How to Get a Car Loan (The Right Way)

I'll explain how to finance a car loan the right way!
Check out LightStream Loans if you're looking to buy or refinance: bit.ly/auto_loans_ls
(I may be compensated by LightStream through this link.)
When it comes to car loan financing, you've got to understand how it all works, so you don't go upside down in your car, and get ripped off at the dealer. I'll teach you how to finance a car by teaching three simple parts to the process. Enjoy the video and feel free to leave a comment or concern. Thanks.
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Disclaimer: I am not a financial advisor. These videos are for education/entertainment purposes only. Investing of any kind involves risk, so please conduct your own research.
#honestfinance #carbuying #carfinacing

[@memoryigo]

One thing he forgot to mention in the video is always pay more than your minimum payment whenever possible so that you can pay off the car earlier i paid my car off a year earlier doing this

[@HonestFinance]

Good call. Thank you

[@1957346]

So i assume you pay less.? Its different from actaully loaning money from an agency right, because one time i borrowed 500$ and i had to pay back 600$ in one year i believe but i decided to pay it back in 6 month i still had to pay the full 600$ which i thought i had to pay less since i paid it before of time lol but i guess thats how them make money

[@jazminewashington9197]

Esteban Peralta some auto loans charge you when you pay earlier, it’s called a “repayment” fee, Ford charges it on their ford credit loans. So it’s best to just pay on your due date for your payment just a larger amount if you can, so you can avoid all fees.

[@TerriJBrown-dz1lw]

So true! That's my plan!

[@FluffyWolfMan]

@@profribasmat217 you sound very professional calling someone that. Especially after claiming to be college professor. Just like you said yourself, if you do Bi-Weekly payments you make an extra payment each year. If you do that from the beginning you are directly attacking the interest of the loan and shortening the loan at the same time, so therefore you pay less interest for the entire loan. It has been proven time and time again.

[@SketchRC]

This guy killed it! I just bought a car at 22, still in college (last car was totaled), and after watching this video I feel a lot better about the money I’m paying. One thing I might add is, if you can wait, wait until the end of the year when car companies are trying to boost their sales numbers to investors. They’ll offer some crazy deals and interest rates. For example, I got a 60 mo, 0.9% APR loan after getting $4000 off MSRP from the dealer-all because they need those year-end numbers.

[@roseroxx2773]

On IG

[@kennethlorenzg]

Did they voluntarily brought that up when you’re buying ?

[@stinkothestooleater4490]

Shit well I hope my car lasts me till the end of the year

[@maeg.9123]

Wait until December??

[@baddonkey75]

​@@kennethlorenzgyah they let you know all the business ins and outs. Anyone who's worked in retail sales know how the business works, why tools at Lowe's come bundled with the stupid craftsman flashlight,cause investors don't see the bundles just units sold.

[@xBloodXGusherx]

This is the most stressful S**T. I don't even want to step foot into a dealership.

[@HonestFinance]

It’s s bit overwhelming :)

[@Mannycreated]

You just have to break the salesman loose before you do!! I took about 30 mins negotiating with the guy and I won lol

[@auntyuber5127]

I had nightmares for days after going to dealership. Not worth it. Now I go thru the ads and have a mechanic check it out before any deal is made.

[@rorror1235]

Not really. If you know your credit score you can shop around for rates at banks/CU's. Banks are a service. Their service is to loan money with interest... Focus on what you can afford and keep that to yourself. What you talk about with dealers is how much the final price should be.

[@avxrevo]

Then don’t. Buying off people selling their used cars is better than buying at a dealership.

[@seeth.4844]

Usually the best thing i like to do, is 1. Research the car you want to buy, what options does it have that you like... (bluetooth, nav, reverse camera, Etc) 2. Shop around (Get preapproved before you walk into the dealer) credit has changed where you can have inquiries on your credit (multiple) within the first two weeks. It will only count as one. 3. Make sure you have at least 2 pre approvals before going to the dealer. If you want to try the dealer financing, go for it. The worst that could happen is they offer a higher interest rate, Etc. 4. Newer cars depreciate faster but they are easier to get an MSRP on and negotiate, while as used cars typically are marked up significantly (do more research when looking for used. Prices vary wildly) 5. Don't be afraid to walk away, this is the best part about having a pre approval. You can always go somewhere else, dealers will always try to get the highest they can first. Don't let them control what you are going to pay.

