I hope it's not taboo or already covered in detail somewhere that I haven't looked, but I would like to get some advice on buying a new car. The last vehicle I bought was a certified used pick-up from Toyota, but this was 7 years ago and at the time I didn't have a credit history and the dealer was getting slimey so my grandfather paid for the truck outright, and I made payments to him.
I have established a clean credit history since then. I am not carrying any debt at the moment. I rent. I am not over extended when it comes to rent:income. I think my drive off the lot price for this car will end up around 28-29,000.
I know there are more variables involved than that, but I'll start with those. I've looked into a car loan through my bank, and it's currently around 3.75% for a 3 year or 4.25% for a 4 year.
Should I try to put as much down as possible, or put down a minimum and keep that money liquid? I'm not sure what to expect when the guy sits me down with all the paperwork. I am form-phobic. I've been bracing myself to just keep saying "No" when/if all the little sales pitches start to come at me.
Anyone care to share your thoughts or experiences on this?
Thank you.
I have established a clean credit history since then. I am not carrying any debt at the moment. I rent. I am not over extended when it comes to rent:income. I think my drive off the lot price for this car will end up around 28-29,000.
I know there are more variables involved than that, but I'll start with those. I've looked into a car loan through my bank, and it's currently around 3.75% for a 3 year or 4.25% for a 4 year.
Should I try to put as much down as possible, or put down a minimum and keep that money liquid? I'm not sure what to expect when the guy sits me down with all the paperwork. I am form-phobic. I've been bracing myself to just keep saying "No" when/if all the little sales pitches start to come at me.
Anyone care to share your thoughts or experiences on this?
Thank you.