The Best Car Finance Deals on the Web

Before buying a new or used car, take the time to shop for the best car finance deals available. Depending on your credit history, your income and several other factors, the rates and terms of car loans available to you will vary widely. Do as much research and comparison shopping as it takes to get an interest rate and loan terms you are happy with.

Loan Comparison Search Sites
One way to quickly find the best deals on car loans is to visit websites like Bankrate. Bankrate allows you to quickly choose between different lenders that provide auto loans in your area. To begin your search you simply enter your zip code, and the website displays a list of auto loan lenders that provide loans in your area. The site shows you their current interest rates, fees and requirements associated with that loan. Keep in mind, however, that the loan rates displayed on this site are generally for people with good or excellent credit scores.

Auto Loans for Bad Credit
If you have had some past credit problems, or have fallen behind on payments or obligations at some point, you might want to consider sites like InstantCarLoan. InstantCarLoan works with multiple lenders that specialize in helping people with credit problems. Simply fill out the quick application form on the front page of their website. Then, InstantCarLoan will contact you, generally within an hour, and tell you how to proceed and the different ways they have of helping you get the car loan you need and deserve.

Auto Loan Tips

• Look for the interest rate. Yhe APR or annual percentage rate determines how much interest you will pay over the term of a loan. A high interest rate can lead to a buyer being "upside down" on a loan, owing more than the car or truck is worth. Never finance according to "low monthly payments," but according to the best (lowest) interest rates
• Find any hidden fees. You pay the lender in interest. You don't need to pay extra in the form of fees. Avoid glitzy web sites with low APR offers that stick customers with a variety of "processing charges"
• Analyze adjustable interest rates. some financing deals come with adjustable interest rates instead of fixed interest rates. With fixed interest rates, you can enter your rate plus time period into a loan calculator and come up with exactly how much you will be paying over time. With adjustable rates, you may end up being on the hook for much more money if the U.S. prime lending rate goes up. Stay away from these deals unless you have a detailed knowledge of how they will work out for you
• Avoid "phishing" scams online. Just like any kind of transaction, car or truck financing lends itself to the shady practice of deceptive information gathering. Before you enter your name, address, phone or other info into a site, make sure they are legitimately using it for a loan offer and not just passing it to advertisers or others