Help me with my purchase

[eliteboi]

so tonight I went and looked at a 2000 VW new beetle turbo gls
85k 8,600 it ran very well, seemed to drive tight etc.

Here are my questions...

I have no credit (not bad credit just none at all)
I wanna finance 100% of the car and put 0 down, is that reasonable or should I be expecting to put something down?
Do they check employment and what not? I've worked at my job over a year, and I net 2,xxxx a month so what should I be looking at before I go in there tomorrow and get the run around? Should I bring copy of my pay stubs or anything like that? ANy advice/experince is greatly appriciated..

[AzDivr]

Use a payment calculator like:
http://autos.yahoo.com/finance/loan-...gEc2xrA3NteA--
This will give you a ballpark on what payments will be like.
I'm guessing by having no credit you're young. One thing to realize is the turbo alone will probably make your insurance higher than your car payment.
Yes, you need to verify employment.
Good luck and don't get raked over the coals to bad.

[Lnzbug]

If it's at a VW dealer make them change the timing belt and water pump for that price. It's just ripe for breakage, age and mileage wise.

[BUGBUGDUDE]

this is the same user who posted this, i forgot my login and i lready had this one set up.

It's actually a dealership that really only sells vw's/audi's, i said something to the guy about the timing belt and he said "we don't do those until 100k" which I knew on these cars where bs.... and on top of that the fog lights work, so thats the two things that if they won't fix/change will keep me from buying the car.

i'm 20 and I won't have a co-signer any one have any ideas? I really wouldn't even have much more then $500 to put down because I just had to pay some medical bills

[eliteboi]

no one?

[iScott]

To me, the price seems a tad high considering that it's gonna need a slight overhaul here soon. I'd keep shopping around. Call every bank you possibly can and see who will give you a loan. That's what I did and only found one local bank who would do it.
Good luck!

[jbthompson]

I think the price is too high. I bought a 2000 gls no turbo for 6k last year. It had the timing belt done and was perfectly maintained. Good luck! The right one is out there!

[eliteboi]

Well I called the local vw dealer ran the vin and ALL the service was done on time. The only thing I would make them fix that I can recall is the fog lights. I'm going to make him an offer of 6800 tomorrow :-).

He called today and said I need to have a $2,000 down payment. Is it me, or does that seem high?

[AzDivr]

Always check on your insurance before buying. You may be shocked at what it's going to cost a month.
Having no credit and no co-signer will require a lot more down.

[tripen2]

I would look into joining a credit union. You can usually get good auto loan rates and little to no money down. My beetle was the first new car i ever purchased. They said i was approved for 8% but when they brought me the paper work it was 8.99%. So watch out and read everything!

My only other suggestion is to go online and check out the value of the bug at kbb.com, nada.com. Also check auto trader for you area. You might find a better deal or use the material to negotiate a better price.

Mike

[eliteboi]

well i went back down to the dealership today and they said I need 2k down to get the car.. Which seems dumb because its like an 9,500 car. Any ideas on other places that are good about finacing? I don't have bad credit just none...

at all...

[Beltaine]

There are lots of places online you can get financing through. I got loan offers from a couple different ones before I went to buy my last car. Then the dealer actually made me a better financing deal so I didn't use them.

Basically, you apply and all that mess, and they send you a check. You make the check out to the dealer for the amount of the car after you haggle, and you start your loan. Or you don't use it and all is good.

Try lendingtree.com, citi.com, eloan.com.