Cheap
Cars - How and Where to Find the Cheapest Cars
Cheap cars can be
found and purchased from a variety of sources. Generally, people who are
looking for cheap cars are simply attempting to find the best car that
meets their needs, at the lowest possible cost.
For those who are
looking for inexpensive cars, there are essentially three categories of
options available to them — cheap new cars, cheap used cars, and
cheap leased cars.
Used cars
are cheapest
Used cars are available from dealers, individuals, auctions, and on the
Internet. However, considerable care must be taken when buying pre-owned
cars because most are sold "as-is" and will come without a guarantee
or warranty. Certified Cars offered
by dealers representing major car manufacturers are an exception, although
more expensive.
Following are sources
that provide the best opportunity for finding cheap cars:
New-Car
Dealers Used-Car Lots - Most new-car dealers typically sell
used cars as well. Although inexpensive cars can often be found on these
lots, most such dealers only offer relatively late model vehicles that
have been taken in trade or off lease, and are in good condition —
and are relatively expensive. Older, less expensive vehicles are usually
sent to auction to be purchased by independent used-car dealers and
BHPH dealers (see below). Find used cars online at UsedCars.com.
Independent
Used-Car Dealers - Independent used car lots are a potential
source of affordable cheap cars. Many lots have older vehicles that
can be real bargains. However, proper caution should be taken to determine
if the price is fair and that the vehicle has no hidden problems. Most
used cars come without any kind of warranty or return policy. See Buying
a Used Car for more details.
Buy-Here-Pay-Here
Dealers - A special type of independent used-car dealer that
provides its own in-house financing, BHPH dealers sell older cars at
relatively low prices, and cater to consumers with poor credit. Expect
to pay high interest rates, get very strict payment terms (weekly or
bi-weekly, cash only), and little or no forgiveness for late payments.
Many BHPH cars have remote starter interrupter devices that can be used
to disable the car if a payment is missed. Repossessions are frequent
at this type of dealer.
National
Used-Car Dealers - If you live in an area that has a Carmax
superstore, this is one of the largest, most reputable used-car dealers
in the country, and a good source of fair no-hassle deals — although
not necessarily the cheapest deals. They inspect the cars they sell,
provide a money-back guarantee, and a limited warranty.
New-Car
Dealers - Don't overlook this year's new cars as a potential
source of good bargains. There are currently tons of heavy rebates and
other incentives being offered by car manufacturers, especially on domestic
brands, that can often make certain new cars temporarily less expensive
than used cars of the same make and model. Long-term, new-car incentives
tend to also drive down the cost of used cars over time, creating a
new source of cheap cars.
eBay
-
is an entire section of the eBay web site that is dedicated
to selling used cars of all types and in all price ranges. Here's a
listing of cars
for under $3000. If you decide to buy a car this way, make
sure to take advantage of their buyer protection program. There
are obvious risks and possible extra costs involved in buying a used
car long-distance, but eBay know this and has made it easy and safe.
eBay registration is free. Find cheap used cars online at UsedCars.com.
Lease a
New Car - If your goal is simply to get low monthly car payments,
leasing a new car can be 30% to 60% less expensive than buying the same
car with a loan – cut your payments in half. This allows you to
drive more car than you would otherwise be able to afford. However,
be sure to read our free Lease Guide before
you make a decision to lease. It's not the right answer for everyone.
Lease a
Used Car - Used-Car
Leasing is an excellent way to acquire a cheap car. Leasing a used
car offers the lowest possible payments, much lower than buying with
a loan, and is typically less expensive than leasing a new car. Payments
can be as much as 60% less than loan payments for the same car. Leasing
may be an option regardless of where your used car comes from - from
a dealer, from a used-car lot, or from an individual.
Lease Takeover
- Swapalease.com
offers short-term lease takeovers at bargain prices. These are almost-new
cars being offered by sellers who are desperate to get out of their
leases. If you can find the car you want, this is possibly the cheapest
way to drive a good car. Payments can be very low compared to a new
car loan, or even a used car loan. Sellers frequently offer cash back
as an incentive for someone to take over their lease. These can be excellent
deals.
Free Cars
- If you live near a large city, you may be eligible for a Free-Car
Program. It's tough to qualify but the rewards are great —
a free car to drive. Free is about as cheap as you can get. Competition
is heavy so don't expect to get accepted right away.
Get Paid
to Drive - Get-Paid-to-Drive
Programs are similar to the previously mentioned free-car program,
except that you are paid to drive your own car with advertising displayed
on your own car. The proceeds can help make car payments and pay expenses.
That amounts to cheap transportation. Again, it's not easy to qualify
for these programs.
Government
Auctions - This is an often overlooked source of cheap cars
and trucks. Local, state, and federal governments frequently auction
surplus and seized vehicles. To participate, you have to know where
and when the auctions take place, and how to bid. See Government
Auto Auctions for more details.
Damaged
Cars - Bargain cars can often be found from sources of Salvage
Cars or Flood-Damaged Cars, although some repairs are often necessary.
Salvage Auctions and Insurance
Auctions are another possible source of cheap cars. Obviously, a
lot of caution must be taken to make sure you know exactly what you're
buying but, if done correctly, some great deals can be had this way.
Police Auctions
- Law enforcement agencies seize and impound vehicles from law-breakers
and sell them at public Police
Impound Auctions, for bargain prices. Many are high-end late-model
luxury vehicles in perfect condition.
Repossessed
Cars - Repo Car Sales
and Auctions are a good source of cheap cars. Banks repossess cars
from customers who stop making payments and default on loans. They sell
these repo cars to recover the remaining loan balance, if they car.
Bargains are not difficult to find.
Rebuildable
Wrecked Cars - If you have mechanical skills, Buying
and Rebuilding a Wrecked Car can be a way to a cheap ride. Cars
that have been declared total losses by insurance companies can often
be purchased for almost nothing. Many of these vehicles can be rebuilt
and restored to good running order.
Rental Car
Sales - Rental car agencies, such as Enterprise,
often dispose of late-model vehicles in public sales. Contact rental
agencies in your area to find out how, when, and where. Many people
use this method regularly for buying their family cars. Prices are often
lower than at used-car dealers because rental companies are not trying
to make a profit.
Purchase
from Individual - You can find cheap cars by searching newspaper
classifieds, web sites such as AutoTrader, and local car sales consignment
lots. However, great care is required in order to avoid problems with
such vehicles. Many are being sold cheap for a good reason. In many
cases, these cars have problems that the buyer is not disclosing. Such
cars are sold "as is" which means you have no recourse if
problems come up. See Used-Car-Advisor.com
for more advice. Find cheap used cars online at UsedCars.com.
Regardless of where
you decide to buy your car, be prepared to have the vehicle thoroughly
inspected, whether you do it yourself or hire someone to do it. By doing
so, you'll protect yourself from making serious mistakes that can't be
corrected later. Look in your telephone yellow pages for "vehicle
inspection service." Although there will be a small cost, it's a
good investment.
Cheap cars are out
there. You just have to invest a little time and effort to find them.
Find cheap used cars online at UsedCars.com.
For
more, see