I live in Las Vegas and have a
500 dollars down payment, will that be enough for a car I want
to buy?
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Let's face it, Las Vegans, the current economic
tailspin we are in shows no sign of easing any time soon. The
unemployment rate is hovering at close to 15%. Does that mean
we should all relocate to more prosperous environs? Maybe so,
but that just isn't a practical solution for most people living
here. We still have to function and get by as best we can. That
brings me to the point of this informational article. How does
one secure reliable transportation with as little as $500 down
when you have a poor credit history? There are certain dealers
that target employed people who may be a little down on their
luck. These dealers are typically known as buy
here pay here dealers. They often advertise for customers
by stating that a prospective client doesn't need stellar credit....
just a job. Therefore, please note, that employment is a basic
prerequisite for most dealers, or at the very least, a permanent
source of income. Examples can be disability checks or alimony
payments, or child support or rental income. Let's be clear about
the $500
requirement. It really isn't a lot of money to commit when
buying a vehicle, but, and this is why most buy here pay here
dealers want this minimum amount down, it indicates that you had
the discipline to save that dollar amount toward attainment of
a goal. This also shows focus, purpose, and a respect for differing
goals. All of these qualities are evaluated when making decisions
to allow you to drive away with one of their vehicles. You should
be flexible in your vehicle choice. We all want an upscale ride,
but giving in to that temptation may have got us into our current
economic state to begin with.
Another tip to consider, is making extra payments. Can you think
of a better way to inspire trust and confidence in you?. If you
pursue this course, many dealers will be happy to upgrade you
into that ride of choice.
Also,be realistic when discussing a repayment schedule and payment
amount. Remember it doesn't do much good to make extra payments,
if the rest of your payment history is spotty. Your goal here
is to get reliable transportation. So, in short, become somewhat
of a salesman for yourself when speaking to the decision makers,
be honest about your current economic state, and make every attempt
to honor your word.
One other thing, if you know that you may fall behind in your
payment schedule, talk to dealer and explain why. The last thing
a dealer wants to do is to take the vehicle back.. Once he made
a commitment, he may be willing to ride it out with you
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