Category Archives: best deals

Cheapest Car Leases – $199 or Less in 2017

best car lease dealsMany 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.

These are usually genuinely good deals that are worth considering as long as you like the models and styles being promoted. The deals usually only last for one month, require a down payment, and have a specific mileage allowance — usually 1000 miles per month, average. Be aware that these deals may vary by region of the country.

Most lease deals are for 24 or 36 month terms. At the end of the lease you can simply return the car, or you can purchase it for the guaranteed purchase price stated in your lease contract. In some cases, you may have equity in the car (it’s worth more than the purchase price) such that it makes sense to buy it and sell it for a profit, or use it as a trade-in for another new vehicle.

Here are the cheapest car lease deals being offered at this time:

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Lease Deal Calculator

lease deal calculatorIf you’re looking to lease a car and find a great deal, is it really a great deal?

Actually, it’s not easy to tell by simply looking at the numbers.

Sure, the payment seems low, especially when compared to a loan payment for the same car, but is the payment higher than it should be? Has the dealer made a mistake in his math or is he cheating you? Is the dealer basing the lease on a vehicle price that is too high — higher than sticker price? Is he charging too much interest (lease money factor)? Has he set the lease-end residual value too low?

All these factors contribute to the calculation of monthly lease payment amount. If any one of them is set too high (or too low in the case of residual value), it’s not a good deal. (If you are not familiar with how car lease payments are calculated, see Lease Payment Formula, at LeaseGuide.com.)

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Used Car Dealers

used car dealersThere essentially five kinds of used car dealers from which you might buy. There are advantages and disadvantages to each type. Let’s take a closer look now.

Large Chain Used Car Dealers

Carmax is the best known of all the large used car dealer chains. They have stores all around the U.S. and typically have hundreds of high-quality vehicles to choose from. They have a no-haggle price policy, which means the buying process is easy and stress-free, although you may pay a little higher price than you might elsewhere. But for the price, you get a good car that has been inspected, comes with a warranty, and a return policy — all things that you won’t get elsewhere.

Some Carmax locations also sell brand new cars of a particular brand.

There are other large chain dealers such as AutoNation that are similar to Carmax.

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Zero Down Car Lease

zero down car leaseLeasing can provide an affordable option to anyone needing car financing at minimum monthly cost. Upfront cost can also be minimized by paying no money down — $0 down payment.

Lease payments are 60% – 110% lower than loan payments for the same car. And most leases can be obtained with zero money down— $0 down.

So what’s the catch?

First, leasing is a bit more complicated than buying a car with a loan. If you don’t understand how leasing works, or how to determine if it’s right for you, you should skip it until you take the time to learn about leasing — from LeaseGuide.com.

Second, in order to get a zero down car lease, you need a good credit score. In fact, you may need a better score than you would need if you were buying with a loan. You should always know your current credit score before going car shopping.  What’s your FICO score? Find out now when you check your credit report for $1 at Experian.com!
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5 Tips for Getting an Auto Loan

tips for getting auto loansFor 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 your local banks, credit unions, and financial companies. You don’t have to finance through your car dealer. In fact, by shopping around first, you’ll know if your dealer’s loan offer is good or not. When you talk to a bank or credit union, you may also be able to get pre-approved at a guaranteed interest rate and for a given amount. That way, you’ll know what price car you can afford when you go to your dealer. You are not obligated to accept any loan offer you receive, even those for which you are pre-approved.

2. Know your credit score. Your credit can make the difference between getting approved for a car loan or not. If you are approved, your credit score will determine the interest rate you pay and the down payment amount you’ll have to make. Car companies offer special promotional deals each month, such as 0% APR loans and low-payment leases, which require good credit. To get the best rates and best deals you’ll need a credit score of 700 or above. What’s your FICO score? Find out now when you check your credit report for $1 at Experian.com!
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0% Car Loans – Zero Interest

Car manufacturers are constantly offering low-interest loans and other incentives to help sell cars.

