If you’re looking for a replacement for your current car or you’re buying your very first car, you might be looking for a used car if you’re looking to save money. Used cars in good condition an be a great way to keep monthly car payments low, or depending on how much you have saved up and the type of car you’re looking to buy, can allow you to bypass the car loan altogether and allow you to make your purchase in cash.
You’ve got a few different options when it comes to buying a used car; a lot of people will go to car dealerships, and some will buy a used car in a private sale and from an independent seller. But did you know that you also have the option of buying a car that was once used as a rental car? Here’s what you need to know about buying a rental car:
When rental cars become cars for sale
Many of the major car rental companies out there will offer former rental cars for sale; a quick search on the web and you can find everything from used budget cars to used luxury vehicles. Rental car companies aren’t selling these cars because there’s necessarily something wrong with them, but rather to make room in their inventory for new arrivals.
When you buy a car from someone or from a dealership, there’s a good chance that you can find a car that’s only had a single owner—maybe two, tops. When you buy a rental car, you’re buying a car that’s probably been driven by hundreds of people. It could have gone through a lot more than a normal used car goes through.
On the other hand, you can usually ensure that rental car companies take good care of their cars. After all, they need to make sure they’re in good working order for the next customer. When they decide to put their cars up for sale, you might be able to get a better deal for a particular model when you buy from them, rather than a dealership. You can also ask to see a car history report, so you can learn everything you need to know about the vehicle before making any final decisions.
When you buy from a dealership, you’ll often be limited in your options, unless you compare cars from several different dealerships. If you’re in a time crunch or don’t want to be bothered with too much shopping around, buying from a car rental company can give you tons of different options to choose from. Just like with dealerships, they also usually offer financing options and will accept trade-in cars. And for the indecisive buyer, it’s also pretty common to be able to test out a car for several days before making a final decision.
Do you need extra money to buy a car? If you’re receiving long-term payments from a structured settlement or annuity, Peachtree Financial Solutions can help you get the money you need to purchase a car. You can use the lump sum of cash you receive from Peachtree as your down payment, or you may be able to purchase your car in cash and avoid taking out a car loan. Contact Peachtree Financial Solutions today for more information and to receive your quote.
Nothing above is meant to provide financial, tax, or legal advice. You should meet with appropriate professionals for such services.