Now there's a Spanish version of “Understanding Vehicle Financing,” an industry-sanctioned brochure to assist car buyers.
“While this joint project already has benefited many car and truck buyers, we created a Spanish version to reach and educate an even wider audience,” says Susie Irvine, president and CEO of the American Financial Services Association Education Foundation.
It publishes the brochure through the National Automobile Dealers Assn. and in cooperation with the Federal Trade Commission.
“We are pleased to continue working with auto lenders in an effort to educate the public, including those who speak Spanish, on one of the most important aspects of the vehicle-shopping process — financing,” says NADA Chairman Dale Willey.
Originally produced in 2003, the updated “Understanding Vehicle Financing” brochure provides information to help consumers learn about dealership financing and evaluate their own financial situations before financing a new or used vehicle. It also addresses vehicle leasing.
The brochure includes:
- A checklist of recommended actions to take before, during and after visiting the dealership.
- A worksheet to determine affordable monthly payments.
- A worksheet to allow borrowers to compare terms from up to three creditors.
- A glossary of vehicle financing terms.
- A revised list of federal laws regulating dealership financing and leasing.
- New information on the process of obtaining a credit report.
More than one million copies of the brochure have been distributed since its creation.
Free copies can be downloaded from www.afsaef.org. Bulk orders are available by calling the Foundation at 888-400-7577.