Follow these tips to increase the chances of getting the best auto financing option for your car purchase. \u00a0As mentioned above, getting the best financing is only part of the equation, you should negotiate for the lowest\u00a0purchase price. \u00a0Doing your research, calculations and negotiating can save you thousands of dollars.\r\n\r\nConsider these tips on your next auto purchase:\r\n\r\n \tAssess your budget. \u00a0Review your budget and calculate how much you can afford. \u00a0This will help you set the guidelines for a better informed financial decision.\r\n \tCheck your credit report. \u00a0Make improvements by fixing incorrect information, disputing inaccuracies and paying off existing debt and settling any collection accounts. \u00a0Know your credit score and where you fall within the credit score range.\r\n \tGet an auto loan pre-approval. \u00a0Reach out to your bank and credit union and apply for approval. \u00a0This will help you determine how much financing is available but not necessarily needed. \u00a0A sizable downpayment can help you negotiate a lower interest or better terms.\r\n \tDetermine your car requirements. \u00a0What do you need and want? Know which car is right for you.\r\n \tShop for the best deal. \u00a0The amount you pay for a car is based on the price you're paying. \u00a0The lower a price the overall lower total cost for the car.\r\n \tConsider new or used, buying or leasing and down payment amount. \u00a0Do the math to figure out which option is actually best for your situation. \u00a0The goal isn't to spend money on a car but rather buying the car at the lowest total cost.\r\n \tKnow your legal responsibilities and consumer rights. \u00a0It's important you understand the laws around car ownership in your state and consumer rights with regards to your car purchase.\r\n\r\nWhen making a car purchase always think about your long term situation. \u00a0The satisfaction you feel driving off the dealership lot is powerful but making a poor financial decision will have a long-lasting impact. \u00a0The cost of the car and financing charges are only part of the true cost of car ownership. \u00a0There are ongoing costs such as annual registrations, gas fill-ups, maintenance costs such as tune-ups and car washes, and insurance payments.