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9 steps to a car loan on damaged credit

7. Shop loan terms, not monthly payments
7. Shop loan terms, not monthly payments © LifeStudioPhoto/Shutterstock.com

7. Shop loan terms, not monthly payments

Look for the cheapest money -- the lowest APR over the shortest period. Don't be distracted 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 car.

RATE SEARCH: Did you know? A personal loan can be used to purchase a new or used car. Compare current rates.

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Tara Baukus Mello

Toyota, Infiniti top preowned value awards

Toyota and Infiniti came out on top in the Pre-Owned Value Awards from TrueCar.  ... Read more


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