Two people talking in a car
Will you have a co-signer?

Your Auto Loan Rate

When it comes to just about any type of loan, everyone wants to get the best interest rate. Auto loans are no exception and consumers are willing to go to great lengths to improve their chances of getting a good rate. Fortunately, you don't have to take drastic measures to attain a good interest rate on your Utah car loan - just use our service! We work with dozens of respected auto loan lenders and we know they can help you get a great interest rate! If you're still worried about your rate though, try out some of these easy tips!

  • One of the best ways to get a better auto loan interest rate and decrease the total amount of your loan is by having a large down payment. The more you're able to pay up front for your vehicle, the less money you'll have to take out in the form of an auto loan. Even if it means putting off your auto loan for several months in order to save, having a large down payment is always a smart financial move.
  • What is the most important factor in determining your auto loan's interest rate? Most auto loan experts would agree that it's your credit score and credit history. Simply put, the higher your credit score, the better your interest rate. So it's definitely in your best interest to try and increase your score before applying for an auto loan. Paying down large amounts of debt and making your monthly payments on time are just a few of the ways you can positively affect your score. Another option is to consider getting online loans through reputable vehicle financing companies, which often offer lower rates.
  • Just like any other type of product, you should always shop around for your auto loan. You never know where or when you'll find a good deal, so don't commit to anything until you've shopped around yet. Better yet, use our service to get the best Utah car loan possible! We'll take your information and match it up with the auto loan lenders best suited to help you. You can even get free quotes online!
  • Another way you can possibly improve your auto loan's interest rate is by increasing your loan's length. Going from a 36 month loan to a 48 month can very well help you secure a better interest rate. However, keep in mind that extending the life of your loan can cost you more money in the long run. You might have lower monthly payments by extending your loan, but you'll be making more of them over time.
  • Do you know how the federal government's prime rate works? Generally, the government sets the prime interest rate or best interest rate available for auto loans, and then lenders follow its lead. Although there is still plenty of room for fluctuation, you can usually count on getting better interest rates from lenders when the federal government's prime rate is lower. Check the government's rate and try to base your shopping around it.