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Used Car

In present days, due to the economic crises, buying new cars is not the best option. So, used car is the best option for most of the drivers.  An analysis of a used car can be made from the price, year, make and model point of view, but the most important is the number of kilometers that a used car made during its lifetime.

In order to find the best used car for your needs, you can search in local auto parks or at local dealer with used vehicles or you can choose to search using an online market. Comparing the two ways of searching, you will notice that everyone has its advantages and disadvantages. Local dealers are better if you are decided what car you want and you just have to go there, see the car and buy it immediately. If you are undecided about the model of used car perfectly for you, the online markets are the best option. In the following lines an online market will be presented for your reference.

The biggest online market with national coverage is named Used Cars and their main motto is to save your time, your money and assures the guarantee of finding quality used cars. But, because the number of cars available for selling is so big, you can refine your search by car make, model and maximum price. If you are not sure what car you want, but you know how much money you want to spend on it, there is available only searching by price, so you insert the price you want and all car makes and models of that price are listed for you. In the same way, you can search only by body type of the car you want to buy.

Used Cars

Another option of this online market is the opportunity of receiving a finance product if you can afford buying the car with cash. You must be aware that there are a lot of cars with very big price, almost closed to the new car price. This is possible if the car is almost new, used only for couple of months and has only few kilometers made. Also, if you are not decided about the model of the used car you want, you can check the researches made by specialists on car makes and models. There are a lot of articles written for your reference and also there are a lot of specifications regarding engine capacity, fuel type and so on so you decide which one is best for you.

Used car is a lottery, you may find a good car but you may also find a bad car. You never know what happened to this car in the past. Almost all the auto parks offer a complete test for the car you intend to buy in exchange of a small cost. This test gives you all details about real kilometers and if car had problems in the past with the engine, gear box and so on.

Why Buy Used Car

Nowadays most of us are fighting a loosing battle against a budget that unfortunately keeps decreasing. To make matters even worse, the cars that we own are getting old fast so when the time comes for a change, we always face the same dilemma: new car or used. Can you afford a new car, what kind it should be, would a used car be better and so on. Well, if you’re going for a used car than you’ve made the right decision. You can acquire a car that it’s as good, or in some cases even better than a new car, without having to deal with the massive depreciation suffered by the car. As you probably know, the price of a new car drops somewhere around $1000, the instant you exit the driveway. Think about it, even a car that is only 1 year old is about 25 – 30% cheaper than a new one. Not to mention the enormous set of advantages of getting a used car.

First of all, you will save a lot of money on insurance. And you can find yourself owning a very reliable car for a decent price. If you look hard enough, you may even find some that still have their factory warranties active. The majority of manufacturers currently commercialize decent used cars that come with warranty and are known as certified used cars. If until now, checking a used car’s history was a grueling process of paperwork and travelling from one place to another, now by simply knowing the vehicle’s VIN (vehicle identification number), you can acquire the entire history report in a matter of minutes. You have the advantage of having the possibility to purchase the car from a private party, which besides the fact that it’s a lot less stressful, you won’t have to deal with annoying car dealers that don’t seem to know when to quit.

Used Car

When the car buying process starts, usually people have a general idea about the car they want. This is a very good thing because it means that you have a target. It’s also a good idea to stop right there and answer yourself this question: do I have enough money to pay for this car? Or will it fit into my monthly expenses? Afterwards you need to know how to find out if the car you picked is the best idea. In the meantime don’t loose your head and pick the ultimate sports car, instead think of your necessities and pick a car that would meet them.

It may be required to expand your search horizon a bit, when you’re seriously considering what car to buy. You need to do that because until you start snooping around, you won’t know how the market stands in your area. A good idea is to pick three cars that are similar in proprieties, features, engine size, mileage etc. Once you have this settled you can branch out your search while keeping a good heading. For example let’s say that you’re going for a Toyota Camry. Well in the same time you might consider the Chevrolet Malibu or the Honda Accord. These cars are placed in the same market segment, but they vary in features and, naturally prices. You might realize that the car you initially picked may not have been the best choice.

Always keep in mind that in spite of the extra years, used cars will always be more affordable compared do new ones. Got $10000? Chevrolet Malibu or Audi A6? Which one do you think will hold you more?

Used Car Websites

Since the arrival of the internet and the idea of online advertisement, the car market has undergone some serious transformations and improvements. There’s nothing easier than just sit in your armchair and flick around through websites, visualizing a wide array of cars, car models and such. You may be robbed of the appealing idea of seeing an old car in person, inspecting it and such.

