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What's the most common thing you hear from your customers?
That the entire process was far more easy than they had ever imagined. This is especially true when people are worried about their credit, and they find out it's really not a big deal.
What kind of rate can I expect?
Lots of bank Web sites list current rates, but the best place to see rates based on credit scores is www.myfico.com. Remember, even though My Fico does not list rates for scores under 500, we have lenders who will handle loans in that credit range. Remember, too, that your interest rate will depend on more than your credit score (such as the amount of your down payment and whether you are buying a new or used car).
Can I buy a car from my neighbor?
Sorry, but we cannot finance such purchases at this time. All vehicles must come through our approved dealer network.
Can you tell me my interest rate over the phone?
We could but we won't. In this age of identity theft and web phishing and hacking and all that, we insist on discussing your personal financial information in the most secure way possible -- face-to-face. We spend a lot of money on information security because we have to. Without information integrity, we're out of business -- and we've been at this for 20 years.
Anything else I need to know?
If you apply right now, there's no obligation to buy and our services are free.
Here's a term to learn -- platform cars. That's when several cars share the same frame, drivetrain and engine, and the only differences are in styling.
Quite simply, learning about shared platforms can save you buckets of money.
The Pontiac Vibe, for instance, is essentially a Toyota Matrix -- but is usually a lot less. The Saturn Aura is essentially a Chevrolet Malibu or Pontiac G6; the Aura has been tweaked for better handling, but is that worth an extra $3,000? More.
This is a special bulletin to young people: Negative information can stay on your credit report for seven years.
This is very important because if you blow off a loan because you think it doesn't matter YOU COULD WIND UP PAYING HIGHER INTEREST THAN YOU NEED TO UNTIL YOU ARE 30!
Considering it can take seven years of good credit to get a perfect credit score, you might want to think about lining up a co-signer before you start your car shopping process.
