We all want to get the best interest rate when buying a vehicle. The best way to ensure you get a good rate is to do your homework before you you even think about negotiating your purchase.
Find Out Your Credit Score: Make sure that you find out what your score is because if you don’t know your score, you may be pushed into 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-tier rate and low rate will offer higher interest rates.
Research Interest Rates: Know what kind of interest rate will be made available to you.
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.
You may wonder why we are letting you know this information. We at Legacy Ford Ponoka always treat our customers like family. When it comes to financing and interest rates, it is always a good idea to look into things.
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