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How To Avoid Turning Your Car Loan into a Nightmare

Used car loan nightmare

Is the idea of having a car loan almost giving you nightmares? Well, they don’t have to if you can avoid some of these mistakes. Not all car buyers avoid the mistakes of what it means to have a car loan. 

Some people don’t even know that depending on the new or used car no money down cars aren’t always worth it.

But we can break down what can keep you from having nightmares before purchasing a used car or paying too much for a new car.

Comparing new and used cars is always an adventure and we can lead you to the right path to purchasing the car that’s in your budget.

How not to make a car loan your nightmare

Here are the tips as we break down the car loan so it doesn’t become the nightmare you might think it is.

  1. Credit score know what it is and see if you can improve it over the next 90 days. Auto lenders are flexible with car loans up to 53% of debt to income ratio. That’s better than the 48% for mortgages.
  2. You always want to compare up to three to five vehicle and know the down payment options like $500 down for the car, $99 down for the used car, or no money down for the car in Nashville TN. It all depends on the car dealers with their down payment options.
  3. Look at used cars and new cars that fit into your budget so you can payment the monthly payments on time and not be hit with the interest all the time.
  4. Read the fine print know what your buying and watch for the dealership fees as this is a way for the car dealership to make more money.
  5. Talk about the price and not just the monthly price but the total price of the car. The short time you have to finance a new or used car in Nashville the more you save over the term of the auto loan.
  6. Test drive the crap out of it. Make sure that its what you want for a affordable and reliable car because you might have it for about five or six months.

Choosing the right new and used car dealerships for an affordable car loan

All car dealers are going to be able to offer different prices and not all car dealerships in Nashville are the same. But if your looking for financing because you need a car we can help lead you to the car dealership that makes the most sense for you.

There is never an obligation to buy a new or used car once you have been approved but its good to have a number of choices when your in the market for a car loan.

The test drive is the most important aspect of car buying and that’s why we encourage more than a half hour on the road with each car because we want you to make the best educate decision both on the used  car and financially.