I need to purchase a different car, and need to take out a loan...what is the best way to go about it?

Auto finance is what I do for a living there are 10 things that go into making up a car deal weather it's a purchase or a lease and all can effect the interest rate.

1. Term of loan. Shorter the better.

2. Age of vehicle. Newer the better.

3. Miles on vehicle. Lower the better.

4. Amount to finance compared to book value. Lower the better.

5. Credit score. Higher the better.

6. Credit profile. Deeper the better.

7. Down payment. More the better.

8. Monthly income. Higher the better.

9. Time on job. Longer the better.

10. Time at residence. Longer the better.

As long as all of the above are in line with the lender guide lines and you make enough income to budget for the payment you should be approved. As you can see from the above list there are way to many things that go into making up a car deal to guess at your interest rate.

Good luck.

It is a bit time consuming, but there are a few things you can do.

1.) Research, know what you want (and the near equivalent brands) and how much you are willing to pay for it. Also, make sure your trusted mechanics service the brand you are looking to buy.

2.) Become familiar with used car sales tactics. (A good starting point below linked below)

3.) Ask around, ya never know who want's to sell a car or why. Non of your co-workers may be selling a car, but the cousin of your freshmen roommate may have a great aunt that is going to a home, and wont need there car anymore. You can pick it up for cheap.

4.) Shop for loans, Banks, Credit Unions and Online Financial Agencies all offer different loans. You maybe weary of online loans (rightly so) but if you approach a dealership with loans they will likely match/beat them.

5.) Practice, Practice, Practice, go to a dealership that you don't plan on buying from, ride a car you don't like, and get used to negotiating.