Whether you are a woman or a man, it is rare for someone to purchase a car outright without any financing. So it is important to be just as aware of your financing options as you are about your car options. It’s also important to know that the car market is changing in many ways.
Women buy over half of all cars sold in the U.S. now and take part in 80 percent of family car purchase decisions. Women also do more research than men, and this includes researching financing options. At Earnhardt Auto, we care about cars for women and we have made sure we have woman sales consultants who are ready to provide the assistance you want and the respect you deserve.
Five Tips for Financing
One of the biggest mistakes car buyers can make is to ignore the financing cost that will come with their car purchase. There will be loan costs and interest rates to be paid. This should be a part of deciding how much you can afford to spend on your new car. Here are five tips to consider when financing your car purchase.
- Put Money Down
Putting money down on your car purchase helps in several ways. One plus is your payments will be less each month when you include a down payment for your vehicle purchase. Saving money before buying will give you some peace of mind when making such a big financial decision. Putting money down also helps you avoid owing more money than the car is worth.
- Know your Credit Score
It is important to know your credit score before working to secure a loan for your car purchase. If you have a great credit score, you may qualify for some very good interest rates on your car loan.
- Secure loans with Credit Issues
If you become aware that your credit score is low or has issues, don’t be discouraged. You most likely can still get a car loan. Also, some first time car buyers may have no real credit history. In either case, dealerships like ours have great relationships with banks. Our No Bull Financing is dedicated to helping car shoppers get the best loan or lease deal in spite of credit issues.
- Stick to what you Can Afford
Before shopping for a car, it is important to know what you can afford. You want to set a budget knowing what you can pay monthly for a loan as well as for other expenses like gas and insurance. Even though it is tempting, don’t spend more than you can afford.
- Keep the loan terms as short as you can
When keeping the loan terms short, you pay payments for less time, but will have a higher car payment each month. By doing this, you will pay less interest overall on your loan. Not all car buyers can afford to do this, but if you can, it will save you money in the long run.
A family company, Earnhardt dealerships care about our customers and want to help you get affordable financing for a car that you are excited about owning. We are proud of our Woman to Woman vehicle buying experience available at Earnhardt Auto Centers. We look forward to helping you secure fair financing that will let you drive away with the car of your dreams!