People are always out shopping for cars and one of the biggest problems is not having enough cash to down pay or enough money to even afford the car. When you're at the dealership and dealing with the finance manager, you're going to get a few options in order to pick up the car on the spot. Before even starting, they will run a credit check on you, to see where you stand. Depending on your credit, your interest rate will vary. If you have good credit than you're more than likely qualify for a low interest rate. If you have bad credit than it might be a little difficult to get what you want. There are tons of auto loan companies including banks, which will give out car loans to people who are buying new or used vehicles. There are a few things you might have to consider before even going to the dealership which will be explained in this article.

You may be qualified for a 10000 loan or even a 20000 loan, depending on your income or credit score. Many people who doesn't have good credit, but have a good stable job can easily qualify for this type of loan. Before even going to the dealership, you should know what your credit score is. You should calculate your current earnings and see how much money you can afford to pay monthly. All the prior research on your credit will save everyone's time greatly. Most of the time spent at the dealership is negotiating and figuring out how much money you can afford monthly. Even if your credit isn't good, you can still qualify for a 10000 car loan because the car itself will be used as collateral. To get a better interest rate, your best bet would to bring along someone with good credit to cosign.

If you're purchasing a new car or a used car, a 10000 car loan APR will differ. The interest rate on a 10000 loan will be lower on a new car mainly because the value of the car is much higher. Depending on how many months you negotiate with the finance manager to pay off the car, will correspond on how much you pay monthly. Once both parties have agreed on the amounts and rates, you can pick up the car right there and then. The only thing left is to get a one month insurance on the car to take it off the parking lot. If you don't know any car insurance during that time, they can provide you with one and set you up with a car insurance company. It would be a good idea to later find your own auto insurance if you're able to find a price cheaper than what the dealership offered you.