Buying a Used Car Without Cash

Video Transcript

"Hi, this is John Michaels with Expert Village; today we are going to be talking about how to buy a used car. In this segment we are going to talk financing a used car. There are many creative ways of financing a used car, don’t think of just the dealership is able to offer you financing for your used car. Keep in mind, the banks that you bank at on a daily basis have great rates on used cars, don’t be afraid to stop in and visit your local bank branch and see what kind of rates they have on a used car. Also there are some great online banks that you can just jump online and in a short amount of time be pre-approved to purchase a car. They will send you a check that you can take to your dealership or any other local party, fill it out right there on the spot and they will handle the financial transaction for you so remember there are many other creative ways of financing a used car, you don’t just have to go to the dealership to finance that car. So look around and don’t be shy to fill out some information online to make sure that you get yourself the best interest rate for a used car that you can get. Keep in mind that buying a used car is not like buying a used car when it comes to financing. Your terms are usually shorter and your interest rates are usually higher so do yourself a favor and spend some time looking around for the best finance rate you can find yourself for a used car. "