How Used Cars in Orlando Make the Best Choice for Second Vehicles

There was a time when if more than one adult lived in a house there was a car for each of them. With the shifting economy, however, that additional car has become a lifestyle choice, not a given. However, consumers still want the convenience of a car that they don’t have to share with someone else and in an area like Central Florida, with the great attractions and recreation possibilities (as well as a vibrant Spring Break), finding a way to work in a second car into their life still is a priority. It is one of the reasons that purchasing a used car in Orlando to hit all of the great spots and gain a level of freedom is so appealing.

Shift in car purchasing

As early as 2011, households with multiple adults normally had a car for each person of driving age or, at the very least, more than one vehicle at their disposal. It’s something that has been the norm for American families since they began truly embracing the freedom and convenience provided by owning their own transportation.

By 2012, the multi-car trend was seen as changing and it has continued to shift moving forward. The recovery of the economy has led to less rather than more, in many cases, because consumers remember the uncertainty that made them tighten belts and adjust spending habits. They are acutely aware that anything can change and in order to get ahead of that, buying or holding onto an additional vehicle has seemed frivolous.

That all makes great sense, but with the creation of the Internet and the ability to gain information on just about anything, finding a good second car that won’t break the bank and will be reliable is easier than ever. It offers a level of confidence and comfort in moving forward with this kind of purchase.

Need vs. Desire

In earlier days, a second car was viewed as a necessary evil. Two adults would mean two cars, because it was convenient. To have to rely on someone else in the home for transportation felt unrealistic and if residency is in an area where public transportation isn’t reliable, it was seen as untenable. That may not necessarily be the case anymore with all of the unique options that have come available for alternative ways to get around, but with the upsurge of quality used cars for prices consumers can afford, that second car is still a viable solution.

For many families, the wish to have multiple cars outweighs all of the factors for not owning it. That convenience, again, ranks high as well as the desire for freedom to come and go on their own schedule. There is also a bit of status to having another car, a show of not just financial stability, but economic wisdom. That can’t be overlooked in the equation of whether a second car is needed or desired.

When purchasing a second car, most families gravitate toward a pre-owned vehicle, which is also what makes used cars in Orlando a huge commodity. Additional vehicles are usually viewed as something that is reliable without being budget fracturing, easy upkeep and insurance friendly. A high demand to be able to pay for them in cash comes into play so as not to have a second car payment. With that in mind, lower car payments are obviously a big selling point and the car purchaser is going to look for something that, again, makes sense for their budget and their lifestyle.

On the uptake

That second car for the family may not be as big a priority as it once was anymore, but it definitely hasn’t disappeared. It is less a decline as it is something that is being given the time for real thought and consideration rather than an impulse purchase. This simply means that getting that additional car is done with a lot of research and a more informed mind than ever before.

 

Keyword: used cars in Orlando

 

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First Time Car Buying at a Quality Car Dealership in Orlando

Like so many things in this millennium, the face of first time car buying has changed. It’s no longer the fresh young teen anxious to get behind the wheel. Because of this shift, how people are going into a new vehicle purchase has transformed as well.

No longer seen as a necessity

Owning a car when a person turns 16 is no longer viewed as a necessity. Not just because it may be expensive to do so or that many younger potential drivers are waiting longer to get their license (which they are), but also because there are so many viable riding and driving options available today.

The potential first car buyer is piggybacking on the car that may already be in their home or carpooling with friends or renting from many of the online car rental sites around. Even Uber allows for leasing of their cars to those who do not own one or whose vehicle isn’t up to speed for Uber inspections. Therefore, with all of these options available to new drivers, the thought isn’t about the excitement of a first car but “who needs a car?”

With that in mind, when the time comes to actually purchase a first vehicle, buyers are now coming with more information at their fingertips. They seek a quality dealership in Orlando, because they’re looking for experts in their field and want to purchase from someone they know will follow through on their needs in the way they want.

For many people, this is the single largest purchase they’ve made to this point. There will be a lot of research done prior to going to a dealer in order to be armed when walking in the door. The Internet has created a great source for discovery. The possibility that a new car buyer knows exactly what they want prior to purchase is higher now than ever due to the ability to do their own extensive price shopping and brand research in one location.

