Posted Friday, April 16, 2021
Buying a late-model used car is an exciting endeavor, and the team here at Autos 4 Less is here to assist car buyers of all financial backgrounds and credit situations with making that upgrade a reality. Whether you’re a first-time car buyer or this is merely your first time seeking an auto loan for a vehicle purchase, let us walk you through the financing process.
When you’re undertaking your first used car purchase with an auto loan, the first thing you’ll want to do is know your credit score. Checking your credit rating ahead of time helps you understand how lenders will view your application for an auto loan, and can also give you an idea of what sort of loan rate and terms you should expect.
Remember, the better your credit score, the lower your auto financing rate will be! If you possess an average or higher credit rating, then you may consider financing more of the vehicle purchase, as you’ll pay a lower amount of interest over the life of the used car loan. Still, it’s recommended that you make a significant down payment so that your monthly payments will stay within your budget. You can use our payment calculator to help determine how much car you can afford.
Used car buyers with low credit scores have even more of an incentive to provide a larger down payment, as a bad credit rating translates to a higher interest rate. Whether you have pristine or poor credit, we recommend that you review your credit rating and consider saving up for a down payment before applying for auto loans.
One way to make your upcoming used car purchase a hassle-free experience when it comes to the financing aspect is to get pre-qualified for auto loans. By submitting a financing pre-approval form like the one here on our used car dealership website, you can secure your loan terms even before arriving at our Puyallup, WA, location for a tour and test drive.
To get pre-approved for an auto loan for a used SUV or pickup truck through our finance department, our team will review your credit and financial details provided and seek competitive loan packages on your behalf. We’ll then contact you to discuss the used vehicle you’re after as well as your financing options.
Seeking your first auto loan for used car purchase can be made stress-free when you work with the right people. At Autos 4 Less, we proudly serve all Tacoma, WA, area motorists through our dedicated finance center. With our online auto loan application, finding financing pre-approval is simple, too.
Beyond our financing application and payment calculator, we’ve also made our vehicle trade-in appraisal service available to your online. Find out what your current car is worth as a trade when you upgrade to a used truck or SUV at Autos 4 Less through one of our competitive financing packages.
Remember that applying for your first car loan does not have to be a daunting task! If you’re shopping for a used car, truck or SUV around Seattle, then the sales and finance staff here at Autos 4 Less can assist you with securing a driver-friendly price and loan package on your vehicle of choice.