Here are some tips to help you on your auto loan/car buying hunt, but remember that your personal finance guide is always there to help too. They can answer any additional questions you have.

• A good credit rating obliterates all other financial weapons. With a good credit score, you can bring lenders to their knees. Good credit should be the kryptonite of extra fees. With a good credit score, you should be able to get low interest rates, if not take advantage of rebates and 0%APR. Rebates are when you get money back or money off for buying the car. 0% APR gives you the opportunity to have no interest payments for a time ranging from 12-36 months. Sweet.
• Negotiate, even if it’s awkward. Americans are distinctly unused to negotiating. Prices are set. Money is paid. The point though is that the car dealers have wiggle room, and they would not sell you the car if they weren’t making money. There is no reason for car dealers to get offended for you asking for a lower price, and there is no reason for lenders to get high strung just because you might want a lower interest rate. They can just tell you no, chum. Don’t let them make you feel bad about asking for a lower price because the truth is you can always spend your money elsewhere.
• Math it. Car dealers offer all kinds of deals to get you to buy. They have student discounts and holiday sales like Memorial Day. Take advantage of them to your heart’s content, but make sure that you are doing your math to get the best deal possible. Beware of deals that appear overly appealing. Take advantage of them, but do the long term math to figure ending price tags. For example, if you can take a rebate offer or a low interest offer, see which one you come out best in. Connect with your personal finance guide for more help.
• When additional dealer markups look in the mirror, it cracks. Additional dealer markups, things like extended warranties or VIN etching, can add extra costs unnecessarily. First of all, something like rust proofing is often included when a car is made, and second, these often expensive prices are generally negotiable. Don’t let them pretend like it is written in stone because as far as VIN etching, you could probably get it done for a lot cheaper on your own.
• Do your dirty work. If you plan to trade-in your car, meaning that you are putting the price of your current car toward your new car, you want to know how much it’s worth. Take a look at websites like Edmunds or Kelly Bluebook to determine the current price. You don’t want to get cheated, and if the offer is lower than what you think the price should be, you can always just sell it yourself.
• Do a car loan quickie. Try to pay off your loan as fast as possible, so choose a shorter repayment plan if it’s possible. The quicker you pay it off, the less interest you’ll pay. Say you have $10,000 auto loan with 6%. If you pay it off in two years, you’ll have $636.94 in interest. If you pay it off in four years, you’d pay $1,272.83 on top of that $10,000 for the car. Seriously, who really wants to pay more interest?
• Get into the mind of your interest rate. Keep in mind that a lot of factors come into play when your lender is figuring out your interest rate. Mostly it is your credit score, but your car’s age and type also plays a major role.
• Online banks need lovin’ too. Online banks are the new kids on the block. Of course, all those other sources for loans are good places to go, but online banks in recent years have been known to give amazingly good interest rates. Now, don’t just go throwing your information around willy nilly, but certainly take legitimate online banks into consideration for your online banking needs.
• You can buy in your underwear. You can also buy cars online. There are plenty of sites that offer online buying, that were made to allow people to buy online. Everything from eBay to CarsDirect can get you a car fast. Online shopping can give you more car options than your local car dealer possibly could, and it gives you an easy way to look at several prices.
• Vehicle history report websites can point out things the dealer conveniently left out. If you are getting a used car, much like your partner, you want to know where it’s been! If that car has been smashed to pieces four times and they just keep rebuilding it like legos, you want to know that. Websites like Autocheck and Carfax can tell you what has happened to your prospective car in the past and keep you from paying mad maintenance fees in the future.

• Are you down with down payments? Keep in mind that a good down payment can eliminate some cost, mostly because you aren’t paying interest on it and it usually decreases your term of payment, the length of time you are making payments. Edmunds, one groovy website with a sickening amount of information on all things cars, suggests putting down 20% of the total cost as your down payment.  Nada Guides is also a good resource for all things car.
• Your credit report is not a credit card. Do not let all kinds of people check your credit report because it makes your credit score decrease. If you want to get interest rates from dealers or lenders, go get your credit report yourself for free at annualcreditreport.com, or even ask one dealer to make a copy for you. They should be able to give you a range when you show it to them. Also, if you are paying the total amount for the car (cash), there should be no reason that they need to run your credit report. They will sell you the car without it.
• Try the end of the month. When buying a car, buying at the end of the month could get you better prices. Many salesmen are trying to get in a few extra cars to hit their quotas and that added pressure can get you some good deals.
• Don’t forget about the switching of years too. When the new car models come out, it can be much easier to get a better price on the older models.