Car Buying Tips

If you are going shopping for a car, there are a few preliminary car buying tips to know beforehand:

Know Your Credit Score

Get your credit report online, this instant, so you'll have it, and apply for car loans online so you'll know now whether you are qualified. A high credit score does not guarantee your car loan approval. Lenders verify if you have had an auto loan before and if you haven’t, even with a high credit score, you may end up paying a higher APR or even be rejected. You can have a high score but if your current debt load is high, they might reject you.

Online Car Loans: How They Can Help You Get the Lowest APR

The greatest benefit of an online car loan company is you don't have to pay application fees or down payments. Your speedy car loan approval takes just minutes. You just can't beat that. Once you have your online auto financing quotes from a site such as, compare that to the dealer's financing so you have a basis to negotiate your best car loan interest rate. The online sites usually have a lower interest rate than dealers, so online car financing rates are the standard that the dealers must beat.

Know What Car You Want Before You Go Shopping

This is the most crucial intelligence gathering part of your quest for the best deal on a new car. Visit several internet sites and familiarize yourself with the car you want to buy, as well as the options available. Read reviews on the car pricing sites and learn how to calculate the true dealer's cost of that car (hint: it's not invoice price like most people erroneously think). Be aware of MSRP pricing, dealer invoice pricing, and any known factory to dealer incentives or factory to consumer rebates. Print out all the MSRP pricing, the dealer invoice pricing, and new car rebates information. Then you'll use this info to calculate your buyers offer to the car dealer.

Car buying can be a fun experience, just make sure you are prepared beforehand with all the information at your disposal.

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