In the market for a used vehicle? Here are a few tips!
Buying cash? Always remember if it sounds too good to be true, it is!!! If you are shopping price I recommend searching the internet to figure out what the average market price is for that particular vehicle you are looking for and once you find the one you like you will have already prepared yourself to know what the bottom price should be. Be extremely careful of dealers selling rebuilt vehicles. (that when the price normally is too good to be true)
Looking to get financing and dont have the best credit? Find the vehicle you are looking for? Ask the dealer what the cash price is, then when the finance contract is presented you will know how much the financing fee is. If the financing fee is more than aprox 14% of the price you are being over charged. Keep in mind this is worst case senario.
Looking for financing and have good credit? Of course check the market to get the best fair market price evaluation for the vehicle your looking for but also consult the bank you have your accounts with. (Wells Fargo, CitiBank, Bank of America) Ask them what type of rates they can offer you and terms. Now once you go to the dealership you found the vehicle you want at you can compare the financing options they have versus your banks.
Just a bit of advice from Imperial Capital Cars simply because we care.
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