ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Pay for a Car: Auto Loans and Bank Rate Auto Loan Calculators

Updated on August 5, 2012

Best Money Websites on How to Pay for a Car

Pay for a Car: Auto Loans

  • Comparison shop. Start with Bankrate.com. Another great site for comparison shopping is Interest.com.
  • Get financing through an independent lender. Dealer financing is usually more expensive than car loans through banks or credit unions.
  • Before shopping for a loan, check your credit report. Correct any inaccuracies that may hurt your credit rating. Remember that interest rates are usually tied to your credit score. Better credit scores result in lower car payments.
  • When interest rates are low, consider refinancing your auto loan. Comparison shop for auto loans offered by different banks. Consider all fees associated with the loan. Some banks may offer loans that appear to be great, usually in the form of a low APR, but then require massive loan fees. Do your research first, and don’t be fooled by these tactics.
  • If possible, pay for the car in cash or make a large down payment. Banks are often willing to give better rates when you are willing to have a larger down payment.
  • Always get the shortest term loan possible, because you usually get a lower interest rate with shorter terms.
  • Be wary of using your home's equity for a line of credit. Cars usually depreciate. Homes typically appreciate in value. Tapping your equity can be a great way to ensure a loan, but don't rely on this source unless you are unable to qualify for a loan or unless it's the best rate available.


Bad Credit Auto Loans Advice. Get a Fast Car Loan Online

Where did you get your car loan?

    0 of 8192 characters used
    Post Comment

    • arizonataylor profile imageAUTHOR

      arizonataylor 

      6 years ago from Arizona

      If you can pay cash, you avoid costly interest, and you increase your bargaining potential. However, interest rates can be very low right now. IF the interest you are paying for a car loan is lower than the returns you can potentially earn in another investment, then getting a car loan actually pays off in the long run. This is true even if you have enough money to pay cash for your car.

    • monicamelendez profile image

      monicamelendez 

      6 years ago from Salt Lake City

      I'm lucky that I was able to pay cash for my last car. The last time I got an auto loan, I seriously got hosed and had to pay 8%. I ended up paying thousands and thousands of dollars interest. I am planning on never getting another loan to pay for a car.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)