4 Costly Mistakes to Avoid When Getting a Car Loan From a Dealer

When getting car loans, the most common financing option is to work with your dealer. We can offer you great terms and put you in a safe and reliable vehicle. However, be sure you do your homework to work out the best deal for you. Avoid these costly mistakes and you’ll be alright.


  1. Not Knowing Your Credit Score


A seedy dealer will try to tell you your credit is worse than it is, but even with a reputable dealer like us, knowing your credit score will put you on equal footing so you can negotiate a price on your own terms. You should know not only your score but any blemishes you might have. If you explain good reasons for a setback in your score, we may be willing to work with you despite the number.


  1. Not Negotiating Loan Terms in Pieces


You don’t want to negotiate your loan in terms of monthly payments alone. You’ll likely end up with a longer loan period and have to pay a fortune in interest. Instead, talk to us about each section of the process separately – trade-in value, price and financing. You’ll have a good chance at getting a good car at a great price.


  1. Not Choosing Correctly Between Low-Interest Loan and Cash Rebate


If you have great credit, you may be offered a low-interest rate for car loans, but should you take that over a cash rebate? Do your research and figure out which will save you the most money as offers vary.


  1. Not Purchasing Add-Ons Separately


Paying for add-ons up front instead of adding them into your loan can save you hundreds of dollars over the term of your financing. If you can’t resist things like fabric protection and extra sealant on your paint job, be sure you have the extra cash to put towards it on the down payment.


Car loans don’t have to cost you a lot of money on top of the price of the car. By avoiding these costly mistakes, you can keep your financing at a price you can afford so you can pick the best vehicle for your budget.

The Advantages of Leasing a Car

If you are new to driving, you may be tired of riding around in other people’s vehicles. There is nothing quite like having your own car instead of asking to borrow one that belongs to another person, such as one of your parents, a sibling or even a friend. However, you may feel like you do not have enough money saved up to get the kind of car you want.  Instead of paying in full, car leasing is an option. It is convenient for those who want to make payments on a monthly basis rather than pay everything at once.


You Can Make Affordable Monthly Payments


You may be able to afford a set amount of money each month for the vehicle. It is best to choose a car based on what you can afford because the monthly rates vary depending on the cost of the vehicle. Knowing that you can drive around freely on your own in a vehicle that you will eventually own is something that feels great. It is even better when you are not stuck paying too much money each month. At our dealership, we are always upfront about the monthly fees so that you know what to expect when you do start to make those payments.


You May Not Have to Make a Down Payment


While a down payment may be required for some options, it is not necessarily mandatory. You may have an opportunity to drive off the dealership lot without making a large down payment. If you do not have a whole lot of cash to put down because you have other bills and expenses, being able to avoid that large down payment because of car leasing is convenient.


There are plenty of great reasons to decide to lease a vehicle. It is a way to save money upfront while still getting a beautiful and reliable car to drive. If you are interested in leasing, come down to our dealership and let us help you get started.

Auto Loans to Match Your Financial Needs

The search for a new car carries with it plenty of financial implications. Any dealership you go to has plenty of offers for you, but that doesn’t mean you shouldn’t do your own research in order to find what’s best for you. Auto loans come in all shapes and sizes, making your research and your understanding of what you can afford all the more important.


Find a Loan with Low Interest Rates


The annual percentage rate (APR) is of the utmost importance when it comes to what your will truly pay in the end. The APR for any loan literally shifts on a daily basis and is based on the length of your loan agreement. A shorter-term loan results in lower interest rates but a larger monthly payment, whereas you have the options to stretch out that same loan and pay less monthly, but your total cost in the end will be higher. Find out how you can lock into the best interest rate possible for your situation.


Look at All the Options Available to You


The same way you shop around for the best car at the best price, you should shop around for the best loan. There are plenty of lending options – from big banks and the dealership itself, to smaller banks and credit unions – so it’s not a situation where you have to settle. Ask questions, and head to your bank or dealership to talk to talk to someone in person. It seems simple, but it’s easy to become overwhelmed with all the options available, making your research all the more necessary.


Understand Where You Stand Financially


Monthly payments, total cost once the loan is paid in full, what type of credit you have, and much more will have an impact on what type of loan you works best for you. It all starts and ends with what fits into your budget, so the decision is and should be based on your full understanding of your finances and what works best for you.



Before You Get a Car Loan, Read This

If you are like most car buyers, you will finance your new car purchase. You are probably also excited. Don’t let your excitement cloud your judgement. Whether you are applying for a loan using your excellent credit or searching for bad credit car loans, you should keep some things in mind.


