Buying a Used Car: Robins Financial Credit Union

If you need a car, but are looking for ways to save money on such a large purchase, you’ve probably already considered buying a used car. This can be a great option because cars lose value quickly in their first five years. Buying a used car means that someone else has paid for this depreciation of value and the savings are yours. On the other hand, you should also be aware that a used car may no longer be under a warranty which puts you on the hook for repairs. And, of course, you’ve got to do your due diligence to make sure you’re aware of any problems that the car may have You can buy a used car either through a dealer or from a private seller. There are some advantages to buying from a dealer. You have a better chance that the car has been inspected and it does not have any major hidden problems. You may even be able to get a warranty if the dealer has certified the car On the other hand, buying a used car from the dealer will generally be more expensive. To try to save more money, you can look to buy a used car from a private seller. Private sellers may also want a complete cash payment unlike dealers who are willing to finance. This doesn’t mean you can’t take out a loan you simply need to arrange the loan in advance so you have the money in hand to make the full payment. Also, when you buy from a private seller you and the seller must take care of all the paperwork such as title transferring and tags. But this opportunity to negotiate a lower price does come with some risk. Even after taking the essential steps of running the vehicles history and having a mechanic check it out, they may miss a problem with car. And any problem you discover after money has changed hands is now your problem Buying a used car can be a very smart way to save money or get a better car for your money as long as you take sensible precautions If you have more questions about buying a used car or financing a used car reach out to our auto loan experts at Robins Financial Credit Union. For more information, call, click, or visit any of our branch locations

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