[jeffny09]

Originally Posted by InventoryGuy

slow down cowboy.....

the suggestion about income is founded actually. it is all based on income to debt and some other factors. ALL lenders will only allow a certain percentage of your earnings to be allotted to your car payment. That percentage varies by lender, credit score, and credit history.

the suggestion of 6 grand down sounds reasonable because with modern lending everyone has a "carry rate" which basically means the amount over invoice being financed. with first time buyers AND bad credit customers a lot of lenders require you to be UNDER 100% carry. In a circumstance like buying a $30k car with 3k mark up you "might" be required to pay all of your tax, title, and license as well as the mark up at signing to get the carry rate under 100% of invoice.

Please explain how requiring a certain monthly income or amount down makes an more money for a dealership?

so before you start spouting bullshit you might want to know what you are talking about.

To the OP, I suggest you get a good co-signer. On most lenders your loan details are based off the highest and best credit on the loan. So if you have a good so-signer then you "might" be required to have less money down and then their income is also considered on the loan. it will help you establish good credit without having to pay high interest in the process.

Listen to everyone else, everything is negotiable. The only thing you should be paying is the negotiated purchase price plus Tax Title and Licensing. There should be no loan fees, inventory tax, dealer prep fees, etc. these are things dealerships try to tack on to make more profit on the deal.

And for the love of God don't listen to these people who almost WANT to fight a dealership. Just do your research and work with a good dealership.

aight homie