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Paducah Used Car Advice Chip Wynn Paducah KY

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Common Sense Advice

If you've decided to buy a used car, you've already made a smart decision.

You can get a car that's as good as a brand-new car, without suffering the depreciation that affects new car buyers. Used vehicles - even only one year old - are worth 20 to 30 percent less than new. Many times a vehicle that sold for $30,000 new can be bought two years later, with around 30,000 to 40,000 miles, for about $15,000 or so.

But there are other good reasons to buy a used car:

  • Buying a used car means you can move up in class
  • You'll save money on insurance.
  • Unlike new cars, which are priced to the penny, bigger bargains are possible for the smart used-car shopper. Furthermore, the classic reasons to avoid used cars - lack of reliability and the expense of repairs - are less of an issue. Consider this:
    • Used cars are more reliable today than ever before.
    • Many used cars are still under the factory warranty.
    • Certified used cars include warranties
    • The history of a used car can easily be traced using the VIN number.
    • Financing used cars has never been easier with dealer financing available.
    • The money saved by buying a used car can be invested or saved to use on items which appreciate - like real estate.

When you decide what kind of vehicle you want, come see Chip Wynn.

Chip Wynn offers the best variety of clean used cars, Trucks, & SUVs in the Paducah area.

Click here to see the inventory.

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Click to hear what Chip Wynn has to say about financing

The smart shopper will consider how to finance the car she wants to buy at the beginning of the shopping process. This will avoid unpleasant surprises later in the game. And, by tackling this question before getting around all that shiny metal and chrome, you can make an unemotional decision that fits your lifestyle.

Monthly payment.
If you are going to take out a loan, how much can you afford to pay each month?

Down Payment.
How much cash can you put down to reduce your monthly payments?

Purchase price of the car.
The first two questions will produce the answer to this final question. We've made this easy for you by creating the Affordability Calculator to see how much your monthly payment should be.

You have three ways to pay for your used car:

Need we say more? Money talks — and you-know-what walks.

Financing through the dealer.
This can work for some people, depending on their credit scores. Also, by prearranging financing through an independent source, the dealer may sometimes offer to beat the rate with a low-interest loan.

Chip Wynn offers special dealer financing. If you have had some credit problems in the past but now you have a job and are paying your bills on time, stop by and ask Chip about the special financing.

Click here to hear what Chip says about his special financing offer.

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A word of caution.

If you owe more money on a vehicle than it is worth, that’s called being upside down on your payments and that is a poor time to trade that one in on another one. You’ll get a much better deal if you sell your old car yourself, and then buy the newer vehicle outright without the trade-in.

Always consider this question when you want to trade: What is this car worth if I decide to sell it? Lots of “things come up”, so could I get out of it what I owe against it?

If so, that is a “good deal”. If not, then you need to use much caution. If you owe $12,000 on a pick-up truck that is worth $8000, when you trade, you just added $4000 to the cost of the newer vehicle. Bad move. It’s best sell the truck for the $8000, then take $4000 out of your savings and pay the bank the rest of the money. Then go buy the vehicle you want. Click here for the best place to find a car or truck in Paducah at a great value.

Many people want to trade because of poor gas mileage. Let’s say you have a gas-guzzler that gets 15 miles per gallon, and you want to get a car that gets 30 miles per gallon. If you owe $20,000 on your vehicle, and you find that your vehicle is worth $10,000, that is a poor time to trade.

To find out what your vehicle is worth, click here.

If you are not sure whether the deal you are thinking of making is a good one or not, click here to hear what Chip says.

Most consumers want to know how to buy the vehicle of their choice at the best possible price. There are some advantages as well as some pitfalls when shopping for a used car. With improvements in the quality of automobiles over the years, a well-maintained car should remain reliable for at least 10 years, and way over 100,000 miles.

