Car News Articles 
 Alternative Fuel Vehicles
 Automotive Articles
 Car Buying Tips
 Car Financing (29)
  Car Warranty (5)
 Car Insurance Articles
 Car Maintenance
 Car News
 Car Racing
 Car Repair
 Car Safety
 
 Driving Economically
 Environmental Issues
 Exterior Car Care
 Garage Know How
 
 How Car Stuff Works
 Motorcycle Articles
 Road Trips
 Traveling with Kids
 Younger - Older Drivers
 
 Amsoil Synthetic Oil
 Article Archives




spacer
spacer
Car Buying Tips >> Car Financing



Shopping for a Used Car Loan

When it comes to a used car loan, there are quite a number of concerns. You may asked yourself, “How can I sell my used car to a private party if I don't have title?" or "How do you finance a car from a private person?" as well as many other questions.

Many people ask how they could have a used car financed. Do your research first, searching a popular site like Google for "used car loan calculator" will help you price out your car loan and see your payment schedule. In addition, you can compare your loan interest rates with different banks and lenders to find the best deals. Remember they do this everyday; you need to do some research before applying for that used loan. When applying online it will only take minutes. And it’s to your advantage to use a company like Lending Tree or similar company that will process your request then have lenders contact you running 1 Credit check, but sending you multiple offers or you could try a company like Capital One. After you receive a mailed check from the online loan company, you can choose to buy a used car from a private owner with very little hassle.

Some companies offer used car loans for buying from car dealers as well. You can apply online and you can get approved in an hour.

Here are some useful tips when surfing the net for a used car loan:

1. To qualify for a used car loan, make sure to keep your credit score to at least 680. People with bad credit pay higher car loan interest rates. A used car loan wouldn't be any different. Get hold of your credit report online. Never apply for a car loan, much less for a used car loan unless you get your credit report with credit scores first. Depending on other factors, a high quality lender like some finance companies or banks do, can approve used car loans for people with scores as low as 540.

2. Never pay cash for a deposit on a car. You can dispute purchases made with your credit cards or bank checks, but it’s impossible to fight cash without a receipt. But without proof of the transaction, you can be taken advantaged of by swindlers.

3. Shop for auto insurance costs on the used car you are looking to purchase to make sure your insurance rates will remain the same, because in most cases you will be required to get full car coverage during the terms of the loan period. Auto insurance sites give free online car insurance quotes.

4. Get an extended warranty for your used car from a reputably dealer because extended warranty companies make their money from not having to pay for your car repairs. And in most every case will fight you on the repair issue. If the cost of this warranty is over $500 you may consider not getting the warranty and just keeping a credit card for car repair emergencies. You will save $500 up front and in most cases you won't need the warranty anyway, and in other cases you'll have to pay for the repair first then file papers for your warranty money.

So before deciding on a used car loan you better ask yourself these questions:

What are the drawbacks of a used car?
What are the benefits of a used car?

Think twice: A used car could have a listed maintenance and repair history. And most do not.

Used car warranties often are available at extra cost. And do carry some extra risks.

The maintenance costs get higher as the miles on the vehicle climb toward 100,000. Making sure the oil was changed at the 3,000 mile mark is important when your car starts to age.

There are not as many safety and convenience features as newer vehicles have.

A used car, however, will be significantly cheaper to buy than going with a new model. And if you purchase comprehensive and theft insurance your costs are likely to be less.

After weighing the pros and cons, you can decide if a used car loan is for you.







Related Articles:
Getting a Good Deal On A Bad Credit Auto Loan
Would I Qualify For A Bankruptcy Auto Loan?
Auto Refinancing Puts Gas Money in Your Pocket
Financing Your Next New Car
Shopping for a Used Car Loan
Clean Up Your Credit For A Better Auto Loan Rate
Refinancing Your Car Loan
Refinance Car Loan
Car Finance Loan: When You Can't Just Wait to Buy a Car
Three Steps to Saving Money on New Car Financing
Using An Online Car Loan Company
You Can Get An Auto Loan Without A Credit Check
Looking For A Great Auto Loan Rate
Save Money By Refinancing Your Auto Loan
There is A Car Loan Out There Just For You

spacer
sdg
make image
model image
zip code


Stay Updated!


Car Financing
Related Articles
Spring Car Shopping? Take Care
Car Credit And Financing Facts
Before Applying For Auto or
Car Financing Tips To Know
Car Loan Calculators
Getting a Good Deal On
Would I Qualify For A
Auto Refinancing Puts Gas Money
Financing Your Next New Car
Shopping for a Used Car
Clean Up Your Credit For
Refinancing Your Car Loan
Refinance Car Loan
Car Finance Loan: When You
Three Steps to Saving Money
Using An Online Car Loan
You Can Get An Auto
Looking For A Great Auto
Save Money By Refinancing Your
There is A Car Loan
spacer

Feed Button



Car Insurance Info | Newsletter | Car Classifieds | Online Car Rentals
Auto Pictures | Link To Carjunky.com



Complete List of Article RSS News Feeds


Copyright © 1999 - . CarJunky® All Rights Reserved.