Don’t let the word cheap confuse you when purchasing a car. Normally the term cheap car infers a vehicle of inferior quality. That is really not the case. A cheap car is a car that is purchased at a great price. Here are a few examples of “cheap cars”:
- Dealer excess inventory: Purchasing a model year car later in the year when the dealers are getting a little anxious to get rid of the current year’s inventory in favor of the new releases presents an opportunity to buy a cheap car . Unless money is no object, wait until about September of the new release year to get your bargain. The later in the year you wait, the better chance for getting a cheap car.
- Auctions: Find out about auctions in your area. Some auction houses have photos of their inventory online. Grab your mechanic, take a look at the vehicles and be prepared to bid for your vehicle. Keep in mind that it is an auction. Do not get caught up in the bidding process and turn you’re your cheap car into an expensive car.
- Ebay: Speaking of auctions and bidding, you can find a good deal on Ebay. Sounds crazy, but cars are sold on the internet. The same bidding advice applies to Ebay as it does at auction houses. Don’t get carried away with wanting to win the bid and find yourself paying more than you intended.
- Program cars: Program cars are those cars driven by the employees of vehicle manufacturers. The vehicles were used for a short period of time for company business. The cars are serviced and maintained by the manufacturer while in the employee’s care. They’re usually sold before the odometer reaches 10,000 miles. If you can manage to get your hands on one of these program cars you’ve got a bargain. One person may call a program car a cheap car while another will call it a great bargain.
- Car rental companies: Similar to program cars, but with a little more wear and tear, you can may be able to find a great deal by purchasing a pre-owned car from a rental company. A word of advice – have your mechanic check it out before you buy and try to get some sort of warranty from the rental company.
Once you’ve purchased your car at a bargain, make sure you insure it for its full market value. Just because you bought it at a cheap price, doesn’t mean it’s a cheap car.
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