Everyone likes to save their hard earned money, especially when one has to borrow some. How do we save the maximum while applying for loans? Whenever I'm asked a question like this, I always look at it from the creditor's perspective: the competition for loans is huge. Take your average high street bank, for example, and let's pretend for a second that another bank has just opened up opposite them. The new bank offers loans at a lower interest than the current one. This competitive fall in interest would paint a gloomy picture for the first bank.Although a little risk is involved, people lending money generally make a good profit. So by shaving a fraction of a percent off of the interest rate the bank opposite would quite happily draw in a good number of the first bank's customers. That's bad for business, so the first bank lowers their loan rates to match, and throws in a free gift. The price wars are similar in some respect to those in supermarkets. But I doubt you spend quite as much on your groceries as you do on taking out a loan. That's why it's important to get the best loan deal for you first time, rather than wishing you went elsewhere after you found out about another creditor.When you try to get a loan, there are two things you should remember: what's the best deal for someone else is rarely the best deal for you; and they WANT you to choose them over every other creditor out there. According to me, the best loan deal embraces both these facts at an equal level. Make sure you take both of them into consideration. Often the loan you desire is different from what the creditors offer, so it is better to talk about it with your creditors. If you need X from your loan, but aren't so keen on the Y they're offering, talk to them about changing it to Z. X, Y and Z can be anything, from a low interest rate, to quick payment, or perhaps being flexible about credit history. If the deal still doesn't come off, look for other creditors.The second rule is that, what with the huge number of creditors out there, you don't need to spend hours trying to squeeze every last perk from one loan if another creditor offers everything you need. Needs and "wants" are somewhat tangential. Do a little research in to how much you can realistically hope to pay back per month, how much money you really need, and anything else that you can use to make sure you get what you want, and not what the creditor thinks you want.So, in summary, work out what sort of loan you actually need, make a list of likely creditors, then go talk about customizing. Remember that you can always use companies against each other by suggesting that the other creditor was willing to give you a better deal, and ask what they can do to better it. Switch over to the next creditor if you don't get what you are looking for. You should eventually find the best deal.