Used Car Loan FAQs
Securing a used car loan at competitive rates might seem impossible in this day and age. Casey Auto Group keeps it simple, helping you find the perfect financing option for your needs and allowing you to drive away in your ideal used car smoothly. Whether you’re in the market for a family-friendly SUV, a rugged truck, or a fun and potent sports car, we have an extensive selection to ensure you find the right match. Here are some of the most frequently asked questions our dealers receive about financing used cars.
How Do I Apply For A Used Car Loan?
You can begin your application on our website by filling out our finance application. To start the process, provide basic information like your name, phone number, and email address.
What Kind Of Interest Rates Should I Expect?
The interest rates for used car loans vary based on your credit profile, including your credit score, the size of your down payment, and the term of your loan. We strive to offer competitive rates to make your purchase more affordable.
What Credit Score Is Necessary To Qualify For Financing?
While your credit score is crucial in determining your financing options, our finance center has financing solutions for various credit situations. We encourage all customers to apply, as we frequently have options for diverse credit scores.
Is A Down Payment Required?
A down payment is not always required to finance a used car with us. We offer several flexible financing plans tailored to meet your budgetary needs. However, placing a down payment can be beneficial as it may reduce your monthly payments and the total interest paid over the life of the loan. Estimate your car trade-in value to see how much more you can pad your down payment.
How Do I Keep Used Car Payments Within My Budget?
The best way we know is using the 20/4/10 rule. That means leaving 20% down, choosing a four-year loan term (shorter is fine), and limiting car expenses to ten percent of your income. A car payment calculator can help with this.
Find Your Next Pre-Owned Vehicle with Casey Auto Group
The Casey family of dealerships prioritizes transparency and clear communication to keep used car buying as simple as it is affordable. Stop by Casey Auto Group near Newport News, VA, to explore our selection of used cars and discuss your financing options. We ensure you find the perfect vehicle with a financing plan that fits your budget. Visit us today!