Have you been looking for a car loan but have no idea where to start? Getting a car loan is your best bet if you need financing for a vehicle. Just follow this easy step-by-step guide.

Step 1: Review Your Credit Report Regularly.

If you have bad credit or your income isn’t high enough, you’ll have to pay a higher interest rate on your auto loan. To see whether this is the case for you, check your credit report before applying for an auto loan. Make sure there aren’t any errors or fraudulent activity on it.

Step 2: Shop Around for Auto Loans.

Once you’ve reviewed your credit, it’s time to look at auto loans. Even if you intend to take dealership financing eventually, you’ll want to compare quotes from large national banks and local community banks or credit unions first.

Step 3: Get Pre-Approved for A Car Loan.

When you’ve narrowed your list of potential lenders to a handful, it’s time to seek interest rate quotes and compare deals. You can get the rate by having lenders compete for your business. Additionally, lenders evaluate different aspects of your credit report differently; thus, interest rate offers for vehicle loans might vary significantly.

Step 4: Review the Dealer’s Loan Offer.

You may still have a chance to get an even better loan rate from the dealer after you’ve done a test drive and discovered a vehicle that suits your needs. Automobile manufacturers have their own banks that are just for dealership-based vehicle purchases, and they occasionally offer below-market interest rates. When the finance manager learns that you have been pre-approved for a specific rate, he will probably try to undercut that rate to get your business. You can apply to see how low your interest rate may go.

Step 5: Choose and Finalize Your Loan.

Congratulations! You can relax knowing you secured a competitive financing rate if the dealership beats your pre-approved rate (and the other terms are the same). You don’t have to accept your additional offers; just take that loan. Read the contract carefully before signing it to ensure there are no deceptive clauses, such as hidden costs, a longer loan duration, add-ons you didn’t request, an early payment penalty, etc.

FREE GUIDE: Everything You Need to Know About Car Tires

Like everything else, buying tires for your car isn’t as easy as it used to be. There are a lot of confusing terms out there, making it  challenging to choose the right tire. This free guide will explain some important things you need to know about car tires in the simplest way possible. Let’s jump right in.

What Type of Tires Should I Put on My Car?

There are three main types of tires that you can choose from depending on your needs:

All-Season Tires: Most modern cars are equipped with all-season tires, which are created to offer adequate all-around capabilities all year long and in all weather conditions.

Summer Tires:  These tires are made primarily to provide traction in dry and rainy conditions in mild or warm climates.

Winter Tires:  Formerly referred to as “snow tires,” winter tires are made to offer the most incredible grip in snowy and slick winter driving conditions. No other type of tire can equal their traction in these conditions.

How Long Will My Tires Last?

Many but not all tires carry a warranty and manufacturing-quality/defect warranties. To get a better idea of how long a tire might last and to compare the expected longevity of different tires you’re considering, check out the manufacturer’s warranty. You can find this information online or on marketing material from the tire maker.

Tire manufacturers guarantee that their tires will last for a certain number of miles, but in reality, about three-quarters of all drivers find that their tires last longer. If you buy a set of tires and the tread wears out before you reach the mileage cap, you may be eligible for a credit from the manufacturer, which you can use to buy a new tire.

Should I Buy a Standard Replacement Set or Go for An Upgrade?

If you plan to replace what came on the car with equivalent products, you’re ready to go. But if you’re upgrading your tires, it’s best to stay with a tire that has the load index and same or higher speed rating as your original equipment tires. If you have trouble finding an exact match, look for a similar tire in a similar size. If you choose to change the wheel size, check with your dealer about whether your vehicle can safely accommodate the change.