I am going to the Toyota dealership tommorow to look for buying a used car.

I have to take out  of a car loan, my max limit on cost (even with the down payment) is around $13k. The car loan would be (hoping anyway) 72 months. Max payment per month is around $200 - $250.

Anything I should know before walking in? This will be my first time in looking to buy a car from a dealer, my last two were from friends/relatives.

I have this going for me:

I work for the State. (decent job security)
I make 20k + a year.
I have both a credit union and IRA, if I need to dip into emergency savings.
I've had a credit card/savings/checking account of my own for more than year.
Willing to put down around 3k for a downpayment.

What I have going against me:

College student, working part time.
've had a credit card/savings/checking account of my own for more than year.(can go either way.. its good, but bad also)
I am young (21)
Parents aren't going to co-sign.


Anybody have any experience with this? Would appreciate it.. thanks.

Btw; the Car I am looking into getting is a Toyota Celica.. if you were wondering.

Oh dear God, you're like a lamb being led to the slaughter. STOP!!! Before you do anything, PLEASE for the love of God, read this:

www.carbuyingtips.com/

Quoted: Oh dear God, you're like a lamb being led to the slaughter. STOP!!! Before you do anything, PLEASE for the love of God, read this: www.carbuyingtips.com/

LoL

My Uncle used to be a car salesman.. he said to be prepared to walk away at anytime.

I am (hope so) smart enough to look past the sugar coating and bullshit that they try to dangle in front of you.

I tend to be very cynlically minded.. which helps.

Just don't fall into their traps; main thing I can recommend is that you agree upon the purchase price first. Don't get into a "bidding war" on monthly payments, as a matter of fact don't even let them know what you want to spend per month. And lowball, all they can say is no.

ETA: yes, be prepared to walk away.

3k down means 10k financed.  I just financed 4.5k for 2 years at $213 a month at 10.9 APR.
So if you go 5 years (usual limit on used cars, they can actually be harder to finance a new one sometimes) you should be able to get it at just under 2 a month.  

Get the loan from someone (credit union, say) other than the dealer.  With your situation, you will probably not qualify for any of the low finance rates that are advertised, and the "dealer participation" means they will  make extra money on getting you a loan.

Why not just get something you can buy in decent running condition for the $3,000 you have now?


ETA as others said don't deal (with them) on the basis of what payment you can afford.  Smoke and mirrrors, you will pay out the a** in interest.

Quoted: Quoted: Oh dear God, you're like a lamb being led to the slaughter. STOP!!! Before you do anything, PLEASE for the love of God, read this: www.carbuyingtips.com/ LoL My Uncle used to be a car salesman.. he said to be prepared to walk away at anytime. I am (hope so) smart enough to look past the sugar coating and bullshit that they try to dangle in front of you. I tend to be very cynlically minded.. which helps.

What's your credit score?

Quoted: Quoted: Quoted: Oh dear God, you're like a lamb being led to the slaughter. STOP!!! Before you do anything, PLEASE for the love of God, read this: www.carbuyingtips.com/ LoL My Uncle used to be a car salesman.. he said to be prepared to walk away at anytime. I am (hope so) smart enough to look past the sugar coating and bullshit that they try to dangle in front of you. I tend to be very cynlically minded.. which helps. What's your credit score?

Don't know, got a link from that website... gonna order it today.

Quoted: Why not just get something you can buy in decent running condition for the $3,000 you have now?

Good question.

G

Quoted: Why not just get something you can buy in decent running condition for the $3,000 you have now?

Always had my heart set on this car... and they stopped making them last year.

I need to give up my current model to my brother, so, I am looking for another one.

My $.02 worth. My last 2 car purchases were 1 year old cars with about 7-10k miles on them.  I got each for over $7,000.00 off their sticker BEFORE even seeing them using the fax method described below.  I heard about it from a BMW dealer and it has worked for me twice!

1) Know EXACTLY want you want before sitting down with a dealer.  Learn EVERYTHING you can about the make and model you are interested in. Different motors and transmissions, body styles, sport packages, available options, interior styles  colors etc etc etc.  RESEARCH how much $$ cars with similar options are going for.  use this as a GUIDE.

