A: I need help figuring out how to pay for a used car that I am thinking of buying. B: I would be happy to help you. Have you saved up a down payment? A: I will be getting money from selling my old car. B: You really need that money so that a bank or finance company will loan you the rest of the money that you need. A: Who gives loans out to people wanting to buy cars? B: Usually people go to a bank, credit union, or, if they bought the car at a car lot, they might use the dealer finance company. A: What is the best place to get financing? B: The dealer will charge you a higher interest rate, but sometimes they are your only choice if you are just starting out. A: Will I need some documentation when I apply for the loan? B: Just make sure that you bring them your last pay stub and a copy of the pink slip. You can then work on getting insured. Enjoy your new car!
