How do car payments work at dealership?

I never bought a car at a dealership and I'm very young no one taught me this stuff. So I got my eyes on this new 2019 Honda Civic coupe, I want to co-sign it under my mom because she has amazing credit and dealer told me payments are based on a person credit. So that being said, on the website it said 2k as down payment and $304 monthly for it. So is that the price Estimate I'll be paying for it. Like does the dealer contact my bank or they just take the downpayment and I pay the monthly payment and sign contracts and that's it?! Or is their more to it

"she has amazing credit"… You mean you don't have money for a car, your mom doesn't have money for another car, yet you want her to buy you a car. A new car that is. Your idea sounds crazy.

The car dealer just takes the money and the signed papers. The car will be theirs until it is fully paid. You will be allowed to drive the car until it gets to be yours or until you fail to pay them. In the latter case they will take away the car and sell it to somebody else. Also the contract you sign usually says that in that case they keep the money.

No money, but "amazing credit".
I don't get it.

Payments are based on persons credit history, value of car, length of loan and percentage rate of loan.

Is this a purchase or lease?

And be a responsible owner and driver.

Be sure the price you see on the website isn't for a lease. A lease and buying the car are two different animals. If you lease the car you never own it, it's like you rent it.

If you are financing the vehicle you have two choices, you can have the dealer arrange financing for you or you can go shop for financing on your own. Either way, you end of up making payments to a bank. The bank holds the title until you make the last payment. Getting your own financing is a little more hassle but you may be able to find better terms. Having the dealer arrange the financing is usually easier, but you may not be getting the best possible interest rate.

You should start by going to your own bank and talk to a lending officer about what they are willing to do for you. You might want to take your mom with you?

Don't put a lot of weight into what the ads say. The ad is written based on the cheapest car they have and assumes the buyer has a great credit rating. Nobody ever gets the exact deal they advertise.

I'd recommend you look at a used car vs new, your taxes (registration) will be lower and your insurance rates will be lower.

Don't forget that you need to register the car, which can costs $100s if not $1000s depending on the value of the car and where you live. When you finance you will be required by the lender to have full coverage insurance, which will also cost $1000s for a young driver. All of that will be in addition to your monthly payment and down payment.

You have to bring the downpayment to the dealership. Your mother would have to be there to sign the paperwork with you. The dealership can finance the car for you or you can apply for financing with whatever bank you want. It's sometimes cheaper to obtain the financing on your own. Don't forget that you will have to also have full insurance on the vehicle. You say you're very young. If you're under 18 you can't sign a contract for anything. Cars depreciate a lot in the first year. You might want to look a buying a car that's a year or two old for quite a bit less money.

First thing you should do is buy a used car for under $5,000. You won't need to pay for collision and comprehensive insurance. You can learn as you go about use, maintenance, and so on. The dealer would have to add sales tax and title transfer fees to the purchase price. And you can never get a car as cheaply as any dealer claims. Those ads are come-ons to get you into the showroom and direct you to something else.

Dealer's do all the work so it is easy for you to buy a car. You sign everything at the dealership and get a payment book or requirements in the mail.

By "dealer", I suppose you mean a new car dealership.
New car dealerships don't themselves finance autos. Most dealerships have a list of finance companies that they can shop around with until they locate one that will finance a car for you at a high interest rate and that will accept a co-signer; or you can arrange financing yourself with a bank, credit union, or some other finance company. The lender pays the auto dealer for the car, and you make monthly payments to the lender.

The price you saw advertised on the internet is just the dealer's "asking" price. That won't be what you end up paying for it; and the dealer doesn't really expect that you'll pay that price. The dealer has no idea of how much the monthly payments are going to be - that's up to the finance company, based on your credit history, the selling price of the car, and how many months you wish to finance.

After you find the car you want, you and the dealer will "dicker" back and forth about the actual selling price. The dealer might end up selling it to you for $1000 less (or more) than the advertised price. After you and the dealer arrive at a mutually agreeable selling price, you begin arranging the financing.

If for any reason you failed to pay then your mum would have to pay. That is fine if she is very rich but its alarming for her if she is not.

Yes, there's more to it.

Here's how it works. If you are at least 18 years old, have good credit, and have a steady and sufficient income, you can probably get a car loan on your own. As a young driver, don't even think about leasing, which is the deal you saw for $304. Loan payments for the same car are going to be higher.

You can get your loan at your local bank or credit union, or you can let the dealer handle it with his own finance company on your behalf. You make payments to the bank or finance company, not the dealer.

If you are not 18 and/or you don't have a good steady and sufficient income, your mom will have to buy the car in her name. You will not be on the contract or be a "co-signer." You can make payments if you can, but the car will belong to your mom.

If your only problem is your credit and you are 18 or older, and you have a good income, then you might be able to get a loan if your mom co-signs with you. However, she should understand the responsibility that she is taking on. The loan shows up on both your and her credit histories as an outstanding debt. If you stop paying, your mom must step in and begin making payments. If both of you stop paying, the car will be repossessed and you'll be sued for the loan balance after the car has been sold at auction.

Through 3rd party financial institutions