Where to spot bargains when buying a car
Car prices have stayed low because dealers are hurting
We serve all credit levels, but since we specialize in bad credit, we'll start by noting that bad credit car loans average $12,000 or less. So that'll be our price range for a cheap car; something near the national average $380 monthly car payment.
There are brand new cars in that price range. You can find $12,000-ish list prices on small cars such as the Toyota Yaris, Nissan Versa, Chevy Aveo, Kia Rio, Honda Fit, Hyundai Accent or Smart ForTwo. (The cheapest Ford runs around $15K.)
Bargains are to be had with Saturns (as the brand is being discontinued and everything must go). Same with the Pontiac Vibe, which is the same car as the Toyota Matrix. Discontinued brands lose resale value, so they drop in original price.
You can even find luxury cars in the $12,000 or so price range if you go back enough years. With some manufacturers, Lexus, for instance, you'll see fewer reported problems on an 01 model than some manufacturers have with their new cars!
