auto

9 steps to a car loan on damaged credit

7. Shop loan terms, not monthly payments
7. Shop loan terms, not monthly payments | Brais Seara/Moment Open/GettyImages

7. Shop loan terms, not monthly payments

Look for the cheapest money -- the lowest annual percentage rate over the shortest period. Don't be sidetracked by promises of a lower monthly payment over a longer period of time, says Van Alst. If the only way you can make the payments is to take out a long-term loan, you probably can't afford the vehicle.

RATE SEARCH: Don't miss out on today's low auto loan rates.

Hide Personal Loan Rates

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Mitch Strohm

Auto loan rates for Friday, August 26

Be sure to shop around for the best auto loan rates available.  ... Read more


Connect with us