If you are in the market for a vehicle, you may not be able to pay cash for it. If that is the case, you will need to check into financing your purchase. There are many different types of financing for vehicles, and where you shop can make a difference. Here is some important information on how to get a car loan with the best terms.

If you are buying from a dealer, ask about their financing terms. However, make sure that you also check elsewhere, as some dealers will have very easy terms. Yet, easy terms do not always mean the cheapest terms.

Before you shop for cars, is the best time to look into financing. This way, you will not be hounded by any salespeople, to accept their terms. You may wish to stop at your local bank and inquire about financing.


Your local bank can be a very good place to borrow money for a vehicle. Also, it may be easier to get approved, as you already do business with them. Sometimes banks will provide special arrangements for their customers. You may be able to have your payments taken directly from your checking account, for convenience.

Local Lenders

There may be several local lenders to check out. You can visit the office, or call them on the phone. Ask about getting pre-approved for your auto purchase. This can take a lot of the work out of buying your next vehicle.


If you are already approved for financing, you know exactly how much you can afford to pay. This can keep you from wasting time on vehicles that are out of your price range. It also can make it easier to negotiate a better deal with the salesperson.

Online Lenders

Do not forget to check out the possibility of online lenders. This can be a very good way to compare interest rates and terms. Many lenders have websites that offer a great deal of information about their services.

When you shop for financing online, you can get quotes in a short amount of time. This makes it easy to compare several different lenders. You may be surprised at the difference in terms that you find.


If you need financing for your next vehicle purchase, check to see what the dealer has to offer. However, it may be better to get approved before you buy. This will give you better bargaining leverage. Check with your local bank and other local lenders. Do not forget to look into online lenders, also. These things can help you get a car loan for the best terms available.