When you are looking to purchase a used car, there are many myths that you need to be aware of. Here are five of the most common used car myths and some surprising truths.
You Need Great Credit to Buy a Used Car
It is easier than ever to buy a new or used car with average to bad credit. Many lenders are now specializing in bad credit car loans. As long as you have stable income and you can show that you can afford to make the car payment, chances are you can get approved for the loan.
You Need to Put a Large Payment Down to Buy a Used Car
Anytime you are buying a car, you should be prepared to put down a small down payment. But the amount needed does not need to be larger because you are buying a used car. Try to have about ten percent of the purchase price ready to put down and you should be good to go.
You Can Get a Better Price Paying Cash
Many people think you have more negotiating power if you pay cash for a car. But, you have the same amount of power when you are financing a car. A dealership wants to sell the car for a set price. They are not going to lower their price simply because you are paying cash. If you won’t pay what they want, someone else will.
A Warranty is Not a Scam
In a perfect world, you will never have to use a warranty on a used car. But you don’t know what condition the used car is in and its history. Even with CarFax reports, you still don’t get the entire picture. As such, buying a warranty provides you with peace of mind, even if you never wind up using it.
If You Don’t Buy it Now, it Will Be Gone Tomorrow
Never rush to buy a used car if you are not ready. Many people do because they think if they don’t buy it today, it’ll be gone tomorrow. Used cars come and go and if you miss out on the chance to buy what you want today, chances are, a similar deal will pop up in the near future. Do your research and wait until you are ready.
If you are in the market for used cars for sale in Raleigh, turn to Auction Direct USA. We can help put you in the right car for your needs. Visit our website to see our current selection of cars or stop by our lot today.