SALT LAKE CITY — Financial advisors say car buyers often don’t give their car loan much thought, until they’re face-to-face with the dealer’s finance manager. In today’s mix of higher interest rates and higher car prices, that can cost you thousands of dollars.

The average transaction price for a new car has passed the $50,000 mark according to Kelley Blue Book . More than one in five buyers in the last quarter took out a seven-year car loan or longer says Edmunds . And 7.9% of Utah borrowers have a thousand-dollar or higher car payment finds LendingTree.

There are many reasons why people should shop for a car loan before stepping into a dealership says LendingTree’s chief consumer financial analyst, Matt Schulz.

“A fraction of a point can be a really significant savings,” he said.

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