Is it a good idea to finance a used car?

September 16, 2014  

auto financing in CottlevilleAfter you have carefully browsed the available selection of used vehicles, test driven a few to try them out, determine the features you must have at a price you can afford, you must next decide how to pay for your “new” used car. There are distinct advantages to both paying for your auto in full and financing your purchase. 5 Star Auto Plaza has a large inventory from which to choose and provides auto financing in Cottleville for customers with all credit types.

While there is definitely an appeal to buying a vehicle with cash, it may not always be practical or within your budget to do so. Buying a used auto is beneficial in that the original owner takes the depreciation factor instead of you. With a larger down payment, this can help to reduce the length and scope of your loan, however this is not always an option for all customers.

For insurance purposes, there are also two sides to consider. Buying a used car outright can allow you to purchase only liability insurance, if you so desire. This is the minimum requirement for vehicle insurance. If you finance the cost of your used car, comprehensive insurance is mandatory, since you do not technically own the car until it is paid off. This can cost a great deal more and should be factored into your budget beforehand.

The experienced finance team at 5 Star Auto Plaza can help. We are highly skilled in all things auto finance and can make sure to help select the loan that is best suited for each individuals budget and credit standing. We offer quality service and will help make your used car buying experience a breeze.

To discuss auto financing in Cottleville with the used car professionals at 5 Star Auto Plaza, call us at (636) 940-7600.

5Star auto plaza Review

5 Star Auto Plaza

5 Star Auto Plaza Review

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    Review Your DealerThey did me a great deal by working with  me on my trade in. I got into something I actually wanted and didn’t break the bank. Read More
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    Review Your Dealer5 Star Auto Plaza even won my husband over with their sales techniques. There was no high pressure tactics or belittling us. I was also impressed with all the clean cars and their selection. I would go back without hesitation. Read More
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    Review Your DealerI made an appointment at 5 Star Auto Plaza. They showed me the car and gave me a test drive. They were  very friendly, courteous, and didn’t try to hard sell me. The car sold itself, yet they made the experience easy. Read More
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    Review Your DealerI found the gentlemen  I dealt with at 5 Start Auto Plaza quite respectful and seemed to really have my best interest at heart . My salesman really worked with me on picking out the perfect car for me. I appreciated the personalized approach he offered. Read More
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    Review Your DealerDidn’t have to go through a big deal on getting a deal. I told them what I thought the car was worth and they worked with me to get me there. Read More
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    Review Your DealerI  wanted a new car for myself so I started checking out some cars online. I found a Lexus LS430 and decided it was the perfect car for me, I just needed to find the right priced one. I found one at 5 Star Auto Plaza, they worked within my budget and I got the car [...] Read More
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    Review Your DealerThey gave me a great price on my trade in and the overall price was very fair according to blue book. I am more than pleased with how the service was here. Read More
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    Review Your DealerFriendly faces and attitudes made all the difference for me from past experiences. They even detailed my suv upon delivery. Great experience. Read More
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    Review Your DealerLast summer I purchased a F150  from these guys.  After looking at several local dealerships, I found 5 Star Auto Plaza had the best prices, they had honest sales people and a great selection.  My truck is a great, it runs perfectly and it we absolutely love it!   Read More
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    Review Your DealerRecently after filing for a bankruptcy, our SUV broke down so we need a new family car.  We were really concerned after being turned down by another local auto dealer and our bank for a car loan due to our lack of credit after the bankruptcy.  We were truly elated to find 5 Star Auto [...] Read More
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