May 27, 2021 / Auto & RV
Buying a car is a journey, not a destination. Sure, the destination is satisfying, but the right journey can make the end goal that much sweeter. As you plan out your own car buying journey, do some research to find the right loan, the right interest rate, and the right lender. Before you know it, you’ll have your dream car without the borrowers’ remorse to drag down your ownership experience.
As with any journey, you have to pace yourself when buying a new or used car. If you rush the process and accept the first offer from the first dealer you meet, you’ll probably end up paying more for your new purchase. Similarly, going with the first lender your dealer recommends may mean you end up paying more interest in the long run.
Plan out your new car purchase by researching how much others are paying. Research dealer and manufacturer incentives, read online dealership reviews, and don’t be afraid to have a healthy back and forth about sticker price and dealer fees. As long as you’re researching cars, do some homework on auto loans too. Doing so can help you compare rates and find a loan that will save you money.
Pacing yourself doesn’t necessarily mean you have to prolong the car buying journey. In fact, you can find an affordable loan in record time, and if you get pre-approved before going to the dealership, you can speed up the entire car buying process. Look for a lender that you can create a long-term relationship with—a lender that’s willing to offer a personalized experience and give you a great deal, even if you’ve had credit troubles in the past. These are all things your dealer’s one-and-done lender just can’t offer.
Buying a car is a journey. As with any journey, be careful about where you go and how fast you get there. Plan out the path that’s right for you, take advice from trusted sources, and start your journey of thousands of odometer miles with the first step of finding the lender and the auto loan that’s right for you.