Used Car Loans Are Not All Alike
If you are interested in purchasing a used car, AAA can arrange the financing
for your used car loan. For qualifying members, the loans arranged by AAA
feature low interest rates and fast service. There are no application fees and
the application can be completed by phone or online. You may want to request to
be pre-approved for a used car loan before you start shopping for a vehicle as
this will allow you to shop with confidence, knowing that you have the money to
buy the vehicle of your choice and that you can take advantage of any
appropriate rebates. Call your local AAA office today for more assistance
regarding your used car loan and other services available from AAA. If you are
not sure how to contact your local AAA club, click on the box on this page and
enter your zip code, then follow the prompts.
Obtaining A Used Car Loan Through A Car Dealership
When you reach an agreement on the purchase price of a used car, you may be
tempted to think your work is done, however you must take extra care to ensure
that you have no regrets later. If you are getting your used car loan through a
dealership, you need to go through a finance and insurance process. Dealership
financing is frequently structured so that you pay very little principal on
your used car loan until the interest is almost completely paid off.
This means that when you go to sell or trade-in the car down the road you may
owe more than the car is worth, so buyers beware!
Click here and discover how AAA can make life easier for you in cases like this
and for information regarding the many services and insurance plans available
from your local AAA club.
Private Party Used Car Loans
Through its partnership with AAA, Capital One Auto Finance also provides used
car loans for private party used auto and motorcycle purchases. These
person-to-person used car loans refer to any auto or motorcycle that is being
sold by an individual, rather than by a new or used vehicle dealer. For
lien-free person-to-person purchases, your Blank Check® is payable to the
individual you are purchasing from, signed in the presence of a notary. A
vehicle is lien-free if the owner holds the title and does not have a loan
obligation to a lender. If the vehicle is still under a lien, the lender holds
the title until the loan obligation is fulfilled. It is best to obtain a used
car loan from a source that is reputable. This will mitigate the possibility
that you will wind up owing more than the car is worth later on. Again, always
get professional advice regarding loans and sales involving private parties.
Learn more about AAA services and used car loan information from your local AAA
club. To find the AAA office nearest to you, enter your zip code in the box on
this page and follow the prompts. AAA is always ready to help you with your
automotive, financial and travel needs. It's a benefit of membership!
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