In the market for a new ride? Searching for a car and negotiating a good deal on the purchase price is only a portion of the process. Securing the lowest interest rate possible is also paramount. Instead of letting your hard-earned cash go down the drain on interest payments each month, follow these four steps to get your finances in order. And once you’re all set, you can select a stylish ride and drive off the lot knowing you got the best bang for your buck.

1. Know Before You Go

Prior to heading to your financial institution or selecting an online lender, don’t forget to analyze the contents of your credit profile. The higher the score, the lower the rate. But it’s not just the score you should be concerned with, the contents also matter because they’re used to determine the three-digit number. So retrieve a free copy from AnnualCreditReport.com and if you spot any inaccuracies, promptly request to have them removed. The FTC provides additional guidance on drafting up dispute letters here.

2. Set a Budget

When the time comes to start shopping for a new ride, your emotions may go into overdrive and enable you to justify exceeding your budget. A few hundred dollars may not make a difference, but you must also factor in the taxes and cost of vehicle registration, which can easily tack on thousands of dollars to the bottom line.

Fortunately, it’s possible to hedge against the risk of falling victim to this trap by using an affordability calculator to determine your budget. And remember, the monthly payment isn’t the only thing you have to worry about each month. You’ll also have to fork over cash for car insurance, routine maintenance and occasional repairs.

3. Identity Theft Protection

Once you’ve put forth the effort to bring your credit score up to par, the window of opportunity to apply for a loan and snag the best rate presents itself. But there’s nothing worse than having the creditor reject your application because your personal information has been compromised, causing your credit score to take a tumble. Therefore, you should be proactive and protect the credit score you’ve worked so hard to attain by subscribing to an identity theft protection service, like LifeLock.

4. Shop Around

It’s never a wise idea to walk into a dealership, select a vehicle and go with the first financing offer they place on the table. Instead, start by conducting an online search for national averages and call your financial institution to inquire about other options that best suit your needs. They should be able to provide you with a range of interest rates without running your credit.

If they insist on a hard pull, don’t fret because you’re allowed to go rate shopping for 30 days without incurring several inquiries on your credit profile. But if you decide to forgo the purchase of a vehicle and the window lapses, each application will show up as an inquiry. So, don’t begin applying unless you’re absolutely sure your credit is in stellar shape and you’re ready to move forward.

And once you’ve secured the approval, be sure to take it with you to the dealership to increase your bargaining power. With this document in hand, the sales representative will know you mean business and may be able to offer you a more affordable financing arrangement with a lower interest rate. Or save yourself time and money by going with an online auto loan specialist, such as OpenRoad Lending, to secure the funds you need.