Buying A Used Car With A Bad Credit Car Loan
There are a few things to keep in mind when buying a used car with bad credit car loans. It is always wiser to know exactly what you are looking to buy before visiting a dealership. I say this just to help you avoid buying a used car you may regret later on. Knowing what features and functionality you require, from the seating capacity to the fuel economy of a used car. For starters, this will narrow down the choices that could be presented to you, allowing you to stay in control when dealing with a car salesperson. Having an idea of what the market value is for the specific used car you are looking to buy is always a good idea.
Used cars have to pass a safety report before it can be sold by a dealer to the public. You should always ask to see the Carfax or Carproof to confirm the used cars‘ history. One of the things the report will reveal is how many previous owners the vehicle has had. Along with one of these reports, you should also ask to see a safety report. This report is conducted by the selling dealer, and It is government standard that used cars must pass a safety report prior to resale. This report will also show what type of work if any was done by the selling dealer example, oil change, tire rotation or any minor or major part replacements. In addition, this report will reveal to you the condition of each operating part of the used car.
Buying Used Cars In BC
Here are the four major questions you want to ask in buying used cars in BC
1) Does the vehicle have any reported declaration. In other words, has the vehicle been in an accident and if so, you want to know how big the damage was. The amount reported for repairs will help determine if it’s a structural damage or not. How many times the vehicle has been in an accident and again you will see the cost of repairs to see the severity of each accident. Sometimes the declaration report from the Insurance Corporation of British Columbia ( ICBC) will show a declaration but no details. This means ICBC was informed of damages but there was no claims made to the insurance company.
2) Is the vehicle an out of province – did the vehicle come from back east or is it a local vehicle. Due to the snow and salt factor for example, local used cars are always preferred. This is important to know because sometimes the damage from excessive exposure to salt for example is not always visible.
3) Is it an ex lease or an ex rental – people are interested to know this because of the wear and tear factor. Obviously, used cars from a private owner will suggest less wear and tear than an ex rental or ex lease.
4) Is the used car a rebuild – this is always something you should check if you are a cash buyer. I say cash because a rebuild does not typically qualify for financing and since this information must be disclosed to the lending institutions, this is likely a cash purchase and you should be vigilant if you are a cash buyer.
Used Cars BC
Once you have chosen a used car to purchase, you should find out exactly what the manufacturer’s warranty is on that particular make, year and model. Manufacturer’s warranty usually vary in terms for coverage and this information is easy to find on the internet. This could avoid you signing up for extended warranty that you may not need or the reverse and make you aware of your need for extended warranty. Always find out when the next scheduled maintenance service is so you can continue on with preserving your investment.
My name is Joanne and I’m an Auto Credit Specialist. thank you for stopping by. I hope this information I provided helps you in some way when buying used cars with bad credit. Feel free to leave me your email in the subscribe section to get useful information pertaining to automotive loans. Fill out our application form now to qualify for a free consultation.