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Tips for Financing a Used Car 

There are a lot of factors to consider when financing a vehicle, and it can feel somewhat trickier when you’re buying used. Here are some tips for getting the best deal on a used model. Find out more or shop our used inventory today at Copeland Chevrolet Brockton, Massachusetts.
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Used Traverse - Brockton, MA

Know Your Budget

When you’re shopping for a vehicle, you have to take into account not just the monthly payment but also insurance costs, registration fees, maintenance costs, and how much of your savings you can apply towards a down payment. However, purchasing a certified pre-owned model may alleviate some service expenses in exchange for a slightly higher price tag.

    Know Your Credit Score

    Knowing and understanding your credit score is key to getting the best loan possible. Your credit score is made up of several factors, including the amount of debt you have and whether you make monthly payments on time. Doing small things like catching up on bills you’re behind on can help boost your score and get you a better deal.

      Look for Financing Options

      While you can secure financing through an independent source, getting a loan directly through a dealership or securing one negotiated by the dealership through a trusted partner are the simplest options, and they may come with special deals you won’t find elsewhere. It’s worth keeping in mind that a dealership is more likely to get you a stellar deal on a loan, even if you have less-than-ideal credit.

        Negotiate

        When you’ve picked a vehicle, do your research. Often the price of a used car is marked up from its actual worth, so check Kelley Blue Book or a similar source to determine the true value of the year, make, and model of the vehicle you’re interested in buying. Don’t buy a car that costs more than it’s worth as it’s difficult to refinance and resell it in that case, and you’ll end up taking a loss.
          The expert staff at Copeland Chevrolet is always ready to help you understand the financing process and get you a great deal on the used car of your dreams. Visit us in person or online to learn more.

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