Car+Buying+Tips

> This site provides informations for teens who are buying their first car. It gives knowledge about what kind of credit you should have and the responiblility that comes with owning a car. It includes all of the information that a teen needs before considering a car and while trying to choice one, along with how to pay it off.
 * "First Time Car Buying Tips For Teens & Safe Teen Driving." //CarBuyingTips.com New Car Buying Guide, Avoiding Dealer Scams, New Cars, Used Car Buying//. Web. 05 Apr. 2011. <__ [|http://www.carbuyingtips.com/first-time-buyer.htm>.] __

=**Facts**=
 * 1) You must also put down 20% on the car to keep from getting upside down, where you owe more on the car than it is worth.
 * 2) **[|Yahoo!Autos]**, **[|Cars.com]**, **[|InvoiceDealers]**, **[|Edmunds.com]**, **[|MyRide.com]** and **[|CarsDirect]** all help you save when buying new cars.
 * 3) **[|AutoCheck Vehicle History Report]** on the Vehicle Identification Number (VIN)
 * 4) have a mechanic inspect the car on a lift.
 * 5) There is no 3 day grace period to return your car
 * 6) Lack of credit history is the biggest barrier, it is very difficult to get a car loan
 * 7) Lenders won't approve car loans on used cars older than 5 years
 * 8) Insurance rates for teens especially are very costly
 * 9) Insurance rates for single males under the age of 25 are also very costly
 * 10) **[|if your Score]** is < 550, don't apply for new car loans
 * 11) People with bad credit pay higher auto loan interest rates.
 * 12) Lenders want to see you have a minimum monthly income of $1600
 * 13) department store card are mostly 21% APR.
 * 14) credit card balances above 50%, or they will reject you.
 * 15) Co-sign loans can help you establish credit