Car Loans we'll help you find the best car loan

If you're like the majority of us, paying cash to buy a car just isn't in the realm of our budget. And even if it's in the realm, you may not want to take such a dent out of your savings account to buy it. This means that you're either going to be renting the car, or buying the car by way of a car loan. If you're buying, then you're probably getting a car loan through the dealership, a bank or credit union, an online financial institute, or maybe even a family member. Which ever it is, you will want to get the best car loan available to you.

While renting is good for a lot of situations, it's a whole other kettle of fish; we're focusing here on getting the best car loan. If you know you want to buy your car using a car loan rather than pay cash, then you need to do a bit of research and decide how to get the best financing deal.

Means of car loan - Pros and Cons

Dealership
Pros: Convenient, fast, sometimes competitive
Cons: High pressure, usually not competitive; be prepared for a big sales push on add-ons; car loans are often front-loaded (payments are made up of more interest in the beginning of the loan than toward the end -- that's bad if you think you may be paying the loan off early.)

Bank or credit union
Pros: Competitive rates, personal service, no sales pitch for add-ons; often can tell you if you're paying too much for a car; often provide free life insurance or disability insurance with loans; loans are usually simple interest loans (interest spread evenly throughout the term of the loan)
Cons: Not as convenient as dealership financing -- can't set it up at night or on the weekend

Online financial institution
Pros: Usually competitive rates, quick, easy
Cons: Not a personal service; dealing with an unknown; some scams to watch out for

Home equity loan:
Pros: You can deduct some of the interest from your taxes; competitive rates
Cons: You're tying your car to your home (may be risky)

Family member or friend
Pros: Personal service, easy, sometimes flexible; usually competitive rates
Cons: Could jeopardize a relationship

But we at Car Loans would recommend taking a look at our panel of online car loan lenders to find some of the most competitive loans on the web.