How to Get the Best Rate on New Car

Reader question:

How do I get the best rate on new car financing?


Research, compare, and doubt.

I’m beginning to feel that every question in the world can be answered in that one way. It’s a pattern that comes up a lot in all of my posts here, whether we’re talking about car insurance or buying a new car or financing a new car. I guess the truth is that anytime you’re going to open up your wallet and hand someone some money in exchange for something else, you should heed to these three practices. That doesn’t mean you have to research, compare, and doubt every time you buy a twinkie from the corner store. But think about it–maybe you should research other snacks. The twinkie may not be your favorite like you think it is. The idea is universal, see?

So how do you get the best rate on financing a new car? Well, loan companies have a lot of variation in what kind of APR they’ll offer. You should research, first, to see what a standard APR so that you can have an idea of what, according to the norm, is good and bad.

Check out the internet. Not only are their websites that will apply for loans for you at several different places, but the bigger financing companies also have their own websites. You can go on to these websites and get quotes and information about their loans. Check out the different internet resources before going into the car dealership.

The best strategy is to get at least three quotes on rates for your new car financing before making a decision. If one is too good to be true, research it more to make sure it isn’t just a trap to hide higher prices for other things.


Fashun Guadarrama.

About the Author:

Austin Davis, consumer car repair advocate. "Hi there! I love to help people solve their car repair problems and I hope my site was helpful to you today. Thank you for stopping by."
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