If you are in the market for purchasing a car, you must do your homework. Not all buyers are looking for the same car and not all lenders are offering the same deal for the same person. Lending institutions that are offering auto loans have their individual set of requirements and regulations. This forces them to offer loans to a variety of people. Some institutions may be able to extend credit at lower rates while others are able to provide longer terms. Different companies that are loaning out money will cater to the type of individual that they are targeting. Your job is to find the lender that is willing to approve a loan that meets your needs.