Amanda
I don't really have anyone to help me with this kind of stuff so I am asking for advice on here and doing a lot of research. I don't want to get screwed over. This would be my first car so I have no idea what to give for down payment. I want to kind of have an idea of what I should be paying before I go and check out the car/cars. Also I want to know about how much you think my interest and monthly payments would be.
First of all, I am a 20yrs old female (not sure if my age/sex matters) and my credit is in the low 700's. I have 2 credit cards and have never made a late payment on them. I have nothing negative on my credit report. I have 2 part time jobs ( thinking about getting a 3rd). My monthly income fluctuates a little but is never under $1,100/month. Do you think the dealer would even finance a car for me. (I can't get a loan at my bank. They said I have to be 21)
I am not dead set on these but these are 2 cars that I am currently looking at.
http://www.kocourekhk.com/2001-Jeep-Grand-Cherokee-Laredo-Wausau-WI/vd/10479936
http://www.kocourekhk.com/2003-Hyundai-Santa-Fe-Wausau-WI/vd/9898395
Do you think they are decent cars for the price? My limit is $4,000 but I am willing to maybe go up to $6,000 for a Jeep or truck.
I live in wisconsin if that matters.
Any tips on buying a used car and how to negotiate with a car dealer would be much appreciated.
Answer
Well i must ask why are you looking at a dealer? there are only two reasons anybody should ever buy a used car from a dealer. 1. they cant afford to buy a car out right and need financing. 2. the used car comes with a warranty. but most don't. other then that its a better idea to buy from a private party. why? well that jeep you show above listed for 6 grand will cost you closer to 7 grand after the dealer sets up your tags and registration and all that. that jeep i can buy one just like it all day long for about 2 grand. dealers are way expensive i should know. i have been working for dealerships since i was in high school. any used car you get will need repairs. its just the nature of a used car. f the car comes with no warranty then your not gaining anything by buying from a dealer. here ill give you an example. take a look at this picture. go to this link. this is a picture of My Camaro https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/394074_2783510519865_658988738_n.jpg what do you think it cost? well a dealer will buy it on trade for 10% below NADA and then sell it for about 80% above NADA. so the dealer will sell this car for about 6 grand. what did i pay for it? 2,900 sure it needed some work but all used cars do. in 2 months time i spend about 600 bucks on it total. it needed new brakes and some hoses. a water pump and alternator. and it leaked when it rained. i fixed all that and still came under budget. at a total of 3,500 if i had bought it from a dealer i would be in the hole almost 7 grand. so unless your getting a warranty or the only way you can afford a car is thorugh financing then you should stay away from dealerships. now many people think Dealerships and wholsalers are the same thing. they arent. Dealers hold a franchise. such as ford or Chrysler ect. a place that just sells cars is a Wholesaler. Wholsalers get their cars from auctions, and from dealerships that end up with cars that are to costly to repair and sell on their lot. they wholesale these. these cars are the worst of the worst. never buy a car from a wholesaler. never ever ever. i worked for these places before. trust me. at the dealership when we would get cars that have been flooded, or on fire. or cars that needed over 2 grand in repairs. the boss would tell us ok just wholesale it. that was when we would just dump it on the auction lot or sell it at cost to an independent for resale. these are wholesalers. any place that sells cars but dose not hold a franchise ( a common brand ) is a wholesaler. do NOT buy from these places. you know like wayne ford, hutchens chevrolet. Hall BMW. these are dealers. Luxury auto. the auto connection. bobs auto these are examples of wholesalers. get it? ok as far as buying a car and negotiation just look up the NADA and kelly blue book value of the car you want. this will tell you how much its worth on the market. you want to get within 15% of this price. when talking with a seller make your offer low. i mean way low. the kind of low that is obviously not going to get you the car low. for example if the seller is asking 5 you say something like jeez i like the car but i was only hoping to spend around 3,800. the seller will of course say no way. and you just keep making him offers. ok if not 3,800 ill go 4,000. still no? 4,200? get it? and you also can also use some psycology on the seller too. when you get to 4,200 just say oh come on you can go 4,200. 4,300? your convincing him the car is only worth 4,200 is what your doing. see how that works? :-) it sounds complicated but its easy. if you want to see it in action there is a show i watch online called wheeler dealers. they buy used cars fix them up and resell them for profit. they are constantly haggling over price. you can find it on youtube. just watch how they talk over price. its really easy. anyways i told you all there is to know about buying used cars. since oyur not a mechanic i wont get into how to look teh car over for faults. you will need to find a friend that knows something about cars or ask if you can have your mechanic look at it before you decide. sometime people will agree to that. but not always. other then that you will have to use your own judgment.sorry this was such a long answer but i am kind of an expert in this area. :-) there really is a lot to this car stuff. good luck.
