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Financing New CarsFinancing New Cars studies show that one out of four people pays $1,000 too much - all in financing costs.  Financing new cars issues deal with some loans car buyers get through their dealership at the time they make the purchase. The Consumer Federation of America, a Washington, D.C.,-based consumer interest group, said consumers often pay additional fees in that process - totaling as much as $1 billion nationwide - without realizing they qualified for cheaper financing rate. What happens, the group said, is that a bank approves an interest rate, the dealer tacks on additional percentage points as a kind of service fee and then the dealer and lender split the difference. About half of car buyers choose financing through the dealership. If the dealer offers you a higher rate, go elsewhere. Go to your bank, go to your credit union, get on the Internet. Find out an interest rate that you qualify for in a loan. Many shoppers have chosen Lease Cars as an alternative to buying. The two most important advantages of leasing a car are the lower monthly payments, and ease of changing vehicles without the need to sell or trade.   Whether buying new or used; or selling a vehicle, first check a reliable car price guide such as KBB (Kelley Blue Book), Black Book, Red Book, or the NADA Used Vehicle Guide. For more on all things automotive, turn from financing new cars to the home page.  Financing New Cars . |