Auto loans are typically secured loans that charge simple interest, interest calculated on your loan balance, over two to seven years. Your auto loan interest rate is determined by your credit score, loan term and amount, along with the value of the car itself.
While many buyers shop for a car loan at the same time they’re shopping for a car, a better way is to compare annual percentage rates (APRs) across multiple lenders to make sure you’re getting a competitive rate. If the dealer can beat it, you’ll know you’re getting a fair offer.
Compare Auto Financing Offers
Why you should compare auto loan rates
Comparing loan rates before you buy a new or used car puts you in a stronger negotiating position at the dealership. This is true whether you have strong credit or need a car loan for bad credit. The lenders below are a good place to start your search.