April 23, 2024

How to get a car loan

It’s challenging to come up with enough scratch to afford the full price tag on a new or used vehicle. Per Kelley Blue Book’s most recent data, the average transaction price of a new car is $47,401.

Meanwhile, Edmunds.com reports that the average price of a used car stands at $27,297. If you’re like many drivers, chances are you’re going to need some financing help in the form of a car loan.

Take the time to better understand how car loans work, the advantages and disadvantages of getting a vehicle loan, eligibility requirements, who offers car loans, steps involved in the process, what to consider carefully before signing on the dotted line, and alternatives to ponder by checking out my latest Refi.com article on this topic, available here.