Auto Loan Tips And Advice

Nail down the price first.. This is the top advice from all the experts. Don't think about monthly payments until you get a purchase price first. A lot of things can be hidden in monthly payments -- especially if the term of the loan is a long one -- and any loan can match your monthly payments if it's stretched out over enough time.

Know the difference between interest iate and APR. The annual percentage rate (APR) includes all fees and includes the fact that interest is compounded; the APR will always be higher than the interest rate.

Internet shoppers are treated better than folks who just show up on a car lot. The best thing you can do is line up financing before you go shopping. You have nothing to lose by applying now.

Insider tip: think about car shopping with just a few days left in the month. Many dealerships work on monthly quota systems, and you might find salesmen more willing to bargain.