AUTOL LOAN TERMS

Applying for an auto loan is the first step that most people take when they want to buy a new or used car. Auto loan terms include the interest rate, length of the loan, and your monthly payment. The interest rate and the length of the loan will determine how much you will pay each month. While you will have to opportunity to pay your loan off sooner, you will have to make the minimum monthly payments so that you do not default on the loan.
The interest rate you receive from your lender is based on the following:

• Credit history
  


• Amount of the loan
  


• Federal interest rates
  


• Amount of down payment
  


• Length of loan