[@kenandemren6290]

I'm a finance manager at a dealership, GREAT video. A lot of people don't understand how all of this truly affects them unless they watch videos like this. ONLY correction is that in some states, warranty is non-negotiable (like in Florida). I bought mine for the same price as a customer would.

[@HonestFinance]

Thanks for the comment and the Florida detail . They seem to have a lot of rules

[@roseroxx2773]

On IG

[@sasukedemon888888888]

If you were a finance manager at a dealership. Could you give a little insight on a situation? I have my eyes set on a passenger truck. Honestly, it's in bad condition. Peeling paint, scratches, busted tail light, and a horrible (and illegal) tint job on all windows, including driver window. Mainstream big brand dealership wants 6k for it, and refuse to finance it, they only want full price in cash, price is non-negotiable according to them. (2001 with 201k miles)

[@vee7403]

wish i could learn this stuff in high school instead of useless math formulas🤠

[@HonestFinance]

I feel ya

[@aaronnava3254]

This is the shit they need to teach you in school instead of all that shit crap that I can't remember.

[@stithis]

They do teach it, just go to college

[@NeoJSsk]

Is not smart to teach this type of things in school, Government would hate snd be mad if they teach people

[@brxndonl1927]

Use the math formulas that they taught you🤡 I used to think that way until I really started looking into it.

[@warbirdlover2766]

Thank you, this is very helpful! I've owned one car for over 12 years and payed for it outright. But now I'm stepping into the newer vehicle arena and this is definitely the area I'm a little unclear about.

[@raytaylor332]

Thank you for this. Walked into a dealership. I am what is deemed a "new borrower". $5,680 car after taxes fees and $1,800 down. 2014 car. These joker's gave me a 22% interest rate, $221 for 57 months. 12,680 total payments. They saw the back of my head so fast.

[@HonestFinance]

Wow! On that cheap of a car, that’s insane

[@AJ-ed7mx]

Im shocked a dealership would even offer financing on a car so cheap. Its the way she goes

[@CSSuccessGamer]

wow , Yea those dealers are total scammers. I bet you they slapped in other fake fees like extended warranty too. Warranty doesn't work on a car that's already broken.

[@halftruthhandyman]

Having a longer loan (6 years+) isn't bad if you have the right game plan. If you're just going to keep your same job for the next 3+ years, it might just be bad. In that time, you can do many thing to earn more money to pay off your loan quicker to avoid big interest.

[@Greg-vq9tu]

Wow! This guy is great. Super useful advice and down-to-Earth explanation

[@saram263]

Great advice, thank you :)

[@pdxproductions7442]

Thank you for the great advice.

[@yeseniaortega8351]

Thank for simplifying the process and saying it in plain english with little jargon.

[@phillipinterstate]

Always, always check with your insurance before buying a car, especially if you use a broker. I get so many younger drivers come into the office to get a quote only to find out that their insurance costs more than their car payment (California) and have to either take the car back or beg their parents to help them out. And if you use a broker you may have to pay another fee to switch to a cheaper company.

[@joyndem6574]

This was really informative. Thank you for the break down and tips.

[@jobisaiah8901]

A video that is right on spot. Thank u. U got new subscriber.

[@roseroxx2773]

I just got a Toyota corolla omg I'm really happy😊 thanks for the paystub

[@KingDrewPhilip]

I fully own my 2008 Lexus IS 250. She’s 13 years old now but rock solid. I want a new Lexus but they’re like $40k and why would I finance when my current car still looks timeless? Lexus , some of their cars last the test of time and remain stylish years later. Good advice in this video. I sent a link to my friend who’s looking for a car now.

[@user-rp6id9vs7e]

You were spotless in your explanation couldn't have made it any more easier to understand. Thank you!

[@HonestFinance]

You’re welcome

[@patokim3427]

best advise i have gotten in a looong time,bless you.

[@HonestFinance]

Hey thanks!!

[@entirelypossible1038]

I got a 20,000 loan for 6 years at 17.5%. Biggest mistake financially I've ever made and made me broke for a while but ended up paying it off in 4 years. I went through business school and would cringe thinking about the deal I signed before.

[@HonestFinance]

Ya that’s a bad loan. You live and learn

[@Grim_reapercy]

How was it a bad loan ?

