Is It Better To Buy or Finance a Used Car?

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Buying Vs. Financing a Used Car

Shopping for a newer and more reliable used car that can offer you all the qualities you’re looking for on the road can be an exciting experience. There are many reasons to buy a newer used car, SUV or pickup truck, including getting the latest high-tech features, innovative safety technologies and a vehicle with fewer kilometres on it. There are many steps to the used car buying process with some being more important than others. One of the biggest questions you’ll have to ask and figure out for yourself is whether you should be buying or financing the used car you want. Well, you’re in luck! Here, you’ll find all the answers you need to determine if it is better for you to buy or finance the used car you want to buy. View all the benefits of buying and financing a used car, below, to determine which is right for you.

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Benefits of Buying a Used Car

The following information will help you decide if buying a used car is the right choice for you by offering a list of benefits that come along with it.

  • You will not have a monthly car payment.
  • Helps keep you from buying a used car you can’t afford.
  • It’s possible to get a better deal when negotiating the purchase.
  • You’ll save money by not having to pay any interest that is associated with a car loan.

Benefits of Financing a Used Car

Learn more about if financing a used car is the best option for you by reviewing some of the benefits associated with financing a car.

  • You can keep more of your money in the bank.
  • Financing a used car can help increase your credit score.
  • You can choose how much you want to use for a down payment.
  • You’ll have a smaller monthly payment instead of having to pay one large sum.

When you’re ready to start shopping for your next used car, SUV or pickup truck, we hope you consider shopping at Terra Nova GMC Buick. We encourage you to visit or contact one of our finance experts, today, to ask any questions you may still have about buying versus financing a used vehicle. We hope to hear from you soon!

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