16 Things to Consider When Buying a New Car

Credit ScorePhoto by LendingMemo


9. Know Your Own Credit Score

A big mistake made by car shoppers is not looking up their own credit score before going car shopping. If one goes car shopping with a credit score north of 700, the auto dealer’s credit company should offer a much lower interest rate to the shopper than if the rating is somewhere in the 500s. If the score is too low, the shopper may not qualify for any credit offers directly from the dealer and should shop around other banks and lending companies before wasting a full day at the auto dealership. Similarly, shoppers with high credit scores may be able to obtain a much better interest rate through a bank or credit union than the dealership can offer.


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