Did you know you don't have to go to a dealer to get the type of loan you need for a new auto *1? While the dealer is the most common location most borrowers turn to for a new car loan, manufactures and online financial services also offer loans that can meet or exceed the showroom's best deals. Taking a proactive stance to finding a new auto loan that best meets your budget is your right. The more you learn about a new auto loan, the better able you are to find a deal that works in your favor.

Start By Researching Loans Online

From the privacy of your home online, play with a car loan calculator for free to find how interest rates and terms affect your ability to meet monthly payments and the final repayment amount. Also, get a copy of your credit report. A new auto loan, or prime auto loan, generally carries the best interest rate for a borrower with a great credit history. What Kind Of A Deal Is The Manufacturer Cutting?

Dealers usually promote incentives such as rebates and trade-in values. As enticing as these appear, the manufacturer often has better direct deals such as extremely low interest rates instead of rebates.

Some of the best new car loans come right before next year's models arrive on the lot. Dealers want to clear their lots and offer below prime rates to move the new models off their inventory. Many dealers at this time don't mind offering a lower interest rate for a shorter term. No matter the time of year, you should always aim for a low APR with less than 4-year term.

Selecting your own financing service helps you know how your loan will be handled. Some financial organizations accommodate for borrowers with less than perfect credit; others follow up with great customer service and refinancing options. Rather than counting on the Sales Manager to find you a loan, you can participate in deciding which loan provider suits your needs. Some of the more popular online car loan networking services are Eloan.com and LendingTree.com.

1 " The Real Truth About What Goes On In The Car Dealer's Finance Office!", http://www.InsideCarSecrets.com .