Purchasing a demo car is a great way to save even more on a new vehicle. Just be sure it hasn’t been titled or damaged and that the additional discount for mileage is fair.
Borrowers, especially those with past credit issues on tight budgets, should never confuse price with cost. Price is what you pay for a vehicle while cost includes the overall expenses including gas, insurance, maintenance and depreciation.
When offered the chance to buy a new car, we suggest credit-challenged buyers pick one that’s affordable, fuel efficient and inexpensive to insure. Consumers who follow this advice, once they’ve reestablished their credit, will be in a much better position for their next loan.
The Costco GM Holiday Sales Event represents a good deal for car buyers – but, unfortunately, it leaves out those vehicles that most shoppers with poor credit can afford.
This list proves that a number of safe, new cars are within the reach of many credit-challenged buyers. Keep in mind that most of the rebates listed expire at the end of the month.
Buying a new car is typically a great experience, but it can quickly sour if the vehicle turns out to be a lemon. If this happens, consumers – especially those with poor credit – should be aware of their rights under their particular state’s lemon law.
Although the average price of a new car is a bit more affordable, borrowers should choose a reasonable vehicle if they’re financing one with a subprime loan. Doing that as well as maximizing the down payment while keeping both the loan term and payment-to-income ratio to a minimum will go a long way towards ensuring the successful completion of a high-risk car loan.