What type of income is acceptable to get approved for finance?

Printed Paystubs, Unemployment, Fixed income such as SSI, SSD, Workers Comp

What if I’m self-employed?

That’s fine, as long as you can prove your income with bank statements showing deposits, or canceled checks that you received.

Do I need a down payment?

Most people do need some cash down. That is how the bank gets comfortable with loaning you the rest of the money you need to purchase the vehicle you want.

How much of a down payment will I need?

The amount of your down payment is determined by the bank giving you the loan. It’s different for every customer, and depends on several factors, such as credit history, length of employment, and the kind of vehicle you wish to drive.

Buying Used Cars: How to Find Quality Cars

Posted Tuesday, May 16, 2023

When searching for used cars for sale, most buyers' top concern is the vehicle's quality. While new cars have warranties, used cars can become a liability to buyers due to various factors. Many dealerships offer used car finance services in the U.S. However, only a few credible names care for used car buyers in the long run. If you plan to buy a pre-owned vehicle, a few crucial factors may come in handy to make an informed choice. Let's dive into the details to learn more.

Quality Used Cars in Decatur Ga - Olympic Auto Sales

Essential Factors to Consider When Buying Used Cars

Used car finance can be tricky if you are unaware of the vehicle you buy. A test drive may highlight only a few factors about the vehicle. The real picture appears once you use it every day. You may need to keep a few variables in check to avoid regrets about your buying decision.

1. Know Your Preferences

Quality cars come from quality decisions. You can only be wise about your car choice if you know your preferences. When you plan to buy a car, you may list your preferences to drive your purchase decision. A common mistake some car owners make is asking other vehicle owners what they should get. Your car preferences should entirely rely on your needs. Others may not fit into your shoes to tell you what you need.

When determining your preferences, you may ask yourself the following questions.

Why do I need a car?
Do I need a regular commuter or a luxury car?
Can I afford high fuel costs?
What features do I need in my car?
How long do I plan to keep the same vehicle?

These questions can help you narrow your preferences and decide the direction you need to go. Once you are clear about the answers, you can proceed to the next part.

2. Evaluate Your Credit History

You may want to avoid focusing on a used vehicle you cannot finance. Before looking for quality vehicles, checking your credit history is crucial. Running a credit check on your accounts can give you an idea of your financial status. Credit checks can determine whether you are a good or bad credit buyer. Good credit buyers (typically) have more used car finance options than bad credit buyers.

If you think your credit status may not allow you to buy trustworthy cars, you can wait a few months to improve your credit score and try again for more options. Some used car dealerships are flexible with bad credit buyers regarding vehicle choices and payment terms. You can research your options beforehand to get the best deals.

3. Gather Accurate Vehicle Knowledge

When searching for used cars, you may want to improve your vehicle knowledge to avoid scams and fraudulent sales. While you research car features and specifications, you may want to focus on credible sources, like official websites and listings, to gather accurate details. A good rule is to get in touch with one of the car owners (of the same model) to get a clear insight into the pros and cons. Such information comes in handy when negotiating used car deals.

Some used car dealers use tricks to paint a good picture of a faulty vehicle for buyers in order to get a good price. You can only avoid such scams by knowing every detail about the vehicle you are considering buying. Once you are familiar with the details, you can negotiate a good price with the dealer.

4. Do Not Believe Online Classifieds

Used car sellers place online classifieds to attract local car buyers. They use appealing visuals and details to lure buyers into getting the advertised cars. Typically, car buyers with little technical knowledge check out those cars and proceed to buy them. However, soon they find the hidden flaws, leading to bigger problems.

If you notice such ads, you may ignore them or discuss them with an expert on your list before considering buying them. Good cars generally do not need hard selling in the pre-owned vehicle market. They attract buyers based on their quality and performance. It is worth noting that not all online classifieds may raise red flags. Some used car dealerships sell what they show. You may check a dealership's customer reviews before visiting them to buy used cars.

5. Avoid Impulsive Decisions

Buying a car is a long-term investment. It requires much critical thinking and financial planning. Regardless of your need for a vehicle, you may learn to keep your emotions separate from the buying equation. Generally, first-time buyers are more impulsive when picking used cars. They settle for good looks, a clean interior, and a quick run. While these factors are important indicators of quality cars, they may not account for many other underlying problems.

An effective way to avoid impulsive decisions when searching for pre-owned cars is to keep an expert in the loop. Car experts can help you evaluate the true picture of the vehicle's quality and performance before you buy. You can also ask a car owner who owns a similar vehicle to make an informed choice.

6. Buy from a Trusted Used Car Dealer

The quality of your used car largely depends on its source of purchase. With so many used car dealerships in cities, you may find it tricky to stick with a credible name. This is where customer reviews, business ratings, and references are useful. Instead of making random choices, you may research used car dealerships in your city to narrow your preferences.

Trusted car dealers never hesitate to share vehicle history reports, documentation, and technical details. If you have multiple dealerships on your list, you can compare vehicle qualities and finance plans to pick the best fit.

Final Thoughts

The above factors can help you find quality cars in your city. Olympic Auto Sales can be an ideal choice if you need a used car dealer with flexible car financing deals. This trusted auto dealership has a strong footprint in the local market for low-income buyers, buyers with good credit, luxury car buyers, and more. Feel free to contact the dealership today to learn about your options.