Towards the end of 2021, the average price of a used vehicle soared to $29,011. That’s a 39% jump from just twelve months earlier! And because used car prices have skyrocketed, US News reported that over half of Americans have less income than is considered necessary to buy the average-priced used vehicle.
What used to be a $5,000 car is now $8,000. What used to be $8,000 is now $12,000.
If you add up taxes, fees, a 10% down payment, and the average dealer interest rate of around 7.5%, the average used vehicle will now cost you around $520 a month, even by stretching the financing out for six years.*
While we at Inspire can’t adjust the price of the used car and truck market, we can help make the process of finding your next vehicle easier and cheaper.
Skip The Stress
Inspire has partnered with over 50 car dealers in Bucks County, and that partnership allows you fast, easy financing when you find the perfect new car or truck. All you have to do is tell the dealer you’re interested in financing through Inspire. If you’re a member, then they’ll work with us to complete your paperwork. If you’re not a member, then the dealer will make sure you meet our membership requirements before contacting us for your financing. Click here to learn more about our dealer partnerships and how you can take advantage of the perks!
Be prepared ahead of time! Some less-than-honest car dealers will imply your credit is worse than it is to get you to pay a higher interest rate. You can avoid getting into a high interest loan by getting pre qualified. Being pre-qualified means you don’t have to spend your day sitting through the back-and-forth negotiations at the dealer. If you’re not a member yet, you can still apply for a loan today.
Inspire truly can help you from start to finish! When you’re buying a new vehicle it’s a great time to get your insurance quoted to see if you can save even more money. CLICK HERE for a free quote to see just how much you can save!
*Based on Edumunds.co