If you have been considering purchasing a new car, then you may want to think of going with a used car in Thunder Bay. You will likely find many used cars that could be just as good as new, and for a lot less money too. There are several other advantages you could find yourself with once you decide to buy used as well.
Many people simply grow tired of their vehicles and want to sell them for something new. You may be able to get a very good vehicle simply for this reason. You may find the perfect car for you and your family just because someone else didn’t want it anymore. You can expect to have your used vehicle for several more years with no problems just because they no longer wanted it.
You are able to find many quality certified used cars in Thunder Bay at Performance Motors. We have a great selection and all come with a CARFAX History report. Please view our inventory online and if you require financing our finance experts will get you approved at a low interest rate.
It is hard to afford a car these days without getting a loan first. However, sometimes people struggle to get car loans based on their credit score. You may have had something happen that ruined your credit, or you may not have much of a credit history and this may be your first car. We believe that this shouldn’t stop you from getting a car that you may desperately need.
With today’s lifestyle, getting a car is a must for a lot of people in order to get to work or even something as simple as going to the grocery store. This is why, even with less than ideal credit, every person who needs a car should be given the chance to get a loan and prove that they will pay it back. After all, if the problem with your credit is that you haven’t had enough money to pay your bills, that isn’t going to get better if you can’t get to work due to not having a working car.
Some people with no credit or bad credit may also run into a problem where the only people willing to lend to them want them to pay astronomical fees or they will lend very little money where you almost can’t afford the car. We don’t believe in that, and will work with you to find a lender that understands your situation. Being a car dealership, we know a lot of places to get car loans, and every lender is different in how they deal with situations involving credit.
Don’t let the fear of being rejected due to your credit stop you from pursuing your car. Although the situation may not be ideal, we will find you something that you will be able to get a loan for without paying high fees or settling on a car you don’t really want due to your credit score.
With poor credit, you may feel like your car-buying options are also on the poor side of things. The good news is we have financial solutions for individuals who have struggled with credit in the past. To help you get beyond where you are now with your credit rating, we offer solutions that allow you to get approved for car financing with a bad credit rating.
One of the best things about getting approved for financing when you don’t have a great credit history is you can improve your credit rating. You need to start working your way toward better credit at some point, and our financing solution allows you to do that. By staying in contact with our financial representatives and letting us know what your financial situation is, we can help you make sure your payments are on time and in full so it makes a positive impact on your rating.
Something to keep in mind is you will have a lot of options when it comes to credit approval for individuals with bad credit. No matter the type of automobile you are looking for, we will have something that meets your needs, and you will be able to purchase it with the help of financing. If you need a small sedan, we can make that work. If you are looking for a van, we can make that work as well. Your options don’t have to be limited just because you have struggled financially in the past.
When you need a new car, don’t hesitate because you have bad credit. You do have options and we are here to help. Our solutions allow you to get approved for auto financing so you can improve your credit rating and purchase the car you have always wanted. Don’t wait to make these improvements to your life. Speak with a representative today to see what you need to do to get started.
There are many things to consider when poring over a wide inventory of used trucks in hopes of finding the right one. The most common stream of thought to have is how the truck will be utilized. Is the truck going to be driven for commercial use, or for basic daily driving? Are you looking for something more rundown for off-roading excursions, or is an upgraded and comfortable model more your speed? Knowing the answers to these questions will help to set you on the appropriate path to finding the perfect truck.
It is safe to assume that people who prefer to drive trucks over cars are not afraid of getting their hands a little dirty. Being unafraid of grease and grime will come in handy at the car lot when looking underneath the truck. Inspecting the truck yourself is a step that should not be neglected when searching for a new truck to buy. Oftentimes, some places will hoist the truck in the air for you to inspect, or will do a complete inspection themselves for little to no additional fee.
If you are unsure of what to check, make sure an experienced technician conducts a thorough inspection of the truck and provides you with a very realistic assessment of required repairs along with the cost of each one. The main issues to check are the brakes, steering components, possible leaks, weak metal, and damage.
