Buying a First New Car at Dealer Smart or Dumb?

[Alvaro D]

I am 18 Years old and just got a job in sales. I make 14hr and i feel great. Maybe that might not seem like alot but to me since i live with my parents and dont have any bill im getting an income of almost 2k a month. I have a old mazda pick up that i drive and friends father promised to buy on Janurary. He is going to give me 3k and im going to use that as a downpayment
I have been wanting a New Toyota Camry Hybrid it will come out to like 30k.
Is it possible for me to get that in the sense that i only had a credit card since june and i might not have to much credit and i cant find a co signer. My parents dont want to help me out. Do i need to give a down payment?
What is the best way to pay less intrestes can anyone help me?

 

[frosty62]

One of the first things the bank will ask is how long have you been employed, the other thing to consider is will they even talk to me, if not that means you will have togo to a loan company, that means high interest. The more you put down the better chance you have of getting a lagit loan from the bank and the less your payments will be. Right now your looking at atleast $500.00 a month payments that not including the insurance. I can tell you that in the south the insurance would be around $2000.00 a year and from what I understand we are cheap compared to the north or west of United states, not trying to putdown what you want however you may want to research this real well, maybe consider a good used care to start and work your way up.
good luck

 

[frosty62]

One of the first things the bank will ask is how long have you been employed, the other thing to consider is will they even talk to me, if not that means you will have togo to a loan company, that means high interest. The more you put down the better chance you have of getting a lagit loan from the bank and the less your payments will be. Right now your looking at atleast $500.00 a month payments that not including the insurance. I can tell you that in the south the insurance would be around $2000.00 a year and from what I understand we are cheap compared to the north or west of United states, not trying to putdown what you want however you may want to research this real well, maybe consider a good used care to start and work your way up.
good luck