The debate betweeen buying a used car vs new car can be daunting. With a complete picture of the key factors to consider, you can make a more confident purchase decision. Here is a look at the benefits and drawbacks of each. Spoiler alert: There is no clear winner in the used car vs new car.
Price of used car vs new car
Used — Traditionally, price has been the biggest advantage in the used car vs new car corner.
New — The sticker price on a new vehicle will always be higher than its used equivalent.
Used — A used car may have a lower purchase price, but it could come with a higher interest rate. Used car dealers and financial institutions typically don’t offer the next-to-nothing annual percentage rates that you can get with a new car loan. For example, if you finance $20,000 at 4% APR for 60 months, you’d pay nearly $2,100 [...]
Buy Here Pay Here (BHPH) car lots distinguish themselves from other used car lots because BHPH dealerships offer on-site financing.
If you have bad credit, no credit, or in bankruptcy, you may find BHPH dealerships to be your best option. Even if you have good credit or don’t need financing, BHPH dealerships offer great deals on certified pre-owned vehicles.
While “buy here pay here” financing may be your only way to obtain a vehicle of your own. Make sure you do your due diligence and make an educated decision beforehand.
Buy Here Pay Here lots have to abide by stricter laws since they are also effectively a finance company. Any BHPH lot that does not follow state and federal rules and regulations will not be in business for very long.
For example, all BHPH dealerships will have to follow the Truth in Lending Act (TILA). This requires the dealer/financier to disclose the [...]
There are a lot of different places you can go when buying a pre-owned car in Seattle. One of the decisions you may be struggling with is whether you should buy your car from a private seller or a used car dealership. There are pros and cons to each option. We’re explaining them to you, so you can make the choice that’s best for you!
Pros and cons of buying a pre-owned car in Seattle privately
Some people prefer to buy their car from a private seller. Although we don’t suggest going this route, it does have some advantages.
You may get a lower price: One possible advantage of buying a used vehicle from a private seller is that you may be able to get a lower price. This is because you won’t have to pay dealer fees and other fees associated with used car dealerships.
Easy price negotiations: You may also have the [...]
If you have ever purchased a used car from an individual in Seattle, then you may be familiar with private party auto loans. Private party auto loans are loans made by banks, or lenders, which allow you to purchase a used car from an individual. Usually, applying for a private party auto loan is no different.
Used Car Auto Loans
One of the quickest and easiest ways is to apply for private party auto loan is to do so online. There are many websites that give you the ability to apply for any type of auto loan. This portion of the process takes about 24 hours.
Once the requirements clear, arrangements will be made to receive the check. A check can take up to 5 days to arrive, but most banks will offer it to you within a day or two.
Getting the Best Rates
If you have excellent credit, then the bank will be able [...]
A bad credit auto loan is one of the many types of loans that typically don’t require people to go into a bank. Instead simply have to fill out a few forms on the Internet. Unfortunately, this means that loan scammers can easily take advantage of people who are trying to find a car loan. These auto credit loan scams are very easy to implement. It’s crucial that you always check the Better Business Bureau and other agencies before you give up your personal information. Here are some common bad credit auto loan scams that you need to look out for.
Auto Credit Loan Scams Using a Co-Signer
People who have no credit at all or bad credit may require a cosigner in order to obtain a legitimate car loan at their bank. However, some scamming auto loan lenders will tempt you to find a cosigner. You may think that finding a cosigner will aid you [...]
You’ve done the research, and you found the perfect car! Now it’s time to buy it. For most people, they are excited about getting behind the wheel but forget they need to pay for it. That is where car loans come in.
The Basics of Car Loans
A car loan is an agreement you make with a bank or other financial identity that with them buying your car for you, you will pay them back. While interest rates are very low, there still is a profit margin for this establishment to give you the money upfront. This is a very smart way to go about purchasing a vehicle because it gives you the flexibility to pay back as you can. Northwest Auto Loan will work with you, regardless if you have bad credit, no credit, or great credit! We are a buy here pay here shop looking to help all of our customers!
Buying a car can be a huge ordeal. From finding a car that you are in love with, to financing, and many other aspects. You want to go somewhere that you can get the best deal but you also want excellent customer service. Limiting yourself to one or the other can be tasking. Head on over to Northwest Auto Loan in the Tacoma, Washington area instead. We can be the difference in your car buying experience!
Northwest Auto Loan in Tacoma
Visiting one of their locations or going online, you can find a huge selection of cars to choose from. Even better? If they don’t have the exact car that suits your needs, they can help you find it. Using their resources, they will be able to find the car that is exactly what you are looking for in the price range that you need it to be in. The goal of Northwest Auto [...]
What is better than finding the perfect car for you? Finding a car loan to pay for it that has the lowest interest rates in the Seattle area! Northwest Auto Loan providing car sales in the Tacoma, Washington area is where you can go. They can help you find your perfect vehicle, and they can help you finance it too.
With an easy-as-pie process, you can apply for a loan in minutes and hear back from a financing expert in less than 24 hours. Northwest Auto Loan is committed to getting you to best rates on your loan and helping you pay off your car with already low vehicle pricing. Buying a car has never been easier than it is here. If you haven’t picked it up yet, this is how to buy your first car.
Northwest Auto Loan
Northwest Auto Loan will take care of you with top of the [...]
Find the unique car buying experience you’re looking for with Northwest Auto Loan. There’s something special about going to a business that values its customers and makes sure that you get the exact thing that you want out of a car. Northwest Auto Loan helps you with how to buy a car for the first time with their exceptional car sales in Tacoma, Washington.
The first-time buyer experience will be amplified with their unique car finder service ensuring that you can find the vehicle that works best with your needs. The best thing about it, though? If you can’t find the exact car that you want through their car finder service, just fill out a simple form on their website or at one of their store locations and they will find it for you!
Northwest Auto Loan cares about your needs as a customer and they care about making sure that you are satisfied with [...]
Of course, you could go to any regular car dealership to buy your next automobile, but why would you sell yourself short, when you could visit Northwest Auto Loan? Northwest Auto Loan can help you with any need that you have in relation to buying a car whether that be actually finding the exact vehicle that you want to buy, staying within your price range, or getting you the loan that you need to pay for your shiny, new toy.
As mentioned, the first main benefit of visiting Northwest Auto loan is the fact that they can help you find any car that you would like to purchase. Through their online selection, you can browse the huge selection that they have and if they don’t have it, they will help you find it. They are unique in the way that if they don’t have what you need, they will make sure you still get it.