2) Draft up a list of your likes / dislikes from #1 above and fax (yes, seems oldschool) your list to local dealers with what you are looking for.  Only give your last name (Mr. VooDoo)  Ask in the fax for them to return their availability to you by fax.  I did this at age 17 when the dealers teated me like crap in person and tried to sell me junk yard look a likes for thousands more than their value.

3) Above all else, go to the lot  KNOWING you can always come back another day, week, month and get something VERY comparable.  Keep telling yourself YOU DO NOT NEED TO BUY ANYTHING TODAY!

Best of luck, and report back how you do.

Buy a financial calculator, learn how to use it and bring it with you. They'll know you're  not going to be taken. Sounds stupid, but my wife had hers when we bought my car and we weren't jerked around.

I just bought my credit score, 748 out of 830. Pretty decent I think?

Quoted: I am going to the Toyota dealership tommorow to look for buying a used car. I have to take out  of a car loan, my max limit on cost (even with the down payment) is around $13k. The car loan would be (hoping anyway) 72 months. Max payment per month is around $200 - $250. Anything I should know before walking in? This will be my first time in looking to buy a car from a dealer, my last two were from friends/relatives. I have this going for me: I work for the State. (decent job security) I make 20k + a year. I have both a credit union and IRA, if I need to dip into emergency savings. I've had a credit card/savings/checking account of my own for more than year. Willing to put down around 3k for a downpayment. What I have going against me: College student, working part time. 've had a credit card/savings/checking account of my own for more than year.(can go either way.. its good, but bad also) I am young (21) Parents aren't going to co-sign. Anybody have any experience with this? Would appreciate it.. thanks. Btw; the Car I am looking into getting is a Toyota Celica.. if you were wondering.

Once you get past all the helpful info the bean counters give ya...

Buy the damned optional turn signals and USE THEM!

Quoted: 1) Know EXACTLY want you want before sitting down with a dealer.  Learn EVERYTHING you can about the make and model you are interested in. Different motors and transmissions, body styles, sport packages, available options, interior styles  colors etc etc etc.  RESEARCH how much $$ cars with similar options are going for.  use this as a GUIDE.

Done. Been researching this car for awhile, a friend of mine owns one.. I got in one, drove it around for a bit.. I loved the feel, and the style. They're rated very high by my friend, and consumer reports. Plus, its Toyota..

2) Draft up a list of your likes / dislikes from #1 above and fax (yes, seems oldschool) your list to local dealers with what you are looking for.  Only give your last name (Mr. VooDoo)  Ask in the fax for them to return their availability to you by fax.  I did this at age 17 when the dealers teated me like crap in person and tried to sell me junk yard look a likes for thousands more than their value.

I looked via online on Toyota's "certified used car search", I found one at a local place for around 13k. I am going there tommorow to investigate. I'll keep that in mind, if nothing else turns out.

3) Above all else, go to the lot  KNOWING you can always come back another day, week, month and get something VERY comparable.  Keep telling yourself YOU DO NOT NEED TO BUY ANYTHING TODAY! Best of luck, and report back how you do.

Rgr that. I am not in a hurry, I've been looking at doing this for almost a year now.

Quoted: Shop your dealer like you shop your car and be prepared for a bunch of crap being so young. Do not let them talk to you in terms of monthly payments - only the bottom line. Get the loan from anyone else. Get the car from Costco or Sams Club's fleet buyers and avoid the hassle if you don't like to play the game. Know what the car is worth prior to starting off. There's like ten primary games the dealers play ... I don't have the time to teach them all to you. Just understand that they are professional car salesmen and are going to get every dime from you unless you fight back and don't fall for the car. Once they see you like the car enough, there's blood in the water and the sharks will circle. Go with someone more experenced and take your time and talk it over with the second guy. I love car shopping. I've bought a couple of dozen cars with guys that work with me ... love to play the game.

Costco Fleet Buyers? Whats that? Never heard of it...

Quoted: ..... Do not let them talk to you in terms of monthly payments - only the bottom line. ...

Yep, and by "bottom line", mean the "out the door" total cost, including everything, taxes, fees, etc.