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What is the best way to get a car loan?

I’ve been looking to purchase a car for the last few weeks and have finally found the one I want, but I can’t afford to pay for the vehicle upfront and will need to take out a loan. What is the best way to get a car loan?

avatar
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Finding a new car can be stressful and time-consuming, so congratulations on finding the vehicle you want!
The best way to get a
car loan
is to prepare the necessary documents and shop around to find the best offer. Before visiting a few lenders, you should also check your
credit
report to ensure there are no errors that could be used to reject your application.
Once you’re ready to apply through a few lenders, you should gather:
  • Your driver’s license
  • Proof of residence
  • Proof of employment and income
  • Vehicle information
Shop around and compare rates from multiple lenders to find the best deals. And be prepared to negotiate! Getting pre-approval helps you go into negotiations informed so you can save money on the loan.
Remember that when you buy a car, the lender will require full coverage
car insurance
for your new vehicle. Full coverage can be expensive, but it doesn’t have to break the bank.
Try using the number-one-rated car insurance app,
Jerry
, to help you find low rates on car insurance. The Jerry app collects quotes from more than 50 top insurance companies, like Travelers, Nationwide, and Progressive, in minutes for free. The average Jerry driver saves $879 a year on car insurance!
MORE: What to do after buying a new car
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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.

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