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Financing a Car

Car buyers sometimes feel as if they are at some sort of disadvantage when they walk into a car dealership. This is because car dealerships know that consumers buy a new car on average every 5 years. The first thing you need to realize is tha purchasing a car and financing a car should be considered two separate deals. Don't let the financing department take advantage of you because you think you have closed the deal with the car salesman.

The best tip is to simply shop around and compare auto loan rates from a few different sources. Before you start comparing rates, make sure you check your credit history to fix any mistakes on your credit report. The government recently passed a law allowing consumers to check their credit report for free every year.

After shopping around, decide on a place to get the loan from and get pre-approval. Be sure to check out the car dealership's finance rates. Sometimes they offer incentives that are lower than banks and credit unions.