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DAP Forums > Other Topics > Other Topics

How to buy a car from dealer?

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#1
07-14-2013, 12:59 PM
Senior Member
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spartanwarrior
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Hey guys what is the best way to buy a car from a dealer for the first time? I have no previous credit but I been working for a month now (lol). Is it better to ask for a loan from my bank or something? I can't buy a car with cash because I don't have enough so I am planning on a down payment of about $2,000 and paying the rest $3000 or so within a year.
Also should I get a credit card from my bank? I never had one before.
btw: this is what I am thinking of getting, or something similar...
http://www.autoshopper.com/used-cars...J-30563806.htm
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Last edited by spartanwarrior; 07-14-2013 at 01:07 PM..
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#2
07-14-2013, 01:25 PM
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The best would be to have a cosigner with good credit and citizen/permanent resident. Yes, get a credit card so you can start building credit.
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#3
07-14-2013, 01:31 PM
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Holy mileage!!!...try to see if they're a buy here pay here dealership.. if you dont have credit thats the best way to go... except watch out for the interest rates and the hidden fees.
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#4
07-14-2013, 03:03 PM
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Quote:
Originally Posted by hooligan111988 View Post
Holy mileage!!!...try to see if they're a buy here pay here dealership.. if you dont have credit thats the best way to go... except watch out for the interest rates and the hidden fees.
beggers can't be choosers. This is not exactly the car I want and I am also to check carfax.
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#5
07-14-2013, 03:24 PM
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Quote:
Originally Posted by spartanwarrior View Post
beggers can't be choosers. This is not exactly the car I want and I am also to check carfax.
haha dont worry man..i bought a 98 nissan sentra.. not what i wanted but.. its a car and im happy with it haha
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#6
07-14-2013, 03:30 PM
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Quote:
Originally Posted by spartanwarrior View Post
Hey guys what is the best way to buy a car from a dealer for the first time? I have no previous credit but I been working for a month now (lol). Is it better to ask for a loan from my bank or something? I can't buy a car with cash because I don't have enough so I am planning on a down payment of about $2,000 and paying the rest $3000 or so within a year.
Also should I get a credit card from my bank? I never had one before.
btw: this is what I am thinking of getting, or something similar...
http://www.autoshopper.com/used-cars...J-30563806.htm
This is exactly you do. Whatever car you buy, you must buy it from a dealer. The dealer has relationships with financial institutions. He/She will send you to one of these institutions, preferably a credit union, and you handle the business over there. Be prepared to provide proof of income. Your interest might be a little high but that is normal for first time buyers. They will definitely pull up your credit. They'll probably give you an option of how long your want your loan to be. I personally picked 36 months. Use this to build your credit. You have to start somewhere. With small loan like the amount you're talking about, you have the perfect opportunity. Set up automatic direct monthly debit. And then after a few months, start rapidly paying off the loan. Your credit will shoot up like you've never imagined. Be confident about this..You will definitely be approved. But the car is another issue..I recommend you have it examined by an independent mechanic. Car dealers aren't exactly known to be honest individuals. Ask about the warranty. In my state by law there is a one month warranty for mechanical problems. But you should take a look at every aspect of the car before making a purchase. Again, tell the dealer you'd like to finance from a credit union. Good luck.
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#7
07-14-2013, 04:45 PM
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^That's exactly what I'm planning to do! lol

By the way OP should take a look at other cars that one doesn't look to good to me especially those miles. Hey I've heard Toyota's can be worth it.
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#8
07-14-2013, 05:31 PM
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spartanwarrior
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Quote:
Originally Posted by 2Face View Post
This is exactly you do. Whatever car you buy, you must buy it from a dealer. The dealer has relationships with financial institutions. He/She will send you to one of these institutions, preferably a credit union, and you handle the business over there. Be prepared to provide proof of income. Your interest might be a little high but that is normal for first time buyers. They will definitely pull up your credit. They'll probably give you an option of how long your want your loan to be. I personally picked 36 months. Use this to build your credit. You have to start somewhere. With small loan like the amount you're talking about, you have the perfect opportunity. Set up automatic direct monthly debit. And then after a few months, start rapidly paying off the loan. Your credit will shoot up like you've never imagined. Be confident about this..You will definitely be approved. But the car is another issue..I recommend you have it examined by an independent mechanic. Car dealers aren't exactly known to be honest individuals. Ask about the warranty. In my state by law there is a one month warranty for mechanical problems. But you should take a look at every aspect of the car before making a purchase. Again, tell the dealer you'd like to finance from a credit union. Good luck.
Can I do that finance with a credit union thing even if I have no previous credit?
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#9
07-14-2013, 06:10 PM
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msaccountant
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Quote:
Originally Posted by spartanwarrior View Post
Can I do that finance with a credit union thing even if I have no previous credit?
Yes...
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#10
07-15-2013, 07:19 AM
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^^ Correct. Just go for it. Maybe your interest will be slightly higher than usual but everyone starts at some point.
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