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Finding the Best Cars for Bad Credit

Many people across the world have a bad credit rating. While it can be a hindrance in getting a new car, there are many excellent vehicles for people with a less-than-perfect credit rating. In addition, making payments on a vehicle can be a great way to improve a credit rating.

 

 

When looking for a value-priced vehicle, it’s essential to look for a combination of reliability and quality. Entry level vehicles can vary significantly, so it’s essential to find a vehicle that won’t need lots of repairs.

 

 

There are many consumer reports agencies that list vehicle reliability over a long time. When choosing a vehicle, it may feel right to listen to advice from other people: one person’s bad experience with a car can be very illuminating. However, it’s important to be objective when choosing a vehicle. Look at the overall reliability ratings for a vehicle, instead of concentrating on advice from one or two people.

 

 

Look for a vehicle with as few extra features as possible. It’s possible to get a late model vehicle for a reasonable price, by avoiding an unnecessary extras. Instead of buying a vehicle with power windows and aluminum rims, choose one with manual roll up windows and steel hubs. This will not have a negative impact on vehicle appearance, and can be a great way to save money.

 

 

It’s also essential to look for fuel efficiency in a new vehicle. Many 4 cylinder engines can put out the same amount of torque as larger engines, based of differential gear transmissions. In addition, smaller engines often have lower overall maintenance costs.

 

 

Before buying a used vehicle with poor credit, it’s essential to make sure the vehicle one is purchasing isn’t a lemon. It’s a good idea to check the vehicle identification number (VIN) to see if there have been any odometer rollbacks, accidents, or vehicle theft alerts in the listed history.

 

 

Buying a new vehicle can be a rewarding experience, but it’s essential to research any buying decision.

Cheapest Cars for Bad Credit Auto Loans

best cars for bad creditA poor credit rating can impact one’s ability to buy a new vehicle on a payment plan. In addition, a poor credit rating will usually limit the types of vehicle someone is able to buy. Most car dealerships will only offer used vehicles to people with a poor credit rating. However, there are many advantages to buying a used vehicle over a new one.

 

 

A new vehicle may lose 30% of its value in the first year of ownership. Many car manufacturers and dealerships place a high markup on new vehicles. As soon as a new car is driven off the dealership lot, it has dropped in value. In addition, new vehicles are often untested, with unknown reliability ratings. It’s possible for a new vehicle to be a lemon, or have other inherent problems.

 

 

When buying a cheap car on credit, it’s essential to look for a vehicle with as few miles as possible. It’s better to buy an older vehicle with fewer miles, rather than a new vehicle with 150,000 on the odometer. A vehicle’s expected lifetime is based on wear and tear. A new vehicle that has been heavily driven will break down before an older vehicle that has been kept in storage.

 

 

When looking for a cheap car on credit, look for brands that are extremely reliable. Brands such as Mazda and Toyota are known for long lasting quality. These vehicles can often be driven for 300,000 miles before any serious problems emerge.

 

 

It’s also important to check a vehicle’s history before any purchase decision. Some used vehicles may have been involved in theft, resulting in extensive damage. This damage may have been repaired, but the structural integrity of a vehicle has been reduced. In addition, a vehicle’s history can reveal any odometer fraud, flood damage, or other forms of hidden damage.

Honda Fit hybrid in the works?

Best cars bad creditWith a starting retail price around $14,000, the Honda Fit is already a popular budget car choice for those with bad credit auto loans. One of the reasons the car is a popular choice is that its small size gives it a great fuel economy. But now, Honda might be prepping a hybrid version that would allow the small car to achieve even higher miles per gallon.

 

According to USA Today, Honda is planning to show off a Fit hybrid at the Paris Auto Show in the first week of October. The car, known as the Jazz overseas, has been a hit for the company. A strong selling point for the car, in addition to its affordable price, is its 28 miles per gallon in the city and 35 on the highway for a 31 combined rating.

 

However, the news source speculates that the vehicle’s future in the U.S. is in doubt, as a hybrid means slimmer profit margins for the automakers. Americans have also turned away from hybrids in recent months in anticipation of all-electric vehicles like the upcoming Nissan Leaf.

 

For drivers with car loans, opting for a vehicle with increased fuel economy can go a long way toward helping them with their car payments. If a vehicle represents a significant upgrade in terms of fuel economy, drivers will save money every month on gas, meaning that they will have extra cash on hand to put toward their car loan.

How to get the most bang for your buck when buying a used car

Best cars for bad creditIf you are in the market to buy a used car with a bad credit auto loan, there are a few steps you should take before you make a final decision. Shade Tree Garage, an auto repair shop in Morristown, New Jersey, recently offered buyers a few helpful tips for the selection process.

