Most people are really eager to buy a car but the best way to go about it is to wait until you have 33% of the down payment and enough of a saving for repairs on the used car if you need them.
You really need to shop around for the best car deals, it’s okay to hop around car dealerships for about a month before seriously buying because you want to see what’s out there.
Cheap used cars in Ohio
New cars aren’t really moving off car lots and some car dealers want to sell new cars over used cars but when it comes down to money used cars are cheaper. It’s less of a risk to buy used off a pre-owned car lot in Avon Lake Ohio because the used car is certified.
But you want to make sure your money is right before going out and dropping thousands of dollars on a used car.
Most car dealers want to see that you have a down payment and right now used cars are half the price of a new car. New car loan prices are around $30K that’s a lot to swallow when you think of the interest you will be paying on the vehicle.
That would make me switch over to looking at a pre-owned car in Avon Lake Ohio just to save a little on the interest.
How car dealers can help with auto loans
See car dealerships make their money on the interest paid on the auto loan. The longer the loan the more interest paid for the car. And as a car buyer, you don’t want to do that so here is what you can do.
- Save for the down payment on the used car.
- Go to the bank or credit union to see what their interest rates are. Most credit unions can beat car dealers with interest rates.
Car dealer financing isn’t bad but the interest rates are going to be higher than usual and that’s what you want to avoid. So the more money down the better you will be with an auto loan.
Before buying a car you want to see what cars, trucks, and SUVs are going to be best for you. Because any car dealer is going to be motivated to sell you on a car that might not fit your needs.
A safe reliable car needs to be within reach and we know where to start with that mindset with new or used cars in Avon Lake Ohio.