5 Tips for Getting Car Financing Through Your Acura Dealer

Financing a new or used automobile can be a daunting task. Preparation is the key to both getting a great deal and making the process as smooth and stress-free as possible. Here are a few great tips for getting car financing through your local Acura dealer.

5 Tips for Getting Car Financing Through Your Acura Dealer

1. Know Your Credit Score

Your personal credit score is perhaps the single most important factor in determining what sort of financing deal you’ll have access to, how much of a down payment you’ll have to make, or indeed whether financing will even be an option that is open to you.

For this reason, it makes sense to know your credit score before you even set foot in any car dealership. There are many services that will provide you with your current credit report, and some are available at no charge. Check with the issuers of your major credit cards, as these companies often provide free credit reports to their cardholders.

2. Find Out About Discounts and Incentives

Dealerships offer special discounts and promotions throughout the year, and these deals can sometimes save you thousands of dollars. Be sure to check dealer websites and other consumer publications to find the best offers in your local area.

3. Buy or Lease?

Decide beforehand whether you want to purchase or lease a car, so you can analyze the finance contract details on that basis. There are important factors to consider for each, such as how long you typically own a car and how you use it. This decision will also affect what monthly payments will look like, so take everything into account beforehand.

4. Apply for Pre-Approval

Many dealerships allow you to apply for pre-approval, which can make the process a whole lot easier. Similar to being pre-approved for a home mortgage, this allows customers to know the limits of their budget beforehand. The application is typically quite simple and can often be filled out right on the dealer’s website.

With this step already taken care of, you’ll be able to focus all your energy on the cars themselves, comparing one by one all the features that matter most for your lifestyle.

5. Bring the Right Documents

Whether you’ve already been approved for financing or not, it’s always a good idea to bring certain documents with you. These include your driver’s license, proof of income, bank statements, and recent personal tax returns. It may help to have a few personal references available as well.

Just to be safe, it’s best to call your local dealership in advance and ask what documents they require for financing approval.

We often dream of hitting the road in our next new car, but the financing process is usually not part of that dream. Some find this part of the process terribly confusing or frustrating, but that doesn’t have to be the case. Follow these tips to help things go more smoothly, and be sure to visit Ed Martin Acura for terrific customer service and a great selection of new and used Acuras.

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