Tag Archives: car shopping

obtain financing

Reasons to Obtain Financing Before Buying a Car

This entry was posted in Financing and tagged , , on by .

The best time to shop for auto financing is before you go to the dealership. While many people worry about getting a raw deal on a car, the real damage can come from the financing. Dealers make their money off in-house financing because they mark up the rate you’re offered. 

For example, if you qualify for a loan of 6 percent through a bank, the dealership may offer you 8 percent in financing. And for many car buyers, as long as the payments make sense, they don’t worry about the details. Plus, getting financing through the dealer is often fast and convenient, especially if you haven’t had a chance to shop. 

But since you are reading this article, you’re likely considering the perks to obtaining financing before heading to the dealer. Below we’ll cover the benefits of doing so in more detail, as there’s more to this than just saving money.

Favorable Terms 

Before you walk into a dealer, it’s best to have an idea of what the interest rates and loan terms are based on your credit score, as well as the monthly payments you can afford. This way, if the dealership does offer you financing, you’ll know how it stacks up to what you can get on your own. 

Lower Stress Levels 

Another benefit in obtaining financing before buying a car is that you’ll have lower stress levels when it comes time to sign the paperwork. You’ll feel confident that you’re getting a fair deal, and you’ll be better prepared to negotiate, if you have to. Car salespeople have a history of pressuring people, but being informed prevents this. 

Save Money 

By shopping for financing in advance, you can secure the best loan terms and interest rates based on your credit score. You can apply online to see how much you can borrow and what your payments will look like. It’s also possible to identify potential credit problems ahead of time. For example, if your score is lower than you thought, you can find out what’s causing the problem.

Get Better Rates 

Dealer financing is most convenient, so if you’re already pre-approved for financing, you can use this to get the best rates from the dealer. Believe it or not, dealers have some of the lowest financing rates available. When you come in with a pre-approved loan offer, the dealer must compete with this. If the dealer does beat the rates, make sure that the loan terms don’t change. 

When you shop with RepoFinder, you have access to repossessed cars, trucks and SUVs at great prices! Because these vehicles are being sold by banks and credit unions, you are also in a great position to negotiate the best rates possible. Start your search for a repo car with RepoFinder! 

car salesman

5 Sneaky Car Dealership Tricks to Be Aware Of

This entry was posted in Used Cars and tagged , , , on by .

Even though most car dealers work hard to build long-lasting relationships with their customers, some are still pushy and live up to the stereotypes shown in TV and movies. It’s understandable why car salespeople have to be pushy at times – they’re working off commission. But that doesn’t mean that you have to fall for any of these traps – it’s your money after all! 

Below are some of the most common car dealership tricks to be aware of. If you notice someone trying to pull these tactics on you, you’ll probably want to shop elsewhere. Cars are an investment, and you deserve to make a decision that you’re fully comfortable with. 

1. Bait-and-Switch Trap 

The bait-and-switch trap is one of the oldest in the books. The dealer promotes a great price on a vehicle and features it in an ad to bring in more traffic. When you arrive, however, you’re notified that the vehicle is no longer available. Instead, there’s a different car waiting for you – and it’s priced higher. 

2. Fine Print Details 

Always, always read the fine print. Car ads come with small print that the dealers hope you miss – and many people do. That’s because hidden within the print are disclaimers, stipulations and conditions that will make it nearly impossible for you to get the price that’s featured in the ad. For example, the dealer may require you to have near-perfect credit to get a particular financing offer. 

3. Monthly Payments 

Another common tactic is for a car salesperson to ask you how much you want to spend each month. This question seems innocent enough – your budget makes a difference after all. However, if you say your budget is $400 a month, the dealer can sell you any car and string the payments into a longer loan. 

4. Payment Method 

Car dealers may also ask how you will be paying for the car. Keep quiet, as how you pay makes a difference. For example, if you’re paying with cash or third-party financing, the dealership is likely to bump up the price since they won’t be making money off your loan. If you choose to use their financing department, you can expect to pay more. 

5. Marking Up Interest Rate 

Dealers may also offer sweet deals on the front end and then make up for them by increasing interest rates. They’re able to do this because dealers partner with different financing companies that offer indirect loans. In exchange for the loan, many of the partner banks let dealers mark up the interest rate and keep the difference. So, if a lender approves you for a loan with 6% interest, they might tell you the interest rate is 8% and then keep the 2%. 

