 TITLE: Step-by-Step Checklist for Buying a New Car CONTENT: Get Preapproved for an Auto Loan\n--------------------------------\nYou can get a car loan through the dealership, but that's not your only option for financing a new car. Getting preapproved for a loan through a third-party lender can mean a lower interest rate and could give you more negotiating power with the dealer.\n*   Shop around for auto loans from banks, credit unions and online lenders. You'll be asked to provide basic information such as your Social Security number, employment details, financial information and how much you want to borrow. Estimate a general amount based on the cost of the car you want.\n*   When comparing loans, consider:\n    *   _Annual percentage rate (APR)_: The APR includes the loan interest rate and fees, reflecting the total cost of borrowing.\n    *   _Loan term_: Short-term loans often have lower interest rates and cost less in interest overall. Longer-term loans may have lower monthly payments but will cost more in interest over time.\n*   Use the Consumer Finance Protection Bureau's Shopping Sheet to compare auto loans.\n*   When you apply for multiple car loans, do it within a 14-day period to minimize any impact on your credit score from hard inquiries into your credit report. END