It often depends on the cost of the vehicle, and how much is specifically being put down. If the cost is $5000 I would consider a "just buy it" loan, or whatever your bank may call it. These loans have a VERY low interest rate because the most you can borrow is 5K. If the cost is more then that, I would suggest a small auto loan. Assuming the cost of the vehicle is 15K, and you put 1K cash down, then the loan you would need would only be for about 14K. This is much better then the loans some people have to take out when purchasing brand new vehicles. Don't be afraid to shop around for loans as well. See what the banks can do for you! It is important to note that for some banks you must be a member/user in order to receive their services. It is okay to consider a credit union too. They are typically easier to work with. Use a loan payment estimator like the one
HERE or
HERE to estimate your monthly payments, and when you might expect to have the loan payed off.
The best advice I can offer you is to do your homework! Know what you are getting into, and don't forget to account for the unexpected occurrences in life (not just with a vehicle). Settle for something that
meets your needs, but does not put you in the hole. Research, research, research!
GM typically offers a maximum factory warranty of 100,000 miles or 5 years -
whichever comes first. Because it is nearly 2012 already, the earliest model year you could get would probably be a 2008. These factory warranties are usually good for the life of the vehicle (no matter the owner), so long as it fits under the warranty period (5 years/100,000 miles).
Some companies do offer "aftermarket" warranties. Some of these are good, and others are offered by "fly by night" businesses that will take your money and run. Warranties are only good if you actually use them, if not, then they are pointless. It is, more or less, a gamble. I am not saying don't get a warranty, but check them over real well. I would suggest putting a little money away each month, in a separate fund, to use in the event of an unexpected occurrence.
GM Parts Direct is either much cheaper, in which case they sock you with the shipping cost, or about the same as prices seen on eBay. GMPD is great for the DIY'er to use in finding an odd part that many places, short from the dealership, sell. However, many common accessories you can find on eBay are much cheaper, have a more reasonable shipping cost, and you won't have to wait 3+ weeks to get your purchase. Don't get me wrong, GMPD is good for what it is worth, but as I have said before, it is best to look around for the best deal for your money!
I bought my Tahoe through a local dealership and the experience was okay. I have heard worse. My buddy just bought an '03 Silverado from a local guy (private seller) and he had a really good buying experience. They were able to work out a great deal.
