Originally published June 16 2005
Ten tips on buying a car
by Mike Adams, the Health Ranger, NaturalNews Editor
This article on CarJunky.com explains how consumers can get the best deal on new and used car loans -- the best deals don't necessarily come from the dealership or the bank.
Whether you are planning to purchase a new or used car there are several things you should consider in order to get the best deal, and avoid breaking the bank.
1. When applying for a car loan, or any loan for that matter, it is important to have a clear idea of how much you should expect to pay over the life of the loan.
The amount you repay will be significantly higher than the sticker price; how much higher will depend on the interest rate and terms of your loan.
There are a number of online loan calculators that can help you determine the cost of your new or new to you car.
Many of these loans are tax deductible and offer a great deal in terms of savings and flexibility when you are negotiating with the dealer.
Home equity loans are best for those with a firm hand, or willing to get a firm hand, on saving and spending.
There are a number of online finance companies that offer competitive rates and no hassle paperwork.
Using the Internet allows you to search quickly and confidently for the best rates available given your particular credit profile.
Don't share any information until you are ready to apply; and then, share only with a reputable lender at a secure site.
You should also get information about costs related to operating the car such as routine maintenance, fuel, insurance and registration.
Dealers are trained to create an emotional attachment by getting you behind the wheel early in the negotiation phase.
Excessive credit inquires impact your credit score; and credit inquires are unnecessary until you are ready to apply and buy.
If you feel confident that you are making the best deal you can always return to the dealer tomorrow.
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