When you need a car, your options of where to shop may be limited. If you do choose a dealer, make sure that you don’t fall for any of these sneaky dealership tricks. You can also shop with RepoFinder – we have a huge database of repossessed vehicles for sale. Take your time reading through each listing, ask questions and make an offer. No pushy salespeople involved! 

 

family sitting in car

Best Car Features for Parents

This entry was posted in Used Cars and tagged , , , on by .

Shopping for a car is one thing, but shopping for a family car is a whole different experience. You’re not just taking into consideration your needs but also the needs of your family. In addition, it’s likely that the family vehicle will be used for running errands, taking the kids to sports practice and going on road trips. You need something that’s going to accommodate you for all of these activities!

As you start shopping around for a family minivan or SUV, here are some of the best features parents should look for! 

High Safety Rating 

When it comes to driving around the little ones, safety trumps everything. Look for car models that have five-star safety ratings and perform well in crash tests. Other features that make a family car safe include automatic emergency braking, blind spot monitoring, electronic stability control, and side and curtain airbags. 

Plenty of Space 

No matter the size of your family, plan to have plenty of space in your new vehicle. There will come a day (if not now) that you’ll be driving other kids to soccer practice or school. And you’ll be taking your family vehicle on road trips and other family day trips. Everyone should be able to travel in safety and comfort. We recommend getting a vehicle with multiple rows, with the option to rearrange the interior. 

…And Plenty of Storage 

In addition to leg room and comfy seats, you should also focus on vehicles that offer plenty of storage space. Stow-and-go seating is still popular in many hatchbacks, minivans and SUVs. It allows you to pack away up to two rows of seating beneath the cargo floor. This flat space makes it easy to haul large items like groceries, strollers and bikes. 

Reliable Backup Camera 

Backup cameras are a must these days, and they particularly come in handy in busy parking lots and neighborhoods. Using a screen on your dashboard, you can safely back out of your driveway or parking spot with a clear view. You’ll always know what’s behind you, preventing embarrassing moments and serious accidents. 

Remote Keyless Entry 

Another feature we recommend looking for is remote keyless entry, which lets you open and close doors from the touch of the button. This way, you can open up the doors and load up the kids while you’re still bringing in the groceries. And, if you purchase a minivan, you get sliding doors that won’t scratch nearby cars. 

Built-in Sunshades 

Kids get a lot of sun when riding in the car, and there isn’t any protection for them. Even the car decals usually aren’t large enough to cover the entire window. Look for a family car that comes equipped with built-in sunshades so that you can pull them down when you need them. Plus, they darken the car, making it easier for little ones to nap. 

These are just some of the features we recommend looking for in your new family car. There are plenty of other features you can look for as well, such as built-in vacuum cleaners, bluetooth connectivity and backseat cup holders. To find the perfect vehicle for your family at a price you can afford, shop with RepoFinder today!

SUV for family

The Big Debate: Should You Buy a Minivan or SUV for Your Family?

This entry was posted in Outdoor Vehicles and tagged , , on by .

When you have a big family, you need a vehicle to accommodate everyone to school, sports practices, family outings and more. Obviously, a four-door sedan or mini coupe is out. Your two best options are then a minivan or SUV. 

Both vehicles are capable of having three rows, captain seats and plenty of legroom to keep everyone comfortable on the road. But which one is right for your family and how can you make the best decision? Let’s find out! 

Features that Both Minivans and SUVs Have 

SUVs and minivans have plenty of similar features that make them great picks for hauling cargo and people. Let’s take a look.

  • Interior technology. To cater to families, both SUVs and minivans have tech like rear-seat entertainment systems, surround-view cameras, USB ports and Apple CarPlay/Android Auto. 
  • Safety technology. Since SUVs and minivans are meant to be family-friendly, you can expect them to have plenty of safety features like lane-departure warnings, blind-spot monitoring and collision avoidance. 
  • Fuel efficiency. While minivans are not known for giving the best gas mileage, SUVs are no better. However, minivans are not terrible on gas, and there are plenty of hybrid SUVs and crossover SUVs that match the fuel efficiency of a minivan. 

The Case for Buying a Minivan

The one caveat with minivans is that they give off the ‘soccer mom’ image that many people don’t like. In other words, they’re not cool or trendy like SUVs. However, it’s important to look at things objectively since minivans do have a lot of great features. 

  • Cost. In general, minivans cost less than three-row SUVs.
  • Space. Minivans typically offer more space than three-row SUVs, with about five additional inches of legroom in the third row. This is great for teens and older kids.
  • Accessibility. Sliding doors are a staple of minivans. You can fit into tight spaces and run errands without worrying about doors swinging open or slamming shut. 
  • High-tech features. High-end minivans have things like in-car vacuums, air-cooled seats, second-row lounge chairs and integrated window sunshades.

