(04/09/2010) According to a recent study by the American Automobile Association (AAA), the cost of car ownership has risen since last year.  The study attributes this change to an increase in prices for fuel, tires, and insurance.  One way to lessen the cost of owning a car is to be smart when purchasing it: look for fuel efficiency and finance it with the lowest rate auto loan possible.

When choosing a car to purchase, fuel efficiency should be one major factor to consider, especially if you are a high mileage driver.  Gas prices may fluctuate regularly, but owning a fuel efficient car will always be a smart choice no matter how much gas costs.

Additionally, consider financing your vehicle purchase with a low rate auto loan.  If you already have an auto loan, check the rates currently being offered.  If they are lower than your current loan, consider refinancing with a lower rate.

The best way to quickly locate low rates being offered in your area is to scope out online rate tables.  Online rate tables gather loan data from various lenders in your area and populate the tables with the information.  It quickly becomes easy to see which lenders offer the best deal on your auto loan.  Contact the lender to verify that they are still offering the rate and to ask any questions you may have about their loan product.

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