 
“Before shopping for a car, it’s important to do some homework,” said John O’Connor, the owner of Shade Tree Garage. “By spending time up front, you may save money in the long run.”

 
Go online to find out the average resale price of vehicles that you are considering, so you have a base knowledge when you begin discussing costs. You can also find information about the maintenance and repair issues that other owners have encountered, and don’t be afraid to ask for a vehicle’s maintenance records. If a car has had a lot of problems, there’s a chance that it will continue to do so, which could wind up costing you more than just buying a better car to start.

 
You should always test drive a used car before you buy to make sure that it actually runs.Try to drive on a variety of roadways to get a better idea of how it handles in different environments.

 
The Department of Motor Vehicles recommends that you check the major systems of a vehicle, such as the brakes, transmission, lights, doors, windows and everything else in between.

The 2011 Motorist Choice Awards approaches cars from a consumer angle

elantraThe 2011 Motorist Choice Awards approaches cars from a consumer angleThere are plenty of lists of best vehicles for all sorts of qualifications, but rarely do they venture outside of certain classes. However, one list does things a bit differently. Intellichoice and AutoPacific recently announced their 2011 Motorist Choice Awards, which are grouped by unique categories, rather than just by class, price or other standard classification of vehicles. Drivers who are looking to buy a car with an auto loan may not be set on a certain type or size. Instead they might be looking for a vehicle that suits an active lifestyle or something that will turn heads. These are some of the groups that the awards put together to make it easier for drivers to find a variety of vehicles that might suit their needs in one place.

"The Motorist Choice Awards are designed to assist consumers by using a categorization scheme other than traditional vehicle classes. Our research has shown that buyers often shop in more than one vehicle segment based on their needs and uses, rather than simply choosing a segment and then comparing models within it," said George Peterson, president of AutoPacific. "Whether buyers are seeking a kid friendly, youthful, or fun to drive vehicle – we have a suggestion that will fit their budget and needs."

The categories, such as Cargo Hauler and Fun to Drive, each have two winners, one for the luxury class and the other for popular models.

Volkswagen's Toureg and the Cadillac Escalade were named the best "High Tech" cars. The Scion tC and Lexus IS took home awards for being the best cars for younger drivers.

When it comes to value, the Hyundai Elantra was named the best car, along with the Lexus HS. U.S. News reports that the average price paid for a new Elantra is between $15,950 and $21,180. It is also the 5th most affordable new car according to the news source's ranking. Aside from the price tag, the Elantra provide a great deal of value at the pump. It gets 40 miles per gallon on the highway. The U.S. Department of Energy even ranked it the best car in its class for fuel economy.

The 2012 Kia Rio is making big waves with a small price tag

The 2012 Kia Rio is making big waves with a small price tag Kia announced on Monday that the price of the all-new Rio will start under $14,000. This is great news for car buyers who are shopping on a budget, or with an auto loan. The 2012 Kia Rio, which was unveiled at this year's New York Auto Show, can help drivers save money after they buy as well. The subcompact hatchback gets an impressive 40 miles per gallon on the highway and 30 mpg in the city, and drivers can upgrade their cars to include start/stop technology that really helps you make the most of every drop of fuel.

Start/stop technology has only been available in certain Porsche and BMW vehicles until recently, but USA Today reports that Kia's decision to include the efficiency-boosting system was easy. The Korean automaker's product planner, Steve Kosowski, told the news source that addind the technology was simple because it consists of only six parts.

"It's going to be very popular," Edmunds.com's senior editor, John O'Dell, told USA Today about the start/stop system. "It's a fairly inexpensive way to get a 3 percent to 5 percent fuel economy increase."

The safety technology automatically shuts off the car's engine after it has been idling for more than a few seconds, and starts back up when the driver presses the gas pedal.

The U.S. Department of Energy reports that turning off and restarting a car only uses a few seconds worth of gasoline, but that doing this excessively can increase the wear on the car starter. With start/stop technology, the ignition system is left alone, and the technology basically puts the engine on pause to help drivers save. The 1.6-liter four-cylinder engine of the Kia Rio is also impressive for its class, as it can generate 138 horsepower.

Kia has upgraded the Rio for the new model year, including air conditioning, three months of complimentary Sirius radio, and an audio system that can accommodate CDs and MP3 players. The $18,000 SX version of the new car will also come equipped with a voice-activated 4.3-inch color touchscreen infotainment system and a rear camera display.

NADAGuide recommends best current cars

NADAGuide recommends best current cars When it comes time to buy a car, it's easy to get overwhelmed by all of the car commercials that are aimed at winning over buyers, but it is important to keep your budget in mind when choosing your next vehicle. You should also research cars before going to a dealership to get a good idea of options that fit your criteria and your budget.

