Financing Options for Buying A Used Car
There are so many good reasons to buy a Joe Bowman Chevrolet used car! Not only do we have a 75-point inspection that every pre-owned car must pass before becoming eligible for sale, we offer competitive financing rates, too.
As a quality Harrisonburg used car dealer with an excellent reputation, we back up our commitment to selling quality used cars with either a 30 or 90-day warranty, depending on the age of the vehicle and mileage.
But before you start looking for a newer vehicle, do your car loan homework!
• Know your credit score
• Get pre-approval
• Calculate loan costs
• Understand your financing
Know Your Credit Score
You can actually look up your credit score right on our website. And it's important that you do so! Credit ratings help determine your interest rate.
It tells the lender how strong your history is for repayment. This is a critical step for preparing to buy your car.
Pre-Approval
Always get pre-approval from either the car dealership you're working with or your bank. This is a guarantee that you have the loan to cover the cost of the vehicle you want to buy.
Loan Costs
You definitely want to know how much car you can afford to buy. You can fill out our form online and we can then determine the best financing options and rates for you. And while your monthly payment amount is important, you also want to consider the length of the loan.
Stretching out payments for six or seven years may not be wise for a used car. Instead, it may mean that the car or truck is not within your budget. Try to remain objective so that you keep finance charges to a minimum.
Used Car Dealership Financing vs Bank Financing
Some customers come to our Harrisonburg dealership and they already have loan pre-approval from their bank. That's great!
The Joe Bowman Auto Plaza dealership has an excellent reputation with local lending institutions. We can get your loan processed within a few days.
But what many people don't know is that our dealership car loan interest rates are competitive with local banks and some credit unions. And, we can process your loan much quicker than going through a bank.
Because we work with a large network of lending institutions, we can help you find the best interest rate possible. And if you have had past credit problems, we'll make sure to find a rate that allows you to build equity.
What's more, if you have a car you need to sell, you can either trade it in here with us or we can buy it from you outright!
Understanding Your Loan
Know the type of loan you are getting, e.g., simple interest, variable, etc. so that you know the total cost of your investment. Your lender will break down the charges for you so that you can see exactly what you're paying.
At our dealership, we only do simple interest loans. It's very easy to understand and you can see exactly how much interest you're paying, the principle amount, and the terms of the loan.
When you buy a new or used car from us, you get additional perks as well for as long as you own the vehicle.
• Preferred service scheduling
• Free State inspections
• Complimentary vehicle when your car is getting serviced
If you're thinking of buying a new or newer vehicle, stop by our dealership or visit our website. Then stop in to see us.
We can help you get the car you want!
