CAR LOAN RATES » Auto Loan News

Congratulations, college graduate! You've got your diploma, and you even managed to land a job. With so many dealerships offering incentives and rebates right now, you might be tempted to put a down payment on that shiny new vehicle that symbolizes your first step into adulthood (and out of your mom's station wagon). But before you shell out on a brand new car, do your homework and crunch some numbers. The sticker price is one thing, but hidden costs of a new car loan can throw you into shock long after the initial thrill is gone.

Finance Ahead

For example, consider your credit rating. Many dealerships will be eager to work with you to give you financing with "low monthly payments," but keep an eye on another number that will have a much longer-term impact on your bottom line: your loan's interest rate. As a recent college grad, you probably don't have much of a credit history, which will affect what sort of auto loan terms you are eligible for. Dealer financing is not the best deal in town, and they may offer you terms as high as 18% or even 21%! You want to look for the lowest auto loan rates you can find, and the dealership probably can't offer those to you. Try pre-qualifying for a car loan with your bank or credit union. If you step into a dealership with financing in place, you will not only have a much better interest rate, you have a stronger position from which to negotiate a price.

Mind the Small Things

Also, don't forget to include taxes and fees when you are considering the cost of your car. Sales taxes, title fees, registration and license plates add up quickly and could add hundreds and even thousands of dollars to your purchase price.

Insurance on a new car is usually more expensive than on older vehicles, as well. You should check with your insurance agent before purchasing a vehicle, and also ask them about something called "gap coverage," which would pay the difference between your car's actual cash value and your outstanding loan amount in the event that your car is totaled or stolen.

Speaking of gap coverage, did we mention something called "depreciation?" Basically, that means as soon as you drive a new car off the lot, your car loses about 20% of its value. So be sure you know what you are getting into before you sign on the dotted line - otherwise you could find yourself stuck with a car you can't afford.

Many people rely on financing to pay off the large expense of buying a car. Even if you have a poor credit history, the process of comparison-shopping for auto loan quotes should not cost you a dime, and the internet is one of the best ways to get free auto loan quotes.

Online Resources

Since the advent of the web, it has become the single best way to locate free auto loan quotes due to efficiency and convenience. Almost every lender specializing in this field has a website promoting themselves and the capabilities to provide free auto loan quotes quickly and easily. Consumers seeking car loan information only need to enter some basic information about themselves, work history, and address, have their credit checked instantly and within minutes they will be provided with information.

Go Banking Rates also offers free car loan quotes, and it is guaranteed to be secure and convenient. No matter where you live, what your credit history is or the type of vehicle you plan on buying, all you need to do is fill out the short form on the top of the screen.

If you're searching for used car loans but don't want to go to your local bank, you'll be happy to know that there are other ways to finance a used car. Whether you're visiting an online financial institution, a dealership, or even a family member for a loan, there are ways to get the money you...

As with any large purchase, buying a car isn't something you should do on impulse. Even if you are purchasing the car as a present, it's important to sit down with your teen to go over the expenses that owning a car entails. Registration, insurance, and regular maintenance are not things that...

New cars come with an assortment of bells and whistles that certainly lure in buyers, but when it comes to your vehicle, safety features should be heavily considered when it comes time to making a purchase .

Here is a list safety features you should pay special attention to:

1. Seat belts

This...

As a result of the recent state of financial woes, shoppers have been holding back on anything considered a luxury like purchasing a new car. To help stimulate the over all bottom line, both the government and care manufacturers got creative with their incentive to buy programs to help generate...

Buying a new car is an exciting rite of passage that everyone should be fortunate to experience at least once during their lifetime. The time has never been better to score a great deal on a new automobile, and once you locate a great car loan rate you will be good to start the car shopping...

Finding a reasonable new car loan can sometimes seem like an impossible task; however, it doesn't have to be, especially if you join a credit union. Credit unions may not be the most popular choices to secure your auto loan, but they are definitely one of the better options out there.

What's a...

It's possible that if you tried to refinance a car of a certain age or mileage, it will be turned down. However, there are times that the same scenario might result in something different. If you're looking to refinance your car and it has a few years on it, you may be wondering if it will work....

When you have bad credit, it seems that there's not much that you can qualify for, including good auto loans rates for your auto loan. But this is not exactly true. While it may be next to impossible nowadays to secure a home loan with bad credit, if you play your cards right, you should be able...