If you’re shopping for a car and have decided to buy one from a dealership, then you can take a few precautions before doing so. Being as prepared as possible before shopping for a used car can prevent any unscrupulous scams from possibly happening. Here are a few tips to help you not get snookered when sitting across from a dealership salesperson.
Do your research on financing and credit before stepping into a used car dealership
After coming up with a shortlist of used cars that you want to check out, it’s important to also do your research on financing and your credit before going to a dealership. You can get an idea of your credit score through sites like Credit Karma or your credit cards. However, just know that the actual FICO 8 score – which is what dealers use – could be a little higher or lower. But the online score will at least give you an idea.
If you’re planning to finance the vehicle, we recommend checking with your bank or credit union first for an auto loan. Afterward, it’s a good idea to check with a couple of other banks to see which can offer you the lowest interest rate and best loan terms.
By securing an auto loan beforehand, you’ll know exactly how much you can afford and how much you’ll pay on the loan. That way, you can shop for a car without having to deal with getting financing through the dealership – since dealers have been known to mark up…