 

Yet still there are several advantages to taking your search for a used car in the “virtual realm”. First of all, you don’t have to deal with a pushy salesman. There is nothing more annoying, when you look around and inspect a car than hearing the salesman yapping on and on not knowing when to shut up. This is one of the greatest advantages of online surfing. You can simply sit around and look at car specs and car photos all day long. You can make comparisons in performance, model, price and other factors of interest and then you can simply head on to the dealership and request the car you’ve seen.

 

The other advantage is the search potential that is not barred by distance anymore. 20 years ago you had to go from dealership to dealership so that you can find a decent car. Now you simply look it up and head there. You can even get a car from abroad. If you love the car enough that you simply have to have it and it’s worth the hassle, once again head online and contact a shipping company which will solve the transport problem for you. A great perk is that you can search everywhere for one type of car alone, or by manufacturer, model, you can even search by price.

Used Car Websites

The following 6 websites are some of the best rated when it comes to purchase or car information. Going through some of these will definitely make help you understand what kind of car you need and you would like to own, not to mention, useful tips, and other pertinent advice.

 

CarsDirect.com is a great resource when you feel like doing some research on used cars. You will find just about anything you need about the car you’re searching for. It also offers good information about financing and leasing options, the most updated and current car incentives and many others.

 

NADA.com is one of the main advertisement sources for dealerships, but they allow private sellers as well. You can browse around and see some of the offers on display or you can use their search engine in case you’re looking for something in particular.

 

Autobytel.com was for a long time the market leader in automotive advertising since it’s been one of the first ever founded. Despite the fact that it has lost some ground in recent years, it’s still a good source of information and still has one of the biggest collection of vehicles to select from.

 

Cars.com this is probably the best source of car specs and information. It is formed by a compendium of various newspapers and magazines that update it the second a manufacturer or dealership decides to make even the slightest change.

 

Carsoup.com was a little domain that covered a little part of Minnesota. Currently it can be found in almost all 50 states. It holds out an amazing collection of cars to choose from, and you can have fun while looking listening to Carsoup radio.

 

And finally the reigning king: Autotrader.com. it is currently the largest automotive website in the world, containing everything form presentation to shipping options, insurance and how to tips.

Used Chevrolet

 

Nowadays getting a used car can be a liability but if you take your time and research a little you will end up very satisfied and with a whole lot of money saved in your pocket. In case that used car happens to be a Chevy than you’ve struck gold. In the last few years, Chevrolet has placed on the market some of the coolest, meanest, most challenging and most powerful sets of wheels on the market. And since they’re selling like hot bread, getting a used car should be a synch.

 

 

 

There are Chevrolet cars dispersed around every car market segment from car, to truck so let’s just start with the Chevrolet Equinox. The Equinox is placed in the growing segment of “plus sized” crossover SUV’s. Similar to other vehicles like it, the Equinox covers the necessities and provides the utility you would normally expect from a more traditional SUV, but on the other hand its driving dynamics is not the “sharpest” thing around. The poor fuel economy is something you should also take into consideration. Yet still, being constructed as most crossovers are, using a car-like platform, they are quite sturdy and have very good crash test results, not to mention that they are surprisingly comfortable.

 

Chevrolet placed on the market 2 Equinox generations. One that was loved for its roomy interior and comfortably driving, but also had their downsides in substandard materials for interior and trunk. The second generation has been launched as an improvement, which brought to the table a more sharper styling, improved cabin materials, additional features and specs and most importantly, a wider variety of engine choices, which currently makes it a top choice in small SUV crossovers.

 

Chevrolet Suburban

 

If you want a car with deep history, than the Chevrolet Suburban is the car you’re looking for. It is the car with probably the longest run in the US dating all the way back to 1936. After so many years of serving faithfully as a big truck that was destined for rural use, now it is the currently top choice for those that want a class leader in passenger and cargo capacity carriers, sporting a third row seating and powerful towing capabilities.

 

Coming with solid underpinnings and a strong powertrain, a comfortable ride for up to nine people and their cargo make the Suburban a definite favorite in the large SUV section. A very short list of competitive cars could offer more than the Suburban, but the big SUV from Chevrolet is the only one on the market that comes in both versions: simple and heavy duty. It comes with the highest of recommendations and is about the most versatile SUV around.

