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The secrets to successfully buying cars on finance

Before people even consider purchasing cars on finance they should request a copy of their credit report from one of the two main credit bureaus. It is important you check the financial information about you on this report is not just up-to-date, but accurate as well. If your credit report is in order, take a copy with you to the dealership where you plan to buy your car so they can see an official copy.

Before making a concrete decision regarding buying cars on finance, you should have a clear idea of how much you are able to spend on the vehicle you have in mind. Take in to consideration all your financial commitments to ensure you do not overstretch your finances. Visit a car valuation website before you go to the dealership and get a rough idea of the vehicle's guide price. This will help you understand how much the car is actually worth and put you in a much more powerful bargaining position.

Do not consider taking out finance with your dealership until you have exhausted other, possibly less expensive, options. Get in touch with your bank and find out if you qualify for a loan for the amount you need, ask how much the monthly repayments are and how much interest you will be paying. Even if you get refused for a loan at the bank, this information will help you decide if the car finance is a good deal.

Do not be afraid to try and negotiate a cheaper price with the dealership salesman. People who provide cars on finance know they will make a profit. Even if the salesman insists you have the car for guide price, they will still make money on other extras. A good salesman will expect to be bartered with, so do not miss your opportunity of a better finance deal.

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