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Submitted by: Robbie T. James
You can just picture it now: you can see yourself in your mind’s eye getting into that new car in the morning before work and starting it up with a “prrrrrrrrrrrr.” Or, you can see yourself picking up your date, spouse, or friends – ready for a night out on the town – your car looking shiny and new. You blast your favorite tunes, or maybe you listen to the spoken version of your favorite thriller novel. Yes, owning a new car definitely has its perks.
Now that you have that ideal image in your mind of your new car, it is time for us to figure out how you are going to get yourself into it. The major obstacle for most people between them and their ideal automobile is, of course, money. Most of us do not have a whole lot of cash lying around to plunk down as a down payment for a new car. That is where auto financing comes in.
Trouble is, just walking blindly into a new car financing situation can literally cost you thousands of dollars over the life of your loan. That is because there are dozens of possible ways to structure your new loan that affect both your monthly payments and how much you pay in interest over the life of your loan. And, when there is money on the table, you can be sure that the lender you work with is going to try to squeeze every penny out of you that they can. This is especially true at auto dealerships.
Not only that, but new car financing is never totally guaranteed: you might not get approved for that loan you need for your new car. Fortunately, by learning the ins and outs of car financing, you can greatly increase your chances of getting the very best new car financing deal.
The Car Financing Approval Process
Think of the car financing approval process as a sort of dance between you and your lender. You start by scoping out all of the possible dance partners, you dance one or two dances with a few of them to see how things go – and maybe at the end of the night you make plans to go out on a date with one of them.
At its core, car financing approval essentially involves the lender using all of the informational tools and “people” skills they have access to in order to determine whether you would be a good candidate for an auto loan. And, depending upon your credit score and other factors, the approval process determines the kind of interest rate you get offered.
What The Dealer’s Finance Guy Looks At
When you are sitting across the desk from the finance guy at your local dealership, ever wonder what he is thinking as he peers across at you just over the rims of his thick glasses? Here’s what it boils down to: “Is this person a good candidate for a loan?” Your job is to convince him that yes . . . yes you are.
New Car Guaranteed Financing: The Weapons in Your Arsenal
Here are the new car guaranteed financing “weapons” at your disposal that you should brandish whenever possible during the financing negotiations:
1. Know your credit score before walking in the dealer’s door: it’s always easier to negotiate from a position of knowledge
2. Be ready to explain any glitches appearing on your credit record
3. Dress respectably – your appearance matters
4. Be polite – a little sugar goes a long way
5. Be prepared to talk about your current (or, if unemployed: recent) employment situation
In the end, you want to convince this person through fact-based evidence and old-fashioned good manners and respectable appearance that you are someone who is worthy of a new car loan.
Once you are successful in getting your loan, you will be able to turn those dreams in your head about your new car into reality.
About the Author: Get access to more tips on new car guaranteed financing at:
Best-Car-Financing-Deals.com
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Source:
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