How to Obtain the Best Car Loan Rates

When looking to buy a car at our dealership, we want you to get the best rates available for your loan. You can do this by following these tips and knowing what to ask for when you get here. These factors matter when trying to get the best rate on car loans.

Look for a Low Annual Percentage Rate

APR is the rate of interest that is added on top of your loan payments. The lower your APR, the less money you'll pay back over the term of your loan. Negotiate for the lowest APR based on your credit history and consider deals we might be offering. For example, sometimes paying low interest with a large rebate might be better than taking zero-interest APR. Do your research.

Make a Down Payment

By making a down payment or trading in your previous vehicle, you won't need as much financing as those who don't. This obviously lowers the amount of money you need to pay back. Also, those looking to obtain car loans with bad credit can sometimes get a better APR by making a down payment because it's less risky for us as your lender. It also shows us that you're serious about paying in full.

Negotiate a Shorter Loan Term

We often offer car loans varying between 3 - 7 years. While taking a longer term may decrease the amount of your monthly payments, it also adds to the number of payments you make and how much interest you pay over time. By taking a shorter loan term, you'll repay it faster for less money, so consider paying a bit more monthly to disburse less money over the term of your loan.

Following these four tips will help you gain the best rates for car loans when you buy from our dealership. By negotiating for a lower APR and shorter loan term as well as making a reasonable down payment, you can shave a large amount off the money you owe and the total of each payment.

ajax loader2