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Auto Financing By Car Dealers

Getting auto financing from a car dealer should ideally be a good idea. This is because the financing will be arranged by the dealer-who still has to go to the bank-thereby doing all the dirty work while all you do is sign some papers and drive out with your car.

But such a financing deal could have very many hidden costs that the dealer will not tell you about and that you may never really know about until you scrutinize further.

For example, the dealer may throw in some costs for such things as protection from rust and you might think that is very kind of them. Until you realize these feature is already present from the factory, the car always had it so you are paying for it for nothing.

Car dealerships will also add costs that are unseen like with the payments period. Here they will offer you a very small monthly repayment but end up paying for it over a very long time. This may look attractive but when you add up the total cost of the car you will find that it actually adds up to more.

Also ensure that the interest rates do not change over the duration of the auto financing and seek to know how much the rate is and what it works out to in real money. Dealerships will always entice you with other things like window etching, insurance (other than motor vehicle insurance) which you can do without or get elsewhere for far less than the dealerships are offering.

Remember, the dealership may seem like your friend but it is first and foremost a business. So before you drive out of the dealership in your brand new car with a smile pasted on your face, make sure you count the real cost of the car that you have bought. Also, check that the auto financing auto financing is favorable.

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