Difference between revisions of "Get a Low APR on a Car Loan"
m (Update ref tag) |
m (Text replacement - "== Video ==" to "") |
||
| (6 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
| − | + | APR stands for Annual Percentage Rate. It defines the amount you pay in interest for an entire year rather than just in the course of one payment period (usually a month). Getting a low APR on a car loan will reduce the amount of interest you need to pay on the car loan over time. Unfortunately, many dealers attempt to manipulate buyers into paying exorbitantly high rates. Doing your homework and knowing what your bargaining chips are will enable you to negotiate a lower APR. | |
[[Category:Car Finances]] | [[Category:Car Finances]] | ||
| Line 23: | Line 23: | ||
# Be ready to walk away. Though it doesn’t apply to all, the usurious used car dealer stereotype exists for a reason. If you are getting a bad deal and they won’t budge, walk away. If you did your homework, you will have several more options. Even if they don’t give you a better deal to get you back to the negotiating table, you will probably have better luck with another more trustworthy dealer. | # Be ready to walk away. Though it doesn’t apply to all, the usurious used car dealer stereotype exists for a reason. If you are getting a bad deal and they won’t budge, walk away. If you did your homework, you will have several more options. Even if they don’t give you a better deal to get you back to the negotiating table, you will probably have better luck with another more trustworthy dealer. | ||
| − | + | ||
| − | + | ||
== Tips == | == Tips == | ||
