: I make 40K but I know I have good credit, that I knew when I was aproved for 32K on another car. At this point in time I'm waiting for my 323Ci to come, but the order is this: Apply for a loan, based on the amount you feel confortable making monthly payments for. Shop for the loan BEFORE shopping for the car. If you go to your bank and get a good rate, then you can gor to the dealer with the money. The dealer will do ANYTHING to put you in the car. They make you fill out hundreds of apps. and they know one will hit. I've had 6 cars in the past 3 years, from used to new, and lost money in all transactions, but I love cars, and wanted to drive them home. I learned the hard way, but now I know. I was pre-aproved for 7.5% interest rate, for the money I can afford paying every month. The different I'll put it in cash, or a credit card that I'll pay sooner. By the time of delivery, I'll go with my bank's draft in the amount I'll finance, and the difference will come from my pocket. As long as the dealer gets what says on the last line, they are happy and give you the keys. The financing institution gives you in average 3 to 4 days to bring the proof of purchase.You get their check to the order of the dealer with the bill of sale. Shopping for the loan/rate is as subtle as shopping for the car.
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