If you need a good vehicle to get around Metairie, New Orleans, and Kenner, you’re sure to find a great deal at Premier Clearance Center Metairie. We carry a large selection of pre-owned models to fit every budget, whether you want to pay cash or finance your next vehicle.
The ultimate dream for many is to walk into a car dealership and hand over a wad of cash for a vehicle. When you buy a used model at a lower price, it’s often easier to save and reach that goal. There are benefits to paying in cash, but there may be some disadvantages as well to think about.
One of the main benefits is that you only buy what you can afford. You don’t have to deal with monthly payments, and you own the vehicle outright. If you lose your job or take a pay cut, you don’t need to worry about keeping up with monthly payments or losing your car.
When you walk into the dealership, you know exactly which price range to look at for your vehicle. You will need to save back enough cash to pay for licensing.
One of the downsides of paying cash is that you might miss out on some bonuses. Sometimes, dealers offer discounts when a vehicle is financed. If you pay cash, you may not qualify. Ask your dealer about any special discounts or offers before you decide whether to pay cash or finance.
Financing comes with some benefits as well. For one, you can often get a more expensive model than what you can afford with cash. Once you’re approved for a loan, you get to decide how much you want to spend on your vehicle. You might choose a newer model or a high-end trim with more options than what you would have the cash to pay for.
The downside of financing is that you don’t own the vehicle until it’s paid for, and you must keep up on your payments. It’s easy to get approved for a loan that is more than you can afford. You also have interest added to the price of the vehicle, so it ends up costing more.
For many, the ideal solution is to combine cash and financing for your next used vehicle. You can bring in a large cash down payment to lower the amount you need to finance and your monthly payments. You are only charged interest on the amount you finance, which means you pay less in the end.
When you pay partially in cash, you usually have equity in your car, which means it’s worth more than what you owe. You can pay more than the minimum monthly payments to pay off the car loan sooner.
If you want to see how much you qualify for in a used vehicle, you can fill out the online application. Premier Clearance Center Metairie will help you get into a quality used vehicle that you can afford.