Tools for Buying a Car Camie Sims April 15, 2014 • 1 Minute Read Financial Tips Is your current vehicle starting to show its age? Was this past winter hard on it? Maybe it’s time to start looking for something new. There are many different options out there and choosing one can be really difficult. Below are some helpful tools that you can use to help make the car buying experience easier. Auto Loan Payment Calculator When purchasing a new or used vehicle, sometimes paying for the whole vehicle is not possible and you need to take out some sort of financing. An auto loan payment calculator can help give you an idea of how much your monthly payment could be. Just plug in the amount, interest rate, how long you want to finance it for and any down payment you would have. It’s easy! Credit Reports If you are looking to apply for financing, past credit history is something that will be looked upon by a lender. It’s always a good idea to check your credit report every so often to maintain a healthy overview of your finances and your credit scores. Knowing this information will give you a better idea as to the rates you could get when applying for a loan. Vehicle History Reports Vehicle history reports are another useful tool to use when searching for an automobile. These services will give a detailed report of any problems the vehicle had in the past. From service and repair information to accident history, these reports can offer very useful information on the potential vehicle. In order to receive a vehicle report, there is usually a fee involved but often car dealerships will offer the reports for free on the vehicles they sell. Vehicle Valuation Service Another useful tool to use when searching for a car is using a vehicle valuation service. This service allows you to find out the market value of the particular vehicle you are looking at. Detailed questions are asked about the vehicle and then a report is given. In calculating this report, information is pulled from thousands of recent sales of similar vehicles from across the country and additional information of the marketplace. This is then compared to your vehicle and a market value is given. Using this information can be very beneficial in negotiating a fair price for the car you are looking to purchase. Follow Us Here! #AutoLoan Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles. The information is accurate to the best of our knowledge when posted; however, all credit card information is presented without warranty. Please check the issuer’s website for the most current information.