Before Purchasing my First Truck what Do I Need to Know?

• How old do I have to be before purchasing a truck?

To buy a vehicle, you must be at least 18 years old.

• Before I go to a dealer or bank, what do I need?

Before applying for funding your used trucks in sacramento at a dealer or bank, you should have some basic information with yours.  If you already have coverage, always have your driver’s license, prescription, and an insurance card.  (If you don’t, be prepared to purchase a policy before driving in your used trucks in sacramento) We also recommend that you have your latest paycheck stub, as well as some form of proof of residency, such as a telephone bill, utility bill, etc.

• Do I need a good credit score to fund a truck?

Although getting credibility built helps you to take advantage of lower interest rates and down payment conditions, certain borrowers also finance those with no credit history at all.  If you are confused about your credit history, you can get a free report from annualcreditreport.com or call us at Petrol Auto Sales, where we will be delighted to provide you with a free consultation on auto finance without any credit checks. We give this as a benefit to anyone who asks and will happily suggest the best course of action when purchasing your first vehicle.

• Which sort of interest rate would I expect to pay?

Depending on a number of reasons, interest rates for car loans can differ.  These involve the credit history, whether or not you invest with the aid of a cosigner, the year and make of the vehicle, the distance, the size of the mortgage, the down payment, and, of course, the amount you borrow.  Credit unions can generally offer some of the lowest rates, with a traditional first-time buyer plan varying from 6.99% to 18.99%.  Borrowers with unproven sources of income, a short time at work, or negative credit history can expect higher payments.

• Which amount of down payment do I need?

Each case is somewhat special.  Some first-time buyer services don’t require any money down at all.  However, to be safe, we recommend that you save at least 10% of the selling price as a down payment.  Note that you will be responsible for paying sales tax (in most states) as well as different DMV licensing and transfer fees in addition to the selling price.  Such charges maybe 10% or more of the truck’s selling price, but making 10% less implies you’re not borrowing and paying interest on your sales tax.

I found a car like that, but the dealer who sold it said that I had to buy something else.

why can’t I buy the truck I want?

Many borrowers have particular needs for a first-time buyer when it comes to year and miles on a vehicle, but sometimes sellers may take full advantage of your condition by trying to sell you an automobile you don’t want, just because they’re going to make more cash. A car is a large investment in the long term.  If you want a second opinion on something that a dealer tells you, get in touch with us at Petrol Auto Sales and we’ll be pleased to seek advice for free.