Is it possible to buy a car for less than $1000?
Buying a good used car for $200, or $500, or even $1000 is not impossible but it requires extra time looking, checking, and driving to find the jewels among the junkers.
Most cars in this price range will be older and have high mileage, and lots of wear and potential problems.
Age and high mileage, however, is not necessarily a reason not to buy. Many cars with high mileage are in great condition and can last many more miles before finally falling apart.
Buy Your Next Car Online – We Ship it to You
Many problems with older used cars can be fixed relatively easily and inexpensively. Problems with engines and transmissions are the most expensive to repair. If the only problems are things like hoses, belts, wires, brakes, or electrical equipment, these can be fixed or replaced without great expense.
Continue reading Where can I buy a good cheap car for $200, or $500, or $1000?
Will I be able to get approved for a car loan?
This question typically comes up if the potential car buyer 1) has never had an auto loan before and doesn’t know how the process works, or 2) has credit or income issues that might prevent them from being approved.
For those who are new to the car loan process, let’s briefly review how it works.
First, in order to get a car loan, you must be at least 18 years old (to legally sign contracts), have good credit, and have a good steady income.
Many young people, such as college students, who have never had a loan before may have no credit history and have little or no income. For them, if they can’t pay cash, getting someone to be a co-signer on the loan is the only remaining option.
Continue reading Can I get a car loan?
How much car can I afford to buy?
Based on my monthly income, can I afford the car I want?
This is a common question but doesn’t have a set answer.
The answer depends on the following factors, assuming you will use an auto loan to pay for your vehicle:
- price of the vehicle, including tax and other costs
- cost of full-coverage insurance, as required by your lender
- your monthly income, after taxes
- your monthly expenses
- your credit score (affects the amount you can borrow)
- the amount of down payment you can afford
Some experts say that your car payments shouldn’t be more than 20% of your take-home pay. Others are more conservative and say 10%.
Continue reading Can I afford this car? What car can I afford?
Is it possible to get a car loan with no credit?
Yes, it’s possible and, depending on your particular circumstances, you may have several options available to you.
With no credit history, you may still have a credit score, although it isn’t likely to be very high, but enough to get you in the door with a car loan.
Since there are no hard-and-fast rules for how banks, credit unions, and auto finance companies handle no-credit situations, we’ll offer a number of suggestions, but the real secret to getting approved is to try, try, and try again at different dealers and lenders to maximize your chances.
Tips for Negotiating a Used Car Purchase
Buying and negotiating a car deal is one of those things in life that most people don’t look forward to — because it’s often stressful and, at best, unpleasant.
Car buyers know that they should always negotiate and haggle for the best price but nobody (except car dealers) do it every day and it’s not a skill that we all possess or get to practice very often.
Besides, the rules change from time to time.
First, let’s understand what we’re up against when buying a used car, either from a dealer or from an individual seller.
Continue reading How to Negotiate a Car Deal – Explained
This is a question that frequently comes up for those who are thinking of buying a new car.
Since this web site is about used cars, let’s get one answer out of the way immediately;
Leasing only applies to brand new cars, not used cars. There are some exceptions in that there are independent dealers in some large cities who lease used luxury cars.
But, hold on, that’s not the final answer.
Used car leasing
There is one way to lease a used car that most people are not aware of. It’s called by various names: lease takeover, lease assumption, lease trading, lease swapping, and taking over a lease.
Here’s how it works.
Continue reading Should I lease or buy a car?
What is the best and fastest way to sell a car?
If you are selling a used car you should take the necessary steps that will allow you sell at the highest possible price while avoiding issues with buyers and paperwork.
We take you through the process so that your efforts will be successful and you’ll avoid common problems.
Prepare your car for sale
Used car dealers know that if they clean up their vehicles inside and out, they can sell for higher prices. You can use the same technique when selling your own car.
You may find that you can easily recover the cost of replacing worn tires, for example, and make your car sell faster. You should touch up paint scratches. Repair windshield dings. Pull out small dents. Balance the tires. Get a tune-up and oil change.
Continue reading How to Sell a Used Car – Explained
How to choose the best used car for you and your budget
What car is best?
What car is most reliable?
Which car should I buy?
We see these questions frequently, usually from first-time buyers who have no experience in buying cars. They want to know which cars they should be considering, and which they should be avoiding, and why.
Of course, as might be expected, there is no single answer because different buyers have different needs and tastes, and there are many different cars that might work for them. However, we’ll try to provide some important suggestions that will make the decision much easier and less stressful.
Continue reading What is a good used car?
Can I Buy a New Car If I Still Owe Money On My Old Car?
This is a very common situation in which car buyers often find themselves.
The situation is that you want/need a new car but still have an outstanding loan on the car you intend to trade. And you know (or suspect) that the old car is not worth the amount you still owe.
What to do?
In the case where you find your old car is actually worth more than your current loan balance, there’s no problem. You trade the car, the dealer pays off your old loan, and the remainder of the trade value is applied as a down payment on your new car.
However, the more common situation is that you still owe more than the old car is worth. You’re “upside down.” The difference in the two values is called negative equity. Your options depend on the amount of the negative equity. The higher the negative equity, the fewer your options.
Continue reading How to Trade a Car with Negative Equity – Explained
What is an OBD code reader and how is it used?
An OBD (On-Board Diagnostic) scanner-reader is a good device to have for your own car or when shopping for a used vehicle.
When the “Check Engine” light comes on in a vehicle, the vehicle’s computer actually stores and saves the data about the problem that caused the light. The data is stored as a unique code that identifies the problem.
A Check Engine light indicates a problem that, if ignored, can cause one of more of the following issues:
- Serious engine damage
- Poor gas mileage
- Vehicle performance problems
- Expensive repair costs
- Emissions inspection failure
Continue reading Best OBD Code Reader-Scanners