Everyone wants a brand-new car, however, in reality, not everyone can afford to buy a brand-new car which is why a lot of people use other options such as applying for an auto-loan where they can ask for financing from a bank or a financial institution to help them acquire a new car considering that they do not have the funds to fully pay the cost of a new car.
However, to be more realistic, purchasing a new car, particularly a brand-new nowadays is not that practical anymore, if you could see, more and more consumers are turning their attention to buying used cars, and to gain more advantage, they apply for an auto-loan so that they can purchase a used car that is relatively cheaper than a brand new using different financing options from banks and financial institutions.
If you are not a car owner, just a statistic from 2016, the United States sets a record of 17.6 million cars and trucks that were sold according to automotive experts.
Commuting daily from your house to work is time-consuming, costly, and takes a lot of effort and maybe it would be the perfect time for you to decide and get your own car.
There is nothing to be ashamed of when buying a used car, in fact, people who earn in the mid-level and even those who are in the higher level prefer to buy a used car than a brand new car for various reasons. The number of used cars in the entire United States makes up a huge percentage of it in the auto sales market.
In 2015, A total of 38 million used cars were sold in the United States, a strong testament that a large portion of Americans prefers used cars than brand-new ones, and these numbers increased to six percent over the total number that was sold a year before. Also, the majority of these used vehicles that were sold were from auto loan debts. The United States consistently drives up its debt load because of cars, in fact, there are more than a hundred million people are having auto loans which make up a total of nine percent in total debt or a total of $5.6 billion.
Maybe it is time for you to buy a car, you can visit your preferred bank, your financial institution, or even the dealership themselves to ask how to apply for an auto loan and get a prequalified car loans. Usually, auto loan debt is very flexible and reasonable knowing that buying a car is part of many people’s necessity.
Usually, auto loans will help you acquire the car that you wanted to buy while there are some leasing companies that offer help to speed up your payment from your auto loan debt as fast and as convenient as it can be by giving you a debt roadmap for a better assessment in your current financial situation to come up with a sound financial plan for your plan to buy a used car.
Also, there are companies out there that will also offer not just financing and leasing, but also advising to help you avoid creating bad deals when you apply for a used and new car loans.