USED CAR FINANCING TIPS
Used Car Financing Tips
Looking for your next vehicle is an exciting thing, and it can be a lot less expensive when you go the used car route. Buying a used car can save you a lot more money than buying new, especially when you play your cards right. Interest rates for a financing plan can sometimes be higher than what you would pay to finance a used car, so it's best to be well-informed about your options and how to proceed. Check out this list of helpful tips provided by the team at Berglund Used Car Super Center before stopping by our dealership.
5 Tips for Financing a Used Vehicle
Before you visit us, be sure to take into account these five helpful tips:
- Check Your Credit Score: Whether you're buying new or used, you need to know what your credit score is. Checking it periodically can let you know if it needs improvement, and a higher credit score helps keep the interest rate on a car loan low. Ways to improve it are paying your bills on time and keeping your credit card balance as low as possible.
- Know Your Budget: Even though you've decided to purchase a used car, you want to make sure you don't bite off more than you can chew. Finding a car within your budget is one of the most important steps you can take during your car-buying journey. We would recommend that your monthly payments not be more than 10 percent of your monthly take-home pay. This figure includes maintenance, gas, and other expenditures that come with owning a car.
- Check the Vehicle History: You don't want to be in the middle of completing car payments just to find out there's a hidden problem or damage to your vehicle. A vehicle history report can indicate whether the vehicle has been in a crash or has other damage, but it's always best to get more than one report in case some information is missed.
- The Bigger Down Payment, the Better: A key component to keeping your monthly payments low is by providing a hefty down payment. As much as you can comfortably afford is recommended. A large down payment right off the bat can save you hundreds of dollars per month.
- Take It For A Test Drive: Don't buy until you try. A test drive is the ultimate deciding factor, as it lets you know whether you're comfortable behind the wheel. Test drives will allow you to test out features, check out the powertrain, and decide if it's the right fit overall.
Find Your Used Vehicle at Berglund Used Car Super Center
Are you ready to begin your used car buying journey? At Berglund Used Car Super Center, we understand that a car is a large investment, which is why we supply our community with top-notch used vehicles of all makes and models, from Toyota to Chevrolet. Take a look at our online inventory to catch a glimpse of what we have to offer.
We look forward to assisting you.
