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At The经销商

Considering Financing?

Come prepared with an outside offer from your bank or credit union. Also don't get pressured in to a loan at a longer term than you want! Never play the payment game with them, negotiate the price, settle on terms and get the deal done. They will try all kinds of creative tactics to get your payment where you want it, but they end up jacking up the interest rate and extending the terms.

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How do I pay for my new car?

Unless you have a bottomless pit of money, you will probably need to look at financing your new or used car purchase. We will look at the options available to you, and even do some basic math. Learning the basics of auto financing can save you thousands of dollars over the life of your loan.

Should I lease or buy a new car?

It really comes down to this... Do you want to be driving a new car every 2 - 3 years and can you deal with your mileage being restricted? Leasing is a great way to drive a little more expensive car than you could afford if you were buying, but you won't own it after the lease term is up. For some people that's fine, for others they plan on not having an eternal car payment, and keep their vehicles more than 3 years. I personally don't like a lease since I don't want to have to worry about mileage and if I keep the car longer than 3 years, I won't have a car payment to deal with.

How to finance your new car.

As if you didn't have enough trouble finding the car of your dreams now you have to figure out how to pay for it. No doubt you see the low monthly payments offered in the paper. I bet you also had to squint to realize that it was a lease price being advertised. Be aware of all the low to zero interest rates advertised, they often are only valid for customers with perfect credit. Making sure your Credit is in tip-top shape will help you qualify for these low interest rates.

Decide where you will finance: It's convenient to finance through the dealer but many times you are not getting the best interest rate.

Consider the following sources:

  • Credit Unions: If you belong to one, you can usually get much lower interest rates. Credit Unions are there to serve you, not themselves.
  • Online Lenders: With lower overhead, online lenders can offer you better rates than a dealer.

The idea is to have your credit in order, several finance offers in your pocket BEFORE you ever step foot in the dealer's showroom. This will allow you to get the best deal possible when it comes to terms and interest rate. A dealer will make some from arranging the financing, so they have an incentive to work with you and match or beat your other offers. They also usually get paid more if the interest rates are higher, so beware they are really working against your best interests when it comes to loan terms.

你还需要考虑......

  • 下行:大多数经销商需要下行。如果您在水下的汽车中交易(您欠的比它的价值超过),您可能会在您需要GAP保险的情况下。GAP保险是一项小政策,涵盖您正在融资的车辆的贷款价值和价值之间的差异。如果发生车辆的事故,您将没有足够的保险来涵盖贷款支付,差距保险填补“差距”。随后的其他考虑因素是折旧......一旦你开车离开那辆车,它会失去一些它的价值。你想尝试你最努力的,不要用你的贷款去“水下”,因此大大的司到可以通过覆盖第一年折旧的一些折旧来帮助。

  • Check the fine print: Make sure you will not be penalized for paying off the loan early or forauto refinancing. Also check the minimum collision coverage required.If you are used to carrying a $1000 deductible and the lender requires a $500 deductible, you could be in for a surprise when the insurance bill shows up.
  • If you decide to go to the dealer to arrange the financing, request to see the approval letter from the lending institution. Dealers can mark up the interest rates and earn commission by doing this little trick.
  • Before signing: Check the fine print ! Always keep a calculator with you and double check everything.