Find the Best No Money Down Automobiles
No money down cars in Columbia SC is currently perhaps the most affordable way for many of the people with credit history problems to buy cars in the Columbia area. This means cars purchased without making a down payment and still getting an auto loan, makes it more affordable to own a vehicle. The South Carolina car loan interest rates have fallen, and many car dealerships have used the no money down strategy in listing their car inventory specifically in online platforms.
This strategy is now aggressively used in getting people with credit problems to purchase vehicles with no money down since many of those lured by this have bad credit ratings. The level of appeal to this method of car dealing differs from one dealership to another. It is usually difficult to get a bad credit car loan being bankrupt. Having a financing application process for individuals with no or bad credit or a no money for down payment programs have proven a great way to get people into the used car dealerships and many more of them are buying an automobile.
Some may view buying a used car as a bad thing, however, buying a new car in Columbia SC may not be as great of a decision as many would hope for the following reasons:
1. New cars get you less money over long periods of time. Actually, compared to the amount of money invested in purchasing it and maintaining it, the depreciation makes you lose a lot more than expected.
2. When a new car is financed a new car is never really owned by the purchaser outright but rather by the purchasing company or the bank. The purchaser only fully owns it when the car loan is fully paid.
3. New cars are liabilities as they drop in value over time as they depreciate with mileage. Most car models drop in value as the years go by. This means new cars are not investments. The depreciation rate for new cars is incremental over the years with about 15%-25% depreciation in value. This decline in value is relevant for new cars bought with a car loan of five years.
4. New cars are costly, insurance charges are higher than those of used cars plus the warranties are not as dependable as they are stated to be.
For more information on why used vehicles are better to buy than new automobiles, be sure to watch the following video “10 Reasons Why Old Cars Are Better Than New Cars”.
In Columbia, there are a number of car dealerships that offer no money down car offers. Below are some examples inclusive of the car available for purchase with no down payment:
1. Used cars by payment: This is an online platform that offers budget SUV car deal listing from different car dealerships with no money down option for those that wish to secure auto financing but have bad credit. Some of the vehicles on this platform include:
• 2018 Mercedes-Benz GLE 350
• 2017 GMC Yukon
• 2017 Lexus GX 460
• 2017 Porsche Macan
• 2018 Chevrolet Tahoe
2. Love Automotive Group: This platform is under the Credit Management Acceptance Corporation (CMAC) which has a good track record of about 25 years in car financing for the Love Automotive Group. Like all the other car dealerships, they too have the no money down options for car purchasing. Some of the popular car models under this include:
• 2015 Buick Verano
• 2015 Chevrolet Traverse
• 2016 Chevrolet Silverado 1500
• 2014 Chevrolet Corvette Stingray & many more.
3. Capital Car Sales: This car dealership in Columbia, SC, gives a wide variety of cars, SUVs, and trucks with no money down payments required when financing a vehicle. Some of the cars found in this dealership include:
• 2015 Toyota Corolla
• 2017 Nissan Versa
• 2014 Nissan Altima
• 2016 Nissan Sentra
• 2013 Kia Soul
• 2015 Jeep Cherokee
• 2016 Chevrolet Cruze
There are other honorable mentions for the car dealers offering no down payment in Columbia, SC such as Drivers Lane Dealers, Boyle Car Dealership which all offer no money down car purchasing options.
The other option for no money down cars is to trade in your old car for a newer or better model. Trading basically works like this, the value of your car is deducted from the price of purchasing a new or used car. This does not require you to pay any cash up front. However, dealers do not usually give the full value of your car, this is the downside to it. Trading in should be done diligently by gathering multiple offers from dealerships as a way to maximize the trade-in value of the car. Perhaps it would be a good idea to contact multiple car dealerships in Columbia (including Used cars by payment, Love Automotive Group, Capital Car Sales, Drivers Lane Dealers, and Boyle Car Dealership among others) for a trade-in appraisal appointment to secure the best deal!
For more information on used vehicles and buy here pay here car dealers, take some time and read the following related articles.