Additionally, try not to be distracted by a truck’s outer appearance. A new paint job adds a nice touch, but it is important to find out what the motivation was behind that fresh coat. Make sure to find out if it is covering scratches, rust, a dull surface, or any other possible defect. When it comes to used trucks, the goal is to find all about the history.
Once you have found the right truck to purchase, try not to second guess yourself. If you did your research, got the right price, and are happy with the outcome, do not worry that you missed out on something better.
Sometimes it seems like cars break down at the worst times. You might not be in a great place financially when your car becomes inoperable, and buying a new car is not always possibly. When you need a car, and you have limited funds, a good used car might be the best thing for you. There is a wide-variety of used cars on the market. With a little bit of research, you might find a used car will work well with your current lifestyle.
Know Your Budget Before You Begin
Before you start your travels to dealerships, you need to consider how much money you can afford to spend on a used car. You could save a lot of money, if you pay for the car in full. If this is not possible, consider making a large down payment. Obviously, when you finance your car, the cost is more because you are paying interest each month when you make your payment. Traditionally, when you purchase a used car, rates are higher and the financing periods are usually shorter compared to purchasing new cars. One tip most financial experts offer is to never spend more than 20 percent of your take-home pay on a car.
Estimate Future Expenses
Always do research on the car you want to purchase to see if certain parts need to be replaced more frequently. You might have a particular car in mind that you’d like to buy, but if the water pump in that model has a history of failing, than you might want to consider another car. When you purchase a used car, there’s always a chance you will have to forgo funds for maintenance and upkeep. An older car obviously has more wear and tear on it than a new car. Having savings put aside is important, since you don’t want your car to cause you unnecessary debt.
Buying a used car for the first time can be an exciting yet puzzling experience. There are so many makes and models to choose from, and because there’s such a wide selection, it can be hard to know where to begin. Whether you’re working your first job or attending school, having a reliable vehicle can make all the difference, and we’re here with some tips on how to browse used cars, narrow down your choices and understand your payment options.
Before Your Browse
While you might think the first step in finding a quality used car is to browse vehicles online or visit car lots, it’s a good idea to organize your finances first. Gather your monthly bills so you can calculate what you can afford in the way of a monthly car payment, obtain a copy of your credit report and take the time to ensure all the information on it is correct. If you don’t have a credit history yet, our salespeople can let you know about your financing options and which choice might be best for you.
The Selection Process
Browsing used cars can be the most exciting part of the buying process. However, while you might have a specific make or model in mind, it’s helpful to keep an open mind as well. You may find a vehicle that’s a great fit for your current lifestyle, such as one that gets good gas mileage for your daily commute. You may want to write down a list of questions to ask our salespeople, as this can help narrow down your choices.
After You Buy
Once you purchase your vehicle, you might have questions about how to maintain it. We can help you create a plan for caring for your car in the long term, from servicing the engine to tire maintenance.
Choosing that perfect vehicle from a wide selection of used cars isn’t always easy for a first-time buyer. However, with a little planning and guidance, you can find a car that’s a perfect fit for your budget and lifestyle.
Buying used cars is a big step in your life and there usually is no point in rushing it. When making such a major purchase, it is a good idea to approach the decision with care. Here are some things that you can do to ensure that you’re ready to buy a car when the time comes.
Know Your Credit Score
Your credit score and history will have a big impact on the type of dealership financing you qualify for, and ultimately the type of car that you get. Keep in mind that it can sometimes take several weeks or months to get errors on your credit report straightened out so do this as soon as you can. Get Pre-approved
Dealerships usually have pretty good financing deals, and you might not have to have outstanding credit to qualify. It is usually a good idea to get pre-approved for a loan before shopping for a car so you know what your limitations are in terms of pricing. This will also give you a good starting off point for negotiations down the line.
Unload Your Current Vehicle
Decide whether you are likely to get a better deal trading your current car to a dealer or selling it through a private sale. There are pros and cons to doing it either way, of course, but it depends on what best fits your plans.
Determine Your Budget
Last but not least, figure out your budget for your new car purchase. You might get pre-approved for an amount much higher than what you are actually able to afford so it is vital that you come up with your own number for how much you can afford to spend on a car.
Buying a car is an exciting process. It can be even more fun when you take the financial steps beforehand to ensure you make a good choice and are mentally and financially prepared for it.