 

 

 

Switching to the car segment, we encounter another Chevy that has been around since the Beatles. The Chevrolet Malibu has gone through some considerable redesigns since then. The initial idea was for a car that was fit for the midsize segment with rear drive that included sedans, wagons, coupes and even muscle cars. After a considerable downfall in 1970 and a quiet funeral in the ’80s, the Malibu has been restored as a smaller front wheel driven pleasure for those up for rental.

 

The latest Malibu on the other hand comes bringing to the table a new level of refinement and performance that puts it way higher than it’s predecessors, and on the line with other favored midsize family cars. The Malibu is one of the most silent cars that you can get. You can barely hear the soft purr of the engine, making the ride very smooth and comfortable.

 

 

 

 

Buying A New Used And Leasing A Car

 

When it comes to leasing or buying people always have different opinions. Some of them say that at the end of the leasing term you don’t have anything to show for your money. People that say that don’t take into consideration the fact that, leasing makes the buyer pay for a given period of time of his choosing. On the other hand, buying means either a lot of money or a big finance, for which you have to pay for many months. The online calculating system from Smartmoney.com is able to show you the best road to take. Yet take heed that the system has been designed to compare leasing and buying, it doesn’t take financing into calculations. Since that is a very volatile and unpredictable option it makes it a lot harder to take into calculation.

 

Buying A New Used And Leasing A Car

 

Both sides have advantages and disadvantages. Some of the advantages are: Low down payments, despite the fact that many leasing deals are advertised with a claim on a down payment you can simply ask the dealer to limit it. The thing is that, the more cash you pay on the down payment at the contract singing, the less you will have to pay on monthly fees.

 

Since you pay only for the car’s depreciation, you have reduced monthly payments, compared to ones you would have to pay for a much longer period of time if you decide to finance the car.

 

And finally, the easy turnover option allows you to simply go back to the dealership when the 2 years lease expires (assuming that your car has been maintained properly and is in good shape) and you can simply ask for another brand new model for the next 2 years. That’s a great way to avoid the headaches gained from trying to sell it as a used car, or haggling with a dealer.

 

There are also some downsides to it as well, the first one being the lack of equity. Since you are simply paying a rent just like in an apartment, your leasing terms don’t finalize in owning anything. Compared to traditional financing, you cannot look for a day when you can finally say the payments are over and you’re heading on in YOUR car.

 

Another upsetting thing is the lack of flexibility. In case you have or want to get rid of the lease before term, you’re faced with the predicament of paying a high penalty fee that can be the equivalent of 4-6 months of payment, depending on the leasing company you choose.

 

You may find that the constrictions set on your vehicle may be unsettling. For example, just about any lease contract implies that for every extra mile you drive over a specified limit, you have to pay somewhere between 12 and 15 cents (which is ridiculously high). Usually you are limited to a number between 12000 and 15000 miles per year which is the average a driver makes. Keep in mind that you have to take very good care of the car, since each little damage sustain that’s over the usual wear and tear is deductable from your pocket. A good way to get rid of the mileage restriction is buying extra per year, at a reduced cost of an average of 10 cents.

 

And finally, you may not be well covered by insurance. In case of car theft or an accident in which the car is completely smashed, the insurance company will only cover the car for it’s market value, leaving you with your lease active and no car.

 

 

 

What S My Used Car Worth

A used car value is something very volatile, to be more precise, it’s an inexact value, but with a little effort you can get a general idea. When you draw the line and think about it, the value of a car is actually determined when one seller and one buyer meet, discuss it and coming to an accord. But before getting to that point you need to get a general idea about the car’s price range so that you know how to present yourself when attempting to advertise your car, or as a buyer to know when you’re presented with a fair deal and not being hoodwinked.

Usually buyers take in consideration three important factors when evaluating a car’s value: mileage, car condition and the model year. These alongside with lesser but still noticeable factors like trim level, options and features determine a vehicle’s market value.

What S My Used Car Worth

When you attempt to evaluate your car the first thing you need to is making a complete evaluation on your car’s condition. Be honest about it because you would be lying to yourself and thus, damaging your chances to sell for a good price. You may look at your car like it’s made of gold, but a buyer will specifically look for flaws and obvious defects to have an excuse to make you drop the price. A cracked windshield, tires that are worn out, a messy interior, a good or shaky paintjob, eventual mechanical flaws that need to be assessed. You may not think of a small crack on the windshield as such a big deal, but to a buyer that is a good excuse to complain, or even worse, loose interest.

