Although car loans aren't typically made through the banks for used vehicles, you may wish to consider a used car to keep depreciation and purchase price lower. Different car manufacturers offer financing for used cars and personal loans for lower priced vehicles may also be an option.

If you have the choice at the dealership between going with either super low interest or no money down, it is typically more advantageous to take out a loan and put the money down up front, opting for a lower interest rate. You may be able to work both a smaller personal loan in with a vehicle loan and still end up paying less over the term of the loans.

When you go into negotiate the final price of your new or used vehicle, the more you know about auto loans and financing options the better you will be at looking a the big picture. Don't trust that the salesperson will offer you the lowest interest rate or the best deal, they are there to make money for their company.