Financing for Purchasing Used Cars

There are many lenders out there that offer non-traditional auto loans and other types of loans that can be used for the purchase of used cars. Buy directly from the owner can save you thousands of dollars, but if you do not have the funds, you will need financing and this is while car loans can provide the help you need.

Car Loans for Used Cars

Obtain financing for the purchase of a used car can be difficult, most lenders do not like the idea due to the high risk involved in this type of transaction. The value of the car depreciates rapidly if it is a new car and therefore, if used as collateral, which do not serve the purpose. This is the reason why some traditional lenders offer loans for buying cars, but with shorter repayment programs to prevent the depreciation value of the vehicle.

However, there are non-traditional lenders willing to make loans secured and unsecured loans for the purchase of car, in exchange for an interest rate slightly higher provide the necessary funds to purchase a used car from the previous owner and adapt the loan to meet your needs. You will be able to get a higher loan amount, longer repayment programs, lower monthly payments, etc.

Read More

Texas isn't open for Tesla sales, governor says

BY: Bloomberg

Texas Gov. Greg Abbott said that Tesla Motors Inc. shouldn’t expect to open Lone Star state sales outlets any time soon.

Tesla has been trying for two years to crack the nation’s second-largest automobile market. It has been stymied by a powerful dealership lobby that opposes allowing the company to sell its electric cars directly to consumers.

“Texas has a very robust, very open, very effective automobile sector that seems like it’s working quite well the way that it is,” Abbott told Bloomberg Radio today. “If you’re going to have a breakdown in a car, you need to have a car dealership there to make sure that the vehicle is going to be taken care of. We haven’t seen that from Tesla.”

For years, Tesla has been working to roll back state laws across the U.S. to allow the company to sell its $100,000 vehicle without a traditional dealership. Tesla decries the system as an unfair monopoly. Auto dealers say the practice protects family-owned businesses and their customers.

Ricardo Reyes, a spokesman for Tesla, said the company has four maintenance centers in Texas that have earned high marks for service. He said doing business in the state is a matter of when, not if.

“We look forward to working as a business in Texas,” he said. “It’s just a matter of time.”

Tesla has had success in Georgia, Maryland and New Jersey, where lawmakers this year allowed direct sales.

Currently, Texans who wish to own a Tesla can visit one of three “galleries” in major cities to view the cars, but they can’t test drive them or discuss price. Prospective owners must go to another state or order online and have a car shipped to them.

Courting Texans

Tesla has tried hard to win over Texas. CEO Elon Musk visited Austin lawmakers this year days after the legislative session convened in January. He also hired 20 lobbyists and spent more than $150,000 on campaign contributions.

Musk’s efforts fell flat. Pro-Tesla bills gained little traction, failing to make it out of committees for a full vote by the House or Senate.

Tapping the Texas market is key for Tesla. Texans buy more than $81 billion worth of cars every year, second only to California, according to the National Automobile Dealers Association.

Teslas compose only a fraction of cars on Texas roads. Of the 78,000 Model S vehicles on roads worldwide, only about 3,000 are in Texas, according to Tesla.

Tesla isn’t giving up. The company’s vice president of business development, Diarmuid O’Connell, said this year that the company will continue to work at swaying lawmakers before the next regular legislative session begins in 2017.

---

Resource: 

Texas isn't open for Tesla sales, governor says

Texas isn't open for Tesla sales, governor says

Read More

Advantage of Buying Used Car from Dealer

Buying a vehicle can be very interesting and processes of thought. Not only you determine what type of vehicle offers the best means of transport, you should also ensure that you choose a car that will be able to handle all of your personal and professional needs. It helps to improve your chances of getting the best means of transport, it is necessary to do some research and find out exactly what type of vehicle you can afford. You may be able to find exactly what you need for your car dealer occasion.

It is attractive to buy a new car but for lot of people buying new car is not an option. The fact that you cannot have the financial means to get a new car does not mean you'll never get a good car for your use. There are many used car dealers in the world offering different used cars deals. All you need is a little time, motivation and a little knowledge of what to look for.

Whatever type of vehicle you are in the market for; there is plenty for you to choose from, no matter where you go. If you do not really know where to start, you can visit various car used dealers and take a look at what they have in their inventory.

Read More