Reasons You Should Buy Used Cars

Even if you have the financing to purchase your next car brand new, you should consider buying used instead. Used cars offer several benefits over new vehicles.

Pricing Is Better

This one is obvious, but also one of the most important benefits. Even if you do have the financing for a new car, why spend the money if you don’t have to? Purchasing a used vehicle can save you thousands of dollars. In many cases, you can find used cars that don’t have any flaws, especially if you choose to go the route of buying a certified pre-owned vehicle.

You Have More Variety

When you go to a new car dealership, you won’t have as much variety to choose from because you’ll only see the most current models. Newer doesn’t always mean better. Sometimes vehicles undergo redesigns that remove desirable features. When you choose to go to a dealership for used cars instead, you’ll have the option of choosing from a wider variety of makes and models, which could include finding something with a great feature you can’t find in a new car.

Slower Depreciation

When you purchase a new car, it loses much of its value as soon as you drive it off the lot. Who wants to spend a thousand bucks just to pull into traffic, right? When you purchase from a used car dealership, you don’t need to worry about the depreciation rate. Used vehicles lose value at a much slower rate. In many cases, you will be able to get most of what you paid back for it should you choose to sell. You won’t be able to do that if you sell a car you purchased new.

If you do decide to purchase a used vehicle, do so from a reputable dealership like ours and aim to find something certified. Always test drive and look at a car’s history before handing over your money.

How to Buy a Car With Bad Credit

If you have bad credit, you know the pain of trying to purchase just about anything of significant value. A new home? It’s not in the cards right now. A fun vacation? Maybe next year. A new car? Not in your wildest dreams. Or is it? With the growing number of bad credit car loans being issued today, people with bad credit and no credit have a fighting chance of hearing those magical words: “You’re approved.” However, in order to hear those magical words, you have to shop smart, be patient and follow these words of wisdom:

Improve Your Credit

Though this post is meant to help people with bad credit, you shouldn’t forego your credit entirely. If you want to get the best rates your score will allow and terms that are reasonable and affordable, take measures to improve your credit. If you can, hold off on buying a vehicle for at least six months. In that time period, pay off whatever credit cards you do have. Get a secured credit card if you don’t have any cards in your name and cannot get approved for a “real” one. Put small purchases on your card and pay them off right away. You’ll be surprised by how much your credit improves just by doing this one thing.

Consider Preapproval

Companies like Capital One offer preapproved auto loans to people with subpar credit. If your credit isn’t terrible and if you have verifiable income, you may be able to get preapproved for a loan within a matter of minutes.

Find a Dealer Who Will Work With You

Some dealerships don’t have time for people with bad credit; avoid those guys. Look for a dealership that is willing to put in the time and work to find you an auto loan with terms and rates you can afford. Though it may take days, the right dealership won’t stop looking for a loan for you until they’ve found one.

Bad credit car loans are not as rare as you might think. If you have bad credit or no credit, use the tips above to drive away in your new car as soon as today!

Three Categories of Car Bargains

Our dealership offers a large number of solid deals on used cars. We stock a variety of vehicles on our lots that are ready to be driven off and provide years of exciting and economical transportation. A good way to look at our inventory is to break it down into three broad categories.

 

  1. There’s no surprise that buying a used car is a great way to maximize your dollars. You can take it even further by looking for a car that provides great value above and beyond the purchase price. Often this means looking at smaller cars such as sedans that get great gas mileage, are reliable and have low maintenance costs. The savings you get from lower insurance costs, decreased taxes and registration fees, and more, are a great way to create a little breathing room in your budget.

 

  1. This level of vehicle can include crossovers, SUVS, minivans and trucks. For a moderate price, you can find an attractive vehicle from our lot that has a medium-level of miles on the odometer. This route gives you the opportunity to get the vehicle you desire and will only increase your monthly payments a little bit. You will still reap the savings associated with buying used, and you will still get a great car at an affordable price.

 

  1. If you are looking for used cars with super low miles, we carry a good selection on our lots. You can also find high-performance vehicles, as well as luxury models that offer smooth rides, spacious interiors and the latest technology. You will pay more for a fully-loaded vehicle, but you will get to enjoy all the perks of an exceptional ride.

 

No matter what you decide, our customer service department will work with you to ensure your happiness. We offer financing, service and a friendly environment to do business in.

What You Should Know About Leasing a Car

If you’re in the market for a new car, then you may be considering the option of leasing the vehicle. This can be a way for you to enjoy the benefits of a brand new car while being able to afford the monthly payments. Here are the basic things you should know about car leasing. Keep these in mind the next time you are in the middle of searching for a new car.

 

First of all, it is important to know what a car lease actually is. It is often depicted as a long-term car rental. Generally, you will make monthly payments for a certain time period and then when you reach the end of the lease, you have the option to purchase the car or turn it back in.

