How to Get a Car Loan (The Right Way)

Great video!

So my 23% apr isn’t good?

Nice video ❤ I just financed my new Camry after so much stress first was the money then is was paystubs and bank statements which I had to pay a vendor online

Great advice on the least painful way to dig yourself into a hole you shouldn't be in. Do the math. By the time you're halfway through paying off that loan (with interest), your car will be worth half of what you paid for it. Car payments will keep you poor.

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 ?

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

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

If 20% of cars value is a lot, you are buying something you really can not afford... If you are buying a car, if you can not pay it in three years, it is too expensive for you. Also, basically, if you need credit for a car... it is likely too expensive for you. I have never used credit to buy a car and unless interest is 0-1% I never will.

How do you get a car loan when you are a full time rver

Wish this still applied today

If you can’t afford it, you can’t afford it!

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

You have to push back on the lies. Every car dealer lies about every number. You have to push back until you feel you are taking advantage of them but you can never achieve it unless your related. So push back, push back, push back and then push back some more.

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

Great advice, thank you :)

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

This is all correct but I literally just need help figuring out how I make my first payment. I work at a dealership and bought my first car and don’t know how to set it all up :(

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?

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!” 🤭

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.

Bruh I just need $4,500 for the car 😞

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

Great advice

Im literally looking into a 7 series 😂 & i dont mind paying 150 dollars more 4 my insurance however i do not want to end up paying more than the car is worth 👌

None of these videos help I’m 18 Tryina get a car with no help

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

My name is Jonas, and I want to share with you on how I got my instant loan from supreme finance with in 24hours, so if you are here looking for an online loan, reach out to them now and you will have your loan and thank me later,
Best regards❤❤

I'm 20, have 742 credit score, and I tried to get approved for financing on a $4,995 truck, and they said were saying no unless I do a $2,000 down payment 😂. I could have that in about a month but they done sold the truck I was looking at, and any other truck I applied for they just said flat out not without a co signer bc of my age.

Am in Uganda, how can j get a truck vehicle on loan

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!!

4.2% interest?! That's cute! Try 6.8% at very best for 60months over here for $67,000. Insanity. Borrow less and rate goes up from 7.8% to 12% depending on deposit.

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

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

Now what if you took out a longer duration loan but you intend on paying it as if it was the shorter term loan just so if you had a month that's something came up the minimum you would owe would still be low kind of like a safety cushion

Thank you I got $10k cash ready for a down payment and I’m trying to get a 2009 Mercedes c63 amg worth around $22k
Is this good ?

I was asked two provide two months worth of biweekly stubs and bank statements as proof of income for my loan application. I got everything from Cyber credible and they work perfectly

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?

I got two months worth of bank statement from Cyber credible and it help me prove my income. I'm so glad he was able to help me get approved

¡ Muchas gracias por tu ayuda!

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

My first car was 19800 and 9% my second car was 3%

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

But if you take a longer loan and pay more monthly wont you pay it off faster ?

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

This was a great video and it raises a question. What about using a loan from a bank or anywhere else to purchase a car from a private seller? What’s that process like?

Thevadiya payan

Thanks bro

What kind of society forces people to pay taxes on their income your income, that you use to survive and maintain your life taxes should not be forced on private citizens it should be forced on those who own businesses and makes money off of people hard earned money. When you go to the bank and you get a car loan, the lender makes double or more on the loan isn’t that the greatest Business ever made and if the person does not fulfill the contract, the banker, the lender gets his money back from the government bailout so it is a win-win in the lost for a person who is trying to make a comfortable life for himself, but getting taken advantage by the system in place to protect the people by the people who run corporations

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

F the car loan, let’s talk about ur teeth 😂