I need to buy my first car, and will have to get a loan. What is the best way of going about it and how much do I ask for? I just wan't to get somthing economical and decent, not too flashy...
2007-01-16 11:03:23 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
best case would be to sign up with your parent or other relative who has great credit, if you cannot do that, shop the rate just like you would the car
www.capitalone.com is good, but compare everything
2007-01-16 15:12:08 · answer #1 · answered by kpotter47 3 · 0⤊ 0⤋
Get a loan through a crdit union. They have the lowest rates. NEVER, NEVER, NEVER get a loan through the dealership.
My husband used to work at a car dealership. They tried to screw people any chance they got. Look over the paperwork VERY carefully.
My husband has a customer who had a trade-in. She wasn't careful in looking over the paperwork with the finance guy and the dealership left out her trade-in cost all together. She lost about $4500 on that deal. Those finance guys are really greasy. That's when my husband quit.
2007-01-16 11:16:27 · answer #2 · answered by MagPookie 4 · 0⤊ 1⤋
have a cosigner, if it's your first. Once you pay that off you should be good to go. DO NOT take anything over 13% interest.
I had a 8900 dollar loan for 180 a month with Vantage West Credit Union.
2007-01-16 11:06:52 · answer #3 · answered by nukem_thebomb 3 · 0⤊ 0⤋
Here is an article http://wiz.sc/Loans with some information on loan options and the best plans.
2007-01-16 20:06:21 · answer #4 · answered by mikalob092 1 · 0⤊ 0⤋
Check around and find the best deal.Usually a credit union is the best source.
2007-01-16 11:06:21 · answer #5 · answered by Jim C 6 · 0⤊ 0⤋
shop and compare http://painintheexhaust.blogspot.com/search/label/AUTO%20LOANS try to get a check or pre approved loan. it gives you bargaining power when you shop cars
2007-01-19 10:16:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