Archive for the ‘purchase’ Category

If you still owe more on your loan than your car is worth, you are upside down. You may still be able to buy another car if you are upside down on your previous loan. There are two ways to go about it. One way to buy with an upside down loan You could sell […]

Lease vs Buy? What’s the Difference? One of the best ways to decide between car leasing and buying with a loan is to directly compare the attributes of each, which we will show you in this article. We’ll tell you about how payments compare, about how fees are different, about advantages, and disadvantages. Another way […]

New Car, First Car If you’ve decided that your first car will be a brand new car, there are things you need to know about the buying and financing process that makes it different from buying a used car. New cars – only from dealers All new cars must  be purchased from state-licensed and manufacturer-authorized […]

Used Car Inspection Checklist Use this handy 50-point checklist when buying and inspecting a used car. Print it and take it with you.   Wheels and Tires Are tires worn to unsafe level (less than 2/32″ tread depth at lowest point)? Tires with less than 2/32″ tread depth at lowest point are unsafe and should […]

How do I buy a car from an individual private seller — not a dealer? When you buy a car from an individual, you pay with cash, a money order, or a bank cashiers check. The money can come from savings, a checking account, a family loan, or a loan from a bank or financial […]

How to use a Lease vs Buy Calculator When you use a Lease vs Buy Calculator such as the one at LeaseGuide.com, you should understand how it works and how to get the results you want. Car leasing is a little different than buying a car with a loan. The language is different, the process […]

How do I know what price to pay for a car? Let’s say you see a nice used car that you like on a dealer’s lot that is priced at $14,000. Is it a good price? Can I talk the dealer down to, say, $12,000? How much discount can I expect to get? These are […]

One of the most frustrating things about buying a used car is knowing not how much it’s worth — its value — a fair price to pay. Two cars of the same year, make, model, condition, and mileage can have two very different values, depending on who is making the valuation. Even the same car […]

We see this question being asked frequently: “What is the best car to buy?” Of course, the real answer as to what is the best car can vary, depending on your own personal needs, preferences, and finances. Some people place a great deal of importance on reliability. Others might think safety or cost is more important. […]

Are certified used cars good deals or not for first car buyers? Many car dealers sell “certified” pre-owned cars. How are these cars different from other used cars? Are they more expensive? Are they worth considering as a first car? Most major automobile manufacturer’s dealers now offer “certified” used cars. A certified car has been […]

How do I know how much car I can afford? Assuming you’ll buy with a loan, you will want to have a monthly car payment that will fit within your current income, after considering all your other expenses. Don’t make the mistake of buying based on future expectations — a forthcoming raise, a new job, […]

Buy-here-pay-here car dealers provide auto loans to people with bad credit. Most car dealers do not directly finance loans on cars they sell. They work with outside banks and finance companies to provide loans for their customers. It’s up to those banks and finance companies, not the dealer, to approve and provide customers car loans. However, […]

Even many experienced car buyers don’t know about the “secret” factory-to-dealer rebates given to dealers by car manufacturers. Car companies often select certain models and styles for these rebates, and the selection can change from month to month. Dealers can use factory-to-dealer cash (sometimes called “marketing support”) in almost any way they choose but most […]

Car manufacturers offer special sales incentives every month on particular vehicle makes, models, and styles. Incentives vary from month to month. Incentives come in the form of direct-to-customer rebates, special lease deals, and low-interest loans, including 0% APR loan deals. See Best Car Deals for current new-car incentives, including 0% loans. Zero percent financing, when […]

As this is being written, this year, 2011, has become the best time to buy a new car in years. And 2012 looks to be even better. In normal years, we would tell you that the best time to buy a car is when sales are slow at the end of the month, end or […]

A Car Loan Story David, 17, recently graduated from high school, landed a good paying job, and wanted to buy a new car. His thought was that he would go to his neighborhood Ford dealer where he had been admiring a bright red Focus model that he felt he could afford, and arrange for a […]

Car manufacturers use incentives to make their new cars more affordable during limited-time promotions. The most common incentive is a direct to customer rebate, although there can also be other incentives such as low-interest loans, 0% APR loans, special car lease deals, and “hidden” factory-to-dealer cash. Incentive programs vary from month to month depending on which […]

Do you need an extended car warranty — car repair insurance? All new cars come with a new-car warranty from the car manufacturer. There is typcially a general “bumper-to-bumper” warranty that covers just about everything that is not a wear-and-tear item, and a powertrain warranty that covers the engine, transmission, and drivetrain components. For most […]

There’s one kind of car buying customer that sales people just love. They are “payment buyers.”  A car salesperson’s job is to sell cars — and make maximum profit for his dealership. The way to make maximum profit is by selling at the highest possible prices and including as many “add-on” extra items or services as possible. Some […]

The most common car scam is one in which a nice car is listed for sale at a low price on Craigslist.com, Autotrader.com, or other web site. There is no hint, other than the low price, that it is a scam. They show you a couple of good pictures of the car and even provide […]