I NEED A CAR
I need a car, gulp. With that said, here are some things to look at when trying to buy a car. The biggest thing to remember is to be sensible. Walk before you run.
There are a number of steps involved with buying a car. The good news is that they are very simple. You need to figure out if you are going to pay cash and finance. If you are like most people you will be financing. Then you must factor in how much you can make as a down payment and how much you want to spend a month. Then it is as simple as doing some homework and deciding on the auto you want to buy.
Now, if you have bad credit, no problem. But, you have to remember that getting financed for an auto is not a personal thing. The forms that you fill out at the sale goes to the bank the following week. There, a person sits and reads over your credit report and application and decides whether it is a good business decision for his bank to buy your note. If it is a good decision for the bank your note will be approved. If not, your dealership will probably try and shop it to a different financial institution.
One thing that you should remember when going to buy a vehicle is that banks like stability. They want to know where you have lived and worked for the past five years. If your credit is not the best then they will want check stubs from your work. They will also want proof that you live where you say you live. Things such as a water bill or phone bill. They will also want 10 people to vouch for you so have their names, addresses and phone numbers ready.
Many times people ask what if I don't get financed? Well if you are truthful with the people at the dealership as far as your financials, odds are very good that you are going to be given an auto loan. If you make $1,500 per month, then don't say you make $2,500 per month. Mistakes like that will cost you the loan.
And finally, you have to remember that you have to keep your payment in line with what your income is. Don't expect to make $1,300 per month and try to get a payment of $550 on that new Nissan or Toyota. It just won't happen. Remember that you have to walk before you run so keep that in mind.
Hopefully we will see you at a sale.