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Used Car Finance FAQs

Thinking about making your next car a used car? That’s a great choice for shoppers in Manhattan, Junction City, and Wamego. Now all you need to do is figure out how you’re going to finance it. On this page, we at Murdock Manhattan Chevrolet Cadillac have put together this helpful used car finance FAQ guide.
This guide is designed to help you get a better idea of what your financing options are and what the best financing option is for your needs. Read ahead to learn more!

Tips For buying a used car
Used Car Buying near Manhattan KS

Can I Lease a Used Car?

Yes, you can lease a used car. However, not all car manufacturer’s allow leasing for their used models. Before you get your heart set on a used vehicle, do a little research in whether or not that brand offers leasing for their used models.

Leases near Manhattan KS

    What Kind of Down Payment Do I Need On a Used Car?

    The down payment rule for buying a used car is the same as if you were buying a new car – put down about 20% of the vehicle’s price. If you’re leasing the used car, however, you’ll want to put down as little as you possibly can. 

    Down Payment on a Used Car

      What’s a Good APR On a Used Vehicle?

      The APR, or annual percentage rate, of a used vehicle can vary greatly and largely depends on factors like your credit score and how long you’re planning to take to pay back the car loan. If you have good credit and your loan length is short, you’ll have an APR around 6% to 10%.

      Low APR Vehicle for Sale

        Does Mileage Affect the Price of a Used Car?

        Yes, mileage greatly affects the price of a used car because mileage is typically associated with the general condition of the vehicle. In nearly all cases, vehicles with high mileages like in the 100,000s won’t last as long as vehicles that have lower mileages like in the realm of 50,000. So, you’ll almost always have to pay more for a vehicle with a lower mileage simply because of the guaranteed quality.
        Vehicle with Low Mileage for Sale

          Do I Need an Extended Warranty?

          No, you don’t need an extended warranty to drive your used vehicle off the lot. However, if disaster strikes, an extended warranty could mean the difference between fixing your car and not having a car at all because you can’t afford to pay for the repairs out of pocket. You can also shop around for extended warranties until you find a good price – you don’t need to commit to the first one you look at after you’ve signed the paperwork for your used vehicle.
          Extended Warranty near Manhattan KS

            Still Have Questions about Used Car Financing?

            We at Murdock Manhattan Chevrolet Cadillac are thrilled that you stopped by today to learn more about financing your next used car. If you still have questions about financing your next used car, we’d be more than happy to help. Shoppers in Manhattan, Junction City, and Wamego can speak with a finance expert in our finance department today by giving us a call or stopping by the dealership! 

            Apply For Financing
            Car Financing near Manhattan KS

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