Help: New Car buying, NV

dcyuen

Thank you for checking on my post ^^ I live in Las Vegas, and I'm interested in the SPORTS model and need it SOON, I encounter some questions, being first New car owner Thanks in advance!

1 - Shop for RATE: [*Great credit score]
(a) Will Pre-approval hurts my credit score when I shop around Auto-loans for the best rate? Will it consider as "Hard" or "Soft" pull?

(b) I read that there's a 14 days shopping window for the credit report? If so, do i have to close the deal within the 14 days then??

(c) Is the State credit union as good as the bank? Top ones as followed: One Nevada Credit Union, Greater Nevada Credit Union, WestStar.

(d) I was wonder what's the rate is going for recently? Can some1 share your experience? I don't really mind the down payment, is more about the total deal offers

2 - Best TIME to buy? I've been told that the mid of the month is more ideal so Sales may offers more, try to reach their sales-goal by month end?

3 - Shop for PRICE? I created an excel sheet about the inventory from every HONDA dealers in: Nevada, Utah, Arizona and some in California. Is it good to use it for negotiation?

That's all I could think of now, thank you for your time and I really appreciated your sharing.. Cheers~

-Don

kyfdx

dcyuen said:

Thank you for checking on my post ^^ I live in Las Vegas, and I'm interested in the SPORTS model and need it SOON, I encounter some questions, being first New car owner Thanks in advance!

1 - Shop for RATE: [*Great credit score]
(a) Will Pre-approval hurts my credit score when I shop around Auto-loans for the best rate? Will it consider as "Hard" or "Soft" pull?

(b) I read that there's a 14 days shopping window for the credit report? If so, do i have to close the deal within the 14 days then??

(c) Is the State credit union as good as the bank? Top ones as followed: One Nevada Credit Union, Greater Nevada Credit Union, WestStar.

(d) I was wonder what's the rate is going for recently? Can some1 share your experience? I don't really mind the down payment, is more about the total deal offers

2 - Best TIME to buy? I've been told that the mid of the month is more ideal so Sales may offers more, try to reach their sales-goal by month end?

3 - Shop for PRICE? I created an excel sheet about the inventory from every HONDA dealers in: Nevada, Utah, Arizona and some in California. Is it good to use it for negotiation?

That's all I could think of now, thank you for your time and I really appreciated your sharing.. Cheers~

-Don

a) Don't know
b) Don't know
c) Yes, no problems with CUs
d) Honda Finance is offering 1.9% APR up to 60 months on the Fit. That will be hard to beat.

Edmunds Pricing tools:
https://www.edmunds.com/tmv.html

I wouldn't worry about credit pulls. If your credit is in good shape, a few points on your score won't matter.

oldfarmer50

From what I hear multiple credit inquiries within 30 days don’t have a major impact on credit. I believe they will all be considered as one hard pull. Credit Unions usually will beat banks but check out advertised rates as those are usually what top tier borrowers get. Not a bad idea to get pre-approved and keep that in reserve during negotiations. Best new car rates at my credit union were 2.9% recently so if the dealer can beat that go for it.

They say best time to buy is the last day of the month or quarter or year as a salesperson or dealer might need just one more sale to get into the next category of bonuses. You won’t know that of course.

From what I’ve heard spreadsheets, green eyeshades, or your college diplomas don’t impress salespeople. Research market values on sites like Edmunds and then offer what you think is fair. If you can’t get close to your price walk out. The door is your best negotiating tool. In my experience your best deal is on a car the dealer has on his lot.

Oh, don’t tell the salesperson that you NEED the car NOW. You’ll lose all your leverage.