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iccky · 08-14-2005, 07:46 AM

So I'm working on buying my first car. A big step for someone who didn't get their driver's license until 19. But that's not all. In addition to being my first car, this is going to be the first time in my life I'm going to be taking on a significant amount of debt. That's right, as I shop for cars, I'm also shopping for a car loan of five or six grand.

My question, then is which comes first, the loan or the car? Am I supposed to find a car I want to buy and then go to the bank to get a loan? Or should I get pre-approved for the loan first and then go find a car?

And does anyone have tips on a reliable small high-MPG car I can buy for under 8k that will be relatively trouble free for the next 5 years?

08-14-2005, 07:46 AM	#1 (permalink)
iccky Psycho Location: Princeton, NJ	Auto Loan Procedure So I'm working on buying my first car. A big step for someone who didn't get their driver's license until 19. But that's not all. In addition to being my first car, this is going to be the first time in my life I'm going to be taking on a significant amount of debt. That's right, as I shop for cars, I'm also shopping for a car loan of five or six grand. My question, then is which comes first, the loan or the car? Am I supposed to find a car I want to buy and then go to the bank to get a loan? Or should I get pre-approved for the loan first and then go find a car? And does anyone have tips on a reliable small high-MPG car I can buy for under 8k that will be relatively trouble free for the next 5 years?