 

There are certain restrictions with leasing a car. So you should be sure to read all of the fine print before you sign a lease. For instance, since you don’t technically own the car you may have to pay for any kind of damages that occur to the vehicle during the lease.

 

Before you begin looking for leasing offers, you should have an idea of what your personal credit score is. You can usually access your credit score from any of the major credit bureaus.

 

The leasing specials you often see at dealerships are for customers who have excellent credit scores. If you have a lower credit score, then you can still qualify in some cases for a leasing offer it may just require you to put down more money upfront in the form of a down payment.

 

As you can see, there are some important points to consider before you decide to accept a car leasing offer. You should make sure that you can afford the vehicle you are interested in leasing. It also helps if you can put down more money upfront as this will lessen your monthly payments.

Forget About Your Bad Credit and Apply for That Car Loan

In this line of work, I often see people talk themselves out of owning a car even before they set foot on the lot of our dealership. They look at their poor credit score and automatically discount their ability to qualify for financing, and thus a car. Bad credit car loans are not a thing of myth and whimsy, they exist, and our lending specialists are experts in the subject. Fear not for bad credit be damned, there is always a way to cleverly finance your next vehicle and get you driving as soon as tomorrow.

 

One method the lenders at our dealership have mentioned as a good way gain approval for a car loan is to have a cosigner sing off on the loan. A cosigner is someone with good credit that can put their name on a loan in addition to the primary borrower. If the primary borrower has poor credit the addition of a cosigner can often negate this in the eyes of the lender, and a loan that would otherwise be denied can be approved. The cosigner will also be liable to pay for the loan, and in the even of default, their credit will be subject to lowering because of their involvement in the loan.

 

Utilize the above method to put aside worries about financing when shopping for a new car at our dealership. Rest easy as our staff guides you through the lot and numerous cars we have to offer. It really gets our motor running when we can help a fellow Canadian into a vehicle that truly makes them happy. Getting a loan at our place of business is a breeze, and with the addition of a cosigner, anyone can be approved and drive away that day in a wonderful vehicle from our vast selection. Bad credit car loans or good credit car loans, it doesn’t matter. All that matters are the happiness and satisfaction of our customers.

Where To Find Bad Credit Car Loans

There are several places where you can get a car loan, regardless of your credit, and some will be better than others. For instance, if you come down to the dealership and sit down with one of our loan officers, then you can get the loan and the car that you want at the same time. Two things you want to look for in a lender is the loan availability and their reputation.

 

Loan Availability

 

Not every dealership, or other lender, can offer you a car loan if you have no or bad credit. This is why it is a good idea to check out our requirements and loan offerings before you start shopping for a vehicle. This can help keep you from finding the right car or truck for your needs and then not being able to purchase it. It can also help keep you from unfavorable terms because we can sit down with you and determine which available loan is the best for your needs.

 

Lender Reputation

 

The reputation of your lender can be important because it reflects the terms you are likely to get. When you get a loan from us, it is a good idea to ask any questions that you may have about the loan to ensure that you understand what is required of you, and of us, in the contract. This can help you get a better bang for your buck.

 

Finding bad credit car loans can be easier than you might think. We can help you find the car that you want for the financing options which will work the best for your needs. To find the best loans, you will need to come to the best dealership and talk to our loan officers. These talented people can help you find the right options for your financial situation and help get you into a new car at the same time.

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

If you need a new vehicle but have bad credit or no credit, you need to approach the car buying process a bit differently than how someone with good credit would approach it. If you want to drive away in a new vehicle without signing on for a loan with outrageous rates and impossible to meet terms, there are a few things you need to know about car shopping with bad credit, such as the following:

 

Know Where to Shop

 

Many dealerships that offer bad credit car loans are buy here, pay here car lots. These lots offer on-site financing which, though appealing at first, actually result in huge headaches and lost money. These lots have a reputation for selling overpriced, low quality vehicles, and of giving out loans with impossible terms and rates. In the end, they end up with their vehicles back, and victims of the scam end up with worse credit and still no car.

 

A Little Improvement Goes a Long Ways

 

If you have time to shop for a vehicle, take steps to improve your credit while you’re looking. The more timely payments you make, the more your score will improve. Pay off all overdue accounts, and if possible, pay off a few accounts in their entirety. By doing this for just a few months, you may increase your score significantly and no longer even need to worry about bad credit weighing you down.

 

Big Down Payments Help

 

Again, if you have the time to do so, save a bit of money before you go car shopping. With a bigger down payment, you won’t need to borrow as much, which means lower monthly payments, a shorter term and possibly better rates.

