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Tips for Getting the Best Car Loans in Washington, DC

July 23, 2019  

Tips for Getting the Best Car Loans in Washington, DC

Are you looking for a dealer that can give you outstanding car loans in Washington, DC? CarSmart strives to be a one-stop-shop for your needs. Whether you have good credit, bad credit, or no credit, we strive to provide you with excellent choices so you can drive off the lot happy.

Regardless of your credit, it’s smart to do your research and be prepared before you go in for an auto loan. Here are just a few helpful pointers, so you get the most out of your auto financing:

Know your credit score

Getting auto financing isn’t like getting your mortgage. Even if you have bad credit, you can still get a good car loan. The only issue is that the interest rate may be much higher if you have little to no credit. Prices go down significantly once you get over 650 or 700 on your credit score. Before you go shopping for your next car, see what you can do to work on your credit. If there are erroneous statements on your credit report that might be negatively impacting your credit, be sure to make the proper phone calls to get those taken care of right away.

Keep your loan term short

While a shorter-term loan can mean you pay more monthly, the interest payments can save you a significant amount in the long-term. Paying your loan off faster means less interest over time. It may be tempting to stretch out your auto financing payments for as much as five years or even longer, be sure to do the math and think about the interest rate and how much extra you would be paying on top of the vehicle’s value.

Put as much into the down payment as possible

One of the best things that you can do when you purchase a new or used vehicle is put down at least 20% of the total price as a down payment. The more you put down, the more you can take off of your initial loan. This not only makes your monthly payments cheaper, but it can even affect how high your interest rate is. If you can put down 20% or more on your vehicle, you can save a significant amount in the long term.

If you need car loans in Washington, DC that offer flexible terms in fair interest rates, you can count on CarSmart to bring you just that and so much more. To learn more about what we have currently on the lot, or ask about our financing options, stop by the dealership or call our team today at (888) 292-8115.

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My experience was AMAZING! Da’antes customer service was unmatched! I totally appreciate everything went well thank you for assisting me with my purchase

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My daughter got her car from here so I wouldn’t get a car from them they ok if you don’t have credit they are nice people so if anyone looking to buy go there for building up credit

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The best car buying experience...when everyone said no they made it happen

I had the best and easiest experience today at Carsmart. Ismail and Daunte helped me get in a 2021 vehicle even with my repossession. These guys go the distance to get you in a car!! My son and his fiance came and they got a car too!! Come out to Carsmart, you'll be happy you did!!

Just wanted to say I am very pleased with the service I got today from MR. Haseeb & ismail & Daunte & Raeshawn they did everything in their power to help me leave today with my brand new 2021 Chevy trax. Couldn’t be any happier I will definitely recommend anyone to come to these awesome people thank you so much

Awesome service, everything was fast a east. I definitely recommend the service. S/o to D'aunte

The service at Carsmart is top notch. Even though I came in with not all my ducks in a row they got me out the door with a car that me and my spouse are happy with. And a special thanks to Raeshawn for all her help with the car buying process and my kids who ran her up a wall.