Now, there are some drawbacks to minivans. Compared to SUVs, they don’t have a whole lot of ground clearance. They’re also not great in extreme weather or off-road conditions. Minivans also don’t have much towing capacity.

The Case for Buying an SUV

Moving onto SUVs, there are plenty of things for families to love about these vehicles. There are many SUV options on the market, making it easy to find a size and layout that you love. Even hybrid and electric options are available! 

Here are some of the top reasons to get an SUV: 

  • Better visibility. SUVs sit taller and have a higher ground clearance, giving you better visibility. 
  • Elevated features. SUVs are focused on the overall cabin experience, which is why they include things like massaging seats, length-adjustable seats and a gauge cluster seat belt indicator. 
  • All-wheel and 4-wheel drive. Because SUVs are available in all-wheel and 4-wheel drive, they can handle rough terrain or stormy weather.  
  • Good towing capacities. If you plan on towing a boat or trailer, an SUV can handle it. Some have towing capacities of up to 9,000 pounds! 

The downside to SUVs are that they are more limited on space, they’re generally less efficient on gas and it’s more difficult to find captain’s seats. 

For many car shoppers, it comes down to features and price. Many are ultimately happy with a minivan or SUV. To shop from a wide selection of affordable SUVs and minivans, visit RepoFinder.com today. 

buying as-is car

What Does it Mean to Buy a Car in As-Is Condition?

When buying a car, you might come across vehicles sold in as-is condition. While the description is pretty obvious – you’re buying a car in the exact condition it’s in – it’s still important to know what this means and what you can expect with your purchase. Most importantly, don’t let buying as-is scare you away. If you’re looking for a great discount on a car, this might be the way to go! 

What Does As-Is Mean in the Car Industry?

You can buy many things in as-is condition – a home, a retail product or a car. All it means is that the item is being sold in its current condition with all issues known and unknown. In other words, if there are problems with the vehicle, the seller is not responsible for them. 

In terms of a vehicle, it’s also important to know that buying as-is means the car likely doesn’t have a warranty. (With newer repo cars, there is a chance the warranty is still intact.) Again, any problems that turn up with the vehicle are not the responsibility of the seller. You’ll have to pay for them out of pocket. 

What’s the Benefit of Buying an As-Is Vehicle? 

Because the buyer is taking a risk, as-is vehicles are discounted. For example, RepoFinder has a huge database of repossessed vehicles being sold by banks, credit unions and other lenders. They are selling their vehicles in as-is condition but for a discount. 

Many of the vehicles they’re selling are in good condition. They might need some basic maintenance, but nothing too elaborate. By purchasing these types of vehicles at a discount, you’ll have enough money to pay for the repairs and maintenance as well as have lower car payments each month. It’s a win-win on both sides! 

What are Some of the Risks of Buying As-Is?

Of course, buying anything as-is always comes with some risk. If you’re unhappy with the car or it ends up having significant problems, you can’t just drive it back to the dealership for a refund. This is why it pays to be a smart shopper. Look at the pictures, ask the seller questions, research the types of problems the particular car has (if any) and inspect the vehicle before signing the paperwork.  

Additionally, when you schedule an inspection, bring along someone who knows cars, whether it’s a mechanic or a knowledgeable friend. They’ll know some of the obvious things to look for. Once you’ve done your research, you can place a comfortable bid that will get you the car you want at a fair price. 

Shop for As-Is Vehicles Today 

RepoFinder makes it easy to shop for as-is vehicles. Browse our website for cars in your area that are being sold by credit unions and banks. They’re motivated sellers who are often willing to negotiate the best prices! 

girl driving old car

8 Signs it’s Time to Buy a New Car

From technology to car repairs, how do you know when it’s time to buy a new vehicle? You may not be ready to make the investment, but you also don’t want to wait until your car is no longer functional. By starting your search early, you can take your time looking for vehicles that fit your needs and budget. 

Below are eight signs that it’s time to buy a new or used car from the banks or your local dealer. 

1. Major repairs are wearing you thin. 

The cost of repairs depends on the damage that has been done to the vehicle. Sometimes, the repairs are worth more than what the car costs. If you’re constantly having to put money into your vehicle and it’s not worth anything, it’s time to cut your losses and invest in something reliable. 

