Check your credit report to find out what your score is and if you need to pay off any delinquent loans
Apply for preapproval with several lenders after you shop around for rates
Use the best preapproval rate or offer to get your budget for the vehicle
Start shopping around with dealers to get your car
Pick the car you want
Finalize the loan with your lender
Close on the loan
Depending on your income and credit score, the average used car loan rate ranges between 4.08% and 20.67%, so make sure to shop around with due diligence to get the best car loan possible.
Since you’re getting a car loan, keep in mind that most lenders will require full coverage car insurance. Try using the number-one-rated car insurance app,
, to find the lowest rates. Jerry compares personalized rates from more than 50 top providers and delivers the best deals to your phone in minutes for free. The average Jerry driver saves $879 a year on car insurance!
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.