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The right way to handle automotive loans [Video]

Posted on Tuesday, October 11, 2016 at 3:25:44 PM

With so much movement taking place in the automotive financing arena, one can only hope that consumers are putting in their due diligence before signing on to a car loan. With the right knowledge and approach, individuals can better handle the challenges of navigating the lending market and end up with the financing program that best suits their interests. 

Consumer Affairs recently suggested several tips to help car buyers land on the right loan program for their used or new automobiles, including conducting thorough research of vehicles before even beginning the financing application process. When the time comes to apply, the source recommended consumers be more interested in and focused upon the total amount paid through the lifecycle of the loan rather than just the monthly payments. 

Additionally, the news provider argued that consumers should always look around for multiple programs before deciding upon one, regardless of how the first application goes. 

Consumers who want a more personalized approach to their lending experience should consider working with a local, community financial institution, which will help them to navigate the automotive financing market more intelligently.