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Staying Focused Helps You Get Better Financing

Amanda Hart

Like an oak

In this world of instant gratification and people living above their means, it's more important than ever to stay focused on your budget and your goals. This is especially true with buying cars, and even more so with getting the best car financing.

It all starts with being thorough and realistic with your budget. You literally can't afford to be locked into an obscenely high payment for years on end, all because of overlooking just a few steps or not being practical when buying a new car.

The most important things to set in stone early on are your credit score and budget. It's easy enough to find out your credit score online, and it makes a tremendous difference in what kind of deal you can qualify to get.

How loans and cars are connected

Not all cars are financed equally. The terms of your financing will greatly depend on what kind of vehicle you want and how old it is. Newer vehicles often have lower interest rates on them, and you will probably not find financing available on cars that are seven years or older.

It's crucial that you know what your spending limit is ahead of time and stick to it no matter what. Just a few extra dollars a month for this or that will add up in the long run. Extending your loan length may get you cheap car payments every month, but you will end up paying more in the long run.

Doing your homework ahead of time and sticking to your plan will pay off huge in the long run. Many shoppers take their time mulling over options like paint color or satellite radio, but treat their financing like its just some unimportant paper work they have to sign as fast as possible.

This couldn't be farther from the truth, and it is perhaps the single most important step in the car buying process.

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