Summer’s here! Who’s ready for a road trip? A vacation? A day trip? How’s your ride these days?
Summer driving can be just as hard on your car as winter driving. Between the hot temperatures, hot pavement, and the additional driving we tend to do in the summer months, you might find that you need to trade in your old ride on something a little more reliable. But, before you even think about driving down to that car lot, you might want to consider how you’ll finance that new set of wheels. In case you haven’t already figured it out, the car dealership isn’t always the best place to finance a new car or truck. In fact, unless you have excellent credit, it could be the worst place you could go when you need a car loan!
Did you know that dealerships often get referral fees for steering customers to certain loan companies? Those fees nearly always get passed on to the customer in one way or another. And sometimes the interest rates that they offer you aren’t always the best interest rate available! Not to mention the payments those higher interest rates can mean! What should you do?
Before you go to the car lot, before you pick out that new (or even just new to you) vehicle, know your options! Know what you can borrow, know what you can afford, and know what you’ll pay!
Just like you shop around for the best credit card offers, you can also shop around for the best car loans: