Buying a car

Process of obtaining a loan

• Contact a banker
• Have them review your debt and previous loans (make sure they are paid off)
• find out how much your CURRENT car is worth as a trade in
• Determine how much of a down payment you can make
• Apply somewhere where you get the BEST rates
• Wait for your application to be viewed (may take awhile)

 

A down payment on a home is crucial >>>

• Larger down payment will result in a lower payment
• Reduce the size of loan if you pay more every month
• The longer the loan, the more you will pay in interest

Basically... The bigger the down payment, the less you are paying essentially! :)

TIPS TO BUYING A NEW CAR >>
VIDEO : http://www.youtube.com/watch?v=FQEAFGd_-JM
NEWS ARTICLE : http://www.bestofneworleans.com/gambit/car-buying-tips/Content?oid=1584249


Three things to know when buying a car >>>

1. Set a target price, and stay within your budget no matter what!!
2. Pay back your loan!!! (or pay in cash).
3. Get a good down payment, and good rates

Why does the value of a car change over time?

It changes with buying a car because... basically the value of a car decreases from when you first bought it. And over time, they get better and people do not want to buy them for as much as a new car!! :)