Persistence Pays Off – Deletion of Negative Information

Great blog about an important aspect of repairing your credit… Get rid of whatever negative information you can! Knowing what’s on your credit report is half the battle. It’s possible that there are items on your report that are simply clerical errors or incorrect and correcting those items will raise your score!

#Pittsburgh 2003 Jeep Liberty Limited 4W

#Pittsburgh 2003 Jeep Liberty Limited 4WD Sunroof, CD, Alloys… http://ow.ly/2MrrGR – Apply Online! Answer guaranteed w/in 10 Minutes!

From @Aolautos Car Ownership Costs Less,

From @Aolautos Car Ownership Costs Less, New Study Finds – AAA has good news for car owners tired of feeling the pinch of car ownership: The cost of owning and operating a car has gone down in the last year. http://ow.ly/2GKjS6

Buy Here Pay Here Frequently Asked Questions

We know you need a car to get to work, drive your kids around and do the million other things that people have to get done in a day that are not within walking distance. Many times, people who are inquiring about our Buy Here Pay Here program are new to trying
to get a car with challenged credit. They may have been told by a friend or family member that getting a vehicle loan is impossible without good credit. Eventually, someone tells them the only way they can purchase a vehicle is if they find a car dealership that offers “Buy Here Pay Here”. The large majority of customers that call our dealership looking to apply for our Buy Here Pay
Here program are unaware that they are eligible for traditional sub-prime financing. Almost anyone, regardless of credit is eligible for special financing. Unless you are unable to verify your income, we can get you an auto loan through one of our sub-prime lending companies. Buy Here Pay Here is only for those who cannot verify income, or provide other types of verification for a regular special financing loan. 
Since most of our Buy Here Pay Here customers are not familiar with the process, they have plenty of pre-conceived ideas about how auto financing works and we end up getting pretty much the same questions. Here are the most frequently asked questions about the Buy Here Pay Here program…
 
How much do I need for a down payment?
That depends. Many of our customers don’t realize that our special financing programs are available to those with bad credit or no credit. Almost all of our customers are eligible for one of our guaranteed financing programs and for those programs, the down payment can be as low as $500.00 plus tax and tags. If you are not eligible for
one of our bad credit financing programs, the down payment for a Buy Here Pay Here depends on the cost of the car. Most are half down.
 
How much per month?
We do our best to work with potential buyers and fit our payment into your budget. Payments are on average $250.00 per month. Some are higher and some are lower. It depends on how much of a car you want and the length of your loan.
 
Am I eligible? How do I apply?
The best way to find out which of our auto loan programs you are eligible for is to apply online on our website. We have slimmed the application down to only 8 required fields, and we guarantee a preliminary answer by email in ten minutes or less! By applying online, our salesmen are provided with all of your information and can find
which financing programs you are eligible for before you even call or come in to the dealership. We also take applications over the phone and in person at our dealership.
 
Can I use my trade as a down payment?
Absolutely! We take trade-ins and buy cars through our Cash for Cars program, even if you’re not buying from us. Get an online appraisal of your trade on our website.  

 To find out what auto loan programs you qualify for, fill out a credit application on our website. We guarantee a preliminary answer in 10 minutes or less. View inventory and prices or find out how much your trade is worth. We have the best used cars in Pittsburgh, and can finance anyone.

Too Many Credit Cards?

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Great post from an awesome blog!!

Top Ten Best Used Cars Under $5,000

Used car shopping on a budget? As a dollar stretches less and less, finding a good car on a small budget can be frustrating. You don’t have to sacrifice reliability or quality for budget. We have compiled a combined list of the top ten vehicles that experts say are the best used cars under $5,000. They are reliable and reasonably priced, and won’t break the bank.

2004 and Under Ford Focus

Shoppers looking in the $5,000 are almost always looking for practicality and fuel efficiency. There’s a version for everyone, which is one of the reasons it’s been Ford’s top selling model. There’s no need to worry about mileage either. Even ones that have been marginally maintained are barely broken in at 100k miles.

