Buying a car can be confusing. First, you have to find the perfect car for you, but that is only the beginning. You have to figure out how you are going to pay for it. Most people are unable to buy a car outright so they have to find a loan to cover the cost. However, each loan is different so it is important to ask the right questions before you sign the dotted line!
Here are some questions you should ask before financing your used car.
How much am I really going to be paying for the car?
Most car dealerships give you a price. However, there are taxes, tags, and other fees. Sometimes, these fees can be a considerate amount so before you find a loan, it is important to know exactly how much money you are going to be spending.
Will I get a penalty if I pay off my loan early?
Though most loans allow you to pay them off early without a penalty, there are some that will charge you for paying it off early. For this reason, you want to make sure that you can pay off your loan early if you are able too!
What is the best thing to do with my old vehicle?
You’ll usually get more money from your old vehicle by selling it privately, but that can tend to be more of a hassle. Do the same research you’ll do for your new vehicle and cross-reference local used auto classifieds to find out your best asking price or trade-in value. Many times, it can work to your advantage to trade in your old vehicle and reduce the monthly price of your new vehicle.
It is important to know all of the details so that you will have a good idea of how much you are going to be paying. If you want to shop for your next vehicle with ease, shop with Drive Now. Get used buy here pay here auto loans to finance your next vehicle. Contact us or stop by one of our convenient Arizona locations, we’ll help you Save Money! Drive Better! Drive Now!