Car loan

A personal loan you obtain from a bank or finance company to buy a car or truck. The vehicle is the security for the loan. Car loans are amortized over several years, usually three to five. In recent years, longer terms have become more common as the number of buyers who owe more on their trade-ins than they are worth — known as having negative equity — has increased. Subprime borrowers (those with a poor credit score) pay higher rates for loans. Loans for used cars also usually carry higher interest rates than loans for new cars. Manufacturers sometimes offer 0% APR loans on new cars — meaning you pay no interest over the life of the loan — in order to move inventories. You can search our database for the best new and used car loan rates in your area.

Most Recent

State Farm Bank: Auto Loan Review 2020

You may think of car insurance when you think of State Farm, but the company also has an affiliated bank that offers vehicle loans.

Capital One Auto Loan Review

Some of late autumn's best auto financing deals are at Capital One Bank. You can borrow as much as $40,000 and finance up to 100% of the value of any new car or trick, which means you don't need a down payment.

Pentagon Federal Credit Union Car Loan Rate

Pretty much anyone can join Pentagon Federal Credit Union and take advantage of its very competitive car loans. Rates start as low as 0.49% for three-year loans to 1.99% for five-year financing.