{"id":46026,"date":"2022-09-05T08:42:58","date_gmt":"2022-09-05T08:42:58","guid":{"rendered":" https:\/\/dev.way.com\/blog\/?p=46026"},"modified":"2022-09-05T08:42:58","modified_gmt":"2022-09-05T08:42:58","slug":"financing-a-car","status":"publish","type":"post","link":"https:\/\/dev.way.com\/journal\/financing-a-car\/","title":{"rendered":"Is Financing a Car a Scam? Do You Really Need It? Read to Know!"},"content":{"rendered":"<p style=\"text-align: center;\"><em>So, you&#8217;ve decided to purchase your dream car. Let&#8217;s say you&#8217;ve negotiated for the best deal and eventually agreed on a price you can live with \u2014 is it time to let out a sigh of relief? Actually, no. This is exactly when you should be thinking about financing your car.\u00a0<\/em><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #e71346;color:#e71346\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #e71346;color:#e71346\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#What_does_it_mean_by_financing_a_car\" >What does it mean by financing a car?\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Purchase_price_and_fees\" >Purchase price and fees<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Down_payment\" >Down payment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Annual_Percentage_Rate_APR_And_Interest_rates\" >Annual Percentage Rate (APR) And Interest rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Financing_term_length\" >Financing term length<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#How_does_car_financing_work\" >How does car financing work?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Who_offers_car_financing\" >Who offers car financing?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#What_credit_score_do_I_need_to_finance_a_car\" >What credit score do I need to finance a car?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Alternative_ways_to_auto_finance\" >Alternative ways to auto finance\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Leasing_a_car\" >Leasing a car<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Peer-to-peer_lending\" >Peer-to-peer lending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Paying_cash\" >Paying cash<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Tips_for_financing_a_car\" >Tips for financing a car\u00a0<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Figure_out_how_much_you_can_pay_ahead_of_time\" >Figure out how much you can pay ahead of time\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Check_your_credit_rating\" >Check your credit rating\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Cut_down_on_finance_costs\" >Cut down on finance costs\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Compare_car_financing_offers\" >Compare car financing offers\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Prequalify_for_a_car_loan\" >Prequalify for a car loan\u00a0\u00a0\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Getting_pre-approved_for_a_car_loan_gives_you_negotiating_power\" >Getting pre-approved for a car loan gives you negotiating power\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Avoid_%E2%80%9CBuy_Here_Pay_Here%E2%80%9D_dealerships\" >Avoid &#8220;Buy Here, Pay Here&#8221; dealerships\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Is_it_a_good_idea_to_finance_a_car\" >Is it a good idea to finance a car?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#When_financing_a_car_who_has_the_title\" >When financing a car, who has the title?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Does_financing_a_car_build_credit\" >Does financing a car build credit?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/#Conclusion\" >Conclusion\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_does_it_mean_by_financing_a_car\"><\/span><span data-contrast=\"none\">What does it mean by financing a car?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">Financing a car means getting a loan to pay the cost of the car upfront. Then, you have to pay back that loan every month until it&#8217;s paid off completely. Here are a set of things to keep in mind when applying for a car loan:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37194\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1.jpg\" alt=\"financing a car\" width=\"607\" height=\"456\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1.jpg 774w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1-300x225.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1-768x576.jpg 768w\" sizes=\"auto, (max-width: 607px) 100vw, 607px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Purchase_price_and_fees\"><\/span><span data-contrast=\"none\"><strong>Purchase price and fees<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">The agreed-upon price of the car is the purchase price. Most of the time, a dealer sets the price, but it can be negotiated. In addition to this price, you will also have to pay taxes and other fees, which will vary by state and car dealership. All of these add up to the price of the car as a whole.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Down_payment\"><\/span><span data-contrast=\"none\"><strong>Down payment<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Most auto loans won&#8217;t cover the full cost of your car, so you&#8217;ll need to pay a down payment. Usually, the down payment is equal to 20% of the total cost of the car. The less you need to borrow to buy a car; the bigger your down payment should be. Since you will be charged interest on the rest, the more you can pay as a down payment, the better.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Annual_Percentage_Rate_APR_And_Interest_rates\"><\/span><span data-contrast=\"none\"><strong>Annual Percentage Rate (APR) And Interest rates<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">\u00a0The annual percentage rate (APR) and the interest rate show how much it costs to borrow money from a finance company. There are two different ways to pay for a car. The interest rate is how much it will cost to borrow the money for the loan if there are no other fees. Since fees are part of the APR, it is a little bit higher. Most reputable lenders will show the APR on their websites, which includes interest and fees.