CNN Tells You How to Buy a Car - Even Now

• SEE ALSO: New Car Buyers Guide
• SEE ALSO: New Cars By Monthly Payment

Washington DC October 7, 2008; The AIADA newsletter reported that auto dealers are hungry for customers: Worried consumers are putting off buying big-ticket items, and buyers on the market are finding it harder to get a loan.

So if your credit is solid, now is a great time to make a deal. CNN reports that with few customers buying, there are deals to be had. And with inventories jamming dealer lots, you may be surprised to find that you can even find super-low interest rates. "The discounts are almost unprecedented," said Phil Reed, consumer advice editor at Edmunds.com.

First on the CNN checklist is to check your credit rating. Then, assuming your credit is good, figure out how much you can afford. Web sites like The Auto Channel and others have calculators that show how much you could spend on a car while still keeping monthly payments affordable.

After shopping around for a loan, it's time to shop for a car. In the end, there's a very good chance you'll never need the loan you just arranged. Car dealers working with automakers' captive finance companies can almost always offer the best rates.