[@HonestFinance]

That’s a terrible interest rate

[@TheLondonCyclist]

@@Grim_reapercy 17.5% bro... he might aswell have bent over and let the car dealer stick a strap on up his hoo ha

[@TerriJBrown-dz1lw]

Great video! I did my research for a few weeks before buying and just purchased my car yesterday! Though I'm just seeing this video, I used these exact steps and was quite pleased with the outcome. Great price on the car, decent down payment and low interest rate. Take his advice, as this is solid!

[@roseroxx2773]

On IG

[@roseroxx2773]

Cyber Credible legit paystub maker

[@roseroxx2773]

They're highly recommendable I got biweekly stubs from Cyber Credible

[@englee2006]

Thanks for this info, Jason.

[@HonestFinance]

You’re welcome

[@kevinramirez6772]

Good and well explained video. Very helpful. Thanks

[@HonestFinance]

You’re welcome. Thanks for watching

[@elas2k159]

Thanks man I'm 20 years old and I had an idea how car loans worked. Your video really tied up all the questions I had up. Thank you for the video

[@HonestFinance]

You’re welcome. Glad it helped ;)

[@CSSuccessGamer]

nice video! I hate buying cars from dealerships, they will find every way they can to rip you off. Price of car was 9k, but after walking out, you end up with 15k loan, with extended warranty and other fees. If you can find a cheaper car from the street, and pay only 500-1000$ flat, that's way better. If it breaks you can always find another one or learn how to fix yourself. Save your money for investing in stocks instead.

[@willthehitman]

Helpful info as well as learning lesson in the future. I bought a car through co-signer and screwed upside down on summer 2020!

[@minifoodmom84]

I’m so glad you’re here! I’m buying me first new car all by myself lonesome and I’m was SOO worried about being ripped off. (I’m a small timid female.) Your transparency and concision here are priceless. …I WILL “fake my confidence!” 🤭

[@VindictiveRaider]

I went in the other day and they try to negotiate with me. They offered me a $10,000 car where I would be paying $20,000 on a 28% interest rate. How can anyone look me in the eye with a straight face and tell me that this is a good deal for me?😂😂😂

[@HonestFinance]

I’m glad you understood what they were doing. I don’t think 28% is even legal

[@VindictiveRaider]

@@HonestFinance I'm in Canada where it's 39% is The max

[@lifted0422]

They hope you will think it is you have to be smart enough to say no but many people say yes

[@mikexcanxjerk]

roberto R Whats okay credit what range

[@aldodelgado39]

Miko_Pure 670+

[@marzzgli1278]

One thing I have noticed is if a dealership is offering a huge discount (dealership discount not manufacture rebate) they usually offset it by add ons (extended warranty, service contract, GPS or protection pkg). Dodge dealerships in SoCal are the worst at this. Most wont sell you car unless you agree to keep the add ons. At the very least they will make you keep the GPS/alarm at $1000.

[@HonestFinance]

So very true

[@michaelrobinson-sk2vl]

Great advice

[@miaike997]

Thank you for this video! 👏👏👏

[@jamoe4802]

Just shop your rate before going to the dealer. That means ACTUALLY applying for a real loan and get a real approval on a car you know you want, or would be likely interested in. Just because your bank says you can get a rate as low as 3.49% for 60 months doesn’t mean you will get that rate with your credit on any car in the world. So apply for the loan on the car you want and use that approval to see if the dealership can find a better rate for you. You’re welcome.

[@jamoe4802]

This assumes you can’t pay cash which is the best way to buy a car.

[@stephen7135]

3-5%, man I would kill to see that these days. 7% is currently the best you can get

[@HonestFinance]

I feel ya

[@alexisheron8106]

I greatly appreciate this video, thank you!

[@HonestFinance]

You’re welcome. Thank you

[@thewallofwolfstreet1026]

Now this is the type of stuff I wanted to learn in high school. Not that mitochondria is the powerhouse of the cell

[@HonestFinance]

Some education is used for the rest of your life

[@SamiSmolboi]

Thank you for all of this info. I really don't want to get screwed over.

[@HonestFinance]

You won’t if you’re prepared

[@jamesjonathan7187]

Went through buying a used car twice last month and now I want to buy cars for others since I've learned so much. Great videos, keep them coming.

