Here Are Some Tips To Reduce The Interest Rate On A Car Loan

sports-car-633291_640Other than buying a home, your second largest investment will be more than likely a car, now there are a few things we would like to go over with you, that could help to save you money in the long term so that your vehicle will not end up costing you more than it needs to.

If you are buying a used car from an auto dealership, you should know that they typically increase the base interest rate by 2 and a half points on average, which could end up costing you more than seven hundred dollars.  So if you want to save some money by getting lower interest rates on your auto loan, you should first apply at your local bank or credit union to see what they have to offer as far as rates are concerned.  Then you know how good a deal you will be getting from the car dealer.  Credit unions and banks in most cases will have the lowest rates unless of course you are buying a brand new car, then the dealers will be able to give you lower rates and in some cases 0% financing.

If you are shopping for your automobile at a larger dealership and not one of those small buy here pay car lots, then you can ask the salesperson about if there are any financing incentives available to you today from the manufacturers.

And even if you do decide to get the loan from the dealership, you should still ask them if that’s the best rate they can offer you, or what are your options to get a lower rate.  Other than the price and age of the car, the other factors that affect your interest rate is the amount of your down payment and your creditworthiness.  Remember, it never hurts to ask, all they can say in no.

Other things you may consider doing is reducing the term of the loan, but if you do this, you have to understand that while the rate will be lower, the payments will increase because you have less time to pay the loan off.  But you will save a lot of money on interest with a shorter term loan.  Some lenders also give rate discounts if you set up automatic payments.

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Tips on How to Find The Best Automatic Transmission Repair Shop

Most of us hear this question all the time “How to Find Best Automatic Transmission Repair Shop in Miami?” Earlier, word of mouth was considered the best way of finding a transmission repair Miami shop that would do a good job and charge a fair price. Today, you don’t have to rely on word of mouth to find the right Miami Transmission service center. All you have to do is click your mouse or tap your touchscreen a few times.

Tips on How to Find The Best Miami Automatic Transmission Repair Shop

Here are a few tips to help you find the right shop in Miami-Dade County for your needs. However, you must understand that searching for a good transmission mechanic is not an exact science. At times, some of the best shops may disappoint you, but at least they will tilt the odds in your favor.

Online Review Site

There are several sites that contain reviews given by customers who have used the services of a transmission service mechanic. These sites give rating to the company based on the reviews it receives from actual customers. When checking the details of the service center on these sites, you must select a dealer who has received several good ratings. For example, if only one customer has given a good rating to the repair shop, it could be a misleading review. Most review sites have an algorithm that helps them to detect misleading reviews, but sometimes these reviews can slip in undetected. That is why you should not put too much stock in companies that have one or two reviews. Instead, you must read a few reviews to understand the pattern of the review. You must look for reviews that give plenty of details about the company and the experience of the customer. At times, the repair shop can respond to a review, by thanking the reviewer for a good review or apologizing for a bad review. Any reply given by the company is a sign that it cares about its business and reputation.

Search Engines

Most search engines have an enormous database that can yield hundreds of results. However, these results may require some extra filtering for them to be useful. To get useful results, you must type “Automatic Transmission Repair Shop near (your ZIP Code)” in the search box. Ignore sponsored ads that appear at the top of the page. Usually, the Miami repair shops will appear on the bottom half of the page. Most search engines have their own review system, which makes it easy to select the right mechanic.


There are several online and offline directories that will give you a list of mechanics in your area. Most online directories include reviews given by customers who have used the services of the repair shop. Read these reviews closely for misleading postings. If you are looking for an offline business directory, you can approach the Better Business Bureau (BBB). They usually have details of all the reputed repair shops in your local area.

Message Boards

There are several message boards that have forum threads which give details of local repair shops and dealerships. The members of the forum chime in and give their recommendations and experiences. When checking these websites, you must apply the same filtering that you use on review sites.

car transmission

Points to Consider

Once you have narrowed down on the list of service providers in your local area, you must consider the following points before you give your car for repair and if you would like to find some educational articles online you can visit this Transmission Repair Miami Facebook Page.

  1. You must look for a facility that is well organized and has several vehicles in the parking bay. Also, they must have modern equipment in their service bay. Don’t expect hospital clean conditions, but consider whether the level of professionalism and the image of the facility meets your needs.
  2. Don’t select a facility just because it is close to your place of work or home.
  3. Determine if the service center works on your vehicle model or performs the repairs you need.
  4. The car transmission center you select must be technically competent to carry out the repairs. The customers’ service area of the center must display the qualification and technical competence of all employees.
  5. The staff of the auto repair shop must be helpful and courteous. The service writer, manager, and the technicians must answer all your questions thoroughly.
  6. The fee for repairing automatic transmissions must be posted in the waiting room or front office.

Bottom Line

Even though reviews and business have made it easier to select a auto service center, the old-fashioned word-of-mouth recommendation from someone you can trust is still an effective tool. Your friends and family members can give you details of a good local repair shop in Miami-Dade County. However, you must check out the facility before giving your car for repair.