How to Get a Car Loan (The Right Way)

[@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!” 🤭

[@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.

[@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.

[@SuperKanuuna]

Sell your car and buy Bitcoin. You wont never regret it.

[@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.

[@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.

[@theonewhocooks111]

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

[@Bigdaddyschnooks]

They don't want you to learn this stuff. Plus it's run by civil service. And we all know what civil service breeds.... more morons

[@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

[@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)

[@elialexander9188]

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

[@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.

[@halftruetrue]

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.

[@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.

[@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.

[@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

[@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

[@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.

[@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.

[@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.

[@yeseniaortega8351]

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

[@richrise4065]

You do a great job explaining and breaking down the details. Very thorough, clear, calm, organized, and sensible. Awesome video. Great content.

[@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!

[@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.

[@TimXMan1000]

As a first time car buyeer i appreciate this video

[@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.

[@cynthialopez6587]

Came across your video I’m trying to finance a car & thank you for explaining to me you’re a life saver so thankful for your detailed help simple to understand.💯

[@HonestFinance]

You're welcome, glad it helped.

[@HonestFinance]

Hope you enjoyed the video. Give it a thumbs up if you feel the desire :) And here's a link to my preferred auto lender, Lightstream loans if you have any interest. Thanks. bit.ly/auto_loans_ls

[@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

[@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 ;)

[@presidualist4587]

Hey im experiencing this right now if you accidentally got a pre approval for a loan term of 72 months dont be frustrated. As long as u get the promisary note after the exchange and tell the bank u want to change the loan term to 60 months or even lower you should be ok

[@jacobwardell6365]

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

[@HonestFinance]

You’re welcome!

[@priscillamitchell7441]

Hard to shop interest rates without getting multiple hard credit pulls. How do you get around that to shop around?????

[@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

[@TheKing_sHeart]

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 ;)

[@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.

[@Bigdaddyschnooks]

Just multiply the payment by the length of the loan. Add in any down payments or additional costs. Very simple. If your happy paying 3x the cars value over a 7 year loan go for it. If not look elsewhere.

[@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.

[@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.

[@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 ;)

[@makennanelson222]

My first car I paid in full and gave to my sister as a gift at 17. I’m trying to buy another for me at 19 but I don’t know where to begin with loans. I never took one out. I’m hoping to buy a used car for school and work for $5,000. I plan on putting $2,500 down and barrow whatever is left I need to pay as the loan. I have a good credit score and heard car loans can make your credit score go up if you pay on time every month. It was drilled into my brain to never get loans for school or wants. I consider myself to be pretty good and finance and know how things work for Roth IRA, CDs, mutual funds, index funds etc. But loans I never took time to learn because again, I was told to stay away. Idk I just need advice on what is considered a good car loan

[@HonestFinance]

$2,500 car loan is plenty safe if the car works fine. Just pay it off quickly because rates aren’t the best right now

[@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

[@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.

[@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

[@dEllDIIb]

I was 21 with a 29% interest rate. It took almost a decade to start building back up.

[@hadoukenhadouken9219]

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

[@SarahSims-x3j]

Thank you so much for this video. Very instructive.

[@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

[@ZestyMars]

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

[@hieuhughesle-au9884]

Yeah I was looking to finance 16k for vehicle and the interest rate is like 10%! That's after talking it down! Granted great credit but no history making 2500 a paycheck

[@matthewlesko936]

Do you want a payday loan, Mortgages, auto loans, student loans, furniture loans, jewelry loans, installment loans today? Do yourself a favor if you in need of a loan you should message Consultant DB Mark via instagram @dbmarkconsult_ OR telegram [phone] he helped me with a loan with just 1% income! He’s going to cord you as much as 5k in a few hours. His company is the best

[@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

[@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

[@SGxShadow]

You hit the major point at the end. CHECK THE INSURANCE RATE. Just because all the ducks are lined up for the loan doesn't mean your monthly rate for insurance won't jump up $50-$200+.