2002 and Under Volkswagen Jetta

The Jetta is Volkswagen’s top selling model in the US. Buyers love the sophisticated materials, expert engineering and strong engines. Jetta buyers are more satisfied with their purchase than other models. They’re built to last and fuel efficient. Some configurations can get up to 35 city/45 highway, which is excellent fuel efficiency for a car designed over a decade ago. It’s a solid model that is reliable and even offers a little something extra in the style department. 

1999 and Under Honda Civic

People who know good cars won’t need the internet to tell them that a Honda Civic should be a top choice if you’re looking for value and longevity. The Civic is one of the best made cars in history, and many have lived long past the 200,000 mile marker. In the “worry-free everyday driver” segment, the Civic can’t be beat. $5,000 is a small chunk of change for a vehicle that could potentially last through the zombie apocalypse.



2002 and Under Honda CR-V

When it comes to long lasting engines, Honda frequently tops the list. The smaller crossover CR-V is no exception. It has everything that SUV drivers look for… go anywhere capability, space, and safety. Honda’s CR-V also boasts a 4-cylinder gas sipping engine and iconic longevity. The wheels will fall off before the motor goes. You may have to drive it into a tree to get it to stop running.

2002 and Under Honda Accord

Obviously, Honda’s superior engineering and engine design makes pretty much any Honda model appropriate for this list, which is why it you will have to go with older models to get under the $5,000 mark. The Accord isn’t for flash, unless you’re into flashing your smarts, of course. It’s room, comfort, reliability and re-sale value that has made the model so popular.

 2002 and Under Ford Ranger

The Ford Ranger has been a favorite with truck buyers looking for a smaller pick up that is capable to do the work of a huge gas hogging full size. Ford’s innovative engineering puts even the older models on the same level engineering as much later model pick-ups. It’s a standard for reliability and longevity. If you’ve ever owned one, you’d know what all the fuss is about.

 

2002 and Under Hyundai Elantra

Hyundai’s Elantra is one of the most highly recommended cars on the market, and the Elantra earned that title with exceptional build quality, low maintenance costs and outstanding reliability. Its enduring style puts even the older models on par with models of today, and Hyundai’s unmatched 10-year warranty means that most of these models were exceptionally maintained.

Any 1990’s Wrangler

Jeep’s Wrangler is the ultimate in off-road affordability. Specifically in the older models before the Jeep came out of the “niche” and into the main stream. It’s rough and tumble image is particularly valuable to used buyers since the model design hasn’t changed much over the years, making a 1992 Wrangler not much different in the looks department as 2014.

 

2005 and Under Chevrolet Aveo 

Later resigned as the Sonic, the Aveo is a sub-compact sedan or hatchback with a peppy 4 cylinder engine and excellent fuel economy. By 2005, Chevrolet had brought the model up to speed with Honda and other sub-compact leaders. It’s a top notch model for reliability. If you can get one for less than 5,000, it’s a good buy.

 

 

Volvo 740/940

Volvo offered the 740 in a sedan and wagon. It was Volvo’s attempt to attract luxury buyers who already knew that Volvo was well-built and number one in safety. It was later replace by the 850, but many remain on the road today because of Volvo’s extraordinary gift for building reliable quality engines.



By: Used Car World

We have a huge selection of cars, trucks, SUVs and vans and offer many used cars under $5,000 in Pittsburgh, PA. We offer Buy Here Pay Here guaranteed financing with no credit check. Apply online! We guarantee and answer in ten minutes or less. 

Car Buying: New Versus Used Cars

New or used? It’s the first decision a buyer makes when deciding to purchase a vehicle. Which one works best for you will depend on your financial situation and personal preference. Of course, if it were up to us, you would buy a reliable fantastically wonderful used car like one of these great used vehiclesBUT if people didn’t buy new cars, and subsequently sell them we wouldn’t have anything to sell! So, we decided to try to provide you with the most unbiased opinion on the pros and cons of buying new or used as possible for a used car dealership’s blog…

THE VERY FEW (and hopefully not convincing) ADVANTAGES OF BUYING A NEW CAR

M-T-O

They’re made-to-order. With a new car, you are only limited by your budget. You can customize just about everything down to the sunrise chartreuse color that reminds you of the blanket your grandmother knitted for you as a child.  

