LendingTree.com Provides the Top Ways to Save on a Car

Charlotte, N.C., (PRWeb) March 29, 2007 -- Getting ready to purchase a car? A little planning and know-how can help you find savings when you shop.

Here are some tips, brought to you by LendingTree.com, to make sure you save money on your new (or new-to-you) car.

Check your credit report - Your credit score is a major factor in determining what interest rate you get on an auto loan. The first thing to do is to get a copy of your credit report and look for any inaccuracies or mistakes. If you do find a mistake, you can dispute the inaccurate information free of charge. A lower credit score will increase your interest rate and the total amount you spend for a car, which could also increase your monthly payment.

Do your homework - Before you head to the dealership, check the Internet. Know in advance what make, model and year car you are interested in. Many dealerships offer an online search of their inventory so you'll know what cars they have on the lot before you get there. Sometimes they even post special deals. It's also a good idea to research current interest rates and loan terms (how many months you'll be paying on the loan). Using that information, you can calculate how much monthly payment you can afford before you even set foot on the dealership lot.

It's all about timing - If you don't need a car right away, consider waiting until late summer or early fall to shop, just prior to the next model year arrives on the lots. Dealers anxious to move inventory to make space will often sell this year's models at a discount. If your need is more urgent, wait until the end of the month, or even the end of the week, when the dealer may be trying to reach its sales quotas.

Bargain smart - A common tactic of car salesmen is to figure out what monthly payment you can afford before quoting you a price. This tactic may get you into that new car you thought was beyond your means, but it ignores the true cost to own the car: factors like interest rate and loan term (making payments for five years vs two or three). If you're buying a new car, it's a good idea to research the invoice price - the price the dealership pays the manufacturer for a new car. If you're buying a previously owned car, check the Blue Book value. In both cases you'll know how much room you have to bargain with the dealer. Also, be prepared to walk away if the salesman (or woman) won't give you what you want.

Consider buying previously owned/new-to-you - A new car can lose up to 20% of its value the minute you drive it off the lot. Forgo the new car smell and get a nearly new car instead. If you go for a car that's older than five years or has more than 60,000 miles on the odometer, be sure and get the maintenance history, so you don't get hit with big bills for major repairs and parts.

About LendingTree, LLC
LendingTree, LLC is the nation's number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via Lendingtree.com and 800-555-TREE.

Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.comsm, Domania®, and iNest Realty, Inc.

###

Related Articles:

1968 GTO - My Favorite Car
While on a roadtrip last Sunday, I saw two caravans of classic cars. They were all dolled up - looking better than they had in the showroom.

Car Cleaning Products - Tips To Keep Your Car Sparkling.
Since we live in a world where cleanliness is becoming of great importance, we do our best to keep our possessions in sanitary & pristine order. Whether it's our house or our prized vehicles, we want these things to stay nice and well maintained. Most of us tend to take better care of our vehicles than we do ourselves! As odd as that may sound, it could be due to the innumerable car cleaning products at our disposal. Whatever your polishing requirements are, you will definitely find a quality car cleaning product that will do the job for you.

Save Thousands on Any New Car by Using the Internet
Failure to do your homework will prove costly when you purchase your next new vehicle. The internet makes all of the essential information accessible for free, so fire up your computer and get ready to save money.

Car Maintenance Information You Should Follow
When you buy a vehicle you receive certain instructions regarding maintenance that are recommended by the manufacturer. However, with your busy schedule and the increased cost of car maintenance you frequently put off tire and oil changes, checking under the hood, and other similar regular maintenance necessities. Unfortunately, if you put off car maintenance due to schedule and budget you are risking a bigger inconvenience to your schedule and budget by having your car breakdown. Consider the following maintenance tips to help you keep your car in tip top condition.

Bank Car Financing vs. Car Dealership
Bank Car Financing vs. Car Dealership

Tata Nano - Worlds Cheapest Car
If ever the history of cars be rewritten, then Indias leading auto maker and an industrial giant Tatas Nano will be firmly etched in golden words as a car that became a dreamers dream come true.

Car Leasing - Getting Out is Not as Easy as Getting In
Most car leases are designed to completed according to the end-date specified in the lease agreement. Attempting to end a lease early can often be troublesome and expensive.

Free Car Washes and Customer Service for Mobile Detailers
A free car wash is a great tool to win happy customers and influence new business. It is also a guarantee to customers that if they are not 100% satisfied they will get a free car wash.

Car Insurance Discount
There are many benefits to possessing a car, apart from the primary one of transportation. You value your car not just ease of conveyance but the esteem that is attached to it. You can get carried away by their high speed and eye-catching features. It is seen that many of us do not take proper care of our cars. I can tell you that not all of you can depend on Xzibit and his group of MTV/VH1 sponsored garage professionals to transform your shabby car into a hot-rod overnight.

Car Insurance Megastore Nominated for 2007 Insurance Awards for the Most Comprehensive Car Insurance Quotes Comparison Site
The Wolverhampton-based online car insurance quotes specialist 'The Car Insurance Megastore' has been nominated for the '2007 Insurance awards' by Open GI, the largest insurance software company in Europe. The Car Insurance Megastore have been used to pioneer their revolutionary software 'Oasys Motowriter' which searches over 300 UK insurance policies and schemes for the cheapest online car insurance quotes. With new policies and schemes added regularly allowing The Car Insurance Megastore to stay ahead of the competition.