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Step 1
Understand that good or perfect credit is the fastest and cheapest way to get a car loan. You will save a lot of money if you have excellent credit. Creditors will look at your credit score and your credit history and if this all looks really good they will give you the loan at a great interest rate because your history shows that you are capable of paying things off.
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Step 2
If you do not have the best credit getting a car loan will be more difficult but not impossible. Your rate will not be as good versus great credit but it is still very possible to get the car of your dreams or to get something to get you around in.
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Step 3
Most car dealerships work with banking institutions even on Saturdays. If one institute denies you credit there are other ones that the car salesman can look into for you. Getting a car loan is the longest part of trying to buy a car. Unless you have cash on hand and have made a deal for the amount you are going to pay. You will work back and forth going over different financing options until both you and the dealership are happy.
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Step 4
Know that for people with bad credit there are buy here, pay here places. They carry the financing for you but everything is done under their terms. The car will most likely not be as good for the same amount of money as you could get at one of the big dealerships. This is a good option for people trying to get back on their feet and get a halfway decent car.
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Step 5
Keep in mind there are also quite a few places that will finance you over the phone or online. These are independent banking and finance companies. A lot of people like to get financed before going to the dealerships. This makes the wait time and the headache smaller. You can find these places by doing a search online.
