How Much is a Used Car in High Point and Greensboro?

how much is a used carIf you’re wondering how much is a used car in the Triad, you need to consider a few factors. First, age and quality of a vehicle affect purchase prices. Second, the type of car you select matters. Third, the dealership you choose influences the price as well. At Peters Auto Mall, we address all of those factors with you.

How Much is a Used Car Worth?

First, let’s focus on the cost factor. Within that consideration, you need to understand what you can afford. Overall, the initial price doesn’t always reflect your purchase power. Initially, it’s wise to explore an average car payment.

Obviously, this begs the question: what is an average car payment? Fortunately, it’s not a one-size-fits-all answer. If it were, pricing options would be immobile. In other words, not everyone could afford the car they wish to own. However, at Peters Auto Mall, we work with you to find the best vehicle and price that meets your budget. Moreover, our wide auto-selection on our High Point and Greensboro lots and reasonable prices suit almost any bank account.

Additionally, our finance team understands how to find the best payment plan for you. Considering the average monthly payment for a new car is at an all-time high at $523, that’s helpful. However, don’t fret at that number. Our dealership has multiple pre-owned cars in great condition that will cost you much less than that. Plus, our finance department will help you figure out which financing strategies fit you best. Perhaps, a larger down payment will reduce your monthly costs. Additionally, extending your financing period from 60 months to 66 makes a difference.

Things You Should Know Before Buying A Used Car

Other things that help you understand how much is a used car worth is getting to know the vehicle itself. Obviously, many factors come into play in determining a car’s worth. Ultimately, the smartest tactic you can take is to research.

We personally research all cars on our lot with a 125-point quality inspection. Not only does this ensure a quality pre-owned car, it means you receive a safe and valuable vehicle. Unfortunately, not every dealership goes that extra mile. This is one of the reasons that purchasing a car from a reliable dealer is so important.

Speaking of dealerships, you need to research that as well. Notably, a company that stands not just behind you but with you matters. As a family-owned company, we consider our community as an extension of us. For over 25 years, we have built relationships with our customers and continue to support them with their automotive needs. In fact, we have the facts to prove it. Recently, we earned the honor of “Best Used Car Dealership in the Triad” by YES! Weekly magazine.

Financing Your Pre-Owned Vehicle

Finally, it helps to understand finance before you purchase your car. For instance, a few things that affect your final price include:

  • APR – Annual Percentage Rate, the cost of the credit extended to you
  • Down Payment – the total of the value of your trade-in vehicle plus any cash you add
  • Equity – the difference between the payoff balance of your old vehicle and its actual value
  • Finance Charge – the total expense you will have to pay for the loan
  • Term – the total number of months you will be paying for the loan
  • Total of Payments – the full amount of principal, interest, and fees paid by the end of the contract
  • Total Sales Price – the full amount of the transaction including amount financed, down payment and finance charge

If all this information feels overwhelming, don’t worry. After all, our financing department is here to help you find the best terms that work for you! We will walk you through, and explain, any information that you wish to know.

Better yet, get pre-approved before you even visit the lot! Then, come out and visit us. Or, give us a call at 336-434-1600 for our High Point location and 336-434-1610 for Greensboro.