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Message
re: First Time Car Buyer - Update on page 4
Posted on 4/12/16 at 9:46 am to TigerRob20
Posted on 4/12/16 at 9:46 am to TigerRob20
quote:
Depending on the care you buy, you may get a fairly good deal at the dealership. I know Toyota does 0% financing for 60 months on some of their cars throughout the year. Free money...
I don't think any dealers are doing 0% on a used vehicle.
To OP- Pre-approval is nice leverage to have in the negotiation. When buying used, it's good to have a high percent down. Most places I've looked have tiered rates based upon how much you're financing. (10%, 25%, 50%).
If you can finance less (net of purchase amt, trade-in, cash down) then 50% you should be able to attract a low rate.
1
Posted on 4/12/16 at 9:49 am to Oenophile Brah
quote:
f you can finance less (net of purchase amt, trade-in, cash down) then 50% you should be able to attract a low rate.
I was hoping this would be the case, but due to the frustrations my wife's Accord has been giving me recently, I will be buying sooner than I had planned. I'll probably only have around 30% down at the time of purchase.
This post was edited on 4/12/16 at 10:09 am
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