So where do you start? Well, NADAGuide recently published its Top Recommended Current Buys list, which puts an emphasis on low first-year depreciation values, competitive pricing and features that set the cars apart from others in their segment. The list includes nine current cars from nine different automakers – Volkswagen, Land Rover, GMC, Hyundai, BMW, Audi, Chevy, Ford and Toyota.

The 2012 Hyundai Tucson is the most affordable car on the list, with a starting price of about $19,000, which makes it a good choice for drivers who are looking into car financing. For a crossover, it also gets pretty good mileage – up to 32 miles per gallon on the highway – which is better than the 28 mpg that the Honda CR-V and the Toyota RAV4 get.

Other vehicles to make the list include the Volkswagen CC, the Ford Mustang and the BMW 6 Series.

Your car can influence your reputation at the office

Your car can influence your reputation at the officeFor many people, the car they drive serves as a status symbol, especially in the world of business. A boss who shows up to work in a beat-up old clunker will not likely command the same level of respect from their employees as one who rolls into work in a sleek, classy ride. People who either want to make a good impression at work, or are looking to enhance their image, can check out a new series of top cars for CEOs released by Chief Executive Magazine and Edmunds.com.

The first part of the series, "Cars for Work," features vehicles that are high-tech and low profile, which is great for the businessman who doesn't want to drive something too flashy, but also doesn't want to sacrifice on the amenities.

"These wheels will carry you in comfort, while making the kind of statement you're comfortable with," said co-authors Bill Holstein and Edmunds.com executive editor Michael Jordan. "They are both practical and pleasurable – they will actually make you look forward to your daily commute, yet won't draw undue attention in the office parking lot."

The new cars that made the grade include the Hyundai Equus, BMW 335d, Chevy Volt, Audi A8L and the Mercedes-Benz S40 Hybrid. Businessmen and women who are planning on car financing can consider older models of these vehicles so they can still ride in style without breaking the bank.

What to consider when buying a car

What to consider when buying a carBuying a car is not just about finding the right vehicle to suit your budget – it's also important to love the car you wind up buying. This can be especially true if you are planning to use a car loan, because those monthly loan payments will just be a recurring reminder of the car you hate but are stuck with.

"You can cut an amazing deal, but its not an amazing deal if you hate the car," Mike Quincy an automotive expert at Consumer Reports, told Forbes. "If it's noisy, or you don't fit in it comfortably, or it uses too much gas, it's not a great deal."

Forbes recommends that motorists research cars based on reliability and overall cost of ownership. Depreciation and fuel costs make up 46 and 26 percent of the overall cost of owning a car, respectively, and the rest is determined by auto loan interest, sales tax, insurance, maintenance and repairs. For instance, a new Ford Flex with an EcoBoost engine will cost the same as a Toyota Yaris, initially. However, the money drivers save at the pump over a five-year span can be as much as $14,000 in just five years, which makes the Flex less expensive in the long-run.

Best cars under $5,000

Best cars under $5,000Just because you're shopping for a car on a budget, doesn't mean you have to wind up behind the wheel of some old beater that barely runs. There are plenty of affordable options for motorists who want decent cars for their money, and Jalopnik recently asked its readers to recommend their top choices for drivers who want to buy used vehicles with bad credit car loans. For the most part, the top ten choices were all made in the 1990s and early 2000s. These cars were not chosen for their performance, their good looks or their fancy features. Rather they were chosen because they are reliable options that drivers can count on to last and not cost them a fortune.

The Nissan Sentra was the number one choice because of its reliability, and a 1999 model in good condition can be purchased for $2,300. The low price is due to the immense volume of Sentras in the U.S., and the car is nothing terribly special. The base '99 model came standard with a 1.6-liter inline-four engine and only kicks out about 115 horsepower.

The reader recommendation that came in third is not a specific vehicle, rather Jalopnik lists old trucks as a good option, whether you prefer the Ford Ranger, Toyota Tacoma or any other pickup. The news source cites availability, practicality and mechanical simplicity as a few of the reasons that trucks are affordable vehicles, but keep in mind that you'll likely be the one your friends and family call when they need help moving. If you don't mind doing this or if you have a lot of stuff that needs to be hauled around, a truck could be the right choice for you.

The Honda Accord from the 1990s is the tenth car on the list because it is inexpensive – a 1999 model sells for about $3,300, according to Edmunds.com – and it's reliable. The news source reports that the parts are durable and standard so when they eventually need to be replaced, the new parts will be less expensive than you might find in other cars.

Other cars that made the list include the Ford Crown Victoria, Buick Regal, motorcycles, Geo Prizm, Ford Escort, Buick LeSabre and Kia Rio.

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