Getting ready for car buying season

Car buying season is just getting underway. The words "model year-end clearance" are popping up in car ads and consumers are starting to think about trading in their old vehicles. Car buying season traditionally runs from September through December each year.

If you are thinking of buying a new car before the end of the year, now is the time to get started. Here are some helpful steps to get you ready for car buying season:

• Check your credit scores - Your credit score plays a major factor in determining your auto loan rates. Check your credit score early to see where you stand. If you spot an inaccurate or fraudulent record, work on getting it resolved right away.
• Save up a down payment - Even saving just a few hundred dollars can reduce the amount you need to borrow and save you a lot of money. If you are planning to trade in your car for this amount, try selling it independently first. You'll usually get a higher price this way.
• Check the loan rates - Use your credit score to see what kind of loan rates you may be able to receive. Most online lenders, banks and dealers will give you a quick quote estimate if you tell them your score and how much you want to borrow. Calculate your best financing option before you hit the lots.
• Research online - Car buyers have access to amazing resources thanks to the internet. Visit sites like Kelley Blue Book and Consumer Reports to get important information on cars that fit your budget.
• Shop on the last Saturday of the month - If you are buying from a dealership, plan to shop on a Saturday morning at the end of the month. This is when dealers will be the most eager to make you a deal.

You can read more about getting ready for a vehicle purchase in the special "Buying a Car" section of Credit.com.  Are you planning on buying a call this fall? Share your tips, questions and feedback in the comments section below.