How to Get The Best Rate on a Used Car Loan

If you need a loan to get a new car, you want the best rate, here are a few details to help you prepare to ensure when you are ready to purchase a new or used car you will get the best rate. There are a few factors that determine the rate and how much the bank is willing to lend.

Factors in Used Car Loans:

• Condition of Car
• Credit Score
• Payment on Time History
• Types of Credit on Credit Report
• Ratio of Debt to Income
• Size of Loan

Condition and Age of Car

The condition and age of the car will affect a used car loan as the banks don’t want to lend money for a car that won’t be worth much towards the [...]