Manufacturer’s Warranty

Sure, you can buy a great warranty with a used car, but you’ll have to pay for it. The best warranties in the business come from the manufacturers when you buy a new car.

Modern Features, Safety, Etc.

New car makers are controlled heavily legislated. Every year there are new safety standards, fuel efficiency and emission standards. What isn’t regulated by the government comes with natural progress. Makers are constantly searching for technology to stay on the cutting edge and above other makers. This creates a “cool stuff” war and the beneficiary is you.

Clean History?

There is no history!

Interest Rates

If you’re one of those consumers with a good credit history, the best rates are usually on new cars. If you don’t have a good credit history, we’ll consider you a win! (People with credit challenges have a much more difficult time trying to purchase a new car)

Less Work

The only research required when buying a new car is deciding what you want. Sure there’s work in that. You have to compare models and makes. You’ll spend some time searching for discounts and deals. But not nearly as much as is required when buying a used car. Buying a used car usually entails pouring over classified ads, test driving multiple cars, driving to dealerships and securing financing.

Reliability

This one is both an advantage and disadvantage. (see below “Road Tested”) A new car has never been road tested, but it is protected by a manufacturer’s warranty and Lemon Laws. If there’s a defect in manufacturing, you at least have an avenue to pursue.

The New Car Smell…

This one’s tough to overcome. There’s really nothing like a new car smell. But remember! It only lasts for a few weeks and it costs you. Hopefully for our sake, you like the smell of money better.

ADVANTAGES TO PURCHASING A PRE-OWNED CAR

Value

The best reason to buy used is value. A vehicle is not a place to invest money, and any vehicle you buy depreciates each year whether you buy new or used but the largest loss to depreciation occurs when the vehicle is purchased new. In the first one minute of owning a new car, the value drops nearly 11%. By three years, the vehicle has depreciated upwards of 50 percent. At five years, your new $29,000.00 vehicle is only worth 37% of what you paid for it, and that’s no small number. Edmunds has a great infographic that details new car depreciation. You can check it out here.

Price

With a used car, your dollar stretches a whole lot further. Even though you won’t be able to customize every option, you will be able to afford a lot more of them. Not spending the money on the “new” sticker means you will have more cash to buy a car with features like a CD changer, or navigation, or heated leather.. even if it’s in black instead of “gray midnight mist”.

Stress

Having a new car means you worry about every scratch, ding and mark. You avoid hard roads and tight spaces. Used buyers have already had someone else go through the “break in” period. You’re not going to be up all night worried about how close the neighbor parked to your car.. unless you are one of those buyers that buff out dirt marks on their baby blue 1992 Lincoln Continental each night..

Insurance Cost

Insuring a used car is usually less expensive than insuring a new one. While the newest safety features may drive down insurance rates on some new cars, most are more expensive due to higher repair and replacement cost.

High Pressure Sales and $500.00 for “protective silicon fabric spraying”

New car dealers are notorious for “add-ons’ like “dealer prep” (removing plastic from the seats) or “cabin air purification” (deodorant spray) that add hundreds or even thousands to your invoice. New car buyers are also more susceptible to high pressure sales tactics to get them to purchase extras that they don’t want or need. The higher the invoice, the more commission. With used car sales, the car “is what it is”. Aside from a warranty, there really aren’t any add-ons for buyers to be pressured into. While used car dealerships can certainly pressure into a sale, you won’t be pressured into paying $400 bucks for “enhanced road preparation fluid”.. or an oil top off..

“Adjustable” Prices

With used cars, everyone pays pretty much the same. A certain model with a certain number of miles in a certain condition is pretty much the same price from one seller to the next. With new cars, cash incentives, add-ons, dealer invoices, and cash rebates mean that one buyer purchasing a brand new Toyota Camry could pay a very different price that another buyer purchasing the same year, make and model.

Road tested

This may seem like a sales pitch, but a used car can actually be more reliable than a new car. You are the test subject when you purchase a new car. You do have the manufacturer’s warranty and protection from all out lemons, but a used car has already been road tested. Any major manufacturer defects are found and corrected if it’s still driving.

