Herbal Chicken

I plan on purchasing a T/A in a couple of weeks when I get back from Korea. This will be the first car I've bought, and I'm not sure exactly what the procedures are. I have the money saved, and I'm still not sure whether I should pay cash or get it financed. The only reason I would want to get it financed is so I can improve my credit. I plan on getting full-coverage either way so that doesn't really matter.

So what exactly do I need to do when buying a car? Do I just give them a check and they give me a title then drive off? I know I'll have to call the insurance company before-hand. Any advice would really appreciated. I'm going to have a limited amount of time to do all this.

Thanks for all the help.

Sunset'01Z

iTrader: (10)

they will help you do it all. there's just some paperwork involved.

dont just pay what they are asking. there is always room to negotiate, especially with cash. dont sign your name on anything untill you agree on a price, they will throw some paperwork in front of you and not even talk about the price. dont believe anything the salesman tells you about the car, they have no idea. car salesman are some of the least knowledgeable car people i have met.

crazboy99

if you finance, the bank will send you a check if there is not a branch local...i would suggest calling the bank for a preapproval before you start looking...that way you know what you limit is and you dont have a salesperson standing behind you listening to your conversation...most of the time the dealer will give you a high price...which if you dont know what you are looking for or know the approx. value of a certain car you will think that is a good deal...start out by giving them a price lower than you would like to pay...they are going to try to b.s. you with they cant go lower...that will go on until you can get to an agreeable price...thats the reason you need to go in knowing how much you can spend...if you dont have the check from the bank yet or dont get approved until you are at the dealer...you might have to provide a bank draft before they will let you take the car...read all the fine lines of every document...that way you know what the terms and what not are incase they offer you anything extra...i wouldnt let the dealership run a credit check either (that is what your bank is for)...i can almost bet that they are going to try to pressure you into buying the first day...look around, sleep on it, dont settle for the first car you run across just cause it is available

just some of the tips i have learned with buying from dealerships and financing...hope it helped some

Texfinn

iTrader: (39)

That is definetely not going to help you, that's for sure. When shopping for a car, you need to have time and patience. Otherwise you might end up in a sour deal which you don't realize until afterwards.

Just keep your cool and don't fall in love with the first car you see.

Herbal Chicken

Sorry, I should have been more specific. What do I need to do if buying from a private seller, not a dealership. I've been looking at the classifieds here on the forums. Thanks for the previous replies, though.

StuntmanMike

iTrader: (2)

Well, if you're paying cash, you give him the cash, he gives you the title and you drive off with it. Although that's a simplification, because you can't drive it w/out plates, and you need the title to get plates and registration. So, that's at least two trips right there.

You could risk it and slap on a set of borrowed plates just to get the car home, but I wouldn't. Murphy's law dictates that SOMETHING bad will happen if you do that.

Here's how I got my car:

Test drove car.

Decided to buy car.

Secured financing.

Got check from finance company.

Met seller, exchanged check and balance in cash for title.

Went online got insurance.

Took proof of insurance to registry, got plates and registration.

Went to pick up car.

That would have been 3 trips, but the seller was nice enough to meet me at work to exchange funds for title. He was over an hour away, so that was a big help.

Actually, it was a bit more complicated, as I live in RI and bought the car from MA. To get the RI title, I had to take it to a police station to have a vin verification done before I could get the actual plates and reg. The first trip to the registry was for just a 5 day temporary tag.

Good luck!

mcalus

iTrader: (14)

Actually I believe you can drive it home without plates. You might need insurance but I am pretty sure you can drive it from point a to point b...If you do need insurance which i recommend then just get the vin from the guy and call your insurance company.

Herbal Chicken

Thanks for all the help, I appreciate it. Your post was especially helpful StuntmanMike.

waldershrek

iTrader: (1)

How much cash do you have saved? Reason I ask is this....if you have enough to pay for the car then that will save you money on the interest you would be charged on the loan. If you don't have that much cash then your only option really is to finance.

Herbal Chicken

I have enough to buy outright with cash if need be, I was just going to finance to get a credit record going. I know it would be cheaper paying cash, but that's the price you pay for credit.

waldershrek

iTrader: (1)

There are other ways to build credit. Besides, if you pay cash for stuff you never need credit

mcalus

iTrader: (14)

So he is going to pay cash for a house???
Let me know how that goes.

waldershrek

iTrader: (1)

Obviously not a house (although he could save enough for a significant down payment) but cars and just about everything else in life can be bought with cash.

01riceeater

iTrader: (4)

carfax it whatever you do

BadGTho

iTrader: (6)

before you give such horrible advice, you might re-consider.

every state has different laws.

the correct answer to the OP is to go onto the webiste of you specific state's DMV/RMV and read their policies.

some have temporary plates, others don't.

mcalus

iTrader: (14)

Actually I went to my Secretary of State and asked them if I need to do anything to drive a car from Oklahoma to Michigan and they said it was no problem. But you do need insurance.

BadGTho

iTrader: (6)

Ok,

that's fine.

i'll stick to my original comment. there are 49 other states, with 49 other sets of rules.

mcalus

iTrader: (14)

Actually that would include all of the states from oklahoma to michigan, its not like im gonna jump from oklahoma to michigan...

BadGTho

iTrader: (6)

Ok,

well whatever you say chief

all i was stating is that to give such a blanket categorization is a bit shortsighted.

the correct answer is that one should check with his/her own state.

THEBRAD

iTrader: (3)

first thing u need to do when u see the car is give the tires a good kick or two ull know everything u need to know after that