Financed second-hand cars: all you need to know
You’ve decided to buy a new car. You want it to be a bargain to make it fit your budget. But you also want to pay for it little by little, comfortably and without the purchase disrupting your family’s economy. The best option is to finance it!
Second-hand financed cars are a fantastic opportunity to have that car you need, or the one you have always dreamed of driving but cannot buy if it is new. Read on because we tell you everything you need to know about financed used cars.
65% of buyers want to finance
The Motor Observatory of the company specializing in consumer credit Telemeter indicates that 65% of people who intend to buy a car in the short term will finance the operation.
And almost half of the buyers prefer the conditions offered by the dealership where they are going to make the purchase. This figure indicates that financed second-hand cars will be the protagonists of the market in the coming years.
Advantages of financing your used car
The main advantage of financing your second-hand car is the economic savings. The discount on the cash price of the vehicle ranges from 1,000 to 2,000 euros, depending on the model.
This is one of the reasons why financed second-hand cars are booming in the motor market. In addition to the savings, financing also allows us to make a more comfortable payment, without having to disrupt the family economy with excessive expenditure.
This is especially important when we have to buy a car out of necessity: either because the one we had has broken down, or because we need more space as the family is going to expand, or simply because we have other driving needs.
But for financing to be truly effective, we must ensure that what we are going to pay is within our budget and gives us security.
Dealer financing
The financing options for a second-hand car are many. Usually we can go to our bank of confidence, or any other financial institution. We can also do it with the same dealership where we are going to buy the car. This is the option that more and more buyers are choosing when it comes to financing their used car.
The advantages of choosing the financing offered by the dealership can be summarised in three: flexibility, adaptability and savings. The dealer will offer you more options and payment formulas than the financial entity, and will adapt better to your needs.
The financing is much more flexible and more personalised solutions can be found. You should also bear in mind that the process of studying and accepting the operation is quicker, preventing you from wasting time on waiting and negotiations.
Normally, dealer financing will allow you to have lower and more convenient installments, depending on each individual case.
In World Cars we offer you a tailor-made financing for your used car, always looking for the best payment convenience for you. Our specialists study each case in a personalized way to find the formula that best suits your needs.