What Are Some Tips for Getting a Low-Interest Car Loan?


Quick Answer

To get a low-interest rate, spend some time building a high credit score, recommends Forbes. People with perfect credit get the lowest interest rates. Some ways to raise a credit score quickly include disputing any errors, negotiating with creditors, asking for a credit limit raise and paying bills on time.

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Full Answer

It is common for smaller loans to have higher interest rates, so consider asking for a larger loan, ideally more than $5,000, recommends Forbes. Refinancing a car loan often brings down interest as well as monthly payments. Avoid getting an auto loan through a car dealership, as they may not offer the best rates. Shop around for the best possible auto loan before committing.

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