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Car Shopping

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17 replies to this topic

#1
BulldawgFan

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Ok guys I need advice. I'm shopping for a pickup truck. Full size preferably ,but has to be a truck. I gonna have about a $2,000 budget for a down payment. My main issue is the fact my credit is well bad. Bad enough that I never qualified for a new vehicle before. What options do I have to get a decent truck?
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#2
Matt

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Try and get preapproved from a bank first.  You should get a better rate that way.


Use your local dealerships for test drives, decide what you want but don't buy.  (Some have ethical problems with this, but car salesmen have none either so I think it is okay)

Go to cars.com or similar and search for the car you want with the search radius set to max.  

Find the lowest price if its close go there and buy it at that dealer.

If not and save the ad and call up the local guys and ask him to match.  

If he says no call up other guys within driving distance you should be able to get someone ready to sell, especially now if you can find a 2013 still on a lot.

I've bought my last two cars this way.  One I drove to Johnson City, TN from Nashville and the other I flew one way to Atlanta.(Funny side note: it is cheaper to fly through Atlanta than to Atlanta from Nashville, good thing I had a car already bought when I got lost at Hartsfield and missed my connection to Baltimore.)

Edited by Matt, 04 January 2014 - 05:57 PM.


#3
BulldawgFan

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View PostMatt, on 04 January 2014 - 05:56 PM, said:

Try and get preapproved from a bank first.  You should get a better rate that way.


Use your local dealerships for test drives, decide what you want but don't buy.  (Some have ethical problems with this, but car salesmen have none either so I think it is okay)

Go to cars.com or similar and search for the car you want with the search radius set to max.  

Find the lowest price if its close go there and buy it at that dealer.

If not and save the ad and call up the local guys and ask him to match.  

If he says no call up other guys within driving distance you should be able to get someone ready to sell, especially now if you can find a 2013 still on a lot.

I've bought my last two cars this way.  One I drove to Johnson City, TN from Nashville and the other I flew one way to Atlanta.(Funny side note: it is cheaper to fly through Atlanta than to Atlanta from Nashville, good thing I had a car already bought when I got lost at Hartsfield and missed my connection to Baltimore.)


The issue still is finding a way to get it financed. When I was getting denied by the car lot wasn't that basically the same result if I applied directly with a bank?
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#4
SECats

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Dealerships have lots of options....and don't believe the first offer.  They are full of ish.
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#5
Matt

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View PostBulldawgFan, on 04 January 2014 - 06:09 PM, said:

The issue still is finding a way to get it financed. When I was getting denied by the car lot wasn't that basically the same result if I applied directly with a bank?

Its like being denied by one bank.  Try your bank and try banks that you don't have any relationships with.  I have a car loan through BOA that I did online even though I don't bank with them.  Just google car loans, there are all kinds of banks that will do them online.  Someone will probably give you one at a higher rate because of bad credit but still give you one.  Car loans aren't too high risk, if you don't pay they take your car back.

Edited by Matt, 04 January 2014 - 06:17 PM.


#6
possumslayer

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GTA...

#7
BulldawgFan

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View PostMatt, on 04 January 2014 - 06:17 PM, said:

Its like being denied by one bank.  Try your bank and try banks that you don't have any relationships with.  I have a car loan through BOA that I did online even though I don't bank with them.  Just google car loans, there are all kinds of banks that will do them online.  Someone will probably give you one at a higher rate because of bad credit but still give you one.  Car loans aren't too high risk, if you don't pay they take your car back.


Makes sense. When applying with a bank how exactly does it work as far getting the money from the bank to the delearship? I'm sorry for the questions this is the first car I've ever had to finance. I bought my first car with cash.
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#8
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View PostBulldawgFan, on 04 January 2014 - 06:29 PM, said:

Makes sense. When applying with a bank how exactly does it work as far getting the money from the bank to the delearship? I'm sorry for the questions this is the first car I've ever had to finance. I bought my first car with cash.

Either they give you the money directly and you pay cash outright or they give you some paperwork that basically tells the dealer that you are financed through them and tells the guy in the backroom at the dealership how to get his money and how to send the paperwork for the car to the bank to hold until you pay off the car.  Most dealerships should be used to this if you are bringing in paperwork from a decent sized bank.  One thing to remember is the dealership probably makes more money on financing and warranties than on the cars themselves.  Get them to agree to price before you tell them you have your own financing because it might actual get you a worse price if they know this going in.

#9
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Don't take it as me being nosey but have you pulled a credit report and know what is bringing your score down? In the long run if possible at all it could be better to fix your credit with that 2k.

You should be able to get finance but interest rate will be something to watch but there is something out there for almost everyone now if you have proof of income.
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#10
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View PostBulldawgFan, on 04 January 2014 - 05:23 PM, said:

Ok guys I need advice. I'm shopping for a pickup truck. Full size preferably ,but has to be a truck. I gonna have about a $2,000 budget for a down payment. My main issue is the fact my credit is well bad. Bad enough that I never qualified for a new vehicle before. What options do I have to get a decent truck?
My truck just went for sale today. What you looking for?

FIRE EVERYONE


#11
Herschel Talker

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Buy a $2000 truck. Never, ever finance a depreciating asset.

Never.
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#12
BulldawgFan

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View PostJDawg, on 04 January 2014 - 08:07 PM, said:

My truck just went for sale today. What you looking for?

I really want a F-150 ,but at this point I'm sick of driving a car so I'm kinda open to anything with a bed.
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#13
JDawg

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View PostBulldawgFan, on 04 January 2014 - 08:44 PM, said:



I really want a F-150 ,but at this point I'm sick of driving a car so I'm kinda open to anything with a bed.

By my z71. Cheaper and does the same thing. Those fords are extremely nice however.

FIRE EVERYONE


#14
MerlinsJizzSack

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Just got a jeep grand cherokee. You should give it a shot it's awesome

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#15
Neil Caudle is Superman

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If you've got bad credit you definitely shouldn't be looking at a new truck... They'll Posted Image you on the rates no matter what. Not sure if you're looking for something new or used, but you can get a solid, 5-10 year old truck for a fraction of what a new truck costs

View PostHerschel Talker, on 04 January 2014 - 08:32 PM, said:

Buy a $2000 truck. Never, ever finance a depreciating asset.

Never.

I gotta agree here... It's ridiculous how much money everyone throws away on loan interests just to have a vehicle that would sell for less than what they spent in interest alone at the end of the contract.






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