Unless you have oodles of cash lying around the house, you’re going to need financing to buy a car. With interest rates on the rise, finding good auto loan rates in Washington may seem a bit difficult. You can save on costs, though, when you follow these six simple rules.
Clear your debt
Have debt? Focus on clearing that. Once you’ve paid off all your debt, that’s a good time to consider getting a car. With a clean financial slate, you’ll have higher credit scores, making it easy to get the loan you need.
Pick the right car
Some banks or credit unions may offer discounts to entice buyers to make an offer for certain makes and models. Find out if that’s the case. If the car is right for your budget and needs, then you may have found a good deal for you.
Join a credit union
There are plenty of advantages to joining a credit union and making the switch from a big bank. Credit unions are well-known for offering lower fees and interest rates. If you want cheaper auto loan rates in Washington, then check in with credit unions in your area.
Research
Weigh the pros and cons of switching to a credit union. Do your homework. Check out the company. Go for organizations with excellent reputations in the field like HAPO. That should give you sound options to go for.
Check if you qualify
There are always promo offers for veterans, students, and others. You may qualify for those discounts so don’t forget to check. That may help you get the best interest rates, USA Today says.
Declare a change in your civil status
Married drivers often get lower interest rates because they come across as low-risk applicants. If you recently got married, then declare your change in civil status. That can help you get better interest rates in the future.
