Car Shopping and Ways To Pay for It

by | Cars and Financing, Great Deals

A franchised new car dealership is a reliable, if not the only, source for anyone who wants to buy a new car.  But to those who prefer buying used or previously owned cars, there are plenty of options and sources one could choose from to be able to make that vehicle purchase the perfect one.

Easiest Qualification for Local Car Loans – 98% of all credit types accepted!!!

The following are some of the readily as well as easily available resources to consider when buying a used car.

 

The Used Car Superstore | Car Shopping

car shoppingImagine it as the Wal-Mart of used cars.  There have been numerous used car superstores that have mushroomed over the last five years. These superstores usually have a large inventory of used cars, and can number anywhere from 400 to 500 vehicles.  The cars found in these stores more often than not are late models.

The vehicles found in these stores come from auctions that cater specially to car dealers. The good thing about buying from these used car superstores is that the warranty they provide are often equivalent to the warranty coverage provided by dealers who sell new cars.   However, it is still best to compare while car shopping.

 

New Car Dealer

The logic here is that since new car buyers usually trade in their old cars when they buy a new one, the collection that new car dealerships have are almost always extensive.  So used car buyers have a wider range of vehicles to choose from.  Also, new car dealerships provide better reconditioning to the used cars traded to them.  They are also a more reliable source of used cars because their business is more established compared to other used car dealers. Be aware though that sometimes it would take a lot of negotiation on the price of the vehicle to be purchased.  They may also attempt to make you buy more car than what you would actually need when car shopping at a new dealership.

 

Used Car Dealers

There are usually hundreds of used car dealerships in every state.  Sometimes, they are small operations that contain not more than fifteen cars in a lot.

Established used car dealers, can have as many as 100 cars or more on their lot.  The great thing about buying from used car dealers is that the prices they offer are a lot less than new car dealerships.  Also, it is fairly easier to negotiate with them.  Not so good news though, the quality of these cars are usually less than the new ones of course.  There also may be a smaller selection of makes and models.

 

Private Owners

The good thing about buying from private owners is that the prices that they offer are usually reasonable compared to dealers because this is in accordance with book values.  You also get the opportunity to actually speak with the owner of the vehicle and witness for yourself how the car was or was not, cared for.  A potential disadvantage of this scenario, however, is that it could be a bit inconvenient driving to the private owner’s place especially if you are considering looking at eight different cars.  Basically that would be eight different places, time and appointments.

Beware though private owners who have a stable of used cars to sell may actually be a dealer.  Do not be afraid to ask if you could possibly see the title and registration.  Start to get suspicious if you see it is only a few days old.

 

Car Auctions

The last decade has seen the development of public auctions for vehicles.  Originally, auctions like these were reserved primarily for licensed car dealers.  Now, even individuals have the opportunity to bid aggressively for used cars.  The quality of these cars put up for auction, as well as the selections of vehicles, actually vary from one auction to another.  There are those auctions that specialize in late model vehicles while there are others which dedicate themselves to cheaper and less expensive vehicles.  The good thing about buying used cars from auctions is that you can conveniently compare prices and cars because they are shown side by side with each other.

Also, the prices that they offer are most likely lower than dealerships.  However, there is not much chance for you to thoroughly inspect the vehicle being auctioned off.  And since you are buying from an auction, it is therefore understood that all sales are final. Any car purchased is automatically yours.  Plus, the bidding frenzy could take a hold of anyone and there is a great possibility that you could pay way more than what a vehicle actually costs.

 

Tips about Financing when Car Shopping

Before purchasing your dream car whether new or used, try to assess if the budget can really afford it.

  • Questions like:
  • How will it be paid?
  • Who will be helping to pay for it?
  • What is the price limit of the car to be bought?
  • How long will it take to pay off the car?

These should be considered even while planning to buy the car. The trend nowadays is that people buy the cars by cashing out the down payment, and the balance will be paid by installment. Others are just lucky enough to have saved the right amount of money that they are able to cash out the total cost of the car, which, by the way, seldom happens anymore.  Never set aside the possibility of paying thousands of dollars when buying from a dealer or a specific car company, where in the end, they charge you more for the interest which takes years to pay off.

Once you have found a way to finance the car you have your eye on, then it’s time to start shopping around.  There are credit unions and even local banks that are willing to loan the needed amount to purchase the car with an Annual Percentage Rate of only 1.9 per cent.  However, this may turn out to be a catch, since this will only be happening on the first year.  Without prior notice, these interest rates can increase which is a total inconvenience for those with just a fixed income every year.

It is a big plus if a buyer is a member of a credit union.  Being a member could save you the trouble of spending a whole day in a lender’s office because the processing of the loan could only take just a few minutes after filling out the necessary papers for the request.  In a credit union, fifteen to twenty minutes is all that is needed to do the application. They could even loan up to $25,000.00 within just an hour after signing the papers.

It can save you quite a bit of money by researching prior to making that loan for a car.  Car dealers are really digging out most of the pennies in a buyer’s pocket by issuing interest that is sometimes unreasonable.  There are two things to consider when thinking of financing a new car:

 

First, what’s the price you are willing to be spend?  More often than not, asking yourself the question: How much of the car price do you intend to buy instead?  Only do so if you know you can afford the car of your choice.  Consider regular monthly expenditures.  The monthly payment for the new car should not get in the way of paying the fixed expenses.  If in case it does, by merely doing the math, then just consider an older car or one that may not be quite as “upscale.”  Just make sure that all is checked and examined to avoid hassle in the future.

