I'm 18 years old and I am looking to buy a car I have just recently finished high school early, so I could start working. But the thing is I live in a tiny town and they don't have any openings. I want to buy a car to work in a city about 39 miles away but I don't have a car!
I want a new car that won't break own on me, and one that I will enjoy for about 10 years. I've narrowed my search to the lowest priced car I could find, it's a 2007 CHEVY AVEO that is priced $10,560. I realize that insurance will be high but I'm not sure how high! Or how to even check how high it will be.
My point, I need to know what I should ask the dealer without sounding stupid, and I need to know some of these terms.
*Manufacturer’s Suggested Retail Price. Tax, title, license, dealer fees, APR* Thanks to anyone who can help me with this! I appreciate it!
2007-01-22 03:40:48 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
You can't buy a car without a job but you cant get a job without a car...classic catch-22.
Without a qualified person (probably close relative) to co-sign a loan, you have no realistic chance of being approved for a car loan.
Get your parents to co-sign. You should probably bring them or some adult with you anyway. Buying your first car is intimidating and car dealership prey on that to try to exploit you.
Check geico.com or any insurance website that offers free insurance quotes.
Go to a credit union or bank to get pre-approved. The dealer will mark up the rate if you aren't educated on the interest rate you should be paying. If they can get lower than your bank, go with the dealer but at least you'll know you got a good rate.
2007-01-22 04:04:57 · answer #1 · answered by Confused 3 · 1⤊ 0⤋
The most important thing to buying a car is to avoid those fancy selling points and markdowns. You want to get the lowest rate possible on your loan. Shop around by going to banks and credit unions and get a quote. You will need someone to co-sign with you since you have no credit history. Do not buy new, that is wasting money right away. You can get a slightly older model (2005 or 2006) for less money and still won't have to worry about mechanical problems. You can get free quotes from insurance companies online or give them a call. Insurance is the easy part if your history is clean. Do your research before buying the car you want. Find out bluebook value on it and go to Edmunds.com and find out what that model sells for. That way you know if the dealer is trying to screw you.
2007-01-22 05:12:21 · answer #2 · answered by golfinguy79 3 · 0⤊ 0⤋
Do you want this problem the rest of your life. Go to college and get a degree. You will be in this mess forever most likely. The number one reason people are in debt is because they spend too much money on a car. Get an education and you will be able to choose what you want to do.
-dave
2007-01-22 04:30:29 · answer #3 · answered by dave k 3 · 0⤊ 0⤋