Question:
I got screwed when I bought my first care. I was paying about 15% interest on a 2 year old car. The tires blew out on me when I was in Germany and I was only going like 45 mph. I didn't have gap insurance or nothing, so I ended up making payments on a car I didn't own. I don't want to get screwed again, so How do I know when I'm getting a good deal? What should I look out for? Please help!!
Answers:
Does anyone know where i can buy this rim?
Unless you have a very good relationship with your bank or credit union, then your APR isusually going to be based on your credit score. Find out what your score is before you start shopping. If you have a high score (650+)then you should qualify for a fairly low interest rate. keep in mind the older a vehicle is the higher the APR. Also remember that the longer the term of your loan the higher the interest rate is going to be. A "buy rate" is the rate at which your dealership buys money from the bank. If the "buy" rate is; for instance; 8.9% the some banks will allow the dealership to "make points" by charging the customer additional APR points(sometimes anywher between 2-5 pts) making your APR go up to 10.95-13.9%. Its legal but you don't have to accept it. APR is sometimes just as negotiable as price. Ask what their "buy" rate is and how many points they are trying to make and watch the look on the finance mgr's face.Hope this helps....... don't forget that if you have bad credit your going to have to pay higher APR but start paying your bills and refinance after a year or soHelp deciding on a vehicle...?
Depending on your credit your car loan should be 6-12 percent, anything above about 7.5 is outrageous if you have good credit. Loan terms are usually decided by the finance company, and typically they only try to screw you over if they're unscrupulous or you are a major credit risk. This can be avoided by going somewhere that uses a recognizable and reliable finance company. As for the quality of the car, having it inspected by a mechanic is always wise if your unsure of its condition, and where you really make or break the deal is negotiating the price. Always be willing to walk out and forget the whole thing if they aren't giving you a fair shake. Typically on a used car I offer 25% less then they're asking and try to settle around 20% unless the car has already been marked down or something. Don't be afraid to low ball, just make sure your serious about buying before you negotiate and make that clear to the salesman and he'll probably work with you even if your first number is way low.What if the car dealership wants to break the contract?
Well, for one, make sure that there are rubber grooves on the outside of the tires, this is called tread. Tread insures that your tires are not worn out. Also be sure that you buy from a "new" car dealer. New car dealers sell used cars, but at a higher quality than a used car lot. Used car lots sell cars that are rejected from a new car dealer.So, when your tires blew out at 45 mph, did you not notice the spike strip on the road? Maybe you crossed the border into France or Poland without stopping first and they spike-stripped you to make you stop.
Is the honda accord saloon a girly car or man car?
most dealers can only charger a certain percentage over the banks rate, like 2-3 percent, so if you are paying 15% your credit sucks anyway. It doesn't sound like you got screwed the first time.As far as this time, once you feel happy with the payment, and the car, you got a good deal.
More Questions & Answers ...
This article contents is post by this website user, CarQnA.com doesn't promise its accuracy.
Copyright 2006-2008-2007 CarQnA.com. All Rights Reserved.