Used Car Loans

Qualify For a Low Rate Used Auto Loan Regardless of Your Credit!

We can help you get a low rate used car loan to purchase a car from a dealer or from a person to person sale. Buying a used car could be a smart decision because of the fact that a brand new car could possibly lose up to seventy percent of its value during the first 5 years! You could save big by purchasing a used car instead of a new one. Watch your local classifieds and search on the web for a great bargain that an individual seller has to offer or check local dealers in your city. Apply for a loan.

We’ve all watched friends buy a brand new car. They are really excited about their purchase…for a few months. After a year or two, they usually complain about their high loan payments. Don’t make the same mistake! Buying a used car, even if it is just a year old, can help you save big. A new car drops in value dramatically as soon as you drive it off the lot. Plus, used cars these days can come with warranty and service packages, just like a new car. If the car you want isn’t available used or comes with a 0% APR offer, buying it new may make sense. Find a low rate used car loan today.

Used car loan rates are generally higher then that of a new purchase rate. The reason for this is used car financing options are not as profitable for the financial institutions as the new car loans which normally involve more money. Receiving a loan through a dealer should be your final choice. More times than not, they charge a much higher loan rate than some of the other options that people have. A good amount of finance companies that work with car dealers allow the dealer to mark up the interest rates if they so chose. The buyer might be told that they didn’t qualify for the lower rate loan, and then the earning from the additional charge is usually divided between the dealer and the lender.

When Buying a Used Car

If you are buying a used car from a car lot, make sure that the car you are looking at has some kind of a warranty. If not, it may be a good choice to take the used car that you are looking at to your mechanic or one that you know can and will be trusted. Have them go over everything and take a good look at the engine and transmission.

Most dealers will give you a free CARFAX report for the vehicle you are thinking about buying. If not, go online and order one yourself. This report will show you how many owners a car has had, where it’s been located, if it was in an accident and other “lemon” indicators. It is especially important to check out a car’s history, as recent floods in the south have put a lot of damaged cars on the market.