How to Get the Best Interest Rate
Five Guidelines on How to get the Best Interest Rate When Buying a Vehicle:
When it comes to getting a new car, it is important to ensure you get a good loan. One way you can help yourself to get the best interest rate is to do your homework. Look around before you settle on anything. Here are five guidelines to help you out:
- Find Out Your Credit Score: Find out what your score is because if you don't know your score, you may get a higher interest rate than you actually qualify for.
- Understand What Your Score Means: If you have a high score you will get the best low-interest rate, if you have a mid-range score you will get a middle-range rate and low rate will offer higher interest rates. Knowing where you stand will help to prevent surprises.
- Research Interest Rates: Know what kind of interest rate will be made available to you. Keep in mind that rates vary widely depending on the type of financial institution you are looking at.
- Keep an Eye on a Loan's Total Cost: You want to balance a loan's total cost against a monthly payment you can afford. Sign up for the shortest term length you can afford to keep you total interest lower.
- The Car You Are Buying: Are you buying new or used? New car rates are often the lowest.
With many big life decision you need to understand the risks that are involved. The team at
Legacy Ford Rimbey wants to ensure that you get the best possible experience when it comes
to purchasing a vehicle. Stop by Legacy Ford Rimbey and you will be treated like family.