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8 Tips to Save Money on Your Car Loan: A Comprehensive Guide Buying a car is a significant investment for most people. In fact, after housing, a car is often the second most expensive purchase many people make. For most people, purchasing a car outright with cash is not an option, so they must rely on car loans to finance the purchase. However, car loans can be costly, with high interest rates and fees. In this article, we will discuss some strategies to help you save money on your car loan. Improve Your Credit Score Your credit score is one of the most critical factors that determine the interest rate you will receive on your car loan. Lenders use your credit score to assess your creditworthiness and decide whether to approve your loan application. The higher your credit score, the lower the interest rate you will receive. Therefore, it is crucial to ensure that your credit score is in good shape before applying for a car loan. To improve your credit score, start by reviewing your c