Knowing when to be able to get a cheap car loan is very much seasonal. Getting a car loan based on the season is like knowing the right time when to take the perfect holiday. There would be times that car loans will be higher and times that they will be lower. So when you shop around for car loans and it takes you a long time to compare one car loan from another don't be shocked about the rate differences.

There is little point in rushing to accept the first car loan deal that is offered. You are better off taking your time, shopping around and comparing rates to get the dealers to lower their rates and call your bluff.

The interest rates that you are bargaining for will be best or lower during times when the economy is at peak. This also happens when there are lots of capital to lend and overproduction. In the past few years the U.S. have been experiencing abundance of credit and therefore the credit rates became low. This happens because each lending company will like to lower their rates to be competitive to one another. There were times during the abundance of inventory of cars that they were offering zero interest loans. Talk about cut throat competitions.

If you have a good credit rating the best interest rates you could get is 6-6.75% for a new car for a period of 36 to 60 months. If you get quoted on the internet, it is lower by 2%. It is cheaper on the net because they have cheaper processing fees since they are online. Currently the interest rates are slowly rising again. So if you are interested in getting a car loan, it is best to take advantage of the low rates now.

Another time to get the best prices is usually at the end of the season, before the dealer makes room for new models. The dealer will usually price the cars low just to get some space on his garage. If it's ok for you to wait for a year before this happens or your car to be a year old already before you buy it, this is a perfect time for you.

Car deals can also be cheaper during the slow seasons. You can know when these slow seasons are when you see the car dealership suddenly show lots of ads.

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About The Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the http://www.directonlineloans.co.uk website.