Step 7: Arrange financing ahead of time.
If you’ll be financing the purchase, shop around beforehand to find the lowest interest rates, which can vary by several percent from one lender to another, with credit unions typically offering the best terms. Have your credit checked by a financial institution to see if you qualify for the lender’s best rate, which is typically available only to those having flawless borrowing histories. Also check automakers’ websites to see if any are offering cut-rate financing deals that, depending on the model, can be as low as zero percent. These promotional rates usually apply only to buyers with top credit ratings.