We specialize in used vehicle sales at Gaughan Auto Store in Taylor, PA, so it's no surprise that we have a lot of good things to say about financing a used vehicle. The facts are that buying a used vehicle is a smart choice if you are financially conscious or on a budget. A vehicle is the biggest purchase for most of us around Pittston that actually loses its value over time. The sharpest loss happens in the first five years of a vehicle's life, so buying used gives you the best value by helping you avoid depreciation losses.
If you need to finance your used vehicle near Scranton, the process for applying for credit is the same as financing a new vehicle, with the key difference being how much cash is ultimately in your pocket and how quickly you'll enjoy a payment-free vehicle.
Benefits of Financing a Used Car
In addition to avoiding the worst of depreciation, financing a used vehicle offers many benefits:
- Lower Depreciation: New cars lose value immediately after leaving the new vehicle lot. The value drops like a rock in the first year, depreciating as much as 20%. That's like throwing money out of the window as you drive away from the dealership. Buying a used vehicle at our lot near Moosic helps you avoid the steep loss in value over a new vehicle's first five years.
- Lower Overall Cost: Used vehicles cost less, which translates to lower monthly payments.
- Shorter loan terms: On average, used vehicles are financed over a shorter time, so you'll be closer to ownership and payment free.
- Better Chances of Approval: If you struggle with low or zero credit, you'll typically have better chances of getting approved for a used vehicle loan than a new one.
Start Your Finance Application at Gaughan Auto Store Near Dickson City
Our finance team has experience working with all types of financial situations and budgets to score favorable loan terms that you can afford. Contact us to get started on your application or start the pre-approval process online. You can also take advantage of our current financing offers and specials to save even more!
AdChoices