According to How Stuff Works, depending on their credit score, the average American can expect to pay an APR (annual percentage rate) of anywhere between 6 percent and 18 percent on their auto loan. If you're shopping around forcertified pre-owned cars, chances are one of your biggest goals is to find a loan that features an APR you can afford. Whether you have less than perfect credit or a short credit history, here are a few ways you can get a better APR on your next used car:
Buying a used car is a great way to obtain a vehicle for an affordable price, but there are several things you should do before you start shopping. If you want to make sure you choose a car that will be reliable and last a long time, you should complete the following two steps before you sign a purchase agreement.
Get A Vehicle History Report
Examining and test driving any car you are considering purchasing are two important steps in the buying process; however, these two steps will not tell you a lot about the history of the car you are interested in.
Your teenager has passed their driving test and been awarded a license from your state, and you've decided to help them out by purchasing their first set of wheels. For many families, the logical thing to do is to buy a used car for the new driver. Used cars are not only less expensive to buy, they're less expensive to insure. And they take a little pressure off of your newly minted driver – a few scratches and dings are par for the course for most teens, and they won't be so noticeable on a used car.
Thousands of Americans buy a new sports utility vehicle (or SUV) every year. While some buyers will buy their new SUV outright, some people prefer to trade in an older vehicle as part of the transaction. A trade-in can help you cut the amount of cash you need to come up with, but it's important to make sure you get the best possible price for any used car or you could lose money.