Do You Need Full Coverage on a Used Financed Car?

Car finance paperwork with little blue car

Naples drivers browsing used vehicles have an option for used car financing at Vanl Ward Cadillac. But do you need full coverage on a used financed car? While coverage requirements are more lax at the state level, many lenders will want you to have used car coverage. Our finance center explores how to finance a used car and more below!

How to Finance a Used Car and Get Coverage

When you finance a new or used car in Naples or Fort Myers, the state may not oblige you to get coverage. But the bank or other lending entity that secures your finance deal will probably require some form of coverage. This helps mitigate some of the risk they are taking as financiers.

When you apply for financing at a local dealership, you’ll work out a deal for financing. For example, a 36-month finance agreement means that the lender has the deed to your vehicle for 36 months. Do you need full coverage on a financed used car that entire time? It’s likely that you’ll make an agreement for coverage over the full term of the finance agreement.

Know how to finance a used car? There are a few materials to bring with you when you head to the lot. If you have these, there’s a good chance you can work out a deal:

  • Valid Driver’s License
  • Valid Car Insurance Card
  • Any supporting financial documentation (i.e. last two pay stubs)
  • Any existing vehicle documentation for your current vehicle (if applicable)

How Many Years Can You Finance a Used Car?

So, for how many years can you finance a used car? When you’re at a Ft. Myers-area finance center, you’ll be negotiating a deal with them. The length of your finance term will be determined by your credit score, the cost of the vehicle, the cost of coverage, and other factors.

Check out an online finance application to start planning on your payment plan before you connect with a finance center.

Financing A Used Car with Val Ward Cadillac

At Val Ward Cadillac, we are dedicated to simplifying the used car buying process. With pre-owned vehicle specials and the resources at our finance center, we help Naples drivers finance vehicles everyday. Please feel free to contact us with any questions about used car financing and more.

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12626 S Tamiami Trail, Fort Myers, FL, 33907
Val Ward Cadillac 26.55877, -81.87245.