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Get a grip on the financing
process as we help you shop for a loan and spell out many key questions
you should ask before signing on the dotted line.
Financing your car needs as much research and homework
as choosing the car. Here you'll learn the questions to ask about
a loan, how to find the best auto-loan rate, how to determine your
down payment, and what rebate or loan options may apply to you.
We've also got calculators throughout the chapter to help make the
homework a little easier.
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What you can expect to learn from this chapter: |
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Where
to get the money |
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You can borrow money from
a bank, credit union, car dealer or your home equity.
In any case, the length of the loan and the interest rate
are key. |
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Ask
these 9 questions |
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Write them down before you
talk to a lender and be sure you understand every answer
before you agree to the terms. |
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Loan
options and rebates |
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Your options are to finance
through a bank or credit union or the dealer -- who's
just a middleman for another lender. We'll show you how
to weight your options. |
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How
to find the best rate |
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Start with Bankrate's daily
update of loan rates. Then comparison shop among online
lenders. Finally, get a minimum of three quotes. |
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The
cost of 0 percent financing |
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High monthly payments over
a short term might make no-interest financing too expensive
for you to handle. |
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Sizing
up your down payment |
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To avoid being "upside
down" on your loan, you may need to make a large
downpayment. Our calculator can help you determine your
down payment. |
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Chapter
5 quiz |
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Did you learn enough to
get the best loan? Take our test and find out. |
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Chapter 5: Financing the deal