[@HonestFinance]

Thanks :)

[@HonestFinance]

I’m glad I can teach others

[@yeseniaobeso5123]

@jamesjonathan please help me buy mine then

[@tito_6921]

Honestly man thank you for the information 🙏

[@HonestFinance]

You’re very welcome

[@Hussainm]

Thank you, good points

[@HonestFinance]

You’re welcome ;)

[@sweetriver9063]

Thank you for this, it’s scary and complicated but I appreciate the help

[@HonestFinance]

You’re welcome. Glad I could help :)

[@jacobwardell6365]

This dude is like a solid big brother hooking you up with great advice. Many thanks

[@HonestFinance]

You’re welcome!

[@marieltejada1126]

great video thank you!

[@HonestFinance]

You’re welcome

[@TimXMan1000]

As a first time car buyeer i appreciate this video

[@noahg4005]

Rule number 1: forget monthly payments and focus on total cost. Negotiate until you get the monthly payment that totals to what you can afford and initially set out to pay. Otherwise, take lone from your local credit union with a lower APR. If this can't happen, you don't afford, no deal, run away! As simple as that.

[@justfriends7581]

Yes but everytime you run away you get hit on your credit.

[@HonestFinance]

It goes back up ;)

[@roarbahamut9866]

Not sure how it works in other countries but currently in Germany, you can get a less than 1% inrest rate on pretty much any car loan. There a lot of comparison sites that show you different banks and companies that are willing to loan the amount.

[@K.A.Ralph334]

Thank you so much I appreciate the advice man.

[@mack4098]

Haha if you’re here in KZbin you probably looked it up

[@K.A.Ralph334]

@@mack4098 Lol..stating the obvious.

[@liyahadams]

Great video!

[@HonestFinance]

Thank you!

[@narongthong3257]

You had a high interest rate due to two factors when you were 20. No credit or bad credit. The Finance Manager does not make a killing on an interest rate of 20%, the banks do. Your interest rate is based on credit profile.

[@ChayanGarcia]

Hey thanks so much Jason ! I wish we learned all this in high school ! It would have been nice but ty sm !

[@HonestFinance]

You’re welcome!! It would’ve helped me too :)

[@elialexander9188]

I got a car loan at the dealership with the biweekly stubs I got and it was approved

[@richardpanini971]

Good channel dude!

[@HonestFinance]

Hey thanks

[@hadoukenhadouken9219]

"It takes a big man to admit his mistakes, and I'm that big man." - Michael G. Scott

[@steviegee2011]

You’re stating cold hard facts. Spending a lot of money on a car may not be wise. Do you have 6 months income in savings? Do you need to clean up your credit? Preach it brother!

[@steviegee2011]

The most important thing I forgot to say & here it is. If after you make that amazing car purchase you’re left without a pot to piss in nor a window to throw it out then you should seriously rethink your entire life.

[@boomspeng]

Thanks bro

[@ZestyMars]

I'm liking because when he said to like the video the thumbs lit up, thought that was cool

[@juliolopez-py3fd]

YOU GOT A SUBSCRIBER!! Thank you!

[@HonestFinance]

Thank you!! Enjoy the channel :)

[@IrajMatthee]

There are 3 more points that should be added to the list when buying a used car from a dealership. 1. The age of the car 2. The mileage of the car 3. The (extra) features of the car Remember, any new car you're thinking of buying could be a lemon because it hasn't proven that it's reliable as it ages.

[@HonestFinance]

Thank you

[@Anirossa]

Iraj Matthee Another good way of finding out if a new car is a lemom is looking for GM, Fiat, BMW, MB, Land Rover, Audi or Peugeot emblem

[@qeetta92]

That’s why I’m getting a Honda. Can’t go wrong with a Honda or a Toyota.

[@buttersleopaldstoch5793]

Thank you

[@carterbusby239]

This video was very helpful. Especially at the end. Always get an insurance quote before purchasing the car. I dodged a huge bullet when I was 18, I bought a 08 Ford Mustang. When I was getting insurance I was told my monthly payment was going to be 500. Which is absolutely crazy. Luckily I was able to get insurance a bit cheaper for 220 a month.

