photo: TheTruthAbout … In the market for a car? In a perfect world, you would go into the dealership agreement with a briefcase full of cash (OK, a check would do, too) and buy your new set of wheels right then and there. In the real world, of course, find most people save as much money off the impossible – and head to the bank or dealer agreement financing arm to get a lån.Den good news is there are ways to lower your borrowing costs. Here are five: the first Make sure your credit is in good ståendeFør ever setting foot in a dealership agreement, you will want to make sure your credit is in good health. Your auto loan interest rate will be highly dependent on your credit score. First, order a free credit report from annualcreditreport.com, a federally-mandated website that offers you three free credit reports året.Tjek your credit report for any errors or red flags. Tidy things up, pay down your credit card balances as much as you can, and dispute anything that looks wrong or suspicious. After sprucing your credit, pay the small fee to get your credit score. During your credit score in hand will allow you to get more accurate quotes and potentially negotiate your interest rates later in the process. If your credit score is low (below 640) you can have some work to do before you consider getting a new vehicle. (Click here for more information on how your credit score is calculated – and how you can improve it.) 2 Shop around at local banks and kreditforeningerDu may not have to look further than your local bank or credit union for the best auto loan rate. Credit unions in particular tend to have very low rates as they are non-profit financial cooperatives, re-distribute income through member benefits (such as lower interest on loans). You may find the auto loan rate clearly listed on the bank or Credit Union's website. If not, require a quote should not take more than a few minutter.3. Compare prices at national lenders Armed with your local space, do some quick comparisons at the national level. Bank Rate and Yahoo offer auto loan comparison calculators, which will allow you to choose your loan length and type (new or used car) 0.4. Negotiate with the lender that has the lowest rate Even if you have compared to a large number of lenders at this time and found the lowest rate that the offer may not be the best you can get. If your credit score is in the high 700s or even 800 or more, you may be able to negotiate an even lower rate. Even if you do not, it does not hurt to try. If you do not have a checking or savings account with the lender's offer to create one if they reduce the rate of dig.5. Negotiate with DealerNu where you have the best quote in hand, you can start your car shopping. Be on the lookout for special promotions. Occasionally, you will see automakers ride 0% or other low interest financing offers. Just make sure that the low rate offer is not matched by loading up on extra fees up front.Før talked finance with the dealer, you should always come to agreement on pricing terms of the purchase. Do not allow them to dangle a low interest rate offers as justification for failure to negotiate prisen.Ofte dealers receive commissions on auto loans so they can be flexible in the rate they can offer you. If it is not measurably better than your lowest price offer, go with the lender stedet.Nyd your new car! GE Miller blogs about personal finance for young professionals 20somethingfinance.com.
Tara Kuczykowski is a married mother of three boys and two girls aged 2-8 years living in Columbus, OH.Som a previous career-oriented professional turned stay-at-home mom, was to unite champagne tastes with a tap water budget a challenge, especially with a large family. By learning to cut costs on her family's basic needs, she has found the key to having more disposable income for things in life that make it worth living.