Our loan calculator will help you calculate the monthly payments based on different loan amounts. In addition to the monthly loan payment, you should also estimate other costs of the car, such as insurance, tax and operating expenses.

Helpful Hint: It's a good idea to get an insurance quote before getting your heart set on a new automobile.

Securing the financing before entering the dealership may improve your negotiating position and reduce your time spent at the dealership. So Apply Now for an auto loan.

Helpful Hint: Knowing your buying power before going to the dealership may reduce stress and waiting time.

Based on your budget and your pre-approved financing, research automobiles which meet your needs and fit your budget. Check out industry magazines and car publications to see what the experts think. Talk to friends, relatives or co-workers to see if they like their cars or trucks. Use the Internet for your research. Choose at least three "target cars" to consider buying. Visit our Research section for assistance.

Helpful Hint: It is better to have your research completed before you go to the franchise dealership. You will benefit by test-driving the automobiles you know about. Don't waste time test-driving an automobile that you know is missing the options you want.

Retail is the "market" value. The dealer might offer below retail because he may invest some money for reconditioning or repair before selling it again.

There are two common scenarios when trading in an automobile.

1) You own the automobile free of any liens or balances. You will be able to apply the full price offered by the dealer as a down payment to your new automobile purchase.
2) You owe a balance to a lien holder or finance company. If what you owe is less than what the dealer offers, they may pay off your existing loan and apply the difference to you as down payment. Owing more on a trade-in than it is worth (also known as "being underwater" or "negative equity") weakens your negotiating ability, so it is even more important to establish your purchase price before discussing your trade-in.

Helpful Hint: Sometimes it is a requirement of the approval to show documentation of a trade-in.

A critical part of the auto-buying process is establishing the sales price. It is important to understand the difference between the MSRP (Manufacturer's Suggested Retail Price, also known as the "Sticker Price") and the Factory Invoice Price, which is the price the dealer paid for the vehicle.
The invoice price is where you should start your negotiations, not the price on the window of the car. Negotiate from the Invoice price up, not from MSRP down.
Manufacturers may offer special incentives or rebates to increase the sales of certain models. Sometimes this is passed on from the manufacturer to the consumer in the form of customer cash or cash-back.

Helpful Hint: You may find it helpful to research prices in our Research section before you go. It will give you a better idea of where to start your negotiations. Be reasonable with your negotiations. Dealerships are businesses just like your local grocery store. They are in business to make money.

This is not only a chance to evaluate the automobile you are considering, but also, a chance to evaluate the dealership and the salesperson.

Test-driving pointers:

1) Turn down the radio. You want to hear the engine, the tires, the suspension or the brakes.
2) Feel how it handles on a freeway or how it corners on city streets.
3) Practice parking in smaller spaces.
4) If you are seriously considering the automobile, try all of the buttons and controls to make sure they work. There is nothing worse than getting your new car home and the sunroof doesn't open.
5) Pay attention to the salesperson and dealership staff. Do you feel comfortable? Do they make you feel welcome?
6) Take a friend! It is great to have a second opinion and someone to help you walk away if you are not ready to buy.

Helpful Hint: Remember, you do not have to buy the day you test-drive. Take your time finding the automobile you want. You may be driving it for the next four or five years.

Inquiries mean that you have been seeking credit with various credit grantors, resulting in multiple requests for your credit report. Creditors may view too many inquiries as a sign that you are experiencing financial difficulties.

Helpful Hint: Many dealerships send credit applications to multiple lenders to see which one can offer the best deal. Each lender pulls credit and it appears as an inquiry on your credit report adversely affecting your credit. By using your approval, you will keep your credit on track by reducing inquiries and keep more control in your hands during the buying process.

Simple Steps To Remember:

1) Sales Price
2) Trade-In
3) Down Payment
4) Rebate/Incentive

Once you have the dealer's best sales price in writing, consider whether you should get a quote from another dealer. If you are positive that you have gotten the deal you want, then talk rebates, down payment and discuss your trade-in. If there is a factory rebate on your new car, the incentive is from the manufacturer, not the dealer. This rebate is an additional savings on your car, and should not be a part of your negotiations. The same holds true for whatever cash down payment you may have.

Helpful Hint: Remember, competition always gives you the best price, online and offline. Never buy under time pressure. Do not act like an impulse buyer. Get everything in writing! Once you make an offer, stick to it, and be prepared to leave if you have to.

Helpful Hint: Don't be so excited about your new automobile that you don't pay attention to the numbers. Is the payment one that you can afford? If not then you may need to negotiate more for your trade-in or ask the dealer to reduce the sales price.