Well i must ask why are you looking at a dealer? there are only two reasons anybody should ever buy a used car from a dealer. 1. they cant afford to buy a car out right and need financing. 2. the used car comes with a warranty. but most don't. other then that its a better idea to buy from a private party. why? well that jeep you show above listed for 6 grand will cost you closer to 7 grand after the dealer sets up your tags and registration and all that. that jeep i can buy one just like it all day long for about 2 grand. dealers are way expensive i should know. i have been working for dealerships since i was in high school. any used car you get will need repairs. its just the nature of a used car. f the car comes with no warranty then your not gaining anything by buying from a dealer. here ill give you an example. take a look at this picture. go to this link. this is a picture of My Camaro https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/394074_2783510519865_658988738_n.jpg what do you think it cost? well a dealer will buy it on trade for 10% below NADA and then sell it for about 80% above NADA. so the dealer will sell this car for about 6 grand. what did i pay for it? 2,900 sure it needed some work but all used cars do. in 2 months time i spend about 600 bucks on it total. it needed new brakes and some hoses. a water pump and alternator. and it leaked when it rained. i fixed all that and still came under budget. at a total of 3,500 if i had bought it from a dealer i would be in the hole almost 7 grand. so unless your getting a warranty or the only way you can afford a car is thorugh financing then you should stay away from dealerships. now many people think Dealerships and wholsalers are the same thing. they arent. Dealers hold a franchise. such as ford or Chrysler ect. a place that just sells cars is a Wholesaler. Wholsalers get their cars from auctions, and from dealerships that end up with cars that are to costly to repair and sell on their lot. they wholesale these. these cars are the worst of the worst. never buy a car from a wholesaler. never ever ever. i worked for these places before. trust me. at the dealership when we would get cars that have been flooded, or on fire. or cars that needed over 2 grand in repairs. the boss would tell us ok just wholesale it. that was when we would just dump it on the auction lot or sell it at cost to an independent for resale. these are wholesalers. any place that sells cars but dose not hold a franchise ( a common brand ) is a wholesaler. do NOT buy from these places. you know like wayne ford, hutchens chevrolet. Hall BMW. these are dealers. Luxury auto. the auto connection. bobs auto these are examples of wholesalers. get it? ok as far as buying a car and negotiation just look up the NADA and kelly blue book value of the car you want. this will tell you how much its worth on the market. you want to get within 15% of this price. when talking with a seller make your offer low. i mean way low. the kind of low that is obviously not going to get you the car low. for example if the seller is asking 5 you say something like jeez i like the car but i was only hoping to spend around 3,800. the seller will of course say no way. and you just keep making him offers. ok if not 3,800 ill go 4,000. still no? 4,200? get it? and you also can also use some psycology on the seller too. when you get to 4,200 just say oh come on you can go 4,200. 4,300? your convincing him the car is only worth 4,200 is what your doing. see how that works? :-) it sounds complicated but its easy. if you want to see it in action there is a show i watch online called wheeler dealers. they buy used cars fix them up and resell them for profit. they are constantly haggling over price. you can find it on youtube. just watch how they talk over price. its really easy. anyways i told you all there is to know about buying used cars. since oyur not a mechanic i wont get into how to look teh car over for faults. you will need to find a friend that knows something about cars or ask if you can have your mechanic look at it before you decide. sometime people will agree to that. but not always. other then that you will have to use your own judgment.sorry this was such a long answer but i am kind of an expert in this area. :-) there really is a lot to this car stuff. good luck.
advantages and disadvantages of lowering your car?
Jamie F
hello, i was thinking of lowering my first car.
i am currently a p plater, with a 2003 mazda 6 luxury sport.
my step dad says that once you lower the car, the insurance wont be active on the car because you have modified it in a way.
also with putting some rims on the car.
i was thinking about some 19" rims, the car currently has 17' on it. would this affect my insurance too?
could you please help?
thanks
Answer
In terms of lowering the car...
Advantages...
1. It lowers the profile and wind resistance of the car.
2. It means the car is harder to turn over in a corner, but NOT better grip.
3. Some people think it looks cool.
Disadvantages...
1. The car has been designed by a professional who knows what they are doing, your mechanic will not have done the same sums that the car manufacturer has in order to determine how this will affect your vehicle.
2. The ride becomes harder, as you have less travel in the suspension it has to be harder to support the same weight.
3. It costs money, stupid money and your insurance will go up.
4. If you are in an accident then people will assume that it is the fault of the guy with a modified car.
5. It lowers the value of your car. In part because people will know it has been driven by someone who sees themselves as a racer. Even if I wanted a modified car, I would not buy one that it modified but just modify it myself. That way I would know it has been done properly.
