One thing to keep in mind is that most banks will charge higher interest rates for a "used" car than a new car. That's too bad when buying one of those auction cars with only 100 miles on it. US Bank is currently running a car loan special that starts as low as 6.85% (5 years) regardless of new/used or dealer/private party sale. I'm in banking (not at US Bank) so I know that's a great rate right now. It worth checking out.