Is $5k too much for a 2013 Chevy Sonic with 131,000 miles?
So, I'm trying to buy a car. It's priced at $4995. The place offers your W2 as a down payment. However, they said due to my low income situation they would have to deal with a finance company, get a cosigner, or put down $500 to $1000. I have a job and income I make $1000 a month. Shouldn't that be good enough? Maybe I can wait till my stimulus payment comes in to make a down payment. Then pay monthly payments which they claim start as low as $99 per month. They also have claimed no credit refused.
They claim payments start at $99 a month. Do not believe them Seriously, do not believe them. Of course no credit refused, they get commission, the finance company makes a profit, you pay far more money than the asking price. Why not wait until you can pay cash? Stimulus money plus savings and you can pay cash. There are thousands of cars for sale, wait until you can afford it. Do not pay more than a dollar for the dollar you earn. Meaning stay away from finance companies.
