Do some research:
First, you should go fully prepared. Equip yourself with useful information otherwise this deal will not be easy on your pocket. You should visit the information office of different financial institutions and ask them for their packages. Get the relevant literature and then compare their loan and payment plans. Do not confine your search to financial institutions. Sometimes, car dealerships also offer financial assistance so do not ignore this option.
Go for short-term loan:
Another way to get good car loan rate is to apply for a short-term loan. Though, you will have to pay a significant amount in shape of monthly installments but ultimately the interest rate will be low. Do not try to get relaxation in the payment plan as you will have to pay the price in the shape of higher interest rates.
Avoid loans with zero down payment:
Sometimes, the financial institutions offer the applicant a loan with zero down payment. You must not get trapped as these types of loans always come with high interest rates. It is most likely to benefit them not you. Your financier will not only manipulate your monthly installments but you will also have to pay much more interest than a regular payment plan.
Try to get a bank loan:
There is no doubt in that many financial institutions are out there in the market. There are private lenders, car dealerships and finance companies but you should prefer a bank as this financial institution is the most trusted one. Moreover, you will get a chance to negotiate with a dealer more efficiently.
Do not disclose your limits:
The most common mistake people make is to reveal their financial state in front of the dealer. This enables them to influence your payment plan and increase the interest rate.