Certified Pre Owned Pricing King of Prussia, PA

How to Get a Better Loan When Shopping for Certified Pre-Owned Pricing in King of Prussia, PA

Shopping for a new vehicle can be a lot of fun. With the right tips, you can easily get a better loan and certified pre-owned pricing in King of Prussia, PA. Before getting out and enjoying your test drives, consider a few tips to get the best interest rate and loan available. 

Get a Handle on Your Credit

Before you go to the dealership, you should have an idea of what your credit score is. You can access it from a range of different sites offering free reports. In as little as 30 days, you can make minor repairs. A report that has small bills you haven’t paid drags your score down, but it also offers the opportunity to clear a bill or two and raise your score. Once you start shopping in King of Prussia, PA, keep your credit checks to a minimum and try to finish applying for loans within two weeks. This is because the more often you apply for a loan, the greater the chance your score will drop.

Look at More Than the Payment

In order to get the best loan, you have to consider more than just the sum total you pay every month. You need to know the value of the car and compare it to outside experts such as Kelley Blue Book to ensure they are comparable. You also want to look at the interest rate and work to negotiate the best available offer in relation to your credit score. This can save you thousands over the life of the loan. The final piece of advice to consider is the length of the loan. The longer you pay on the initial loan in King of Prussia, PA, the more interest will cost you. 

Understand What Lenders Look At

When you shop certified pre-owned pricing in King of Prussia, PA, lenders look at your credit score, but they care about more than just that. Your lender wants to see specific factors such as your debt-to-income and payment-to-income ratios. Another factor that is important is the amount of money you can use for a down payment. Lenders consider if you can make the monthly payment or not. Lenders also consider the value of the vehicle compared to the actual loan you take out. These factors play a role in the interest rate you get. 

To get one of the best loans available, stop by Sloane Automotive Group in King of Prussia, PA. Our team of experts will happily guide you through the many certified pre-owned vehicles we have available. 

Categories: Pre-Owned Inventory

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