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How to Get Financing for Your New Car

Audi A6 - Audi Mission ViejoFinancing your new car can seem at first to be a challenging task.  You often have to navigate your way through the jungle that is financing, and the leaves might seem like they look pretty thick.

But car financing doesn’t have to be confusing or overwhelming, especially at Audi Mission Viejo. With some basic planning, the financing process can be relatively smooth and pain free, so you can drive off the lot without too much hassle.

Know Your Credit Score

Most people know that the better your credit score, the better interest rates you can get on a car loan. While this sounds very obvious, many people walk into the car financing process blind, only aware that their credit score is “probably bad” or “might be okay.”

Find out your exact credit score — and if it isn’t in a place that will allow you to get a good interest rate, take some time to improve it before you purchase a car. You’ll save thousands of dollars in the long run.

Plan Out a Budget and Stick to It

The car financing process is a long one, and it is extremely easy to overspend. Set the minimum and maximum amount that you want to spend, and factor in all the expenses that will come with the car over the next five years,  like the cost of auto insurance and gasoline. You shouldn’t spend more than 20 percent of your monthly income on your car note.

Car financing doesn’t have to be a difficult, drawn out process. So long as you prepare yourself and you know exactly what you want and what you can afford, you can avoid the pitfalls of car financing. If