Get the most out of your next vehicle finance deal at a car dealership, by considering the low interest rates that Carfin offers! Car finance that drivers can get with Carfin is second-to-none and is saving them tons of money on their monthly payments. Who doesn’t want that?
Did you know that as a car buyer you should bring vehicle finance information along with you to dealerships to ensure you’re getting the lowest interest rate available. By going to an auto dealer you’ll also be able to find out whether or not you qualify for auto financing.
When negotiating your car finance options with a dealership, there is a process that you’ll go through to get to your final number.
Firstly, you should negotiate the MSRP (Manufacturers Suggested Retail Price) of the vehicle with the dealer. This is the retail price that you will be paying for the car before tax, titles, and other fees. The next step in vehicle finance is deciding how much money you’d like to put down as a deposit. Finally, you will discuss with the dealer the payment terms and length of loan. This will determine what the monthly instalments will be.
When you take into consideration the overall cost of the vehicle, subtract your down payment, and divide that number by the number of months your loan is for while also taking into account added interest, that’s how you easily figure out the overall and monthly costs of your vehicle finance.
Once you’ve negotiated and you’re happy with your finance deal, car buyers will be asked to sign a retail instalment sale contract. Under the terms of this document, the driver agrees to make the agreed-upon monthly payments for the entire duration of the contract, until your vehicle is paid off. Once you make all of these payments, the car you’ve been paying for for all those years is now officially yours to keep for as long as possible or sell and use the money for a deposit on your next car.
But keep in mind that if you want your vehicle finance monthly instalments to be as low as possible, it all starts with getting a low interest rate from Carfin before you head to the dealer. And if you’re someone who is already tied up in car finance that you’re unhappy with, Carfin can also help refinance your vehicle and decrease your monthly payments.