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For new cars, rates below 5% are generally good. Rates vary based on credit score, loan term, and lender. Credit unions often offer lower rates than dealerships.

Experts recommend 20% for new cars and 10% for used cars to avoid being underwater on the loan (owing more than the car is worth).

Shorter terms (36-48 months) mean higher payments but less interest. Longer terms (60-72 months) lower payments but cost more and can leave you underwater as the car depreciates.

The trade-in value is what the dealer credits you for your current vehicle. It reduces the amount you need to finance. Getting quotes from multiple sources maximizes trade-in value.

Sales tax, registration fees, dealer fees, and gap insurance are not included. These can add $1,000-$5,000 to the total cost of purchasing a vehicle.