3 Tips for Financing Your Next Used or Pre-Owned Vehicle

By Product Expert | Posted in Tips & Tricks on Monday, July 1st, 2019 at 10:14 pm
Hand about to write a check after deal

Pre-Owned Vehicle Financing Tips in Pittsburgh PA

If you’re one of the many individuals that are on the market for a used or pre-owned vehicle, you’ll find that financing one isn’t as simple as it is with a new car. That’s especially true if you’re attempting to finance with bad credit. However, it doesn’t have to be a daunting or impossible task! Our agents at Porsche Pittsburgh want you to have the best experience when shopping and so we’ve created a small list of tips to help you! Continue reading to learn more!

1. Ask for Financing Quotes

Before approaching a dealership or settling on their financing department, you should get a quote from everyone that is willing to give you a loan. A pre-owned vehicle is not a small investment, and so you want to make sure you have as many options available for financing as you possibly can. You should compare their rates, the amount they’re willing to finance, how long their terms are, and more before you sign any contract!

Offering keys to a vehicle to view

Two people talking over a deal

2. Make a Large Down Payment

While this can be a hard hit to the wallet out of the gate, it’s important that you put a large down payment on a vehicle purchase. Many suggest a down payment as large as 20 percent of the total price, as it can greatly offset some of the costs of a vehicle as well as pay down on the initial loan. You’ll save money in the long run with a large down payment!

3. Consider a Co-Signer

If you’re a young buyer or someone that has very low or little to no credit, you might have a hard time getting decent rates by yourself. With that said, one way to offset this problem is to get a co-signer. They can help you lower rates and get a better monthly cost in the end!

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Buying a vehicle can be a tough experience, especially for first time purchasers. It’s full of complications and unknowns, and that’s why we at Porsche Pittsburgh created this list! Hopefully, it helps you find the best deal possible. To learn more about financing, or to see our inventory, come visit us today!

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