Why People in Chicago Illinois Still Like Buying Used Cars

Low payment cars in Chicago Illinois

 

Used cars are on the rise and there is no sign of stopping from what we know people are looking to buy used cars more than ever because of the tariff. The main reason people are going after used cars rather than new cars is their worried about an interest rate hike and as they should be.

Why spend more on a vehicle than you have to? Used cars are still good and most used cars have an average life-span of seven years if you take care of them.

There isn’t really a good reason to not look at used cars at any car dealership in Chicago? We recommend that if you are looking for a used car? You should look at ones that are at least three years old to get the most for your money.

Have a down payment when you buy a used car in Chicago Illinois

Plus, you probably won’t have to spend a lot of money on it and if you have a down payment to go with it the better you will be. Right now, in the market people are trying to beat the interest rates because there will soon be a hike of some kind so if you can buy a used car in Chicago and have a decent interest rate go for it.

Some ways to make sure you have a good interest rate are:

  • Have a $500 down payment or more
  • Have a credit score as close to 700
  • Be able to show good income

Those three will impress most auto lenders. The things you want to stay away from are upgrades on the car and the possible no money down car loan in Chicago because even though it sounds nice you don’t want to purchase a used car and already be upside down on it.

But if you do decide to do a no money down car loan make sure you read the contract and make a large first payment because the interest can be high at times.

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If you have low credit and the car dealers are offering you a high-interest rate for a car loan like 19%. We work with all car dealers in the Chicago area

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