Many people are paying high interest rates for no good reason. New auto loan rates of 6.95 to 9.95 APR are common, but very costly!

Did you know that you can easily overpay $2,000 to $5,000 for your car loan?

Many people do, yet never know it.

Consider this: When financing the average new car priced at $27,000 for 72 months at 5.49 APR your monthly payment is $441.00. Finance that same car at 9.95 APR and your payment jumps to $499.00 per month. That amounts to a difference of $4,176.00 over the term of the loan!

Wouldn't you like to keep that money for yourself instead of handing it over to the bank? Or perhaps buy a much nicer car for the same monthly payment?

You may be able to drive a nicer car for the same monthly payment by carefully choosing your auto financing.

Choose The Right Auto Loan

Having the wrong auto loan can make a huge difference when it comes time to sell or trade your car. By choosing a low interest auto loan your loan payoff could be thousands less when it comes time to trade for a new car.

Structure the loan properly and you can build equity in your car. But choose the wrong loan and you could end up paying thousands in excess finance charges.

Compare your options carefully and be sure to check out our auto loan comparison guide. the online lenders we've reviewed have some of the best rates and terms available.

Arrange Auto Financing First

Te best time to consider auto financing is before you ever visit the dealership.

By getting pre-approved for an auto loan you know how much your monthly payments will be in advance.

You can budget the amount you are willing to spend for a new car based on a monthly payment you are comfortable with, and then go shop for cars in that price range.

Doesn't that make more sense?

Pre-approval has another big benefit, too. It gives you negotiating power when it comes to the price of the car.

Imagine walking into the showroom with the negotiating power of cash.

You can tell the salesperson that your financing is already approved, and that you will be ready to buy when you find the right car at the right price. Suddenly the price will become very flexible.

So how do you get pre-approved?

The easiest way to get pre-approved for your car loan is to apply for online financing at one of the major national auto financing web sites.

Get An Online Auto Loan

You'll Save More With An Online Car Loan

Online lenders have some of the best interest rates around. In most cases your local bank will not be able to quote a lower rate than you will find online.

I have had good experiences with Capital One Auto Finance. They have always given great customer service and a fast response time.

How An Online Car Loan Works

If you are unsure of how an online auto loan works then let me explain. It is really a quick and easy 4 step process.

Complete a quick online application at one of the online auto finance web sites. You can check car payments before submitting your application. You will get an answer in as little as 15 minutes.

Once your application is approved a package will come to you containing a blank check to pay for your new car. You may request overnight delivery of your check.

Once you select a vehicle you simply write the dealership a check.

Your online lender funds the check and sets up your car loan for the amount you write your check for.

It's free to apply, so there is no risk.

You'll be approved for a pre-set spending amount. Use your blank check to buy the car of your choice, at the dealership pf your choice, up to your approval amount. Loan amounts are available from $5,000.00 to $100,000.00.

Are you planning to purchase from a private party instead of a dealership? No problem. Just specify Private Party in the application process.

There are no fees, and no surprise costs.

You can even get an online loan to refinance your present car for a lower payment, buyout a lease, or finance a motorcycle.

What About Special Auto Financing Rates & Rebates?

What If The Dealer Is Offering A Special Rate Like 0% or 1.9%?

We've all seen the ads for super low interest rates. Did you ever wonder how they could loan you money for free?

Banks can't loan money for free. If they did they would be out of business soon.

Next time you see one of those ads for 0% financing read the fine print carefully. It usually says something like "not all customers will qualify", or "limited term financing".

Truth is these low advertised rates are just to get you in the door. Then the salesperson will tell you, "sorry, you don't qualify for that rate", or that is only for 36 months, and your payment is $750 per month".

Beware of the disappearing rebate. Don't give away your rebate. Often a car will have a rebate, or a special low APR. You have to choose, but you don't get both.

For example, consider a car that has a $3,000.00 rebate, or 1.9% financing. If you take the 1.9% financing, you are effectively paying $3,000.00 to do so. That is a really bad deal.

We recommend you take the rebate, and then shop around for the best car financing you can get.

Lock In A Low Auto Loan Interest Rate!

Interest rates are near an all-time low today, but are on an upward trend. Apply today and lock in a low rate before it's too late. You can lock in your rate for up to 45 days

P.S. Interest rates are on the rise. Why wait? Lock in a low rate today by applying now. You could have your blank check and be driving your new car by tomorrow. Click here to see which online auto loan is best for you.

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