if i put my parents as owners or co owners of a new car about 17,000, how much down payment would they ask for

Question

i want to get a civic but i dont exactly have the best credit as a college student. what if i put my parents anme down as co woners that are retired. i barely pull in any income but is able to pay for it month to month. how much down payment will they ask for if my parents have excellent credit?

Answer 1

None, if they do in fact have perfect credit and co-sign for you.

Here is a list of MSRP's and Invoice prices for Honda Civic Coupes.
http://autos.yahoo.com/honda_civic_coupe/

Here's some tips on buying.

1. Never trade your current vehicle in, sell it yourself, even if you just break even on your loan.

2. Always try to pay as close as possible to "invoice price" (what the dealer pays for the car from Honda, Toyota, etc).

3. Always shop for a car at a dealer at the end of the month- I'm talking the last 1-3 days. Not only does each salesman have a quota of cars he needs to sell each month, but so does the entire dealership. They will be much more willing to drop prices close to invoice for the sale.

4. Go to autotrader.com and email all the Honda/Toyota/etc. dealers within 75-100 miles and ask them for their bottom line price on the model and trim level you want.

5. Take the best price you're quoted in email and call the other dealers and ask them if they'll beat that price by a margin big enough to make it worth your while. A good number is an addtional $300-500. Remember that your goal is to pay what the dealer paid for the car, INVOICE PRICE. Generally, the bigger the lot (more cars in stock) the better the deal as they sell more units (volume) and don't rely on profit (margins) nearly as much. Sometimes they'll even take a slight loss and sell for less than invoice just to move a unit or steal a sale from another dealership. Play the lots against one another.

6. Remember that you're in control. They'll try to bully you, say they can't get the price any lower, stall, run back and forth to the manager, etc. It's all just a show. They know exactly what they can sell the car for.

Answer 2

To be honest, if you a college student with little income, I don't think buying a new car with long-term financing is the right thing for you to do right now. You are locking yourself into a commitment that may be hard to get out of down the road if you go upside down on your loan. Worry about graduating and buy something that you can afford. You can get a Civic with a few years and miles on it for much less money. Graduate, get a good job... then worry about a new car.