Used car info

Buying a used car is a smart financial move when compared with buying new.  A new car depreciates substantially as soon as it is driven off the dealer’s lot, so even two or three year old cars are a huge bargain. With the lower price on used cars, you can afford a much nicer one that you would be able to afford new. Used cars also depreciate less than new ones. The biggest chunk of depreciation has already happened when you buy a used car, so you’ll be able to sell it a few years later for very close to your original purchase price.
When buying a used car, keep in mind that every one will have had a different life. Just because a car has a reputation for reliability doesn’t mean that it doesn’t need to be taken care of. Even a car that was driven by a little old lady to and from church could have problems if its oil was only changed once every three years. For this reason, it is important to have an independent mechanic inspect every used car you consider buying.
Used car loans usually have a higher interest rate than new cars. This is because many used cars come with no warranty, and unfortunately some people end up breaking down and being unable to afford repairs on their car and end up defaulting on the loan. Also, because a used car’s value isn’t as easy to define as a new car’s is, the bank has no solid evidence that the collateral on your loan (which is the car itself) is worth as much as the loan is for. Because of this, used car interest rates are usually two to three percent more than new car interest rates.
The price of a used car is always subjective. With a new car, the price is set by the manufacturer, but used car prices are determined by several factors and can change significantly depending on the section of the country you’re in or even what season it is. There are even two different books of used car values – the black book and the blue book, and they use different calculations to determine used car values. Because of this, negotiating the price of a used car is much easier than a new one.
Before you shop for a used car loan, get a copy of your credit report and check it for any mistakes. If you find any mistakes on your credit report, you can contact the credit agency and have them fixed. It takes a few weeks for your credit report to reflect the changes, so it is important that you know that your credit report is accurate before you apply for a loan or you could be stuck paying a higher interest rate than you deserve.
When you’re shopping for a used car loan, get several quotes at once. When a lending agency runs your credit, it will hurt your score a little bit. However, if several lending agencies check your credit score during a period of a couple weeks, all of the checks are considered one by the credit agencies. If you spread your loan applications out over several weeks, the credit agencies might consider them different credit checks. It’s always worth it to shop around for the best rate possible, just make sure that you do it quickly so that your credit isn’t hurt. 
Buy here pay here used car lots offer their own financing, and usually the dealership owns the financing company your loan will be through. These dealerships can often help you into a much nicer car than you could otherwise afford to buy. Because the dealership is making money off your loan, they can afford to charge a lower price for the car than another dealer could. But keep in mind, these dealerships will often try to talk you into using their financing if you buy a used car through them, even though you might get a better interest rate somewhere else.
When buying used, keep in mind that the interest rate on a vehicle bought from a private party will typically be more than on one bought from a dealer. This is because any reputable dealer will only sell cars that are in good working order. While a dealer is always trying to make as much profit as possible, they know that it’s bad business in the long term to sell cars that will fall apart – private sellers don’t have to worry about that.

Factory certified Pre-owned cars offer the perfect balance between new and used cars. They are used, but they have been inspected, repaired, and are guaranteed by the manufacturer to be reliable. Certified pre-owned cars come with a warranty from the manufacturer.   Certified pre-owned cars can also usually be financed at better rates than other used cars through the original manufacturer. You also get the benefits of buying a car from a dealer, who will take car of things like registering the vehicle for you, something a private seller couldn’t.