These terms are often used interchangeably. Both refer to financing options to purchase a vehicle. A car loan is typically a secured loan where the vehicle serves as collateral, while car finance is a broader term that can include loans, leases, and other financing arrangements.

The best car loan rates typically go to borrowers with strong credit scores and stable income. To find cheap car loans, compare offers from multiple lenders, consider a shorter loan term, make a larger down payment, and check if you qualify for refinancing your current car loan for used car at a lower rate.