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Anchor Intro: When it comes to cars, this is a great time to drive a hard bargain. But unless you're ready
to pay cash, the dealer shouldn't be your first stop. At least if your plans include borrowed money.
Voice over 1: Before you step foot in the showroom, financing first. Here are some simple rules for driving
home the best deal on a car loan.
Voice over 2: Step one? Check your credit score before you step into that showroom. Bankrate.com show you how
to find the best financing.
Voice over 3: This is a sign of the times...empty showrooms...record losses for car manufacturers. But sour news
for them is good news for you if you're in the market for a car.
Voice over 4: But when be sure to check out your FICO score, because that will dictate how much interest you'll
pay. You can pay 15 bucks for your actual score, or you can use a calculator to get an estimate.
Voice over 5: Once you've got a handle on your credit score, it's time to shop for money. You'll often find your
best deal at a credit union. Not a member? Maybe now is a good time to join.
Voice over 6: Then compare that credit union rate with ones you'll find around the web.
Voice over 7: Or use a comparison site to shop for loans from several lenders at once. Just be sure it's a site
that shows you all lenders...not just those who pay to be listed.
Voice over 8: And don't just look at interest rates: check out the fees too.
Voice over 9: And remember to put down as much as you can and keep the loan as short as possible: Both will lower
the total interest you pay. You'll also find lower rates on new car versus used car loans.
Standup: So get approved for a loan before you step into a showroom. See if the dealer can do better. But when
you're already approved, you're essentially a cash buyer. For Bankrate.com, I’m Kristin Arnold.
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