The Lowest Auto Loan Rate for the Most Conscientious Buyer
Low Auto Loan Rate
Getting the lowest auto loan
rate requires a bit of leg work and the best thing you can do
is to compare. Barrowers though we may be, being choosy about which auto loan to take spells the difference between a
fair deal and losing thousands of dollars on a car loan.
Comparing Lenders -
Where to Start
First of all, know the applicable loan rates in your state for the car you wish to
purchase. Knowing the annual percentage rate or APR makes you one step ahead of any lender trying to
scam you into a high interest rate loan.
Second, visit your local bank. Often, banks and credit unions offer the lowest rates to their
own clients. Third, go to car dealers, but before negotiating a loan rate, go in there and negotiate the best price
for the car you
like first.
When you feel that you've exhausted this effort and you already
have the best price the dealer has to offer for the car, THEN start
negotiating loan or financing schemes.
Written by: Katrina Marion
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