What to Expect When Buying Used Cars at Express Auto Credit
Now that you’ve decided to purchase a used vehicle from Express Auto Credit, you may be wondering “what’s next?” Everyone’s situation is as specific and different as the vehicles in our inventory. In general, used cars are easier to buy because they’re lower in price than brand new vehicles. But before you can go ahead and drive your car off the lot, you need to make sure you can pay it off. Since Express Auto Credit is a Buy Here, Pay Here dealership, you won’t have to get a loan elsewhere.
The Basics of Buying Used Cars
The vehicles in Express Auto Credit’s inventory range in prices so the interest rates and down payments differ from car to car. Although these details make each vehicle in our inventory unique, Express Auto Credit makes it easy for prospective buyers to see how their car payments will look once they get their vehicle. We achieve this through our handy financing calculator. With this calculator, prospective buyers can enter the cost of the vehicle, down payment, annual interest rate, term of loan in years, and frequency of payments. With the appropriate information, the result will depict the number of payments and the payment amount required for the car to be completely paid off.
Don’t Stress About Getting Pre-Approved for a Loan
Often times, it’s difficult for people to get pre-approved for a loan on a brand new vehicle. This is due to the fact that new cars cost much more than used cars. Used cars, on the other hand, give shoppers the ability to finance a loan and pay for the vehicle in small monthly payments and with a doable down payment.
Since Express Auto Credit is a Buy Here, Pay Here used car dealership, buyers won’t have to go to a bank or private loan organization to get a car loan. We take care of all these details in-house. You will be able to buy your used car here and pay for it here as well. Once the car is paid off in its entirety, you will receive the car title and the car will be in your full ownership! The reason many people come to Express Auto Credit is due to our low prices and ease of payment. We will work with you to make your monthly payments as feasible as possible.
Be Aware of the Down Payment
Although down payments differ from vehicle to vehicle, they are a standard in all car dealerships. The down payment is the first step towards car ownership. A common rule of thumb exists to calculate what the potential down payment may be. It’s usually around 10 to 20% of the vehicle’s total cost. So if a 2015 Honda Civic costs $12,950, the down payment will come out to $2,750, for example. This down payment should be paid upfront during a transaction. From there, we get to the monthly payments and interest rates.
What About Monthly Payments and Interest Rates?
Monthly payments depend on your specific situation. It’s important for you to understand that these payments tend to span several years. You should be prepared to pay a certain amount of money every month for the next five years, for example. The interest rates tend to start off high and then decrease as the months pass. It’s important to point out that interest rates are part of the monthly payments, they’re not added to the monthly payments. Each month, you will pay the same amount. At the end of the pay period, the vehicle will be yours!
Choose Express Auto Credit, Today!
Everything depicted above may be more general information, but it is helpful background knowledge with the topic at hand. If you need a vehicle and you want the process to proceed as smoothly and quickly as possible, choose Express Auto Credit! We will make your car buying journey as easy. Our convenient Buy Here, Pay Here services, low prices and varied inventory make us the best choice! Contact Express Auto Credit today to learn more about how we can help.