how do i buy a used car?

vol.1 · 07-16-2008, 02:54 PM

I have some money. but i dont have 26000 dollars to pay it right off. If i wanted to buy a used car thru private sales such as the ones on the forums, how would that work?

is there like any way to like pay it off monthly thru these sales? or would i only be able to do that off the car lots?

USNSTI · 07-16-2008, 02:57 PM

Contact your financial institution (bank) and secure a used car loan. They will give you a certified check or a voucher to use to purchase the car.

vol.1 · 07-16-2008, 03:22 PM

do most people take it that way? is that the only way?

also, since its a loan, there is interest and u need to have decent credit for a better interest?
cuz i dont even have a creditcard. i have good flow of money since i have been living out on my own for a bit now.. just never found it necessary for a credit card.

also, im tryin to do this all on my own cuz i dont live with my family. all they would do for me is put me down under their insurance and just pay for that which im pretty sure still isnt that cheap.

USNSTI · 07-16-2008, 03:42 PM

Man, do you expect us to know what your damn FICO is?

Go to a bank and apply dude. Only way you are gonna find out is to ask. Try Capitol one, you can apply online there. Good luck.

vol.1 · 07-16-2008, 04:05 PM

okiiie dokiie. thanks.

fourseasonsandles · 07-16-2008, 04:07 PM

Look into Credit Unions. They typically have better rates than your every day bank. Oddly enough I got a better rate through the dealer than my credit union could offer though

RdGr · 07-16-2008, 04:15 PM

Here's an awesome website that will help you with your purchase. I highly recommend you reading through this since you do have a lot of questions (a long read, but worth it) --Used Car Buying Tips, Check the used car history, Avoiding Scams, Running Autocheck Vehicle History Reports

a17d12i · 07-17-2008, 02:49 PM

You could however make your own deal with the seller ( if they trusted you well enough ) for example you could write a postdated check, they wuould still hold the title however. But most sellers usually like to see everything upfront because its less risk for them and less hassle too. Most credit union and bank would be glad to have a secured loan with your car title in their hand as a guarantee if you have large sums of money to put "down". Again it's less risk for them of you're not paying for the loan. Interest rate will be pretty high unless a dealership have a special interest rate subsidized from the manufacture like in fourseasonsandles situation, but that's the only way of getting a loan and building your credit too. Credit card is a very good way to build your credit very quick if you kept the balances low and paid it off on time everytime. Even though you don't seems to need it but just get one or two to build your credit man. Trust me a good credit goes a long way, you'll end up paying cheaper for everything ( rates, insurance, a good job sometime require good credit, and stuff). But yeah good luck with the hunt. And words of advice check edmunds.com rather than KBB because they have good analysis based on current market value rather than KBB because edmunds are actually connected with the dealers and auctions to based their numbers from. Hope this helps

vol.1 · 07-17-2008, 04:53 PM

yeah i think im gonna start working on my credit.

i was wondering, how much down did u guys pay and wuts ur monthly fees?

a17d12i · 07-18-2008, 08:30 AM

It depends on you for the most part. But sometime a bank/dealership would require you to put money down if you don't have the best credit. I traded my paid off 02 WRX w/ 90k miles on it, they gave me $10k for it (it's wrecked, so i'm getting great trade in value) and i put it all toward my 06 STi when i bought it. I got a great deal $1k under invoice and actually got it for $30k + fees. After everything else, my payment is around $500 for 60 mo's. It's all depend what are you trying to accomplish in payments. I would suggest to do your research well whether you're buying a new/used subaru. Get the most accurate information upfront for the car you're buying from the dealership. Go home, check everything they gave you, make sure it's all accounted for. Then come back and finish the deal. Never buy instantly.

THIS IS A GREAT LINK ON HOW YOU DO YOUR RESEARCH BEFORE YOU BUY A CAR

keef123 · 07-18-2008, 08:34 AM

If you have someone in your family that you know has a credit card, and has had it for awhile and has made all there payments on time, Ask them to make you an authorized user, but tell them not to actually give you the card.
What this will do to your credit is it will make it look like you have had that credit card the whole time and it will boost your credit up.
Just make sure that they are not behind and have not been behind otherwise it will drag your credit down.

fullerton · 07-18-2008, 08:42 AM

Quote:

Originally Posted by vol.1

i was wondering, how much down did u guys pay and wuts ur monthly fees?

There is a thread on this exact question. Search for it.

vol.1 · 07-20-2008, 11:31 AM

Quote:

Originally Posted by fullerton

There is a thread on this exact question. Search for it.

i guess.. but how much did u pay for urs?

honestly, did it really bother u that much that u came on here not to help me out but instead write something about a totally different comment? dont see the point in that cz i asked a question and u didnt even post an answer.

is your life really taht boring? u shud become a mod..

07-16-2008, 02:54 PM	#1
vol.1 Lurker Fav Mod: Coming Soon Posts: 0 Join Date: Jul 2008 Trader Rating: (0)	how do i buy a used car? I have some money. but i dont have 26000 dollars to pay it right off. If i wanted to buy a used car thru private sales such as the ones on the forums, how would that work? is there like any way to like pay it off monthly thru these sales? or would i only be able to do that off the car lots? This ad is not endorsed by this member. Please register or login to hide this ad.

07-16-2008, 02:57 PM	#2
USNSTI Silver Member Car: OBP 07 STI Fav Mod: Boost gauge Location: San Diego Posts: 1,432 Join Date: Dec 2006 Trader Rating: (6)	Re: how do i buy a used car? Contact your financial institution (bank) and secure a used car loan. They will give you a certified check or a voucher to use to purchase the car.

