Smart Car

Most people buying their first car, new or used, will make mistakes that can end up costing them a bunch of money, but it’s a crying shame that even people buying their fourth or fifth car will continue to make these same mistakes. The simple fact is that they continue to do most of the things the same way, when in fact, they should be making some changes that will arm them with the information and tools they need in order to get the best deal possible.

The first, and the biggest, mistake that most people make is going to the dealership without financing. Yeah, the dealership may be advertising 0% interest, but what the small print says or the “talk so fast you can’t understand it disclaimer” says is that you have to have excellent credit and that you may have to have a certain amount in the form of a down payment or trade-in to get that fantastic 0% loan. So, go in prepared. Check with your bank or compare rates on websites that offer financing. In fact, join a credit union and find out what kind of rate you can get through them. Obtain preapproval BEFORE you go to the dealership. Some places will even issue you a “no obligation” check to pay for the car. Then, if the dealership cannot offer you comparable financing or beat the deal you can get somewhere else, you will already have your financing in place and can rest assured that you are getting the best deal possible. Read the rest of this entry »