Hey guys just wondering is there a Finance equivalent like Leasehackr?
Go in the dealership with a TrueCar quote and tell them the only way you’ll buy the car is if they beat the price assuming the price is close/below invoice already and see if they offer 0% financing or call your bank if they can offer better APRs.
Financing is pretty straightforward. Find the lowest price you can get for the vehicle you want and then find the lowest interest rate available (sometimes through the manufacturer, sometimes through a bank or credit union). Shorter loan terms are better due to depreciating vehicle value over time.
Only trick with financing is dealers will often advertise a great purchase incentive (ex 20% off MSRP) OR a 0% APR loan. They won’t let you take both offers at the same time.
Thank you guys so much. I really appreciate the quick responses!
Make sure you know your credit score and history so you know which rate youll qualify for.
Thanks! I appreciate the tip!
Always be ready to walk. My sitch was she had thru the roof credit score as my cosigner. Mine was so so at 640. Salesman was cool, gave him all the credit info and scheduled a return trip. He assured me it should fly at top tier rate. I told him to pass on to the Finance Dept, if they did not like it there was surely another dealership that would with her 800+ score.
On return, finance guys kept me waiting and i headed for the door and out to my car. Out comes salesperson telling me the Finance just approved it at best credit rating.
What, they were going to try to jam me into a lower credit bracket? Probably. Don’t let them futz with you!