Never Go To The Dealership Without Financing In Place

You’re about to make one of the most important decisions of your life—buying a car. You have a lot to consider: color, features, and payment plan. But one thing you don’t want to overlook is financing.

It’s always a good idea to get financing in place before you go to the dealership.

This is especially true if you’re on the fence about the whole process of purchasing a car.

Before you head into a dealer and start haggling prices, it’s best to make sure you have financing already in place. You’ll be able to negotiate better when you know what your options are for payment.

Before you even consider purchasing a car, you need to learn the different auto loan tiers. Tier 1 being the Prime tier which means you have a great credit score and Tier 6 being the Sub Prime tier which means your credit score is in the 500-600 range.

The point of the different tiers is to determine the interest rates you will be paying.

If your credit is already in the 690-700 range, you can now begin your search for the vehicle you want. Search the entire country and look for the best price offer for the vehicle that you want to purchase. After you’ve done this, go to your local bank and apply for an auto loan. From there, you will know whether you have been approved for a certain amount, and going to the dealership will be a breeze.

Having this kind of leverage will definitely get you a better deal with your local dealership.

Learn more about it by watching this video. Click here.