Did you know that most people pay hundreds or thousands of dollars more on auto loans than they have to? Get an auto loan the smart way.Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer.Did you know dealers get a commission on the loans they refer? If you’re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.
Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal.
Comparison shop,you will get the least expensive car by choosing a dealer at random, and you will get the least expensive auto loan.
Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can’t afford, makes you aware of what information you’ll need to apply for a loan, and is a "reality check" of your financial condition.
Tuesday, February 12, 2008
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