Once you have found a great deal on used cars, you may think the hard part is over. It isn’t, unless you have the cash to pay for the vehicle. Most people need to finance a pre-owned vehicle, so more than likely you will have to deal with the finance department next.

Financing a major purchase can be tricky. Used car dealers make money on financing, so you have to be careful that you are set up with the best finance deal that you qualify for. Make sure you know what your credit is like before you start shopping. If you have poor, or even average credit, you probably will not qualify for the advertised finance rate. There is usually some small print that says “reserved for well qualified applicant”.

Sometimes the finance rate depends on how much of a down payment you make. Zero down payment options never benefit the car buyer. Put as much as possible down. The less you finance, the less you pay over the life of the loan.

If you find yourself with loan payments that you cannot handle, call the finance department as soon as possible. They may be able to lower your payments. You will pay for this, but it is better than having your car repossessed and ruining your credit. Honesty is always the best policy.