Choosing a new or used car comes down to personal preference, just like anything else you buy. Do you want to spend more and get the latest in manufacturing and a great warranty? Or  do you want your hard earned cash to go a little further and let the previous owner take the depreciation hit? The more information you have to make your decision, the better. If you do decide on a pre-owned vehicle, check out our website. We have a huge inventory or cars, trucks, SUVs and vans and specialize in getting anyone an auto loan.. even those with bad credit or no credit.

 

Car Buying: 10 Biggest Mistakes Made By Auto Loan Customers

mistake

Consumers either desperate for transpmistakeortation or excited about a new purchase often forget that a vehicle is a major purchase. For most consumers, a vehicle is the most expensive purchase they will make aside from their home. Most people wouldn’t rush out and buy a house without careful consideration and it should be the same way when purchasing a vehicle… especially when you’re financing.  Here are 10 of the most common mistakes borrowers make and how to avoid them.

  1. Letting the dog eat your homework…

In the age of the internet, there’s is no excuse for not doing your research. Hundreds of sites offer unlimited information about vehicles in your area, interest rates, pricing, and loan offers. Aside from vehicle and loan sites, you need to know exactly where you stand and how much you can afford to purchase.  An educated consumer is a good business’s best friend, and a bad business’s mortal enemy. Find what cars are available in your area along with prices and values. Educate yourself on what interest rates are typical, and what dealers offer the best financing options for your credit situation.

  1. My credit score is WHAT?!?!

Again, in the age of the internet, there is no excuse for not having a clear picture of your financial situation. Don’t let the dealer or finance company tell you what your credit rating is. You can get that information yourself easy and free. If you haven’t already, pull your yearly free credit report. If there are small or old accounts that can be corrected, do so before going to the dealership. Even a small jump in your score can make a huge difference in your interest rate and loan amount. Know your total financial situation and budget. How much do you bring in a month? How much of a payment can you make? You don’t want to be searching for the answers to these questions after you’ve fallen in love with a car and are sitting in front of a salesman.

  1. Nearly catching your pants on fire…

Lying to yourself about the amount you can spend while still being comfortable enough to handle unexpected issues that arise doesn’t help anyone… especially not you. Experts suggest that your total monthly car expense should be no more than 20% of your net income. There are a plethora of budget calculators on the web like the ones here and here. Figure out exactly how much you can afford and avoid disaster later. No matter how much you love your car, you’re going to hate it when you have to make a payment you can barely afford each month. Don’t forget to budget your car insurance with your payment… which brings us to number 4…

  1. Forgetting about insurance…

You will have to get full coverage insurance on your vehicle for the length of the loan. If you don’t already have insurance, call around and get quotes. At least have an idea of the cost each month. Many consumers see a car payment of $250.00 and think “I can afford that EASY!” without considering the fact that an extra $150.00 in insurance brings that monthly expense to $400.00. You will need to consider this when you are trying to figure out how much of a monthly car payment you can afford. Speaking of monthly payments…

  1. Considering the monthly payment instead of the total price…Been on Craigslist lately? If you’re looking for a car you probably have. A notorious trick some dealerships have been using online is putting the monthly payment (and sometimes weekly.. ALWAYS read the fine print) in the price field instead of the actual price of the car. That “low payment” amount is usually the longest term loan, and you can end up paying a bundle in interest. Go to dealers that list the prices of their cars clearly online or in the store. If you find a car that you love at one of these dealerships that advertise monthly prices instead of cost, make sure you get the actual price of the car from the dealer up front.
  2. Long and lean is good for super-models, not car loans…

Smaller monthly payments on a longer loan can be appealing to buyers, but financial experts suggest you take the shortest loan that you can comfortably pay each month. The longer the loan, the more costly interest you will pay. If you don’t have a choice and have to take the term, at least make a few extra payments now and then and pay the loan off early

  1. Putting their pants on backwards…

Always shop for the loan before you shop for the vehicle. Shopping for the car before you find out what you’re approved for is like shopping in a store without knowing the balance on your debit card. You could be ridiculously under or over your price range. Find out how much a bank or dealership will loan you first. That way, you can shop within your range and avoid being heart broken when you find that perfect car… that you can’t afford.

