Tips for Buying Your Teenager a Used Car

When your teenager reaches driving age and wants a car, you will probably have many decisions to make. Not only will you have to compromise with your teen when it comes to what you will pay for and what make and model is acceptable, you will also have to consider which used cars are the safest for him or her to drive. If you’re ready to buy your teen a car, we’re here to help with a few tips that might make the processes easier.

 

Think Simplicity

 

While your teenager probably has a make and model already in mind, you may want to make some boundaries clear before you start browsing used cars together. Not only will price be a factor, but it can be expensive to insure teen drivers as well. Their age and inexperience make them a considerable liability to many insurance companies, so choosing a no-frills vehicle may help you save money.

 

Do Your Homework

 

While we can help you choose a safe used car for your teen, it might also help if you perform some research on your own before you visit our lot. Take the time to discover which used cars have the best safety ratings, which ones have additional safety equipment that might keep your child safer and which are the least expensive to operate. The more you know before you begin to look at individual cars, the easier it might be to arrive at a decision.

 

Prepare Your Teen for Test Drives

 

Even if you will be doing much of the legwork and putting up the cash for your teen’s car, you may still want to prepare him or her for what will be involved with test driving vehicles. Teach them what to look and listen for and help them prepare a list of questions to ask our sales associate for during and after a test drive.

 

Buying your teenager his or her first used car doesn’t have to be a headache. Compromise, research and careful planning can all ensure a more enjoyable buying experience for you both.

6 Questions to Ask Used Car Dealers

The purchase of a used car is major monetary investment. There are risks involved, such as buying a vehicle with hidden flaws and mechanical issues. However, a potential disaster is avoidable when you ask dealers the right questions. With a little due diligence on your part, you’ll walk away with the right car for the best deal.

 

  1. Is This a Certified Pre-Owned Vehicle?

 

Certified used cars give you an added peace of mind. These vehicles undergo extensive inspections. Additionally, these autos are covered by a manufacturer’s warranty.

 

  1. Do You Accept Trade-Ins?

 

Trading in your current vehicle has two major benefits. One, you avoid the hassle of selling it yourself. Second, your car’s value is applied toward the used automobile, which lowers your payment.

 

  1. Is There a Discount for a Cash Purchase?

 

Buying your vehicle with money is a win-win situation. With a cash only deal you can buy the auto below the sticker price. In turn, the dealer gets a quick sale and money on the spot.

 

  1. Where Was the Car Purchased?

 

Dealerships acquire used cars from a variety sources. The common places include other dealers, rental car companies, customer trade-ins and auctions. Knowing where an automobile comes from gives you a complete picture of the vehicle’s maintenance and ownership history.

 

  1. Can My Mechanic Perform an Inspection?

 

Trustworthy dealers have no problem allowing your mechanic to look over the auto. Your repairman can spot existing problems as well as potential hazards.

 

  1. Have You Performed Maintenance Checks?

 

Used cars often sit on a dealer’s lot for weeks or months. In many cases, repairs and maintenance checks are conducted during that time. If there is any recent work done, it helps you cut the cost on future repairs.

 

Reputable dealers look forward to answering your questions. The more you know about a used auto, the better. Asking questions helps ensure your dream car doesn’t turn into a nightmare.

Alternative Financing Options for Used Cars

When you are looking at used cars, one thing to consider is how you are going to finance the one that you choose. Not everyone can get financing from a traditional vehicle finance company, so they have to explore alternative financing options for their next vehicle. Learning more about the options available will save you some time and hassle with it comes time to pay for your next car.

 

Peer-to-Peer Financing

 

This is a vehicle financing option that many people do not consider because they think it is only for things like college tuition or business startup costs. However, there are peer-to-peer websites that have options for personal loans to help with things like securing the necessary financing for a vehicle.

 

Credit Union Loans

 

If you belong to a credit union, you may be able to look into their vehicle financing options. Those who are members of credit unions and have an established relationship may find getting an auto loan from them is easier than getting a loan from a traditional finance company.

 

On-Site Financing

 

Our on-site financing options are typically more flexible compared to the options offered by traditional vehicle finance companies. This means that you may have an easier time securing the financing you need with terms that best fit your financial situation. We will tell you about the documentation we need to help you with your financing. In some cases, having a qualified cosigner can also be helpful, especially if your credit history is short or your score is subpar.

 

You can see that there are options if you either want to avoid or do not qualify for traditional vehicle financing. Talk to our salespeople to learn more about the financing options we offer those buying used cars. This will help you to determine if alternative financing is the best choice for you to secure your next vehicle.

Getting the Best Interest Rate on a Used Car

You’ve found the perfect used car for your needs and budget and are ready to hammer out the final details. If you won’t be buying the car outright, you’ll need to finance it, which means paying interest. To avoid paying more than necessary for used cars, you’ll want to keep your interest rate as low as possible, which you can easily do with a few good tips.

