Pay for a Car: Auto Loans and Bank Rate Auto Loan Calculators

Best Money Websites on How to Pay for a Car

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Comparison shop. Start with Bankrate.com. Another great site for comparison shopping is Interest.com.
Get financing through an independent lender. Dealer financing is usually more expensive than car loans through banks or credit unions.
Before shopping for a loan, check your credit report. Correct any inaccuracies that may hurt your credit rating. Remember that interest rates are usually tied to your credit score. Better credit scores result in lower car payments.
When interest rates are low, consider refinancing your auto loan. Comparison shop for auto loans offered by different banks. Consider all fees associated with the loan. Some banks may offer loans that appear to be great, usually in the form of a low APR, but then require massive loan fees. Do your research first, and don’t be fooled by these tactics.
If possible, pay for the car in cash or make a large down payment. Banks are often willing to give better rates when you are willing to have a larger down payment.
Always get the shortest term loan possible, because you usually get a lower interest rate with shorter terms.
Be wary of using your home's equity for a line of credit. Cars usually depreciate. Homes typically appreciate in value. Tapping your equity can be a great way to ensure a loan, but don't rely on this source unless you are unable to qualify for a loan or unless it's the best rate available.