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Financing_term_length\"><\/span><span data-contrast=\"none\"><strong>Financing term length<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Your financing term is how long it will take to pay off your auto loan if you make all your monthly payments on time. The longer the term of your loan, the more you will pay in the end. This is because interest will keep increasing if you take longer to pay the loan. So, try to repay your loan as soon as you can.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_does_car_financing_work\"><\/span><span data-contrast=\"none\">How does car financing work?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">To get a loan for a car, you have to fill out a credit application with information like your Social Security number and how much money you make. Then, the lender will let you know if you are approved and, if you are, will tell you about your interest rate and loan terms.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">After the sale is finalized, you set up payments through your bank to pay back the lender throughout the loan. For example, when you finance a car, you get the money you need to buy it from a dealership. In return, you pay the lender interest and fees over several months.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Your monthly car loan payment is based on your loan amount (the price of the car minus any down payment and trade-in), your annual percentage rate (APR), and the length of your loan. The APR is very crucial when you plan to take an auto loan. It changes how much you&#8217;ll have to pay for the car. Your interest rate is dependent on many things, such as your credit score, loan length, and your choice of getting a new or used car.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Once you&#8217;ve paid the loan in full, your lender will send a lien release document to the state transportation agency. This depends on the state laws. The title of the car will then be changed and given to you.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who_offers_car_financing\"><\/span><span data-contrast=\"none\">Who offers car financing?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">Banks, online lenders, finance companies, credit unions, and even some car dealerships offer car loans. Financing via\u00a0a credit union or bank may be cheaper than getting a loan through a dealership. This is because dealers may raise interest rates to compensate for the time they spent setting up your loan.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Some dealerships even offer their financing. Car dealerships that offer in-house financing or &#8220;buy-here, pay-here&#8221; financing may charge much higher interest rates than other lenders.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_credit_score_do_I_need_to_finance_a_car\"><\/span><span data-contrast=\"none\">What credit score do I need to finance a car?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">According to <a href=\"https:\/\/www.experian.com\/\" target=\"_blank\" rel=\"noopener\">Experian<\/a>&#8216;s Quarter one 2022 State of the Auto Finance Market, 62% of borrowers had credit scores of 601 or above, and just under 20% had scores of 500 or below. Borrowers had scores all over the board, but their interest rates differed.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<table data-tablestyle=\"MsoTableGrid\" data-tablelook=\"1696\" aria-rowcount=\"6\">\n<tbody>\n<tr aria-rowindex=\"1\">\n<td data-celllook=\"69905\"><span data-contrast=\"none\">Credit Score<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:315}\">\u00a0<\/span><\/td>\n<td data-celllook=\"69905\"><span data-contrast=\"none\">Average New Car APR<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:315}\">\u00a0<\/span><\/td>\n<td data-celllook=\"69905\"><span data-contrast=\"none\">Average Used Car APR<\/span><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:315}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"2\">\n<td data-celllook=\"4369\"><span data-contrast=\"none\">781 to 850<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">2.40%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">3.71%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"3\">\n<td data-celllook=\"4369\"><span data-contrast=\"none\">661 to 780<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">3.56%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">5.58%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"4\">\n<td data-celllook=\"4369\"><span data-contrast=\"none\">601 to 660<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">6.70%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">10.48%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"5\">\n<td data-celllook=\"4369\"><span data-contrast=\"none\">501 to 600<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">10.87%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">17.29%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr aria-rowindex=\"6\">\n<td data-celllook=\"4369\"><span data-contrast=\"none\">300 to 500<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">14.76%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<td data-celllook=\"4369\"><span data-contrast=\"none\">20.99%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559740&quot;:259}\">\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Alternative_ways_to_auto_finance\"><\/span><span data-contrast=\"none\">Alternative ways to auto finance<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Leasing_a_car\"><\/span><span data-contrast=\"none\">Leasing a car<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">If you<a href=\" https:\/\/dev.way.com\/blog\/buying-vs-leasing-a-car\/\" target=\"_blank\" rel=\"noopener\"> lease a car<\/a>, you will pay a monthly fee that is comparatively less than what you would pay for an auto loan. But when the lease is up, you must return the car and be charged for any extra damage. If\u00a0you consider buying the car at the end of a lease, a lease buyout is an option.