Expert Advice for buying

All Questions on buying

How do I put insurance on a car?
I know pretty much nothing about cars, or car ownership. How do I put insurance on a car?
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Nick Kunze
Mar 07, 2022
Does a dealer still need to run my credit if I got preapproval for a loan?
I got preapproval for a car loan from my credit union. When I went to the dealer, they insisted that I undergo a credit check before buying a car. Do I have to submit to this if I already have financing?
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Eric Schad
Aug 12, 2021
Should I opt for car incentives and rebates or a lower interest rate?
"I'm shopping for a car and in quite a conundrum. My credit union has offered me a rate of 1.7% for 48 months. On the other hand, the dealer has offered $3,500 off the price of the car if I accept a 5.7% loan for 48 months. The amount I need to finance without the $3,500 off is $31,500. Should I go for the incentives or the lower interest rate?"
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Eric Schad
Aug 10, 2021
What do you typically need to qualify for 0% APR financing?
The local Kia dealership is offering 0% financing for new cars, but in the fine print it reads for qualified buyers. What do I need to qualify for 0% APR financing?
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Eric Schad
Aug 02, 2021
How do I get a car loan with Wells Fargo?
I’ve been a loyal customer with Wells Fargo for about a decade, but I’ve only had checking and savings accounts. I want to buy a car, but I want to go with Wells Fargo for it if I can. How can I get a car loan with Wells Fargo?
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Eric Schad
Dec 14, 2021
What are the five most important safety features on a car?
I want to purchase a new car and safety is one of my main priorities. However, I don't want to dig through hundreds of safety features to compare each one, as I know many come standard on all cars or are required by law. What are the five most important safety features on a car that I should look for?
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Eric Schad
Aug 02, 2021
How do I buy a used Toyota Prius?
I'm no longer working remotely, which means I'll be commuting again in the next few weeks. With gas prices so high, I'm looking for a hybrid car that isn't too pricey. How do I buy a used Toyota Prius?
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Matthew Macgugan
Oct 28, 2021
Should I finance through Hyundai Motor finance to get incentives and then refinance through my credit union?
I want to buy a new Hyundai Kona. Hyundai Motor Finance is currently offering up to $3,500 worth of incentives. The only problem is that they want to give me an interest rate of 5.99% compared to 2.9% from my credit union. Can I finance through Hyundai and then refinance immediately through my credit union?
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Eric Schad
Aug 02, 2021
Can I get a lower price if I finance through a dealer?
I was looking at financing a car, and the price has consistently dropped. I was wondering if I could get them to go even lower if I finance with them. Is this a possibility?
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Eric Schad
Aug 02, 2021
Where can I get a loan for a car that's over 10 years old?
I want to buy a used Corvette with low miles, but it's nearly 15 years old. Because of its age, I'm worried that I won't be able to get a loan. Is there a place I can get a car loan for a vehicle that's over 10 years old?
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Eric Schad
Aug 10, 2021
Can I get a loan for a rebuilt title car?
Can you get a loan for a rebuilt title? I’m buying a new car and will need a loan to pay for it. The car I like has a rebuilt title. Is it possible to get financing?
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Chloe Jenkins
Nov 11, 2021
Is CarMax a good place to get financing for a car?
I have my eye on a car at CarMax because of its low mileage and good price. Should I also go through them for financing? I've heard both the good and bad. Is CarMax a good place to get a car loan?
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Eric Schad
Aug 02, 2021
Can a car dealer cancel a sale in California after I've owned the car for a month?
Can a dealer cancel a loan after a month? A car dealer I purchased a car from in California over a month ago wants me to return the car after a month because financing fell through.
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Eric Schad
Jul 01, 2021
How do I buy a car with a bank loan?
I’m buying a new car, but I need to finance a portion of it. I’m fairly certain I want to use my current bank for the loan. How do I buy a vehicle with a bank loan?
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Eric Schad
Dec 14, 2021
Can I buy a car for someone with cash?
I’m really into this girl and want to buy her a new car. Her car is really old and falling apart, and I’ve got cash to burn. Can I buy a car for someone with cash?
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Melanie Johnson
Feb 18, 2022
Should I use my preapproval rate of 2.79% to negotiate a price with the dealer?
