Getting a car loan doesn't have to be a nightmare, even with bad credit.

3 Tips for Purchasing a Used Car

last updated November 8, 2014 by

The dreaded time has come at last. Your high school speedster or trusty pickup has crawled its final mile, leaving you with only one option: buy a new car. Unfortunately, your budget is tight. Economic struggles have recently hit home, not only increasing caution in any purchase, but causing a decrease in the girth of your wallet. Some might even need Bad Credit Auto Loans. However, being the smart consumer you are, you know that simply buying a used car will solve several problems right away. Allow me to explain.

get a car loan

According to research, a brand new vehicle can depreciate in value as much as 70 percent within only three years. In fact, most of that loss of value happens within the first year. That means that by driving off the lot, the proud new owner is losing up to 15 percent of their vehicle’s value. This can make for a difficult reselling process down the road. By this fact alone it should be clear that buying a used car is a smarter move in the long run, and certainly a more affordable one. Here’s a few tips on how to find that perfect used car.

  1. Utilize the internet  Used car inventories are made abundantly available online. In addition, private seller websites like Craigslist are a wonderful option for those looking to find an affordable vehicle. The internet is also a smart move for procuring an Auto Loan. Overall, the internet has made car shopping incredibly easy and comfortable. Just grab a cup of tea, a nifty laptop, and a seat on the couch – you’re all ready to go. Bad Credit Auto Loans are also made available online through lenders like Complete Auto Loans.
  2. Know your budget – Stay knowledgeable concerning how much you can actually afford. This includes monthly payments for a potential loan, a decent down payment for the car, and of course the cost of the car. By taking each of these into account and setting a limit for yourself, the whole process will become less of a risk.
  3. Test drive – This may seem obvious, but there are several things to watch out for, especially since it’s not brand new. Even if you’re purchasing a relatively new model, be sure to pay close attention to any engine noises, the car’s ability to climb hills, acceleration from a stop, and various braking, cornering, and suspension abilities.

Always remember, should you be struggling with poor credit, Bad Credit Auto Loans are made available through Complete Auto Loans and their unique online services.