<p>Why Buying a Used Car Might Be the Smarter Choice</p>
<h2>Why Buying a Used Car Might Be the Smarter Choice</h2>

<p>When it comes to buying a car, shiny and new isn&rsquo;t always the smartest route. In fact, purchasing a used car often makes more financial and practical sense. Here&rsquo;s why going the pre-owned route might be the better option for you.</p>

<ul>
	<li>
	<h3>1. Avoid the Depreciation Hit</h3>

	<p>The second you drive a new car off the lot, it loses up to 20% of its value. Within the first year, it can lose as much as 30%. With a used car, the original owner has already taken that depreciation hit&mdash;so you&rsquo;re paying closer to the vehicle&rsquo;s actual value.</p></li>
	<li>
	<h3>2. Lower Insurance Costs</h3>

	<p>Insurance premiums are typically lower for used cars. Since the car is worth less than a new one, insurers take on less risk, and that savings gets passed on to you.</p></li>
	<li>
	<h3>3. More Car for Your Money</h3>

	<p>Your budget stretches further with used cars. That means you might be able to afford a higher-end model or one with more features than if you bought new.</p></li>
	<li>
	<h3>4. Slower Value Drop</h3>

	<p>Used cars depreciate more slowly than new ones. This means that if you decide to sell or trade it in later, you&rsquo;ll lose less value than with a newer car.</p></li>
	<li>
	<h3>5. A Wider Selection</h3>

	<p>When you shop used, your options aren&rsquo;t limited to the latest models. You have access to a broad range of makes, years, styles, and price points&mdash;giving you more chances to find the perfect fit for your needs and lifestyle.</p></li>
</ul>

New car or used car what is better? Mesa used cars better than new cars.

Why Buying A Used Car Is Better Than Buying New

<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Navigating Car Loans: Your Guide to Proof of Income &nbsp; &nbsp;</p>
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<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>
<h2>Navigating Car Loans: Your Guide to Proof of Income</h2>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>Understanding the world of car loans can be daunting. Questions like &quot;What do I need? Will this work? Why won&#39;t they accept this as proof of my income?&quot; are all too common. Hidden Gem Auto is here to simplify the process with a clear list of what you need for proof of income and why it&#39;s important.</p>

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<h2>Starting with Proof of Income</h2>

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<p>Proof of income can be both the easiest and the hardest part for many applicants. Whether you&#39;re meticulously organized or more laid-back with your finances, we&#39;ve got you covered.</p>

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<p><strong>NOTE:</strong> These are general guidlines but every situation is different. Be sure to reach out to a Hidden Gem Auto Sales so our team can guide you to the right documents.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</p>

<h3>1. Paycheck Stubs</h3>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>Paycheck stubs are the most straightforward and simple form of income verification a lender will require to approve your loan.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>Why? Lenders review your total income for the year, also known as your &quot;gross income&quot; or &quot;YTD&quot; income. They&#39;ll divide this figure by the number of months in the current year up to today&#39;s date, or from your start date at a new job to today.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p><em>Note: You can use physical check stubs or print them from services like ADP.</em></p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</p>

<h3>2. Bank Statements</h3>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>Another method is verifying the actual deposits in your bank account.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>This approach works well when done correctly. It&#39;s calculated similarly to paycheck stubs but typically over a three-month period. You&#39;ll use your three most recent bank statements, and the lender will sum the deposits (excluding transfers from other accounts) and average this over three months to determine your current income.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>This method can be less precise than paycheck stubs, as it may not accurately reflect seasonal fluctuations in income. If you&#39;ve had a particularly good or bad three months, you might consider providing statements for the entire year to better average your income.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;</p>

<p><strong>Quick Tip:</strong> If you&#39;re planning to purchase a car soon, make sure to deposit all your income into a bank account to ensure it&#39;s considered for your loan.</p>

<p>&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>Stay tuned for more insights on navigating car loans and making the process as smooth as possible.</p>

<p>&nbsp; &nbsp;</p>

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