Used cars a great way to save money and bounce back from a bad credit score. A car with say 20,000 miles on it has a significant price drop to it, versus to when it was new. That doesn’t necessarily mean that it’s dirty or unsafe, it just means a practically brand new car is for sale at a decent price. That should make a buyer more interested in used cars but if the buyer is trying to improve their credit score rating there’s also a more important reason; making payments on time. Used cars, bad credit and loans all define the way you shop for a car.
New, but Not so Shiny
That new car is everything you’ve ever dream of and more but reality check; so are the payments. Sometimes qualifying for a loan on a new car is tricky, especially if you’re looking with a low credit score. The interest rate alone can put you right back into debt. Of course with a more costly new vehicle the payments will be much larger, thus jeopardizing the risk of your credit score. The main goal is how to buy the right car for the right budget and paying it off in the near future.
What to Look For
No matter how few miles are put on the car, there should always be a history. This is your opportunity to investigate how well the car will hold up in the future. You certainly don’t want the vehicle to run out before you’ve even completed the payments on it. Who was the previous owner? Did they do routine maintenance on the vehicle? These are just a few questions to ask when buying a used car. If you are at a trusted dealership they should not only give you answers to these questions, but a full history report on that vehicle you’re interest in. Go to www.thekeyonline.com for more information. Like us on facebook.
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