Personal Finance

Car ownership is a necessity – but it’s expensive. And when your monthly auto loan payments add up, you can quickly find yourself in dire financial problems. But you aren’t alone, Right now, there are currently 107 million Americans carrying auto debt, according to data released by the Federal Reserve Bank of New York. And six million of those people are at least 90 days behind in their car payments.

In the U.K., a current account is a bank account that offers you access to a range of different types of banking benefits — current accounts are popular in the U.K. In 2015, 52 percent of current account customers in the U.K. had one current account, 28 percent had two current accounts and 19 percent had three or more current accounts, according to Statista.

One of the most critical factors in minimizing the hit to your wallet is getting a great rate on your loan. The APR for auto loans ranges from as low as three percent to as high as 10 percent, so you’ll need to do your homework to make sure you get the best deal. To help out, here are 10 important tips you should keep in mind to keep your costs down and come away with the lowest rate available.