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How to get an auto loan


For many Millennials, buying their first car is an exciting time. Unfortunately it can also be stressful when it comes to applying for an auto loan. Getting approved for a car loan can be easier if you do your homework. ACCC provides Millennials with helpful steps to navigate the auto loan process.

  1. Check your credit – Your credit score will have a big influence on the rate you’ll pay for your auto loan. Usually, the higher the credit score the lower the rate. Check your credit report to make sure your score is accurate.
  2. Pick a payment plan – Look at your budget and see how much you can afford on a monthly car payment. Be sure to factor in fees, interest and trade-allowance to your budget. Car loans come in three to six year terms. Pick the one that best suits your budget.
  3. Research your lending options – Shop online for different banks and credit unions. See the types of loans that are offered and how much they cost. That way you can find the best deal that suits your financial situation.
  4. Get Pre-approved – Once qualified you will be pre-approved for a certain amount of money. You are able to spend less than the pre-approval amount but not more – unless you are willing to make up the difference.
  5. Now it’s time to find a car that suits you and your auto loan!



American Consumer Credit Counseling (ACCC) is a non-profit debt management company that provides consumers with personalized counseling and solutions for consolidation of debt. Since our founding in 1991, ACCC's consolidated credit counseling services and debt assistance programs have been helping consumers consolidate debts and regain control of their finances. If you're wondering "What's the best way to consolidate my debt?", an ACCC counselor can show you how to consolidate your debt without having to take a loan or pay hefty fees. First, check out our credit counseling reviews to see what our customers have to say about our consolidated credit solutions and the personal touch that helps make ACCC one of America's most well-regarded debt management agencies.

American Consumer Credit Counseling - Consolidate Debts - Better Business Bureau American Consumer Credit Counseling - Consolidate Debts - Mass Housing Approved National Industry Standards for Homeownership Education and Counseling American Consumer Credit Counseling - Consolidate Debts  - Council on Accreditation American Consumer Credit Counseling - Consolidate Debts  - NFCC Member