[@HonestFinance]

That’s so true

[@spencethewizard]

Car salesman here: very good video with true and accurate information. My best recommendation for buying a vehicle is to do your research on your desired make and model before hand (use sites like KBB and NADA to price out what the fair value for the vehicle should be). There is also great websites like CarGurus, True Car, and the like that will give you a third-party opinion on whether or not a certain vehicles price is a good deal or not. Before going to the dealership to look at the vehicle, review their internet pricing on the vehicle to make sure you know what it is before you begin negotiating. Often times the dealerships internet price will legitmately be their best price on the vehicle because that's how the cruel world of online marketing works. Of course that doesn't mean you should be expected to pay it (hence why I say look at the value from a third party website). Make sure that the dealer doesn't include any ridiculous fees. A documentation fee anywhere from $399-$599 is very common at most dealerships and is something that may be able to be taken off of the cars selling price but may not be able too depending on what they own their vehicle for. A doc fee is a lot of times a price of doing business with a regulated organization and ultimately makes a very little difference in the overall purchase. Secure your own financing before coming in, or know what you can qualify for and speak with desk manager at the dealership and ask to be only sent to 1 place. A lot of times people will get mad because they qualify for 20%+ interest rates but haven't paid attention to their credit score in the last 10 years let alone paid any of their bills. Most financial lenders will have their rates for excellent credit advertised on their website. Just buy your vehicle and enjoy your new car. Car buying isn't such a scary process as most make it out to be. You are in total control the entire time you enter the dealership. Nobody can make you sign anything other than you. Just make sure you are getting a good deal on the price of the car and then buy & enjoy your new vehicle.

[@HonestFinance]

Thanks for the honesty

[@zhaobinzhang4290]

Appreciate it!

[@NeoJSsk]

In other words... buy a 94 Celica

[@TerriJBrown-dz1lw]

Thanks for sharing this honest post! This was my process and I made the purchase with ease. Often we hear salesMAN take advantage of women who car shop alone...well not this woman. I knew everything you mentioned and the transaction worked to my favor. Do your research folks, as it helps YOU. Walked in pre-qualified, low interest rate with a credit union and decent down payment. Even my salesman said, "It's obvious you've done your homework." Had a great experience this time around, and the salesman really was great to work with.

[@lindsayhengehold5341]

Great video on car loans!

[@HonestFinance]

Hey thanks!!

[@HonestlyAnnaFun]

¡ Muchas gracias por tu ayuda!

[@aneet1980]

Very very informative, as it tells my story, I've been ripped by a dealership for 7 year loan at 5% for a car which I don't like now. I'm upside down with that car but don't want to trade it in as it will make things even worse. Still more then 5 years to go for loan. I accept that i was not smart to deal with this car purchase but now i have learned a lesson. Hope all ppl looking to buy a car learn a good lesson from this video. Keep posting great stuff

[@HonestFinance]

Sorry you got ripped off. I did too and it’s just part of buying cars until you look into how it all works.

[@HonestFinance]

Check out my new used car video when you have about ten min. It covers everything kzbin.info/www/bejne/rqfXh4Z9pbCXqtE

[@andreatagliaferri2426]

Honestly, I will hire you to go with me to buy the car. You can start a whole new kind of business with this knowledge! Tk for your videos :)

[@juanitabrandt5142]

So true!

[@elijahbenjamin3895]

I admire you!

[@jadencresser]

I like how u edited the video to move yourself round to make it easier to focus.

[@theagemaway]

Best plan: 100% down payment

[@HonestFinance]

Agreed :)

[@daejonmoody3304]

Agreed

[@user-ey5fg5oi6f]

Even better plan 0 loan interest rates

[@tehtebag5511]

Gotta have money to do that sorry lol

[@tayvonchamale3484]

Doesn’t build credit tho

[@10469]

And this is why the law that protects car dealerships, needs to be changed so we can buy directly from the manufacture.

[@HonestFinance]

I agree

[@ashrafkuhail2884]

Sure and you can buy your phones directly from apple, your milk straight from mayfield, and your bleach straight from Clorox, and then wash your phone with your milk and have a nice tall glass of Clorox

[@brittney2bdubb]

THANK YOU

[@FluffyWolfMan]

you can buy a Tesla straight from the Manufacturer.

[@AshNeeko]

Ezio Wolf Thats because they’re looked at as tech company legally, not a car company

[@Neuromelanin-Dominant]

INFORMATIVE & YOUR DELIVERY IS VERY HELPFUL, TO ME!😊 THANKS @HONESTFINANCE & JASON! YOU ARE SO AWESOME!👍🏻✌🏼

[@HonestFinance]

You're welcome

[@mushinrhino6787]

I feel the love ❤️ thank you 🙏 I’m from Utah too it’s a beautiful state ☮️

[@mandyshores1818]

I wish they would teach this is high school.

[@Enratic]

Yea I'm still putting 50% down lol.

