Drivers who buy high-quality, late-model pre-owned cars tend to receive a lot for their money. All cars lose quite a bit of market value as soon as they get driven by a first owner, so shoppers can stretch their budgets further by focusing on such vehicles.
Compared to older, less reliable options, though, relatively new pre-owned cars tend to cost quite a bit more. A buyer who might consider paying cash for a used vehicle with many miles on it could have trouble coming up with the money to finance the purchase of a much newer car.
Unfortunately, lenders like banks and credit unions typically have fairly demanding standards that govern who qualifies for financing in such situations. Seeing this type of commerce as inherently risky, they prefer to extend loans for vehicles to be purchased new instead of in pre-owned form.
Having Access to Financing Can Make All the Difference
Companies like Consumer Portfolio Services, however, are ready to help in such situations and similar ones. By forming partnerships with dealers who specialize in selling high-quality used cars, they make an especially savvy purchasing option even more accessible.
The price of the average used car has been rising steadily for quite a few years, thanks largely to how many high-quality vehicles of recent vintage have become available. Whether with leased cars being returned or corporate fleets entering retirement, dealers who stock such vehicles open up interesting options for shoppers looking to make the most of their budgets.
This is even more the case when a dealer has the ability to arrange financing for a purchase on the spot. When shoppers do not need to worry about pleading with one bank after another, they can focus on identifying the pre-owned vehicle that will suit their needs the best.
A Great Way to Obtain a Reliable, High-Quality Car
Although some shoppers still stick to vehicles offered brand-new by dealers, many others see the value in purchasing pre-owned, instead. When it becomes easier to finance the purchase of a pre-owned car, that option will typically start to seem even more attractive. Lenders who are dedicated to increasing the accessibility of this type of financing make things easier for many car shoppers today.