There are many mistakes people can make when buying a new car, but one of the most expensive mistakes is forgetting to include the cost of financing into the overall cost of the car. The rates and terms of your financing could add up quickly, so it’s important to pay attention to those details.
To help you avoid these pitfalls, we’ve put together this article of tips for financing a new car, so you can be prepared to get the best deal possible on your purchase.
Know Your Credit Score
Your credit score impacts your ability to get a loan or credit, but it’s much easier to get a car loan with bad credit than a mortgage or credit card. This is because it’s much easier for the lender to repossess the car and recoup their loss if you default.
If you have bad credit, you’re not necessarily forced to accept any rate that’s offered to you. You can check if there’s a lower rate available, and if you’ve done your research, you should have a good idea of what rates you can qualify for ahead of time. Shop around and determine what the best rate is for your credit, that way you can ensure that you can truly afford your purchase.
Visit Montgomeryville Nissan
Now that you’re equipped with these tips for financing a new car, you’re ready to head to a dealership to shop! At Montgomeryville Nissan, we stock a huge inventory of new Nissan models for you to choose from, all at excellent prices. If you’re in Philadelphia, Lansdale, or Doylestown, stop by Montgomeryville Nissan to browse our inventory and schedule your test drive today!