Know Your New Car Pricing Before You Go Car Shopping!

Before Visiting the Dealership:

Evaluate your financial situation and determine
how much you can afford to pay each month.
A longer-term finance contract may mean
smaller monthly payments than a shorter-term
finance contract (if all other terms are the same) –
but will result in more money paid over time on
your contract.
Determine the price range of the vehicle you’re
thinking of buying. Check newspaper ads, the
Internet, and other publications.
Understand the value and cost of optional credit
insurance if you agree to purchase.
Know the difference between buying and
leasing a vehicle.
Be aware that your credit history may affect the
finance rate you are able to negotiate.
Generally, you’ll be able to get a lower rate if
you’ve paid your monthly credit obligations on
time.
Compare annual percentage rates and financing
terms from multiple finance sources such as a
bank, finance company and credit union. This
information may also be available from the
finance sources’ and vehicle manufacturers’ Web
sites.

When Visiting the Dealership:

Stay within the price range that you can
afford.
Negotiate your finance or lease arrangements
and terms.
Consider carefully whether the transaction is
best for your budget and transportation needs.
Understand the value and cost of optional
products such as an extended service contract,
credit insurance or guaranteed auto protection,
if you agree to purchase. If you don’t want
these products, don’t sign for them.
Read the contract carefully before you sign.You
are obligated once you have signed a contract.

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