Buying first car. Advice?

Answers:0   |   LastUpdateAt:2012-11-03 21:26:02  

Asked at 2012-08-12 08:13:05
Looking for a fuel efficient car . My choices so far are : Toyota Matrix , Corolla , Prius , the Honda Fit, Civic , Scion xD, Xa. These range from around $ 10k to $ 20k.

Should I get the entire loan (say 20k ) from a bank and then pay cash for the car , then make monthly payments to the bank? Or should I get a loan from the dealer? I heard that if I get the entire bank loan and pay all cash for the car, it is much cheaper and payments to the bank will be less than if I have a loan of representation.

In any situation , which would be a lot of $ $ to have an emergency savings or incase something goes wrong (temporary loss of work ... unforeseen events ... etc )? Any other suggestions or things I should consider? All help appreciated!
Answer1MAHLATSEAnswered at 2012-11-03 21:25:21
A credit union will usually offer you better rates, but not always. I bought a new car yesterday and my credit union rate was 2% higher than what the dealer offered me. It's good to go in with financing, then make the dealer beat it..they want you to finance through them so they will usually find what you're looking for. The best car on your list is the Civic..looks cool and gets good mpg...Scions are good cars, but they don't negotiate price on pay sticker. A Prius is too expensive, you have to drive it for 5 years to get your money out of it. I'd say the Civic or the Matrix.
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