When you see interest rates advertised at car dealerships, whether they’re new or used, they’re always the lowest rates possible that are advertised. That is fantastic, but it’s important to know that each situation and loan is unique. The thing that people often aren’t informed about is how those rates got so low, or what the details are of the offers available to them. When making a decision about your vehicle financing and interest rates, it’s important to know all of the details and not just the one big number. This is how I get the rate that’s actually the best for you.
While I’ve been able to help people with bad credit, no credit, and great credit get into car loans, each one is different. The best, or lowest, rates most often available to those with the best credit and/or down payment against the vehicle. I specialize in tricky financing situations such as bad credit, and bad credit loans often come with a somewhat higher interest rate.
When looking at a car loan, the rates offered are dependent on the amount of your loan, your credit score, and the term of the loan (how long you plan on taking to pay it off). Consider this when shopping for loans, and make sure that you aren’t shopping based off of rates alone. Having a rough idea of your credit situation will better allow you to know which rates you might be eligible for, and then allow you to get the best one within that range.
I have a long history of working with people to secure financing for their vehicles. When you’re looking at car loans, don’t just look for the brightest sign or the most attractive numbers. Each financing professional will have a set of lending institutions that they work with to qualify shoppers for loans. Knowing your individual situation allows me to determine which lender is best-suited for you, and most likely to give you the lowest rate available.
Avoid sending applications to multiple lenders, as each one of these submissions harms your credit. You don’t want to pull your credit more often than you have to, to keep checks against it minimal and keep your score as high as possible. This is never a good thing, and be sure to avoid institutions that do this.
As a dedicated finance professional, I specialize in finding you the best loan for your unique situation. There’s nothing worse than getting declined, and nothing better than getting approved. I know which lenders to find your loan through, and which will get you the best rate. This means that you’re actually getting the best loan for you, and not just the rate on the wall. This way, you get into a great used car or truck, and can rest easy knowing that you got the best deal.