Author Archive

Many car companies offer special lease deals on selected models and styles each month. Some are very affordable at less than $200 a month. This month, we list over 50 leases for $199 or less. The list gets larger every month as car manufacturers increasingly work to attract new customers by offering low monthly car costs. […]

Car Scams by Individuals and Dealers Thousands of car sales and purchases take place every day in this country. Not all of them are legitimate and are outright scams. Here are some of the most common car scams today. The Online Car Seller Scam This scam starts with a potential buyer looking for cars for […]

Who needs a co-signer for a car loan? How does it work? New or first-time car buyers are often surprised at being turned down for a car loan because they have no credit history, which unfortunately has about the same effect as having bad credit. Getting a co-signer might be the answer. Lenders want to […]

About principal and interest If you purchase a new or used car with a loan, you agree to pay off the loan amount (principal) over a specified number of months. But you also agree to pay a finance charge, or interest, for the privilege of using the bank’s (or finance company’s) money for your purchase. […]

How much down payment do I need for my car loan? Until recent times, it was standard for car dealers and finance companies to require at least 20% down payment on the purchase of a car. It was for a good reason. Because cars depreciate in value from the moment they are driven off a […]

It’s a common predicament. You have a car that you want to trade for a better car, but you still have an outstanding loan on it. The Question The question is — is it possible to trade when you have a car loan that is not yet paid off? The short answer is yes, you […]

What is the car trade-in process? Do I lose money by trading? Here is how a car trade works. Car dealers buy your old car from you and give you credit toward the price of a new car. The trade-in credit is like a down payment and reduces the price of your new car, making […]

Is Cheap Car Insurance Possible? Auto insurance is one of those irritating expenses of car ownership that has no immediately obvious benefit. We pay and pay, and may never get anything in return. Teenage first car buyers are always a bit startled by the high cost of insurance. Car insurance is one of the most […]

Is auto insurance really necessary? Why do I need it? Since car insurance is so expensive, partiularly for teenagers and other young drivers, it’s natural that this question should come up frequently for first time car buyers. You need insurance on your car to protect you from the risk of disasterous financial problems resulting from accidents, […]

Understanding the basics of auto insurance You may go through your entire life and never have a car accident. But the odds are against you. Auto insurance protects you from potentially disasterous costs of such accidents. If you are buying your first car, you must understand how car insurance works and why you need it. Laws […]

When you buy a car, there’s the actual price of the car of course, but there are always other costs and fees involved. Some fees are required, some are not. Some are car company fees, some are dealer-added fees and charges. And some are official fees and taxes required by the state, county, or city […]

What Are the Best Cars to Buy? There are literally thousands of combinations of different automobile types, makes, models, styles, and prices, which can make it difficult to choose which to buy. However, we will help you determine the perfect car for your needs. What is a good first car?  Which car is the best buy? Which is […]

What to Pay for a Car — What’s a Good Price? What to Pay For a New Car All new cars have a window sticker that displays the manufacturer’s suggested retail price (MSRP). It may also include destination charges, dealer-installed option prices, and other miscellaneous charges. The total of these charges is the price you would pay for that vehicle, […]

When buying a car, everyone knows you don’t pay the asking price or sticker price. Right? Right. The process of buying a car in the United States is unusual in that it’s one of the very few times when we actually negotiate or “haggle” over prices. We don’t do it when buying a refrigerator at […]

We answer questions from first-car buyers almost every day when we participate on the Yahoo! Answers web site in the Car Buying and Selling section. The majority of those questions come from teens and young adults who have little or no experience in buying, trading, or selling cars. In the few years that we’ve been […]

Many people know they need/want a new car but struggle with what car to buy. There are so many choices. How does a person go about deciding what car is best for them? There are actually a number of different approaches that be taken in making a decision. One way is to simply do detailed […]

For many people, an auto loan is the most significant and largest financial transaction they make in their lives — at least until they get a home mortgage. Because it is so significant, it makes sense to take the right steps and avoid mistakes in the process. 1. First, shop around for auto loans at […]

First-time car buyers are often unaware of everything that’s involved in the process. It’s not surprising because it’s not simple and not like buying anything else that we normally buy, even a house. We’ll explain it all in this quick guide to buying a car. Further details can be found in the various articles posted […]

Buying a car for the first time can be an overwhelming experience. There’s so much to know and how to know what’s important. With this article, we’ll take some of the mystery away from the car buying process. We’ll focus on the car itself in this article because we’ve already covered topics such as new […]

There’s nothing worse than spending your hard-earned money for the perfect used car and finding out after the sale that it has serious problems that are going to cost a fortune to repair. It’s even more disappointing when you discover that used cars are sold “as-is”, which means that you have no legal grounds to […]