Advantages of a Used Car for your Teen

Choosing the first car for your teenage driver can be a difficult decision. You want a car for them that is practical, safe, and something they will enjoy driving. Unfortunately, most teens want a brand new car that is expensive and in style. However, you should buy a car that is safe and practical for a first time driver. First time drivers are still processing that driving is a responsibility and a privilege. A lot of car accidents are caused by teens that are inexperienced. There are many advantages of buying a used car rather than a brand new one because of those reasons.

One of the best advantages of buying used rather than new is there will be less worry from the parent about damage. New cars are very expensive and even more expensive to fix. Used cars cost less, yet run just as great as new, and the repairs are usually less expensive. If you buy an older used car that you plan on having your teen only drive through high school, you will be less likely to worry about any minor damages from backing up too quickly or not making the smoothest of turns. There are bound to be small nicks and dings from a new driver. You can always sell or donate the car and not lose a lot of money since the car was used and not brand new.

Another great advantage of a used vehicle is the cost factor. Used cars have less depreciation as a newer car and cost considerably less. Insuring a teenage driver is also very expensive, and the new the car the higher the rates. Older cars are more affordable, and you have to calculate for insurance being more expensive at the start because of the age of the new driver. There is no reason for a 16 year old to be driving a $70,000 vehicle and pay hundreds of dollars every month in insurance. You can purchase a used one for much less money that is still safe and properly functioning.

Older vehicles are usually a little bigger and safer. It is common for a new driver to get into a minor fender bender or back into something. Your teen will be safer in a bigger vehicle and will be likely to only damage the car and not themselves. Older cars still have the same safety features as new cars such as dual air bags. A lot of new cars are made with light, thin materials so they will go faster. Speed is not so great for a new driver as it is for the more experienced.

Used cars are great because if anything was wrong with it, the previous driver would have gotten it fixed. New cars are unpredictable and can have a lot of repairs because it is the first time they are being driven. If your teen is paying for the maintenance of the vehicle, they will save money by owning a used one. Properly maintained used cars run just as smooth as a new car and cost half the price.

About the Author: Greg Chapman of Greg Chapman Motors is a knowledgeable and leading provider of used cars, trucks, and SUV’s. Since 1959, Chapman motors has supplied reliable Austin used cars and is known as one of the best used cars austin dealers. For more information please visit http://www.gregchapmanmotors.com.

Tackling Major Car Shopping Decisions

If you are in the market for a vehicle, you have likely already figured out that there are far more decisions to make than which vehicle to purchase. Here we examine some of the major decisions that confront car shoppers, as well as advice on how to address them.

-New or used? Though the prospect of owning a brand new vehicle that has traveled only a few miles in its lifetime may sound intriguing, many people find that they can get a better value by purchasing a pre-owned vehicle. New vehicles depreciate significantly the moment they leave the dealership, so a portion of the hefty retail price you are probably yet to pay immediately goes down the drain. With the advent of companies such as CARFAX, great quality used vehicles are becoming easier to distinguish from damaged or troublesome ones. A CARFAX report will give you important insight into the background of any vehicle, and good used car dealerships will provide you with a CARFAX report on any of their vehicles at no cost to you. If you can only afford a low end, basic but brand new vehicle, you will probably be far more satisfied in the long run with slightly used, low mileage vehicle with all the bells and whistles for the same price or better.

-How should I pay for the vehicle? The method of payment you choose to use in paying for your vehicle depends largely upon your individual financial situation. However, most people choose to obtain loans for vehicle purchases, and pay off the balance in regular intervals over time. Financing a vehicle purchase is a great way to make a vehicle more affordable, and can help improve your credit score when done correctly. If you choose to finance your vehicle through a dealership, ensure that the dealership offers in-house financing and reports to at least one of the credit bureaus. Following this advice and making timely payments on your loan can help you not only afford the vehicle you want, but improve your credit score in the process.

-What kind of vehicle should I choose? The multitude of vehicle models and options can leave your head spinning at first glance. By considering your lifestyle and what benefits you expect to get from your vehicle, you will narrow down the options significantly and begin to see that select types of vehicles fit your criteria. Make an honest assessment of your requirements, and differentiate between what you must have and what you would like to have. If you have three young children, having enough seating for car seats and space to store strollers and luggage is a requirement. But a red SUV with an automatic sunroof and steering wheel radio controls probably falls into the category of what you would like to have. Of course, you should seek out a vehicle that will leave you satisfied with the way you have spent your hard earned money, but the perfect vehicle usually requires some degree of trade off when it comes to accessories, options and colors.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading Austin used car dealer. For more information please visit Greg Chapman Motors.

