Auto Loans: Auto Loan Interest Rates

Most likely  you'll have to pay for your vehicle through some sort of financing. Here you have four options:

1. Your Bank. Regardless of your credit situation, you should apply now at your local bank for a pre-approved auto loan or lease, even if you think you won't qualify. Ask about the auto loan interest rate, monthly payments and required down payment.

2. Your Credit Union. If you belong to a credit union, apply now for a pre-approved car loan or lease. The advantage of financing through a credit union is that their auto loan interest rates are sometimes lower than those offered by the banks.

3. Online Financing. Check out the respected Lending Tree website. They'll submit your loan application to several different banks and get them to compete for your business.

4. The Dealership. Compare your best offer with the dealership's offer and decide which is the best deal for you. If your bank, credit union and the various online financiers all deny your loan application, then you probably have little choice but to get your financing through the dealership.

Auto loan interest rates are determined in good part on a buyers credit worthiness. It is very important that you determine your credit score prior to applying for an auto loan. This can be done online for all three of the primary agencies: Equifax, Experian and TransUnion.

Calculate what auto loan payment you can afford to pay comfortably prior to making your final auto selection. You can find a good auto loan calculator by searching online for "Auto Loan Calculator."

For Your Free Auto Loans Guide, Visit http://www.CarAndAutoLoans.com.

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