Archive for June, 2020
In North America, a new car retails at an average price of $35,000. Many people in the U.S. cannot afford to purchase a new car, and certainly not pay cash for it. You ought not to be worried that you cannot afford to buy a new car, as you can always walk into a used car dealership and explore your options. After all, buying a used car will give you more value for your money as opposed to buying new. In the United States, most vehicles have changed ownership only three times on average. This means that most of them are still in good shape.
If you decide to buy a used car — which is a wise money decision — you are better off buying from a used car dealership. Most people who have experienced challenges with used vehicles mostly buy from private sellers. Most individuals selling a used car, are more likely looking to get rid of it and get the maximum amount of money they can from the sale. Once the car is off their hands, so does the problems of the vehicle. If you happen to buy from such a seller, you may end up dumping the car in the junkyard after the first test ride.
On the other hand, buying a pre-owned car from a used car dealer will give you confidence that you will get maximum value from the used vehicle. You also get to explore a mix of many more low cost cars, and this expands your options. When you walk into a used car dealership, you increase your chances of buying a used car in the best conditions. Having a buffet of car options is crucial while choosing a pre-owned vehicle that will give you more service in the long term.
Here are three more reasons why buying a used car from a dealership is the best choice.
1. You Save Money
Buying a used car doesn’t imply that you cannot afford a new car. Far from that, it shows that you understand the valuation of cars well enough to make a solid choice. As much as being the first owner of a car is great and prestigious, the car loses value as soon as you drive it out of the dealership. If you’re not planning to keep your new vehicle for at least five years, it will make much more economic sense of buying a used car. If, for instance, you buy a new car and resell it within two years, the second owner of the car will get much more value from the vehicle. Additionally, other costs such as insurance cost will be highest when the car is new and decrease after the first resale.
2. You Benefit From Financing and Other Car Dealership Specials
Used car dealers will help you with the financing of your vehicle, even when you have bad credit or no credit. This is one of the main advantages of buying a used car from a dealership. For people with bad or poor credit, auto-financing is key, given the administrative bottlenecks that limit them from purchasing a vehicle. Furthermore, you get to enjoy massive discounts for vehicles on a quick sale.
3. Quality and Authenticity Guaranteed
In some sad circumstances, you may buy a stolen car from a private seller and find yourself in deep legal trouble. The car may also have been involved in a hit and run, and a CCTV camera caught the action. After purchasing the car, you or the police may never trace the seller, and you may be liable for the offenses.
Buying a used car from a car dealership is not only the safest option but also the best value for money. If you are looking to buy a pre-owned vehicle, you should first weigh the pool of options you get from a used car dealership before making a purchase. Ultimately, used car dealers will always have high quality used cars, and you will also have the best discount rates.
Buying a high-quality, used car is a huge investment. Used vehicle sales have been on an uptick for seven consecutive years. It is vital that you get the best car deal with affordable finance options. The choices you make need to be thoroughly thought out before borrowing money for a purchase.
Therefore, if you have found your dream car that is a second-hand car, consider shopping for used car loans. The latest market research reveals that one in every four people opt for car loans, in view of the rise in used vehicle sales.
Ideally, you would pay for your car with cash in hand. That way, you would not have to deal with debt or loan repayments. However, that is an impossibility for most Americans. To get your desired car, you will most likely rely on financing. Here are seven things you should know before settling for a used car financing option.
1. Increased Value
Some car financing options are accompanied by bonuses occasionally. Car dealership specials give added perks such as free servicing, free road tax, and fuel. These provide the loan added value that you would not find elsewhere.
Many used car dealerships provide their own financing services. This referred to as in house financing. Obtaining financing from the dealership you are buying from can be the ultimate convenience of owning a car. No credit required for those with low or non-existent credit ratings.
3. Custom Payment Plan
Price should not stop you from getting your desired vehicle. However, it will immensely affect your financial plan. Getting a car loan to work for you is crucial. Always try and customize your payment schedule to match what you earn and can, therefore, comfortably pay.
Used vehicles for sale in lots often have a great selection with a wide range of prices that can fit almost any budget. Therefore, with the right financing option you do not have to comprise and get a car that is not suitable even for those with specialized needs.
5. Buy Here Pay Here
In this scenario, the decision to approve your car loan is to be done by the dealership entity. They are often more flexible and can even finance customers with poor credit scores. Getting financing from the seller means that buying the used truck can be relatively quick and easy.
6. Helps Build Credit History
You are still likely to obtain an auto loan even if you have a poor credit record. The good thing about car payments is that they will help rebuild your credit history. However, this may only happen if you are able to make all scheduled payments before the deadline.
7. Low-Risk Option
Used vehicles for sale could either be unsecured or secured on the car itself. It represents a very low-risk option that’s much more attractive than a secured loan, which could put your other assets at risk should you default on payment.
The growth of the used car finance market is due primarily to the market becoming more organized especially when it comes to used vehicles for sale programs. Again, rapid technological advances have also made it possible for clients to buy used cars online. For more details on how to do this, kindly contact us today.
Buy here pay here is a phrase that you’ve seen lots of times, but do you really know what it means and how it can help you when you’re shopping for a new car? For many people looking for a great pre owned car, the buy here pay here option is the best possible choice. Find out what it means and what it can do for you when it comes to shopping for used auto sales.
The Meaning of Buy Here Pay Here
You’ll see signs advertising buy here pay here outside of lots used by used car dealers. Sometimes, the phrase is abbreviated to BHPH. No matter what it’s called, buy here pay here means that you don’t have to go through a bank or any other third-party institution in order to purchase and finance a new or used vehicle. This option is absolutely perfect for those with poor credit or no credit history.
However, buy here pay here isn’t necessarily the best option for those who do have good credit. The loans may have high interest rates because they’re geared toward those who don’t have a good credit rating. Those who do have good credit can option a better financial arrangement through a bank or another lending institution.
Having poor credit history or no credit history shouldn’t keep you from purchasing a good used vehicle. It also shouldn’t force you to deal with buying strictly from individuals through personal sales. There are many used car dealers who offer a buy here pay here option so you can obtain financing directly through the dealership. You will be asked basic financial questions. Car dealerships work to make the entire process very quick. The point of by here pay here is to help you get into a vehicle and get off the lot quickly so you can get out there and start driving around.
When you’re in the market to buy a used car, you don’t have to avoid the dealerships and you don’t have to let your bad credit keep you from getting a great pre owned vehicle. Thanks to buy here pay here, literally anyone can get a used car and get out there to start driving. Typically, the whole process takes less than an hour. Since you’ll be making a pretty major purchase, that’s not bad at all!
Finding Buy Here Pay Here Car Lots
Used cars actually account for three out of every four automotive sales in the U.S. That’s a lot of people purchasing pre owned cars. You can be one of them thanks to buy here pay here car lots that make it easy for you to finance a vehicle. You may have high payments and high interest rates, but this is a normal consequence of having poor credit or no credit. Don’t let it get you down. As you make your car payments on time, your credit rating will greatly improve. By the time you’re ready to purchase a new used car or even a brand-new car, you’ll have a much better credit history and you’ll be able to get much better terms on your car or truck loan.
Buy here pay here is a great way to build up credit for the first time or rebuild credit after you’ve had some rough financial times. You don’t have to qualify for a standard auto loan or worry about making a good impression for the bank. You can deal directly with a used car dealer after finding a used car that you like and you can get the whole process done pretty quickly and painlessly to get back off the lot with a car that’s new to you, at least. Buying a used car shouldn’t be and doesn’t have to be a stressful experience thanks to options like buy here pay here car loans.