Many small business owners need a new vehicle to run their day-to-day operations. Here are some helpful car-buying tips. 

Clarice Rogers, a Branch Manager for Financial Health Federal Credit Union, says there are some important things to consider when getting a car loan. One of the most important is getting pre-approved for a car loan at a financial institution. This piece of advice is one of the first she gives to her customers. “We like to get them pre-approved.”    

Rogers says getting pre-approved for a loan helps you walk onto a car lot with more leverage over the dealer and salespeople.  She says it’s good to go on a lot knowing what you have to spend. “You know what you have to work with.”

Rogers says she walks her customers through every step of the car-buying process before they visit a dealership to make a purchase. This includes advising her customers that it’s okay to walk away from a deal if a salesman is being too pushy or demands they use the dealership’s preferred method of financing instead of their pre-approved loan. “Let them know you can go somewhere else.”

In addition, Rogers also says it’s important to know your credit score and how it might impact your interest rate and your ability to purchase the right car for your small business.