When buying a new or used car, it is important to have a good idea what the current car loan rates for your area is. Interest rates vary by location, credit score and term of contract, and keeping up to date on the latest car loan interest rates can be confusing if you don't know where to look. Fortunately, the following can help point you in the right direction. Here are a couple of sites that make it easy to find out what the current prevailing car loan interest rates are:
Bankrate is one of the oldest, and most experienced, financial internet sites on the World Wide Web. Bankrate.com began as "The Bank Rate Monitor" and was founded in 1976. Bankrate.com offers a host of convenient, and easy to use, tools to help consumers check interest rates in their area.
You can search for current care loan interest rates by state and city. In addition, you can narrow the search for rates by the type of loan and length of term. Bankrate.com constantly monitors the state of the current auto interest rate market, and their rates are updated in real time. This means you always have instant access to the most current car loan rates.
Another great site for finding current car loan interest rates is Interest.com. They have been offering consumers accurate and up to date information on car loan interest rates since 1994. Like Bankrate.com, they offer users the option of searching for interest rates by state and city. However, they also offer a convenient option of searching by zip code only. This makes searching for current car loan interest rates even quicker.
You could also try calling your local bank for current car loan interest rates. They may or may not be comparable with you will find online. However, having some information is better than having none - especially, when it is time to buy a new car.