Realizing that you owe more money than the value for your car is a terrible feeling. Unfortunately, many people find themselves in this predicament—about 60% of car owners, in fact.

You do not have to be one of them. You can get a new-to-you car that delivers the features and performance you want without taking on a car loan that is likely to leave you “under water.”

How? By shopping for a quality pre-owned vehicle.

What Makes Pre-Owned a Better Option

Being upside down on your car loan happens when you owe more on your vehicle than the vehicle is worth. It happens frequently to buyers who:

·         Do not make any down payment (i.e., they finance 100% of the cost of the vehicle)

·         Buy cars in the current or just-past model years

·         Have no trade-in or have a trade-in with excessive wear or damage

·         Takes on a loan with payment terms longer than the buyer intends to keep the car

But all of these factors are controllable. That means you can prevent being upside down on a car loan by:

·         Making a down payment (20% recommended) on your new vehicle

·         Purchasing a vehicle without financing more than 80% of the cost, including taxes, titles and fees

·         Selecting financing terms that result in paying off the vehicle in four years or fewer

·         Purchasing a car that retains its value better

Used vehicles are more likely to be available at a price point that allows you to avoid bad financing terms. Plus, dealers often have more room to negotiate, allowing you to bring down the price tag even further. And since used cars do not depreciate as fast as new cars, you are likely to keep your head above water for the entire life of your auto loan.

Where to Look for Pre-Owned Vehicles

You are most likely to find the right vehicle and affordable car loan when you go to a reputable dealer, like Unique Enterprises in Moriarty. We take pride in helping our customers find the best car for their needs and their budgets. We offer no-pressure auto sales and low-interest financing (for those who qualify). Browse our inventory online and visit us to take a test drive.

Realizing that you owe more money than the value for your car is a terrible feeling. Unfortunately, many people find themselves in this predicament—about 60% of car owners, in fact.

You do not have to be one of them. You can get a new-to-you car that delivers the features and performance you want without taking on a car loan that is likely to leave you “under water.”

How? By shopping for a quality pre-owned vehicle.

What Makes Pre-Owned a Better Option

Being upside down on your car loan happens when you owe more on your vehicle than the vehicle is worth. It happens frequently to buyers who:

·         Do not make any down payment (i.e., they finance 100% of the cost of the vehicle)

·         Buy cars in the current or just-past model years

·         Have no trade-in or have a trade-in with excessive wear or damage

·         Takes on a loan with payment terms longer than the buyer intends to keep the car

But all of these factors are controllable. That means you can prevent being upside down on a car loan by:

·         Making a down payment (20% recommended) on your new vehicle

·         Purchasing a vehicle without financing more than 80% of the cost, including taxes, titles and fees

·         Selecting financing terms that result in paying off the vehicle in four years or fewer

·         Purchasing a car that retains its value better

Used vehicles are more likely to be available at a price point that allows you to avoid bad financing terms. Plus, dealers often have more room to negotiate, allowing you to bring down the price tag even further. And since used cars do not depreciate as fast as new cars, you are likely to keep your head above water for the entire life of your auto loan.

Where to Look for Pre-Owned Vehicles

You are most likely to find the right vehicle and affordable car loan when you go to a reputable dealer, like Unique Enterprises in Moriarty. We take pride in helping our customers find the best car for their needs and their budgets. We offer no-pressure auto sales and low-interest financing (for those who qualify). Browse our inventory online and visit us to take a test drive.