Know the mileage for your car. Despite the obvious requirement, many people don’t pay much attention to their mileage and have no idea how many miles they’ve driven a car at a certain time. Naturally a car with lower mileage will be sold for a higher price but exactly how high that price can go is a seriously difficult business. You can use some online helpers like the NADA, KBB, or Edmunds TMV to determine the market value of your car. Despite the big difference in evaluations, the price variations related to mileage are just about the same so you can get a general idea. If still in doubt you can always do (NADA + KBB+ EdmundsTMV) / 3 and you know for sure. As for everything, these systems are not perfect and may give faulty evaluations. But that usually happens when the vehicle has a high number of miles (very high).

Than go ahead and check the model year. You can simply look in the registration or the VIN since it is stamped on several locations around the car. The most accessible is the one located at the base of the windshield. Take it from left to right and when you reach the 10th character read it cause it represents the manufacturing year.

Another important information required is the trim level and the size of the engine. Usually, cars have the trim level indicated on the trunk (LX, TX, DT) etc. In case no trim level is indicated than the car must be the base model.  Trim level may have a considerable effect on the car’s value. Since you don’t feel like selling a turbocharged SS Camaro for the price of a base one, you would better know all there is to know about your car and its features. Put it all together and you will be heading for a fair price that can satisfy any client

Used Car Loans

A car is probably the second or third most expensive thing you ever get (depending on the education, since a house is the major expense in your lifetime), and with that big an investment you need to take care of a lot of factors. Even if you save money for quite some time, purchasing a used car can still be very expensive and requiring a little extra. To help cover these areas, all credit companies, bank or other financing industries have developed a loaning system for the individual so that the person in need can purchase his car.

Basically what is a loan, in company terms? A loan is an amount of money that are given to the customer by the financing company for the purpose of buying something (a car in our case). The company verifies your credit score and if it is clean you will be eligible for that loan. So when you go sign a contract for a loan you will have to pay a monthly fee to cover the amount that you have borrowed and something a little extra they call “interest”.

So if you understand all the terms let’s see how do you get a loan.

Used Car Loans

First step is: knowing your credit situation. Like I said, a clean credit will make you eligible for a loan, a less than clean credit history will classify you as a “bad credit” loaner and it will be much harder for you to obtain the loan. You need to head for Equifax or TransUnion and acquire a credit report which tells you where you stand.

Step 2: is disputing any unsolved problems with your credit. Mistakes or missed terms may affect your credit score dramatically, dropping your chances to get the money you need. Provide the agency that reported you with the necessary paperwork to see the problem done so that any “black spots” are removed from your credit history.

Step 3 is reassurance. Get the papers you need to show the financing company that you have a steady job and home. You can present a stub or a letter from your boss. Additional information regarding your checking account will be required.

Be prepared to pay a little more in interest when targeting a used car loan. Most lending companies will charge a more for a used car (usually 2%) than for a new one. so technically the newer the car is the lesser you’ll have to pay in interest.

Be careful when you’re choosing your car. Many banks will refuse loans if the car is over 5 years old. This represents a liability for them and not enough to be used as solid collateral in case of payment problems. Therefore those are considered liabilities.

Step 4: preparation. Do a little research and try to focus on financing companies that specialize in used car loans. For example a company like Capital One Auto will offer loans for used cars that are purchased from dealerships. Other institutions like First Again will offer loaning options for those who decide to head for private parties.

Also do your math thoroughly. Calculate the interest you will have to pay BEFORE you choose the loan’s length. It may seem really easy to go for a long term loan cause the monthly fee is so and affordable, but if you take the time and calculate how much are you going to pay in the long run, you will realize that they’ll become rich at your expense. Try as much as possible to make 3 years long loans.

What Is The Most Reliable Used Car To Buy

If you finally decided you’ve had enough of public transports and being crammed like a sardine on the bus to work, you decided to buy a car you can call your own. Good choice, but, let me guess you’re apprehensive when faced with the choice of buying a used car. Fear not, you can find incredibly reliable cars at good prices, not having to go get who knows what kind of financing. Come and see for yourself, some of the most rated used cars currently on the market, if any of them fit your “profile” go get it.

Toyota Corolla

Let’s start with the leader of the small cars section. The Toyota Corolla received the outstanding 9.8 marks out of ten (rating system provided by BuyingAdvice.com). It is probably the best selling compact car in automotive history. And it gained that title for a reason: it’s the ultimate economy car. It’s small yet quite roomy providing an ingenious body design, really inexpensive and reliable. What better combination can you get? It will be up to the task even far beyond the 100.000 mile mark, explaining why 300.000 americans go for this car, beginning with teenagers and ending up with retirees.

