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The better options you have with new and used cars the better. We know that buying a car is a big step for anyone there are multiple steps you can take to find the right car for you. Research the vehicle and its features. Get preapproved for a loan. Plan for a trade in (its okay if you don’t have one).Take the car for a test drive new or used. Check the sales price and warranties. You want to find out the car dealers auto financing before signing any papers.

Before buying or leasing a car in general 

Before you go looking for a car and want to purchase it. It would be smart to make sure you have enough income to cover all your monthly living. Before you say it we want to make sure you have a budget planned out for this. 

Ask yourself these questions: 

Should you take on a new monthly payment? To be honest its all about reducing your monthly payment costs so with a car loan it helps to have a down payment to shrink that monthly payment you get in the mail each month. 

Do you have a trade? Do you have a car that you can trade in that will take care of the down payment for a the newer vehicle. It all depends if you owe on the car it might not be a good move for you because now you would have negative equity as they call it. Last thing to help is work on paying down your debt auto lenders will work with you if you have knocked your debt down. 

Get your credit report You want to get a copy of your credit report right now. Don’t wait on this before buying or leasing you want to see what your credit says.

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There are two options when you need financing for a car

Direct lending

Car dealer financing

With direct lending you want to do some comparison shopping and get your credit terms as soon as possible.

With car dealer financing you might have some better luck because most car dealers have multiple financing options and special programs. With the special programs you have to see what the car dealership requires. Might be shorter car loan terms or longer. Might be on just a few models of vehicles. Might need a certain credit score.

But with auto financing terms some car dealers have no money down options available to as low as $99 down for cars. It all depends.

Most people use car dealer financing for convenience because your at the car dealer anyways why not see what you can qualify for right? 

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