Comments on: Will My Credit Cards Affect My Ability to Get a Car Loan? http://themilitarywallet.com/will-my-credit-cards-affect-my-ability-to-get-a-car-loan/ Personal finance for military, veterans, and their families Wed, 08 Feb 2012 13:45:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: threadbndr (karla) http://themilitarywallet.com/will-my-credit-cards-affect-my-ability-to-get-a-car-loan/comment-page-1/#comment-1230 threadbndr (karla) Thu, 15 Jan 2009 18:27:26 +0000 http://themilitarywallet.com/?p=215#comment-1230 Shopping for credit is your best weapon in the fight for a new car (and believe me, it FEELS like a fight sometimes - the car dealer is NOT an allied force!) Have your finanacing in place - check your credit union too. USAA is also a good place to look. Read some articles and books on how to negotiate a car deal. You should consider the purchase price, finanacing and trade in/down payment negotiations are three seperate deals. Be prepared to walk away at any time - don't fall in love with a specific car. Also consider a late model used car instead of a brand new one. The depreciation when you first drive a new car off the lot can but upwards of 30%!!!! Let somebody else take that hit. My first 'new' car was a voluntary repo - it had less than 10,000 miles on it. The soldier who owned it before me just got in over his head; too bad for him, but great for me. Good luck with the car, and thank you for your service Karla (Marine mom and MIL) Shopping for credit is your best weapon in the fight for a new car (and believe me, it FEELS like a fight sometimes – the car dealer is NOT an allied force!)

Have your finanacing in place – check your credit union too. USAA is also a good place to look.

Read some articles and books on how to negotiate a car deal. You should consider the purchase price, finanacing and trade in/down payment negotiations are three seperate deals. Be prepared to walk away at any time – don’t fall in love with a specific car.

Also consider a late model used car instead of a brand new one. The depreciation when you first drive a new car off the lot can but upwards of 30%!!!! Let somebody else take that hit. My first ‘new’ car was a voluntary repo – it had less than 10,000 miles on it. The soldier who owned it before me just got in over his head; too bad for him, but great for me.

Good luck with the car, and thank you for your service

Karla (Marine mom and MIL)

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