Getting a Used Auto Loan in Miami
Getting an auto loan for a used car loan from a credit union is a quick process. We recommend that applicants check out TFCU’s used auto loan rates comparison before applying and get preapproved for an auto loan before shopping. The application for a used auto loan can be found on our website, filled out in one of our branches or completed by phone with one of our representatives.
Once approved, it’s time for members to begin car shopping. We recommend using AutoAdvisors during the used car shopping experience, as they are a service dedicated to credit unions only. They have members’ best interest in mind, by scheduling appointments, locating the best vehicle for you within your budget and handling all the details.
Types of Used Cars
When selecting a car to buy with your used auto loan, be sure to know the difference in used cars. There are certified pre-owned and used with the option of purchasing an extended warranty. It’s important to know the difference when
Why should I purchase a Certified Pre-Owned vehicle in Miami?
If you’re looking for a lightly used car with low miles, a certified pre-owned (CPO) vehicle may be the best option for you. CPO vehicles have gone through inspection and are generally newer and have fewer miles compared to a used car. They offer a more comprehensive warranty than that of a used vehicle, which may include free maintenance, roadside assistance
Certified Pre-Owned vehicles are a good idea if you’re looking into purchasing a more expensive or luxury vehicle, but want a model less than 3 years old. For example, popular car brands in Miami that are purchased as CPO include Jeep, BMW
What are the benefits of buying a used car in Florida?
The benefit of owning a used car is how cost-effective it can be. You generally are paying a lower cost for the vehicle and lower monthly car payments, which can save you thousands overall. We also recommend purchasing a used car for teen and first-time drivers, due to their risk of getting into an accident.
Getting a loan for an older used car in some cases may be easier, as the car has gone through its depreciation. Other benefits of purchasing a used car include lower cost on renewing registrations and cheaper cost of insurance, especially in accident-prone states like Florida and California.