How do I go about purchasing a factory new car from a dealer finance wise?
What financing options are available to me?What will influence whether my credit application will be approved?Will I get invoices send to me monthly if I set up a payment plan?Do I have to have insurance from the dealer?I'm in Australia by the way.Thanks in advance.
Public Comments
- Go to your bank first. Get pre approved. That way you will have a decent interest rate. The bank will give you the appropriate paperwork to show you are approved. Then go to the dealer of your choice. Then you will be able to negotiate the price a lot better because to the dealer you are as good as cash. Don`t tell the salesman how much you have been approved for until the deal is in writing.
- watch the interest rate. also ask your auto insurance co if they finance.
- Here is a thought...why not just drive a car that you can afford to pay cash for...and put your 'payment' in the bank...when you have enough money saved up....THEN go buy a new car! That is how we buy everything else in life other than a house...Why go into debt over a car?!?!