The U.S. Department of Transportation reports that the average life span of a vehicle is 12 years, or 128,500 miles. Surveys have shown that, on the average, a person trades in or sells a car when it is only 4 1/2 years old, with just 41,000 miles on it. That leaves a lot of good cars out there with plenty of life left in them. If you are looking for a newer model, buying a used car of the same style that is only a couple of years old can really be a good deal.

The biggest percentage of a new car’s value is lost in the first two years of ownership. By the time a vehicle is a couple of years old, any minor problems should have been discovered and corrected.

For a great selection of one or two-year-old vehicles from a dealer you can trust, click here.

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Pricing a Used Car

With the average price of a new car increasing every year, it is not surprising that the fastest growing segment of the auto industry is the used car market. In the past decade, used cars have become increasingly better values. Buying a car that is just a year or two old can save tens of thousands of dollars over the price of a new model, especially as the price of new cars keeps increasing.

Decide on the year, make, model and options you desire in a vehicle, then check out our inventory.

Do you need a family vehicle, or an economical model for a college student? Also, decide what accessories you need or would like to have. Once you have decided on a specific model, it is a good idea to have a second or third choice in mind.

Consumer Reports publishes excellent information on both new and used cars, including maintenance and repair information. Narrow your choices of vehicles as much as possible. Pay attention to:

  • visibility,
  • safety features,
  • comfort,
  • ride,
  • and any other items you feel are important.

To check the recall record of a vehicle, call the U.S. Department of Transportation Auto Safety Hotline at (800) 424-9393. They will tell you if a car model has ever been recalled, and will send you information concerning that recall.

In addition, via the Internet, you can obtain recall or technical service bulletins on vehicles at http://www.alldata.tsb.com.

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Price Guides

A variety of price guides are used by lenders, dealers and individuals to determine the value of used cars. Check the N.A.D.A. (National Automotive Dealer Association)’s Official Used Car Guide, Southeastern Edition for the book value on your trade-in. This book can also be found in public libraries, as well as local banks and credit unions. You can find it online here. It is published monthly by the NADA and provides average trade-in, wholesale, loan and retail prices for nearly every car sold in the last 7 years.

Such books are not meant to provide a definitive price but to serve as a refernece point for negotiating with the seller. This information can be obtained through the reference section of your public library, or online, at no cost to you.

Check the classified ads in the local newspaper to determine what advertisers in your area are asking for the type of car you want. The difference between wholesale and retail value will be your bargaining range.

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Check with your insurance company for a quote on the vehicle you want to purchase. Can you afford to pay insurance and the car payments? Also, be sure to allow a little "extra" in your budget for unexpected repairs.

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Where to Buy

When purchasing a vehicle from a private individual, there are no warranties of any kind. It is strictly "buyer beware". In addition, the buyers will have to provide their own financing for the vehicle, or pay cash.

Your best choice for where to buy in Western Kentucky is Chip Wynn. Chip Wynn has a reputation for "Doing What's Right".

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Tax, Tag and Title

Dealers can only charge the actualy amount of fees paid for tax, tag and title transfer. Generally, the tax, tag and title fees are not included in the contract. However, some dealers will charge a processing or handling fee. If they do, it must be separately disclosed. Again, make sure you understand all the terms of the contract.

A licensed dealer is required to transfer the tag and title within thirty days. If a dealer issues a second temporary tag, the consumer should start asking questions.

Be sure you have proof of insurance. Most all states have laws requiring all vehicles licensed within the state to have insurance. Without this proof, the dealer cannot complete the transfer of title and registration into the consumer’name.

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Declining Value

Almost every car loses value as it ages. Large luxury cars and subcompacts tend to depreciate at the fastest rate. Domestic cars tend to depreciate faster than comparable imports.

Used cars with the highest resale value are typically best-selling new models with desirable options like air conditioning, power steering, and cruise control. If you end up paying a little more than you had expected for that perfect used car, it is not the end of the world. In the long run, you are much better off with a car that you are happy with, rather than one that you saved a few dollars on.

For a vehicle you’ll be really happy with, see Chip Wynn in Paducah!

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