What Is the Best Way to Finance a Used Car?

2019-12-05 By Legend Auto Sales Blog

Do you have enough money stashed away in the bank to pay for a used car, truck, or SUV with cash? You’re more than welcome to use it to buy your next vehicle, but it’s not always a great idea.

You should know that you also have the option of financing a used car. At the moment, more than 100 million Americans—or roughly 44% of the adult population—have car loans.

There are several ways to obtain the financing you need to purchase a pre-owned vehicle. But the best way to finance a used car is by working directly with a used car dealer. Here’s why:

You Can Apply for a Loan Online Before You Begin Car Shopping

If you’re thinking about buying a used car sometime soon, do yourself a favor and try to get pre-qualified for financing before you start shopping around. There is nothing worse than falling in love with a used car only to discover that you aren’t able to qualify for a loan to buy it.

Legend Auto Sales works with over 70 different lenders to ensure a rate and down payment that work for you, no matter your credit situation. All you need to do is fill out a financing application online.

All we need is basic information like:

  • Your name
  • Your address
  • Your Social Security number
  • Your employment status
  • Your annual income

Once we have this info handy, we can let you know whether or not you’re pre-qualified for financing. We’ll also let you know how much money you can borrow to buy a car.

This will be very helpful to you because it’ll allow you to narrow down your search for a used car. It’s a big part of what makes taking this approach the best way to finance a used car. 

You Get Chance to Buy a Car Even If Your Credit Isn’t Great

You may be under the impression that you’re not going to be able to get the financing you need to buy a used car because of your credit score. You might worry that a used car dealer is going to deny them the opportunity to take out a loan if you have bad credit or no credit at all.

But you might be surprised to see how accommodating a used car dealership can be. We welcome those with good credit with open arms – but we’ll also do the same for those with bad credit. Bad credit financing is available for used car buyers in the form of sub-prime auto loans.

You don’t have to be too concerned about your credit score stopping you from being able to buy a used car when you call on the right dealer for help. We’ll look beyond your credit score and prove why working with us is the best way to finance a used car.

You Can Build Your Credit Up Over Time

For those with bad credit or no credit, taking out a sub-prime auto loan is the best way to finance a used car for a number of reasons.

First and foremost, it’ll help you get your hands on the used car that you need. It’ll also get you access to a car loan that you can afford to pay off over time. But maybe most importantly, it’ll ensure that you don’t have to live with bad or no credit for long.

By making regular payments on your used car, you can gradually build your credit back up. Once your used car loan is completely paid off, your credit score should be in much better shape than it was in when you first took your loan out.

We’ll Provide You With Competitive Interest Rates and Loan Terms

A great used car dealer won’t just offer you financing options when you’re interested in buying a car from them. Legend Auto Sales will go above and beyond to make sure that you get the most competitive interest rates and loan terms possible.

We maintain working relationships with dozens banks and credit unions so that we’re able to find you a low-interest rate and favorable terms for your loan. It’s our mission to keep your monthly payments low so that you won’t have any trouble making them.

There are a record number of Americans behind on their car payments right now for one reason or another. You can reduce your chances of ending up in this category by working with a used car dealer that will make your payments manageable.

Get Behind the Wheel of a Used Car You Love

With help from Legend Auto Sales, you can get the financing you need to buy a used car. You can also get a used car that you love. You won’t mind making monthly payments on it when you enjoy everything about it.

Whether you’re looking for a used car that costs under $15,000 or a new arrival that looks brand-new, your used car dealer can help you find something that fits the bill. It’ll ensure that you love your used car and the financing terms that come along with it.

See Why This Is the Best Way to Finance a Used Car for Yourself

We can tell you all about how working with a used car dealer is the best way to finance a used car. But you really need to experience it for yourself to see what it’s all about.

More than 90% of the people who purchase used cars off our lot finance their vehicles through us. We highly encourage our customers to consider doing it since it helps them get the car they want while also building up their credit.

Get started today! Contact us today to learn more about the financing options that we have available for you at Legend Auto Sales.

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