Regardless of whether you have good credit or not we here at Bob King Mazda in Winston-Salem also serving Greensboro, High Point, Charlotte, and Burlington areas can help you obtain the credit you need to purchase a new Mazda car, truck, or SUV. With a multitude of lending options you can be sure to find the best auto financing plan for your next new or used vehicle, even if you have bad credit, poor credit, no credit, or are even a first time car buyer. Let Bob King Mazda help you rebuild your credit with a great auto loan.
Don't let your bad credit history prevent you from getting the vehicle you need, making on-time payments on a new car loan you can effectively rebuild your credit. Take a moment and fill out our online finance application, or if you prefer, call us at 336-724-2861, one of our knowledgeable finance specialists will help you get the financing you need to get your next new or pre-owned vehicle.
Buying a car is going to be one of the most expensive decisions of your life. Choosing one should be done after a lot of thought and deliberation. When buying the costliest car is not an option and saving money is a priority, buying a used car can be a good idea for some. If you can’t decide which to buy: a new car or an old car, read on.
There are many things to keep in mind before you decide what kind of car you want, a new one or a used one. Few people can afford to buy a car without a loan, so that is something that is of utmost importance. Which can give you the best deal, a new car loan or a used car loan?
1. New car loan will always get you a lower rate of interest than a used car loan. The main reason for this is because the lender of a used car loan always fears of default payments. In case of lenders of new car loans, the price of the car is more; as such the rate of interest is lower.
2. The down payment of a used car is usually more than that of a new car of the same category.
3. The Annual Percentage Rates of a used car loan is higher than that of a new car loan.
4. You must know that a bad credit score will get you a higher rate of interest, right? Well, if you are in the market for a used car with bad credit, the rate of interest for your loan may just be higher. Lenders consider people with bad credit a huge risk and hence try to cover them by charging a high interest. This goes up further in case of used cars.
5. Your dream car may be too pricey for you to even consider buying it. But the same car that has been used for a year will cost you a lot less. You can have the car and yet not burn a hole in your pocket!
6. It’s difficult to get financing for a car that is more than 5 years old. Getting a loan for a new car is easy.
Though buying a new car will always get you a better deal from the lenders than a used car, if money is short, buying a used car is probably a good idea. Following are a few tips you may need to get a used car financing.
1. First of all you should find out your credit score. Find out where you stand before you start looking.
2. There are many lenders who are willing to give used car loans. Bob Kings finance department and Used car manager work with them to get you the best rate available.
3. Negotiate well for as low an interest rate as possible. But understand that your credit rating and the vehicle you have chosen play a key role in what a lenders rate will be.
4. Strike a deal with the company pre-owned manager for a vehicle that fits your budget. It will help you get a better deal for a used car loan.
