New Car Auto Loans

So you’ve found the car of your dreams.  Great.  Now you need to find the money to buy it.  This is no big deal, lots of people need auto loans to buy a new car.  In fact, it can even help you establish good credit.  Fortunately, you’ve come to the right place. You can apply for a New Car Loan through our website right now, or keep reading to find out more about New Car Auto Loans.

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Anatomy of a New Car Auto Loan

New Auto Car Loans are pretty straightforward as far as loans go.  They come in a variety of lengths, and can last anywhere from one to twenty-five years.  If you have money for a down payment, it is an excellent idea to use it.  It will make your monthly payments go by more quickly and with smaller payments.  But if you don’t have money for a down payment, many lenders have no down payment programs.

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The most important part of your New Auto Car Loan is its relationship to your monthly budget.  Financial experts suggest that you allot somewhere between 12 to 15% of your post tax income to your car payments.  To figure out your monthly payment capabilities, multiply your monthly net income by 0.15.  If you need help figuring out what kind of sticker price you can afford, check out our auto loan calculator.  Of course, you must also consider insurance, gasoline, and general maintenance costs when budgeting your monthly car expenses.

New Car Lease vs. New Car Loan

Many car crazed consumers can be easily seduced by the prospect of the new auto car lease.  In many cases, a car lease will allow you to drive a more expensive car than the basic sedan traditionally in your price bracket for lower monthly payments…. Or so it would seem.  New car leases are chock full of fine print that can be detrimental to the ignorant consumer.  Most of them have mileage limitations (12,000 to 15,000 a year) and are very strict about damage to the car.  So unless you just want a very pretty car that you can cruise around town in, a New Car Auto Loan may be a better choice for you.

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* Auto Loan Center is not an auto loan lender or broker, but provides information about auto loan products and lenders. Not all products and services are available in all states.

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Current Rates


36 month new car:
60 month new car:
48 month used car:


Rates vary depending on your credit and the lender

Updated: January 2014

Source: Uehara Index