The Ins and Outs of Buying a Used Car from a Private Owner with Las Vegas Vehicle Financing
Are you ready to buy a used car, but can’t decide whether to visit a dealer or buy from a private party? Each approach has pros and cons that you should consider before making a purchase. Here are the major differences, to help guide your decision.
- Vehicle History: It’s true that buying through a dealer offers some conveniences, but a private seller is more likely to have deeper information on the ins and outs of their own vehicle. Vehicle history reports are helpful, but nothing tops a trustworthy owner’s input.
- Purchase Price: It’s usually less expensive to buy a used car from a private seller, and the reason is simple; dealers need to make a profit to stay in business. Private sellers are more concerned with getting a fair price, and are frequently more willing to negotiate.
- Financing: Financing a used car is rarely as easy as financing a new one. Interest rates tend to be higher on used vehicles and many lenders will not finance cars that are older or over a certain mileage limit. Also, some banks will not finance vehicle purchases made through private sellers, as they’re concerned the seller may not be truthful about the car’s condition.
So, what do you do if you want to buy a used vehicle from a private owner but need to obtain financing? Your credit union can help.
Las Vegas Vehicle Finance
Over the years, credit unions have proven themselves to be a good source for car loans. Credit unions operate to provide savings and lending products that the average American can afford. That includes car loans, which are a big part of a credit union’s business. There are a lot of good reasons to use a credit union when buying a used vehicle in Las Vegas, including saving a lot of money in interest. Here are 5 other reasons to use a credit union for your next used car loan:
- In addition to saving on interest, credit union members generally pay reduced fees associated with loan applications or documentation.
- Credit unions, which are owned by their members, have substantial funds available for such loans.
- Credit union members enjoy a user-friendly loan process.
- A local credit union offers competitive rates and terms.
- Credit unions often offer member deals unique to their members.
Buy Your Used Vehicle Through Us
Did you know that Clark County Credit Union sells cars? It’s true – we are not only your Las Vegas vehicle finance source, but also own a Nevada state-licensed car dealership, Members Auto. At Members Auto, we have a great selection of quality inspected used cars available for members to test drive and purchase. Whether it’s a used car purchase, a trade-in, or financing that you need, we make the process easier by handling everything all under one roof. What could be better?
Joining a credit union and taking advantage of great used vehicle options is a smart move. If you’re ready to shop and start Las Vegas vehicle financing, contact us today at 702-228-2228 to learn more about how CCCU can help.