Next is the king of the family car section, according to the BuyingAdvice rating system, this car is close to perfection, gaining 9.9 out of maximum 10. Therefore, not many cars can say they acquired as much respect as the Honda Accord. This car is not supposed to be flashy or conspicuous in any way. It’s built to get the job done, no matter what it is, giving each owner the security of a well built, intelligent, and easy driven car. Go anywhere online and gather info on it, you’ll be seeing only clean history, a whole lot of good grades for reliability and safety, alongside with one of the strongest resale values you can find.

Toyota Avalon

If you’re on the market for a large sedan, than you’ll want to go for the Toyota Avalon.

Rated a sporty 8.4 it stands out there with the best of them. Providing lots of interior space, a powerful V6 engine and as usual, like any Toyota, a strong reputation when it comes to reliability. Coming with a refined design and major mechanical and engineering advancements, the Avalon is placed high on the large sedan list, all the way to the top. Even the base version is packed with a whole lot of features. No matter whether it’s new or used, the Avalon is the car to consider when you’re heading for a big, comfortable sedan.

Switching for a higher class, we stumble upon the Acura TL as leader of the upscale sedan section. When thinking midsize luxury sedan you’re definitely thinking Acura. Being the pride and joy of the Honda franchise the Acura may not be as flashy or as prestigious as many European sports sedans are, but it counterstrikes with incredible value and increased durability and reliability. Equipped with a large V6 engine and an all wheel drive transmission, ensures awesome performance on the road, while keeping a steady and smooth ride altogether.

And finally heading for the luxury section, you encounter the Lexus GS 300 towering above all others. Sporting the unbelievable 9.8 mark it’s the undefeated leader of the luxury section. Beginning with the ‘90s the Lexus trademark has placed on the market series after series of elegant, luxurious cars, fully loaded with technology and high quality materials. All of them placed to give the most refined look you could possibly find in a car of this type.

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Best Used Car Loan

Used cars in present days had become the perfect business for car traders. Because of the global economic crises people don’t afford to buy new cars and they choose used cars, same models. We all know that a new car becomes used car even if the owner used it just for few miles and the price of it is lower than a new one.

And for the deal to be even better, the buyers of the used cars usually get a loan if they can’t afford paying it cash so they don’t lose the best deal for the car they wish to drive. The best used car loan is the loan with the smallest rates, costs and without extra taxes. This is pretty difficult to find, but if you search long enough we will see that lease is the best loan. Because banks have bigger taxes than leasing companies, we better choose lease when we think about buying a used car.

Best Used Car Loan

Usually leases are having rates between 5.04% and 5.71% depending on the period of time for paying back the lease. Usually a lease contract can be in time from 36 to 48 months for used cars, but there can also be chosen different periods of time, depending on your agreement with the leasing company.

So, in order for you to choose the best used car loan, you better use the used car loan calculator. In this way you can calculate anytime your monthly payments, the costs of the loan and the taxes for every state you live in. For using this used car loan calculator you just have to fill few fields with dates about price of car, period of loan contract, and the calculator will tell you exactly your monthly payment or if you insert the monthly payment that you can afford the calculator will tell you what is the amount you can take from the financing company. In this way you will know for sure what car you can afford or how much you will pay every month so you avoid surprises after the signing the loan contract.

Where you can find the best used car loan calculator? This is a very easy issue. You can search on the websites that are specialized in selling cars or in providing information about cars, you can also find it on the leasing companies and banks websites or you can simply go to visit the financing company or your car dealer that has signed a contract with a lease or loan company and he has knowledge about the car loans and how to calculate monthly payment for you.

Very important for you to know is that you can get a loan for purchasing a car or you can get a loan or lease to refinance your old loan or lease if you find a better rate and better taxes than your old loan.

Car Donation Used

In these troubled times, when so many hit and runs, irresponsible people or the sheer desire to do bad things, leave permanent scars that affect children the entire life, there still are people that are united in good and bad times and have the desire of making the world a better place. These people have banded together and formed associations and non profit organizations that make child care their first priority. Some charity organizations have a used car donation option. So if you have an old car that’s just gathering rust and feel like doing a good think head for one of these organizations and you’ll be rewarded the happiness of a child in need of a toy to light up his days.

