OnPoint Community Credit Union | Car Loan Tips – Money Matters (2010)

Here’s another Money Matters tip from
OnPoint Community Credit Union: Okay, so you think you’re ready to buy a new
car. Well here’s what you should do before you
step foot on the lot. First, figure out how much you can afford. Just
remember you can lower your payments by taking more time to pay off the loan, but you’ll end up paying more
for the car in the long run. Second, get pre-approved for your auto loan
before shopping. A pre-approval will tell you the amount you’re approved to borrow. This will give you time to carefully consider the loan amount, interest rate, length of the loan, and the monthly
payment that best suits you. A pre-approval also makes it easier
to stick to your budget, and avoid the high pressure you may
experience when you’re at the dealership, because you already know how much you can
really afford. Do your homework ahead of time and things will go much more smoothly. And most importantly you can feel good
about the deal you got on your new car. Keep your finances on
track with more smart money tips from OnPoint Community Credit Union. Just log
on to KGW.com/OnPoint for more tips.

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