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How It Works


Learn how auto financing works.

Buying and financing a vehicle can be a complicated endeavor, but we’ve simplified it down to six steps. Here is everything you need to know about buying a car with low auto finance rates.

  1. Give your credit a check-up. Your ability to get low auto finance rates will be profoundly influenced by your credit report and credit score. Knowing your credit score can help you set a realistic range of loans and vehicles you can afford and help you avoid surprise rejections when you apply for low auto finance rates. Similarly, reviewing your credit report and fixing mistakes can end up saving you a lot of money. Order your free credit report from all three of the credit bureaus and check it for mistakes. Dispute these mistakes in writing. Additionally, if you see any blemishes on your credit that you could easily fix, do so. Pay off old credit card debts and make sure you’re current on all of your accounts.
  2. Find the right vehicle. Sometimes it’s wise to secure a loan with low auto finance rates even before you start shopping for a car. That way, you’re free to focus solely on finding the right vehicle and the right price. When shopping for a car, consider your budget, your wants and needs, and the features you’re looking for. Before you start car hunting, you should have your list winnowed down to five or seven models that fit the bill for you.
Lease or buy? That is the question.
  1. Lease or buy? Even if you’re looking into low auto finance rates, you might still be debating between leasing and buying. On the one hand, buying a vehicle allows you more freedom, and you will actually own equity in your car once you’re done paying it off. Conversely, leasing might appeal to some because the payments might be lower than they would be with a low auto finance rates loan. In other words, you might be able to afford a more expensive car if you lease. However, you will face mileage restrictions and other constraints, and you will not own anything once the lease expires.
  2. Finance the car. When it comes to car financing, you have several options, not all of which can offer low auto finance rates. First, you could pay in cash, but few have the resources to do this. Secondly, you could use the equity in your home to get a car loan with low auto finance rates. This is very risky, though. Thirdly, you could get a traditional car loan with low auto finance rates from an independent lender.
Make sure you are always talking price.
  1. Talking price. Most car buyers dread this step of the process, and rightly so. Dealers will try to pull all sorts of tricks to dupe you into paying more than you think you really are. As a general rule, you will not find low auto finance rates at a dealership because they inflate the interest rates, so don’t finance the vehicle there. Instead, force the dealer to negotiate only the vehicle’s price, not monthly payments.
  2. Insure your new car. After you’ve found low auto finance rates and the car you want, you should shop around to find the best deal on insurance. Some dealers require proof of insurance before you can drive your new car off the lot. If you have any questions, please visit our FAQ page.
Get a new car today. Save money with low auto finance rates.