We provide quotes from multiple lenders to help you get a new car loan With rising gas prices why pay exorbitant amounts on your auto loan? See what we offer here.
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Frequently Asked Questions about Getting a New Car Loan

Here are the answers to the most commonly asked questions about getting a new car loan.

How do I get a new car loan?

You can get a new car loan entirely online with our easy application process. Simply click "Start Now" anywhere on our site to fill out our free application. Once you fill out our short application to get a new car loan, you will get competitive quotes from several lenders. You choose your lender and complete the process from there.

Why shouldn't I get a new car loan from the dealership?

If you get a new car loan at the dealership, it will almost always cost you more than third-party financing. Dealerships take advantage of the fact that most carbuyers elect to finance with them for the sake of convenience. Often, dealerships make more money on the financing deal than on the sale of the vehicle. That means you don't get the best deal. Financial experts usually advise you to get a new car loan from a third-party source to get the best deal and increase your attractiveness as a buyer.

Can I get a new car loan with less than perfect credit?

You don't have to have perfect credit to get a new car loan. Our lenders work with people from all kinds of credit histories, even those with credit challenges. If you have below-average credit, you may get a new car loan that has higher rates or requires a more substantial down payment to compensate for the lender's risk.

Should I get a new car loan with an adjustable or fixed rate?

Most car loans are fixed-rate loans, which means you will enjoy consistent monthly payments and the same interest rate for the life of the loan. Fixed-rate loans sometimes have higher rates than adjustable-rate loans initially, but they avoid the uncertainty of payment fluctuations. Adjustable-rate car loans are relatively rare. If you get a new car loan with an adjustable rate, you will often have lower payments for a specified initial period, after which your rates and payments will fluctuate according to the market rate. An adjustable-rate loan is a good idea if you would like to maximize your savings at the beginning of the loan and don't mind fluctuations.

Is this site run by a lender?

No, we are not a lender. We simply match customers with lenders who can help them get a new car loan. Our goal is to connect you with lenders who can deliver the lowest-cost, highest-quality new car loan possible. Because we are not a lender, you can trust that our quotes are objective and accurate. We do not have an interest in which lender you choose, so our information is less biased than that of other sites.

How much of a down payment should I make when I get a new car loan?

In today's car buying climate, down payments are not as important as they used to be. The hard-and-fast 20% rule doesn't really apply to modern car loans. Some lenders offer 0% down payment loans, while others routinely offer 3-5% down payment terms. However, keep in mind that the lower your down payment is, the more your monthly payments will be. You will also build equity in your car more slowly with a small down payment. Check out the next page for help on finding the right car for you.