6. Every time you go over a speed bump, you will have to be careful (also hitting curbs).
7. Your warranty will be invalidated (if you have one).
8. If you lower it by clamping down the springs all you have done is take travel out, if you do it with new springs then you will spend a lot on it.
9. Cops will pull you over ALL the time.
In terms of alloys...
Alloys are a modification and no matter what people say you do need to notify your insurance as it does affect the performance and reliability of the car. The lighter a wheel is, the better it grips the road because the amount of time that it is in contact with the road is affected by the ratio of sprung to unsprung weight. Also if the wheel is wider it will have more grip, this is not a good thing as fast starts that were powerful enough to damage the clutch would have spun the power away in a wheel spin, but if it grips then the clutch will suffer the brunt. Also wider wheels giving more grip mean that the calculations that the manufacturer has done to work out whether the car will roll are now inaccurate. With the correct wheels you should not roll with wide wheels you cannot know.
You are likely to spend a lot of money on any modifications worth doing, so much in fact that you are better off just getting a better car (especially factoring in safety and resale values). Women prefer men who drive unmodified cars and in all fairness if you want to be a fast driver then you should just spend the money on track time and tyres. There is nothing better than whooping some kid in a modified BMW with a diesel golf. Speed comes down to the competence of the driver much more than people give it credit for, if you invest in yourself, not in your car then you will always have that skill no matter what you are driving. I have watched a skoda fabia with four old men overtake a race spec porsche 911 (with its driver head to toe in race suit and helmet) at the Nurburgring because the skoda drivers were better. It is also great when you set a good lap time and people ask you what have you done to modify that car, and you say nothing, it was all me.
EDIT: You even have to tell the insurance company if you change your stereo, and that has no effect on performance.
In terms of lowering the car...
Advantages...
1. It lowers the profile and wind resistance of the car.
2. It means the car is harder to turn over in a corner, but NOT better grip.
3. Some people think it looks cool.
Disadvantages...
1. The car has been designed by a professional who knows what they are doing, your mechanic will not have done the same sums that the car manufacturer has in order to determine how this will affect your vehicle.
2. The ride becomes harder, as you have less travel in the suspension it has to be harder to support the same weight.
3. It costs money, stupid money and your insurance will go up.
4. If you are in an accident then people will assume that it is the fault of the guy with a modified car.
5. It lowers the value of your car. In part because people will know it has been driven by someone who sees themselves as a racer. Even if I wanted a modified car, I would not buy one that it modified but just modify it myself. That way I would know it has been done properly.
6. Every time you go over a speed bump, you will have to be careful (also hitting curbs).
7. Your warranty will be invalidated (if you have one).
8. If you lower it by clamping down the springs all you have done is take travel out, if you do it with new springs then you will spend a lot on it.
9. Cops will pull you over ALL the time.
In terms of alloys...
Alloys are a modification and no matter what people say you do need to notify your insurance as it does affect the performance and reliability of the car. The lighter a wheel is, the better it grips the road because the amount of time that it is in contact with the road is affected by the ratio of sprung to unsprung weight. Also if the wheel is wider it will have more grip, this is not a good thing as fast starts that were powerful enough to damage the clutch would have spun the power away in a wheel spin, but if it grips then the clutch will suffer the brunt. Also wider wheels giving more grip mean that the calculations that the manufacturer has done to work out whether the car will roll are now inaccurate. With the correct wheels you should not roll with wide wheels you cannot know.
You are likely to spend a lot of money on any modifications worth doing, so much in fact that you are better off just getting a better car (especially factoring in safety and resale values). Women prefer men who drive unmodified cars and in all fairness if you want to be a fast driver then you should just spend the money on track time and tyres. There is nothing better than whooping some kid in a modified BMW with a diesel golf. Speed comes down to the competence of the driver much more than people give it credit for, if you invest in yourself, not in your car then you will always have that skill no matter what you are driving. I have watched a skoda fabia with four old men overtake a race spec porsche 911 (with its driver head to toe in race suit and helmet) at the Nurburgring because the skoda drivers were better. It is also great when you set a good lap time and people ask you what have you done to modify that car, and you say nothing, it was all me.
EDIT: You even have to tell the insurance company if you change your stereo, and that has no effect on performance.
Powered by Yahoo! Answers
Title Post: How much for down payment on used car?
Rating: 98% based on 9457 ratings. 4,7 user reviews.
Author: Unknown
Thanks For Coming To My Blog
Rating: 98% based on 9457 ratings. 4,7 user reviews.
Author: Unknown
Thanks For Coming To My Blog
No comments:
Post a Comment