There is a lot of money to be saved in car lease rates by decreasing the interest rate. Below are some tips on how to decrease your interest rate.
Get a Pre-Approved Loan
This is a bargaining chip and will allow you to get a get a better price. With the pre-approved loan, you already know your interest rate.
Know Your Math
There are tools online called car lease calculators that allow you to see what you r interest would be on the amount of money you want to invest in a car.
Hire a Broker
This may sound crazy, but a broker can help you lock in a better interest rate. They have the ability to send your loan to several different places, which gives you more options.
Get a Membership at Your Local Credit Union
credit Unions have certain member advantages including loans. Your credit union can offer a good interest rate that already beats most other banks.
Talk to a Dealer
Believe it a lot a good dealer will try to get you the best interest rate they have to offer. Remember you share a common goal to leave in a new car. This opens the door to many bargains that can be made.
The quicker you pay off the loan the less you pay in interest.Even though the payments are higher, it saves you money in the long term.
Nothing can close car lease deals better than a good down payment. It also allows you to take a big chunk off your loan before it starts to build interest.