How to


a used car

Used cars can offer big  savings over new ones,  but you might still need to finance your purchase. The following tips will help you avoid common pitfalls and paying more than you have to when buying and financing a used car.   

Check the   vehicle history

Check the vehicle history report for any car that you  are serious about buying.  The report will inform you about flood, collision, crash damage, or any other past problems with the vehicle. 

It’s a good idea to check your credit score periodically to see if there are any areas that need improvement. The best interest rates on loans, generally go to those with  the best credit. 

Check your   Credit score

Get  Pre-approved

Getting pre-approved gives you a baseline from which  to start. It can help you narrow down your car search once you have been approved for  a desired amount. 

Put as much money down as you can comfortably afford. The more you pay upfront,  the less money you’ll lose to interest payments. 

Make a    downpayment

Avoid  long-term loans

A loan that lasts 60 months may keep your monthly payments low, but you’ll pay more in the long run, and will probably end up paying a higher rate. 

Inevitably, all cars need regular maintenance to ensure their quality and safety. It’s a good idea to come up with a rough annual maintenance budget based on a car’s age and mileage so that you are financially prepared. 

Factor in potential Maintenance costs