Are you shopping around for a car? Well then, the subject of car financing should be something you should be studying and researching rather seriously! For most of us, the purchase of a car goes hand in hand with getting financing for it. Whether you’re in the market for a new car or a used car, you can get financing for it most times from the dealer you’re purchasing the vehicle from.

Getting your car loan or financing approved is really where the delays can occur. If you are someone who has a handle on their background, has the right paperwork, is armed with the knowledge about your credit score and history and what that means, you can get going in your car that much sooner. If you have good credit history and a good credit score, you’re pretty much set. So it is important to build your credit history.

Your other option when looking for a car loan is of course, to go to your current bank, or head to a bank that offers competitive and attractive car finance options. Do keep in mind, that some banks offer financing for only new cars, or at the least, way better deals for new cars. However, with a little digging, you can definitely avail of car finance services for a used car as well – some banks offer competitive loans and rates of interest for new as well as new cars.
How do you go about applying? Well, you can do it online, call the bank’s helpline and speak with someone in the car finance division, or just head over to the nearest or most convenient branch and have a conversation with a bank representative. Keep in mind that every bank will have its own rules and regulations, including, in the case of used cars, how old the car is (which year model is it?) as well as how many miles the vehicle has on it. And obviously the amount you get towards a used car will have a cap that will be lower than what a new car loan will offer.