Second, is it really important to change cars every two to four years?  Consider cars offered on a lease, if so.  Other dealers and car companies offer the leasing of a car for that amount of time, which you can return but no money will be refunded.  However, there is an allotted amount of distance or mileage that should be covered during those years of lease, but this is negotiable.  On the other hand, if a buyer is not interested in changing cars, it’s best not to opt for the cars for lease.

It is safest to get a loan from a credit union or a financial institution instead of a local car salesman; they will definitely try to squeeze your bottom dollar.  Get information from someone you can trust and is expert about financing a car, for they will be able to give you tips to benefit your own interests.  Financing either a new or a second hand car is a lot of sweat, but the determination to get the best car at the best price can be considered a success.

This should be a win, win situation for anyone.  After all it’s your money that is at stake here.  Do your research and it can be a beneficial decision on your part.

Easiest Qualification for Local Car Loans – 98% of all credit types accepted!!!

Look for low cost auto insurance!

 

Solid Advice for Credit Repair
It may be difficult to find information on the best ways to improve your credit. There is a wealth of different tips in this article to help you rebuild your journey to credit repair. Using these tips can save you from stressing and prevent headaches....
Free Cell Phones: Avoid The Trap
Cell phones are becoming very sophisticated with the advancement in the technology. Today the cell phones come with lot of mind-boggling kinds of features on them. Due to the increasing competition between the handset manufacturers and the service providers, lots of...
The World of Federal Grants
Welcome To The Wonderful World Of Federal Grants Federal Grants - If you are planning to go to college or university but know that you would never be able to afford it on your own, or with the help of your family for that matter, one of the first places...
Social Security Benefits & Retirement
Though all Americans look forward to the day when they can kick back in a lawn chair and spend time working in their flower gardens, retirement comes with many burdens. A fixed income or access to a 401(k) may not be enough to supplement the lifestyle many seniors are...
Best Way to Build Your Credit Rating
In today’s world, credit can be easily destroyed. If you are young and entering the adult world, you may not always understand how to maintain a great credit rating. Often, you do not qualify for a loan or credit card due to having no credit. Lapses in employment or...
Things You Need to Know About Section 8 Assistance
Things You Need to Know About Section 8 Housing Some families might find a safe, decent and affordable housing as a big challenge to tackle. Majority of regions in the United States do not have rent control laws in place. Therefore some renters find affording a...
Should You Consolidate Student Loans?
Should You Consolidate Student Loans? In order to make it through the years of school, students take on a lot of debt from various loans. Sometimes, these loans come from private lenders with higher interest rates and fewer protection. Most loans, however, are funded...
Budget Tips for Today’s Family
If you are in charge of creating the family budget, chances are, you’ve had the unfortunate experience of having a brilliant budget plan that isn’t executed well. This happens to many families and couples, and with a little attitude tweaking, you can solicit the help...
Public Assistance Study
 According to a new public assistance study conducted by the University of Illinois and the University of California-Berkeley, a overwhelming majority of fast food worker's families are enrolled in one or more public assistance programs. These programs...
Affordable Health Insurance
Is finding affordable health insurance as improbable as encountering a unicorn walking across your back lawn? It doesn't have to be. Here are seven steps you can take to lower your costs.   1. Understand your options to buying affordable health...
Unpaid Wages Recovery Guide
If you worked for it, then you should get all upaid wages. Everyday can be a struggle and still come up on the short end of the stick. That is why you may be frustrated when you are not paid the money you are owed. Fortunately, there are many steps that you can take...
How A Home Warranty Will Save You Money
A Home Warranty Will Save You Money Owning a home can be expensive. Appliances break down, and air conditioners tend to quit working in the middle of the summer. In fact, most home have a major mechanical breakdown twice each year. Usually, these breakdowns occur at...
Searching for Online and Freelance Employment
Searching for Online & Freelance Employment Many career fields and skills do not fall under traditional frameworks for employment. Writers, photographers, marketers, teachers and artists may be able to find work as online freelancers to continue improving their...
“Believe in The Power of 3”
The number 3 is the first number to which the meaning “All” was given. It is the number of the whole as it contains the beginning, a middle, and an end. When you raise the number 3 to a second power, it simply magnifies everything you already have and...
SNAP (Supplemental Nutrition Assistance Program)
The first nutrition assistance program was started in 1939. These types of programs were developed to help people during strenuous times and financial hardships. The program we know today (SNAP) was first introduced in 1961 as the Food Stamp Act that was...
How To Find Good Insurance Companies
 Insurance is a part of life whether you’re looking to protect your life, home, or automobile. All insurance companies are not equal. Working with a good insurance company is just as, if not more, important as having coverage. Here are four things to keep...
Save Money When Grocery Shopping
 It is a good idea to be aware of the amount of money that we spend on items when we go grocery shopping on a regular basis. When times are tough, it is this knowledge that can help us to survive on less income than usual, which can help in a big way if we...
Social Security Disability Benefits
Sometimes in life, events occur that prevent people from working in order to make a living. Accidents occur and illness strikes at the most inopportune moments. The Social Security Administration may be able to help. They provide disability benefits to...
How Does Renting to Own Really Work?
 In the years leading up to the financial crisis of 2007-08, the renting to own model — in which tenants/buyers have an option to purchase the house or condo they’re renting from their landlord/seller— was mostly offered by individual homeowners. In the...
How Do I Get FHA Refunds?
Although FHA refunds are for people who have FHA-insured mortgage loans, not everyone is entitled to a refund. Various factors are considered to determine who can receive a refund. FHA refunds are available for those who finance their homes within three...

The Premier Forex League

Subscribe

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email to Receive New Assistance Updates

Due to the overwhelming response, please enter your name and email to ensure proper results.

Thank You! You will now receive the latest assistance updates!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Pin It on Pinterest

Share This