Where can I get a car loan?
I’d like to buy a new car, but I don’t have the money to pay for one outright! I need to get a car loan, but I don’t know where to start looking. Where are some good places I can go to get a car loan?
Car loans can be complex, and finding a good deal is complicated! Luckily, the hardest part of securing a reasonable agreement is finding the right lender.
Here are the four most common places to get a car loan:
- Dealers will often help you finance your car when you come to buy it. That said, they can usually offer great deals for buyers with good credit, while those with bad credit may have a harder time securing a fair offer.
- Banks can also give you car loans, though the agreements may come with conditions on which type of car you can buy. That said, it may be more challenging for you to secure a car loan with a bank if you’re only looking at older models.
- Credit unions will typically offer the best terms and lower interest rates. However, you’ll need to qualify for membership. Credit unions will typically offer the best conditions for people with low credit scores.
- Third-party lenders may also give you a loan, though they have a higher range of interest rates and terms. As a general rule, third-party lenders can offer low interest rates to people with good credit—but will likely set unreasonable terms and interest rates for people with bad credit.
Remember, each lender will offer different terms and conditions. Before you settle for a loan, compare a few lenders and see what your best option is.
For help keeping up with your monthly payments, start saving on car insurance with Jerry. A licensed broker, the Jerry app can help you compare personalized quotes from over 50 top providers like Travelers and Nationwide for free. When you find a better plan, Jerry can help you buy your new coverage and even help cancel your old policy!
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
How can I get a car loan?
I need to get a car loan, but I’m not sure how to get started.
Dec 08, 2021
What is the going interest rate on a car loan?
I’m about to start looking for car loans, but I want to make sure I have an idea of what a good deal looks like before I start. As of now, what’s the average going interest rate on a car loan?
Dec 08, 2021
What would my interest rate be on a car loan?
I’m thinking about taking out a car loan, but I don’t know what it would cost me. How much would my interest rate be if I decided to take out a car loan?
Dec 08, 2021