2007-07-30 20:08:07 · 14 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
I mean the procedure of buying a car. what should i do. and how?? i am 19
2007-07-30 20:12:33 · update #1
You graduate and work your way up to a higher paying job. Get a $2000 car and beat the heck out of it--trust me, you'll save a fortune in stress.
2007-07-30 20:12:08 · answer #1 · answered by John G 2 · 0⤊ 0⤋
In this case, you can't. Unless you put about $25,000 down, there is no bank in the world that will finance you. At 0% interest, your payment is $677 a month, so with decent credit, you are talking $800 or so a month, and at 19 your insurance will be several hundred a month. Then there's gas, food, books and school supplies. You'd have it reposessed before midterms.
Banks aren't stupid... unless you have a parent to buy it for you or cosign, the few thousand you could save by bargaining well with the dealer won't make any difference, and your chances of even getting approved for such a loan would be about one in a million.
2007-07-31 02:40:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The usual rule is that a car shouldn't cost more than six month's income, so for you, a car should cost $6,000. If you want that car, buy it used. The price will come down, but the maintenance will go up for an older car as things break. I like cars that are about three years old. Read, "The Millionaire Next Door" to learn more about buying cars cheap.
2007-07-30 20:16:33 · answer #3 · answered by Katherine W 7 · 0⤊ 0⤋
I don't think it's a wise decision to buy a car that costs almost 4x what you make a year. Maybe you should get a less expensive car right now, and wait until you have a better income to get the 40,000 dollar car. Your car payments would be more than you could afford.
2007-07-30 20:11:07 · answer #4 · answered by Miss D 7 · 0⤊ 0⤋
The procedure is go to the dealer. Pick out the car ya want.. Dicker on the price.. Sign a sales agreement. They will find financing for you.. You will not like the terms but you want miracles... You do not make enough money
2007-07-30 20:24:38 · answer #5 · answered by Gerald 6 · 0⤊ 0⤋
1. Ask your parents nicely.
2. If that fails then set some more realistic expectations.
Other suggestions
A. Buy something used.
B. Take out a loan if you want it badly enough.
C. Get a better job. 250/wk isn't enough to pay insurance + gas + car payments.
D. Seriously, set yourself some more realistic goals.
2007-07-30 20:13:43 · answer #6 · answered by Anonymous · 0⤊ 0⤋
What do you mean how do you buy a car? You just buy it. Go to a dealer and buy a car.
BTW 40,000 is pretty expensive for a student. LOL, you must be rich.
2007-07-30 20:10:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Buy a used car and save yourself the debt! College will give you enough debt without adding a 40k car to the grand debt total.
2007-07-30 20:16:03 · answer #8 · answered by IAskUAnswer 6 · 0⤊ 0⤋
Lease or finance it. I wouldn't be spending 40,000 on a first car at 19. You'll regret it.
2007-07-30 20:16:42 · answer #9 · answered by R0G0 5 · 0⤊ 0⤋
You wait until you graduate and start making the big bucks. You would never be able to afford the payments or insurance on your salary.
2007-07-30 20:13:17 · answer #10 · answered by Tina 3 · 0⤊ 0⤋