Keep Your Loan as Short as Possible

Eventually there comes a time when we all need to get another car, whether new or used. Having the debt that comes along with it can be a burden. There really are very few alternatives though, unless you happen to have the cash that is. And how many of us have that stashed away for times like these?

Lower Your Payments

There are, however, a few tips to help lower the amount of payments coming out each month. First off if one has bad credit, there are dealerships  that will still sell you a car, but you really need to know just what you are getting yourself into.

The wisest thing to do before you even go out and attempt to buy a vehicle is to get your loan first. It is also a good idea to have done some window shopping ahead of time so that you have an idea of the size of loan needed. A car can be around 15 to 25% less than the tag price.

Apply for your loan after figuring out what the car is going to cost you and be sure to cover a blanket price. This way after you and the dealer have come to a satisfactory price you will be able to let your bank or lender know the exact price of the chosen car.

Dealers Don’t Want Cash

Here’s something to know. Dealerships are not looking for you to be bringing in your own money. They want you to borrow from them! Because when you have your own funding it removes the deal from their hands. They have financing that they will gladly give you if you fit the credit specifications. On average, the car loan will cost the buyer somewhere around 7% to 15% all depending on the buyers credit record, ableness to re-pay the loan and financial history.

0% Financing

We`ve all seen teasing offers of 0% financing. This is usually a yellow light to the consumer because not many can actually get that. One can very easily find oneself stuck with paying double the price in the end!

If you do choose to take on dealership financing, due to bad credit etc, make sure that you really read all the fine print. Know exactly, right down to the dollar how much you will be paying before signing! There may be things you don`t want to agree to and are so subtlety written in the smalls that they can be easily overlooked. You want to get the car loan paid off as fast as possible and many dealers would prefer that you take your time over a longer period because they make much more interest!

And cars lose their value very fast as it is.

So before you sign anything take some time to really think your plan out thoroughly!

Free Auto Credit Score

Know YOUR Auto Credit Score?

Free Credit Score

Auto Loans

Get Financed Regardless of your Credit