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For someone with a "fair credit" obtaining a car loan would be a little tricky. The difference between "fair credit" and "bad credit" is quite huge. A person who has been labeled as one with "fair credit" may have actually had a good credit history in the recent past and may have slipped into the fair credit bracket only due to a couple of late payments or so. This tag could easily be a few years old and if the individual is making a conscious effort to improve the credit score and trying to get their finances in order, then it is only fair that the person is given a chance to do the necessary repairs. In such a situation getting a car loan will not be as difficult as one might assume.
There are many who typically fall into the fair credit bracket and yet wish to avail a car loan. There are many options available through various lenders. One has to find out their credit scores and have proof of income to start with. This will help in determining the rate of interest that would be levied on the car loan. For someone with a good credit rating the interest will obviously be on the lower side and for someone with a bad credit the interest would be higher. However, for those with fair credit the interest charged would be somewhere in the middle - may be moderate.
For some reasons lenders tend to put fair credit and bad credit on the same level and charge exorbitant interest. Under such circumstances, it is best to talk to the lenders and ensure that they understand that your credit rating is not bad but fair and give a valid reason for slipping into fair credit. Emphasize the fact that you are working hard at improving the rating by paying off all the outstanding debts. This would certainly help to get a better deal on the interest rate.
There are many institutions, which provide car loans for those with fair credit. If one has a good relationship with the bank manager for many years, then it would be easier to negotiate with the manager and get a better interest rate.
The best place to find good deals are online. A lot of time and money can be saved by making searches online. Loan calculators will help in working out the costs of financing a car loan. Online providers will give a quote right away and help in cutting overhead costs.