I bought my first new Chrysler in 1997 and replaced it in 2009 with the newer model that ended up costing me about the same as the old car had.
Several things helped me to do that, including a couple incentives from the manufacturer. But I also helped myself.
Because of my good credit history, I didn’t have to pay interest on the financing I needed to cover the rest of the car’s cost after my down payment was applied.
When I bought the first car, I got a 66-month loan. I don’t remember the exact interest rate any more, but it wasn’t cheap. When I was shopping for the second car, the manufacturer was offering lower and even zero percent financing for qualified customers. My credit record was good enough that I qualified for the best deal. So this time I had a 48-month loan and didn’t have to pay any interest on it.
So it’s definitely worth it in many ways to keep your credit good.
What tips do you have to share for people looking to get a good deal on a car? E-mail them to firstname.lastname@example.org.