  1. Gap isn’t just for great chinos…

What’s Gap? Gap is Guaranteed Auto Protection or Guaranteed Asset Protection, depending on who you purchase it from. When you suffer a total loss on your vehicle by theft or accident, auto insurers are going to pay you the current cash value of your vehicle. That can be thousands of dollars less than your actual loan amount. If you total your car a month after you buy it, you could be stuck owing the loan company the difference, and be out a vehicle. Gap insurance covers the difference between what your auto insurer pays and what you owe the bank. Not all borrowers need Gap. If you purchase your vehicle with a large down payment, or have a short term loan, Gap could be a waste of money. You will need to figure out if you are “under-water” (you owe more than your insurer’s replacement cost) and for how long you will be that way. Some lenders require that you purchase Gap as a condition to the loan. Ask the dealership about what Gap options are required. If it’s not required, make an educated decision on whether or not to purchase it.

  1. Buying new…

An automobile is one of the worst investments you can make. The old adage “You lose thousands just driving off of the lot” isn’t far from the truth. One minute after purchase, your car has decreased in value by 11%. By four years, your vehicle is worth half of what you paid for it. Sure, you won’t have that “new car smell”, but with the thousands of dollars you save by buying used you can purchase three lifetimes worth of “new car smell “ spray instead.

  1. Being the hare, not the tortoise…

Slow and steady wins the race. It’s difficult to avoid feeling desperate if you have lost your transportation, but more car buying disasters have happened to rushed buyers than The Beatles have hits. If your just looking to upgrade or get out of an unaffordable payment, take your time and do things right. If you’re without a vehicle and in need of transportation, taking the extra time to avoid mistakes can be difficult but it’s always worth it. Get help from friends while you’re shopping around and figuring out your budget. With the money you save, you can buy them a pizza for their trouble. 

7 Tips For Buying A Car With No Credit or Bad Credit

loan application

loan applicationFor consumers with good credit, car buying can be pleasant experience. They can shop around to find what they like and have finance companies falling all over them to offer a competitive rate. For most consumers, this is not the reality. A majority of car buyers looking to finance vehicles have fair to poor credit and when you’re a buyer struggling with credit challenges, car shopping can be an exercise in futility. If you have bad credit, fair credit or no credit, car buying doesn’t have to make you want to pull your hair out. By following a few simple steps, you can make the process less stressful and be on your way to repairing your credit and get back on the road.

Be honest with yourself…

Car buyers that struggle with credit are normally buying a car out of need, not want. Getting back and forth to work is crucial when money is tight. Be honest with yourself about your situation and realistic about your expectations. One important aspect that bad credit borrowers have to understand is that they may not be able to get the fully loaded newer model vehicle of their dreams.  There are limits to the amount that a finance company will loan to a consumer with poor credit history. Remember… you need transportation this time around and you need to be able to afford your payments with a little wiggle room for the unexpected problems that happen from time to time. Make all of your payments on time, and you will be able to get your dream car on the next go around.

Know your credit situation…

Many consumers believe their credit is much worse than it really is. Items on your credit history may have dropped off or changed since the last time you got your score. Credit agencies do their best to reflect your current credit situation on your report and that information is constantly changing. Federal law requires all three reporting companies to provide consumers one free credit report each year if you request it. You can pull all three of your credit reports on their website for free at https://www.annualcreditreport.com/. Contrary to popular belief, pulling your own credit has no negative effect on your score. Pull yours and get an accurate picture of your credit situation.

Take some action!

Your score is the main indicator that finance companies and dealerships use to get your interest rate. If after you’ve pulled your credit report you find there are items on it that can be corrected, do it! Small accounts can have a large affect on your score. Paying off or negotiating with creditors to remove negative accounts will have an immediate effect on your credit and open possibilities for a better loan and interest rate.

