Car buying is a pleasurable experience, and car financing is a painful process. We all love cars and hate car loans. But, now there is no need to spend several days in search of a lender. Your local dealer can help you in getting an auto loan.
Dealerships are very common. They provide a second chance to bad credit car buyers. Sadly, most people are scared of dealers because they have heard terrible stories about dealership. But, don't think that every dealer will cheat you. If you remain calm and cautious, you can get a low rate dealership financing program. To get approval, you should never say these things to the dealer.
Statement 1 - "I don't know my credit score."
You cannot go to a dealership lot without knowing your credit score. Dealers can take advantage of your ignorance and charge high interest rates. So, it is advisable to check your credit score before starting the car buying process.
Also, you must order a copy of credit report and read it thoroughly. It will help you in answering questions asked by the dealer.
Statement 2 - "I want any car. You are my only hope."
When you visit a dealership lot, your emotions should take a back-seat. If the dealer senses your desperation, he will have the upper hand in the negotiation process. Also, never let the dealer select a car for you. He may try to sell you a lemon or an expensive vehicle.
Statement 3 - "I can afford XYZ amount of monthly payment only."
It is not wise to reveal a specific amount of monthly payment to the dealer. If you inform the dealer that you can afford XYZ amount, he will set the same amount as your monthly payment. And, you will not have any chance of lowering it.
You should start discussing finance after selecting the car. This way the dealer will be sure of a sale and will offer you a better deal. Also, it is important to concentrate on the bigger picture. You should not talk about monthly payments only. The dealer may offer you lower monthly payments and high interest rates. So, calculate the APR and then decide whether it is affordable or not.
So, these are three things that you should not discuss with the dealer. If you stay away from saying these things, your loan approval chances will be higher.
Car Destination will help you in getting affordable bad credit dealership financing program. It is ideal for people with damaged credit history as it helps in improving your credit score. Apply now and get ready to be delighted.
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