Buying a new car is going to cost you a pretty penny. The average cost of a new car currently sits at over $40,000.
It’s why you should consider buying a used car instead. You can get one for just a fraction of the cost of a new car, and in a lot of cases, it won’t be that much older than a new one.
Before you jump into buying a used vehicle, though, you need to know what to check when buying a used car. The last thing you want to do is come home with a used car that isn’t going to last you very long.
Here are some of the top things to look for when buying a used car.
How Many Miles Are On the Car?
One of the first questions to ask when buying a used car is about how many miles are on it. You can tell a lot about a car based solely on the number of miles that have been put onto its odometer.
The more miles that a car has on it, the more wear and tear it has endured. You might want to shy away from investing in a used car that has more than 100,000 miles on it unless you want to plan on having to do a lot of repairs and maintenance to it.
It’s worth noting that you can get 200,000 miles out of most cars these days. But even still, you should be careful about buying a car with too many miles on it.
How Many People Have Previously Owned the Car?
In addition to checking out how many miles are on a car, you should also take the time to see how many people have owned it in the past. It might help to shed some light on how well a car has (or hasn’t!) been maintained.
The fewer previous owners that a used car has, the better it has likely been maintained over time. You may want to shy away from buying a used car if it has had several owners in the past.
Has the Car Been Involved in Any Accidents?
When you’re considering what to look for when buying a used car, you should, of course, check to see whether or not a car has been in an accident or, worse, multiple accidents. You don’t want to buy a car that has been in a handful of crashes over the years.
It’s not the worst idea in the world to buy a used car that was involved in a minor fender-bender in the past. It might be a good way to get a great deal on a used car that is still in great shape.
But you should be wary about buying a used car that has sustained damage during a number of accidents. It might not be safe enough for you and your family.
Ask Yourself These Questions When Buying a Used Car
Buying a used car can be a little bit of a stressful process. But it’ll all be worth it in the end if you’re able to secure a great car for a great price.
Keep all the tips for buying a used car that we’ve talked about here in mind as you try to do it. It’ll make the process go so much smoother than it would otherwise.
Read through the other articles on our blog for more tips on buying a car.
Polestar Cars has just announced the formal pricing of the Swedish brand’s first pure electric car, the 2021 Polestar 2. The electric performance fastback has an MSRP of $59,900 in the United States.
The MSRP of the Polestar 2 is below state incentive thresholds in critical markets such as California and New York. Additionally, this price enables state rebates of approximately $2,000 in certain states*, for total tax incentives of up to $9,500 when combined with the federal electric vehicle tax credit.**
“We are quite enthusiastic to announce the U.S. pricing for the Polestar 2,” said Gregor Hembrough, Head of Polestar USA. “The MSRP is lower than we originally targeted, and will be extended to all of our current reservation holders.”
“With an online purchase option, lower pricing, considerable tax incentives, and production already underway, the Polestar 2 is well-positioned for a successful entry into the U.S. market,” continued Hembrough.
Polestar also announced option pricing for the Polestar 2 depending on which add ons someone hopes to add to the car. The performance pack comes in at $5,000 and the Nappa Leather Interior is priced at $4,000. The stunning 20-inch Alloy Wheels and the Metallic Paint Colors both come in at $1,200.
This vehicle is priced in the same range as the 2021 Tesla models that have been released. The 2021 Tesla Model Y is starting at $49,990 and the 2021 Tesla Model S is priced beginning at $69,420. The current average price for an electric car is around $55,600, so the Polestar 2 falls right on par with this average.
The Polestar 2 arrives with 408 hp and 487 lb.-ft. of torque, very powerful for an electric car. The vehicle also features all-wheel drive and a 78 kWh battery pack, which enables considerable EV range. The car has an MPGe of 96 in the city and 88 on the highway.
The Polestar 2 is also the first car in the world to feature a built-in infotainment system powered by Android, featuring voice command via the Google Assistant, Google Maps with EV charging support and app downloads via the Google Play Store. The car features innovative technology throughout. The interior of the hatchback is modern yet minimal creating an opulent feel for passengers.
