About Car Loans

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Car loan amounts and interest rates are based on the credit rating of the borrower and the cost of the car being purchased. Speak with a car dealer or financial institution to discuss car loans with tips from a registered financial consultant in this free video on auto loans.

Part of the Video Series: Investing & Money Management
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Video Transcript

This is financial adviser Patrick Munro talking all about car loans. The car industry has come under a lot of criticism recently because they're building products that people tend not to want to buy, they're too expensive number on and that's where a car loan comes in. You have the ability to buy a car if you get favorable terms on your can loan. The favorable terms come into play in different factors. Many times nowadays dealers have a rebate available on the car that will lower the rate from the MSRP also known as the manufacturer's suggested retail price down to a lower price as well. Then based on your good credit and we hope you do have good credit, you can go into the bank and negotiate a rate as low as zero over the term of the loan. And this is about as good as it gets. If you have credit challenges however, then you're in the world of different types of interest rates, make sure you get the best rate from the dealer but also go to your financial institution as well to get the best rate for your car loan. This is financial adviser Patrick Munro talking all about car loans.

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