Sweet. $687.75
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Think im in good shape.
- Thread starter hildrethj01
- Start date
And how much do I know to ask for at the CU to get the car. Would I have to call up the dealership and ask?
Credit Union is the way to go.
Being debt-free is not overrated.
It certainly isn't, and I didn't say it was. Besides my home, I'm debt free but there is nothing wrong with using credit wisely and when you need it.
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Figure the price of the car you want and subtract the down payment and that's what you ask for (maybe add $500 for taxes/fees). If you need a bit more or a bit less when you go to do the deal, they'll give you more/less as long as its not a big difference. They will ask the dealer to send a purchase agreement with the CU listed as the lien holder. Then the CU will cut a check made out to them.
Agreed, but the use of credit has been the downfall of many a marriage, family, home and perhaps country.
Dealers don't want you to know this, and they darn sure don't want you to do it to them, but it's the truth.
If you speak of cash or a large down payment the dealer wont see the dollar signs. Dealers are not the same as private party sales. They count on financing to bring 'em the green. The less financing the higher the markup in order to turn an acceptable profit. The only thing cash means is that they have to charge more for the car to get the profit margin they want.
Again,
Let the dealership think you want to finance it through them forever. (this is where they will be counting on making the money) Don't say Jack about a large down payment, being pre approved, or cash. Make sure it's a fee simple loan.
This will get you the best price on the car period. They will think they are getting over on you especially if the loan term is long. Car dealers love to get over. Let em think that. That's where you're gonna get the deal. You can go to a credit union or bank and get pre approved and even make arrangements but don't tell the dealer.
Buy the car at the best price then pay it off or close to it when the first note comes due with anything over the first payment due going to principal on the loan. ( the beauty of the fee simple loan)
Boom, You just saved a bunch of money on a car purchase
And did it to them, before they did it to you.
Its the old car shark trick and they do it hundreds of times a day, they will give you an awesome price on the car but tack on $$$$$$$ in financing on the back end of the deal. Turn the tables play the game on them and then smile.
Much better to be the screwer than the screwee
If you speak of cash or a large down payment the dealer wont see the dollar signs. Dealers are not the same as private party sales. They count on financing to bring 'em the green. The less financing the higher the markup in order to turn an acceptable profit. The only thing cash means is that they have to charge more for the car to get the profit margin they want.
Again,
Let the dealership think you want to finance it through them forever. (this is where they will be counting on making the money) Don't say Jack about a large down payment, being pre approved, or cash. Make sure it's a fee simple loan.
This will get you the best price on the car period. They will think they are getting over on you especially if the loan term is long. Car dealers love to get over. Let em think that. That's where you're gonna get the deal. You can go to a credit union or bank and get pre approved and even make arrangements but don't tell the dealer.
Buy the car at the best price then pay it off or close to it when the first note comes due with anything over the first payment due going to principal on the loan. ( the beauty of the fee simple loan)
Boom, You just saved a bunch of money on a car purchase
And did it to them, before they did it to you.
Its the old car shark trick and they do it hundreds of times a day, they will give you an awesome price on the car but tack on $$$$$$$ in financing on the back end of the deal. Turn the tables play the game on them and then smile.
Much better to be the screwer than the screwee
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