My First Official Visit To a Car Dealership.

[CantStop]

lmao @ having no money, a broke ass car, no credit and you're being pulled into a car dealership against your will just because your white nubian queen asked you to. She probably ridiculed you to her parents the same day.

embarrass yourself for a white girl brehs

 

[ThugLife]

Damn ur poor

 

[Teal.]

$500?

 

[KritNC]

people get cars with out down payments and w/ shytty credit all the time, actually salesmen like this more because they can add points to the rate and make much more money off you, they do not care if you pay the loan or not that has no effect on them. I feel like you just walked in there with some preconceived notion and went about making sure it came true

 

[HarlemsOwn]

a grown ass man coppin a hyndai

that shyt is for 18 year old female college students

get a grown man car

 

[DrX]

i like the fact that the TS made the first letter big and bold....propz

 

[Alchemist]

Y'all are funny as hell!! HAHAHAHA.

I'm a love it here

Some of you nikkas should be full time comedians.

@HarlemsOwn nikka, the fukk is a "grown man car"?

If it gets to work and home, it's grown enough. You wouldn't buy a Hyundai because you think it belongs to 18 year old females?

C'mon, son...

 

[Numpsay]

You already lost if you have to walk in and waste hours in a dealership.

Send emails, forward deals amongst dealers, let them compete to offer you the best deal, go with the best option. Have them deliver the car.

 

[Alchemist]

people get cars with out down payments and w/ shytty credit all the time, actually salesmen like this more because they can add points to the rate and make much more money off you, they do not care if you pay the loan or not that has no effect on them. I feel like you just walked in there with some preconceived notion and went about making sure it came true

That's kind of the logic associated with no down payment. It's really all preference. A down payment will get you a lower monthly payment for the duration of the contract. No money down will launch you pass the 300+/month range, along with, potentially, a higher interest rate. I was willing to pay that much, but in reality, I just went in there to kill time until medicine from Walgreens was ready to be picked up. I thought it just made for a funny story. More or less a lesson of why credit is everything in this world.

 

[KritNC]

That's kind of the logic associated with no down payment. It's really all preference. A down payment will get you a lower monthly payment for the duration of the contract. No money down will launch you pass the 300+/month range. I was willing to pay that much, but in reality, I just went in there to kill time until medicine from Walgreens was ready to be picked up. I thought it just made for a funny story. More or less a lesson of why credit is everything in this world.

Kind of contradicting your self here you saying you think down payment or credit is more important. Honestly your apr is normally based on the equity of the car so if your financing 140% of what the car is worth your looking at double digit rates where as if you only need to finance around 90% you got single digits its a little combination but more heavily weighted towards equity in the vehicle. Might type a post up of what to avoid when financing a car since I work in the industry

 

[Alchemist]

Kind of contradicting your self here you saying you think down payment or credit is more important. Honestly your apr is normally based on the equity of the car so if your financing 140% of what the car is worth your looking at double digit rates where as if you only need to finance around 90% you got single digits its a little combination but more heavily weighted towards equity in the vehicle. Might type a post up of what to avoid when financing a car since I work in the industry

Can't be contradicting myself when nothing is being compared. Credit is everything. You can't get approved for financing without credit. And even if you did, your rates would be unfavorable. Not sure why you went through all that... All your statistics discussions first begin at credit approval; that's the fundamental building blocks to even being able to discuss financing with an institution; Vehicle equity... Okay. But we're talking about taking out a loan; the car was to either avoid the down payment, or lower it. But so far as financing through a bank, you can't seriously be saying denial or approval doesn't come from the integrity of your credit history.

Vehicle equity is discussed during the procedure to trade in. But most dealerships don't finance you themselves. It's outsourced to banks. Banks look at credit. Period. They don't look at the value of your vehicle and say, "Yup, he can get approved." Again, if you're in the industry, I'm not sure why you're arguing this..

