Will you be watching the Super Bowl this year? Aside from the cheering and half-time show, you’ll also likely see a ton of car commercials if you tune in to watch the big game.
Car commercials can be flashy and exciting, and may get you dreaming about getting into a new car. But with car commercials it’s super important to read between the lines; if an ad seems too good to be true… it is. Here are some things to look for:
Going to a dealership and leaving with a car without paying any money sounds pretty sweet! Unfortunately, this is the epitome of “too good to be true.” If you can make out any of the fine print, you’ll see the words “qualified buyers with approved credit.” And the fine print doesn’t disclose what qualifies as good credit. Offers like this are usually only available to buyers with the highest credit scores.
But, hey, maybe you’ve got awesome credit! If you did qualify for a deal like this, remember that “no money down” means that you’ll ultimately pay MORE in interest over the life of the loan. For example, if the car you’re buying costs $20,000, and you put $5,000 down and get $2,500 on your trade-in, you’d be financing $12,500. If you don’t put any money down with the same purchase price and trade-in value– you’d be financing $17,500!
Everyone loves cash back, right? Not when that cash has been built back into the cost of the car. The sticker price has already been adjusted – so that car over there that you’ve had your eye on cost $17,500 before the ad. Now it costs $22,500. When you subtract that $5,000 they’re paying for your trade-in, you’re paying the original sticker price.
This is just a way of saying you’re going to be paying a higher interest rate and the term will be longer. If you do take this offer, ask if there are any fees for repaying the loan early. If there aren’t, pay that loan off as quickly as reasonably possible.
Before you accept a high interest rate, long-term loan, check with a financial institution like MVCU. We have a long history of helping people get loans that work for them as they rebuild their credit.
You don’t have to play games with the car dealerships. Skip the haggling hassle altogether by simply using our Auto Advisor service. Our Auto Advisor experts bring years of car buying and selling experience to the table– but they’re on YOUR side! They can help you locate, negotiate, and finance your next car… for free. Learn more about Auto Advisor here!
Category: Car Ownership
Here’s a big secret that could save you some money: auto financing is not just about the loan. When you control the financing, you control the deal! In this blog I’m going to share how you can walk into a car dealership with confidence and get the best deal without falling for any expensive tricks.
You’re ready for some new wheels, but should you buy new or used? There are passionate arguments on both sides, so you have to take your needs, wants, and budget into account while making this important decision.
Are you excited about the possibility of getting a new car, but dreading the pressure-cooker car dealer shopping experience? If you’ve EVER bought a car you probably remember how long, stressful, and confusing the process was. Nobody wants that, right?
If you’re ever in a car accident, GAP insurance could truly save the day when it comes to protecting your finances. This type of insurance covers the “gap” between how much you owe on your auto loan and how much the car is currently worth if your automobile gets totaled. Here’s what that might look like in real life…
Buying a car can be a daunting process, even in the best of times. You have to navigate confusing “asterisk” advertisements, where things like prices, trade values, interest rates, monthly payments, and availability are all disclaimed. And then there’s the long, stressful negotiation at dealerships (“Let me talk to my manager”).
Will you be watching the Super Bowl this year? Aside from the cheering and half-time show, you’ll also likely see a ton of car commercials if you tune in to watch the big game. Car commercials can be flashy and exciting, and may get you dreaming about getting into a new car. But with car commercials it’s super important to read between the lines; if an ad seems too good to be true… it is. Here are some things to look for:
If you’re in the market for some new wheels, you may be confused about leasing. Is it better to lease or buy your next car? There are passionate arguments on both sides, so you have to take your needs, wants, and budget into account while making this important decision. Below are some pros and cons of leasing– we’ll leave it up to you to decide which is best for you.
February is a BIG month for car sales! You’ll find many Presidents’ Day special deals from the auto makers, car dealerships and financial institutions. Before you shop for your new car, here are some smart strategies to help you drive home with the right car and the best deal!
Even if you’re a fantastic driver, you’re surrounded by other drivers every time you hit the road—and they may not be skilled, alert, focused, sober or even awake! Did you know that MILLIONS of car accidents happen in America each year?
This type of insurance covers the “gap” between how much you owe on your auto loan and how much the car is currently worth if your automobile gets totaled. For example*, imagine that you purchased a new car and took out a loan for $31,000. Unfortunately, after 2 years, your car is totaled in an accident. Based on your loan, this is how the math would work:
Traditionally, February is a BIG month for car sales! You’ll find many Presidents’ Day special deals from the auto makers, car dealerships and financial institutions. Before you shop for your new car, here are some smart strategies to help you drive home with the right car and the best deal!
Car buying has never been for the faint of heart. Now, though, there’s a new challenge: inventory! On top of the usual wading through dense disclosures in ads, haggling at the dealership, and securing financing, you have to work a lot harder to find a car!
Life is busy. Not enough hours in the day, right? But even when you’re not busy, it would be nice to enjoy what little down time you have. So when shopping for a new car feels like ONE MORE THING on your to-do list, let the experts check it off for you!
Owning a car is becoming a costlier affair for drivers nationwide, with auto insurance costs seeing a surge of approximately 26%* from the previous year. In the face of continuously rising rates, RTN Insurance Agency is here to assist you in discovering the most competitive rates.