Make sure you arrive at the dealership armed with the knowledge you need to make good informed decisions.
Finding The Right Dealer Here at CustomerFunding.com we have hand selected over 1000 dealers across the country, and several lenders, to help our customers get the best deal on their car purchase and auto financing. All of our car dealers are monitored to insure that our customers are treated according to our high standards of customer service and satisfaction.
Get Pre-Approved Knowing how much you can spend on a car is a great tool in getting the best price from the dealer. When you have a set price in mind before you start shopping protects you from overspending, and can minimize your required down payment. When you are pre-approved it forces the dealer to work within your budget. That is why we always say have your loan in your pocket before you go shopping.
How Much Can You Afford A good rule to use take 50% of your gross monthly income and subtract all of your monthly payments like rent/mortgage, credit cards, personal loans, and personal obligations. Now take the balance and multiply by 40% and that should give you an estimate on what you can afford for a monthly car payment. Based on your credit history the bank may make your allowable payment higher or lower.
Know Your Credit Knowing your credit is a vital part of the car buying process. Not knowing what is on your credit report can cost you $1000s of dollars in extra finance charges. When you know what is on your credit report and your exact credit score you can negotiate the rate that the dealer/lenders offers you. That is right, you can negotiate the rate of your loan but only if your have all the ammo. You can get your credit report and score for free
Negotiating A Fair Price Research, research, and more research. What that means is research the car you want to buy. Know the value of the car. Know the history of the car. Know how well the car retains its value. These are things that will put you in a better negotiating position with the dealer.