Tips for Financing A Used Car
Financing your used car is an important part of the buying process. Whether you’re from Gulfport, Long Beach, or Biloxi, you want the assurance that you’re making the right choices for your particular needs and lifestyle. Luckily, we can help make this experience even simpler!
We spoke to our financing experts at Pat Peck Honda for all their best tips for financing a used car. Want to know what they have to say on the subject? Read on to learn the must-know tips for financing a used car.
Check Your Credit Score
Be sure to know your credit score before you head into a car dealership. Knowing your credit score will help streamline the process and make it faster and easier for you to get started on the financing process.
Remember, the more information our financing team has at their disposal, the faster they can work to get you financing on the car you’ve been looking for!
Go for Shorter Loan Terms
While shorter loan terms have higher monthly payments, they come with decidedly lower interest rates. The longer it takes you to pay off that loan, the more interest you’ll end up paying on your automobile.
However, you can avoid that by opting for a shorter loan term. Be sure to ask our financing department about the right loan terms for your needs and lifestyle.
Have An Idea of What You Want
When you’re getting ready to finance a used car, it helps to have an idea of exactly the type of automobile you want. Do you want a sporty used car or a sturdy certified pre-owned SUV that’s tough enough to withstand inclement weather conditions?
Once you have an idea of what vehicle works best with your lifestyle, the process of setting up financing becomes easier. Still not sure which models suit you and your needs? We can help! Our friendly staff will patiently work with you to figure out which car is right for you and your family.
Make a Large Down Payment If Possible
The more you can put down on financing your used car, the better. Experts say that at least 20% is a great starting point for financing your vehicle. A down payment helps reduce the amount you’ll spend on payments and can also have a positive impact on your overall interest rate.
If you want to know more about the benefits of a large initial payment, speak to our financing center today!
Visit Our Finance Center Today
Ready to get started on the process of financing the car of your dreams? Now that you know all our tips for financing a used car, visit Pat Peck Honda today! Our friendly and knowledgeable staff is ready and on hand to answer your questions and help guide you through the process of finding the right used car for your needs and lifestyle.
Whether you’re exploring Gulfport, Long Beach, or Biloxi, our team is sure to be able to help with all your car-related needs, so contact us today!