Tips On Financing A Vehicle (NAPSA)—Whether you’re shopping for a new or used vehicle, there are ways to make sure you get the best deal when you finance yourcar. Finance 101 There are a numberof financing options, but “dealership financing” is the most commonly used. The practice involves a buyer and a dealership entering into a contract where the buyer agrees to pay the amount financed, plus an agreedupon finance charge, over a period of time. Last year alone, more than 40 million auto-financing transactions were arranged through dealerships. Americans Well-informed on Automobile Retailing Economics (AWARE), a group of automotive industry leaders providing free advice to locate, price and negotiate to buy the car you want, offers these tips: Before Visiting The Dealership Evaluate your financial situation and determine how much you can afford to pay. A list of online auto financing calculators can be found at www.autofinan cing101.org/resources/links.asp. Check out auto buying guides, the Internet and other sources to determinea realistic price range for the auto you are thinking of buying. * Understand the differences between buying and leasing an auto. “Keys to Vehicle Leasing” (www.federalreserve.gov/pubs/leas ing), a publication of the Federal Reserve Board, provides useful information on this topic. Get a copy of your credit report so you can correct any errors and be aware of what credi- Ce ar7 | CNR Wey VT TSN mg 4s ap (S\N ZEA OF vw jo ofp .% Luge EO vA Ie FIA 2s J NSS) re Visit www.autofinancing101.org before buying a car. tors will see. All consumers may obtain a free copy of their credit report annually. Consumers can request their free annual credit reports via the Internet at www.annualcreditreport.com, by calling 1-877-322-8228, or by mailing requests to Annual Credit Report Request Service, P.O. Box, 105281, Atlanta, GA 30348-5281. Compare annual percentage rates and financing terms from multiple sources such as banks, finance companies, credit unions and dealerships. Shopping For A Vehicle Stay within the price range you can afford. and negotiate your finance terms just as you negoti- ate the price of the vehicle. * Understand the value and price of optional products such as extended service contracts, credit insurance, or guaranteed auto protection. If you don’t want these products, don’t sign for them. Read the contract carefully before you sign it. Ask questions about anything you don’t understand. For more information, visit www.autofinancing10L.org.
