Tuesday, October 2, 2007

Five questions to ask a car dealer in order to get the best deal

Here are some good questions to ask:

Which credit reporting agency do you use to make a lending decision?

What is your minimum credit score requirement to get approved?

What credit score is needed to get the best interest rate?

Do your lenders prefer offering lease or purchase financing to a bankrupt debtor?

What incentives are there to lease or purchase right now?

At this point it's important to remain open to either leasing or purchasing. Evaluate your options and incentives. Remember, you're buying the financing.

In other words, the most important factor is the willingness of the lender to loan you money.