Car buyers’ best cost-saving move: shop for a loan first

With the cost to own a new vehicle rising, it’s more important than ever to consider what you’ll pay for a car loan and to shop for the best interest rate.

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FILE – In this May 19, 2019, file photo, a line of unsold 2019 Tucson sports-utility vehicles sits at a Hyundai dealership in Littleton, Colo. With the cost to own a new vehicle rising, it’s more.

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Car buyers’ best cost-saving move: shop for a loan first.. With the shift in the loan market, anyone looking to buy a car or refinance a loan needs smart strategies. Here are five things.

2. Shop Around For The Best Rate. The loan-shopping process should start long before the car-buying process, Bartosch says. Calling around, or submitting online applications, could save you hundreds of dollars. "Most people just think of going to the dealer to get a loan," says Sonia Steinway, president of auto loan company Outside Financial.

With the cost to own a new vehicle rising, it’s more important than ever to consider what you’ll pay for a car loan and to shop for the best interest rate. car buyers’ best cost-saving move: shop.

With the cost to own a new vehicle rising, it’s more important than ever to consider what you’ll pay for a car loan and to shop for the best interest rate. The average new car loan interest rate reached 5.5% in 2018, up about one percentage point from the previous year, according to Ben Bartosch

FILE – In this May 19, 2019, file photo, a line of unsold 2019 Tucson sports-utility vehicles sits at a Hyundai dealership in Littleton, Colo. With the cost to own a new vehicle rising, it’s more important than ever to consider what you’ll pay for a car loan and to shop for the best interest rate. (ap photo/david zalubowski, File)NEW.

June 06, 2019 10:52 AM. With the cost to own a new vehicle rising, it’s more important than ever to consider what you’ll pay for a car loan and to shop for the best interest rate.

 · Car buyers’ best cost-saving move: shop for a loan first By PHILIP REED of NerdWallet June 6, 2019 FILE – In this May 19, 2019, file photo, a line of unsold 2019 Tucson sports-utility vehicles sits at a Hyundai dealership in Littleton, Colo.