2. Your car is becoming a money pit. 

When your car constantly requires repairs and maintenance, it becomes a money pit. Imagine the time and money you’ll save by not having to bring your car back and forth to the auto shop. Unfortunately, once a car experiences frequent repairs, they generally don’t stop. 

3. It’s lacking the latest technology. 

Your car may be outdated compared to the new cars of the generation, but is this really a reason to upgrade? It could be. While your car doesn’t need all the bells and whistles to be safe and functional, it should have certain technology to keep you and others safe. Nowadays, many cars are equipped with backup cameras, lane assist, collision detection and more. 

4. Your car is far behind on safety. 

You should always feel safe in your car. While having the latest technology is helpful, your car should also have good safety ratings. Check the National Highway Traffic Safety Administration (NHTSA) database for your vehicle’s safety rating as well as the Insurance Institute for Highway Safety. Also stay on top of recalls and check your car’s lights, wipers and brakes. 

5. Duct tape is your vehicle’s fashion accessory. 

Some people drive around with their cars taped up because they can’t afford their deductibles. Not only is this an eyesore but also it can compromise your vehicle’s safety. Rather than driving around a near broken vehicle, swap it for something that’s safe, reliable and affordable – RepoFinder can fill all three! 

6. You’re embarrassed by your car. 

If you park in the back so that people don’t see what you drive, it’s probably time for something new. Here at RepoFinder, we don’t believe you need to drive around brand new cars to get noticed but you should have something that you’re not embarrassed of. Why pay for something you hate? 

7. Your car no longer fits your needs. 

As your life changes, your car needs do, too. A growing family requires a spacious SUV or minivan while a pair of empty nesters can get by on a fuel-efficient sedan. If your car no longer accommodates your lifestyle, it’s time to go shopping for something more practical. 

8. Your car has trouble starting.

If you do the happy dance when your car starts, it’s only a matter of time before it doesn’t. Who wants to be stranded or late for work because of an undependable car? Being proactive prevents this from happening and also ensures you’re not pressured to buy something the day your vehicle dies. 

Overall, these are some of the most important factors that influence when you should buy a new car. Although these signs might appear to be nuisances, they can actually put you and other drivers at risk. To shop for affordable bank-owned vehicles, browse the inventory from RepoFinder.com today. 

christmas presents

The Right Way to Buy a Car as a Christmas Present

Are you thinking about buying someone a car as a Christmas present? While this may seem like an exorbitant gift, it can actually be a practical one. If your teenager, college student or spouse needs a new car, why not use your money on an essential gift? But before you buy someone a car as a holiday gift, make sure you follow these essential tips. 

Avoid Surprising Your Recipient 

The thought of surprising someone with a new vehicle is exciting, especially when you see the great response on TV commercials. However, in real life, you probably don’t want to surprise someone with a new car out of the blue. If they don’t like it, they can’t return it like they can a pair of jeans. 

The best approach: find out exactly what this special someone wants rather than springing a new car purchase on them unexpectedly. 

Consider Financing Options

Unless you have the cash on hand to pay for the vehicle, you’ll have to finance this purchase. Keep this in mind, as average term lengths are 69 months for new vehicles and 65 months for used vehicles. You don’t want to be paying for years on a car that your spouse doesn’t want or need. 

Additionally, you may need your spouse to cosign in order to be approved for the auto loan. So, you may not be able to surprise them unexpectedly after all. For the best deals and rates, consider shopping for repossessed vehicles instead of used vehicles. You can find a cheap car this way and qualify for attractive financing offers.

Start Shopping in Advance 

In order to find the right vehicle at the right price, it’s best to start your holiday shopping early. RepoFinder.com has a huge inventory of repossessed cars, trucks, SUVs, ATVs, RVs and more. You can find just about anything with us! 

Our repo inventory is always changing, so check back often to see what we have available in your local area. If you find something you like, you can place your bid and hopefully take the vehicle home with you! However you choose to shop, start early so that you can get the best deals and availability. 

Shop for Repo Cars at RepoFinder – We Have it All! 

RepoFinder.com offers the largest list of bank repos in America. When you work with us, you’ll be able to skip over the middleman and deal directly with the banks, lenders and credit unions. This allows you to get the best deals on all types of repossessed vehicles. Many are in great condition and waiting for a new owner. Shop with us today and give your loved one the best gift of all – a safe, dependable vehicle. 

shipping a car

How Much Does it Cost to Ship a Car?

People use the internet to shop for all types of purchases – including cars! But what happens when you find a vehicle that you love and it’s out of state? You’ll have to ship it to your home. 

