Putting a Down Payment on a Used Car: What You Should Know

Browsing for used cars can be an exciting venture. Learning about different makes and models can make you a savvy shopper, but the most important factor in making a purchase is how you plan to pay for your vehicle. If you are saving up a down payment before you buy, we would like to offer you some tips and advice about down payments and how to use them to your best advantage.

 

Lower Financed Cost

 

If you do not have a down payment saved up before you buy, you may want to consider waiting until you can come up with it, if possible. Buying a used car with no down payment means a larger total the lender or dealership must finance to you. Even if you can offer $1,000 as a down payment, this can lower the total cost of the vehicle overall.

 

Calculating a Down Payment

 

A dealership may let you know how much they require as a down payment on any of their used cars, or they may ask what you have to offer. A down payment can come in the form of cash or a trade in. However, if you plan to trade in your old vehicle, you might want to know its value first. Typically, you should plan to pay at least ten to fifteen percent of a car’s total cost as a down payment.

 

A Down Payment May Affect Interest Costs

 

Being able to offer a down payment on a pre-owned vehicle may result in a better interest rate. The more you can offer, the more flexible the lender may be when it comes to finding you a competitive rate. You may want to ask your lender or dealership about their interest offers and how much of a down payment is required for you to get the best rates.

 

The financial end of car shopping can be puzzling. However, understanding how a down payment can affect the monthly payment cost and the interest rates on used cars may help you find a great deal on your next vehicle.

Buying a Used Car: Tips for Senior Drivers

Whether you are a senior citizen planning to buy a used car or someone who is helping your senior parents or relative find a quality vehicle, older drivers have certain needs that you should consider before you buy. We would like to offer you golden-age drivers a few tips that can help you shop for used cars with more confidence.

 

Consider Comfort

 

If you are browsing used cars for yourself, it is important to consider your range of motion and physical limitations. For example, if you have arthritis in your knees, look for a car with extra leg room and seats that adjust automatically. The more easily you can get in and out of your car, the more you can enjoy driving it.

 

Mileage and Usage

 

The kind of car you buy should suit your driving lifestyle, especially when it comes to how often you will use the vehicle and who will be riding with you. For instance, if you plan to drive your grandkids around and need to install infant and booster seats, a four-door vehicle might be a better choice than a smaller two-door model. If you plan to travel long distances with your car, consider a model that is well known for its fuel economy and safety features so you can drive away the miles with confidence.

 

Payment Options

 

If you are helping your senior parents buy a quality used car, then you may want to research your payment options. It is wise to pull a down payment together, and the larger the sum, the more flexible your financing terms may be. Remind your parent or parents that they should include the cost of insurance and other fees into the total cost of what they can afford to pay monthly.

 

As a senior driver, you have a unique set of needs that can affect how you browse for used cars. However, you can improve your buying experience by understanding those needs and with a bit of planning.

What to Look at When Buying a Used Vehicle

When you are exploring the available used cars in your area, there are a number of things to consider. When you know what to look for, it streamlines the process and helps to ensure that you are happy with both the dealership and the vehicle that you pick.

The Dealership

It is imperative that you work with a dealership that is high in quality, so you want to take the time to evaluate them. You can head to the internet to check out reviews to get started. Once you determine that past customers have had a good experience, go there yourself and get a first-person view of what they have to offer.

Financing Options

You want to know what you qualify for, so financing is an important part of the process. When you are visiting the dealership, ask to speak to someone in the finance department. They will be able to give you a general idea of the options that are available.

Quality Vehicle

Used cars still come in excellent condition as long as you make the right choice. You want to talk to their dealership about any certifications, inspections and guarantees that they offer their customers. You can also ask about what happens should there be a major issue with the vehicle shortly after purchasing it. This gives you a better idea concerning how seriously the dealership takes providing quality vehicles.

Financial Agreement

You want to make sure that you can afford the vehicle that you want. Once you choose a few that you are interested in, crunch the numbers to see what the monthly payments and down payment will be.

It is best to take your time as you go through this process. You want to ensure that you are fully evaluating the dealership, your financing options and the vehicle that you choose. This ensures that all three of these elements give you what you need and are the best.

Tips for Finding the Perfect Used Car

Buying a car is a lot of fun! Like any big purchase, it can also be stressful if you’re not sure how to go about it. Fortunately, you can find a used car you love and make your purchase with confidence when you do some research, buy from a dealership, and take a test drive or two!

