| Getting a car loan in New York can be tricky if you do | | | | financing offer in an ad, bring the ad in with you to |
| not follow the steps in the right order. One thing that | | | | show the dealer. If you have poor credit, you are not |
| you need to be aware of especially is the fact that | | | | likely to get the advertised rate, but you might be able |
| before you can get a car loan in New York, you will | | | | to negotiate a lower rate than the dealer is initially |
| need to show proof of auto insurance. It may seem | | | | willing to give you.3. Don't pay more for a |
| like putting the cart before the horse, but in New York, | | | | factory-ordered car than for one already sitting on the |
| you pretty much need the car insured before you can | | | | premises.4. If you get a car loan to buy a vehicle from |
| actually buy it. This is because if you purchase a car | | | | a private seller, be aware of the needed documents |
| with a loan, New York law requires the dealer to | | | | you will have to submit to have the car property |
| handle the titling and registration for you. And before | | | | registered:· Proof of insurance (New York State |
| you can register your car in New York, you have to | | | | Insurance ID Card) |
| have proof of insurance.Be aware that when the | | | | · Proof that you own the car |
| dealer handles all of the necessary steps to getting | | | | · Documentation of your identity, and separate |
| your registration and titling, many of them will charge | | | | documentation of your birthdate |
| you the additional fees above and beyond the amount | | | | · Damage and odometer disclosure statements |
| of your loan. Some will roll these charges into your car | | | | · A special form: Form MV-82 |
| loan, and others will allow you to arrange to pay the | | | | · Enough money to cover all of the fees that will |
| expenses out of pocket.Here are some other steps to | | | | be assessed (title certificate fee, property tax, |
| follow when getting a car loan in New York:1. Shop | | | | registration fee, plates, automobile use tax, any |
| around for the best interest rates on your car loan. | | | | transfer fees that may be necessary, sales tax) |
| Dealers usually do not have the best interest rates. | | | | · Proof of sales tax paid, sales tax exemption (if |
| You can usually get a better rate from a bank or | | | | already paid) or the purchase price (so that the DMV |
| credit union.2. If you are responding to a special | | | | can assess how much sales tax you owe. |