Overhaulin'

What's best way to find and finance the best car deal?

Hi I am 20 years old going to be a first time car buyer. I own a 2000 ford taurus and looking to buy a new car. I can afford no more then 300 a month car payment. And want to trade my car in. Where can I go to get the best deal. I don't know what car I want yet. I'm new at this so all advice is great!

Public Comments

1. If you can, save up 10 one hundred dollar bills and wave them in front of the salesman when trying to cut a deal. When you've got cash, they negogiate as that would be a great down payment and an easy way to get a monthly payment that you can afford.
2. Don't buy a car just because it's a good deal. You'll regret it later when you decide you don't like the car. Do a LOT of research on cars you think you might like, then narrow it down to a few, then go test drive them and look them over, THEN look for good deals on the few cars you know you like. Most car companies now have good incentives and rebates, and dealers are adding good price discounts on top. This is actually one of the best time ever to buy a new car. Here's a site with information about which car companies have the best deals: http://best-car-deals.buyerreports.org I would suggest selling your Taurus yourself, rather than trading. You'll get more money for it. Then use the money as a down payment on your new car. .
3. Sell your car on your own trading in is a rip off. New car values drop really fast so if you need to sell for some reason you will be writing a check for thousands to get out from under it because you will be upside down.(owe more on it than it is worth) I wouldn't buy anything newer than 3 years old otherwise you take a beating. Like the other answer said do you really want a payment? You may also have a hard time finding financing given your age, if you can get it though the interest will be really high.