1.Purchase price
2.Trade-in ACV and payoff (if there is a trade)
3.Interest rate and the term of the loan (or lease)
Because there are so many components, it is easier to manipulate a buyerfocused mainly on payment. Before you go in, read Chapter 7: Financing,
to figure out the payment you want, and the dollar amount and term of theloan that will get you there.
TIP: Get pre-approved on a loan before you go shopping.At a minimum, find out your credit scores, and check online to see whatinterest rates these would get you from various lenders. This will put you in (^)
a much stronger position to negotiate. Listed competitive, online preapprovals. You can also get your credit scores here.here is a great resource for (^)
Changes in lending laws over the past few years mean that you can trymore than one lender without your credit score dropping 1-3 points
(temporarily) each time, as used to happen. I cover this in more detail in theFinancing chapter.
TIP: Beware of interest rate markups.