Vinart Blog » financing used cars

About the Kelley Blue Book Price

jcme — Fri, 20 Nov 2009 10:05:28 +0000

If you have ever shopped for a used car or sold your used car, you are probably familiar with the “book value” of the vehicle. The “book value” refers to the price listed in the Kelley Blue Book, the most respected and used pricing book for used cars in the auto industry. But how much do you actually know about the KBB and its prices? Here is some information that can help you when it comes to getting a good price on financing your next used car.

• The Kelley Blue Book is simply the “suggested” retail price. That means there is some flexibility in the price to take into consideration the circumstances and actual condition of the vehicle.
• The Kelley Blue Book prices are typically higher than the prices that dealers are getting for used cars.
• There is usually a difference between the book’s “asking price” and the actual price that dealers are getting for a certain used car.
• The KBB price is more of a starting point for negotiations when it comes to buying used cars, either privately or at a dealership.
• Remember that the higher listing price may also work in your favor if you have a trade-in when financing your next used car.

Three Ways to Improve Credit Scores for Used Car Financing

jcme — Fri, 27 Mar 2009 10:05:38 +0000

If you’re looking for a great deal on used cars, one of the best ways to save money on your purchase is to have a respectable credit score. A good credit score will get you a lower interest rate which can save you thousands of dollars over the course of your financing. Here are three ways you can improve your credit score before heading to your used car dealer.

1. Get a copy of your credit report. You can legally get one free copy of your report each year by going online to one of the many websites that offer it. You’d be surprised how often mistakes are posted to your credit report that can bring down your score significantly. By asking the creditors to make the necessary changes, you can improve your credit score.

2. Pay off some debt. If you have old debts, you might be able to settle them for half of what you actually owe with a simple phone call to the creditor. The more you can pay off, the better your score will be.

3. Keep old accounts open. Many people think closing their credit accounts will improve their score. However, part of your score is based on the length of time you’ve had credit. By keeping your oldest accounts open and in good standing, you can boost your credit score for financing a used car.

Use these tips and getting a decent interest rate at your used car dealer should be rather simple.

Three Ways to Save for a Down Payment for a Used Car

jcme — Mon, 16 Mar 2009 10:05:07 +0000

A used car is just like other major purchases: They often require a down payment. But there’s no reason to fret about that because saving a down payment is easy if you are dedicated and are willing to make a couple changes. Here are three easy ways to save a down payment to get one of the quality used cars of your dreams.

1. Have a rummage sale. You might be surprised how much money you can bring in by selling some of your unneeded “junk.” Be willing to part with some things and you can make a good chunk of change. You can do the same thing by selling on eBay.
2. Change your entertainment lifestyle. Instead of going to the movies, rent a movie and stay home. Instead of going out to eat, make dinner at home. It might be a sacrifice, but it’ll pay off when you can drive to your favorite theaters and restaurants in your beautiful used car.
3. Set up an automatic transfer to your savings account. When your money is automatically transferred to your savings account, you are less likely to spend it. This will help you save up your down payment for a used car.