How do I buy this car?

Question

I went to the dealership and got papers about my car so that I can take it to my credit union to get an auto loan. But then when I got their printed off, Kelley Blue Book, about the car, it shows the price different from how much they are selling it for.

*Total Wholesale/Retail Value .................... $9,600/$13,415*

That's what shows on the Kelley Blue Book paper that they gave me

But at the dealership, what's posted on the car shows that the price is $8,495. And I got another paper from them that shows other money added into it such as

Doc Fee - $388

LAH Premium - $235

Total Fees - $255.75

Total taxes - $662.61

And then the actual total came up to about $9,801.36. Is this the price I tell to my credit union?

Sorry I am a first time buyer and confused.

Answer 1

Yes that is the figure you tell the credit union. You may try to haggle it down a bit more. remember, every penny you save is another penny you don't have to pay interest on.

Answer 2

I'm not a first time buyer, and I'm confused too.  The only one that can explain what the numbers mean, and what the real total will be, is the dealership.

Bu the way, I add it up to be $10,036.36 given your figures.

Answer 3

The wholesale price is what the dealer will pay for the car. The retail price is what you and me will pay the dealer for the car. So the dealer can sale the car for $13,415 if they wanted to. If you're paying less than $13,415 then you're getting a good deal (assuming the car is in good shape). Looks like you're paying less than $10,000 for the car. Show the credit union all of the papers the dealer gave you. The credit union should verify the price with the dealer and you.  Since it will be the credit union that will pay the dealer for the car the credit union will give the dealer a check for the correct amount - not a penny more.