These days, with a tightening economy and the credit card and mortgage crunch, it's tougher than ever to find a good car loan -- and carmakers are feeling this, too. Nonetheless, if you need a set of wheels and need to apply for a loan, how do you do it? Applying for a car loan online might just get you the best rate, so that you can get the transportation you need to get to and from work and keep paying those bills.

Traditional lenders like banks and car dealers are tightening down loan requirements and are likely not the best candidates to go to for a car loan, unless you have an absolutely stellar credit rating. That said, though, there are many places you can apply for a car loan online. Shopping online for a car hummingbird loans online installment loan lenders is also good way to find the most competitive rates; you can find several lenders who are willing to work with you, and you can pick the best deal. After all, even in this economy, competition still exists, and these places want your business.

With the credit crunch today, even those with what was once considered "good" or even "average" credit are having trouble finding loans. If you have bad credit, it can be even tougher to find a car hummingbird loans installment loans no credit check direct lenders when you need one. However, there are several places to go for a car loan online that specialize in lending to folks with bad credit. Many lenders, especially those specializing in online car loans, are less picky about how good your credit is compared to your local bank.

Be aware that whether you are going through your local bank, the car dealership, your credit union, or an online lender, keep in mind that they are all looking at the same credit report on you to make their lending decision. A lending decision and the corresponding interest rate is based on what the lender perceives as their RISK in making a loan to you. The good news is that if you have a good credit history, chances are better than excellent that you can find your best car hummingbird loans tribal loans for bad credit deal online. The equivalent good news for those with just average or even with bad credit is that you can get a car loan from many of these online lenders, where your local bank or credit union may have turned you down cold.

But as mentioned earlier, the factor of RISK is involved when the lender making their lending decision, which is based primarily on your credit rating. If their perceived risk is higher, then the good news is that you can probably still get the loan instead of being denied outright, but the interest rate is going to be higher than someone who has squeaky clean credit.

This could actually be a benefit to you if you have bad credit because if you go ahead with the loan and keep up with your payments on time, this will be an excellent reflection on your credit report and will definitely help to raise your credit score. With a better credit score, you can actually then in about a year or so go to the lender and refinance your car loan, and since your credit is much better now, you can probably get a much better interest rate as well as overall lowering your monthly payments,

The key is to shop around, even online. Get a free online car loan quote, and then start comparing features, interest rates, pre-payment penalties, and all the other aspects of an online car loan quote. It will take some time and effort, but it will be well worth it in terms of the money that stays in your pocket as a result of the savings you will get.