Financing Your Car -- What You Should Know

By: Dennis James

Buying a new car is the dream of many Americans; as a result
many are sold each year, that is after financing is obtained in
order to pay for them. While you might think going and picking
out a car and then receiving on the spot financing is relatively
easy it is not always so. Before you head to your local
dealership to buy the car of your dreams, consider these tips on
automobile financing.

Tip #1 Credit Score Your credit score has everything to do with
whether or not you receive automobile financing as well as the
interest rates and down payment requirements you will receive.
Because of this it is incredibly important for you to know your
credit score before you ever head to the dealership. If your
credit score is above 600 then you should be able to get
financing without too much trouble, however if your score is
below 600 you should spend a few months lowering your bills and
focusing on increasing your credit score so you can not only
qualify for financing, but also for a great interest rate in
order to buy that new car.

Tip #2 Compare Rates Different lending institutions from banks,
online lenders and the dealership will be able to finance your
vehicle. However, each of them is likely to have different
interest rates, fee structures, and general requirements for you
to meet. As a result, you should evaluate as many financing
options as possible in order to find the best deal for you.
Because, when it comes down to it, you don't want to pay a
single cent more than you have to for your car financing needs.

Tip #3 Get Pre-Approved If there is any way you can get
pre-approved for auto financing then you should do so. The
reason for this is when you are pre-approved and head to the
dealership you will be able to negotiate as if you had cash in
hand. This will allow you to qualify for all the rebates and
discounts the dealership might be offering and you can negotiate
the price of the vehicle down as well.

Following these tips will help you get the best financing
available to you considering your personal credit score and
financial situation, not to mention the car of your dreams. So
follow these tips, save money and finally put that new car in
your driveway.

About the author:
"It is time that we the people stand up and declare we will not
be overtaken by the car dealers, but rather we will take the car
dealers by storm. Researching the cars is not enough; we need a
way to research the dealers themselves." - Dennis James

At Car Dealer Check
you can read independent car dealer reviews written by car
buyers for car buyers.