When buying a car, most people finance the purchase instead of paying with cash. If you are in the market for a new or used car, understanding car loan basics is essential for getting the best deal. It can help you save on interest and select a loan repayment term that fits your budget. Whether you're a first-time car buyer or you're looking to upgrade to the latest model, we'll break down how car loans work in this auto financing guide. We'll cover interest rates, loan term