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Bank doesn't have to be the 1st thing...see below...wasn't for me. This is providing you are going to a dealership. 1. Find the car you want.
2. Haggle...Haggle...Haggle...
3. Start the paper work.
- 1st is the loan. They will have some financing and they will tell you their prices. Then you tell them ok, well can you check my bank. I'm at XYZ credit union (It's always good to be pre-approved first). Then they'll say, ok they will give you this. Some of them B.S. and say they can't do that...they can. CarMax told me they couldn't, but they had a 3 day policy. 1st get their loan with them and then you have 3 days to get financing somewhere else WITHOUT ANY charges or fees.
- NOTE: Your loan can include your taxes, title, & fees. Roughly that ran me about $1000 and $1000 on my wife's car. I'm in VA.
- Then sign another paper saying you will pay the loan. It seems like I did that paper work 4 times :)
- Then they want more information & paper work for the car.
- Then you do some DMV paperwork. Basically you give the title over to the lender and you get the title back after you pay your loan. 4. If you go with your own bank...they either get the check from the bank directly OR you have to go pick up the check from the bank and take it to them.
5. Drive home hoping you didn't make a mistake :)
6. You may have to go and pick up your tags later. I didn't have temp tags. I had plates as soon as I bought the car. I may have missed some things. But that's the basic idea. Everyone does it different.
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