Why You Should Finance a Used Vehicle

Financing a Used Vehicle at D.E.L. Motors

Many people who buy cars will usually consider whether it’s best to finance or buy the vehicle outright and try to decide which option works best for them. Sometimes people think the more attractive option would be to buy the car and own it from the get-go, but there are a lot of benefits to financing your vehicle. We offer fantastic financing options at D.E.L. Motors and have an informed staff that can help you with any financing questions you might have. We service the Junction City, Grandview Plaza, and Fort Riley areas, and many more. So, if you’re in the market for a new vehicle and would like more info on your financing options, call, click or come on down today!

Benefits of Paying with Cash

There are many things to consider when paying in cash. As long as you aren’t dipping into your emergency funds, rainy day funds, or your savings, paying in cash may be the best option. With financing, it can be easier to get in over your head with payments by purchasing more car than you can actually afford, so cash is a good way to know that the car you are purchasing is one you can really afford. If you have a certain amount of cash for your car-buying budget, people generally only search for vehicles in that price range, sometimes with financing, people think they can get a more expensive vehicle because they will be paying it out over time.

Price of Paying in Cash

The cost of paying in cash depends entirely on the purchaser’s financial situation. There are many different ways to calculate how much cash you should have put back at any given time. You can search online or speak to a financial advisor, but it is always a good idea to have money put back for any unforeseen circumstances and a lot of people don’t realize it’s usually suggested to put a lot more back than you might think. Medical emergencies or house payments can add up fast in the event you lost your job. So having extra cash on hand is always a good idea instead of dolling out a large amount of your savings on a vehicle when you could’ve gotten a vehicle by financing and paying the vehicle out over time.

Advantages of Financing

Not only does financing allow you to keep more of your cash on hand, but you can also get a better quality car by paying slightly more on your note per month. This allows you to have many more options when searching for a vehicle and won’t keep you cemented in your cash budget and force you to get a vehicle that you may not be in love with. And a lot of people may not realize that a vehicle loan is the second least expensive loan behind a home mortgage. You can also build your credit score by staying on top of your monthly payments or even paying them a little early. If you have credit card debt, especially if it’s somewhat substantial, credit card companies generally charge a much higher interest rate than car loans, so it would be in your best interest to finance your vehicle and pay more to your credit card debt to lower your overall debt. 

Come on down if you would like to more about your financing options. You can also apply online for financing or check out our payment calculator to see about how much your monthly note will be.