We know you love your car. You’ve spent a lot of time in it. It has gotten you from Point A to Point B, and you probably have some good memories in the driver’s seat. Used cars need TLC. In order to keep your car running smoothly and make sure that it lasts you as long as possible, it is important to keep on top of maintenance.
Understand Your Maintenance Schedule
If you read your owner’s manual you will see that it describes the maintenance schedule for your vehicle. We understand that in your busy day-to-day life, vehicle maintenance may not be at the top of your list – especially if nothing looks or sounds amiss. However, regular maintenance is what keeps things from going amiss! That’s why we recommend using reminders in the calendar app in your phone to keep track of what needs to be done when.
Keep Your Car Clean
This one is easy! Cleaning your car regularly isn’t just a good idea for aesthetic reasons; it can also keep your car running its best. Hose out the undercarriage and wheel wells to clear those areas of mud and dirt. If you live somewhere that it snows, don’t let this practice fall by the wayside in the cold weather. Road salt is bad for cars.
Get Maintenance Done at the Dealership
We’re the experts when it comes to treating your car the way should be treated. When you bring your car to us for maintenance, you can have peace of mind that it is in capable, knowledgeable, and experienced hands. We’re here for your car for the little things you need regularly, like oil changes, and the big repairs too!
Regular maintenance is essential in order to keep used cars in solid working order for as long as possible. Use your smartphone to stay on top of the recommended maintenance schedule, keep your car clean, and bring your car to the dealership to help ensure that you and your car will have a long, happy life together.
If you have your eye on a new or used car, you may have to consider financing options. The problem that a lot of people face is that they don’t have optimal credit and may not think that they qualify. While many lenders offer bad credit car loans, there are still a lot of myths that circle the choice. You shouldn’t let these turn you away from the financing that could get you your dream car. Here are the three top myths when it comes to car loans.
A Low Credit Score Guarantees Rejection
This isn’t true at all. In fact, there are dealers and lenders that specialize in car loans for people with bad credit. Poor credit will not stop you from financing a car.
You Can’t Refinance if You Had a Poor Credit Score
When you’re approved of a car loan with a low credit score, you are given the opportunity to build your credit over again. After a while, as your score builds you will be given more options. It’s common for people to refinance their loan and come up with a cheaper rate after they have built up their credit score.
Income Doesn’t Matter if You Have Bad Credit
Income absolutely matters! Income and the other debts that you owe play a big role in the size of the loan you can be awarded. While lenders do pay attention to your credit, your income also plays a large role in whether or not you’re approved. This can also affect the rates that you’re given.
Don’t allow myths to turn you away from car loans. Even with bad credit there are many options out there. While it can be a difficult choice for many people to decide whether or not they want to look into financing for a vehicle, it’s important not to be deterred by myths. Only the facts should be an influencing factor on your decision.
Everyone likes to get a good deal. When you are offered a low monthly payment on your car loan, that might seem like the best deal of all. In the long run, however, that low monthly payment might actually end up costing you hundreds of dollars more than you intended to pay. In order to understand the true total cost of car loans, you must look at three different factors.
The initial amount you borrow is called the loan principal. The amount of principal you have left at the end of every billing cycle is one half of the equation that determines how much you will pay in interest. To lower the total amount you pay on the entire loan, it is a good idea to start with a lower principal. If you are able to pay 20% of the initial $25,000 cost in a down payment, that is $5,000 of the purchase price that never figures into the interest you are charged.
The other half of the interest equation is the interest rate itself. Bargaining for a lower interest rate can significantly reduce the price you ultimately pay for your next vehicle. A great credit score and other factors, such as dependable income, can lower your risk factors with the lender and thus can result in a lower APR, saving you a great deal of money.
A lower monthly payment might be tempting. When you accept a lower monthly payment, however, you are lengthening the term of your loan, postponing the date when the car will be paid off and costing yourself a lot of money in the process. You will pay significantly less interest with a 2- or 3-year loan term than with a 4-year loan.
When negotiating the terms of car loans, fight the urge to take it easier than your monthly budget can handle. Factor in the amount, rate and term of your loan to get the best deal overall.