 

Shopping for a vehicle with bad credit may be difficult, but it’s not impossible. By knowing where to shop, improving your credit score as much as possible prior to going shopping and putting down a big down payment, you can save yourself time, hassle and money on your new vehicle.

When Car Leasing Can Be a Great Choice

While many people opt to buy a car instead of leasing it, car leasing can make sense in certain situations. Here are three situations when leasing a car can be a great choice.

 

You Love to Drive Different Cars

 

If you want to drive the newest and latest cars every few years, then leasing is a great option. You always get late models which usually don’t require extensive repairs. On top of that, instead of having to try to sell your car when it’s time for a new vehicle, you just trade it in for your next lease. Since you won’t ever have to sell your car, depreciation is of no concern to you. Furthermore, leasing allows you to choose first-generation vehicles that may come with some issues from the factory.

 

You Can’t Get a Car Loan

 

Unfortunately, some people struggle with bad credit scores and are simply not able to secure a low interest rate. This could mean high monthly payments that some just can’t afford. Or you’re only looking for a business vehicle but can’t bring a down payment to the table, or your need for an extra business vehicle is only temporary. Monthly lease payments are sometimes lower than actual loan payments. You could use the money you save every month for a down payment on a future car purchase.

 

You Don’t Use Your Car Often

 

Most car leasing agreements come with certain restrictions. You are only allowed to drive the vehicle for a specified, agreed-upon amount of mileage each year. If you don’t drive your car often, leasing a car can be more feasible than purchasing one. Additionally, if you are being relocated for your job to a remote location for only one or two years, you can just lease a vehicle and save yourself the hassle of a car purchase and car sale.   

 

These are three situations when it can make more sense to lease a vehicle. If you’re ever wondering to lease or not to lease, take a close look at your very own situation and take all variables into account.

Buying a Used Vehicle with Poor Credit: The Basics

There are many reasons why you might find yourself dealing with a poor credit rating. Illness, the loss of a job or other unexpected events may cause a serious drop in your credit score, which can make it difficult to get financing for a used car. However, there are ways you can secure bad credit car loans, and we’d like to give you a few tips for getting started and what to expect.

 

Understanding Poor Credit Car Financing

 

Before you seek out non-traditional car loans due to your poor credit, it’s wise to understand how these loans differ from one you might receive from a bank or large financing company. Bad credit car loans are usually offered by used car dealerships and have a variety of interest rates. These rates might be higher than ones offered to those with better credit, but you can always compare what different dealerships offer you before you decide.

 

What to Expect at the Dealership

 

When you visit a dealership that offers bad credit car loans, you can expect loan officers to work closely with you to understand exactly what you can afford. They may pull your credit report, but not all lenders judge your ability to pay simply by that number. If you have steady employment and are working to repair your credit, that may be enough to secure a loan.

 

Loan Terms

 

If you have poor credit, you may be offered a long-term loan that can help lower the cost of monthly payments. The length of the loan may vary with dealerships, but some can extend up to five years. If you accept one of these loans, make sure you tell the loan officer exactly what you can afford in terms of payments and whether you will have the option to refinance in the future, if your credit permits.

 

Having poor credit can make it difficult to secure a used car loan. However, when you understand the basics of bad credit car loans and how they can benefit you, the road to financial growth may be easier to navigate.

How to Get Your Finances in Order Before Securing an Auto Loan

The decision to buy a new vehicle is a big and exciting one, and not one that many people come to lightly. There is a lot that goes into coming to that point, including landing a good-paying and secure job, being relatively debt free and having a decent credit score. That said, if you’re thinking about securing a car loan, there are a few steps you should take first.

 

Set a Realistic Budget

 

Just because you can finally afford a new car does not mean that you should be careless with your budget—even if your credit score says that you can afford that really nice Maserati parked in the lot. A new car is a luxury, and as with all luxuries, you should only plan to pay what you realistically can afford. Add up all of your monthly and annual expenses and subtract the total from your net income. Leave wiggle room for savings and emergencies. What you’re left with is what you can afford to pay.

 

Boost Your Credit Score

 

The higher your credit score is, the better, as that means the less you will have to pay in interest over the term of your loan. Whether your credit score is so bad that you’re only able to secure bad credit car loans or it’s so outstanding that the dealerships are begging you to buy from them, do what you can to improve it until shopping day. Even a ten-point boost can lower your rates by a few percentages.

 

Look Into Trade-In Values

 

If you own a vehicle already, don’t just let it sit and decay after you buy a new one. Rather, see if the dealership you plan to work with will do a trade-in. Even if your old car is only worth a couple grand, that couple grand will serve as a nice down payment—and a considerable down payment can help to make you look more reliable in the lender’s eyes.

 

The decision to buy a new vehicle is huge, so if you’re at that point in your life, congratulations! That said, don’t approach the process lightly, and get your finances in order before you start shopping.