And, yet, this is also a group who keeps their options open, because what may seem like a good idea is always one they are willing to rethink when faced with the actual proposition of purchase. They are savvy, and it’s not just age based. In today’s world, whoever is on the lookout for something new—Boomer, Gen X, Gen Y—is going to arm themselves with as much information as possible, which means working with a quality car dealership in Orlando is that much more important.

Personal vs. Intimate

At one time, going into a car dealership was expected to be overwhelming. It took several hours of negotiating, and was cloying and stressful. It’s what led to the advent of dealers who don’t haggle. However, there’s still a desire for a personal touch, which doesn’t mean being overly effusive or too intimate. It means using an established expertise to discern and recommend the cars that will best suit the buyer, because regardless of what they think they want, buyers have said they will happily shift their interest to something that feels more in line with what they ultimately are looking for—cost, function, reliability, upkeep, etc.—if they feel the dealer understands them and quickly reacts with strong suggestions.

Decision makers

Today’s buyers are waiting until they are older (which, in turn, may merely mean wiser and more informed) and more settled which makes them easier to work with than ever before, because when they say they are ready to buy, they really are.

 

quality car dealership in Orlando

Common Car Buying Mistakes at Dealerships in Orlando

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Buying a car is not quite like walking into a clothing store and buying a suit or a dress. It requires special skills and an understanding of the car buying process.

Mistakes people often make at a dealership in Orlando

Buying a car can be an exciting process, but it is also fraught with pitfalls that can cause a car buyer to end up paying more money than he or she need to pay or being unhappy with the car purchase. Here are some of the common errors car buyers make that can be avoided:

  1. Favoring one particular model of car and excluding other cars from a search can blind a buyer to alternatives that may be more suitable. This is very easy to do when a buyer only considers the aesthetic of a car and causes them to lose sight of their particular needs.

Being only interested in one particular model can also make a buyer forget to research the vehicle’s reviews, ratings, safety, reliability and pricing information.

  1. Some buyers elect to skip the test drive because of how good a car looks, but the test drive is a very necessary part of the car buying experience. Different models of cars fit different people. There are small cars that tall people cannot get more than one leg into. There are cars whose seats do not move far enough forward for short people. Some cares are suited for families, while others are not.

It is important to allow at least 30 minutes for a test drive. This allows enough time for the buyer to consider the following:

  • To familiarize oneself with the controls of the car and see if they are a good fit
  • To listen to the engine under various conditions and see how well it performs and how much power it has on hills
  • To determine if the car is comfortable for long distance driving (if it is uncomfortable for the 30 minute test drive, it will definitely be miserable on a long trip).
  1. Many car buyers have no idea how to negotiate a price on a car. The negotiations need to take into account how much the dealer has invested in the car rather than what the sticker price is. This is where the buyer needs to do a little homework in looking up the make and model, and VIN number of the car to determine the history and status of the vehicle. Before making a final decision, the buyer needs to have all available information at hand, including knowing the value of the car to be traded in.
  1. It is important to be aware of the value of safety features on a vehicle. Advanced safety features that research shows have prevented serious injuries in accidents include:
  • Antilock braking systems
  • Side air bags that protect the head
  • Electronic stability control

With the right knowledge, a car buyer can have an exciting time buying a car from a good dealership in Orlando.

Buying a Dependable Used Truck in Orlando

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Pickup trucks are great for carrying things, hauling things, and towing things, and they need to have an almost indestructible engine, drivetrain and transmission. There are several reviews that evaluated trucks to see which ones held up the best as used purchases.

Autobuytel’s review

Autobuytel set out to determine which trucks break down most often and which ones don’t. By their measurement standards, they determined that the very best used truck in Orlando to buy is the Honda Ridgeline, which they consider to be the Japanese equivalent of the Chevrolet’s El Camino.

The other nine models they recommend can tow, carry and haul even more things than the Honda Ridgeline, and they have great reviews for dependability of their transmissions, engines, and drivetrains. They include:

  • Chevrolet Avalanche, model years 2009-2013

This handsome-looking truck carries 5 or 6 passengers in a crew-cab and has a short-bed pickup truck rear. The back cab wall is removable and the back seats fold down to extend the cargo bed’s length. This truck is a great combo package that offers both the passenger capacity of an SUV and the load capacity of a truck.

  • Chevrolet Colorado, model years 2009-2012

This is a small truck that was discontinued in 2012 and reintroduced in 2015 that was quite fuel efficient. A reliable vehicle, it was available in regular, extended and crew-cab sizes with options that could take it off road or keep it street smart. Three different engine sizes offer varying hauling and towing capacity.