Get the Best Interest Rate


Probably the most important thing you can do to save money on your financed car is to negotiate the lowest interest rate possible. Whether you pursue financing from banks, credit unions, financing companies, or the dealership, a lower interest rate could save you thousands over the life of your auto loan. As such, if you are going to negotiate any part of your new car purchase, you probably want it to be your interest rate.


Pick a Good Loan Repayment Date


If you can, think about what day of the month is best for you to make your loan payment. Try to pick one when you will have the funds immediately available. If you typically get paid on the 1st, you might not want your loan payment to be due on the 30th. Because of late fees and charges, you don’t want to be late with your payment.


Ask About Loan Fees


While you might know the price of your car and the interest rate, you might not realize all the fees associated with your loan. Ask your lender for an explanation of any additional costs you will pay. In particular, check if there is a penalty for early loan repayment. Since you will likely want to make an extra payment or two a year to reduce the overall amount you will pay on your loan, you want to be sure you aren’t diminishing any benefit with early payment fees.


If you need a regular loan or a bad credit car loan, you should consider these three tips to get the best loan possible.

How Using Bad Credit Car Loans Affects Your Credit

Having poor credit can make life difficult. From getting a personal loan to buying a home are car, financial arrangements are suddenly harder to make, and getting the cash you need may seem impossible. Fortunately, options like bad credit car loans are available to ensure you have the wheels you need to get to and from your most important destinations, regardless of your credit. However, before you dive right into an arrangement such as this one, you need to know how taking out a car loan of this variety will impact your credit in the coming years.


Initial Poor Rates


Perhaps the first thing you should consider is how your current credit affects the terms of bad credit car loans. Naturally, poor credit means you can expect less lenient repayment terms and often higher interest rates than traditional auto loan types. This is because the dealership offering the financing has to look after their own financial well-being during the sale process, and your credit proves you’re a non-repayment risk.


Boost Scores


Even if your rates aren’t the best when you start out, taking care of your payments on time can help you build your credit up to an acceptable level and beyond. While you may start out with poor credit, this provides you as a driver with an excellent opportunity to prove that you’re as responsible with your finances as you are behind the wheel, which is a must if you want to obtain better loans in the future which are better tailored to your needs as a borrower.


These are just a few of the things you’ll need to know about how bad credit car loans interact with your credit both in the present and the future. Speaking to a representative at your dealership can help you learn even more about the impact of payments on your credit score, and get you on the way to getting the loan you need to get the wheels necessary to get moving again.

Building Your Credit

Sometimes people make bad investments leading to damaged credit. Other times, it’s credit card debt that got out of control. Whatever the reason, your score doesn’t need to keep you from getting the tools you need to succeed in life. Bad credit car loans are available at the dealership. However, you may ask yourself why you want to get into another loan situation. The answer is pretty simple: the benefits outweigh the risks if you approach it with some knowledge and preparation.


Get Your Score Back


The best way to rebuild credit is to pay bills on time and make regular payments on a loan. You might not be aware of this, but car payments are a great way of building credit. Taking on more debt to heal your damaged credit might seem counter-intuitive, but if you’re in a good position to pay off the loan on time it’s one of the easiest paths to a higher score.


Get the Right Loan


A lot of this has to do with making the right purchase and getting the right loan. Shop for the most expensive car you can easily afford. This will send a message to the financing organizations that you’re getting property that will still have some value for the life of the loan. With the car itself as some insurance against any default, loan officers are much more likely to approve your request.


Put Money Down


Put as much money down as you can afford. Sure, it might seem better to have it in your bank account, but car loans for low credit scores tend to have high interest rates. Paying as much as possible up front is the only way to minimize the amount of interest you have to pay without lowering the rates.


Get Advice


Everyone’s situation is different, so visit the dealership for a consultation. Make sure to bring your most recent financial documents along for the professionals to review.

How to Inspect a Used Car Before Buying

Everyone wants you to be happy with your used car purchase. We know used cars come with uncertainty, so we want you to do everything possible to ensure you feel confident about your purchase. One thing you should do is inspect the car before you make the final decision. Here are some suggestions for how you should do that.


Research the Make and Model


With the internet, it is super easy to research a car you are interested in. Search the make and model and learn more about the car before you ever come to the lot. You can find a wealth of information about a vehicle this way. You’ll likely learn what people like and don’t like about it and common problems. You can even ask questions of owners to see if the car would meet your needs.


Look It Over


When you get to the lot, go ahead and look over the car. We expect this and even encourage it. We want you to know you are getting a good vehicle. If you don’t know much about cars, bring someone along who does.


