Good Rates For Car Loans

Some advice when shopping around

Many people do not realize that some auto dealers make more money on financing the car as they do selling the car. Many car loan shoppers do not realize that some banks do not like to lend money on an old car

It's a good thing to do some Internet research, isn't it?

Here are a few pieces of advice and inside information to use when shopping for good rates for car loans:

• Consider shopping toward the end of the month. Most dealerships work on monthly quotas and you'll generally find salespeople more willing to deal.

• If you're looking for a car loan with bad credit, do as much work in repairing your credit score as you possibly can before shopping for a car loan. Don't be afraid to dispute negative marks -- by law if the credit bureau cannot prove the detrimental information, it must delete that information.

• Be advised that most lenders want to see that you've been at the same job and the same address for two years.

• If you're applying for a loan jointly, put the applicant with the best credit first.

• In most cases, you will not be able to get more than one bad credit car loan at a time.

• Be wary of any Web site promising 100 percent approval. For the record, our rates fluctuate, but generally are in the 90 percent qualifying range.