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Peer-to-peer_lending\"><\/span><span data-contrast=\"none\">Peer-to-peer lending <\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">You could ask a person for a loan instead of a loan company. Someone you know may be able to lend you money at a better rate than auto lenders (or with no interest at all).<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Paying_cash\"><\/span><span data-contrast=\"none\">Paying cash<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">If you can avoid making a monthly car payment, it&#8217;s best to pay cash for the car. Cash payments are the most cost-effective way to buy a car in the long run, but most people don&#8217;t have enough money to do this.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37203\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/03\/Refinance-a-car-lease.jpg\" alt=\"financing a car\" width=\"592\" height=\"395\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Refinance-a-car-lease.jpg 960w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Refinance-a-car-lease-300x200.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Refinance-a-car-lease-768x512.jpg 768w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Refinance-a-car-lease-600x400.jpg 600w\" sizes=\"auto, (max-width: 592px) 100vw, 592px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tips_for_financing_a_car\"><\/span><span data-contrast=\"none\">Tips for financing a car<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Figure_out_how_much_you_can_pay_ahead_of_time\"><\/span><span data-contrast=\"none\">Figure out how much you can pay ahead of time<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Know how much you can afford to finance before deciding which car to buy. Then, consider how much you can afford to pay each month and work backward.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Cars lose value over time, so if you take out a loan you can&#8217;t pay back, you&#8217;ll soon be in debt. After a few years, it&#8217;s not unusual for a car&#8217;s value to be less than how much you still owe on a loan.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Check_your_credit_rating\"><\/span><span data-contrast=\"none\">Check your credit rating<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Most of your interest rate is based on your credit score. At least once a year, you can get a free copy of your credit report.\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">If case of bad credit, you might need an auto loan for people with bad credit. If your credit score is low, having a cosigner with good credit can help you get a better APR.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cut_down_on_finance_costs\"><\/span><span data-contrast=\"none\">Cut down on finance costs<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">You should focus on paying as little as possible on top of the cost of the car. This means you should look for a loan with a low APR and a short payment term.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Also, try to lower the amount you have to borrow by putting down as much money as possible. The standard down payment is 20%, but if you can pay more upfront, you will pay less in the long run.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Compare_car_financing_offers\"><\/span><span data-contrast=\"none\">Compare car financing offers<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Before you go to the dealership, it&#8217;s a good idea to look at different auto loan offers. When doing this, ensure you only ask for loan offers from lenders who offer pre-qualification without a hard credit check.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Your credit score will steep down if you agree to a hard credit check, so don&#8217;t do one unless you are ready to close on a loan offer.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Prequalify_for_a_car_loan\"><\/span><span data-contrast=\"none\">Prequalify for a car loan\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Once you&#8217;ve decided where your loan will come from, look for lenders who offer pre-qualification. This means that the lender does a soft check of your credit report, which doesn&#8217;t show up on your credit report as a credit inquiry.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Most pre-qualifications are good for 30 to 45 days, which gives you time to compare different lenders and shop around. After that, most pre-qualifications are correct, but if a lender pulls your full credit report, they may turn down your application.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Getting_pre-approved_for_a_car_loan_gives_you_negotiating_power\"><\/span><span data-contrast=\"none\">Getting pre-approved for a car loan gives you negotiating power<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">There is a benefit to getting a loan before going to a dealership to pick out a car. After a\u00a0full credit application and loan approval, you can get pre-approval from an online lender. In a pre-approval letter from a lender, the exact amount you&#8217;re approved for will be written out.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">When you go shopping, you can take this letter to a dealership. It can help you get a better deal because the dealer will know you can finance up to that amount. Your credit won&#8217;t have to be checked by the dealer. As a buyer, you have more negotiating power because it&#8217;s easier for them, and they know you&#8217;re serious.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Avoid_%E2%80%9CBuy_Here_Pay_Here%E2%80%9D_dealerships\"><\/span><span data-contrast=\"none\">Avoid &#8220;Buy Here, Pay Here&#8221; dealerships<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-contrast=\"none\">Buy here, pay here (BHPH) dealerships are places where you can buy a car and get a loan on the spot. In addition, BHPH dealers offer credit, which is different from regular dealers, who connect customers with separate lenders.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">At first, this might look like a good deal. You can choose a car and get financing at the same place, and many Buy Here Pay Here (BHPH) dealers work with people who have bad credit or no credit. But we think you should avoid these dealers.