http://www.jacobslifeinvegas.com Buying a used car in Las Vegas
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This part of buying a used car in Las Vegas is definitely tied to having a good credit score vs bad credit score. When I was getting ready to buy a vehicle from a used car lot in Las Vegas I was not sure how I was going to finance the auto loan. In the past I had either bought used cars with cash or one time I did have a car note through a credit union.
I had heard that financing a car loan through a dealership was the best way to go, but I wanted to do some research and shop around before I decided to buy a used car. I looked at the dealership, my local bank, and a local credit union all here in Las Vegas before I decided on financing.
The dealership gave me their interest rate first. After that I went to a branch at my bank to see if they could offer a better interest rate than the dealer. It turned out that my bank could not offer a better interest rate than the dealer unless I wanted to borrow more money to buy a car. No thanks!
After visiting my bank, I decided to visit a credit union also. The credit union was able to offer me a better rate than my bank, but the credit union was going to have a tough time beating the interest rate that I could get through financing at a dealership. The credit union was able to match the interest rate from the dealer, but I would have needed a bigger down payment on the car in order to achieve a certain loan to value ratio, and I would have had to choose the shortest repayment plan that the credit union offered. That was the only way the credit union could match the interest rate to finance the car that the dealership offered me.
In the end I decided that if I was going to be buying a used car in Las Vegas that I was better off financing the vehicle purchase through the dealer. The advantage that the dealership has over an individual bank or a credit union is that the dealership can shop around for interest rates from multiple banks and lending institutions. Since the dealership has more access to shop and compare rates for the potential customer they are usually able to work out the lowest interest rate.
I’m happy with the interest rate I was able to get from the dealer to finance my car loan. However, I’m also glad that I chose to shop around at a bank and a credit union to see if there was a better auto loan option open to me than just going with what the dealership was offering. Financing the car purchase ended up being a fairly painless process in buying a used car in Las Vegas.
How do you guys choose to finance your car purchase? Do you finance through a bank? Do you get car note from a credit union? Do you just get your auto loan through the dealership? Or do you only buy with cash? Please share in the comments!
Buying a used car in Las Vegas: Financing auto loan-dealership, bank or credit union?
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Buying a used car in Las Vegas: Having good vs bad credit score
Learn How to Buy a Car at the Lowest Interest Rate and Price. https://CreditCEO.com/ Buying a car at the best rate and price is critical. Watch this before you buy or finance a car.
Okay, so it’s time for you or a loved one to Buy a Car, but you want to get the lowest possible interest rate on the financing and also get the lowest price from the car dealership, right? If you said yes, then this is the Video for YOU.
My name is Jesse Rodriguez and I’m a Credit Expert with CreditCEO, I’ve been helping consumers improve their credit, get out of debt and make savvy buying decisions for over 11 years now. One of the toughest decisions is buying a car. So I wanted to make this video – to help you through your car buying process.
First off, I don’t recommend buying a new car unless you own a For Profit Corporation and you can have the company pay for the vehicle pre-tax. Let someone else take the initial loss when they drive the car off the lot for the first time. Here are the steps to Buy a car at the lowest price and interest rate:
1. Check your 3-bureau credit report and scores:
Option 1 (not FICO scores) – http://bitly.com/CheckMyCredit
Option 2 (FICO Scores) – http://www.myfico.com/Products/FICO-Score-3B-Report/
2. Find out which Credit Bureau is giving you the highest Credit Scores
Equifax, Experian or Transunion?
3. Search Credit Unions in Your Local Area.
I am in Seattle and I LOVE BECU, Seattle Met Credit Union and Verity Credit Union.
If you are a member of the armed forces, a veteran or you live with someone that is, I HIGHLY recommend you get a Navy Federal Credit Union. They will give you great rates, even if you don’t have the best credit.
4. Cross Reference Which Credit Unions Look at Which Credit Score: http://bitly.com/CreditPulls
5. Pick out the Credit Union that ONLY Checks the Credit Score that is the highest for you.
6. Start the Auto Loan Application Process
7. Approved or Denied? Approved = Move forward! Denied = Schedule a consultation with Jesse: https://CreditCEO.com/
8. Buy your car from a wholesale Auto Broker or a Private Party Seller, NOT a Dealership.
9. Enjoy your GREAT Investment!
You can get the same car, with 10,000 miles for a lot less. So put your pride aside when you decide to buy a car. If you want the lowest interest rate and price, you need to buy a used car and DO NOT go to a dealership. Deslerships have insane markups on their cars and have been known to be unreasonable – especially with female buyers. I recommend you buy your car wholesale and finance the car through a credit union. This way, you will have instant equity in the vehicle and have the lowest payments.
Check out our student, who was able to finance a used BMW at 3% interest. The car is worth ,000 but she only paid ,500 using our car buying tips! Video: https://youtu.be/sShmvZ03s5Q
So before you buy a car, watch this video to get the lowest interest rate auto loan and the best price on the vehicle.