Money is honey rest is funny. Money matters a lot when one wish to buy a car. Unless one has good account or an inheritance, one is in need of auto loan. Car loan rates for new and used car may vary from lender to lender. The difference in loans rate may be minor. One need to go for full fledge research before going for car loan.

If one's credit isn't very good then finding reasonable rates for car loan is daunting task. one has to pay visit to several lenders to get the right bad credit loan. If one's credit score is low then one is at great risk and in that case, don't just talk to leading lenders. one should try less popular lenders who specialize in bad credit car loans if one's credit is not good enough.

When with passage of time one's credit score improves, one can always refinance car loan rates. Refinancing carries a number of benefits such as it lowers your interest rates and reduces loan payments by extending the loan term. Even if you have good credit, you may obtain benefit from refinancing if the current refinancing rate is lower than your original car loan rate.

Either one go for old car or new, one can always find a place to get a car loan. No doubt Credit unions generally offer outstanding rates on new or used car loans, but there are many competitive banks,which offer loan at reasonable rates. Financing through dealer is an option, but rates in this option are comparatively higher. Another option is a home equity loan or a home equity line of credit (HELOC).