5 Tips On How To Secure The Best Auto Loan For Used Cars

Nov. 14, 2011 - PRLog -- Knowledge, My Friend, Is Power!!

1. Know That Score: Even more so than for new car loans, your credit score plays a starring role the interest rate you can get. Before approaching any lenders, be sure to check your credit score will all of the Big Three bureaus.

2. Stay Within Your Means: Before contacting any lenders, make sure you have chosen to buy a car that you can afford. The way to check: find an online loan calculator and type in different loan terms (e.g., 48 months, 60 months, etc.) and loan amounts to see what your payments would be.

3. Save Save Save!!!: The more you can scrape together for a down payment on your loan, the lower your payments will be and the easier it will be to get approved for a used car auto loan.

4. See If Your Preferred Dealer Is Linked To Specialists: Look for the dealer that will do everything in their power to get you the best rate. Don't deal with dealers who will "Shotgun" your credit report and ultimately lower your score. There are local dealers who can hit that prime rate without sending your report to every entity in the state.

5. Negotiate The Best Rate: Good can always get better!!

Follow these 5 tips to increase your chances for approval and to get a better rate on your auto loan.

Visit http://www.asheboroford.com
or http://www.yourfordblog.com for more details.

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Asheboro Ford Lincoln Mercury is committed to giving you, the customer, the best combination of service, satisfaction, quality, and affordability in the entire Southeastern US!! We are your one-stop shop for all your new and used car buying needs!!