 

Think About Financing Through the Dealer

 

While you might think financing your car through a dealer is automatically more expensive, the truth of the matter is that doing so could net you a pretty solid deal. This is because dealerships can offer incentives like zero-percent financing and other specialized low rates. Check to see what’s on the table before you think about financing elsewhere.

 

Consider a Certified Pre-Owned Car

 

It seems counterintuitive, but older cars usually come with higher interest rates when compared to newer models. Instead of thinking you’re better off with a new model, consider the fact that dealerships sometimes have zero-percent interest specials on their certified pre-owned cars. Be sure to ask about them as you’re walking up and down the aisles checking out cars.

 

Consider Your Term Length

 

If it’s at all possible, get a car loan with the shortest term length possible. The reason for this is that a shorter term length equals a shorter repayment length, which means a lower amount of interest paid over the life of your loan. Another great thing about getting a term length as short as possible is that you don’t have to worry as much about being upside down on your loan, which is what happens when you owe more on your car than it’s worth.

 

As you can see, there are several things you can do to keep the interest rate low on your used car. Be sure to put these tips to good use.

4 of the Best Used Cars for Rough Winter Weather

When it comes to Canadian car owners, dependable all-weather performance is usually a top priority. You may not be able to afford the newest model, but there are plenty of excellent used vehicles available at a much more affordable price. One of the perks of buying used is that you have the benefit of hindsight. New cars might roll out of manufacturing with unseen issues, and even model-wide defects; pre-owned vehicles have not only been individually vetted, their entire model has already been driven and reviewed by both consumers and automotive experts. Here are four of the most highly recommended winter-friendly models to look for:

 

2006 – 2013 Toyota Corolla

 

The Corolla is probably one of the most reliable compact cars available, and you should be able to find a wide range of them for less than $10,000. For this price you get front-wheel drive, four-cylinder power, and an all-around great vehicle.

 

2007 – 2010 Suzuki SX4 AWD

 

If you are looking for something with a little more space, this Suzuki hatchback may be the right choice for you. This SUV handles well, has ample cabin space, good visibility, and is a very popular used car for those looking for a cost-conscious purchase.

 

2008-2011 Subaru Impreza

 

If you can afford at least $10,000, the Subaru Impreza is probably the best candidate in this list. In addition to AWD, available options might include heated seats, sunroofs, and even steering-wheel mounted audio controls in newer models.

 

2004 – 2010 Volvo XC90

 

Even used, this stylish SUV will probably cost between $15,000 and $20,000, but it also has quite a few attractive features, including: standard AWD, available V8 versions, heavy-duty handling capabilities, seating for seven people, and solid Swedish design.

 

Whatever type of pre-owned car you looking for, working with a certified dealer is crucial for protecting yourself against a poor purchase. Let our team help you get started on your search for the perfect “new” used vehicle today.

Four Advantages of Dealership Financing

Every car buyer wants to get the best financing rates possible. With banks, credit unions, and financing companies all competing for loan business, it can difficult to know what lender will provide the best loan terms. If you are searching for car loans, you might be surprised to find out that often the dealership offers the best option for automobile financing. Here are four advantages of getting a loan from the car dealership.

 

Financing Deals

 

Dealerships frequently offer promotional deals that other lending institutions don’t. If you can take advantage of one of these programs, you can save a tremendous amount over the life of your car loan. For example, a dealership might offer zero percent interest for the first year. That kind of deal can save you thousands of dollars.

 

Volume

 

Most dealerships sell many cars each year. Most of those cars require financing. Because they are in the business of selling financed cars, most dealerships now exactly the kind of loan terms they can offer and accept. This can help you get a better deal, even if you have shaky credit.

 

Refinancing Options

 

If you secure a car loan at the dealership and later decide that you can obtain better financing elsewhere, you have the option to refinance. That’s because dealerships do not bind you to sticking with their loan. Many buyers find this flexibility to be a major draw when purchasing a vehicle.

 

Convenience

 

Financing your vehicle at the dealership offers a tremendous amount of convenience for busy buyers. With separate financing, you might have to visit several lenders and complete many different applications. When you work with the dealer, you can take care of financing during the sales process.

 

When shopping for car loans, every buyer wants to get the best loan terms possible. Financing at the dealership offers many benefits for most buyers.

Purchasing a Car Despite Bad Credita

Purchasing a new car can be extremely thrilling! It also forces you to evaluate your financial situation and figure out how much you are able to spend. Most likely, you will need to take out a loan to pay for your car because it is a huge expense. Even if you have bad credit, you can still obtain a loan. Additionally, if you are not in a time crunch there are ways to improve your credit and increase your chances of being offered lower interest rates.

 

Steps to Take to Improve Your Credit

 

There are a few things to do if you have time before you’re planning on purchasing a used car. The first step is to eliminate credit card balances including any nuisance balances, which are the small balances on your credit cards. Additionally, keep in mind that leaving old deb on your credit report is not bad as long as you have eventually paid them. They are a sign that you do have a solid repayment record. Also, each time you apply for credit your credit score goes slightly down making it crucial to be careful how many times you apply for credit.

