On Lot Auto Financing (Albuquerque: sales, transporting, credit)

[PinkPumps]

Anyone know of a car lot that does their own financing? I think I'd rather get rid of my car here and look for something new but used in ABQ.

[Poncho_NM]

CarMax and a lot of others also...

But I usually finance my cars through my credit union.


Rich

[rybert]

I think Car Max does (but their no-haggle pricing scheme kinda sucks). Most small lots along Menaul/Lomas have in-house financing, but expect to be shelling out upwards of 11% in financing. You would be better going into a car buying situation with financing set-up with a CU/Bank.

[PinkPumps]

Maybe I should think the car thing over again... just finished paying off my current vehicle and am kind of getting dizzy looking at the price tags at Carmax and the prospect of a car payment for the next 5 years or so, again.

What advice do you all have on the public transportation here? I haven't rode the bus in years but can get used to the idea again until I figure out what I want to do in regards to buying again or transporting what I have.

Taxis? What is the average ride around here?

[Zizzer]

Yes, please separate the financing from the car purchase. It is much better to get pre-approved with your local bank or credit union, as rybert says. You are more likely to get approved for an amount that is actually affordable and get a better interest rate. Also remember that if you are getting on-lot financing remember that you have the right, under federal law, to be given a copy of the paperwork to take home and read BEFORE you sign it.

Also, try to avoid buying the dealer-offered warranties.... Check to see what warranty remains on the car, if it is used, as the ones the dealers try to sell you extra often don't give you much extra coverage and add hundreds to the price of the car.

[mortimer]

Buy the best used car you can afford without financing.

Not having car payments is liberating.

[berncohomes]

I personally would recommend Houston Wholesale Auto on Lomas just east of Carlisle. I would however arrange my own financing first, and if you do it through a local bank/CU they will take care of the paperwork for you.

We have purchased 2 vehicles from them since living here in Albuquerque and we just love the no-pressure sales team with the if they can help you they will help you, if not good luck in your search approach. Which is the complete opposite of the other used car dealers who will try anything in their power to make you buy a car before leaving their lot.

[Zizzer]

Buy the best used car you can afford without financing.

Not having car payments is liberating.

Yes! I love hearing people say things like that.

[Aliciac]

JD Byrider. We have our 3rd & 4th cars from them and are very nice folks.