There are many ways to haggle for the best fair profit offer on auto financing, more commonly known as car loans. However, most buyers usually make two of the biggest new car financing mistakes possible when searching for car loans. The first is trying to buy a new car without checking online car loan rates. The second is then proceeding to get a car loan without checking whether or not their credit history can support it. The most common automobile financing mistakes are by people who get their car loan at the dealer. Keeping a few pointers in mind can help to avoid making such mistakes.
Rule No. 1: Don’t trade in a new car on which money is still owed.
Without a doubt, refinancing is good way of saving money. What the dealer often proposes is that instead of paying for a new car loan and taking cash out of your savings, you sell out the remaining payments of your old car loan and let the new dealer pay for it. Obviously, this sounds too good to be true.
What happens then is that often those people, after trading in a car they still owed money and getting a new car loan, will find out two months later that the new car dealer has not yet paid off the...
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