Considerations for Financing a Used Car

If you are in the market for a used car that you plan to finance, you have likely determined a few features you are looking for in your new vehicle. Whether your new used car must have a certain size engine, be produced by a particular manufacturer or have an automatic transmission, you probably have some predetermined preferences in mind. With the excitement surrounding the prospect of cruising down the road in your new vehicle any day, do not neglect to find out some important details about financing through the used car dealer with whom you are doing business. Here we examine some simple questions you should ask a used car dealer up front regarding your loan:

-Will my loan be financed in house, or outsourced to a bank or other financial institution? The answer to this question will tell you whether the used car dealer is truly your lender. Dealers who outsource your loan to another entity are serving as a middle man on your loan, and probably charging you a premium for the service. If your loan is financed by a bank, there will likely be multiple inquiries made on your credit, which will negatively affect your credit score. Asking this simple question will also let you know with whom you will be dealing should any questions arise regarding your loan in the future.

-Do you report loans to a credit bureau monthly? Once you determine that your used car dealer will be handling your loan internally, make sure that your timely payments will be reported to a credit bureau. Financing a car is an excellent opportunity to improve your credit score, but that will only happen if the lender is reporting your loan status to a credit bureau.

-How much will my monthly payments be? Before you sign on the dotted line, make sure that your budget allows for the monthly payment amount associated with your loan. Ensuring that your monthly payment amount falls within your budget will prevent financial problems in the future, and allow you to take advantage of the credit boost associated with making your payments on time each month.

In addition to establishing a financing arrangement that will benefit you in the long term, make sure you are investing your hard earned money in a worthy vehicle by checking its background for past accidents, use as a rental car, flooding and other incidents by obtaining the CARFAX report. Reputable dealers will often take this step for you, providing the CARFAX report on any of their vehicles at no cost to you.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading used car dealer Austin has depended on since 1959. For more information please visit Greg Chapman Motors.

What Kind of Used Car Should I Buy?

Purchasing a used car can be a wise financial decision, costing you thousands of dollars less than a brand new vehicle from a dealership. Since new vehicles depreciate significantly immediately after purchase, a used vehicle can give you the optimal value when planned for and chosen wisely. Deciding on the best vehicle to purchase is a common concern for consumers who are navigating the vast used car market.

Determining the best type of vehicle for you begins with assessing your expectations and requirements of the vehicle. If vehicles were only intended to transport us from point A to point B, the plethora of diverse models available in the used car market would never have been introduced. Your vehicle’s purpose is unique to you, so make an honest assessment of your lifestyle and needs when pondering the best vehicle to purchase. Do you have children and need a four door for back seat accessibility? Do you need your vehicle to be capable of pulling a boat or trailer? Does your height warrant extra leg or head room? Do you have a long commute and aim to minimize fuel costs? Creating a comprehensive list of your requirements is crucial to selecting a vehicle that will meet all of your needs and keep you satisfied with your purchase in the long run.

Once you have determined the totality of your vehicle requirements, the vehicle options will be narrowed significantly. At this point, you can begin to research vehicle models that seem to fit the bill by asking around and consulting the internet to get a consensus of current owners’ experiences with particular models. The internet is an excellent tool that allows you to read reviews and comments from people who already own the type of car you are considering. Repeated and common complaints about the same problems on a particular vehicle are a red flag and should be taken seriously. Make sure to visit several sites and trust your instincts based on consumers’ collective opinions and claims about a vehicle.

You may choose to visit a used car dealership and seek the assistance of a professional to help determine the best vehicle for your needs. If you choose this route, make sure to assess your expectations as explained above before visiting a reputable used vehicle dealer. A sales representative who is familiar with the inventory can introduce you to different options that the dealership has available. Providing you stay focused on your personal requirements, assistance from an industry professional can be an informative and helpful component of your used car search.

Regardless of the procedure you follow in determining the type of vehicle to purchase, always obtain a CARFAX report on a vehicle before purchasing. This report, which details the history of a particular vehicle, can be easily obtained and is often provided at no cost by reputable dealerships.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading provider of used cars Austin can rely on. For more information visit Chapman Motors.