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So as the title suggests, I am looking to buy a car for the first time ever. I’ve leased about 6 cars in the last 18 years, but never actually purchased one and of course, I have some questions =)
Any other tips would be greatly appreciated. As I mentioned earlier, I have NO experience in buying cars. I can haggle over a lease price with the best of them, but unfortunately my credit is still about 680 and the FICO Enhanced Auto BS Score can’t even be checked. Otherwise I would lease because it makes more sense to me.
Thank you!
Purchasing a car is not as daunting as you think.
1. This is a tricky question: a) if you know what car and you want and how much it costs, then that's great. b) if you DO NOT know, then have an idea of how much the car you may want costs and then get a loan pre-approval
2. I'm not sure about this since I've never had an issue with obtaining the best rates available.
3. Yes, it's worth dealing with private sellers. The price is often less than what you'll negotiate with the dealships.
4. You may apply to as many as you wish. Try to pit one lender's rate against another or against the dealership.
5. I am partial against CarMax, but there are numerous "happy" stories online about CarMax vehicles.
6. You will pay taxes regardless of purchasing from a private seller or dealership. The question will is whether the lender will approve a loan in excess of the vehicle market value to assit in covering taxes. Some lenders will provide loans up to 120% of the vehicle market value.
What kind of cars you been leasing?
are you looking to buy the same kind?
you have lease now about to end or no car currently?
Well, have things changed or have things changed? LOL
After everything I went through with this research, I was finnally able to actually lease what I wanted and got an amazing rate with almost no drive off cost for a 2014 Acura TL with Tech package. Leasing is great and this car is amazing. I might just buy it out once the lease is over =)
Thank you for the answer to my original questions!
@felyasocal wrote:Well, have things changed or have things changed? LOL
After everything I went through with this research, I was finnally able to actually lease what I wanted and got an amazing rate with almost no drive off cost for a 2014 Acura TL with Tech package. Leasing is great and this car is amazing. I might just buy it out once the lease is over =)
Thank you for the answer to my original questions!
Nice, congrats.
what score did they pull? Tier 1?
Lol. Quiet the opposite. They used Experian and the Auto score was under 600. I used someome with better credit as a coapplicant and they approved me. The dealer was shocked, but i serious got amgreat deal. $43k car for $1000 total drive off and $400 a month for 35 months.
I am honestly not sure how these scores work these and if they are even legit or there is something else at play here. I've had another car lease under my name formthe last 6 months and had flawless credit for rhe last year and still my Auto score dropped and standard FICO is stagnant. I am doing everything by the book. I have done my resewrch.
Sad, but true. And thank you!