| I have written before that the most important thing to | | | | expect slightly higher loan rates than for new cars. |
| consider when applying for an auto loan is the current | | | | I've learned that depending on where you apply for |
| auto loan rates. These loan rates are responsible for | | | | your auto loan, you can expect to find lower or higher |
| determining how much you are going to end up paying | | | | rates. I won't talk about it in-depth but you can |
| for the car. So the most important thing you have to | | | | anticipate lower auto loan rates from credit unions and |
| me in the look-out for is low car loan rates. In this | | | | higher - but safer - rates from the auto dealers. |
| article I'm going to talk to you about the current auto | | | | Auto Loan Rates Different Locations |
| loan rates and give you some extra tips on the best | | | | If you are part of a credit union, you'll be able to opt for |
| places to look for low loan rates. | | | | larger auto loans with lower auto loan rates. You |
| First off, you should know that there a 4 main different | | | | should check your union and compare the auto rates |
| kinds of auto loan rates: | | | | with your local bank to see which one is better. The |
| • 36 month car loan | | | | other place, auto dealers, can offer you auto loans |
| • 48 month car loan | | | | with a slightly higher loan rate but are much safer. |
| • 60 month car loan | | | | When I say safer I'm saying that the whole loan |
| • 72 month car loan | | | | process faster and approval rates are much higher. |
| Each of them have different loan rates that fluctuate | | | | But don't worry if you're not a member of a credit |
| between 6.5% and 14%, sometimes climbing up to the | | | | union or only find high auto loan rates with your auto |
| 15% or 16%. The actual rate depends on you location | | | | dealers. There is another kind of auto loan you can |
| and if you want a new auto loan or a used car loan, | | | | apply for called a home equity auto loan. By placing |
| but the general rule of thumb is the lower number of | | | | your house as a collateral, you'll be securing your auto |
| months for the auto loan, the lower the car loan rate. | | | | loan no matter what. |
| Of course if you want a used car loan you should | | | | |