Large national banks,such as Bank of America or Capital One.Local community banks or credit unions.Online lenders that only provide auto loans.Dealership financing,or through automakers’ 鈥渃aptive鈥?lenders.
People also ask
How do I get a car loan?
Some consumers are able to pay cash for a new vehicle, but most use financing from a bank, credit union, nonbank auto lender, or dealer. Here are steps you can take in order to get a car loan: Check your credit report and fix any errors. Your credit score determines what interest rate you’ll receive.
What is the best place to get an auto loan?
Best Overall: PenFed Credit Union. Best Online Auto Loan: LightStream. Best Bank for Auto Loans: Bank of America. Best Credit Union for Auto Loans: Consumers Credit Union. Best for Bad Credit: myAutoloan. Best for Refinance: AUTOPAY. Best for Fair Credit: Carvana.
How do I shop around for an auto loan?
When you鈥檙e searching for an auto loan, it pays to shop around. LendingTree helps you compare auto loan rates and loan terms from multiple lenders. Compare different types of auto loans, including new and used car loans, and auto refinancing options, whether you鈥檙e buying from a dealer, or a private seller.
Where can I get a car loan with bad credit?
Offerings vary tremendously, though, and some banks are more willing than others to make loans to people with marginal credit. Because a car shopper probably has a relationship with at least one bank already, the local branch might be a good place to start.