The Most Common Mistakes People Make When Securing a Car Loan

Posted: Monday, May 2nd, 2016

Getting a car loan can be stressful, especially when you don’t have advocates to back you up. If you’re in the market for a new or used car and want to make sure you get the best deal for your dollar on a new loan, follow these financing tips. Then see the counselors at Green Light Auto Credit to apply for the financing you need.

 

The 5 Most Common Car Loan Financing Mistakes

Any number of things that can go wrong when making a major purchase. You can avoid many of them by taking a few steps to prepare first, such as:

  • Know What You Want: Decide what type of car you need, how much you’re willing to pay, and what features your willing to do with or without before you hit the lot. This way you’ll know whether or not you’re being rushed to make decisions you’re not ready to make by the salesperson.
  • Take a Test-Drive: Some buyers are so impressed by a good sales pitch they buy a car without a test-drive. This can lead to some serious buyer’s remorse when you take your lemon home.
  • Using Dealer Financing: The low rates advertised are often only for a select few with exceptional credit and for a limited time. Getting pre-approved with Green Light Auto Credit will give you negotiating power since you already have cash in hand. Plus, you’ll already have your payment set.
  • Be Ready to Walk: A car is a big investment, and you deserve to get exactly what you want. If a dealer can’t give you the deal you need, be ready to walk away.
  • Factor Expenses: Remember to consider the cost of monthly expenses when you finance, so that your final monthly payment is one that you can handle.

Let Green Light Auto Credit Guide You Through Financing Your Next Car

When you’re ready to finance your next new or used car, let the counselors at Green Light Auto Credit guide you. They can help you establish a budget, search dealer inventory, and apply for financing. We’ll work with you to help make sure you don’t fall for any of the common mistakes that take other buyers by surprise.

Learn More Car Loan Financing Tips at Green Light Auto Credit

See us today for more car loan financing tips and to secure a low rate with fast approval for your next auto loan. Contact Green Light Auto Credit at (800) 200-5551. We’re easy to locate at a branch near you.