| iv id="body"> | | | | A Good question; and there are a couple of aspects |
| I had what I thought was an interesting question sent in | | | | to the answer. First, once you know what you qualify |
| to me the other day and that is the topic of this article. | | | | for (a bird in hand), you can then give the dealer's |
| The question asked was essentially; out of all of the | | | | finance manager the opportunity to do even better for |
| car buying tips, the car deal negotiating tips, and out of | | | | you. Secondly, even if you have no intention of using |
| all the do's and don't do's when you are car shopping | | | | the dealer financing option, you'll still have to have a |
| and ultimately buying, what is the single most important | | | | seat in the finance office just to sign all the paperwork. |
| area to have under control as the buyer. | | | | Which means the finance person will do their best to |
| I had to preface my answer by saying that in order to | | | | "sell" you their financing package. So being prepared is |
| get your best deal when buying a car, there are many | | | | the best answer. |
| pieces to the car buying puzzle. They are all individually | | | | If you have your financing in hand and know all your |
| important because when you put all the buying | | | | numbers ahead of time, you'll be able to fend off the |
| processes together they make up your deal. And all of | | | | monthly payment approach by the car dealer's sales |
| these car buying puzzle pieces are what dealerships | | | | person. Buying a car based on monthly payments is |
| are all about. They each represent an opportunity to | | | | good for the dealer; bad for you. |
| sell you something and therefore make a profit on that | | | | Also, your financing homework becomes even more |
| sale. | | | | important if your credit is less than grade 'A'. Be mindful |
| Having said that, this is a great question and you would | | | | that just the difference in just a couple of percentage |
| probably get many different answers. But, since you | | | | points on your interest rate can represent over a |
| asked and I have pondered... I'll give you my thoughts. | | | | thousand dollars to you during the life of your loan. And |
| I would have to say financing. You must take the time | | | | if your credit score leaves a little to be desired by |
| to do such things as: | | | | potential lenders, you will probably see a wider range |
| Get and understand your credit report. | | | | of qualifying quotes that you get back. So it is even |
| Shop around for your financing options and ultimately | | | | more important that you get your car financing house |
| get yourself pre-approved so you will know the | | | | in order before you head out to the dealership. |
| amount, the interest rate you qualify for, and the length | | | | Certainly, financing is but one piece of the car buying |
| of your loan. | | | | puzzle. But, it's a big piece. And you can rest assured |
| If you don't get your financing questions answered and | | | | it's a big piece (for potential profit) for the dealer. Many |
| in order, you can literally cost yourself thousands of | | | | people don't realize that this is yet another area at the |
| dollars. So, while all of the other aspects of buying a | | | | dealership that you can and should try to negotiate on |
| car are indeed important, such as the price of the new | | | | the road to getting your best car deal. |
| car, what you get for your trade, and all of the | | | | If you have done your research and homework to |
| research that goes into these areas; you can literally | | | | give yourself the best possible chance on the front |
| give it all back and much more in the dealer's finance | | | | end of the car buying process (new car & |
| department. | | | | trade-in), don't give it all back on the back end of the |
| "If I get all my financing lined up ahead of time, why | | | | deal (financing & insurance - F&I) by not |
| would I even bother with the dealer's finance | | | | knowing what your financing numbers and options are. |
| department?" | | | | |