There are two big problems when buying a car - that, above all others, are absolutely maddening. The first is trying to get good financing on a car that isn’t full of fees and steep interest rates and based on information that ought to be irrelevant to buying a car. The second is trying to figure out when the best time to sell or trade in your used car actually is. How do you know its value? How do you know when the market will be the best?
These problems have frustrated car buyers for decades, and finally a combination of technology and disruptive business ideas is making a change to the way that cars are bought and sold. And that is Carputty.
At Carputty, we look at one thing when we’re figuring out how much you can borrow: you. The car is a factor, but unlike traditional lenders, it's not the primary factor. That doesn’t enter into the calculations of how we figure out what interest rate you’re going to get. Our interest rates are based on your personal financial information, things like income and credit score. They’re never based on external factors.
And more importantly, when you get a Carputty Flexline offer with an interest rate attached, that’s the deal--and it’s a very good deal. When you go to the dealership and tell them that you have the financing all lined up, they’ll probably say, “Well let’s see if we can beat it”--they want to draw you into another one of those endless back and forth loops. But you can tell them “No, this is the lowest rate available and I am 100% confident in Carputty.” That’s it. You fill out the paperwork, show proof of insurance, and you get the keys to your new car.
And did we mention that this is done with a soft credit pull? That, as opposed to a hard credit pull, means that the credit pull will not affect your credit. If you’re in the market for a new car and you go to multiple dealerships and they all pull your credit to see what rates you can expect, your credit score will DROP. But Carputty exclusively uses soft credit pulls until you are approved and accept Carputty Flexline as your car financing.
Really, it’s amazing that car financing isn’t always this simple.
But that’s not all! Carputty will consolidate all of your car loans into one monthly payment, whether you have two or five cars in your household. They will all get the same treatment, and you know already that you are getting rock bottom interest rates based on your good income and credit score. So there’s really no question which car financing you should choose.
Sometimes financing a car means that you’re needing to sell your existing car or trade it in. There is always the question of how you know the value of the trade-in--do you just take the dealership’s word for it, knowing that it’s in their best interest to give you the lowest trade-in value they can get away with? Or do you go online and look for similar cars to yours that are currently on sale and try to figure out the price. Or, getting a little more accurate, do you turn to Kelley’s Blue Book?
The answer is that none of those things are the answer, because what all of them do is show you a single snapshot of a moment in time. They show you what your car is valued at right now, today, in this current market. They DON’T tell you what your car is going to be worth three months from now or two years from now None of these systems are built to show you what the future value of your car is.
But what if you could accurately predict the time when your car is at its best value, the best time to sell it? Remember: cars do not depreciate in a linear line. This means that they don’t lose $250 or $400 of value every month and exactly that much over and over until they are worth nothing. No, the depreciation of a car moves in a wavy line. This is because there are certain seasons of the year when your car is going to be more valuable. And there are certain milestones that certain makes and models meet after which they take a steep nosedive.
If you can know with certainty when your car is going to be at the perfect point to sell or trade-in, then you can maximize your profit, meaning that you’ll have more money to spend on your next car, meaning that your payments will be lower, or your term will be shorter.
Take a look at the V3 Valuation tool right now and plug in your car’s make, model and mileage, and look at the graph it presents to you. It will show you periods of time when your car stays about the same price for several months, and then it will show you periods of time when it descends rapidly. Knowing this, you can make some great car selling decisions.
If you know the right time to sell your car down to the month, thanks to the V3 Valuation Tool, you will be able to get the best possible price for your trade-in. And if you combine the best possible price for your trade-in with the best possible interest rate for your car loan, then you have just won. You have beat the battle of car buying.
This is what Carputty does for you: it makes car buying the best experience that it can possibly be and makes your experience in driving out of that dealership the happiest it can be. No need to second guess your decision when you know you’ve made the shrewdest business deal you’ve ever made with a car.