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">If you use a &#8220;buy here, pay here&#8221; dealer, you can expect to pay the highest interest rate in your state. This is because these dealerships don&#8217;t work with many people with good credit, and those who borrow from them are more likely to miss payments or not pay. This makes the rates go up for everyone who borrows from the dealer.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_it_a_good_idea_to_finance_a_car\"><\/span><span data-contrast=\"none\">Is it a good idea to finance a car?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">If you don&#8217;t have enough cash on hand to pay for a car in full, financing it might be a good idea. You should have enough money to buy a new car without taking out a loan.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Unless your annual percentage rate (APR) is 0%, which is rare, buying a car with cash is cheaper in the long run. Of course, many people can&#8217;t or won&#8217;t be able to do this. Financing may be the only way to buy a car if you need one quickly and don&#8217;t have enough money. Consider buying a car with a loan if: <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">When you are in need of a car but don&#8217;t have enough cash to pay for it in full.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">You want a car but can&#8217;t pay for it all at once. You can plan for the monthly cost of your payments, though.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p>Read : <a href=\" https:\/\/dev.way.com\/blog\/what-is-the-best-way-to-finance-a-car\/\" target=\"_blank\" rel=\"noopener\">What Is The Best Way To Finance A Car?<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"When_financing_a_car_who_has_the_title\"><\/span><span data-contrast=\"none\">When financing a car, who has the title?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">When you get a car loan, the lienholder or lender is the person who holds the title to your car. For a purchase loan, you won&#8217;t own your car until the end of the loan term. Leasing a car means you never get ownership of it. Instead, the dealership where you bought it keeps the title.<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">Read : <a href=\" https:\/\/dev.way.com\/blog\/what-happens-to-a-vehicle-when-the-owner-dies\/\" target=\"_blank\" rel=\"noopener\">What Happens to a Vehicle When the Owner Dies?<\/a><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Does_financing_a_car_build_credit\"><\/span><span data-contrast=\"none\">Does financing a car build credit?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">If you pay back an auto loan on time, it will help your credit score. Your credit score boots\u00a0up as you meet all of the factors that go into it, like making payments on time, having a long credit history, getting new credit, and having a mix of credit.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>Read : <a href=\" https:\/\/dev.way.com\/blog\/whats-the-highest-credit-score-and-how-to-achieve-it\/\" target=\"_blank\" rel=\"noopener\">What\u2019s the Highest Credit Score and How to Achieve it?<\/a><\/p>\n<p><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/02\/REFINANCE-BANNER.png\" alt=\"financing a car\" width=\"744\" height=\"276\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span data-contrast=\"none\">Conclusion<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"none\">When you finance a car, you can buy one even if you don&#8217;t have enough money. There are various ways to pay for a car if you don&#8217;t have cash on hand, and if purchase loans don&#8217;t work for you, there are many other options. We suggest you look around and compare as many car financing options as possible to find the best deal.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><em>Here\u2019s more info on\u00a0<\/em><a title=\"https:\/\/www.way.com\/airport-parking\" href=\"https:\/\/www.way.com\/airport-parking\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link top-rated airport parking\"><em>top-rated airport parking<\/em><\/a><em>,\u00a0<\/em><a title=\"https:\/\/www.way.com\/cities\" href=\"https:\/\/www.way.com\/cities\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link the best parking spots in your city\"><em>the best parking spots in your city<\/em><\/a><em>, the most affordable\u00a0<u><a title=\"https:\/\/www.way.com\/auto-insurance\" href=\"https:\/\/www.way.com\/auto-insurance\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link auto insurance\u00a0\">auto insurance\u00a0<\/a><\/u>for your car, easy\u00a0<a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\">auto refinance<\/a>, and\u00a0<\/em><a title=\"https:\/\/www.way.com\/car-wash-near-me\" href=\"https:\/\/www.way.com\/car-wash-near-me\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Link top-rated car washes near you\"><em>top-rated car washes near you<\/em><\/a><em>.<\/em><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, you&#8217;ve decided to purchase your dream car. Let&#8217;s say you&#8217;ve negotiated for the best deal and eventually agreed on a price you can live with \u2014 is it time to let out a sigh of relief? Actually, no. This is exactly when you should be thinking about financing your car.\u00a0 What does it mean&hellip; <a class=\"more-link\" href=\"https:\/\/dev.way.com\/journal\/financing-a-car\/\">Continue reading <span class=\"screen-reader-text\">Is Financing a Car a Scam? Do You Really Need It? Read to Know!<\/span><\/a><\/p>\n","protected":false},"author":49,"featured_media":46029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1962,1855,1857],"tags":[],"class_list":["post-46026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto-refinance","category-finance","category-tips-and-trips","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.3 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is Financing a Car a Scam? Do You Really Need It? Read to Know! &#187; Way Blog<\/title>\n<meta name=\"description\" content=\"Financing a car means getting a loan to pay the cost of the car upfront. Then, you have to pay back that loan every month in installments. 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