Are you ready for a new set of wheels? With so many features and options to consider and with inventory still limited, it’s easy to blow your budget. With a little preparation, you can create a car buying plan that’ll keep you in the driver’s seat and yield big savings.

1. GET PRE-APPROVED. Getting pre-approved helps you know, when you select a car, whether you can afford the payments. It can also give you leverage when negotiating your car’s final price. If the dealer’s terms are better, you can sign with them, but walking into a dealership with financing in hand saves time and shows you’re a buyer ready to make a purchase.

2. REVIEW YOUR CREDIT REPORT. Your credit score impacts your loan terms. Clearing credit issues can improve your score and lower your interest rate. Be sure to review your credit report at all three credit bureaus. Dispute any errors by contacting the appropriate credit bureau, and negotiate payoffs with creditors in exchange for them removing items from your report.

3. CONSIDER YOUR OPTIONS. A new car can depreciate 10%-20% once driven off the lot. Used car inventory is currently in high-demand, but depending on the vehicle you’re looking for, there are still savings to be had compared to purchasing a new vehicle. Or, if you really like the new-car smell, consider leasing, which involves lower payments up front.

4. RESEARCH YOUR TRADE-IN VALUE. Visit Kelley Blue Book online for an estimate if you plan to trade in your current vehicle. Since dealerships factor in costs to get trade-in vehicles showroom-ready, you can make minor cosmetic repairs and provide records of new tires, brakes and other parts to boost your trade-in value.

Visit PremierAmerica.com/AutoLoans to explore your options. Call Premier America’s Loan Center at 866-410-0171 to get pre-approved for a new or pre-owned vehicle purchase. We make it fast and easy to get behind the wheel.
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