Is It Harder To Get A Car Loan For A Used Car?

Is it harder to get a car loan for a used car? Learn how auto loans are figured into used car sales. No. The majority of cars sold are used cars and not new cars. The used car sales far out weigh the new...

No. The majority of cars sold are used cars and not new cars. The used car sales far out weigh the new car sales.


Q: What should we know about getting a used car?

Financially you should know and understand the value of the car. Understand how the dealer has priced it; know the wholesale and retail price of the car. The fair price is somewhere in-between. Look at the condition and the wear and tear. Look at the mileage, paint, interior and exterior. How does the vehicle drive? Does it break well and drive smoothly? In purchasing a used car you could look into purchasing a service warranty. You can look online for warranties and service contracts. The dealerships will try to sell you more because they get about 150-300 percent commission on your sale.

© High Speed Ventures 2011