If you need a new family vehicle, there's a good chance you could get a great deal in 2016. That's because new car prices are likely to stall this year, and overall affordability in the auto market is up nearly 13% over last year. When you throw in the fact that manufacturers are currently offering a number of excellent, well-priced sedans, now may be an excellent time to take a serious look at a brand new car.
New Cars and Affordability
Recently, Requisite Press, LLC reported a December, 2015 Auto Buyer's Affordability Index (ABAI) of 57.9. This means that a "prudent, median-income household" can afford 57.9% of the new-car average price.
And it is predicted that downward pressure on vehicle prices is expected to increase this year and enable additional gains in new-car affordability. President of Requisite Press, Phil Kelton, summed up the situation well with this statement:
"New-car prices were essentially flat in 2015, and more of the same is expected this year. Consumers will benefit from improving affordability . . ."
So, if you are in the market for a family vehicle, you may be able to take advantage of everything that comes with a new car purchase; the latest safety features, the warranty protection and the absolute peace of mind.
Narrowing the Field to Suit Your Budget
Not sure where to start in your search for a budget-friendly sedan for your family? The following list features new models that can be purchased (standard) for under $18,000.00.
- The 2016 Hyundai Elantra (starts at $17,250.00): Standard features of the Elantra SE include a 1.8L I-4 engine and a 6-speed manual transmission with overdrive. You also get 4-wheel anti-lock brakes (ABS), side seat mounted airbags and curtain 1st and 2nd row overhead airbags. Other features include an airbag occupancy sensor, air conditioning and 15" aluminum wheels.
- The 2016 Ford Focus (starts at $17,170.00): The Focus S is equipped with a 2.0L I-4 160 hp engine and a 5-speed manual transmission with overdrive. Standard features also include 4-wheel anti-lock brakes (ABS), side and overhead airbags, as well as a driver knee airbags. Additionally, you get an airbag occupancy sensor, 15" steel wheels, electronic stability control and power mirrors.
- The 2016 Mazda Mazda3 (starts at $16,945.00): This top-rated vehicle (the i SV version) features a SKYACTIV-G 2.0L 155 hp engine and a 6-speed manual transmission. Standard airbags are also included, as well as 4-wheel anti-lock brakes (ABS). Other equipment includes air conditioning, traction control, electronic stability control and power mirrors.
- The 2016 Dodge Dart (starts at $16,495.00): The Dodge Dart SE comes with a 2.0L I-4 160 hp engine, a 6-speed manual transmission and 4-wheel anti-lock brakes (ABS). If you have safety in mind, you will be happy with the fact that this vehicle is equipped with side seat mounted airbags, curtain 1st and 2nd row overhead airbags, a rear side-impact airbag and driver and passenger knee airbags.
- The 2016 Kia Forte (starts at $15,890.00): The Kia Forte LX is quite a bargain when you consider its 1.8L I-4 145 hp engine. It has an updated, super sleek look and 4-wheel anti-lock brakes (ABS). With both side and overhead airbags, you know that it is safe. Standard features also include an airbag occupancy sensor, air conditioning, 15" steel wheels and power mirrors.
Car manufacturers are competing for your business right now by offering their latest and best models at surprisingly affordable prices. So, get the reliable transportation that your family needs while it is very much a buyer's market. But, first, make sure that you have your financing taken care of.
The Right Auto Loan for You
Whether you decide to buy a brand new car or go with a well-maintained and affordable used car, getting the right auto loan should be your first step in the purchasing process. And if you have damaged credit, you may be wondering how to even begin looking for a lender who will finance your purchase. Look no further than Auto Credit Express. We can connect you with a dealer who is qualified to handle your unique credit situation.
All you have to do is fill out our fast and secure online application to get started today.