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How do I get the lowest car loan interest rate possible?
I don't want to pay too much money for my car loan rate. Is there a way I can get the lowest interest rate possible?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Getting a low interest rate on your
car loan
requires a bit of work on your part, but the potential savings are well worth the effort.To get the best rate on your car loan, consider these options:
- Improve your credit by paying down debt and delinquent loans
- Shop around as much as possible
- Get pre-approval
- Make a larger down payment
- Get the shortest loan length possible
- Add a cosigner
Any or all of these can keep your interest rate at the lowest levels possible. The only thing you need to do after securing the loan is to get the best rate for your
car insurance
.Use the
Jerry
app today. Sign up and compare quotes from dozens of car insurance providers, so you get the best full coverage for your new ride.View full answer
- Gregory R.
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