Say an older Lincoln is the same price as a newer Nissan why do they say you can't have the Lincoln (Probably because it's a respected generation) but sale you the other? How do I get the Lincoln?
To add I have no credit history, I was thinking of putting a bigger down payment for the car I want. It's...
No credit history, no cosigner. You aren't getting a loan unless you are willing to sign a contract with a shark. Predator lenders are the ONLY companies that will offer you a loan and expect to pay above 20% interest for your loan. Doubling the cost of the car.
With no credit and no cosigner, you don't exactly have a lot of leverage here. You'll be lucky just to go home with "a" car.
Why you can't buy the Linc.? It may be "clickbait" to get people into the carlot as the Linc. is a more classier car than the Nissan? (so it may just be an advertising PLOY to draw people into the Lot. Like a "FOR SALE" SIGN....the sign is not for sale but it is a tool to convince the public to stop on by.
. It "could be" like that. I have seen Muscle cars sitting in the lot or out on Display(they are missing the motor and running gear) but have the $Figure on the car windscreen as a promotional thing..
. However, I "do believe they have to sell it to you if you come and pay cash in full" or you can take them to court. On the sample car it would have to say in the print "for display purposes only" or example only...or something to that effect.
. You are free to Look on another lot or private sale. However, private sales want all the cash NOW, so you have to make up the payment plan with a financial institution.
You meant "sell". I'd say you should stop this process. You don't seem to have a viable plan here.
Why do you want an old lincoln? You are the one buying it if you have the money buy whatever you want.
Apparently you are dealing with a buy here, pay here dealership. Even though they have the same price on several cars, they can also set the minimum down payment for each one differently. It could be that they want to sell a particular car that has been sitting on the lot longer, or it could be that they have more money invested in one car than the other.
The normal rule of thumb for such dealers is that they want to be close to breaking even from the down payment, and are financing their profit.
In other cases the dealer may actually be using a finance company that has limits on the age of the car they will finance, or base the length of time that they will finance a vehicle on the model year. A shorter loan period could increase the monthly payment to an amount that you do not qualify for
If you're trying to finance the vehicle (and yes, even dirt lots use lenders such as CAC and Exeter), then the salesman knows that the newer a car is, the better chance you have of being approved. Lenders shy away from used cars when the buyer has little or no credit, or bad credit.
Take a 4 year-old used car, with 60,000 miles, and sell it to someone with little or bad credit. A year later, if something happens to the car (let's say the transmission goes out, a $3000 fix), odds are the bad credit person walks away, and the lender can't get their money.
Take the same buyer, on a new car. After a year, the transmission goes, but it's covered under warranty. The fix is free, and chances are, the buyer gets a rental until it's done. It's more likely the bad credit buyer stays in the car.
They're up selling the car they think the lender will buy...
I don't know why a car dealer would say you can't buy a particular car unless (a) they already have someone else interested in buying it, or (b) it's a kind of bait and switch, where people come to the dealer because of the Lincoln, but they want you to buy another car.
Pay cash for your car. The loan is just a way for you to get into deeper yogurt than you need.
What, you can't afford the one you want, that way? Change what you want!