Pre-Owned Car Dealerships in Memphis TN

Auto Financing Vs. Leasing: Take An Informed Decision In 2020

Purchasing a pre-owned four-wheeler from a pre-owned car dealerships in Memphis TN is a long term investment that requires thorough research. It is an expensive affair, especially when you cannot pay full upfront for your dream car.

There are many used car dealers in Memphis TN. After deciding on which car to buy, the next big step is to decide whether to go for financing or leasing. Both options have their pros and cons and let you use the vehicle without making immediate payments. However, one must know the difference in choosing what suits better. Here is the difference between financing and leasing that will help you to make an informed decision in 2020.

1. Who will be the owner?

In auto financing, you will own the vehicle, once you are done paying all the installments or when you settle the loan. In case of leasing, you use the car on rent for a limited period, which is usually two to three years. After the term ends, you no longer have the right to use it and will have to return it to the owner. Hence, financing gives you the option of owning the vehicle, whereas you are not entitled to do so in leasing unless you make arrangements to pay more and own the car.

2. Cost

Monthly payment in financing is more against leasing. This is because financing installment includes a fraction of the car’s actual cost along with taxes and miscellaneous fees. However, the lease cost includes only depreciation on the vehicle in the form of rent.

3. Terms and conditions

Financing gives you the freedom to drive your car as much as you like since it will get transferred in your name once you pay the loan. However, leasing may restrict your driving. The owner can limit mileage that the lessee can put on their vehicle. You may end up paying extra bucks for not following terms.

4. Resale option

An auto financed vehicle offers you the advantage of changing the vehicle. You can sell it and get another one after paying the balance loan. But because a leased car needs to be returned, you cannot sell or change it and will have to drive it for the fixed period. You may go for trimming the lease period, but that too comes at the cost of penalty fee for not adhering to the agreement.

5. Wear and Tear

The owner of the leased vehicle can demand money for excessive wear and tear of the car, whereas this is not the case in financed vehicles.

6. Customization

You need to return leased vehicle in the same condition (slight wear is an exception). But you can customize and upgrade a financed vehicle as you will have equity in the car once the term of the loan ends.

Now that you know about options for sourcing funds for your car, decide which used luxury car to buy and leave the rest to Auto Universe, the best used car dealership in Memphis TN. We provide competitive financing options and work to offer awesome auto financing deals for your pure luxury.

Sell At A Pre-owned Car Dealership In Memphis In Four Easy Steps In 2020

Selling a vehicle at pre-owned car dealerships in Memphis TN, can be more daunting than buying one. It takes a lot of effort to get a fair deal on pre-owned cars as it is a competitive affair. Presentation is the key to selling. It can add significant value to your car’s price. Though you can choose to sell privately, an authorized dealer can make this process a lot easier along with getting you a great deal. Here are four easy steps to follow to sell your used car at a dealership in 2020.

1. Preparing your car

Before contacting a dealer you must prepare your car, as a filthy car will look unappealing and fetch you less price.

a. Get it professionally valeted

Even if you maintain your car regularly, do not avoid getting it cleaned by professionals. Quick swill with hosepipe won’t work as the car needs to outshine to get a good resale value. Hence, it is essential to get it cleaned from inside to outside.

b. Work on detailing

Focus on fine details from scratching to lights to batteries. Pull the dents and check the wiper blades, knobs and handles. Ensure that there is no spot on the cup holder, armrest and ashtrays. Clean all the smudges and streaks of the glass. In all, get it serviced before putting it on sale.

c. Remove all belongings

Your potential buyer will not find the car attractive if it is filled with your belongings. It may look cluttered, allowing your prospective buyer to devalue it. So, empty it all. Check every cubbyholes, trunk and hidden storage and clear it out.

d. Documentation

Make sure to maintain the service history, registration documents, and all relevant paperwork. This will depict your honesty and assure the buyer of making a good deal.

2. Contact the dealer

Contacting a dealer to purchase pre-owned luxury cars in Memphis TN saves you from the trouble of locating a buyer. An authorized dealer will inspect your car and run down the VIN number through the vehicle’s history database.

3. Get an offer

After complete evaluation and inspection of the vehicle’s condition, the dealer makes an offer for the car. You can either choose to trade-in or sell for cash. Avoid overestimating your car’s resale value as it may make you unwilling to settle for the price offered.

4. Close the deal

The value of a pre-owned vehicle depends on its condition and demand for that specific make and model. Though preparing it for resale will add to its worth, depreciation will be a big expense on its resale value. Once satisfied with the offer, you can close the deal with the dealer.

Where Can I Sell My Pre-Owned Luxury Car in Memphis TN?

There are several Used Car dealers in Memphis TN offering you to buy your car but it is essential to look for a recognized dealer to get a great deal. Auto Universe, being an experienced pre-owned car dealership, works to ease your car buying and selling experience. We do not obligate you to sell immediately as our offer remains valid for five days or 250 additional miles. Besides, we schedule all the necessary paperwork. Selling cars has never been easier at Auto Universe. Fill us with your vehicle’s information and leave the rest to us.