Tips For Saving Money When Shopping For A Used Car

Mar 24, 2022
Money Saving Tips


Owning a car gives us access to independence when it comes to travel. But not everyone can afford to purchase a brand new one. When it comes to car shopping, buying a used car is one of the best options for saving money. Used car shopping also comes with its own set of challenges. So, if you're looking to purchase a used car but don't want to spend a lot of money, then this is the article for you. When it comes to shopping for a used car, the options can be a bit overwhelming.

We know the tricks of the trade when it comes to saving money when shopping for a used car. We've put together our top tips to help you learn the best ways of saving money when shopping for a used car.

 

Skip the Popular Brands

 

One of the best ways of saving money on cars is to go for the less popular options.

Many well-known car brands come with a higher price tag simply for the name. Because these popular brands are more in demand, you can expect to pay more for them.

For example, if you're looking at purchasing an SUV like the Audi Q3 or Honda CR-V, do some research on what other brands offer something similar, for less. When looking at SUV options, Ford and Kia come in at a lot cheaper but offer the same look and feel.

 

Go For an Older Year Model

 

A great tip for saving money on a used car is to choose an older year model.

Every year, brands come out with a new model of the same cars. Most of the time, these cars offer the exact same look and feel but with more bells and whistles. If you're looking at saving money on the price tag, you don't need the model with the latest technology.

 

Choose a Base Model Car

 

A base model refers to a car with less add-on features - like leather seats or a sunroof. At the end of the day, your car's main purpose is to get you from A to B, safely. So, if you're looking to save money then you don't need to choose the model with every extra feature.

 

Consider the Overall Cost of Ownership

 

When shopping for a used car, it's important to take into consideration what the overall running costs of the car will be, not just the upfront price.

For example, the more expensive the car is upfront, the higher your insurance premiums will be. Some brands also come with higher insurance premiums. Other running costs to consider are fuel consumption, servicing, repair, and maintenance.

 

Consider Purchasing a Service Plan

 

Servicing your car every year is important to making sure your car is safe to drive but it can also cost a fair bit. So, although adding a service plan might come at an additional cost upfront, it could save you money on repairs in the long run.

 

Go For an Electric or Hybrid Car

 

The cost of fuel has been going up more and more recently. So not only is an electric or hybrid car better for the environment, but it can also save you money in the long run. In recent years, more car brands are coming out with affordable electric vehicle options.

For example, the 2016 Nissan Leaf, is an electric car that covers more than 100 miles on a fully charged battery.

 

Wait For the Next Model Year

 

A great tip for saving money when shopping for a used car is to wait for the next model year on a type of car you want. When a car brand comes out with a new model year, it can trigger dealerships to want to sell the older year cars quickly to make room for the new ones. This results in great deals on offer for car buyers.

 

Know What You Want and Do Your Research

 

When shopping for used cars it's important to know what you're looking for. And if you don't do your research beforehand it can be easy for someone to try and rip you off. Know what your deal breakers are, and what you can live without. Set yourself a budget and you should be good to go.

 

Buy Your Next Car with Rapid Auto Loans

 

If you've read our tips above and are ready to purchase a used car, then look no further than Rapid Auto Loans to help make your purchase. If you need money fast and have a car you can put up as collateral, you can apply for a car title loan with us today to help you make a down payment on your 'newsed' one.

Even if you have bad credit, all we need is the title to your car, proof of insurance and a valid driver's license. Apply for a car title loan online today and you could be buying your new car tomorrow. Contact us at 954-960-7097 to learn more about our car title loans today.

 

OTHER ARTICLES

car equity

Your vehicle may be worth more than you know. With a car equity loan, the value of your vehicle determines how much cash you qualify for. This is why you should do all you can to prolong the value of your car. If you’ve never thought too much about car maintenance, then now is a perfect time. Need fast cash? Give your car the TLC it deserves. Here are our top tips on how to prolong the life of your vehicle.

Personal Loans vs. A Car Title Loan

Sometimes, the money that we need isn’t always available. Whether you need to pay for unexpected medical bills, plan a wedding, or even make rent, there are various financing options available. In most instances, personal loans require a decent credit score and lengthy paperwork. In comparison, car title loans work differently, allowing for fast approval and no credit check.

Are Title Loan Companies Trustworthy?

Auto title loans are a quick way to get that much-needed cash. But how do you know if they’re trustworthy? What if you’re getting involved with a scam? The good news is that there are trustworthy title loan companies out there. But you need to know what to look for. 

Credit Repair Tips For Managing Your Bills

Before starting a credit repair program, it is important to stay on top of your bills to stop late fees and negative hits to your credit score. The first step to staying on top of your bills is to always pay them on time. This article offers tips on how to stay on top of your bills, such as setting up auto-pay and reviewing bills online.

Tips For Saving Money

Saving Money With Six Easy Budgeting Tips

Aug 31, 2021
Money Saving Tips

Do you remember when you were a young child, dreaming of the luxuries that come with adulthood? While the independence and autonomy of adult life are rewarding, there are certain responsibilities that demand discipline and planning, such as saving money for something special.

How Can I Get Quick Cash If I'm A Single Parent?

Being a single parent is never easy. It's hard enough sometimes when there are two parents, but when you are forced to deal with parenting a child or children without financial help from a partner, the burden can at times feel debilitating. When you’re strapped for cash, it can be even more difficult. Whether you find yourself in an emergency or you just need a little extra at the end of the month, most people will need quick cash at some point. One of the easiest ways to get fast cash is by applying for an auto loan with Rapid Auto Loans.

Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:
3,233.68

APPROVED LOAN AMOUNT

0.00

Government Fee

25.00

Credit investigative Fee

11.55

Documentary Stamp Tax

3,270.23

Total amount Financed

11/1/2016

Original Loan Date

29.07%

APR

316.39

Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.