Don't let your local dealership take advantage of you on your next car loan.

July 9, 2010 - PRLog -- If you have recently purchased a new or used vehicle through your local dealership, you probably have meet your local "business manager" in the so called "business office". The business office in a dealership is the absolute last line of attack in an effort to make a little more money from you as a customer. Unknown to many, the business office products can sometimes more profitable than selling a vehicle all together. Imagine you have just purchased a brand new Honda in your local Honda dealer; you probably have to sign the "bill of sale" before leaving the premises. If you are leasing or financing the new vehicle you are purchasing, you probably have filled out a credit application already. You maybe purchasing the vehicle due to its financing interest rate only to find out you don't qualify for the 0.9% interest rate. The typical approach to the business office is to delay your credit application submission process in an effort to make you the customer more edgy and desperate. After few business days of waiting, you may just give up for a normal car loan and just settled with a higher interest rate loan just because you need the vehicle right away.

Some dealers may increase your APR, or interest rate on your loan just because it maybe more profitable to the dealership to "sell" the higher interest loans. The loan company usually pays for the sale of its "product" and the profit to the dealership can range from few hundred to few thousand dollars. It is always a good idea to pull your own credit score before walking into the dealership. Don't let the business manager of your dealership tells you have bad credit score, know your facts before hand and don't be fooled into taking a higher interest rate loan just because some one "said" so.

Some times the business manager would like to offer you products such as "extended warranty" or "loan insurance” don't be fooled by the excuse of "you will not be approved without it". These intangible products usually cost thousands of dollars, yet they don't offer you any real value. Just try to claim something such as lost of income, paint protection, or rust. The service department of the dealership will most likely ignore you or flat out lie to you about the "inspection" they have just performed. So the next time you walk into a dealership try to stay away from these unexpected expenses and keep your real cost of the vehicle as low as possible.

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