Determine your financial situation…

How much can you afford to pay each month? Experts say your car payment should be no more than 20% of your net income. Use a loan calculator to determine how much a vehicle you can afford. Its likely that a consumer with bad credit has real life experience with unexpected expenses. It is likely how the consumer’s credit was damaged in the first place. Being smart about making sure you can afford your monthly payment will avoid further costly credit damage and leave you some breathing room for when bad things happen.

Get together a down payment…

Down payments can make all the difference for buyers with credit challenges. Your approval and loan amount is going to hinge on how much you can come up with as a down payment. Having a trade-in with equity will suffice for a down payment but having cash to put with it is always better. Put as much as you can down without straining your budget to the limit.

Find a car…

Once you have determined how much you can afford, find a car that fits within your budget. Again, be realistic with your expectations. Shop around and find the best deal you can. 99% of dealers now list their inventory on the internet. Comparing cars and prices has never been easier.

Have your paper work…

Borrowers with bad or no credit can expect to be required to prove everything. You will need proof of income and residence. Bring pay stubs, a bank statement and utility bills. It’s likely that you will be asked to provide references. If you have a trade, bring the title. If you owe money on the trade, bring the information on your finance company and current loan. Having your documents ready will speed up the process and make it easier for lenders and dealerships to get you an approval.

Getting an auto loan with bad credit can be difficult. Consumers that are prepared and realistic will have a much easier time and a better chance at securing an approval. At our dealership, we have been helping customers with credit problems secure auto loans for quality vehicles for over twenty years. If you’re looking to get an auto loan, apply on our website. We offer no credit and bad credit auto loans and Buy Here Pay Here guaranteed financing with no credit check.

What is a Sub-Prime Borrower?

sub-primeAccording to Experian’s State of the Automotive Finance Market Report for the first quarter of 2014, scores are divided into five categories of ranges. 740 and up puts your score in the “Super Prime” category. 730-680 is “Prime” and 679-620 is “Non-Prime”.  That leaves all other consumers in the “Sub-Prime” category with 550 and under being described as “Deep Sub-Prime”. According to their Open Loans by Risk report, over 21 percent of all open loans are below prime, with deep sub-prime lending being the highest growing category of open loans. The average credit score of an auto financing customer dropped 10 points from the first quarter of 2013 from 731 to 721. In summary, more lenders are willing to take chances with sub-prime borrowers as more and more consumers are falling into that category. According to Credit-Report-101, the national average FICO credit score as of 2014 in the US is 639, which would place the average national consumer in the “Non-Prime” category. 

That’s it. The only piece of information used to determine your lending category is your score. Your score represents the amount of risk a lender assumes by loaning you money or goods. 
More and more sub-prime borrowers are being approved for auto loans. Reports suggest that sub-prime lending has been the single highest growth category in lending. Experian reports that over 45% of all auto loans went to sub-prime borrowers. Less stringent auto credit means that you may be approved for an auto loan that you would have been denied for a year ago. Sub-prime auto lenders don’t worry market watchers as much as mortgage lenders because auto loans are less risky in general when compared to sub-prime mortgage lending. Car loan payments are smaller and more manageable, even for those less likely to pay. The loans are scheduled to be re-payed over a much shorter period of time. The value of the collateral is less susceptible to change and is much easier to repossess and re-sell in event of default. Buyers are much more likely to keep from having their transportation to work from being repossessed.

Where does this leave you? That depends. It’s looking to continue to be a buyer’s market. With more consumers being affected by low credit scores, lenders are opening up lending to those who would have not been able to get a car loan in the past. Buyers with better credit are dwindling and more in demand, resulting in competitive interest rates for those upper category borrowers. 

If you find that you fall into the sub-prime category and are looking to finance a vehicle, your local dealer is the first place to start. While you will likely be denied financing by credit unions or private lenders, a dealership that specializes in bad credit auto loans or Buy Here Pay Here will be able to finance you with a down payment and few items of income and residency verification.

At Used Car World we work primarily with consumers struggling with credit challenges. We offer all kinds of borrowers access to quality, affordable vehicles. We offer guaranteed approvals. You can apply online on our website at www.usedcarworldpa.com