Once a driver has a car loan, many will automatically assume that they should be shopping the used car market. And when it comes to used cars, Toyota Camrys and Corollas are popular choices for their features and longevity.
Still, drivers should know that in many cases they’ll be able to use their car loan to get in a new car, and there are many great value picks available. Staying with Toyota, for example, drivers might want to look at the affordable Yaris.
The Yaris might not have all the bells and whistles of a new Corolla or Camry, but it does come quite a bit cheaper. The vehicle starts at $12,605 for a 3-door liftback, but just $300 more gets a 5-door model. A step up from that is a sedan, priced at $13,365.
The vehicle boasts a great 29/36 EPA rated fuel economy along with plenty of space. It also comes with standard air conditioning, which many other dealers will charge over $1,000 for.
With recent Toyota recalls, sales have slowed for the Japanese automaker. Many dealers will be looking to sell vehicles at whatever the cost. Armed with this knowledge and a car loan, drivers will have a lot of purchasing power when it comes to dealer negotiations – and that means a better price on the car they’re looking for.