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