There's a reason why the phrase "used car salesman"
conjures up certain images - and that reason doesn't
completely revolve around engines and transmissions.

Car salesmen are masters at getting people financed to
purchase - one way or another. The trouble is, the way
might not be a benefit to you, even while they claim it is.

So, be prepared. Before you even consider visiting a car
lot, get your credit report and check your scores. If they
need some improvement, take the necessary steps, because
the better your credit scores, the better interest rate
you'll get on that car.

Don't wait for the dealer to check. For one thing, if the
score tells you there's going to be a delay, that inquiry
will harm it further. Secondly, not all dealers will tell
you the truth about your score. Remember, the higher the
interest you'll pay, the bigger their income.

OK, now you know your score and you've decided it's high
enough for you to go forward. Write down these questions
and make sure they're all answered to your satisfaction
before you sign anything. Remember, if it isn't in writing,
and signed, it doesn't mean a thing.

How much does this car cost - including taxes, license,
dealer prep - everything? How much am I getting for a
trade-in value? How much down payment must I have? How much
will I be financing after trade in and down payment? Are
there other fees, such as credit insurance? What Annual
percentage rate will I be paying? How many payments will
there be? What's the exact amount of those payments? What's
the total cost of credit? Include interest, fees, etc.

And last but most definitely not least: Is this the final
deal? When I drive off your lot, are we finished?

That last question seems odd, but it's an important one,
because this is the spot where unethical dealers pull the
"bait and switch."

They'll send you home with a car, give you 2 or 3 days to
fall in love with it, and then call with the bad news: The
lender refused the deal. But it's OK - don't panic. Your
salesperson has made a heroic effort and found another
lender who will approve the loan.

Of course, the interest will be slightly higher, and you'll
have to pay a small fee, but hey! You've got your car!

Don't fall for this. Unless the dealer can show you who the
lender is, and unless you can see documentation that
they've approved the loan - tell them you'll be back after
the financing is approved and the transaction is final.
They can call you when it's ready.