If you look at fixed rate loans for cars, you may wonder how to find the best rate. One method of comparing rates is to use a loan aggregator such as LendingTree.Com or Bankrate.com.
After going to the website of a loan aggregator, fill in the information about you and about your vehicle. You can't get an accurate quote unless the financial institutions know all about your credit history and your current FICO score as well as details about the vehicle you want to purchase.
When you use a site that gives you a number of different loan offers, you may have too many loans to consider adequately.
These sites will likely have a comparison tool to help you. Choose your top 3 or 4 loans that offer fixed rates. Then choose the best of those loans based on the interest rates, terms and institutions, and click on them to put them in the comparison chart.
After aggregating these offers, it should be easier to compare the interest rates on each loan, the fees charged by each institution and the length of the loan offered. Examine each of these factors and see which loan best meets your needs. If you need a longer length of loan in order to get lower payments, for example, you will likely have to pay a higher interest rate.
After you've looked at the online loans, you may compare those top offers to the best offers you received from brick and mortar, local institutions and see if you get better terms from a local institution or from the online lenders.
