what are all the things i need to make payments on a used car
2006-12-22 05:54:25 · 21 answers · asked by Robert D 1 in Cars & Transportation ➔ Buying & Selling
Job, money, good credit.
2006-12-22 05:55:38 · answer #1 · answered by Texan 6 · 3⤊ 0⤋
Well, first you want to establish good credit. With bad credit or no credit at all you can purchase a vehicle at a Buy Here, Pay Here place, but those interest rates will break you!!
If you have good credit, you can get good financing. If you have no credit or bad credit and a co-signer, you can also get good financing if your co-signer has good credit established. However, then the car won't be in your name alone. (Don't forget to have a steady job..that helps lower interest rates too.)
You could also buy a car in full. It's nice not to have ongoing payments but you also need to make sure you have a couple hundred saved up in addition because tires and maintenance adds up quickly.
Be responsible and buy within your price range. Plan ahead so you don't get stuck between a rock and a hard place.
2006-12-22 14:06:39 · answer #2 · answered by *Kelly June* 2 · 0⤊ 0⤋
you will need some kind of employment and credit history, at least enough cash to cover taxes and tags, otherwise a co-signor, if there's a difference between selling price and cashdown, a credit application must be made, after approval, you'll need to contact an insurance company for coverage and a binder will be required by a dealer if being financed along with the insurance cards. If a trade is involved ( perhaps someone s given you another vehicle as partial collateral) the plates from the switched vehicle.
2006-12-22 14:29:46 · answer #3 · answered by Rosemary M 2 · 0⤊ 0⤋
Proof a employment for at least six months, and with enough income to cover the loan plus insurance. A loan application. A loan approval. A valid current drivers license. I know this doesn't help, but, have you thought of saving the money for an inexpensive older car till you can save the money for something nicer and you are a bit older, and wiser? Good luck with your ventrure. I have nothing against buying a car on credit.
2006-12-22 14:01:51 · answer #4 · answered by rex_rrracefab 6 · 0⤊ 0⤋
Well you need a job because they want you to have your own income. They may require a cosign on the loan though if your credit is not what they want it to be. And a down payment. And since you are 18, im thinking you want to bulid your good credit, so makeing payments is a good choice. Rather than just buying one.
2006-12-22 13:57:16 · answer #5 · answered by Kandy 6 · 0⤊ 0⤋
well your a guy and 18 so you're insurance is gonna be high, but you need someone to finance you...a bank or most car places have one, also get a carmax report all car dealers give them for free if you ask..make sure the car has low miles and is a deal...i've seen alot of younger people get ripped off, and remember to never let the dealer see how much you want the car, even if you do want the car just dont show intrest thats when they know they got you..shop around..sure you may find the car you like but it's not the only one of it's kind i can assure you..there's always someone selling somthing cheaper and willing to go the extra mile for you..
2006-12-22 13:58:11 · answer #6 · answered by ? 2 · 0⤊ 0⤋
Fill out a credit application, be approved, put a down payment $$ on the price of the car, make a loan for X amount of months depending on price fiananced.
2006-12-22 14:05:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Just a steady job and some established credit..If no credit then a co-signer.. Just a recommendation, I would get a cheap new car like a Toyota corolla with a good warranty vs a used one. You will be happier.
2006-12-22 13:58:12 · answer #8 · answered by worldsource19 3 · 0⤊ 0⤋
first off you need a good job to help secure a loan,and maybe a co-signer,and you,ll need to set up a good budget to live on..know how much you can spend on payments and cost to operate the vehicle,,all of this might sound dumb now,,but when it comes to making the payments on a car its not as easy as it sounds,,and if you mess your credit up while your young ,its hard to get it straitened out,,id just set down and see how much i could afford and go from there ,good luck ,i hope this help,s.,,have a good x-mas.
2006-12-22 14:04:47 · answer #9 · answered by dodge man 7 · 0⤊ 0⤋
You would need:
1. money (for a down payment)
2. a valid driver's license
3. research what car would suit your budget and needs.
Good Luck
2006-12-22 14:03:59 · answer #10 · answered by Po5lly (the 5 is silent) 1 · 0⤊ 0⤋
I would highly recommend NOT making payments on a car, especially at your age. Buy a CHEAP CAR for CASH at a price for which you can sell the car for a profit, which you may choose or not choose to do.
It's like picking up immediate equity in what you buy, as opposed to being burdened with payments.
Uh, excuse me, but who is the person giving thumbs down at sensible advice?
2006-12-22 13:57:27 · answer #11 · answered by Joseph C 5 · 0⤊ 1⤋