2615 28th St SW Wyoming , MI 49519 616-426-6230

Auto Loan Financing Tips

In Today's world it is very easy to get caught up in financing propaganda and to be pulled in to a very bad financing decision. If you want to build your credit..Stay away from a buy-here-pay-here options! Hopefully these simple tips and suggestions will help you make a better financing decision. 

The first step to getting an auto loan is to decide what vehicle makes the most sense for you. This may be a truck, car or SUV.  Then go to an auto website to see whats out there. Some good options are www.cargurus.com or www.carfax.com. Both of these provide great tools for doing research on vehicles. 

After you have decided what type of vehicle you need, it is time to figure out your budget. Most finance institutions use a simple equation to figure out what payment will work for you. This can lead to some big problems when it comes time to make a payment. Finance institutions take a percentage of your gross income and decide if that payment will work or not work for you. Some things they do not consider is dog food, hair cuts, vehicle repairs, birthday gifts, ect.. So keep in mind, make a budget and stick to it. A simple way to do this is take your total income and subtract all your bills and expenses and see what you have leftover. Make sure you still leave an emergency fund for any surprises. 

Once your budget is set and you have found the vehicle you have decided on, now it is time to do some research on what bank or credit union has the best rates and financing options. If you are a part of a credit union it is always worth checking their rates and terms first. If the dealership that has the vehicle you are considering offers financing make sure that they are either partnered with your credit union or have similar options. 

Once financing is set in place with the credit union or your dealership they will ask for stipulations. Stipulations may consist of a W2, check stub, utility bill or even proof over voters registration. The most important thing to remember is to not lie on your credit application about your income or time at job or residence. People that lie on their application most likely will get caught and not receive a loan. Make sure to have these items ready in case the lending agency needs them for funding. 

Finally, before signing paperwork or moving forward with your purchase, consider protection options. These can be warranty's or insurances for your vehicle to protect you down the road if anything were to happen. 

Thank you for taking the time to read our blog. Hopefully some of our suggestions will help you with your purchase. 

If you have any additional questions on finance please call 616-426-6230 or contact us on our website at www.fusionautosalesmi.com 

We are here to help with your Auto Financing questions 

How To Get The Best Deal

 A lot of people ask " how do I get the best deal on a vehicle?" There are a lot of ways to make sure you get the best deal. Some tequniques and tricks to making sure you get the best deal may vary depending on the vehicle you are looking for (looking for a Ferrari for example). 

The basics to getting the best deal on any vehicle you are purchasing is making sure you can trust your dealer. The best way to do this is to ask some questions you already know the answer to. If you get some long-winded response and it sounds like a made-up response...move on. You want to buy a vehicle from someone you can trust. The auto industry is not full of crooks and shady sales people. There are many well-rounded and trustworthy people that work in the auto industry. 

Now that you trust your car dealer, make sure you do your research! Here at Fusion Auto Sales we like to use CarGurus.com which makes sure we have the best price based on the vehicle and vehicles options. We aren't always the first on the list, but we tend to be within the top 10 in a 200 mile radius. We strive to be the lest expensive without cutting any corners and shortcuts in the process. It is very important to us that when our customers research our vehicles they know they are getting a great price as well as a great vehicle. We also use Carfax.com as help to ensure our customers have the best research options right in front of the.

After you have gotten the basics taken care of it is now time to negotiate. This to  a lot of people is very scary. Negotiating does not have to be. When purchasing a pre-owned vehicle always consider adding a warranty or some sort of protection to the vehicle to help negotiate. The reason for this is simple; it protects the vehicle. Nothing is worse than buying a vehicle and feeling like you got a great deal then five days later have to put a new angine in it!. 

I hope these tips help. If you have any questions or would like some help making sure you get the very best deal let us know! call 616-426-6230 or email us at fusionautosales1@gmail.com

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