Hoosiers who donâ¤™t have much cash but are still looking to get a new ride can either buy a brand new car or opt for a sturdy used one. If they choose the latter, especially from Indianapolis used cars dealers, it could be mainly due to the cheaper price tag, though some may argue that the purchase process itself is a bit more complicated. There are some who feel taking out a loan for a used car isnâ¤™t worth it. They contend that those loans are more expensive, and by the time the car is paid off itâ¤™s not worth the amount of the loan. The truth is: interest rates on used car loans can be higher due to the vehicle being a loan collateral, but there are a few tips you can follow to help get an excellent deal on a used car loan.