Free Article tip for loans

Unless you have a lot of savings in the bank
chances are you'll need to borrow some money when you buy a new car. Auto loans are available through a variety of sources
such as banks
credit unions and auto dealer financing. You can also find a great car loan through an Auto Loan Company online
as long as you look for these three things:

A reasonable interest rate

Since you're borrowing from an Auto Loan Company online
your interest rate should be about 1-2% less than what you'd get through dealer financing. Search the Internet to find out what the current average auto loan interest rate is
and then compare it to the rate you're being offered. Watch out for any loan company that seems to be charging an exorbitant amount of interest
particularly if you have good credit and a reasonable down payment.

Low fees and extra charges

Some Auto Loan lenders will charge all types of extra fees
like application fees
document prep charges or credit score fees. As you compare various lenders
keep an eye out for outrageous or unusual fees. If one online Auto Loan Company is tacking on an extra cost that no other company is charging
you may want to ask to have it waived or choose a different lender.

No prepayment penalties

Whatever your loan term--three
five or seven years--chances are you'll want to pay off your Auto Loan as soon as possible. Many folks send in a little extra with their monthly payment
or they send in an extra payment whenever possible. If there's any chance you'll be doing this
make sure your online Auto Loan Company charges no prepayment penalties. Otherwise
you'll be paying an extra fee if you pay off your car loan before the loan term is over.

As you compare different Auto Loan Companies online
remember to choose a lender that makes you feel as if your business is their top priority. Find an Auto Loan Company online that's willing to work directly with you to help you get the best loan for your vehicle.