07-16-2008, 03:22 PM	#3
vol.1 Lurker Fav Mod: Coming Soon Posts: 0 Join Date: Jul 2008 Trader Rating: (0)	Re: how do i buy a used car? do most people take it that way? is that the only way? also, since its a loan, there is interest and u need to have decent credit for a better interest? cuz i dont even have a creditcard. i have good flow of money since i have been living out on my own for a bit now.. just never found it necessary for a credit card. also, im tryin to do this all on my own cuz i dont live with my family. all they would do for me is put me down under their insurance and just pay for that which im pretty sure still isnt that cheap.

07-16-2008, 03:42 PM	#4
USNSTI Silver Member Car: OBP 07 STI Fav Mod: Boost gauge Location: San Diego Posts: 1,432 Join Date: Dec 2006 Trader Rating: (6)	Re: how do i buy a used car? Man, do you expect us to know what your damn FICO is? Go to a bank and apply dude. Only way you are gonna find out is to ask. Try Capitol one, you can apply online there. Good luck.

07-16-2008, 04:05 PM	#5
vol.1 Lurker Fav Mod: Coming Soon Posts: 0 Join Date: Jul 2008 Trader Rating: (0)	Re: how do i buy a used car? okiiie dokiie. thanks.

07-16-2008, 04:07 PM	#6
fourseasonsandles Silver Member Car: 06 CGM Wingless Fav Mod: The Newest One! Location: Ra cha cha NY Posts: 3,365 Join Date: Sep 2005 Trader Rating: (0)	Re: how do i buy a used car? Look into Credit Unions. They typically have better rates than your every day bank. Oddly enough I got a better rate through the dealer than my credit union could offer though

07-16-2008, 04:15 PM	#7
RdGr Amateur STI Driver Car: Black, 05 WRX (sold) Fav Mod: Cobb Stage 2 & Suspension Location: CA Posts: 18 Join Date: Jul 2008 Trader Rating: (0)	Re: how do i buy a used car? Here's an awesome website that will help you with your purchase. I highly recommend you reading through this since you do have a lot of questions (a long read, but worth it) --Used Car Buying Tips, Check the used car history, Avoiding Scams, Running Autocheck Vehicle History Reports

07-17-2008, 02:49 PM	#8
a17d12i Amateur STI Driver Car: Subaru Tecnica Intl Fav Mod: Tanabe G-Blue Medallion TBE Location: From A to the Z - AZ Posts: 17 Join Date: Jun 2008 Trader Rating: (0)	Re: how do i buy a used car? You could however make your own deal with the seller ( if they trusted you well enough ) for example you could write a postdated check, they wuould still hold the title however. But most sellers usually like to see everything upfront because its less risk for them and less hassle too. Most credit union and bank would be glad to have a secured loan with your car title in their hand as a guarantee if you have large sums of money to put "down". Again it's less risk for them of you're not paying for the loan. Interest rate will be pretty high unless a dealership have a special interest rate subsidized from the manufacture like in fourseasonsandles situation, but that's the only way of getting a loan and building your credit too. Credit card is a very good way to build your credit very quick if you kept the balances low and paid it off on time everytime. Even though you don't seems to need it but just get one or two to build your credit man. Trust me a good credit goes a long way, you'll end up paying cheaper for everything ( rates, insurance, a good job sometime require good credit, and stuff). But yeah good luck with the hunt. And words of advice check edmunds.com rather than KBB because they have good analysis based on current market value rather than KBB because edmunds are actually connected with the dealers and auctions to based their numbers from. Hope this helps

07-17-2008, 04:53 PM	#9
vol.1 Lurker Fav Mod: Coming Soon Posts: 0 Join Date: Jul 2008 Trader Rating: (0)	Re: how do i buy a used car? yeah i think im gonna start working on my credit. i was wondering, how much down did u guys pay and wuts ur monthly fees?

07-18-2008, 08:30 AM	#10
a17d12i Amateur STI Driver Car: Subaru Tecnica Intl Fav Mod: Tanabe G-Blue Medallion TBE Location: From A to the Z - AZ Posts: 17 Join Date: Jun 2008 Trader Rating: (0)	Re: how do i buy a used car? It depends on you for the most part. But sometime a bank/dealership would require you to put money down if you don't have the best credit. I traded my paid off 02 WRX w/ 90k miles on it, they gave me $10k for it (it's wrecked, so i'm getting great trade in value) and i put it all toward my 06 STi when i bought it. I got a great deal $1k under invoice and actually got it for $30k + fees. After everything else, my payment is around $500 for 60 mo's. It's all depend what are you trying to accomplish in payments. I would suggest to do your research well whether you're buying a new/used subaru. Get the most accurate information upfront for the car you're buying from the dealership. Go home, check everything they gave you, make sure it's all accounted for. Then come back and finish the deal. Never buy instantly. THIS IS A GREAT LINK ON HOW YOU DO YOUR RESEARCH BEFORE YOU BUY A CAR

07-18-2008, 08:34 AM	#11
keef123 Amateur STI Driver Car: 07 White STI Fav Mod: Coming Soon Posts: 21 Join Date: Apr 2008 Trader Rating: (1)	Re: how do i buy a used car? If you have someone in your family that you know has a credit card, and has had it for awhile and has made all there payments on time, Ask them to make you an authorized user, but tell them not to actually give you the card. What this will do to your credit is it will make it look like you have had that credit card the whole time and it will boost your credit up. Just make sure that they are not behind and have not been behind otherwise it will drag your credit down.