Know Before You Owe: Auto Loans
Our resources will help you avoid common pitfalls and understand the total cost of an auto loan.
Auto loan worksheet
Experts know to focus on total cost, not just the monthly payment. Our shopping sheet helps you compare offers, see the total cost, and negotiate the best deal.
Plan to shop for your auto loan
Before you head out shopping, you may want to make a budget, gather the information you'll need, and get pre-approved for a loan. Preparing ahead of time will get you ready to negotiate and make the process less stressful.
Learn to explore loan choices
Banks, credit unions, dealerships, and other lenders are all common places to finance an auto loan. Finding and comparing loan choices will help you get a better deal, potentially saving you hundreds or thousands of dollars.
Know what is negotiable
While you may know that you can negotiate over the price of the vehicle and the interest rate, it’s also important to know everything else you can negotiate that may impact the amount you borrow and the cost of your auto loan. Small differences in the choices you make can add up to a significant portion of your loan’s total cost. Understanding what you can negotiate will help you save money when getting an auto loan.
Understand how to close the deal
By now you've negotiated and chosen a loan and lender. But the process isn't over yet. You need to make sure the paperwork matches the deal you think you are getting and that everyone has signed all the documents before you drive away. We're here to help it all make sense.