What do I do before going to the dealership? These tips will help you feel more confident on the dealership lot.
Make sure you know how much you can afford
By knowing what you can afford this will help you budget for the car that is best for you.
Know your credit score
This will affect your ability for a lower or higher financial rate. If you have a low or bad credit we can help you at Louisiana Approval! Our professional and highly qualified agents are here to help, just reach out to us.
Buying vs leasing
Mainly buying is paying the full payment of the car plus taxes, registration, and other fees that apply. When you buy a car, you are the owner. This is a more expensive option but you are the sole owner of the car. You are able to sell it, fit it to customize your needs, etc.
Leasing means having monthly payments with restrictions such as mileage. The costs are lower because you will be only paying the first monthly payment, the vehicle’s depreciation, rent charges, and other fees. When you lease a car you are not the owner. You can use the car as long as the lease but then you will have to return the car, unless you decide to purchase the vehicle.
Know APR (annual percentage rates) and financing terms
The annual percentage rate or APR is the rate in which you pay annually or how much you will pay annually in interest on the loan. If you have a lower APR then you have lower monthly payments. Just remember APR is not an interest rate.
Research the car you are interested in that is within the budget.
Know the car you want to purchase. If you are needing a mini-van for your family, or a small SUV for those road trips. Make a list of your needs and find a car that will be perfect for you.
Still have questions? Louisiana Approval is here to help. We are here for you, let us help you achieve your auto financing needs, just contact us today.