Do You Need Full Coverage On a Used Financed Car?

Financing a pre-owned vehicle around Kansas City, MO doesn’t have to be complicated. At Aristocrat Motors Alfa Romeo, our finance team is here to help you navigate this process. Two of the most common questions we’ve been asked are, “How many years can you finance a used car?” and “Do you need full coverage on a used car?” In the following guide, we’ll explore how to finance a used car and what each step involves. Learn more below and use our online calculator to estimate your monthly payments before you agree to a plan.

How to Finance a Used Car: The Facts

So, do you need full coverage on a used financed car? Many states don’t require you to drive your vehicle off the lot with full coverage, whether buying a new or pre-owned model. However, many Wichita, KS-area lenders want to ensure their investments are sound. Most investors or banks require you to have full coverage regardless of your car’s condition.

When financing any vehicle, term agreements spotlight how long you’ll pay the lender until you receive a title. That means if you apply for financing and obtain a loan for the used model for a 36-month plan, your lender will hold the vehicle’s title for that period. Full insurance coverage will be contingent on your financial terms. In our example, your pre-owned vehicle will have full insurance coverage for those 36 months. 

For How Many Years Can You Finance a Used Car? 

Once you’ve found the right pre-owned model for your Omaha, NE-area rides, you’re probably wondering, “For how many years you can finance a used car?” When you contact our team at Aristocrat Motors Alfa Romeo in Merriam, you’ll provide some information so we can start the car-buying process. Some of the information we may need from you includes: 

• Valid driver’s license
• Valid car insurance card
• Any supporting financial documentation (i.e. your last two pay stubs)
• Any existing vehicle documentation for your current vehicle (If applicable) 

When paired with a lender, our finance staff will explain the terms the lender will offer you to finance your pre-owned model. Factors like credit and what you can put as an initial down payment will affect how long or short your financial period will be. If you have any questions on how to finance a used car, call 913-270-0499 to speak to our team!

Financing a Used Car with Aristocrat Motors Alfa Romeo

Now that you’ve learned how many years you can finance a used car for, and the insurance coverage requirements, turn to Aristocrat Motors Alfa Romeo. We’ll help you navigate the car-buying process and find the right option for your needs and budget. If you want a like-new car with the latest tech, choose one of our certified pre-owned models. Find your next vehicle near Kansas City, MO with Aristocrat Motors Alfa Romeo!