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Used Auto Loans vs. New Auto Loans

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Although many people think quality auto loan financing is strictly reserved for new car buyers, it is far from the truth. You can get a car loan for a used automobile just as easy as for a new car. Also, individuals buying a used vehicle have many of the same loan options available to them as people buying a new automobile! The loan process is essentially the same whether you are looking for a new or used car. Research both and get connected with one of the lenders or dealers in our network through CarLoanMarket.com!

Many people don’t know that there are significant advantages to buying a used car, not the least of which is the price difference between a new automobile and a previously owned vehicle. You can thank depreciation for the drastic price differences. The instant you drive a car off a dealership lot, it loses approximately 15% of its initial value! In addition, the majority of a new automobile’s depreciation occurs during the first two years. That’s not money well spent. A new car is really a poor investment. By buying a used car, you get considerably more value for your money, considering that someone else already paid for the depreciation of that vehicle.

The Internet is invaluable: it provides you with an assortment of tools to aid you in making a wise purchase. There is no reason to feel overwhelmed when looking for a quality used car loan. To start, make a budget for yourself. Knowing what you can reasonably afford each month is key. From here, the first step is to decide exactly what kind of automobile you want to buy. Once you have the kind of automobile you wish to purchase in mind, research prices. And remember, what is so great about buying a used car is you usually end up getting “more car for your money”!

After you have determined the type of car you want, how much you can reasonably afford, and the cost of the car you want, you can find out how much you’ll be paying in interest on your loan. Auto Loan Calculators make calculations easy. Simple enter the expected price of your automobile, your desired car loan length, and your expected interest rate. The Auto Loan Calculator will provide a close estimation of your expected monthly auto loan payment.

Finally, after you’ve determined the price you can afford, the car type, and what your potential monthly payments will be, you can use the Internet to apply for an auto loan through a Consumer Connection company like CarLoanMarket.com. Working with us is safe, easy, and secure—all it takes is a few minutes to complete a simple online credit application and be on your way to getting connected with one of our lender or dealer affiliates who can help you even if your credit is not where you would like it to be.

Buying used or buying new… CarLoanMarket.com is the place to start. Check us today for your FREE, No Obligation auto loan options from our lender or dealer affiliate!

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05/09/2015

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