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What's the best way to compare car loans?

"I want to buy a car for the first time, but I don't know what to look for in terms of car loans.

What's the best way to compare car loans, and what should I be looking for?"

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Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“The interest rate or APR is obviously one of the most important factors, but you should also look at:
  • Penalties for late payments or prepayments
  • Whether the loan can be changed by the lender at any given time
  • Any other added fees, taxes, and other charges
As far as comparing each one, you might find it easier to use an online car loan aggregator. Or you can just go to each lender or apply online to get all the necessary information.”
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