Where to find the best rates on a longer auto loan?

[T4Rrunning]

Penfed credit union usually has good rates. I've used them and logix credit union in los angeles.

Current Rates
1.99% for 60 months
2.39% for 72 months

 

[Bennett Stirgus]

I decided to buy a car on credit. I know many pitfalls as a former bank employee, so I carefully chose a car loan. When choosing the company with the most favourable conditions, I used reviews of borrowers on forums, studied information, and looked around all the top search engines. I chose 18 banks that offered car loans on the most favourable terms and started calling loan officers. After talking to them, I generated a dozen offers with the best car loan terms. Then I chose a particular company to which I entrusted wealth management. The specialists reviewed a number of my ideas and helped me plan the best solution.

 

[Astralopitec]

I also decided to buy a car on credit. Being a bank employee in the past, I know about many pitfalls, so I approached the choice of a car loan carefully. When choosing a company with the most favorable conditions, I used the reviews of borrowers on the forums and in the end I came to the conclusion that it doesn’t really matter which bank you take a loan from, the main thing is that it be a well-known and reliable bank. Here's what's more interesting, you can also take a goodlifehomeloans.com reverse mortgage to pay off your current loan, and thereby increase the loan term in fact by almost 2 times.

 

[rooplstilskin]

I picked 5 banks that advertised low terms either as an existing customer (my credit union, etc), or a new one (where I have never had an account with).

I chose:

2 local Credit Unions (1 I have an account with, 1 I don't)
2 Online Banks
- Ally (never banked at before)
- Capitol One (have well established credit card)
1 regular bank
Bank of America

and checked them all in an afternoon so the hit would only count once on my reports.


Middle 600's FICO, high salary, though only 10 months on this salary and job.

Winner is...:

Ally Financial with 30k at 3.8% for 72/mo

I always go a longer term, with enough savings/plan to pay off at 24-36 months. This ensures you pay the least in interest, BUT if life shit hits the fan, you have a lower monthly payment to worry about.

Walked into dealership, offered the check, talked them into giving me the toyota care warranty thingie (basically since it was certified used, it restarts the warranty on 98% of the parts, for the next 100k miles), denied all of the dealer bullshit, they signed up the paperwork, and I was out the door in maybe an hour.

 

[cullowheebandit]

I've been in a similar boat before, where I needed low payments for financial flexibility, even if it meant a slightly higher interest rate on a longer loan. Credit unions were my go-to since they consistently offered better rates; the back-and-forth negotiation with dealerships also yielded decent deals. I get the uncertainty of self-employment—planning for the long term feels safer.

If you’re ever in a pinch and looking for a fast solution outside traditional loans, something like this option for fast loans could cover urgent needs: LoansInFinland. It's quick, but always check terms closely.