Eric Hoffman Financing Quotations

How you are going to finance something is as or more important than what you will be driving. You need to check banks and credit unions, and of course, with the financing manager at the dealer itself, to be able to arm yourself with the knowledge you need to negotiate.

We found that most consumers classified themselves as 'novices' or 'apprentices' when it comes to vehicle financing and admit to feeling uninformed when it comes to that process. Our mission at AWARE is to reach out to and be a resource for all Americans who are thinking about buying another vehicle.

When you look at the whole financial literacy landscape, all of the companies, organizations and associations involved in AWARE have a long history of educating consumers about auto financing and are doing a great job. But we felt there was still room for a collaborative and collective effort like ours on an industry-wide level to augment what they're doing individually.

During the vehicle buying process, consumers tell us they put a lot of research into the car or truck they are considering. Our goal is to help educate consumers so they are as aware about their financing as they are about the vehicle they are buying.

Individual members of AWARE have worked diligently to educate consumers about financing options. But even with such a strong track record, our research has indicated that if we combined education efforts, we could have a greater impact on consumers. That's why the auto dealers and financial services company leaders involved with vehicle financing came together to provide consumers with the information, tools and resources they need to make informed decisions when financing a vehicle.

If you answered 'no' to one or more questions, go back and hit the books before you buy a car or truck. Consumers, especially those at the beginning of their financial lives, need to be vigilant about understanding the vehicle financing process. If you make mistakes along the way, they can follow you for years. Get smart before you sign on the dotted line.