Cost Considerations for Used Cars
You’re considering purchasing a new or used car, but when it comes to the cost and your budget – what should you know about? For starters, used cars are the most affordable. The average new car can range anywhere from $20,000 to $55,000 according to Kelly Blue Book. While the average used car can range anywhere from a few thousand to the average $13,000.
Beyond the sticker price, it’s smart to get ahead of expenses like maintenance, repairs, parking, gas and more. To get a handle on your budget, determine ceilings for down payment costs, monthly payments, insurance in addition to miscellaneous expenses like parking and gas. Here’s what you need to remember when budgeting for your used car.
Staying open minded can save you money. Considering more basic features, shopping similar models and even your choice of hue – all these can make a price difference.
Cash or financing?
If you are able to pay cash, more power to you! You’ll save on interest and avoid recurring car payments. If you are not buying with cash, financing might be at the top of your list. You’ll want to consider your credit score. Typically, the best rates go to those with high credit ratings.
Gasoline prices rose overall by four cents in January, along with increased consumer demand, according to a release by AAA. The national average for regular gas per gallon is at $2.54 versus $3.01 for premium. You can use a calculator to prepare for annual gasoline costs. Depending on your daily commute this could be a significant factor to consider when purchasing a car.
Look at auto insurance options early. To save the most money shop several insurance companies. The average auto insurance rates are more than $900 per year depending on your driving record, insurance history, the type of car you drive, how far you drive and event where you live.
Review your contract
Review your contract for fees and financing figures – and make sure numbers match up and the price you agreed upon, the rate and the payment. Don’t be surprised to see state and local taxes, registration fee and documentation fees.
Carousel Pre-Owned serving Iowa City, Cedar Rapids, Davenport, North Liberty, Marion, and Coralville, IA is proud to be an automotive leader in our community. Since opening our doors, Carousel 2 has maintained a solid commitment to you, our customers. We do our best to ensure your complete satisfaction every time you step into our car dealership. This is why we offer the widest selection of used and pre-owned Cars, Trucks, and SUVs and provide true ease of purchase in Iowa.
Date: Mar. 13 , 2018 | Category: Car Shopping
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You’ve decided to purchase a new car – fantastic! We invite you to look at our online selection of used cars and certified pre-owned vehicles. We are confident that your dream car is here on our parking lot. As you’re looking for your vehicle, we’ve compiled a helpful checklist for you to reference to help ensure a fantastic customer experience.
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