Top 10 Things To Know Before Buying a Car

5. Finance Rates Bank vs Dealership

Now that you know your credit score, you can learn the size of loan you can get and the associated interest rate.

Start at your bank or financial institution to find out how much of a loan you can get approved for and what borrowing the money will cost. This is handy information to have before heading to a dealership because the automaker’s finance rates may be different than your bank’s. Compare the two rates and find out which one works best for you.

Interest rates can also change at the dealership depending on the car you are interested in. Some newer or more popular models may have a higher interest rates than other vehicles on the showroom floor.

SEE ALSO: Car Loans 101: What You Need to Know About Financing a Car