Is It Smart to Finance a Used Car?

Is it smart to finance a used car, or is it better to buy a new vehicle? This is a question that our friendly Subaru dealers are often asked. In our personal opinion, financing a used Subaru is an ideal choice, and there are several reasons why.

Low Down Payment 

Unlike new cars, which require a significant down payment, used cars are available for a down payment that is significantly less. In fact, in some cases there's no down payment at all for a used car. And since the amount of your down payment impacts your monthly payment, you have more flexibility to decide how much you can afford to put down versus how much you want your monthly payment to be.

Get More Car for Your Money  

When you buy a new car, you're paying a premium price for an asset that will depreciate by up to 30 percent during the first year of ownership. But when you finance a used car or a Certified Pre-Owned Subaru vehicle, it will be much more affordable because depreciation will have already occurred. Thus, you can look forward to buying a higher quality car that has a more powerful engine and more of the features you're looking for.

Financing Instead of Paying Cash

Spending all your savings on a large cash purchase such as a home or a car is rarely a good idea. But by financing a used car at our local Subaru dealership, you can keep your savings intact by putting down only a small amount of money and setting up affordable monthly payments.

Boost (or Build) Your Credit Rating  

A car loan secured with Subaru financing can positively impact your credit rating. If you're an experienced car buyer, a loan affords the chance to make on-time payments, own the car at the end of the financing term, and boost your credit rating. Meanwhile, if you don't have a credit rating and want to establish good credit, financing a used car is an excellent place to start.

Financing a Quality Used Subaru Car Today

Car shoppers at Gillman Subaru San Antonio can choose to finance a used car or purchase a new vehicle. Our experienced used car dealers endorse financing a used car because of the several upsides it presents. Contact us today and let's talk further!