For many United States citizens, getting finance for a vehicle is out of the question. With millions of Americans suffering with high amounts of credit card and other debt along with bad credit scores, the need for private party Craigslist cars for sale has sharply risen in recent years. With the recent credit crisis, many people are unable to obtain financing for a new vehicle. These people search Craigslist for cars and purchase a vehicle at a small fraction of the cost of purchasing a new car. When vehicle financing is not an option, purchasing a Craigslist car for cash may be the best way to go.
If credit is not the issue and you are simply looking for a great deal on a used vehicle, you may be wondering if it is better to finance the vehicle or pay cash for it. In this situation, you should ask yourself if the cash that you plan to spend can be put to use and earn a higher interest rate than the cost of financing a vehicle, then it may be a better choice to simply finance the vehicle and invest your cash elsewhere. If you simply cannot find an investment that pays more than the going rate that you are able to get for a car loan, then financing a vehicle would make more sense. There are other factors that you should consider when deciding whether or not to purchase a vehicle for cash. For instance, is the cash that you are using your only savings? If so, then it is probably best to hold onto your money and finance your next vehicle.
Either way, whether you purchase your vehicle for cash or you finance it, you can really find some great deals by searching Craigslist cars. Find the vehicle in your area by first visiting the Craigslist homepage in choosing your city. Search the car and truck for sale section for the vehicle that interest you. When looking around at used vehicles, it is a great idea to shop around and compare prices between similar models. By shopping around, you can get a good idea of a vehicle’s true worth. While books such as the NADA and the Kelly Blue Book are often helpful, they are not nearly as resourceful as actually getting out there and comparing one vehicle to another.
If you decide to purchase your vehicle for cash, you can sometimes use this as a negotiation tactic. Most sellers are usually more willing to deal with a buyer who has cash rather than having to deal with financing. Be sure to bring up this point whenever you are trying to negotiate a lower price on the vehicle that you are interested in buying.
Buying Craigslist cars for sale with cash is a good choice in some instances but in other instances financing may be a better choice. Start by searching Craigslist for cars in your local area and see what you can find in your price range.