Thinking about buying a new car from a dealership?

Question

New 2008 VW Beetle?

I have decent credit. I how much do you think I would have to put down? I'm 100% I'll be approved. About $1000.00 - $2000.00? Also whats the cheapest payment plan per month do they have? $250.00? I'm new at buying a car out the dealer. Any advice? I'm going to set up an appoinment with a administrater from the dealer but I'm too excited to wait for that day, so I want a quick run down on everything I should know.

Thx!

Answer 1

If you can afford it, put 20% down.  10 to 15% is usual, 20% almost guarentees you your loan will be approved.

Talk to your bank and see if you can get financing set up in advance rather than go through the dealer.

Answer 2

Go to your local credit union first and see about getting an auto loan first.  That way you are strictly negotiating the price of the car at the dealership.  The biggest trap consumers fall into is when they are asked "How much are you looking to spend a month?" .  At that point the thing you are negotiating is the payment, not the price.  Another important thing to remember is that dealerships do not necessarily make a lot of money on the sale of the car itself.  The MSRP is normally not a lot higher than what they pay for it.  Where they do make their money is in volume of sales.  In other words, the more cars they sell, the better choice of invoice they will get from the manufacturer as well as what are known as holdbacks.  So, shopping for a car at the end of the month will generally get you a better deal than at the beginning.  My best deals have always been between 6 and 8 pm on the last day of the month as they are always trying to get that one last sale in for the month.  

Shopping for a car should be a fun thing.  Always shop around and look at different cars in the same class.  Never be afraid to walk away from a deal.  

Your best deal on a 2008 will come in the fall right before the 2009's come out.  I did that and purchased my car for $2500 below the dealer invoice.  

Have fun and good luck!

Answer 3

CALM DOWN! The worst thing you can do is go to the dealership all excited & pre-sold, you will over-pay by thousands of dollars. There are plenty of Beetles out there, make the dealership earn the sale.

Don't buy any car, new or used w/o reading up here:

http://www.usedcartips.org/index.html

Also check out, "drive free, retire rich,"

http://www.daveramsey.com/etc/lms/drive_...

But, I DISAGREE with Dave Ramsey on putting money in a Mutual Fund, better to use an annuity, CD or money-market. I've had a Mutual Fund crash, taking with it my "investment" I now avoid the Stock Market, except for gambling money.

A friend once told me, "when you earn a dollar your lucky to get 80 cents, but when you save a dollar you get the whole dollar, so it makes sense to work harder to save money than you do to earn it."

Answer 4

Visit web site: " Fighting Chance .com " It will give you a lot of information on how to go about buying a car . Please don"t go to dealer before you read their info Ok ! Another good site I found helpfull :  Car Buying Tips.com

Answer 5

Pretty much everything Ryan V stated I agree with also, dealers have a quota.  If they reach the quota the manufacturer will pay them a bonus for every car they sold that month.  End of the month they usually make better deal.  You should never pay more than $500.00 above invoice.  Make them show you the invoice.  If not then go to another dealer.