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re: Teach me how to buy a car
Posted on 9/1/16 at 6:34 pm to tigersownall
Posted on 9/1/16 at 6:34 pm to tigersownall
When you see the car you really want tell them what price you will pay. When they try to negotiate a higher price tell them you want to go look at the competition and will be back later. They will beg you to stay and you'll get exactly what you want
0
Posted on 9/1/16 at 6:39 pm to tigersownall
Is anyone you know about to buy a new car? Buy their old one. You know exactly what you're getting. You both get a better deal from each other than you would from a dealer.
Posted on 9/1/16 at 7:09 pm to 75503Tiger
quote:
Simple: handle the note at your bank and focus on the cash price at the dealer. Once you get the cash price to fit the note you have at the bank you can entertain allowing the dealer to finance it and if they beat the deal go for it. And don't buy your car the first trip in
I don't know why everyone suggests going to your bank first. I've never had a bank loan come close to the dealer financing options, even in situations where they financed it through the bank I use.
I agree with most that you have no business spending over $20k though, considering your monthly budget and things like full insurance coverage now that you'll be financing the vehicle.
Posted on 9/1/16 at 7:11 pm to tigersownall
At your age, with your credit, and trying to achieve the note you are trying to achieve, you will likely be looking at trucks in the 20k price range. Trucks in this price range are going to be higher in mileage, many near the ceiling of what lenders are willing to finance, mileage wise.
Being a first time buyer with a not so great credit score, you may need a co-signer. Quick question to help determine if so or not: what's the largest dollar amount of anything that you've ever financed?
Being a first time buyer with a not so great credit score, you may need a co-signer. Quick question to help determine if so or not: what's the largest dollar amount of anything that you've ever financed?
Posted on 9/1/16 at 7:16 pm to slackster
You go to the bank first so that you know your bottom line. If the dealer thinks you care about payments they will screw you to the wall. You have to work in stages by getting them into the correct price range then you move to the next stage and listen to the financing options. Then you go back to your bank and if they can't beat it you know the dealer did you right
Posted on 9/1/16 at 7:25 pm to 75503Tiger
I get it, but in my experience the dealer has come to me with the financing options from multiple lenders after price was already decided. For example, 0% financing ain't gonna happen at your local credit union, but with a 660, that option is probably off the table anyway.
Posted on 9/1/16 at 9:18 pm to Fratigerguy
quote:
In almost every single case, you will pay more for a vehicle going this route.
Your are correct and I rarely would recommend this method but considering the OP I don't think he is ready to negotiate himself.
For the record I negotiate for a living M&A
Knowing what your skill set is - that is very important in negotiations.
Posted on 9/1/16 at 10:01 pm to tigersownall
Sometimes they'll give you more for a "trade in" than you'd expect, especially if it's an old beat up car. Sometimes they just want your business.
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