 

[KritNC]

Can't be contradicting myself when nothing is being compared. Credit is everything. You can't get approved for financing without credit. And even if you did, your rates would be unfavorable. Not sure why you went through all that... All your statistics is wrapped around credit; that's the fundamental building blocks to even be able to discuss financing with an institution; Vehicle equity... Okay. But we're talking about taking out a loan; the car was to either avoid the down payment, or lower it. But so far as financing through a bank, you can't seriously be saying denial or approval doesn't come from the integrity of your credit history.

Ok well you can have a Bankruptcy, multiple auto charge offs, be late on your mortgage, have collection accounts, and have a sub 500 credit score and still get approved for a loan easily. Keep in mind this also depends on what your payment to income and debt to income ratios are; so if you have all the above listed making $1,400 a month, yea you will probably be turned down or charged an absurd rate. But if you have a shyt credit score and have great income w/ some money down and the dealer is not marking the car up 20-30% over invoice you will be fine.

 

[Alchemist]

Ok well you can have a Bankruptcy, multiple auto charge offs, be late on your mortgage, have collection accounts, and have a sub 500 credit score and still get approved for a loan easily. Keep in mind this also depends on what your payment to income and debt to income ratios are; so if you have all the above listed making $1,400 a month, yea you will probably be turned down or charged an absurd rate. But if you have a shyt credit score and have great income w/ some money down and the dealer is not marking the car up 20-30% over invoice you will be fine.

Payment to income, debt to ratio does play a large role. That's true. I work at a bank that's strict on loans.. Most of what I have comes from my proof of income, while my credit history builds up. So I can personally relate. All that stated, the bolded is something I wouldn't even encourage. If you have shyt credit, work hard, and get that score back up to where it needs to be to take advantage of the best offers. We can't assume everyone makes enough money that supersedes the need for credit. And the threshold to accomplish such a feature isn't equal to the average American salary. If you even make enough to where you believe you don't need satisfactory credit to acquire a vehicle, I'm not sure how you got shyt credit in the first place.

 

[KritNC]

Payment to income, debt to ratio does play a large role. That's true. I work at a bank that's strict on loans.. Most of what I have comes from my proof of income, while my credit history builds up. So I can personally relate. All that stated, the bolded is something I wouldn't even encourage. If you have shyt credit, work hard, and get that score back up to where it needs to be to take advantage of the best offers. We can't assume everyone makes enough money that supersedes the need for credit. And the threshold to accomplish such a feature isn't equal to the average American salary. If you even make enough to where you believe you don't need satisfactory credit to acquire a vehicle, I'm not sure how you got shyt credit in the first place.

All I am saying is that there are equally important factors as credit and downpayment when considering a loan

 

[itsyoung!!]

people get cars with out down payments and w/ shytty credit all the time, actually salesmen like this more because they can add points to the rate and make much more money off you, they do not care if you pay the loan or not that has no effect on them. I feel like you just walked in there with some preconceived notion and went about making sure it came true

This is by far the worst post ive ever seen regarding purchasing a car

1. Car dealerships like people with better credit, because the lower the interest rate (because of good credit) gives more room for negiotating your monthly price and them still making good money on the front (sales person) and back end (finance person). Dealerships only get paid off 2 points. If you only get approved for 20% how the fukk the dealership gonna get paid off you financing the car for 20%?? They cant tell the bank to give you 18%...

But if you got approved for 3%, they can start at 8% and go down from there without touching the CAR PRICE but adjusting the INTEREST rate to lower the payment to what you want.

2. Bad credit = bank deal. What that means is that if the car is $14,000, but you have fukked up credit, the bank WILL do the DEAL but wont ACCEPT the $14,000 deal from the dealership. Instead they will only approve your deal for say... $8000. So now the dealership makes little to no money off you (depending on what they got the used car for, let alone a new car which you wont get approved for period if you have bad credit)

3. Down payment = lower monthly payment and more room for the dealership to make money through negotiating. You having no down payment, means they have no where to go but down as far as profit.

just stop posting in this thread... i literally almost fell out my chair reading your horrible advice/post.

also fukk the original poster for wasting someones time knowin you aint shyt..