[@HonestFinance]

Ya. It can really throw you off at the end if you’re not careful

[@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!!

[@Greg-vq9tu]

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

[@jamesstuart3346]

One thing to mention is that depreciation rates vary wildly. Corolla first year depreciation is about 7%, Lincoln about 30%

[@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.

[@orlandorivera2945]

I went yesterday and and my wife used her credit and I put the down payment. Now I have to go to the dealership tomorrow to bring money for the tag fee's. Now it's been less three day's and know I have a change of mind and would like to cancel though my wife signed. I was shown the pre-owned car but was not even offered a test drive. Tomorrow can I talk to the manager of the dealership that I've been with for six cars already and work something out. Buyers remorse. Thank you for taking the time to read this please help!.

[@HonestFinance]

I’m pretty sure you can cancel everything (esp if you haven’t taken the car home). Just be firm if you don’t feel it’s a good fit

[@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+

[@patokim3427]

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

[@HonestFinance]

Hey thanks!!

[@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

[@mustafaahmed6999]

First thing never buy a zero meter car. Secondly go directly with Toyota, Nissan or Morris Garage directly. Never asked for extra perks accepting road side assistance if cheaper than market rate.

[@sweetriver9063]

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

[@HonestFinance]

You’re welcome. Glad I could help :)

[@ALEXFVHS]

Before you tell people zero percent interest from a dealer is a good deal, tell people that it typically comes with more expensive car, you won't be able to get as good of a discount as you would without zero apr

[@HonestFinance]

Good point thanks

[@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 :)

[@Jazzycatinlego]

So true!

[@kelleyboi4518]

So what I’m confused on is, does the bank pay for the entirety of the car and I’m only paying the bank? Or they pay a set amount and I have to pay the bank and dealership?

[@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

[@jonathanmendosa9023]

Do you have to get a car loan? Why can’t I just pay monthly but with money I’ve earned?

[@mandyshores1818]

I wish they would teach this is high school.

[@noy6184]

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

[@stephen7135]

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

[@HonestFinance]

I feel ya

[@jobisaiah8901]

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

[@Dashikardashian]

Why not just go to your own bank, ask for an auto loan? Now You know what price to look for ?

[@thndr_5468]

I have learned I cannot afford a car from this video thanks!!!

[@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

[@SamGatiNHO]

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

[@AA-zs7jw]

Can I buy a car without borrowing from the bank ? In other words finance it from the dealer directly without a third party which is the bank in this case?

[@HonestFinance]

Some will do financing and some car manufactures do too

[@HonestFinance]

Here’s a link to my Car Buying Playlist if you wanna watch more :) kzbin.info/aero/PLOmIpJDqCR-L6xTFH83iG-hGK9aDpy17r

[@orlando666100]

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

[@HonestFinance]

We all need refreshers :)

[@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 :)

[@bryontharp5790]

So what your saying is if you don't have a co signer or a down payment or decent credit vehicle for you right I have to start some how help me bro.

[@manu61538]

I financed my current car about two years ago through Honda’s financial services. They have me 1.9%. I’m pretty happy with that.

[@HonestFinance]

That’s as good as it gets right now :)

[@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!

[@lambolj]

I got a car loan 3.39 interest 48 months $8600 loan on a 2012 Toyota RAV4 limited

[@HonestFinance]

Very good rate :)

[@svgb6946]

LamboLJ how did u do it bro!? I just met someone who’s selling me his car for $8,500 but I only have 560 credit because I only started this year and only have $1250 saved up? Where can I get a loan that good!?

[@lambolj]

SVG B credit score in the 700s, be pre approved by a credit union and have the dealership compete with the credit union numbers

[@javierosorio5169]

Try 4% on 38,800 on 72 months. 2019 challenger scatpack ...with a 90 extension day till first payment due date. And full coverage at 120$ a month

[@mushinrhino6787]

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

[@davidtrejo5254]

Im 19 got my first car loan on a 2015 toyota avalon paying 4% interest for 6 years monthly payment of 290

[@Kevin-gq2kj]

How much is your monthly insurance bill

[@davidtrejo5254]

@@Kevin-gq2kj 260 monthly on full coverage. I work full time and this is currently my only debt, so I'm planning to knock it out within the next 2 - 3 years.