 

Do Some Research

 

The first thing you need to do is get an idea of the type of vehicle you want to buy. Consider what you will use your new vehicle for. If you have a long commute and often find yourself in cities where parking is tight, you will probably be looking for a smaller, fuel-efficient car you can zip around in with ease. If you enjoy the outdoors and want a vehicle you can take camping, you may decide that a truck with four-wheel drive is a better fit.

 

Buy From a Dealership

 

You don’t need to waste time, energy, and gas driving from place to place to see different cars. We have a large and diverse inventory of used cars you can explore in just one stop. You can test vehicles in a variety of makes and models, from different years, and with different options, to help you figure out which one will be perfect for you. When you buy from a dealership, you also have the expertise of our professionals to help you understand the different options you have and what will work best for you.

 

Take a Test Drive

 

The best way to figure out if a vehicle is the one for you is by taking a test drive – or several! It’s the only way to really get a feel for how a car handles, how comfortable it is, and how you feel behind the wheel. If you are trying to decide between different types of used cars that you are equally fond of, the test drive can help you make up your mind.

 

Buying a used car should be fun! Do your research, buy from a dealership, and be sure to take a test drive to find the perfect car for you.

What Makes Used Cars a Good Choice?

Ever thought about purchasing a vehicle? If you feel like you are putting out a lot of money each week on cabs that are taking you to the places you need to visit, you may prefer to buy your own vehicle instead. Our dealership has an impressively large collection of used cars that are available for purchase. The used options are a good choice for many reasons.

 

You Could Save Your Money

 

Once a car is previously owned, it is not longer nearly as expensive as it originally was when it was first brought over to the dealership. The idea of having something that looks stunning yet does not cost as much as the original asking price is always ideal. Why should you pay more than you want to spend out of your own pockets when our dealership offers high-quality used vehicles at a fraction of the cost? If you want to save without compromising your chance of driving a decent vehicle, come visit us and see what we have to offer to you.


There Are Plenty of Options

 

While saving money is a great reason to buy a used vehicle, another great reason is to have more options to look at before making any major buying decisions. It is not always a good idea to buy the very first car you see, so why not take your time look around our dealership and see what we have to offer? You may quickly find several cars that you could easily picture yourself driving in for years to come. If you want to have more than enough options, our dealership is the place to go.

 

Used vehicles are a great choice because they are often more affordable, but they are still in excellent condition. If you would like to have plenty of options and you want to save money on a car that will run well, come on down to our dealership to take a look at our inventory.

Things to Look for in a Used Car

There are a variety of things to consider when looking at purchasing used cars. From make and model, to size and pulling capability, the list of things is a long one. But after you know what kind of car you want there are several things to consider to help make sure you’re getting the right car for you.

 

A Good History

 

It’s always a good idea to know the history on any vehicle you’re considering purchasing. Many dealerships now offer history reports on their used cars. This tool allows the customer to take a look at mileage, repairs, age, and any other factors that might affect the vehicle. Once you’re satisfied that the car has a good history your sales agent can help you get to work on the next step.

 

Age and Usage
It’s also a good idea to know the details about any specific model you may be looking at. The year the car was made calculated with the amount on the odometer can help you figure how much the car has been driven. This in turn may help you figure out how much wear you can expect the vehicle to have. If you don’t mind a older car or a car with more mileage, you may be able to get a better price from your dealership.

 

Your Sales Agent’s Input
Many times your sales agent will know something about the car that might not be in the printed material. It’s a good idea to see if they have any added input that might help you make a decision. This is also the person you should talk to if you’d like to test drive the car.
Your local used cars dealership is there to help you choose the right car for you. Whether it’s walking you through the history report or sharing their knowledge on the vehicle, you can feel confident that they’re there to help.

How to Prepare Your Finances Before You Buy a Used

There are many factors to consider before you buy a used car, but one of the most important can be how you plan to work the payments into your existing budget. Not only will you have to consider what you will be able to afford, you may also have to think about additional taxes, fees and operational costs. If you’re ready to browse used cars but unsure about the financial side of buying a vehicle, we’re on hand to guide you through the process.

 

Review Your Credit Score

 

Before you visit us at our car lot, it’s important to review your credit score first. Not only will this give you some idea of the kind of financing you might be able to secure, it can help you avoid any surprises during the purchasing process. If your score is not what you expected, then obtain a copy of your credit report so you can review and verify the information. The more you know about your credit score, the more confidently you can approach the car-buying process.

 

Improve Your Budgeting System

 

While you might have some idea about what kind of car payment you can afford, improving your current budgeting system might help you fit that payment into your current budget more efficiently. Gather all your bills and review what you pay monthly. Then, to gauge what kind of car payment you can afford, calculate ten to twenty percent of your monthly net income. Of course, if you have a down payment to offer, this percentage can be slightly higher.

