Question:

First car...?

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I'm saving up to buy a car in a few months. I'm going to college soon and will obviously be buying a used car [sedan model, probably a Saturn/GMC/VW/Honda depending on what I can afford]. What's the best downpayment to make for low monthly rates? On average, how long are most car loans? What's interest on average. What's the best way I could save money for the downpayment these last few months [earliest I plan on buying it is December or January 09']? How do I get the best deal? I'm a waitress and don't make a lot--but as I live at home I have no bills and am able to save. I'm in way over my head and any advice would be GREATLY appreciated.

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  1. You once visit the http://www.cardollarsforall.com/ and there you can clear your all doubts as they also provide students loan which you have to pay off after you complete your studies and start earning. So go ahead and get all the related information. If you will ask your doubt to many people you will come across many confusion so its better to consult to the financial institution rather than asking many of the people.


  2. There is no average.  Loans range from 12 months to 100.  The age and miles on the car determine how long a loan you can get.

    For best value, look for a car on the forty five degree angle of the depreciation curve, that being about three years old for most cars.  Some only two.  This is where they have fallen the most in price, but are still young enough to give good expectation of long life.  Cars twice the age are often only 25 to 30 percent less money, but have way less service life remaining.

    If you are a first time buyer, bring a good co-signer, or you will pay really high rates.  The co-signer should be someone who expects you to pay timely and is not afraid to make the payments if you can't.  With no co-signer, you will get thumped on the price and on the rate.

    The bigger your down payment, the better off you will be in every case.

    Frankly, the GM / Saturn mention in the same sentence as Honda is surprising.  The Japanese brands are generally better (Honda, Toyota and Nissan) than any GM label, including Saturn (Saturn is GM).  Ford has gotten better lately, and Chrysler is up to Japanese quality and durability standards, though their fit and finish are a bit weaker.  For bang for the buck, look to Hyundai and Kia (the Kias are a bit more refined).  The Korean brands approach Japanese quality and durability for significantly less money.

    Avoid VW at all cost, unless you enjoy paying for repairs

  3. TRY GETTING A HONDA CIVIC OR ACCORD THERE REALLY GOOD AND THEY DON'T COST MUCH ,IT ALL DEPENDS ON THE CREDIT SCORE YOU HAVE IF U GET A CO SIGNER IT WOULD BE BETTER NORMALLY LOANS ARE FOR 5 6 YEAR AND IF THE CAR COSTS AROUND 16 OR 15 THOUSAND DOLLARS PLUS THE REFINANCING ITS LIKE 4 5 G'S MORE SO THATS LIKE 20 THOUSAND AND IF GIVE 3 THOUSAND DOWN IT COMES DOWN TO 17 G'S SO NOW DIVIDE THAT IN  5 YEARS 60 PAYMENTS AND U I'LL GET YOUR MONTHLY PAYMENTS IT WOULD  BE LIKE 285 AH MONTH ,,SO YOU COULD HAVE AN IDEA YOU KNOW GOOD LUCK ;)

  4. If i were you i wold buy a beater for a couple of grand.

  5. Why dont you just buy a $2000 used car and be done with it? A $2000 car will last just as long as an $8000 car, difference being that you wont have to pay the full coverage insurance, You`ll have much less-to-No depreciation, and if you get a `95 and earlier car, you`ll have less of that annoying $300 "check engine" light thing to have looked at.

    I drive an `86 Plymouth, get 23mpg in town, and have had no problems in the 4 years I`ve owned it. I just put front brake pads on it this week, $13 and did it myself.

    My Brother in law bought an $8000 taurus, and had to replace the engine as the warranty had expired...same as any $2000 car!
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