[@SasuKev099009]

How are things going now

[@davidtrejo5254]

Sasu Kev better than ever lol i thought i was going to be struggling but I’m honestly doing very well. thanks for asking.

[@mikexcanxjerk]

never never agree on a 6 year loan , 4-5 year max , but pay it off faster , how much down payment you put down and how much was the total price of the car ?

[@AmbientBassCreations]

how do you know if their taking a cut from the interest rates?

[@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

[@Anonymouslousy]

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

[@etmesi]

Next video needs to explain vantage score vs Fico score. Each car manufacturer that I went to shopping for an SUV had different scoring. Hyundai had the best scoring no matter what dealership I went to so I was able to lease a car versus purchase, so please explain this.

[@WilliamHornstra]

3-5% What the heck? In Australia interest rates (for car loans) START at around 6%.

[@HonestFinance]

That’s no good.

[@jadencresser]

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

[@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.

[@Mottayeesatugumaj]

7 minutes of detail info...... thank you so much.👌

[@HonestFinance]

You’re very welcome

[@Mo-st2vk]

Hi Jason, thanks for the advice. I recently got a car that was $27800 MSRP but the car price was $21300.00 my interest 5.29% for 63 months. I don't have a credit history yet. When should I refinance it ?

[@HonestFinance]

If you don't have much credit, 5.29% is really good. Congrats! Rates are about 4% right now, so I'd refinance in about six months when your score is higher. Or just wait until rates are lower than 4%.

[@kiyoko335]

That's already pretty good lol

[@LeahRiley-h8d]

Great video!

[@HonestFinance]

Hey thanks! I hope it helped where it was needed

[@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

[@2xclusivejaytv]

Hey I’m new to the car thing and I’m also doing my research on everything I need to know before I get a car, my credit is a 650 I have a small credit history but I was going to put 2k down with a 18k loan from my credit union, I also have a co-signer and I believe they’re credit is 730 and they have a huge line of credit history I was wondering what type of care I would get ?

[@theagemaway]

Best plan: 100% down payment

[@HonestFinance]

Agreed :)

[@daejonmoody3304]

Agreed

[@ثامر-ب1س]

Even better plan 0 loan interest rates

[@tehtebag5511]

Gotta have money to do that sorry lol

[@tayvonchamale3484]

Doesn’t build credit tho

[@shelleygold4923]

Please correct me if I'm wrong but dealerships don't have to tell you if they get a cut of the interest rate in my

[@HonestFinance]

You are correct. Compare the rate to your local credit union and you’ll be able to see for yourself

[@dalefarmer.568]

Thats great BUT i have paid my house off and paid cash for everything lthe last 12 yrs. i litterally have no debt and have low credit.

[@HonestFinance]

That’s incredible. Congrats!

[@rades920]

Dale Farmer that’s great but very unrealistic for the average person

[@apricotcomputers3943]

Niiice!

[@joyndem6574]

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

[@T10Short]

My credit score is very poor (570) and I’m broke. I graduate from college next month and hopefully find a good paying job but I need a car now to go to interviews and a part time job maybe since I live in place without public transportation. What do you recommend I do?

[@HonestFinance]

Is there anyone that can drive you around until you get a job?

[@T10Short]

Honest Finance my friend is driving me around right now but he'll move away after graduation on May 11 😔

[@HonestFinance]

Just finance a cheap car and pay for it w a part time job until you get a good one

[@chaveznury]

SO DO I FIRST OPEN AND ACCOUNT WTH THE UNION AND WHEN I OPEN THEA ACC CAN I APPLY THAT SAME DAY FOR THE LOAN? NOW WHEN I GO TO THE DEALERS DO I JUST TELL THEM TO ADD THE CHARGES TO THE LOAND OR HOW I DONT GET IT?