If you qualify for one, a new car can be a good choice, provided you keep it well within your budget. If you plan on buying one in the next couple of months, we want you to know that the folks at NADA Used Car Guide believe that the Labor Day weekend will offer big savings to new car buyers.
Consumers should always be conscious of price when picking out a new car, especially if they’ll be financing it with a subprime auto loan. But it’s also good to know that even budget-conscious buyers now have the opportunity to finance a new car equipped with some of the latest technologies.
When credit-challenged buyers are given the option of financing a new car, choosing something from this list will enable them to enjoy the benefits of a new car warranty while keeping the payments within their budgets
Contrary to popular belief and at least according to the information gathered by TrueCar, the best overall month to buy a new car is the month of August. Credit-challenged buyers might also want to examine their loan term versus the length of the new car warranty and stop to consider whether or not purchasing additional warranty coverage might be to their benefit.
Despite the fact that the average price of a new car is a bit more affordable, borrowers with past credit issues need to lower their sights if they’re financing one with a subprime loan. In addition, they should always maximize the down payment while keeping both the loan term and payment-to-income ratio to a minimum.
One of the keys to successful repairing your credit with a subprime auto loan is choosing a dependable vehicle to finance. The fact that the two latest studies from J.D. Power highlight the Hyundai Accent – one of the most affordable new cars available in the U.S. – is certainly good news for car buyers with credit issues.
Even if they quality, borrowers with iffy credit need to remember that they must follow certain guidelines set by the lender. In this instance it means that once the lender has determined their vehicle budget and interest rate, it’s up to the dealership to show them the cars that fit within those requirements.