Look for rust issues and check out the paint job. Make sure all the doors and windows work. Check out the interior for damage or issues. Look over the glass for chips or cracks. Under the hood, you want to take a look at hoses and belts. Check the fluids and look for leaks. Also, look at the battery for signs of corrosion.


Make Your Decision


Once you have completely checked out a car, the only thing left to do is to make a decision. If you have any lingering questions, feel free to ask them. Remember that the goal is to get you in a car that is right for you. Used cars can be a great buy, but just know that not every single one is a good buy or fit for your situation.

Buying a Used Car: Which One is Right for Me?

The excitement and anticipation that accompanies buying yourself a vehicle is something you should enjoy and remember. However, what will help make this experience ideal and effective is being able to choose a car that fits your needs perfectly and one that you feel comfortable, happy, and excited to drive. Before you come see our notable selection of used cars, here are some things to think about to help you determine which one is right for you.


Look at Your Lifestyle


While this may seem silly to think about, looking closely at your lifestyle and the everyday things you do, can play a large role in helping you make a decision about which car to buy. For example, what kind of parking space will you have at your place of residence? Do you plan to install children’s car seats? Are certain safety features critical to you? Do you regularly tow things? Do you often find yourself driving in inclement weather or for long distances? Each of these determinants are important in making your selection so you can appropriately choose something that adheres to your lifestyle.


Assess Your Budget


Sit down and look at your finances. You can easily do some rough estimation to determine how much you are able and willing to spend. Some simple calculations can help you envision how much monthly payments will be so you can work that amount into your budget. Having a clear price point in your head can help you narrow down your options so you don’t choose something that is way out of your price range.


Take a Test Drive


Test driving is important to help you identify whether or not certain vehicles will work for you. During this procedure, be sure to turn the radio off, take your time, and make mental notes of questions you may have or features you are interested in looking at more closely.


We are eager to show you our selection of used cars and excited to help you find a vehicle that is just right for you. Consider these suggestions to make your experience as effective as possible.

Buying a Used Car: Private Owner or Dealership?

When you start shopping for a used vehicle, the first thing you’ll notice is that there is no shortage of sellers. You can walk down virtually any street and see a car with a “for sale” sign on it, and it isn’t that hard to track down a dealership selling hundreds of used cars. If you’re trying to decide between buying from a certified dealer and a private party, here are two factors you need to consider.


Cost vs. Value


You’ll probably find the lowest prices going through a private seller, but that doesn’t always equate to the best value. The last thing you want to do is pay very little upfront for a vehicle that will require a lot of maintenance. You have to think of the car your getting as an asset, and bargain shopping isn’t always the best way to get something as important and valuable as an automobile.


It’s certainly possible to get a good car at a great price through a private owner, but you need to collect as much information as possible before making that purchase. When you go through a dealership, the cost might be a little bit higher, but you’ll likely be provided with more information about the car’s history and the repairs that have been done.


Future Assistance


One of the biggest benefits of going through a dealership is the incentives that can often be provided. A private seller isn’t going to throw in a free tune-up when you buy his or her vehicle, but a reputable dealership very well might. It’s important that you not be shortsighted when thinking about how much you’re spending on a car.


When it comes to buying used cars, there’s no simple answer as to how you should go about it. Just make sure you’re considering all the factors and gathering as much information as possible before you spend your money.

What Terms to Expect With a Bad Credit Car Loan

The terms and conditions of any loan are important. Don’t be so wrapped up in the idea of bad credit car loans that you forget to look at the terms. While they won’t be as favorable as a traditional loan, you still want to be sure that you understand them and that they are fair to you.


The first thing to look at is the interest rate. There is very little you can do about this number. With bad credit car loans, the interest rate is usually where your bad credit has the most influence. Expect a higher interest rate than normal. In fact, your interest rate could be two to three times higher than someone with good credit.


Next look at the length of the loan. Between the interest and the length of the loan, your payment is determined. If you think the payment is too much, you may be able to negotiate a longer length for the loan to help bring the payments down.


You’ll also want to look at the due date. Consider how the due date fits into your budget. This is something that may be negotiable. In some cases, you’ll actually be required to make a payment more than once a month. Sometimes payments have to be made every week or every other week. This may be negotiable, too. For example, if you are paid twice a month, then you can explain that and see if your payments can be set up to correspond with your pay dates. If you let the lender know that date isn’t good for you, they will probably be willing to change it. The lender wants you to pay so they are often very willing to work with you on details like this to make things easier for you.


Taking these terms into consideration when securing bad credit car loans is a good idea. Thinking about the terms show you are serious about the loan. In the end, it will be a big benefit to you, too.