In racing, the flag man will throw the red flag if conditions are not perfect for racing. We are also throwing a red flag to ensure that your loan conditions are perfect. Here are my flags to avoid when buying a car.
Obstacles to Avoid When Buying a Car:
A dishonest dealer may use false credit scores; know your credit history before shopping.
$0 down, 0% interest for 1-year offers may sound better than they actually are. Payments are deferred and will default to higher rate and payment once the first year has passed.
"We'll pay off your car" may sound better than it actually is. Make sure the dealer is giving you full value for your trade. An unscrupulous dealer may roll negative equity into your new loan without you even knowing it.
When signing finance papers make sure you read the fine print. If it says "subject to financing approval,” beware!
Dealerships may only pull your credit with your consent; there is no such thing as a mandatory credit check or a state law that requires it.
Don't respond to questions like "What can you afford to pay each month."
Unscrupulous dealers may tell you they "do not take online or bank checks."
The name, likeness, signature of Kevin Harvick and the Kevin Harvick, Incorporated, logo are registered trademarks and are used under license from Kevin Harvick, Incorporated.
The RoadLoans Win Kevin's Ride or [$15,000] Sweepstakes, no purchase necessary.
*See
official rules for details at
www.RoadLoansRacing.com. Financing is available with approved credit and not available in all states.
Your terms may vary. Lower payments and rates will depend on credit history and other program parameters.
