These days, many people can’t afford the exorbitant prices associated with buying a brand-new vehicle. Used cars are a better option for buyers on a strict budget, and it’s possible to find a great vehicle under $5,000 in many instances. Before taking out a loan to finance a used car or truck, be sure to keep the following points in mind. 

How Can I Find a Reliable Used Vehicle for Under $5,000?

1. Consult a Mechanic

A friendly mechanic is a great resource when car shopping. If you’re on good terms with your local auto shop, ask them to look out for a quality vehicle within your price range. While this method might take a bit longer, you can rest assured that the vehicle will be a quality selection. 

2. Review the Vehicle History

Vehicle history reports provide information on repairs, whether the car has been involved in an accident, and many other factors that can influence your decision. Be sure to request a report when considering a vehicle, or do an online search of your own before visiting a loan office to talk about funding. 

3. Look for Private Sellers

You can usually find better deals with private sellers. Negotiations also tend to be easier in this case, as opposed to haggling with a salesperson at a used car lot. Even better, see if any friends or family know a person interested in selling a vehicle. 

4. Get an Inspection

Once you find a solid used vehicle, don’t forget to have it professionally inspected. Unfortunately, you can’t always rely on a seller being forthcoming with you about any faults, and some issues aren’t visible to the naked eye. A mechanic will thoroughly inspect your vehicle and provide insight into whether it’s a worthwhile purchase. 

Since 1956, Coastal Finance Company has provided customized loan products with reasonable rates and terms to residents of Savannah, GA. Additionally, these loan gurus are happy to provide funding for vehicles under $5,000, which many lending institutions are unwilling to do. The application process is exceedingly simple, and in most cases, they’ll have a decision within an hour. While your credit score will be considered when applying for a personal loan, they also look at many other factors when making a decision. Call (912) 303-9979 today to speak with an agent or visit the website to get started today.