Hidden Costs When Buying Cars

It’s only natural to get excited when you see the car you’ve wanted for years finally fall within your price range. You need to err on the side of caution, though, because there are many hidden costs that you shouldn’t overlook.

Sales Tax

Included in vehicle price is the sales tax, which can vary from state to state. Some states don’t even charge sales tax. Consult with your dealer to see how much yours will be, if any. You may also consider driving to a state that doesn’t have sales tax. Sure, you’ll spend money on gas getting there, but the additional savings may be worth it.

License and Registration Fees

You can’t drive a vehicle off the lot unless it’s registered in your name, showing that you legally own it. This costs some money and includes fees on the license plate, title paperwork, and registration. You’ll pay these fees every year and they vary in price depending on where you live.

Insurance

Insurance is probably the most expensive fee many car shoppers overlook. You need it legally in most states and it helps pay for vehicle damages and injuries after an accident. In the United States, the average annual cost for auto insurance is $900. This can vary, though, depending on how old you are and how many accidents you’ve had in the past.

If you’re worried about any other additional fees, talk to car dealers you can trust. They can list out any costs you may have overlooked so you there are no surprises.

Helpful Formula When Buying Used Vehicles

Although used cars may not be in pristine condition, they let you save money and offer unmatched character. Whether this is your first time or this process is old hat, you need to stick to a precise buying formula.

Know What You Want

First, you’ll need to assess what you want to get out of a used vehicle. This starts with analyzing your driving habits. You may need a vehicle that’s reliable on long work commutes. Conversely, you may opt for a vehicle that offers a lot of power if you view driving as a leisure activity.

The number of people you drive with is another factor to consider. A sports car with two seats simply won’t work if you have a family of four. Think about their needs first so everyone has a place in your new vehicle.

Perform Adequate Research

Just because you see a used car at an affordable price doesn’t mean you should automatically make an offer. Proper research is a necessity for buying used cars in great condition and that match your wants and needs. Always check the car report online before heading to used car dealerships. You’ll know what repairs were made and what accidents a particular vehicle has been involved in, if any. Only then can you negotiate a better price.

If you’ve gone through a strict checklist before heading to a dealership, start the negotiations. The process won’t seem as foreign or stressful since you’ve armed yourself with car facts and reports.

Keys to Securing Bad Credit Car Loans

There’s a lot of misconception when it comes to bad credit and getting car loans. Just because your credit history is poor, doesn’t mean you can’t get a loan or can’t find one within your budget. You can as long as you take the following actions.

Don’t Assume Your Credit is Bad

Don’t let others persuade you that your credit score is bad. You really won’t know until you check it yourself. There are plenty of places online to complete an in-depth, accurate credit report. Good credit is considered anything from 700-749. Anything above this range is considered excellent, while anything below is considered fair.

It’s also important to note that not all lenders see credit scores the same way. You may have an easier time securing a loan, for example, if you made steps to pay down credit card balances. Additionally, some lenders prefer to offer loans to applicants who have bad debt, compared to individuals who don’t have any credit history at all.

Seek Out Car-Financing Dealerships

You can save the headache of getting denied repeatedly by seeking out bad credit car dealerships. These dealerships know that your financial history isn’t ideal, yet still offer loans because they believe everyone should have a shot at owning a vehicle. Just make sure you check the interest rates. Generally, they’ll be higher the worse your credit score is.

If you’re hoping to find a great car loan, even with bad credit, you still have many options. As long as you make sure the loan doesn’t hurt you financially, finding a car should be a smooth process.

CAR DEALERS FOR BAD CREDIT EXPLAIN HOW YOUR VEHICLE’S WARRANTY WORKS

When you’re buying a new or used car, you’ve no doubt been asked if you’d like to purchase a warranty along with it, or been told one is included as standard. But if you’ve never used a warranty before you may think they’re useless.

But this isn’t the case. Whether you’re paying in cash or you’re using auto loans for bad credit, a warranty could save you thousands of dollars down the line. Read more on this article: http://bit.ly/2qu9zct

Money-Saving Tips When Buying Luxury Vehicles

There’s nothing quite like driving a high-end luxury vehicle. They’re equipped with everything you could possibly need it seems, from advanced safety systems to in-car entertainment options. If you’re searching for such a vehicle, there are some money-saving tips you can’t overlook.

Consider an Off Lease Vehicle

Many people opt to lease a luxury car, whether it’s because they simply can’t afford it or they aren’t ready to make a long-term commitment. Once these short-term leases run out, the vehicles are sometimes auctioned off to dealerships at a low price. These vehicles, also known as off lease vehicles, give you the chance to save thousands of dollars on a relatively new luxury vehicle.

Since these vehicles are not brand new, however, you may want to ask the dealer about what warranties apply. Make sure the vehicle is structurally sound and that integral systems work like they’re supposed to.

Lease a Luxury Vehicle 

You simply can’t afford monthly payments over $600. That’s perfectly fine, since you can always opt to lease one out. Sure, you don’t own the vehicle outright, but you can save money and get the same experience as luxury owners do on a daily basis. You can choose a long-term lease or one that’s short, depending on how much you like the vehicle or your financial situation. These flexible options let you buy without making a large financial investment.

Luxury cars offered at auto dealers are fully-equipped and afford you so many unique experiences. As long as you assess your finances and vehicle preferences, you can take part in these refined experiences without any hassle.