Shopping online for cars is practical and convenient, especially during a pandemic. It also opens you up to a wider variety of vehicles, which is helpful if you have a limited budget or are looking for something specific. 

RepoFinder.com has a huge inventory of repossessed cars, trucks, SUVs and recreational vehicles. You can easily shop for repos in your area, but it’s also possible that you’ll find your dream car in another state. If this is the case, here’s everything you need to know about shipping a car to your home. 

Find a Car Shipping Service 

The first step is to find a service that ships cars to your location. A few examples include AmeriFreight, Bargain Auto Transport and Easy Auto Ship. Each one is slightly different and offers various pros and cons, so do your homework and request a few quotes. You can then determine the best fit for your needs and budget. 

Choose Your Delivery Plan 

Once you’ve chosen a delivery service, plan for when to have your car delivered. Many auto delivery services have various plans to choose from based on when you need the car delivered. As long as you give enough notice, you should be able to plan the day your vehicle arrives. 

Most carriers will offer door-to-door or terminal-to-terminal shipping. With door-to-door shipping, your vehicle is delivered curbside. This is the most convenient option for many buyers, though it is more expensive. With terminal-to-terminal shipping, both you and the seller will have to do some extra driving, but it’s cheaper. 

Your shipping carrier should also have adequate insurance in case anything happens. And they should be able to handle most things for you – it’s not your job to manage the logistics. The good news is that buying a used or repo vehicle means you can go with an open transport which is cheaper. 

Signing for Delivery

When your repo arrives at the destination, look it over before signing anything. Take your time with this step, as this is your only opportunity to note damages or discrepancies with the car. If anything is amiss, note it on the bill of lading. This way, you can take it up with the seller later. Once the paperwork is signed, you get the keys to your new car! 

What’s the Cost for Shipping a Car? 

Shipping a car to another state costs an average of $500 to $1,500 depending on the distance of the delivery, the type and size of the vehicle, how the vehicle will be shipped and other factors. To save money, opt for open transport, be flexible with delivery times and have your repo shipped to a terminal. 

To start browsing for repossessed vehicles that fit your needs and budget, visit RepoFinder.com today. If you can’t find what you like in your location, it may be possible to ship a car your way! 

online car shopping

Coronavirus and Cars: Here’s What You Need to Know

It’s clear that coronavirus isn’t going away any time soon, so if you’re in the market for a new vehicle, you’ll have to take this into consideration. As long as you are secure in your job and can afford a new payment, now is a great time to purchase a vehicle. Used cars are most popular because they’re cheaper than new cars, which leads to smaller, more affordable loans that are less likely to put you underwater. 

Here’s everything you need to know about coronavirus and car shopping in 2020. 

Coronavirus and Car Interest Rates 

Auto loan interest rates are low right now to encourage lending, boost consumer spending and support the economy. How low? The Federal Reserve made moves back in March to reduce interest rates to zero. 

You typically won’t find 0% interest on a used car, but interest rates are still low. Plus, car shoppers are showing that they’re not afraid to take on longer loans as long as they can afford the payments and get the vehicle they want. In 2019, the average term length was 69 months for new cars and 65 months for used cars. 

Coronavirus and Car Shortages 

You can expect some shortages of vehicles sold in America due to supply chain disruptions and plant closures. This hasn’t been a significant problem because people are spending less time in the showrooms, leading to a decreased demand for vehicles. But for those looking for specific features, there may be more limited options. 

Full-size pickup trucks have remained strong during the pandemic. This is why you can expect fewer incentives and price drops on these vehicles as they’re in demand and people are willing to pay for them. Of course, you can always check out repossessed pickup trucks for a great deal! 

Coronavirus and Car Shopping 

There are many ways to protect yourself from the coronavirus when shopping for a used vehicle. Thankfully you can do most things on the internet. And if you shop with an online car site like RepoFinder.com, you can complete the whole process online! We have a large inventory of repossessed cars, trucks and SUVs available to the public. 

If you do see a car in person, be sure to disinfect the parts of the vehicle you’ll be touching, don’t touch your face, wash your hands after and don’t shake on the deal. Also take care of financing in advance so that you spend less time signing papers. 

Because all vehicles listed on RepoFinder.com are repossessions, you can apply for financing in advance. These vehicles are being sold by banks and credit unions that are also more willing to work with you on attractive financing. They are motivated sellers after all!  

If you’re looking for an affordable used car that you can purchase online, visit RepoFinder.com today!