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Can You Finance a Used Car?

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If you’re shopping for a used car near Providence, RI but are unsure whether you can pay for it up front, you always have the option of taking out a used car loan. How long can you finance a used car? Used car loan terms are typically anywhere from 60 and 72 months in length. Learn more about how to finance a used car in this guide from the finance team at MINI of Warwick, then visit our dealership to explore our used vehicles for sale in Warwick today!

 

 

How to Finance a Used Car

Can you finance a used car? You certainly can, and the process is not much different from financing a new vehicle. Whether or not you should finance a used car will ultimately depend on your financial situation. Some of the things you can do before you begin shopping for a used car near Cranston, RI include:

  • Review your budget to determine how much you can afford to pay for a used vehicle.
  • If you plan on trading in your current vehicle to help offset your monthly payments, our convenient online trade-in estimator will give you an estimate of the fair market value of your vehicle. Note that the final amount you will be offered for your car will depend on a physical appraisal at our dealership.
  • Get pre-approved for financing by completing our online credit application.

Whether you have good credit, bad credit, or no credit rating at all, our finance experts will work to get you a used car loan that is tailored to your budget.

How Many Years Can You Finance a Used Car?

So, how long can you finance a used car? There’s really no set limit on the length of a used car loan. However, depending on your lender, there may be some restrictions included in the used car loan terms. How many years can you finance a used car? In general, you’ll see used car loans that run for 5 years to 6 years. Again, it will depend on your lender and your current financial situation. Should you try to secure a car loan for a short period or a long period? Even though a long term loan may offer a lower monthly payment, you’ll pay less interest overall with a short term loan.

Explore Your Used Car Loan Options at MINI of Warwick

Can you finance a used car? You can if you shop at MINI of Warwick. If you’d like to learn more about how to finance a used car, the auto finance advisors at MINI of Warwick are ready to assist you. Looking for the best used car deal in the Newport, RI area? Check out our

current used vehicle specials. If you have any further questions or would like to schedule a test drive at our Warwick dealership, please don’t hesitate to contact us.

 

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