- Read the ad carefully when considering an advertised special.
- Call or visit the dealer to find out about all the terms and conditions of the offer.
- Ask if the financing requires a larger-than-usual down payment.
- Find out if there are limits on the length of the loan.
- Ask if the low rate applies to all cars. Ask if the offer applies only to certain models.
- Read your invoice and the installment contract carefully.
Reading Between the Lines
Many new car dealers advertise unusually low interest rates and other special promotions. Ads promising high trade-in allowances and free or low-cost options may help you shop, but finding the best deal requires careful comparisons.
Many factors determine whether a special offer provides genuine savings. The interest rate, for example, is only part of the car dealer’s financing package. Terms like the size of the down payment also affect the total financing cost.