How To Finance A Used Car
So, you've decided to purchase a pre-owned vehicle near Mount Pocono, Tobyhanna, Scranton, Stroudsburg, or East Stroudsburg.
While this is certainly an exciting time, you may be wondering how to finance a used car. Financing a car is quite versatile with different plans catering to different lifestyles and needs. How do you choose the right structure?
It helps to have an experienced team supporting you, such as the team at Ray Price Chevrolet. This overview will discuss different options for financing a used car. If you still have questions, our team will be happy to address them!
Financing A Used Car: Loans
Loans are one of the central aspects to financing a used vehicle. However, there are quite a few types of loans as well as different types of lenders.
For example, you can get a direct loan from either a bank or a credit union. The benefit of a direct loan is that there are typically few restrictions. While there may be certain instances that prevent you from getting a direct car loan, you can always apply for a personal loan instead.
Online lenders are another option. To differentiate between these many choices, you can speak to the financers at local dealerships. Our dealer has experts who can guide you in the proper direction. They have ample financial experience and have developed a strong relationship with many local lenders.
Financing A Used Car: Credit
Credit plays a big part in financing. It will influence the type of loan and the interest rate that you qualify for. How do you go about boosting your credit?
To begin, you'll want to make payments in full each month. Allowing payments of any size-even modest purchases-to linger on your credit card may negatively impact your score. If possible, you'll also want to consolidate your credit onto a single card rather than spreading payments among multiple cards.
Additionally, you'll want to avoid paying off debts on one credit card by using another card. You'll also want to avoid taking out large cash advances. Typically, these advances have high interest rates and are considered a financial risk by lenders.
Helping You Through The Financing Process
Our dealership has a specific Chevy financial center where you can learn about financing in more detail. When you come in, an advisor will sit down and explain financing options that fit your needs.
Buy Here, Pay Here financing is one of the more popular methods since it cuts out the middleman. If you’d like to establish a budget beforehand, it’s wise to utilize our online tools, such as our trade-in calculator and payment estimator. You can save time and begin the process at home by filling out our secure online financial application.
Learn How To Finance Your Used Car
Financing is rather straightforward when you have a knowledgeable team supporting your efforts.
For drivers near Mount Pocono, Tobyhanna, Scranton, Stroudsburg, and East Stroudsburg, that team is found at Ray Price Chevrolet!
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