Unless you're buying a car in cash, you'll probably work with a credit specialist to finance your new vehicle. This can be an intimidating and daunting experience for many. But it shouldn't be. Buying a car should be fun and rewarding.

We're here to take the fear away and give you confidence when dealing with credit specialists at the dealership. The first step is being informed. The second step is asking the right questions. 

Here are five questions to ask your credit specialist:

1. What is the exact price I'm paying for my car?
This seems obvious, but sometimes it's not. Make sure you know, down to the cent, how much your vehicle is costing you.

2. What is the interest rate I'm paying?
We recommend looking at the Annual Percentage Rate (APR). It's the rate you will pay yearly on the balance of the loan. 

3. Are there early payment penalties or other "extra" charges associated with my loan?
You'll want to know if there are possible charges that will occur if you pay the loan off early. 

4. How many total payments for this loan?
It's a good idea to know how many times you'll have to make a payment before the car's title is clear.

5. Does this car have credit insurance?
Sometimes a lender will include it in your offer or ask if you want to buy. If you do decide to purchase, make sure it truly offers value beyond the insurance you already have. 

Before discussing financing, commit these questions to memory. Feel free to walk away or ask the manager to put things in writing if any terms or deals sounds to good to be true or are confusing. 

If you have more questions, please contact us or post a reply in the comments below.