Car Shopping and Ways To Pay for It

by Oct 13, 2017Cars 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!

 

5 Ways to Keep Your House During A Market Crash
Anyone paying attention to the housing market in the Los Angeles area knows that home prices have been at record highs. National Mortgage News suggests that this could be a housing bubble about to burst, and a decline in home prices and an increase in mortgage...
Find The Best Section 8 Homes & Rentals
Find The Best Section 8 Homes & Rentals Are you feeling a little frustrated searching for Section 8 homes and rental property? Below is a list of multiple Section 8 housing resources. These are not in any particular order. These are just eight very good resources...
Lifeline Assistance Program
 There is now a program out there that can even help with your cell phone. The special government program called Lifeline Assistance that offers a free phone and minutes to those who qualify. Getting on the list is not very hard, but there are a few things...
You Can Save Money on Your Monthly Bills By Reading These Tips
When you add up the total cost of your monthly utility bills, you may be astounded by how expensive utilities can be. This may be particularly true during peak usage months in the height of summer and in the dead of winter. You and your family...
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...
Health Insurance Coverage Changes | ACHA
Healthcare reform tends to be tricky and complex as it attempts to find a common ground that is beneficial for all people. Burdened by the political firestorms that surround it, the new healthcare bill approved by the House of Representatives will...
Best Credit Cards for Questionable Credit
Life does not always work out as planned. Sometimes, a gap in employment leads to a few missed payments, and eviction, or a repossessed vehicle. These things happen to most people. In order build credit back up, a credit card may help. Making regular...
The Best Self Help Gurus
In the world today, it is easy to come across scammers looking to take advantage of people in their weakest moments. The realm of self-help is no different. In fact, it can be much worse. Self-help scammers apply abstract concepts so that unsuspecting people will fork...
Government Grants Exposed
You and I have heard it all before, the man with the funny jacket on late night TV telling us that the United States government gives out over 30 Billion dollars in grants every year. And if we want any of that for ourselves, all we have to do is send him...
Should You Consolidate Student Loans?
Healthcare reform tends to be tricky and complex as it attempts to find a common ground that is beneficial for all people. Burdened by the political firestorms that surround it, the new healthcare bill approved by the House of Representatives will...
Best Advice for Seeking Employment
You and I have heard it all before, the man with the funny jacket on late night TV telling us that the United States government gives out over 30 Billion dollars in grants every year. And if we want any of that for ourselves, all we have to do is send him...
The Most Common Reasons for Debt
When you add up the total cost of your monthly utility bills, you may be astounded by how expensive utilities can be. This may be particularly true during peak usage months in the height of summer and in the dead of winter. You and your family...
How The New Budget will Impact SNAP
 High debt balances can create significant stress, negatively impact not only your future, but it can also impact your health. It can prevent you from enjoying the quality of life that you otherwise may enjoy without the burden of debt payments. While...
How To Find Good Insurance Companies
When you add up the total cost of your monthly utility bills, you may be astounded by how expensive utilities can be. This may be particularly true during peak usage months in the height of summer and in the dead of winter. You and your family...
The Facts You Need to Know About Payday Cash Advances
How The New Budget will Impact SNAP  The Supplemental Nutrition Assistance Program (SNAP) assists lower-income families to purchase food in order to prevent hunger. The program also provides economic benefits to communities. The proposed budget for 2018...
Walmart Owes Money
 High debt balances can create significant stress, negatively impact not only your future, but it can also impact your health. It can prevent you from enjoying the quality of life that you otherwise may enjoy without the burden of debt payments. While...
5 Strategies to Save Money on a Shoestring Budget
You and I have heard it all before, the man with the funny jacket on late night TV telling us that the United States government gives out over 30 Billion dollars in grants every year. And if we want any of that for ourselves, all we have to do is send him...
Public Assistance Study
 If you are one of the many people who live on a tight budget, you may feel the stress of your situation on a daily basis. Even a seemingly small issue that arises and has reasonable expenses can throw your budget off track. Reducing your costs is a great...
How to Manage Credit Card Payments
 If you are one of the many people who live on a tight budget, you may feel the stress of your situation on a daily basis. Even a seemingly small issue that arises and has reasonable expenses can throw your budget off track. Reducing your costs is a great...
4 Most Challenging Discussions You Can Have With Family (And How To Have Them)
 If you are one of the many people who live on a tight budget, you may feel the stress of your situation on a daily basis. Even a seemingly small issue that arises and has reasonable expenses can throw your budget off track. Reducing your costs is a great...

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 Name and Email for Best Results

Due to the overwhelming response, enter your email for best results. Look for your free ebooks from New Flex Career!

You Are On Your Way!

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 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

The More You Share. The More We Can Help!

Share these posts & pages with friends!