Posts tagged ‘automobile’

Auto Financing Tips

If you are looking to buy a new automobile no doubt you have already started doing your homework. Comparing vehicles and models, accessories and mileage and checking out an abundance of dealerships to see who has the best price for the exact vehicle you want to drive.

You need to do the same thing when it comes to getting financing for your new vehicle. Financing options abound, and everyone has a slightly different rate with slightly different terms. It is up to you, the consumer, to find the deal that is right for you.

The process of finding a financing option which is best for you can seem daunting but there are at least a few things you can do to make the process a lot less painful and lot more effective in the long run.

Dealer Financing

In many cases the dealership will work to help you find an option that you can handle. Remember, they want to sell you a car, so it is in their best interest to help you buy it, but there is only so much they can do. The rest is usually up to you.

Start by comparing financing options available at institutions other than the one your dealer recommends. Don

Financing Tips

If you are among the lucky few who can pay cash for your brand new vehicle, you likely do not worry about financing, your credit score or who is offering the best interest rates on auto loans.

If that does not describe you, however, all those things should matter to you a great deal. In fact, keeping an eye on your credit score and knowing who is offering the best financing options is crucial information to have before you ever walk in the dealership door.

Today more new car buyers than ever before are looking for financing options offered outside the dealership. This has less to do with the reputable nature of dealerships and more to do with being a savvy consumer. At one time was the difference between the rate offered at your local bank and the rate available at the dealership were pretty close, if not exactly the same. These days the interest rate you get down the street might be quite a bit different than the rate the dealer offers you, especially if you have excellent credit.

There are banks, credit unions and an assortment of lending institutions looking to help you finance your next new vehicle purchase. This will likely lead dealers to offer more competitive rates, but so far, this has not been the case.

Leasing has become an ever more popular option for those looking at a new automobile. With a lease you might get a better monthly payment but you end up with no vehicle and no end to the payments. You don