First time buying a used car- need help

[bak3rme]

hey guys any advice here would be great. also a quick walk-through or a detailed one if you are up to type would be great!

I'm 25, I have a credit history of 5 years with my credit card with no relinquishes, payment has all been on time.

I'm in the very early stages looking to financing my first car. I am looking around 10k for a car with a down payment of 1-2k.

I've researched a bit and I would start out going to a credit union instead of bank to get a personal loan. When i get approved for what I want (if I do) then I can shop. Does that sound right? or do I find the car I want first (private seller so far) and negotiate a price..then go to credit union to get a personal/auto loan for the car. But since its a private seller, they would want all cash or check..so I can get a check from the Credit union and give the seller the check and the Credit union takes the car title until i pay it off?

Also what would the interest rate look like? I can down 2k right now, the car is from a private seller for $9900, but can you down money with a private seller?

Can you guys tell me about the fees that come along with this also? title, registration, tags, any other fees.

What are your inputs on paths to take about buying my first used car.

Thanks

 

[fourwd1]

It doesn't hurt to get "pre-approved" first, especially if you go to a dealer.
They will want you to finance thru them, and you'll pay a higher interest rate.
Then once you find the vehicle you want and settle on price, get all the info and go back to the credit union.
The credit union can give you a check which anyone should accept.
As far as rates, YOU need to find that out. Same for taxes and fees, we don't know what things are we're you live, you need to research that.

 

[dapslappy]

go private

first read this http://www.toyota-4runner.org/3rd-gen-t4rs/82033-3rd-gen-4runner-buyers-guide.html
I say buy from private party instead of dealer. Spend lots of time looking online to see whats for sale. go look at any and all that interest you, put the time in to actually looking at the vehicles, lots and lots, test drive it, talk to the seller, but do not buy anything initially. There are few things more plentiful in this world than used vehicles for sale. Just exercise some patience. Also, figure out what you want, what you actually really want. You'll find what you are looking for.
MOST IMPORTANT: pay the $100-$200 for a thorough pre purchase inspection by a good mechanic. They can stop at $100 if its not looking good, but can do the full $200 inspection if it does look good. Lets say you spend $100 and decide not to buy it. You have not wasted that $100, you've saved yourself 100's or 1000's for repairs. Lets say you do this with 3 vehicles you don't buy. Best $300 you'll spend. Will save sooo much $ in both the short and long run. And, it gives you legitimate negotiating leverage with the seller. If it needs new brakes in a couple of months, it if need a basic tune up in 6 months, if it needs the timing belt replaced in a year these are real costs you need to factor into the purchase price. The seller can try to "yeah, but" you on things like this but they will cost 200 or 300 or 600, etc. Adds up quick.
Again, there are an unlimited supply of second hand vehicles for sale. Walk away unless it is what you have been looking for and it is a fair price.