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!
Joshua Levy
Answered on Dec 08, 2021

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.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free