Auto Finance Checklist

This is a checklist of the important things that you should never forget to do while you are looking for financing options for your car.

  1. Check your credit report for any possible errors resulting in lower credit score and get them corrected before anything else. Getting a higher interest rate on your loan just because your credit score is lowered by a few errors is the last thing you want.
  2. Take the accurate credit report before going to dealership, banks and credit unions to shop around for auto finance deals so that you get the best possible deal.
  3. Have an idea of the maximum amount you are going to spend on the car and not just the monthly payment. This will make sure that you are not blinded by the auto finance deals alone and are aware if the car is within your budget and what you are going to end up paying eventually.
  4. If you have finalized the model of the car you would want to buy, go to the manufacturer’s website and check out the price, accessories on the offer, any rebates, promotional offers etc. and get a copy of the detailed list of these before you go to the dealership.
  5. Once you know the final amount that you will want to pay, shop around in banks, credit unions etc. for auto finance deals and get very detailed information and write them down so that you can get home and compare every one of them to each other.

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