I went to a dealer and they offered me a financing rate of 9.49%, which I found unacceptable. I then went to my bank and they gave me a rate of 2.79%. Should I use the bank interest rate as a bargaining tool to get a lower price on the car, or should I just accept the rate as a discount on the car?
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Eric Schad
Aug 02, 2021
What's the best interest rate I can get at a buy here pay here dealership?
I have below-average credit, but I still want to get a car loan. I've tried traditional dealers and banks, and they won't lend to me. A local dealership has agreed to take me on—but how much can I expect to pay in interest?
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Eric Schad
Oct 20, 2021
Can you be denied for a car loan after you've taken possession of a vehicle?
I got financing through a dealer for a used Lexus. Two weeks after driving the car off the lot, I got an adverse action notice in the mail saying I've been denied the loan. Why would this be? Can I actually be denied financing after taking possession of the car?
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Eric Schad
Aug 02, 2021
How do I sell a car in Georgia?
I moved to Atlanta recently for a job. Now that I live in the city, I want to sell my current car to get something with better fuel economy. What steps do I need to take to sell a car in Georgia?
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Eric Schad
Nov 30, 2021
What is the principal of a car loan?
I saved up to make a down payment for a vehicle and now I’m shopping around for the best car loan rate. However, it’s my first time getting a loan and I’m not sure what all the terminology means. I keep seeing the word principal. What is the principal of a car loan?
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Eric Schad
Nov 25, 2021
Can I get financing for a car that's 15 years old?
I want to buy an Acura NSX for $45,000 that's 15 years old. It doesn't exactly qualify for a classic car loan based on age, but it's definitely rare enough to be considered a classic. Can I get financing for this vehicle?
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Eric Schad
Jun 24, 2022
Should I finance a car with a warranty or buy a car with cash?
I need a car to get to my job, but I don't want to add more debt to do so. I have $6,000 saved to buy a car with, which I'll probably spend about $5,000 and save $1,000 as an emergency repair fund. My father thinks I should get a certified pre-owned vehicle that's $12,000, pay half in cash and finance the rest. Which is the better option?
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Eric Schad
Aug 02, 2021
What is a car loan prequalification and how do I get one?
I'm thinking about buying a car and an ATV at the same time, but I don't want to hurt my credit score with too many hard inquiries. A friend told me I should get prequalified. What does this mean?
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Eric Schad
Oct 20, 2021
How difficult is it to get a car loan?
Is it hard to get a car loan? I want to get a new car but I’m not sure if I would qualify for a loan or not.
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Liz Jenson
Dec 14, 2021
Do car dealers get kickbacks from lenders on car loans?
Every time I've purchased a car, the salesperson is always pushy about financing. Do car dealers get kickbacks from lenders?
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Eric Schad
Aug 10, 2021
How can I find the owner of a car by a VIN?
I'm considering buying a vehicle from a private selller. I found the car on Craigslist, but I want to make sure I'm buying it from the owner. I have the VIN, could I check who owns the vehicle?
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Emily Maracle
Jun 24, 2022
Can you finance a car if you don't have a driver's license?
I'm a late bloomer when it comes to getting my driver's license. I'm finally getting it in a few months at the ripe old age of 27. I want to buy a car, or at least start shopping before I get my license. Can you finance a car if you don't have a driver's license?
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Eric Schad
Aug 10, 2021
How much should you spend on a car loan?
What is a good amount to spend on a car loan? I want to get my first car but I’m not sure how much money I should be spending on a loan.
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Liz Jenson
Dec 14, 2021
Do I actually need to wait nine months to refinance a vehicle?
I got a rebate on my new Chevy Malibu for $1,500. The only stipulation was that I have to get financing and wait nine months for refinancing. Does this sound right? Do I actually have to wait to refinance?
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Eric Schad
Aug 12, 2021
Is 2.49% a good rate for a 48-month car loan with a 740 credit score?
I found a 2.49% 48-month car loan through PenFed Credit Union. It seems like a reasonable rate, considering my credit score is only 740. Is this a good rate or can I find something better somewhere else?
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Eric Schad
Aug 02, 2021

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