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When buying a new car, financing is often the first thing on your mind. Even if you can make a sizable down payment, you may not have the full amount to buy the vehicle you desire. Never fear, there are many great dealerships that are willing to work with you. Access to Ample Funds Choose a dealership that has access to a variety of lenders. You want to be able to choose a payment plan and interest rate that works best for your credit rating, income, and the end cost of your vehicle. Many dealers work with dozens of local and national banks and lending institutions to get you the loan you need. In-house Services A dealership may offer in-house new car financing, which you can take advantage of. The benefit of using this kind of service over a bank or third party lender is that you can work directly with the seller of your vehicle to negotiate your interest rate and payment plan. If you have poor credit, in-house services may be your wisest option since many banks require a minimum credit score for loans. Convenient Hours When it comes to your new car, financing is often the longest part of the sale. You may not have time to visit a dealership during your lunch break or their early evening hours. Make sure you choose a company that has a department open on weekends or late into the evening. This way, you can have the time you need to discuss your payment options and have all your questions answered. Later hours also mean that when you call in, an associate will be able to answer any money-related questions. What to Bring with You When you go into a dealership for new car financing, you should come prepared. To prove your income, bring a recent tax return or payment stubs from your most recent paychecks. You should also bring any verification of stocks and other income you have, as well as proof of home ownership and current debts. You will also need an ID, such as your driver's license, in order to begin the application process. Set up an appointment with an associate to see what your best options are based on your down payment, budget, income, and credit history. You should be able to get the loan you need that fits within your budget. When considering new car financing in Newburgh, NY, residents visit Sunshine Ford. Learn more about them at http://sunshineford.net/Finance.aspx.
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