Buying a barely used car has some upsides like your buying a vehicle that doesn’t have ton of wear and tear for a much more reasonable price.
Usually used car prices go down after a year or so that the model came out. At times if you buy right the warranty is still on the car and you can ride it out.
Why a used car in Washington is a good idea
There are many perks of buying a used car in Washington DC over a new car and you will still be able to afford the luxury vehicle.
All cars depreciate 15% – 25% each year for the first 5 years. Used cars are cheaper than new cars as time passes.
One huge benefit of buying a used car in Washington DC is the lower interest rates; you can even opt in to a short term for the car loan.
Really when buying used you want to shop the interest rates and see what the used car dealership will do for you. The car dealer might be able to over you no money down on a used car in Washington DC.
You want to make sure your working with the best car dealers in the Washington DC area when look at used cars.
Getting pre-qualified on the web isn’t a bad idea either because than you will be able to go into the car dealership with some buying power.
You want to know your financing options right now so there are no hidden pop ups that can happen with any car.
Talking to the car dealership is a good step but you will also want to talk to local banks and credit unions to see what they are able to do with your interest rate.
What some used car lenders require in Washington DC
Some auto lenders may require you to have a cosigner for the used car if your credit isn’t in the shape they like.
If your credit score is above a 690 you should be in good shape, if not you may want to work on paying some of your debt down for a used car.