Applying for a used car loan is one of the best ways to save money. With the sluggish economy and the soaring oil prices, buying a brand new car instead of a used one in great condition is impractical. Car owners who are happy with the vehicle they have but are looking for affordable rates can talk to companies that will offer them to refinance car loan. Meanwhile, here are some automobile applicants for used car loans may want to check out and consider.
1. Honda Fit
This subcompact car may look small on the outside but it is roomy enough on the inside. Today, it is one of the cheapest cars sold in the US market, with used ones being sold at $13,000. While Honda does not build the fastest cars on the market, drivers note that it can be easily maneuvered and is very responsive. Used Honda Fit models are fuel-efficient, durable, and equipped with reliable safety features.
2. Ford Fusion
Not exactly the cheapest in the list at $15,000 and beyond, this midsize car is spacious, responsive, and great for families. The new generation Ford Fusion featured little changes, but one of the best features of this car is its durability. Car owners note how Fusion models aged well even after three to four years. The prices of used cars manufactured three or four years are a bit lower at $12,000 to $19,000.
3. Honda CR-V
The first Honda CR-V was first manufactured back in 1995 and it is still one of the best-selling cars today. Used ones may cost anywhere from $16,000 to $20,000. Models manufactured in 2004 to 2006 may cost from $10,000 to $14,000. This compact crossover should only be driven on gravel and the four-cylinder engine is unexceptional. It is fuel-efficient, though, which can help save the owner a lot of money on gas.
4. Toyota Tundra
Used versions manufactured five years ago may cost as much as $10,000 to $18,000. People who want to purchase this car can choose between a two- or four-wheel drive. It has great V8 engine and drivers can easily maneuver it despite its size. Users complain that the rear doors are small, though, and that the design is not smooth enough. The interior of this pick-up is roomy and comfortable.
5. Toyota Sienna
The latest used model of this car may cost anywhere from $22,000 to $32,000. If the would-be car owner is looking for something cheaper, then he can purchase used Sienna which was manufactured in 2007 or 2008. This minivan is spacious enough for families and can accommodate up to eight people. It is powered by a V6 engine and features a smooth ride.
Buyers may consider one of these cars if they are applying for used car loans and looking for a used, but durable vehicle. Refinance car loan applicants who own any of these cars are lucky and should seek the cheapest new and used car loan companies who can offer them more affordable rates.
