There are many choices for people in phoenix when it comes to
new car buying, unfortunately,
Buy here pay here car lots in Phoenix do not provide new car cars. Consumers need to know this.
New car loans are only available through new car dealerships, credit unions, banks, and tier one finance companies. Many banks and credit unions are outside resources that you can get a loan from for the payoff of any vehicle. When you have a clear title to the vehicle you have the option of becoming a private seller, which you may make more money on your old car rather then having a loss on your hands.
Phoenix new car dealerships do offer a solution to your situation though. They will offer new car loans even if your trade in value is less than you owe, also know as
negative equity car loans. The car lot will add the cost that is left owed on to your new car loan. The down side is that this means they are going to have a higher monthly payment; the negative equity from the trade in is now a part of the total because of the new car loan you are applying for.
Many people in Phoenix often find that this is really there only option. Yes, it does mean you are paying more out of your pocket than you had previously anticipated. However, the upside to that - you will stay have a loan to pay back to an outside lender. New car loans are available through numerous different programs. Deciding which the best option for you is can be made simpler by using an auto loan calculator which will help demonstrate to you exactly what your monthly payments will be on your new car loan.
Buying a new car can be a fun and stimulating experience. Take the time to investigate the options that are available to.