With “normal” interest rates around 3.0% at the time of this writing, it’s not much of a stretch for car companies to offer 1.9%, 0.9%, or even 0% loan rates.

A zero-percent (0%) loan means no interest at allno finance charges for the life of the loan. Some car company deals limit no-interest loans to 36 months but some extend it all the way to 60 or even 72 months.

Understand that no-interest loans are not something you can get by negotiating with a dealer. These promotional loan deals are only offered by car manufacturers on selected models and styles for a limited amount of time.

How much money do you save with a 0% loan?

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First Car Questions

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 doing it, we have seen certain common questions come up over and over again. Some come up numerous times in a single day.

We thought we would post some of the most frequent questions here, and answer them just as we do on Yahoo! Answers.

Here goes.

Q.  How many miles are too much for a used car?  How many miles will I get from this used car?

A. All used cars are different. It’s not possible to say that a certain car of a certain age and of a certain brand that has 150,000 miles is a good car. It depends on how it has been driven and cared for. Some cars with only 50,000 miles are ready for the junk yard, while others with 150,000 miles are good for another 150,000.  Even brands such as Honda and Toyota, that are known to be very reliable, can have serious high-mileage problems. Therefore, don’t make a purchase decision based on mileage alone. Get a professional mechanic to inspect your car before you buy. It’s the actual condition of the car, not mileage, that is important.

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Hottest Cars – What Cars are Best Sellers?

most reliable carsThe best selling cars are those that car buyers like best and buy most often. Given that most of those buyers do at least some research before they make a decision, they choose their cars wisely and make informed decisions. If other buyers don’t want to do the research and make their decisions based on what other buyers are choosing, that’s okay. They still end up getting great cars.

Although we will be talking about best-selling new cars here, the same cars are generally the best-selling used cars as well. Furthermore, we won’t talk about trucks, but suffice it to say that the Ford F150 pickup has been the best-selling vehicle of any type for years.

Before we present our list, let’s take a moment to discuss why some cars are super-popular and others not so much.

Generally, the best-selling cars are those that have the best combination of all the things that buyers are looking for — the optimal “package.” Smart buyers want good value, a reasonable price, quality construction, high reliability, good performance, a comfortable drive, adequate space for passengers and cargo, good styling, good fuel economy, modern features, an excellent safety rating, and maybe some luxury features. They also want a car that is reasonably inexpensive to insure, maintain, and repair.

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Negotiate Car Price

negotiate car priceWhen 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 Sears, or a TV at BestBuy, or a watermelon at the supermarket. With cars, it’s more like haggling over an old lamp at a garage sale or, if we lived in the Middle East, getting a price on a donkey.

Although buyer-seller negotiating is common in many other countries, most people in the U.S. find it uncomfortable and awkward. Since we don’t do it very often, we’re not very skilled at it. Many people hate it.

Negotiating New-Car Prices

All new cars have standard manufacturer-suggested-retail-prices (MSRP) — retail prices — “sticker” prices that are exactly the same for the same car, same model, same equipment everywhere in the U.S.. Including the word “suggested” suggests that the prices are not necessarily the prices we have to pay. And dealers encourage us to expect less-than-sticker prices by their ads and TV commercials — “We beat anyone’s prices,” or “Less than invoice prices,” or “Lowest prices in town.”

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Where Are the Best Car Deals?

best car dealsEveryone buying a new car wants to get a bargain and a great deal. So where can those deals be found?

Although we’ll be primarily discussing brand new cars here, we can make some comments on used cars, if that’s the direction you think you want to go.

Used Car Deals

Finding a great deal on a used car is a bit more tricky than finding a new-car deal. That’s because used cars are, well, used. No two are alike. Even used cars of the same year, same brand, same model, and same equipment can have different mileage, different problems, may have been driven and maintained differently, may have been wrecked (or not), and may have very different prices for these and other assorted reasons. When you find a used car at a bargain price, it might be for a good reason — or the buyer may simply be desperate — or it could be a common scam, especially if bought online. Therefore, it takes much more care when buying used.

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