can i buy a vehicle from a dealer(im young)
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can i buy a vehicle from a dealer(im young)
Posted by Batdawg on 1/22 at 8:13 pm
I have always bought everything in cash. I am responsible and I have never had any late bills. I pay phone bill, dish, car insurance, rent.

I'm pretty sure none of that affects my credit, unless I don't pay on time.

I want a truck, maybe a few years old. I save money well so I could give a good down payment. So without a credit history can I buy a used truck from a dealer?




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Posted by lilsnappa on 1/22 at 8:27 pm to Batdawg
Jesus man.. one thread at a time.

Gotta ease in to this board. Go back and read some past threads, you will learn alot.



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Posted by Croacka on 1/22 at 8:42 pm to Batdawg
FYI, you don't have to finance anything at the dealer

If you are a member of a credit union or even a bank, they may be able to approve you for a loan and you won't need to deal with that at the dealer



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Posted by foshizzle on 1/22 at 8:48 pm to Batdawg
quote:

So without a credit history can I buy a used truck from a dealer?


Talk to a dealer.

Seriously, there are lots of threads on here asking "can I borrow money for thus and such". Although most of us can offer encouragement the only truly definitive answer will come from talking business with someone prepared to do business. It costs nothing to ask, so just ask. If you don't like the terms, decline them.



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Posted by Batdawg on 1/22 at 9:20 pm to Croacka
quote:

FYI, you don't have to finance anything at the dealer

If you are a member of a credit union or even a bank, they may be able to approve you for a loan and you won't need to deal with that at the dealer


Can you repeat that in stupid people terms?



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Posted by Tigerpaw123 on 1/22 at 9:28 pm to Batdawg
quote:

Can you repeat that in stupid people terms?


Just because you buy a car from xyz dealership, you can, and probably get much better terms, from a credit union or bank. Go to the bank that you have a relationship with and ask about used car loans, see if they approve you, if so then go make a deal at the dealership and when it comes time to pay tell them to contact abc bank

Check penfed.com, and any credit unions for best rates



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Posted by Batdawg on 1/22 at 9:39 pm to Tigerpaw123
So you ask the bank if you can get a loan, if they say yes

You go to a dealer and negotiate a price

Then tell them to call your bank?




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Posted by Croacka on 1/22 at 9:46 pm to Batdawg
Yep



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Posted by Lou on 1/23 at 9:08 am to Batdawg
quote:

So without a credit history can I buy a used truck from a dealer?
absolutely. go to a local bank and sit down with the loan officer. if you are gainfully employed, have no debt, and have a proven history of paying your bills, they will loan you the money. ... or, why don't you save up and pay cash for the car you want?


This post was edited on 1/23 at 9:19 am

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Posted by braindeadboxer on 1/23 at 9:21 am to Batdawg
quote:

im young


They want your money, not your wisdom. Being young does not disqualify you.



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Posted by GaryMyMan on 1/23 at 10:12 am to Lou
I'm self employed and had been for less than a year when I wanted a newer car (was in school prior to this job, so my taxes showed that I was poor). The only proof of income I had were check stubs for a few months work. I went to a credit union here in Shreveport and was shocked how easy it was to get approved for a $30,000 car.


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Posted by vjp819 on 1/24 at 5:46 am to Batdawg
like others have said get the loan through your bank or credit union. the interest rate will be lower. that dealership gets a cut from the loan companies they deal with, and its you who will be paying that cut.


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Posted by Will Cover on 1/24 at 5:53 am to Batdawg
quote:

(im young)


quote:

I want a truck


quote:

I save money well so I could give a good down payment


Any chance you'll go for a truck that you can pay cash for and therfore, not have a need for a loan?

You'll thank me later.




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