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[quote=Anonymous]I’m buying a new vehicle and for the first time will need to finance part of it, so I’m new to the car financing game. I’d like to finance 50% and pay for the remainder with cash and proceeds from selling my current car. I’ve been been pre-approved by my credit union for an amount well above the price of the vehicle, and the APR is much better than what the specials that the manufacturer is offering, so I don’t think that I’ll do dealer financing.

What I don’t know is the logistics of how to pay the dealer once I’m done negotiating a price. When do I do what? I know that I’ll need to finalize my loan for the amount that needs to be paid to the dealer, and I’ll need to write a check or wire the cash that I will put down.  But how do I handle selling my current car when I’m not sure if I’ll sell it to the dealer or elsewhere? I’m getting quotes for it and plan to see if the dealer will beat those, but if they can’t then I’ll need to sell it first - and then wait for that payment before closing? Tell me the best way to handle this![/quote]

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