What to Look for While Searching for $500 Down Cars Near Me?

If you have been searching for $500 down cars near me for some time, you must have received a few hits. And most of those hits might seem legit on the surface as every dealer tend to claim that they sell the best used cars in South Carolina just for $500 down. However, you need to inspect such cars closely before signing any deal. You must look into the dealer and its reputation before considering buy here pay here financing. $500 as down payment is, after all, an attractive deal. And people tend to become biased and ignore the crucial parameters involved in buying and financing used cars.

So, when you are searching for a top buy here pay here near me with $500 down financing, look for the following features. Even if one aspect is off, you should reconsider your purchase decision of buying from that specific dealer.

The interest rate charged

Dealerships love to hand out low down payment auto financing because this gives them the incentive to charge high interest rates. Your high loan amount increases the rate payable first and the associated credit risk factor further hikes the interest rate. This is how the market works but you should know about this. You cannot just sign a deal of $500 down financing without the knowledge of the cost you are paying. So, check if the dealership reveals that your interest rate will rise when you opt for a low down payment. If they keep dismissing even when you ask directly, know that this buy here pay here dealership is not for you.

The quality of used cars available

In other dealerships, a $500 down auto financing is their excuse to sell you cheap cars. You will hear something like that it is their policy to accept a fixed percentage as down payment and only a few cars in their lots come in the $500 down range. Again, nothing illegal but you must inspect the quality of the used cars being sold. In the best dealership with buy here pay here no credit check in Greenville, SC, you will find impeccable used cars with clean ownership and maintenance histories and no signs of fire, flood, or rust damage. Unscrupulous dealerships often try to sell lemon cars to customers opting for low-down financing offers. The latter’s desperation becomes a profit-making opportunity for the former.

Trade-in or no trade-in

Despite the obvious short-term advantages of $500 down used cars, the overall credit burden becomes expensive. If possible, you should always look to pay a high down payment or settle for an affordable quality car. However, you can benefit from all angles by trading in your old car in the dealership. The underlying asset value of your used car will increase your down payment and bring down the auto credit burden that you will have to bear. Search for the best buy here pay here near me with $500 down financing that also has trade-in offers. If your previous vehicle is in top shape, you might not have to pay any down payment at all to finance your next used car.

Family Auto of Taylors is where the above three advantages converge into a single dealership. We are transparent with our financing methods. Our bad credit financing interest rates are competitive and hard to beat. You also get a comprehensive 2 years/36,000 miles warranty on used cars and we help you to trade your old car in exchange for the best resale price in the market. When you end your search for the best $500 down cars near me with Family Auto, you get the top deals. You buy a quality car for a low down payment and get the benefits you deserve.