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