Best Car Loan Rates – Prime Lenders vs. Sub Prime Auto Lenders
The best car loan rates are out there if you search for them. Based on your credit past, you may find either a prime or sub prime auto lender is your best choice. The surest way to find the answer is to request free online loan quotes to narrow your choices.
The Differences Between Prime and Sub Prime Lenders
Prime and sub prime lenders differ in the types of loans they offer. Prime lenders offer A loans to those with credit scores of 650 or higher. Sub prime lenders provide loans to everyone else. Sometimes though, financing companies offer both types of financing.
Sub prime loans have higher rates and fees since the risk is higher for lenders. Reasonable lenders will only charge a couple of points higher for most types of loans.
Who Has The Best Rates?
The only way to find who has the best rates is to do your own comparison shopping. Depending on your credit score, you may be surprised who can offer you the most competitive package.
As important as low rates are, fees should also be considered. Fortunately the government made comparison shopping easy by...
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