Tips for First-Time Car Buyers

Trading in your car can be a smart way to reduce the cost of your new vehicle purchase. By applying the trade-in value to your next car, you can lower the loan amount, reduce monthly payments, and potentially get better loan terms. Here’s how to maximize your trade-in value and lower your loan amount. 1. Determine Your Car’s Trade-In Value Use online valuation tools like Kelley Blue Book to estimate your car’s worth. It’s important to get an in-person appraisal to get determine your vehicles value. 2. Prepare Your Vehicle for Trade-In Clean Inside and Out: A well-presented car can make a better impression and potentially increase its trade-in value. Fix Minor Repairs: Address minor issues like scratches, dents, or burnt-out lights to improve the appraisal value. Provide Maintenance Records: Showing a history of regular maintenance can reassure dealers that your car is in good condition. 3. Apply the Trade-In Value to Your New Car Loan Use the trade-in value as a down payment to reduce the loan amount. A lower loan amount can result in lower monthly payments and less interest paid over time. Ask about tax savings. Some states only tax the difference between the new car price and trade-in value. Final Thoughts Trading in your car can be a convenient way to lower your loan amount and simplify the car-buying process. By being prepared, you can get the best trade-in value and reduce your overall financing costs. Get KBB Trade Value The information provided is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive to provide accurate and up-to-date information, we make no guarantees regarding the completeness, accuracy, or reliability of the information presented. Any action you take based on the context of this blog is strictly at your own risk. Always consult a qualified professional or specialist for advice specific to your situation. We are not responsible for any losses or damages arising from the use of this blog or its content.

Did you know FICO scores are utilized in over 90% of lending decisions? Here’s a quick breakdown of how the credit bureau determines the FICO score: 35% – Payment History: This is the biggest factor that affects your FICO credit score. Being a few days late on a couple payments won’t be damaging, but it does affect your current status rating. Credit agencies generally use a rating scale of 1-9 to rate your status – 1 being “Pays as Agreed”. This means you’ve been paying the agreed amount by the agreed date with you and your lender. One to thirty days late on a payment brings your status rating down to a 2. If you’re looking to build your credit, the best place to start would be to obtain a free credit report. It can tell you many things about your credit, and it is very easy to see what areas need improvement. You can usually get one free one a year, pay for a monthly service, or a one time fee. Speck Buick GMC pulls from Equifax, Transunion, and Experian, these scores can differ from each other so it’s important to see all of these – especially when buying a car. Beginning the car-buying process? Fill out our credit application online to get started! 30% – Amounts Owed: The amounts of debts you have left to pay are what the credit bureau looks at to determine whether you may have too much on your plate. When looking at your credit report, keep in mind that the report generally reflects the payment balance from your last statement. Typically it defines what the lender has reported to the credit bureau. The bureau will look at how many different accounts with a debt balance you carry, credit usage percentage on your credit cards, as well as how much of any installment loans (such as car loans) you’ve paid so far. To help your score, make sure you work towards getting your debts paid off and on time before you decide on another large purchase. 15% – Length of Credit History: Credit age is not everything that determines your FICO score, but sometimes it can be the difference whether you receive that loan or not. Lenders want to see credentials of payment with a history of credit. No credit history? It can be surprisingly easy with patience and commitment to payment. Apply for a basic credit card with your bank. It’s a good idea to ask what kind of credit card is best for someone just beginning a line of credit, and usually it also comes with a small starting limit, usually around $500. Only use your credit card for smaller items or services – or just choose one thing you can pay for monthly such as a streaming service like Netflix or Hulu. Regardless of what you decide, make sure it is something that you can easily pay back. As soon as you get your first statement, transfer that full owed amount right to your credit account by the date on the statement. If you’re a first-time car buyer with no credit history, doing this 6-8 months before you decide to buy is a great way to get a head start on the car-buying process. Finally paid off that card? Consider keeping the account, especially if it’s your oldest account, as it may be an important part of keeping your credit history a positive influence on your credit history. 10% – New Credit: Like mentioned previously, patience is a key factor to building credit. It’s very important to take it one credit line at a time, and don’t open up too many credit accounts in a short period. This can negatively influence your FICO score as it also affects your history. Inquiries from the last 12 months, such as hard pulls, are considered in your FICO score. Auto and mortgage usually pull multiple inquiries, but it is a myth that this heavily affects your credit score. It may drop a bit, but many times these are treated as single inquiries. 10% – Credit Mix: Auto installment loans, mortgages, retail accounts, credit cards, and more – how many different types of credit accounts do you manage? The credit bureau will consider your experience with various credit accounts. It’s important to know having too many accounts open can present a negative outlook on your FICO scores. Compared to those with a history of successfully managing a credit card, people who don’t have a credit line can be viewed as “higher risk”. Make sure all different accounts are managed responsibly in order to keep your credit in check. The information provided is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive to provide accurate and up-to-date information, we make no guarantees regarding the completeness, accuracy, or reliability of the information presented. Any action you take based on the context of this blog is strictly at your own risk. Always consult a qualified professional or specialist for advice specific to your situation. We are not responsible for any losses or damages arising from the use of this blog or its content.

