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Used Wheels, New You

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Even if it's a year old you save a LOT!

The option to buy a used vehicle instead of a new one is becoming more popular in this tough economy.

The savings of buying used are endless! The price tag attached to a used vehicle is usually several thousand dollars less than for new cars. A new car typically depreciates about 20% in value the minute you drive it off the lot.

Look for the best rates

Credit unions generally have lower auto-loan interest rates than banks. This fact can be a factor in your financial decision when you calculate what you'll be paying in interest over the term of the loan. Look for the best rates by getting quotes from many competing lenders before making your loan decision.

Your credit score and other factors determine the interest rate that you qualify for. Your credit score is a three-digit number that gives lenders an idea of how you will pay back your loan.

Compare insurance costs

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Learn how to buy a used car.

Here's another good reason to buy used: Insurance costs are lower because the comprehensive and collision costs are lower.

Insurance costs can vary according to a number of factors that assess your risk. Your age and gender are two risk factors that you cannot control, but you can control your grades, and the mileage, make, model, and year of your car.

There are some great resources for exploring used cars...

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