Is there a best time to buy a car? What is a typical down payment for a $20000 car? My credit sucks too!?

Answer 1

Now is a good time to buy a 2007 model car as they need to move this or lose them for 2008 models. But if you're credit sucks you might be denied.

Answer 2

Well it really depends on how bad your credit is. Most lenders will want to see at least $1000 with bad credit plus any taxes and dmv fees. However that will also depend on your stability. In other words if you have moved allot, or if you have changed Jobs alto in the past five years. Stay away from the JD BuyRyders and the buy here pay here people because they wont help you rebuild your credit. Use a reliable dealer that specializes in sub prime credit. Talk to your local bank that you have used and that might know you, they might help but will usually want you to finance around 80% of NADA trade in value. This does not mean that a dealer will sell you a car for that because it is unreasonable it just means you will need more money down. Also New vehicles are easier to finance than Used vehicles. You have rebates and the like that can assist you with the purchace, plus the lender knows it is under warranty. Also Used vehicles under 20k miles might work. All of this means you probably wont get exactly what you may want but it can rebuild your credit and after 12-18 months you can get what you may want.As for time to buy, it depends on the dealer, reality is we don't care when you buy as long as you buy. All these rumors of last day of the month and end of the model year is just that. The truth is end of the model year has big incentives, however your depriciation is murder if you trade frequently (within 3 years) you will probably get creamed on trade value, end of year well the old addage if it sounds to good to be true it usually is definatedly applies here. Nothing in life is free and that goes for promos and gimicks. You pay for it one way or the other. Last day of the month myth, well all manufacturers incentives end on the last day, If you wait a day the numbers could change, and salespeople are just that people they hate to tell customers that a rebate went down or an intrest rate changed. People who wait till the last minute are not bright, they usually get screwed, especially if they don't have great credit. I hope this helps

Answer 3

The best time to buy is at the end of the current model "season". So when the 2009's start hitting the dealerships in late summer, the leftover 2008's get discounted. As for used cars, there's no special time. A typical bad-credit down payment is at least 20%, so on $20,000, you'd have to put down $4,000, but you'll still pay a very high interest rate with a bad credit history.

Answer 4

The best time to buy a car is on the last day open at the end of the month, usually a Friday or Saturday night. The sales staff get paid their commission checks from month to month and they will do almost anything to get that last sale on the end of the month so they get their cash asap. Keep in mind you will need to check out your credit with a lending company so you might want to start out with having a sales person run a credit check and try to find you financing a week before you do the final deal which I would wait to do until the last moment before closing time. It's a game of bargaining, once you have a credit limit established they will get hungry for your business.

Answer 5

best time is end of the year if you are planning to buy a new car, because dealers are trying to dispose them before the new inventory comes in. Also dealers have different promotions for the holidays and as I said, for them to dispose their current inventory. There are some dealers that still accepts your business even if your credit is not that good even 0 down but be sure to look at everything because most of dealers will try to do something like put high interest rates or high prices. It will depend on your negotiating tactics.

Answer 6

Buy a used car. Its already depreciated and you can build your credit for something nice later. Cheaper to insure too.