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Tips for Financing a Used Car

Buying a used car could be one of the best decisions that you make in your entire life. That’s right. Used cars offer savings that new-car buyers could only ever dream of. All that extra cash might just open up incredible opportunities for you, your family and your future. Now, for that matter of used financing ….

Because we’re invested in you, your family and your future, our team wrote this helpful guide to financing your next pre-owned vehicle. Keep reading for all the tips that you’ll need!

And, of course, if you live in Nashville, Gallatin or Madison, Tennessee, don’t hesitate to contact us, ok?

10 Tips for Financing a Used Car

So, without further ado, let’s get to the best suggestions out there. Follow these to finance the used car of your dreams – quickly, safely and affordably. As always, get in touch with us if you have questions.

  1. Order a Copy of Your Credit Report: You can’t know your options if you don’t know where you stand. Equifax, Experian and TransUnion are all required to provide you with a free copy every 12 months. If you’re having trouble interpreting what you’re reading, our experts can help you.
  2. Perform Some Credit Touchups, Revamps, Operations, etc.: Let’s face it – we don’t all have the best credit. But that doesn’t mean the end of the world for buying your dream used car. Spend a few months catching up on those bills, calling your creditors, consolidating your debt and you may find yourself in a drastically better position. Start financing your used car after all of that.
  3. Get in Touch with Banks and Credit Unions: If you have rapport with an institution, that’s a plus.
  4. Consider Online Lenders: These days, a number of lenders operate on the web.
  5. Think About Dealer Financing: For example, here at Toyota of Gallatin, our financing wizards can come up with a plan that makes sense for your lifestyle – think money-saving rates, folks.
  6. Avoid Those Buy Here/Pay Here Joints: Although they’re helpful in a pinch, these institutions charge the highest rates of anybody. It’s much better to opt for a bank or a local dealership.
  7. Pick a Car After Securing a Loan: This way, you’ll know exactly what you can afford…and what you can’t. One of the biggest mistakes that amateur used-car buyers make is allowing their eyes to get bigger than their stomachs. Spend within your means and you’ll thank yourself later.
  8. Ramp Up Your Down Payment: Big down payments make lenders’ hearts beat more quickly. When their hearts beat more quickly, they’re more willing to offer you a favorable rate.
  9. Beware of Taxes, Fees and Extras: It’s like your grandpa said, all that glitters ain’t gold. Okay, maybe he didn’t say that, but you get the point. Try to pay for taxes, fees and any extras with cash, or else your savings can disappear.
  10. Put Toyota of Gallatin at the Top of Your List: We offer some of the best financing terms for used cars, period. Reach out to us right now and we’ll tell you how we can improve your life.

Toyota of Gallatin: Your Number One TN Used Car Financing Spot!

As you can see, once you know our tips for financing a used car, financing a used car is a fun and exciting process. So, make it even more fun with the Toyota of Gallatin financing team. If you live anywhere near Gallatin, Madison, Nashville or any of the surrounding TN communities, then we’re the dealership for you. Call us or chat with us online right now!