Car Donation Used

If you feel like doing the good deed, you can head on to givecars.com and turn that pile or rust into a whole lot of teddy bears for kids in need. All you have to do is click “DONATE NOW”. You will be redirected to an online form which you have to complete, giving a few details about yourself and your car. The entire thing won’t take you more than 5 minutes. Then all you need to do is check your e-mail address from time to time to look for their confirmation. Once arrived than everything is settled. One of the fastest towing companies will arrive at your doorstep on the exact established time and take the car, the whole operation is completely free of charge. Doing the right thing is also rewarding, since you receive a tax deduction which is recognized by the IRS as “501 (c)(3) charity”. They will accept any type of car: vans, cars, trucks, motorcycles, even golf carts and see them turned into a whole set of gifts for kinds in need.

If you want something a bit different, than head for the donationline.com website. This is considered one of the biggest and most popular donation centers in America. You can donate just about any types of vehicles, cars, trucks, boats, RV’s even jet skies and snowmobiles are accepted. The best thing is that you have a list composed of hundreds of charities from which you can actually pick where you want your donation to go. Some of the charities include: the American Red Cross, Best Friends Animal Society and many others.

The procedure of donating a car is very simple. The first thing you need to do is pick the beneficiar for your donation. After the selection you will be given a donation form which can be easily completed, or if you want a direct approach you may call at 1-877-227-7487. The number is available 24 – 7. You will be in direct contact with their experienced operators that will execute the transaction in a matter of minutes.  Afterwards you will be contacted by the fast deployment towing team within 2 working days. You can establish a meeting whenever you feel like it and they will come for the vehicle pickup.

Everything is handled with care and professionalism while the towing agent provides you with a receipt (you don’t pay for a thing, you just get that as proof). Then your vehicle will be sold for the charity that you’ve picked. Depending on the car condition, it will be sold at an auction house, or a salvage dealer. All the money goes to charity, keep in mind that the organization is NON profit.

For your good deed you are “rewarded” with a tax deduction for your vehicle. You may pick any charity since all of them include tax deduction.

New Vs Used Car

Buying a car must be one of the most difficult decisions you can make. And a side decision that you need to think about is what kind of car you’re going to buy and even more important whether you’re going to buy it new or used.

We all wish to have something new and shiny and fresh on the market. That is understandable. It’s new and untouched, fully equipped and ready to go. But you should know that the moment you purchase it you are left with a car that looses $500 to $1000 just by exiting the dealership and over time your car will slowly depreciate and find out that in 5 years your car may worth 70 % less.

The worst possible solution is paying for a new car with a loan (except if you have a REALLY good offer) because of the same depreciation. Things will go upside down, you will be paying in the long run, more than the car’s original value, while the car slowly depreciates making selling it an inconvenience because you may get less than half of what you paid for. Keep in mind though that not all the cars depreciate as fast.

Take for example a sweet looking Chevy or other “symbol” cars and you’ll see that their value is well preserved over time. On the other hand try the same thing with a Toyota Prius and see the difference. Therefore a good advice is heading directly for Kelley Blue Book and find out the depreciation value of the car you’re interested in.

There are of course advantages to heading for a new car. One of them is the lower loan rates when the loan is aimed at purchasing a new car. The difference is not very noticeable since we’re talking about 3 % maximum, but if you have an excellent credit, the major advantage is that you may qualify for a special form of auto loan with 0% interest from the dealership. The offers with 0% restricted to new cars only and it would mean for you the deal of your life.

Another good option for new cars is leasing. When you lease a car you practically enter an agreement with a dealership for “renting” the car. You pay a monthly lease which is a lot cheaper than a loan because leasing is a bit different. Let’s take for example a lease for a $20000 car. That car is expected to loose $7000 in depreciation over three years. The coolest thing is that you pay a monthly fee for the depreciation ($7000) and not for the car’s value of $20000. You do the math.

The only downside to this is that you assume a risk when leasing since you have to respect some parameters and do regular maintenance on it. For example any damage sustained by the car or mileage over the amount established will be paid by you. The silver lining is that at the end of the lease you may either return the car and get another new one, or purchase it.

2009 Audi A4

With purchasing a used car, the considerable drop in value father the first year is avoided. The depreciation is noticeably smaller, about $3000-6000 after the first year. Let’s take for example purchasing a 2006 Ford Taurus will cost you about $20000. According to the Kelley Blue Book a 2005 Ford Taurus can be purchased with $15000, meaning $5000 savings for only a year older car. Think about it, a new Honda may be the price equivalent of a two years old Audi.