With the poor economy there are plenty of great deals to grab, especially if you are looking for a new car. The fact is that dealers are desperate for your business and many local ones in Chicago are giving you great prices on brand new cars. A new car would surely be something to enjoy especially as summer gets closer and closer but you need to be careful and make sure you get a good deal.
Before you even open a newspaper, a magazine, or go online to find the car you want you need to have a few things prepared. First you need to make sure you are saving up for a while so you can put a down payment on the loan. No matter how great a deal they will offer you put money down on the car it will save you in the long run. Finally you need to have a good credit score. You can still get a loan approved even if you have a low number but it will cost you. The average person pays $ 100 a month more on their loan payments because they have a low score. That means the new vehicle will cost you between $ 5,000 and $ 10,000 more by the time you pay it off because you have a low number. Along with that your insurance rate can go up as much as 60%. When you are financing a car many insurance companies demand you have full coverage and parts of your rates are based on your score.
As you can tell it is very important that your credit is as strong as possible even with such great deals on vehicles available. If you want to strengthen your score and need to do it quickly you can hire a credit repair company. These companies are great because they handle the entire process for you. Credit repair is the fastest and most effective way to fix your number and it is very affordable.