If you’re preparing to use credit to get a new car, be sure to know what your credit record looks like. Is it in good standing, fair standing or bad? Knowing this will help you negotiate the terms that are best for you. Here are two tips everyone should know before they get a car loan:
#1 – Shop around: One lender may be more lenient to your score compared to another. Be sure to check with more than one lender for the best possible rate.
#2 – Check with your bank or credit union first: Before allowing a car dealership to put your information through their system, check with your financial institution to see if they are willing to extend you a loan.