 

Think About the Future

 

Before you commit to a used car payment, you may want to think about if any future events will affect your income status. Some life events that might change your financial situation include moving, having a child or changing jobs. The better you plan, the less stressful your car payment will be.

 

Taking the time to review your finances before you browse used cars can make for a more enjoyable buying experience. The more prepared you are, the less stress you are likely to encounter.

The Benefits of Purchasing a Used Car

If you’re in the market for a new set of wheels, it might be tempting to splurge on a brand new vehicle. However, you’ll most likely be better off in the long run when you choose to buy used cars instead. Here are a few of the best reasons to opt for used instead of new.

 

Avoid Rapid Depreciation

 

New cars can be a fun addition to your household, but should you need to turn around and sell the vehicle anytime soon, you’ll end up losing quite a chunk of your investment. New cars depreciate rapidly in value, and they’re automatically worth about 10 percent less as soon as you drive off the lot. Used cars also depreciate in value over time, but they retain their value for longer than new cars.

 

Make Smaller Payments

 

Even if you can afford the hefty payments on a brand new vehicle, it’s usually best to offer yourself plenty of wiggle room in the budget. It’s always a wise decision to stick with what you can afford and live beneath your means in order to pay off debt quickly and build wealth. When you’re trying to save your money for other important things in life, avoid the high payments on a new car and opt for a used vehicle. You’ll benefit from smaller monthly payments and a shorter term for the loan.

 

Save on Sales Tax

 

Purchasing a new car comes with a host of other fees tacked on to the purchase price. Depending upon where you live, it might be in your favor to ask about the difference in sales tax between new and used vehicles. When you’re looking to save money, it’s in your best interest to be smart about making big purchases. A car loan is a big investment, and you’ll likely save thousands by purchasing used cars.

 

3 Mistakes to Avoid When Buying a Used Car

We want you to have the best experience possible when shopping for used cars on our lot. The last thing we want is for you to have buyer’s remorse. You can increase the chances of you being happy with your purchase if you sidestep these common used car buying mistakes.

 

  1. Going Over Budget

 

Before you step foot on our dealership, you should know exactly what budget you have in place for this purchase. It is beneficial to have an ideal price you would like to spend and a slightly higher price you are willing to go to but refuse to go over. This helps you narrow down your options, so you know what used cars to steer clear of.

 

  1. Not Considering Insurance

 

The price of a used car also entails what you will be paying in insurance and gas. Mileage is a big factor when buying a car. Additionally, you want to speak with your insurance agent beforehand to get an idea of how much you will pay every month for a certain type of vehicle. The insurance amount should be factored into your budget.

 

  1. Not Checking the Tires

 

You want to check every inch of a used car you are thinking of getting. Although looking at the tread is important, you also want to find out the age of the tires and when they were installed. This will let you know if they will remain viable for a while. Additionally, taking any used vehicle out for a test drive should give you a good idea of how well the vehicle handles overall.

 

We want you to be absolutely happy with your purchase, so by knowing exactly what you want before coming, we can help you select the perfect used vehicle. We have many used cars available, but give us a little criteria and we can narrow down the options very quickly.

Factors to Look at When Comparing Two Used Cars

 

Upon visiting our dealership, you may find two or more cars you really like. In order to settle on a final purchase, you need to weigh the pros and cons of each vehicle to find something that is ideal for you. While most people will consider the color and mileage, there are a few other factors to bring to the forefront.

 

Future Maintenance Costs

 

Some types of cars naturally cost a little more to maintain than others. It can be helpful to do your homework before making a purchase so that you have a good idea of what certain car parts cost. If price is a big factor for you, then going with a more affordable option will be preferable. However, people with more money to play with might be OK with acquiring a car with higher maintenance costs.

 

Special Features

 

Certain features do not affect how well the car drives, but they are nice to have. If both cars are more or less the same, then getting the one with a moon roof might be the way to go. You should also look at the stereo system and any heated seats as nice little perks you can get with your vehicle.

 

The Way It Feels

 

You should take a car you are considering out for a test drive before making a deal. If you are trying to decide between two cars, take them both out for a spin. Try to envision driving both vehicles every day on your commute or on road trips. Get a real feel for both cars and how comfortable they both are. Many times, the test drive is what allows the customer to make a final decision.

 

There are numerous used cars to look at, but by keeping a list of the benefits each one provides, you can easily narrow down your choices. It will most likely not take very long to eventually find the one car you really love.