  • Ford F-150, model years 2005-2014

The four-wheel drive models made before 2010 need to be avoided, but the F-150 otherwise is the best-selling truck in the US because of tis dependability and model choices.

  • Ford F-Series Super Duty, model years 2011-2014

This is a heavy duty pickup truck with a PowerStroke turbo-diesel engine that hauls up to 24,500 pounds and tows up to 7,110 pounds.

  • GMC Canyon, model years 2009-2012

Like the Chevy Colorado, this is a compact pickup truck that is very mechanically reliable. It has exceptional carrying and towing capabilities.

GMC Sierra, model years 2008-2103

The Sierra’s owners seem happier with this truck than Chevrolet’ Silverado’s owners even though they are mechanically identical. There is even a gas/electric Hybrid model.

  • Nissan Frontier, model years 2009-2014

The Frontier is larger than the Colorado and Canyon but smaller than the big trucks. The Frontier’s rugged presence and excellent construction are filled with of power and ability, and have remained unchanged through the 2015 models.

  • Toyota Tacoma, model years 2005-2014

Toyota trucks are workhorses, and the Tacoma is no exception. A mid-sized pickup truck, it can carry 1,520 pounds and tow 6,500 pounds.

  • Toyota Tundra, model years 2007-2014

The Tundra is Toyota’s third try at building a full size truck, and even though it has not sold well, it is a heavy duty workhorse of a truck and very dependable.

Other reviewers seem to agree with this list, adding:

  • 2001 Dodge Ram 2500
  • 2005 Dodge Dakota
  • 1999 Ford Ranger

With this list in hand, finding a dependable used truck in Orlando will be easy.

 

 

Finding the Funds for Used Car Buying in Orlando

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When used car buying in Orlando, having the proper funds in place before committing to a transaction will help it go faster and smoother. If a buyer isn’t walking onto a lot with cash in hand, one option for getting funding is from the dealership itself. However, for buyers with little or poor credit, this may not be a viable option, depending on the financial institution the dealership is using.

How Lenders Assess Good Credit for a Car Loan

According to Carfax.com, the FICO credit score is the one used by the majority of US lenders, and it is based on information gathered from Equifax, TransUnion, and Experian credit reporting agencies. FICO scores fall somewhere between 300 and 850, and every consumer has a FICO score.

Different lenders have different criteria on which they base their decisions to grant credit. Experian says that a credit score above 700 reflects good credit management on the part of the borrower. There is, unfortunately, no minimum credit score for being able to get a loan to purchase a used car. Different lenders have score requirements varying from 640 on up for used car loans.

When Borrowers Do Not Have Good Credit or Have Little Credit

There are lenders who will offer funds to people with less than wonderful credit. These loans are referred to as subprime loans and they are not available from every lender. Those in the process of used car buying in Orlando may even be able to get a subprime loan directly from the dealership.

Subprime loans are available to people who have credit scores from 501 to 600, and borrowers in this category get charged higher interest rates, often 3 to 5 times higher than borrowers with good credit. This can mean the difference between a 2 percent loan for borrowers with good credit and a loan rate of from 6 to 10 percent for borrowers with marginal credit.

The specific interest rate that is tacked onto a subprime loan varies from lender to lender, and even within the same lender, based on the lender’s perceived risk with a particular borrower. The standards lenders use to determine risk categories take into account the loan size, how the loan repayment plan is structured, and who the originator of the loan is.

What to Expect from Lenders When Used Car Buying in Orlando

There are many elements of a borrower’s life that lenders assess when determining whether a loan will be repaid and whether a borrower is a good loan risk:

  1. Whether credit card balances are low is one assessment factor. A borrower’s credit score is based in part on his or her ratio of outstanding balance to available credit. The amount of credit cards carrying a balance is another factor that affects a credit score and how much of a risk an applicant poses to a lender.
  1. Whether the borrower pays bills on time is also used to evaluate whether a borrower rates a prime loan or has to settle for a subprime loan. Even fines from overdue library books that go unpaid for a long time can be reported to a credit reporting agency and taken into account by a lender.
  1. Missing payments, charging more than usual, or paying less than usual are also big red flags to credit bureaus and lenders.

A quality car dealership in Orlando will evaluate credit bureau information and determine what type of loan a borrower can get.