Used Auto Finance and Car Loan Rates now became competitive

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Today the demand for used cars exceeds the demand for new cars. This is due to many reasons including the high cost of new cars which make used cars a relative value. Auto loan rates are another factor. While online car loans can be very attractive, especially if they have the manufacturers backing with 0% interest or similar deal, on day to day basis, used auto finance rates for used cars have gotten closer and closer to new car loan rates. Once you reach parity in the rates between new and used cars, used cars become even more of a value in terms of the cost to own over the life of the car.



So one of the keys to insuring that your next used car purchase is the best possible value, you should shop carefully for your loan. The best way to do this is to start by comparatively shopping used auto loan rate on the internet. From the privacy of your computer you can quickly see what’s being offered by different manufacturers and dealers. If you have good or excellent credit you can hardly tell the difference any more between used auto financing rates and new car loan rates. Where the difference is noticeable is if you have poor or bad credit. In this case you need to be prepared, before you talk with the seller, to know your credit score and be sure you are getting as competitive a rate as possible for your score. You can also do this on the internet.


You can get a free copy of your credit score once a year from any of the three major credit reporting companies. Take a few minutes and do this that will help you in getting guaranteed approval auto loans . You can even print off your credit report on your printer. Armed with this information, you know pretty much what you can expect in terms of rate. If you have a good score, you can shop about anywhere and do well. If you don’t, then take some time and choose the dealerships carefully that you are going to visit. Select those who have a track record of working with poor credit. They understand what it takes and have the resources that are focused on poor credit Best Cheap Car Loans. The right dealership in combination with the right lender can used Best Cheap Car Loan for almost any type of credit.