New car loans, as the name implies, are loans used to purchase new vehicles. They can be obtained through lending institutions such as banks, credit unions or car dealers. Traditionally, consumers would have to visit the locations of these institutions to apply for new car loans, but in the age of the Internet, the application process can usually be completed online.
When you purchase a used vehicle, it pays to do some tentative planning and arrange your used auto loan in advance of looking for a vehicle. There are a lot of companies offering credits for used car buying, so it's sensible to shop around to find the best deal.