Many buyers expect to purchase the car and secure financing through the dealership in one fell swoop, but that may not be the ideal way to get the lowest
car loan interest rates possible.
Not exact matches
You need to lock in to a new
car loan that is going to give you the lowest
interest rate possible.
Still, it is
possible to extend your
loan term and pay less for your
car by refinancing to a sufficiently lower
interest rate.
At this point, it is important to note that it is
possible to have a longer
car loan term length and still pay less for your
car than with a
loan of a shorter term length if your longer term
loan has a sufficiently lower
interest rate.
The reason is simple: it is sometimes
possible through debt consolidation to obtain lower
interest rates than that of
car loans.
When it comes to
car loans, the problem is the same, an unsecured consolidation
loan will never be able to match the low
interest rate that
car loans provide due to being secured and thus you will need to refinance the
car loan if
possible or consolidate via a secured consolidation
loan guaranteed with another property.
Although you can qualify for some
car loans with bad credit, it's a good idea to avoid subprime auto
loans and their sky - high
interest rates whenever
possible.
Do you want the best
possible interest rate on a
loan for your
car or home?
It is
possible that you got your
car loan at a very high
interest rate.
If you succeed in refinancing the
car loan with lower
interest rate, it is
possible to achieve reduced monthly payments without necessarily extending the length of the
loan.