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Car buying advice thread
Posted on 8/31/14 at 2:02 pm
Posted on 8/31/14 at 2:02 pm
I may be buying a car soon. What is the collective moneyboard advice for how to go about doing so? Advice for how to shop? How to adress dealers? What to look for? Best ways to get affordable financing if you have little to no credit? This will be my first big purchase as an adult. I will be looking for a small car or truck (most likely a sedan) for under $25k and will have approximately $10k to put down. I will hang up now and listen.
2
Posted on 8/31/14 at 2:24 pm to kingbob
Others can chime in but from what I've read. ...
Know what you like before going out there
Take copy of drivers license so you don't have to give them yours
Don't tell them on how you will be paying until you get a deal you like
Depending on interest rate, may be best to finance
I don't know
ETA: READ THIS LINK
Know what you like before going out there
Take copy of drivers license so you don't have to give them yours
Don't tell them on how you will be paying until you get a deal you like
Depending on interest rate, may be best to finance
I don't know
ETA: READ THIS LINK
This post was edited on 8/31/14 at 2:28 pm
Posted on 8/31/14 at 5:10 pm to HailToTheChiz
Negotiate price first , do your research and know exact value of car .. Don't mention you have a trade in until after you've made an agreement on purchase price of vehicle . In fact , don't say anything about what you want to pay , what you want your note to be , any of that . Think of every step as a separate transaction.
1) price of car
2) trade in
3) tell them you have financing set up ( don't tell them the rate you're looking for 4
4) don't tell them how much you want to put down until 1-3 are completed .
5) If possible bring someone knowledge to go through the while process with you just to make sure you're not missing anything .
* remember the dealer always wins.. But you want a fair deal for both parties.
If it's too good to be true , you're being rammed by the dealership in financing or trade in
1) price of car
2) trade in
3) tell them you have financing set up ( don't tell them the rate you're looking for 4
4) don't tell them how much you want to put down until 1-3 are completed .
5) If possible bring someone knowledge to go through the while process with you just to make sure you're not missing anything .
* remember the dealer always wins.. But you want a fair deal for both parties.
If it's too good to be true , you're being rammed by the dealership in financing or trade in
Posted on 9/1/14 at 9:47 am to BearCrocs
#5 is key if your first time. Try to find someone you trust that either works in this field or is experienced in buying cars if first time. Also make up your mind of what exactly you want then research every where it is being sold in a geographical region even out of state. Research all particular makes and models you want-color, miles, new used, upgrades. You begin to notice price difference and have an understanding. Talk with your bank first to set up financing before a dealership offering theirs. One mention of what not to do above that I disagree is not having your note in mind beforehand. Only You know how much you can afford monthly so that should always be I'm the back of your mind when negotiating. Lastly, take your time.
Posted on 9/1/14 at 6:58 pm to Bushwackers
Don't give them your drivers license 
there is no harm in this....
there is no harm in this....
Posted on 9/1/14 at 11:34 pm to basiletiger
Why not buy a car for $10000 that will last at least 6 years?
That's what OT baller do.
Read The Millionaire Next Door.
That's what OT baller do.
Read The Millionaire Next Door.
Posted on 9/2/14 at 8:45 am to kingbob
Go to a Carmax type place to do test drives. Any place that offers no haggle pricing really. They give you the car to drive without a salesman and there's no pressure once you bring the car back to them.
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