10 Tips To Get The Best Car Loan Deal

1. Get The Car Finance Separately From Your Car

Before starting negotiations about your dream car, you should start with the loan application process with well known lenders or car loan professionals like Carfinance2U.

2. Shopping Around Affects Your Credit Score

Whenever you apply for a car loan – and it doesn’t matter, whether you want to use it or not- it will have an impact on your credit score. Therefore, getting a great car loan deal in the future will become more difficult for you. The best thing would be to restrict your car loan hunt to a maximum of one or two weeks or use a brokerage like CF2U who will only do one credit check and send it to multiple lenders to get you the best deal possible.

3. Know Your Credit History

If you want to learn more about your own credit history, you can get free copies of your Veda, Illion and Centrix credit reports. In case you want to get familiar with your exact credit scores you can buy the full reports on their websites for a small fee. The score you buy is not necessarily the one your lender uses, but it should be quite similar.

4. Ask For Your Weekly Repayment Amount

What really matters when considering a car loan is the repayment amount. The weekly repayments are important when you do some private calculating on how much you want to spend for your new car purchase.

5. Use A Broker To Get Your Best Rate

The best way to cope with the lenders is to let a broker do the work for you. Brokers like CarFinance2U are here to get the best offer for you out of their lender panel. Even if you need a car loan with bad credit, they can help you out.

6. Get The Right Tools

Have you ever thought about what is better for you? One way to get a good answer is to use a broker like CF2U. Professional sales consultants have a lot of experience with lenders and can get better deals for you, than you could get on your own.

7. Read The Fine Print

Before signing the paperwork, you should read everything carefully. If a dealer or car finance lender pushes you to sign the contract before you have read it, you should walk out. Your contract is an official document which binds you for the coming years. Therefore, you should know exactly what it says. Simply ask your broker like a consultant at CF2U to help understand your contract.

8.Do The Maths

In case your repayments are higher or lower than your calculations, check for hidden terms in your contract or ask your broker.

9. Avoid Conditional Financing

When shopping for a car, you should sort out everything financial before taking the car from the dealer. In case the financing is “conditional” the terms can change later on, and you have to deal with worse terms then calculated. Car loan professionals like CarFinance2U will take care of this for you and ensure that everything is signed prior to pick up.

10. Check Out Your Broker

The best way to do this is by reading reviews of former customers i.e. on Facebook or Google. It can pay off to look out for bad reviews. These ones can provide an early warning.