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Posted in Auto Loans
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Question By
kclarkga55

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I want the 2014 Dodge Challenger ($26,000), but my Credit score is 630. how would I go about this?
I'm in the U.S. Army

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Check with a credit union on base to see if you can afford the truck.  If not this one, go for one that is a couple years old.  Will have a lower price and still give you many years of good use.  Never buy a brand new vehicle!!! That's just vanity.

Reply by
tix1010

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Helpful to 7 out of 7 people

I have a 2013 Challenger that I bought brand new and wish I would have bought used. If I could do it all over again I would buy an SRT a year or two older instead of a brand new base model. That way you get the performance without the large amount of depreciation.
As far as obtaining your auto loan, the best thing to do is apply for direct financing with your bank or credit union. Keep in mind that dealerships make the majority of their money from partnering with banks to secure financing, not from actually selling the car. Having that approved loan will also give you bargaining power when you are negotiating for your car. It will also help to keep you on budget because you know exactly how much you have to spend, which will prevent you from getting something more expensive when you are looking.
Another tip is to go to the dealership towards the end of the month. They have quotas to meet by their close of business (last business day of the month) so they are typically more motivated to make the sale, which translates to accept a lower offer to get the deal done.
Good luck!

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