Yo I need everyone help, so I plan on getting a new vehicle sometime in the next 6-7 months. Ive heard that its best to get preapproved which I plan on doing with the same credit union as my last auto loan since I have history with them and they gave me a great rate last time. My question is when I get preapproved do they write me a check and thats what I give to the dealership or how exactly does that work. Also will they tell me at say 48 months for this amount your monthly car payments will be....
Lets say Im approved for $30,000 but the car I get is only $25,000, can I use the remaining $5,000 as a down payment?
Do I tell the dealership that Ive been preapproved as soon as I meet them or first tell them what Im looking for and wait for them to bring up the price discussion first. Any other tips you can give me would be appreciative. Ive only bought one car before and that was from car max so you cant haggle the price so it was simple and to the point. Ive gone with friends and family in the past to help them with buying a car and hated the experience. I dont like car salesman
If I get say a 2013 or 2014 car do you suggest getting additional warranty at the dealership