[@H2Ojellyfish]

Did you do it yet?

[@Izzywizzy74]

Great if you are able to

[@erecklessz7048]

I don’t know why I’m doing this too LOL

[@Jeremy_alfa]

First time buyer and lowest offer I've gotten is 16%! have a car rn but hitting the 200K miles and not looking to spend more money on it. Just gonna build my credit up some more and bigger down payment. Thanks for the video!

[@HonestFinance]

You’re welcome. Check your credit unions and you’ll find someone w a better rate

[@user-jf6ud7yb9p]

you guys are the best 😎😎😎😎

[@ryanhartigan]

You're not likely to get interest rates that low unless it's a new car and those are all bought down from private agreements between the manufacturer and the lenders, so you're technically paying a higher interest rate anyway

[@kenn7459]

unless you are a car enthusiast who wants a car out of reach in terms of finances i feel that's the only justifiable reason to finance for a car. legit just save money on the side and soon enough you can get a beater thatll do everything you need to do. because if cars arent your interest then who cares as long as it gets you from A to B. cars depreciate mad and theres a ton of reliable old cars.

[@nanoviolence7681]

yeah eaiser said than done, if you need a car for work. and there is noone out there to help + uber everyday for like 100s.....ya no thanks. no busses either and 25 miles from home

[@mr.unipandacorn4215]

I like how he said totally screwed. Get it

[@adnantariq3346]

thank you

[@HonestFinance]

You’re welcome

[@ponderdat]

Thank you Jason, you've reaffirmed what I already knew about auto loans, my problem is that I have less than a thousand for a down payment before I sell my older vehicle. I'll let you know how it goes.

[@jeremymartinez361]

How'd it go?

[@Cazamigos]

Howd it go?

[@ResourceTalks]

One simple rule I use when it comes down to buying a car is to not let myself get tempted by the shiny looks on a new vehicle and go for quality and classic. Which also gives me the opportunity to buy something that will only go up in value over the years.

[@HonestFinance]

Good call ;)

[@scarletdelacruz2029]

thanks

[@noy6184]

you are the best coach, i am glad i don't trust the car dealer

[@Royalnightbirds]

Hi Buddy Thanks for all your videos it's really a good content. Fortunately I saw the car buying negotiation video of yours just at the right time and its worked like a charm even here in India. So kudos to your work here. Thanks again!!!

[@HonestFinance]

You’re welcome! Thanks for watching :)

[@Royalnightbirds]

@@HonestFinance buddy I just have a doubt but could not find much video regarding that. I am gonna buy a car basic model which dosent come with infotainment system or speakers. But ofcourse filled with all safety futures. As I searched infotainment system and speakers are so expensive. Can I just buy bose soundlink 2 and set my mobile as a replacement for navigation and music source. Would I really need a double din system for my car?

[@HonestFinance]

As long as the car has aux, you’re good. Don’t by navigation cuz your phone will do a better job

[@HonestFinance]

What is soundlink 2? Bluetooth?

[@Royalnightbirds]

@@HonestFinance yes. Bose speaker. Instead of Sony xav 100

[@Eldomibori]

I was desperate to get a car and got approved with credit acceptance.. The car purchase price was $8500, after financing, it went up to $21000...and it’s a 2016 Ford Fiesta hatchback..I love the car and all but I know damn well it’s not worth $21k. I currently still owe 16k and I regret it so much. Worst decision I’ve ever made.

[@HonestFinance]

Sorry man. We all live and learn

[@jameslane2326]

In general im sure you are right about longer loans, but two years ago we got 4.29% on an 854 month loan which allowed us to buy a better carr then we could of at a shorter term. So if you can find a good rate, long term loans arent necessarily bad. However apparently right now is a bad time to buy used. With better credit than we had when we got the 4% i cant get better than 7.9% now

[@nuttysquirrel8816]

I was in a perpetual up-side-down status on a rusted out 94 Dakota. It was paid off, but the yearly registration fee of $80.00 cost more than what the car was worth.

[@bruhmancalhoun1820]

26 years old with a 415 credit score. It sucks , but I’m not ashamed. Planning on getting a car loan from my credit union

[@HonestFinance]

For sure go w your credit union

[@bruhmancalhoun1820]

Got a used 2018 mustang GT premium for 27K with 17K miles. 60months 9.9% interest. For a first time buyer I think I did pretty good. Especially with a 440 credit score. ( we all gotta start somewhere)

[@helenacasiano579]

Which credit union?

