Dealer Financing Ins and Outs
DEALER FINANCING INS AND OUTS
When indirect automobile dealer financing is your only option keep these things in mind. Don't let the sales representative get you stuck on monthly payments. Keep the price of the automobile your want to purchase your top priority. Once that price has been determined, and you feel comfortable with it, then, and only then should you discuss monthly payment. Monthly payment will be determined by the interest rate you will be given. By requesting that the very best rate be located for you, the dealer will hopefully search for the best rate available to you. Every auto lender views things just a little differently; therefore varying rates will be available depending on the auto lender used. Don't let the dealer use his "lender of choice" unless it is your only option, or unless comparatively they are competitive with other lenders. Find the automobile you are interested in and before you settle into negotiations on that vehicle:
- Test drive the vehicle
- If purchasing a used auto, take steps to receive a lemon check on the auto if necessary
- Request all maintenance records
- Request previous accident history on the auto, or check for yourself the Vehicle History Report
Please don't let sales pressure intimidate you. Again, set the price you are willing to pay for your automobile before you begin your negotiations, and stick to your guns. You are ultimately looking for your best price without robbing the dealer, who wants to make a profit too. Watch for any "extras" that you were not aware of during negotiations that might be added to your final contract. Don't agree to any extras until you have compared "after market" values for the same service. One of the biggest consumer mistakes is to throw extras in as part of the contract, thinking you are saving "out-of-pocket" costs later.
* Extended Warranty
* Gap Insurance
* Rust Proofing
* Road Safety Value Packages
