After your credit score is bumped as high as it can go, and you have a large down payment it is time to compare all loan options available. Automobile dealers commonly offer financing options, but are they offering the best loans available for your situation? Some automobile dealers offer financing directly through their various dealerships. 

Others offer financing through third-party lenders with whom they have affiliate deals in place. Online lenders and banks also offer car loans. The best bank for auto loan purposes might not be your own, however.

Do Some Comparison Shopping With Car Loan Offers

How do you comparison-shop for car loan offers in 2021? Start using a basic Google search by typing, “best auto loan rates,” and your zip code into the Google search portal. Keep in mind Google also has affiliate advertising deals and the top search result companies might have paid to appear at or near the top of the list. Scroll through the results and begin comparison-shopping rates between your preferred lender options.

Certain websites are specifically designed to help you compare auto loan rates around the country from one convenient location. The Lending Tree is an example of a popular rate-comparison site for 2021. 

Comparing as many rates as possible using free online rate quotes helps you find the best car loan/lender for you. It is also important to differentiate between loan rates for new and used vehicles. 

For example, the best used car loan rates on recently outgoing models might save you more money than good rates on a brand-new model. Essentially the best place to get a car loan is from a lender offering you the lowest rates and friendliest terms possible for your situation. 

Some lenders are even willing to match a lower rate you find from comparison-shopping loan products between various lending institutions on the market today.