compare loans for cars

Comparing car loans is like choosing your poison: each has its quirks and traps. Here's the skinny:

• Bank loans: Usually offer competitive interest rates, but the paperwork can be a nightmare and approval is often strict.
• Dealership finance: Convenient and quick, but watch out for sneaky high rates or add-ons disguised as bargains.
• Credit unions: Often friendlier rates and terms, but you need to be a member, which might take time.

Interest rates typically range from about 5% to over 15% depending on your credit score and loan term. Loan terms usually stretch between 1 to 7 years. Used car loans might have higher rates than new car loans. For the best deals, scour Tradingpost and CarShowroom to check vehicle prices, then cross-reference loan offers on ServiceCentral.