[@HonestFinance]

It really doesn’t matter. They usually all compete w each other and have the same rates. Just go with the credit union that you like the most

[@mrdgg949]

I went though my bank at 4% interest. Negotiated with the sales manager as if I would finance though them. Saved $6,000

[@HonestFinance]

Great job!!

[@babysmallsxo6144]

what bank do you have??

[@SkyMania888]

I’m 20 and this is my first time buying a car do you have a video on what steps to take first? Should I have car insurance before I get my vehicle? What are some questions I should be asking like about the car? Should I have got my first credit a while ago? I should mention I’m a female and no body in my family really knows anything about this stuff and I don’t want to get screwed. I watched your car negotiation video too. Maybe a video on what not to buy could be helpful as well. I’m definitely subscribing and seeing what else you can tech me on this! Thank you!!

[@bryanlinares5297]

So dam helpfull

[@brittanymartinez2962]

I need a video about counter offers and how to approach a dealership after receiving a counter offer from a bank.

[@HonestFinance]

Good call. Did you watch my car buying negotiation video yet? That might help with something

[@georgeboianoff7754]

I was 18 years old when I financed my first car with 4 months of credit history and a 630 score. Car was $9,200 at 14% interest.

[@HonestFinance]

We all start somewhere

[@BloodyEnviouZ]

George Hey bro I’m looking to get a $14,000 loan. I’m 19 and have 10 months of credit history with a 740 score. Any idea on which company would give me a loan with this info?

[@ashrafkuhail2884]

BloodyEnviouZ I work at a dealership, it really depends on the vehicle in this your case since you have no auto loan history 740 would usually qualify for sub 5% however if your on a used car you might get somewhere in the 5-10 range

[@orlando666100]

This video is just so basic! But I'm pretty sure there is ppl who need it

[@HonestFinance]

We all need refreshers :)

[@inspirexcellence123]

✌thanks.

[@jrr6079]

I hate how people think financing a car is “sooooo bad.” It can help your credit build up so much within the loan term. If you can afford the payments and what not, I do not see a problem whatsoever. I plan on financing a car to help build my credit quicker and because-obviously I can’t pay it in full. It’s a new car and don’t even get started with the “depreciation value.” People that buy new cars, want to reward themselves. I, personally don’t care if the value goes down. I bought it for me and plan on taking care of it for the next 20 years of my life. I can care less about the depreciation.

[@HonestFinance]

Just make sure you get a good rate and length and you’ll be fine

[@ludens1526]

Jrr looooooool you’re fucked in this country with this mindset.

[@jaxav8r]

Hello Jason, when I use my own financing...can you please help me understand where the interest in each monthly payment goes to? For example? Does the interest every month go to the dealer or does it go to my bank? And again I’m asking about a scenario where I use my own financing, not the dealership’s financing. Thanks in advance!

[@Big_AlMC]

It goes to your bank. Your bank trusted you and paid the car dealership in full. They are totally out of the equation. They were laid in full by your bank. Now it's just you and your bank. Because your bank stuck their neck out for you they want a some profit from your loan via interest paid to them. Dealerships really want you to finance through them so they can get that bit of interest rate payments to them.

[@junevo7104]

thank you!!! teary eyed heart eyed emoji @@Big_AlMC

[@1240reddy]

Can you do a video on different Car titles and if i can buy a salvage or rebuilt title and what would be the best price for such cars.

[@Dee--Jay]

i always choose the longest to pay off car 72 months at 4.24 % but i always pay it off 2 or 3 yrs early. i just like the flexibility.... if something come up, i can just not pay the note since im months ahead on it or jus pay a partial payment

[@BeamTeam517]

I'm 23 with a 803 credit score i drive a 06 ford escape I'm gonna drive that thing till the wheels fall off. I can't do a car loan no sir. I've had 3 credit cards and paid them on time every month and my score shot up.

[@BeamTeam517]

@Connor Evans exactly my dad thought me about managing my credit and being responsible at a young age

[@babyelephant5098]

Howard how long it took you guys to build your credits that high?

[@sneakz827]

Cant think of a name he’s lying lol

[@johndavolta3124]

@Connor Evans so you didn't really create your own credit but daddy did it for you....well it is not the same.

[@johndavolta3124]

@Connor Evans yeah you speak from an arrogant entitled heart...you are the definition of a fool