[luperona9]

Helping a computer/money illiterate older neighbor buy, (not lease) a new Ram pickup. Going with him to dealer/s tomorrow. I Need to become an expert overnight.

His credit is 722 and wants/needs to put down as little as possible.

He just joined samsclub and I printed out the Sam's club/true car paperwork for the ram 1500 big Horn /lone star 2wd quad cab. Only option he wants is the hemi v8.

There are all kinds of rebates listed. I think one of them is not offered if ram does the financing.

Do you guys have any tips? Warnings? Best bank to finance other than dealer?

Thank you for any input

[BobnBev]

Tell him to forget the hemi.....I have one, and it's not worth it.

[luperona9]

Originally Posted by BobnBev

Tell him to forget the hemi.....I have one, and it's not worth it.

He wants to tow more than the v6 allows. Any other options to hemi?

[Kenswing]

Originally Posted by luperona9

He wants to tow more than the v6 allows. Any other options to hemi?

Yeah.. Step up to the 3/4 ton and get a diesel. Those are more meant for towing than the 1500..

[retiredguy123]

I think the best way to finance a vehicle is to be a member of a credit union, like Penfed.org and get a loan from them. Join the credit union and get the loan approved before you go to the dealership. Do not borrow the money through the dealer. You will get ripped off. Another possibility is to use equity in your house and get a home equity loan. Good luck.

[Fredman]

Don’t use equity in house to buy a depreciating vehicle.

[ColdNoMore]

Originally Posted by Fredman

Don’t use equity in house to buy a depreciating vehicle.

Agreed.

If the OP is correct about the neighbor (older/money illiterate/needs to put down as little as possible), finding a credit union to qualify ahead of time and looking for a low mileage used one...would probably be more financially prudent.

Particularly if he's like the average Villager...who doesn't put many annual miles on a vehicle.

[Kerry Azz]

Originally Posted by luperona9

Helping a computer/money illiterate older neighbor buy, (not lease) a new Ram pickup. Going with him to dealer/s tomorrow. I Need to become an expert overnight.

His credit is 722 and wants/needs to put down as little as possible.

He just joined samsclub and I printed out the Sam's club/true car paperwork for the ram 1500 big Horn /lone star 2wd quad cab. Only option he wants is the hemi v8.

There are all kinds of rebates listed. I think one of them is not offered if ram does the financing.

Do you guys have any tips? Warnings? Best bank to finance other than dealer?

Thank you for any input

30+ years in auto sales and management. The end of the 2nd quarter will be coming up soon. In a few months the 2020 models will be available and the 2019 will be drastically reduced. I’d strongly recommend you save the gas and shop online and ask for an out the door price and let them know that you’ll be getting 3 prices online then compare them. Ask the salesperson what rebates are available and to list them on your email quote.

[BobnBev]

Originally Posted by Kenswing

Yeah.. Step up to the 3/4 ton and get a diesel. Those are more meant for towing than the 1500..

Very good advice!!!

[retiredguy123]

Originally Posted by Fredman

Don’t use equity in house to buy a depreciating vehicle.

I guess, if there is a possibility that you could lose your house to forclosure, then you may be correct. But, if not, and I had to borrow money, I would be looking for the lowest interest rate available.

[Topspinmo]

Originally Posted by BobnBev

Very good advice!!!

Not really if he don’t need something to tow that much, plus 3/4 ton diesel probably be way out of his price range of 40K plus