Whether you’re looking for a new car to replace an old one, an additional family vehicle, or a toy to joyride in on occasion, purchasing a vehicle is a huge financial responsibility. Even if you’ve managed to save enough money to buy a car outright, there are associated costs of car ownership that you need to fully understand before you commit. Before driving off the lot or signing on the dotted line, there are several questions you want to ask the dealership to ensure you’re making the most economically-wise decision. What’s The Total Cost of the Car? Car dealerships are masters at luring buyers to their lots. They use aggressive marketing tactics and tricks to encourage those interested in buying a car to come in. This can include advertised deals like no money down, no interest for several months, or even low monthly payments. As you look around the lot for cars within your price range, make sure that you find out what’s included in the sticker price? … [Read more...] about 8 Financial Questions to Ask When Buying a New Car
Insurance when buying a used car
Brooke Crum Springfield News-Leader Published 11:38 p.m. UTC Jun 27, 2018 Shopping for a car can be stressful, but shopping for a used car is probably even more difficult. While used cars tend to be cheaper, they come with many potential pitfalls. What's the vehicle's history? Has it been wrecked? Has it been properly maintained? The Better Business Bureau recently released some tips on how to buy a used car. The News-Leader compiled that information alongside recommendations from a used car dealer. BBB highlights a few things to do before buying any car, new or used: set a budget, research models, compare prices, choose a warranty and know how you will pay for the car. Where to buy your car Even more than with new vehicles, you have many options on where to buy a used car. New and used car dealerships typically sell used vehicles that have been rigorously inspected. Sometimes they offer warranties, as well, which you won't get from a private seller. BBB recommends … [Read more...] about How to get the best deal on a used car (and not get scammed)
At first, dumping your old car might seem like a no-brainer — and you can't help picturing how good you would look in that new car. But automotive experts say you'll almost always come out ahead by fixing old faithful. There are, however, other important considerations when deciding whether it's time to say farewell."Even though the repair cost might hurt, you really have to think about buying a new car as a tremendously more expensive proposition," says Jim Manelis, head of direct lending for Chase Auto Finance.At the very least, for a reliable used car, expect to spend a minimum of $2,000, plus tax and registration fees, says Mark Holthoff, editor at Klipnik.com, a community website for used car enthusiasts. Depending on the severity of your car's problems, "You can buy a lot of repairs for that kind of money," Holthoff says.Of course, there does come a point when it isn't worth pouring money into a beater."Start with the scale of the repair," Manelis says. "Is it a $1,200 fix … [Read more...] about Should you fix the old beater or buy a newer car?
If you are shopping for a used car, buy it now for the best deal. That's the word from analysts at Kelley Blue Book, who say you could pay 4 percent to 6 percent more for that car if you wait for the first three months of 2012. Used car prices went for a roller-coaster ride in 2011. With gas prices hitting $4 a gallon early in the year plus shortages of some new cars resulting from the Japanese earthquake and tsunami, used car prices surged. High-MPG cars rose especially quickly; shoppers were eager to boost their mileage and cut gas costs. But after peaking in June, gas have fallen back below $3.50; used car prices overall are down 10 percent; and those for high-MPG cars have plummeted by 20 percent. Hottest new small cars for 20125 used cars NOT to buyGas Price Relief: New Honda Cheaper to Drive Good deals abound now in this low-demand period when most people focus on shopping for holiday gifts instead of cars. But that traditionally changes with the start of a new year and … [Read more...] about Why next year’s too late to buy a used car
(MoneyWatch) Despite strong new car sales, more shoppers are also considering certified used cars. AutoTrader.com, the largest web site for car ads, reports that five percent more visitors to the site checked out certified cars in April than at the start of this year. When do certified used cars make financial sense? With used-car values overall at near-record highs, you have to shop carefully. But if you can get a carefully inspected vehicle with a manufacturer-backed warranty for at least $5,000 less than a new car or monthly payments close to $200 lower, it is worth consideration, says AutoTrader.com editor Brian Moody. For most brands, certified used cars involve cooperation between manufacturers and their dealers. The dealers select relatively low-mileage cars, often returning from three-year leases. Then they give those cars a detailed inspection as stipulated by the auto makers. Certified cars usually carry a new warranty backed by the manufacturer. 5 used cars NOT to … [Read more...] about When are certified used cars a good deal?