If you are searching for the best GMC Sierra deals in the Tri-Cities, WA, you are in the right place. At Speck Buick GMC, we offer competitive GMC Sierra specials every single month for Kennewick, Richland, and Pasco area buyers. Whether you are looking for a GMC Sierra lease, low APR financing, or a cash discount, there is almost always a strong Sierra deal available. Here is everything Tri-Cities drivers need to know about current GMC Sierra deals at Speck Buick GMC. GMC Sierra Deals Change Every Month One of the best things about shopping for a GMC Sierra special at Speck Buick GMC is that new offers arrive every single month. GM Financial and GMC release updated incentives at the start of every month for Tri-Cities area buyers. Those offers can include cash rebates, low APR financing, and GMC Sierra lease specials across the entire Sierra lineup. Our finance team monitors every new offer the moment it drops each month. We will always make sure you know exactly what is available before you sign anything at Speck Buick GMC. Types of GMC Sierra Deals Available Here is a breakdown of the types of GMC Sierra deals typically available at Speck Buick GMC each month: Cash Discounts and Rebates Cash rebates are one of the most popular types of GMC Sierra specials available each month. A cash rebate reduces the purchase price of your new Sierra directly before any other incentives are applied. Cash rebates can range from a few hundred to several thousand dollars depending on the model and current market conditions. Combining a cash rebate with our own dealer discounts at Speck Buick GMC maximizes your total savings on any new Sierra purchase. Low APR Financing Low APR financing is one of the most valuable GMC Sierra deals available for Tri-Cities buyers who want to finance their new truck. A lower APR means less interest paid over the life of your Sierra loan. That translates directly into real monthly savings and a lower total cost of ownership over time. GM Financial frequently offers competitive low APR rates on the Sierra 1500, Sierra 2500 HD, and Sierra 3500 HD lineups. Check our current GMC Sierra special financing offers online before your visit to see what rates are available right now. GMC Sierra Lease Deals A GMC Sierra lease is one of the most effective ways to get the lowest possible monthly payment on a new Sierra. With a lease, you only pay for the portion of the truck's value you use during the lease term. That is why GMC Sierra lease payments are almost always lower than finance payments on the same truck. GMC consistently supports the Sierra lineup with competitive monthly GMC Sierra lease specials that make this popular truck more accessible than ever for Tri-Cities drivers. Leasing is a great option if you like to upgrade to the latest Sierra every two to three years. Important Note on Finance vs Cash Deals This is one of the most important things to understand about GMC Sierra deals at Speck Buick GMC. Cash rebates and low APR financing offers are often not compatible with each other. You typically need to choose one or the other when purchasing your new Sierra. Our finance team will run both scenarios side by side so you can see exactly which option saves you more money based on your specific situation. There is no pressure and no guesswork at Speck Buick GMC. Current GMC Sierra Deals by Model Here is a look at the types of GMC Sierra specials typically available across the Sierra lineup each month at Speck Buick GMC: GMC Sierra 1500 The Sierra 1500 is one of the most frequently featured models in GMC's monthly incentive lineup. Cash rebates, low APR financing, and GMC Sierra lease specials are all commonly available on the Sierra 1500 every month. Whether you are looking at a work-ready Pro trim or a fully loaded Denali Ultimate, there is almost always a competitive GMC Sierra deal available for Tri-Cities buyers. GMC Sierra 2500 HD The Sierra 2500 HD is a favorite among Yakima Valley farmers, ranchers, and contractors who need serious heavy-duty capability every day. Cash rebates and low APR financing offers are frequently available on the Sierra 2500 HD at Speck Buick GMC. Diesel-equipped Sierra 2500 HD models may also qualify for additional manufacturer incentives each month. GMC Sierra 3500 HD The Sierra 3500 HD delivers maximum towing and payload capability for the most demanding commercial and agricultural operations in the Tri-Cities area. Monthly GMC Sierra specials on the 3500 HD can make this powerful and capable truck more accessible than many buyers expect. Contact our team at Speck Buick GMC for the most current Sierra 3500 HD pricing and available incentives right now. Why Tri-Cities Drivers Choose Speck Buick GMC for Sierra Deals There are several compelling reasons why Kennewick, Richland, and Pasco drivers choose Speck Buick GMC for their GMC Sierra deals. Here is what sets our Sierra deals apart from other dealerships in the region: We stack every available manufacturer incentive and dealer discount for the most competitive payment No markup pricing on new GMC Sierra trucks at Speck Buick GMC Our finance team shops your application across multiple lenders for the best available rate We work with buyers at every credit level including bad credit and no credit buyers ITIN financing is available for buyers without a Social Security Number Our bilingual team is available to assist Spanish-speaking customers through every step Build Your GMC Sierra Payment Online Every GMC Sierra listing on our website includes a "Personalize Payment" button. Click it to enter your down payment and trade-in information and choose between leasing and financing. Your estimated monthly payment updates in real time before you ever visit Speck Buick GMC. It is the easiest way to explore your GMC Sierra deal options from the comfort of your home. Act Before the Month Ends GMC Sierra deals reset at the start of every new month. The best cash rebates, low APR rates, and GMC Sierra lease specials are only available for a limited time each month. Do not wait too long on a deal that works for your budget. Check our current GMC Sierra special offers page online before your visit and act before this month's deals expire. Come See Us at Speck Buick GMC Ready to take advantage of the best GMC Sierra deals in the Tri-Cities, WA? Stop by Speck Buick GMC in Pasco or browse our current Sierra inventory and offers online. Our team is ready to walk you through every available trim, package, and current GMC Sierra special right now. We serve Kennewick, Richland, Pasco, and the entire Yakima Valley. Your perfect GMC Sierra deal is waiting for you at Speck Buick GMC today. Shop GMC Deals