 

Obtaining a Car Loan with Bad Credit

 

Despite your credit score, you still have a chance to obtain the necessary funds to purchase a used car! Often times, banks are more lenient with car loans as opposed to home loans because they are far less expensive. Finding the right deal and lender who is willing to work with your specific financial situation also advantageous and worth your time. One trick to use when asking for credit is to bring a friend to share their insights on deals being offered to you and even provide advice. Finding someone you are comfortable enough to share financial information with is vital.

 

Despite bad credit, it is possible to get a bad credit car loan! Whether or not you have time to improve your credit score, there are a few things you can do to improve your chances of purchasing the car of your dreams.

3 Things to Think About When Shopping for Used Cars

With the variety of vehicles manufactured, it can be difficult to decide which car is best for you. It can be even more trying when you’re looking at used cars that already have significant mileage on them. When you’re shopping around the used car lot, there are quite a few things to consider. Here are three that you should definitely give some thought to.

1. Excessive Use

This is something you’ll check almost immediately, but the number of kilometers isn’t the only thing that’s important. When a newer car has already done a lot of traveling, that means it was driven far and frequently right after being purchased. On the other hand, an older car with the same odometer reading might not have been pressed as hard by its previous owner. All of this should factor in to the questions you ask the dealer regarding the vehicle’s past use and what repairs have since been done.

2. Recurring Problems

When you get a history report of a car’s maintenance, some of the information will shed light on issues the vehicle had in the past. Some people turn in their used cars because they keep having the same problems and continually have to pay for repairs. That could signify an issue with the car, but it might have more to do with the previous driver. Make sure to clarify these points.

3. Safety Standards

Depending on the year a car was made, it might not have the same safety measures that you’re used to. Most cars won’t be so old as to be unsafe, but it’s worth asking the car dealer for his or her thoughts on safety issues.

Used cars still require owners to make a big investment, so it’s important that you take everything into account before making a purchase. As long as you know what to look for and which questions to ask, you should end up with a good vehicle.

Buying a Car With Bad Credit: What You Need to Know

Buying a car with bad credit isn’t impossible. In fact, with bad credit car loans, it’s more than possible. If you’re interested in purchasing a new car, but your credit has seen better days, here are a few things you need to know about securing financing for your vehicle.

Start Prepping Early

When it comes to getting a car loan with bad credit, you have to start prepping for the process early on. This means that you should determine what your budget is, gather income-related documents, and research what kind of car you want to buy before you start the financing process. This will help you find the car you need in your desired timeframe without too much delay.

Take Steps to Improve Your Credit

Just because you have bad credit doesn’t mean you can’t start taking steps to improve it. Try setting up automated payments for your bills, making sure there aren’t discrepancies on your credit report, and doing what you can to reduce your debt. Even if you start doing things a few weeks before you apply for a loan, you might notice a difference in the type of rate you get.

Stay Within Your Budget

When you’re buying a car on bad credit, is extremely important to stay within your budget. Make sure that when you’re figuring out how much you can spend, you take into account other costs like insurance, gas, maintenance, and oil changes. This will ensure that you’re prepared to manage the expense of your new car once you start driving it around town.

The most important thing you need to remember as you get ready to apply for a car loan is that your bad credit shouldn’t hold you back. As long as you’re smart about things and prepared to take this financial decision, you should be able to purchase a new vehicle successfully.

Common Myths About Poor Credit and Car Loans

 

If you have poor credit, then you may believe that buying a quality used car is beyond your means. However, you may have more options than you know. From bad credit car loans to finding permissive lenders, we want to show you how a few common myths about having poor credit may be keeping you from taking the first steps to owning a pre-owned vehicle.

 

Bad Credit is Forever

 

If you have charge offs or a past bankruptcy on your credit report, you may think that your credit is ruined forever and that no lender will ever see you as an acceptable risk, even if they offer bad credit car loans. However, even very poor credit can be improved by paying your bills on time and avoiding credit inquiries, which can lower your score. With a little work over the course of a year or so, you can improve even the lowest of scores.

 

You Are Not in Control of What You Will Pay

 

This is a common myth that might be causing you to put off looking for a used car. While the thought of being victimized by a lender because you are a bad credit risk can be frightening, there is less of a risk if you are an informed, flexible shopper. Get a copy of your credit score, know what it says, and be open to a variety of makes and models in order to have more than one loan option open to you.

 

Low Monthly Payments Are More Important Than Loan Terms

 

When browsing bad credit car loans, you may believe that lower monthly payments are the most important factor. However, this myth may push you into a longer, costlier loan. Consider the length of the loan as well as the payment amounts to see the bigger picture.

 

We hope busting these car loan myths help you become a more informed shopper. While a poor credit score may limit your options to a degree, a better understanding of the facts may lead to an affordable deal.