One way the experts recommend to beginners in shopping for the best low interest auto loans is for the potential borrower to ask pertinent questions. If the lender offering low interest auto loans refuses to answer your questions, then maybe you ought to leave and find another lender – all borrowers have the right to ask questions, since you are going to be paying your own money to this lender.
One question you could ask is: if I opt for the low-rate financing, will the lender give me a lower or higher rate for the car in question?
Next question to ask is: can I get a lower price if I pay the lender cash upfront? Can I also get a better price for the car if I opt for financing from my preferred credit union or bank?
Other questions to ask are; how big is the down payment that this lender wants for this type of low interest auto loans? (Some lenders may ask you to pay up to 30% as down payment.) How long is the payment period for the loan amount you will be taking out? Will you be expected to shell out a balloon payment sometime towards the closing part of the loan? Do the low-interest auto loans have mandatory riders that you have to pay for (like supplementary services or special merchandise) to qualify for the low interest auto loans? Will you be able to have your low interest auto loan processed within the time frame specified to avail of special rates (for the promotional packages?) Do the low interest auto loans apply to purchase of just specific models or year of make of certain cars, or to any and all cars in the preferred car dealership? What is the condition of the vehicle you will be purchasing, and can you back out of the deal if the vehicle does not meet your standards?
Lastly, you should consider whether you have the option of getting low interest auto loans from other lenders aside from the car dealership you are talking with. This helps you feel less trapped, in case the car dealership makes less than desirable offers to you.