Auto News Financing
Cleveland Scrap Cars will buy scrap cars with junk car removal services included. Those seeking a price for scrap cars are encouraged to contact us 6 days a week for a quote from our salvage car buyer. Our “cars for cash” program is quick & simple, allowing you to get cash today! We strive to have a positive impact on the local environment for the preservation of the important resources.
The following information is from the AFSA report titled ‘Implications for the Indirect Auto Finance Market’ as follows: “Auto funding products vary between lease & purchase agreements. Most auto finance leases are “closed-end”, basically a long-term rental, for a pre-determined length of time for a fixed monthly payment. After this period the vehicle is returned and may have a purchase option. Leases are focused in the new car market and are often subsidized by the auto manufacturer. During the Great Recession, lots of lenders eliminated or reduced the availability of leases, but lease rates have recently rebounded. In 2012, leases accounted for about eighteen percent of new vehicle sales.
Vehicle purchasing agreements are functionally installment contracts that specify the amount financed, the contract/loan term, and the annual % rate (APR). Usually, a fixed monthly payment is established. The auto financing marketplace has (4) primary members: customers, lenders, dealers & manufacturers, each with their own objectives.
In 2013 about 34M buyers financed a vehicle transaction. According to Ward’s Auto, the median income for buyers of 2013 model cars was in excess of $90K, and approximately 1/3 of such auto buyers are over sixty years old. Males accounted for 85% of light-trucks purchased that year. Beyond demographics, consumers have their preferences & various constraints that dictate vehicle purchasing & financing decisions & prices such as:
- Vehicle class, make, model & options
- Purchasing vs. leasing
- How long they intend to retain the car
- Previous auto buying experiences
- Needing to sell a current vehicle
- If there is a trade-in
- Cash on hand for down payment
- Monthly budget allocation
To view the report in its complete format, visit this site: http://www.crai.com/
Where to get a price for scrap cars?
When we buy cars for cash, free scrap vehicle pick up is already factored into the price. We buy scrap cars & take great pride in offering the fastest vehicle retrieval and excellent junk car prices. When looking for junk car removal, remember to seek a strong, local service provider. Our salvage car buyer is standing by @ (216) 282-JUNK to provide a junk car quote for you.