Car Loans & Credit Reports

You’ve done homework on the automobiles and you’re comfortable with the choices you’ve narrowed it down to.

Have you gotten your credit report yet? How do you know what type of car loan you will / can qualify for? And if so, what interest rate have you been able to lock into?

Before you even begin the actual legwork of car shopping get your credit report done. Period. No exceptions. Financing is a huge part of getting your best car deal. Don’t get started without this.

With your credit report taken care of, you should look at some of the very good online car loan resources as you go about getting the lowest APR on your car loan that you can. Today with the availability of online business, your Auto Finance application process is virtually legwork free and without application fees.

If your credit isn’t so good or you have new or no credit at all, Driverloans.com has a very simple form takes just 60 seconds, and is 100% free, with NO obligation.

No matter what your situation, these are very good resources to get you online approval under your belt. Just get this done before you start shopping at any car dealership.

This is a crucial piece of the puzzle because once you have your financing set; then it becomes up to the dealer to beat what you have.

IMPORTANT NOTE:

With your financing properly secured, you won’t have to worry about tripping over the ol’ "Subject To Financing...blah, blah blah." Not to make light of this little clause that accompanies those buyer’s orders you sign at the dealership once you finalized the agreed upon numbers.

Many people have been disappointed to heartbroken by this. You see the buyer’s order is not a contract and "subject to financing" means just that. The dealer my spot deliver your car to you (put you in it and let you drive away) but, there is no contract until you sign all of the financial papers.

So, you don't own the car yet!

It happens more than you think that a dealer either honestly thought they would get you approved then couldn’t, or nefariously wanted to get a higher interest rate.

Never, never, never, buy the car first then go into the dealer’s finance department looking for a loan.

Never.

Remember, we’ve talked about this throughout this website and it’s certainly worth mentioning again.

Car loans through the dealership (dealership financing) is just another product that the dealer is trying to sell you and make profit on.

With the availability of today’s internet, and good online companies such as Citifinancial Auto, Driverloans.com, 1-800 AUTO YES, and RoadLoans there is absolutely no reason for you not to maintain control over your financing options.