Still a car buyers market? And will it matter for me??

Romulanman

Romulanman

Well-Known Member
I'm on the hunt for a new vehicle for my daughter that lives in NV. I currently live in CA and my credit union here has too many stipulations that won't allow me to use their services for a loan. I have $5k for a down payment and planned on spending about $15k-18k for a newish model Toyota Camry. So I only need to borrow about $13k. Does anyone have experience buying cars out of state and how that works? NV is pretty slim pickins when it comes to vehicles compared to CA obviously. Also I'm not too familiar with how you buy cars for other people with registration etc. Would I have to be a cosigner instead of the only buyer?
I just had a BK 6 months ago and my credit isn't that great prob about 600 or so. My daughter doesn't think she has good credit either. She has never applied for much in her own name. I told her to check credit karma for some kind of baseline but she just had her birth cert stolen and put her credit on hold.
My income to debt ratio is very low so paying upwards of $500 or more a month is no prob. I'd like to refinance after a year or so with my own credit union which I did with my previous car so i'm assuming the original loan length won't matter that much? I'd still like to keep it to 4 yrs or less.
Any opinions or advice would be greatly welcomed. I've had this planned for 6 months now and would like to pull off a semi flawless attack at a dealership.
 
Nizza

Nizza

Well-Known Member
Romulanman said:
I'm on the hunt for a new vehicle for my daughter that lives in NV. I currently live in CA and my credit union here has too many stipulations that won't allow me to use their services for a loan. I have $5k for a down payment and planned on spending about $15k-18k for a newish model Toyota Camry. So I only need to borrow about $13k. Does anyone have experience buying cars out of state and how that works? NV is pretty slim pickins when it comes to vehicles compared to CA obviously. Also I'm not too familiar with how you buy cars for other people with registration etc. Would I have to be a cosigner instead of the only buyer?
I just had a BK 6 months ago and my credit isn't that great prob about 600 or so. My daughter doesn't think she has good credit either. She has never applied for much in her own name. I told her to check credit karma for some kind of baseline but she just had her birth cert stolen and put her credit on hold.
My income to debt ratio is very low so paying upwards of $500 or more a month is no prob. I'd like to refinance after a year or so with my own credit union which I did with my previous car so i'm assuming the original loan length won't matter that much? I'd still like to keep it to 4 yrs or less.
Any opinions or advice would be greatly welcomed. I've had this planned for 6 months now and would like to pull off a semi flawless attack at a dealership.
Click to expand...
I’ve heard one of the best ways to do it is go in person to the first dealership, and when you find the car you want have a buddy to call. Call the buddy and have them check all the other dealers to see if they can compete with the price your dealer is offering. Then make the offer or go to the place that offers a better deal for that car you want
 
Romulanman

Romulanman

Well-Known Member
Nizza said:
I’ve heard one of the best ways to do it is go in person to the first dealership, and when you find the car you want have a buddy to call. Call the buddy and have them check all the other dealers to see if they can compete with the price your dealer is offering. Then make the offer or go to the place that offers a better deal for that car you want
Click to expand...
Is this in the case of "this deal is only good for today" kinda salesmen? That's not the guys i want to deal with tho. I should have a chance to take that offer home for several days if not a week. Gives me plenty of time to do what the buddy was gonna do lol.
 
ChangeIt

ChangeIt

Member
Romulanman said:
I'm on the hunt for a new vehicle for my daughter that lives in NV. I currently live in CA and my credit union here has too many stipulations that won't allow me to use their services for a loan. I have $5k for a down payment and planned on spending about $15k-18k for a newish model Toyota Camry. So I only need to borrow about $13k. Does anyone have experience buying cars out of state and how that works? NV is pretty slim pickins when it comes to vehicles compared to CA obviously. Also I'm not too familiar with how you buy cars for other people with registration etc. Would I have to be a cosigner instead of the only buyer?
I just had a BK 6 months ago and my credit isn't that great prob about 600 or so. My daughter doesn't think she has good credit either. She has never applied for much in her own name. I told her to check credit karma for some kind of baseline but she just had her birth cert stolen and put her credit on hold.
My income to debt ratio is very low so paying upwards of $500 or more a month is no prob. I'd like to refinance after a year or so with my own credit union which I did with my previous car so i'm assuming the original loan length won't matter that much? I'd still like to keep it to 4 yrs or less.
I was maybe thinking about renting a car instead after I've read some of the articles out there https://www.thedubrovniktimes.com/lifestyle/feature/item/7968-why-should-you-rent-a-car but just not sure about it.
Any opinions or advice would be greatly welcomed. I've had this planned for 6 months now and would like to pull off a semi flawless attack at a dealership.
Click to expand...
I agree that you should go there in person and see for yourself. Almost sure they might be able to find soemthing to suit you depending on what you can afford.
 
Romulanman

Romulanman

Well-Known Member
I ended up getting her car about 3 weeks ago. I bought her a 2016 Audi Q3 with 75,000 miles. Very nice rig that she loves. Got a loan from my new credit union on a 600 score that gave me 3 yrs @ 7.5% with $4k down. I'll have it paid off in 1.5 yrs with double payments.
 
ilovereggae

ilovereggae

Well-Known Member
if u want to negotiate i would checkout forum.leasehackr.com - the ppl on that forum are as big of nerds about car financing as we are all about growing herb. tbh all the details of all that buying cars stresses me out. i wound up doing a combination of old and new school to keep it simple. found the same exact CPO car/trim i wanted at 2 dealerships. then i went on capitalone and did their prequalified deal and punched in the number i wanted to pay. then i went and test drove both cars and left without talking numbers. called both dealers and said whoever met my number first had the sale. one of them jumped immediately and the other tried to play games so they were out. printed out the capital one paperwork (which they have to honor), wrote a check for exactly wanted I wanted as my down payment. drove to the dealer, signed paperwork with no hassle from the finance guy, no bs upselling or bait and switch. was driving home smoking a fatty less than an hour after I got there.
 
B

Bubbas.dad1

Well-Known Member
I have a relative that bought a car thru autonation. They have a warranty system, she had some work done on her car, and is very happy with it.
 
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