While in the process of finding the ideal car loan, one analyzes the various interest rates offered, reviews of the companies, the processing time, and various other factors so that a comprehensive list can be prepared in order to get the ideal options for car loans.

For you to find the perfect car loan, the article ahead has broken down your choices into two convenient categories to help you to find the correct lender as per your requirements.

• Best of the banks : U.S. Bank, LightStream and Bank of America
• Best online auto loan services : MyAutoLoan and CarsDirect

Americans take billions in car loans each year, with the average amount of a car loan this year being about $30,000. Considering the amount, it is important that you find the best car loan that suits your requirements.

The best lenders for car loans are the ones who offer a wide variety of loan options, good customer support, quick approval, competitive rates, and good customer resource. The choices have been categorized from which you can pick one that suits you the best.

Best online auto loan services

• CarsDirect : CarsDirect is a renowned car purchasing service, but it also offers a portal where you can get ideal car loans. It offers customer-friendly information as compared to other competitors, including buying strategies, loan calculator, dozens of write-ups and articles, trade-in-value calculator, and such. With CarsDirect, there is no maximum or minimum amount of loan that you need to apply for. For instance, there are a number of companies that would not allow you to apply for a loan for an amount less than $1,000 to $5,000.
• MyAutoLoan : MyAutoLoan connects the various lenders to prospective customers looking for loans. They have a confidential process that helps consumers easily research and look for the best options and obtain up to four loan offers.

Best of the banks

• LightStream : Depending upon the credit score, LightStream offers unsecured and secured loans. Its terms and conditions are most likely to beat the others. Car loan interest rates start from 3.34% APR for loans ranging from $10,000 to $24,999 for 24 to 36 months.
• U.S. Bank : The US Bank offers the perfect combination of loan choices, customer-friendly information, and competitive rates of the bank lenders. The loan options of this bank incorporate financing for cars that are used by private sellers, which might be shunned by bigger banks. For various prospective customers, there is an auto-loan process available. A special discount program named “green car” is available that reduces the interest rates for buyers who choose to purchase EPA-certified “SmartWay” and fuel-efficient cars.
• Bank of America : This bank offers rates that are 3.39% for a new car, 4.39% for a refinance, and 4.09% for a used car. It provides all kinds of car loans.