The Polestar 2, which began production in late March, has already begun delivery to U.S. reservation holders in summer 2020. With a digital retail model, the Polestar 2 is available to purchase on Polestar.com.
In order to replace car dealerships, the brand will soon open physical retail showrooms—Polestar Spaces—where non-commissioned Polestar Specialists will be able to assist customers with product information and test drives. Polestar Spaces are designed specifically to allow people to explore the cars without the pressure of committing to a purchase. The first of these locations have opened in California and New York as of late summer 2020, and the next additional locations are currently set to open in Denver and Austin.
The Polestar 2 is available for sale in all 50 states and Polestar will announce lease and retail finance options for the vehicle in the near future.
In the pursuit of accelerating sustainable mobility, Polestar, the electric performance car brand, today released a multi-episode video series featuring Golden Globe winner Oscar Isaac. A champion for climate justice, Isaac delves deeper into Polestar innovations which aim to improve today’s society, and that of the future.
In partnership with The Wall Street Journal, “Making aNew” is a five-part mini docuseries which seeks the truths behind Polestar’s ethos and advancements in sustainability, electrification and performance. The video series is available to view today at www.polestar.com/us/making-anew.
“As the automotive world moves to electrification, important terms such as sustainability and clean energy are becoming generic slogans with diminished meaning,” said Oscar Isaac. “After learning about the company, I feel better about driving a Polestar because the brand is transparent about how its cars are produced, accountable for its impact on the planet and taking action to truly offset the footprint of its vehicles.”
Since the launch of the brand in 2017, Polestar has become synonymous with the development of new technologies, harnessing refined performance and incorporating unconventional materials in the development of its vehicles.
More recently, the brand began publishing detailed climate impact reports of its electric vehicles as they leave the production line, aiming to be the most transparent company in the automotive industry. As a proof point of this pledge, Polestar has published a full lifecycle analysis of the Polestar 2 Electric Fastback, and will release its first annual sustainability report in March of this year.
“We are determined to be the guiding star for our industry, accelerating the shift to more sustainable mobility. Innovation, clean energy, circular materials and transparency are areas of particular focus. A great example of this is the use of blockchain to improve the accountability of our cobalt supply chain,” said Fredrika Klarén, Head of Sustainability at Polestar. “Collaborating with visible activists like Oscar, who are as passionate about carbon-neutrality as we are, will help raise awareness and understanding, paving the path for a more sustainable future.”
Polestar is the independent Swedish premium electric performance car brand founded by Volvo Cars and Geely Holding. Established in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. The company is headquartered in Gothenburg, Sweden, and retails its vehicles in ten global markets across Europe and North America, and in China.
Polestar produces two electric performance cars. Polestar 1 is a low-volume electric performance hybrid GT with a carbon fiber body, 609 hp, 738 ft.-lb. and an electric-only range of 60 miles – the longest of any hybrid car in the world. The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. Polestar 2 launched in 2020 with an all-wheel-drive electric powertrain that produces 408 hp and 487 ft.-lb., with a maximum range of 233 miles EPA (292 miles WLTP).
In the future, the Polestar 3 electric performance SUV will join the portfolio, as well as the Precept – a design study vehicle released in 2020 that is slated for future production. Precept showcases the brand’s future vision in terms of sustainability, digital technology and design.
*All tax information is current as of April 15, 2020. Government incentives are for informational purposes only and subject to change without notice, nor are within Polestar’s control. Incentive programs are offered and administered by government agencies. Eligibility and availability vary. Visit your state program’s website for the most up-to-date information on availability and redemption requirements. Your eligibility for income tax credits depends on your personal tax situation. Polestar encourages consulting with your tax advisor for details.
**The IRS offers a Qualified Plug-In Electric Drive Motor Vehicle Tax Credit of up to $7,500 on the purchase of qualifying vehicles. This is not tax advice. Consult your own tax advisor for details.
TMNA is releasing a new and updated version of the faithful Toyota Corolla in 2021: the limited edition Corolla Apex Edition. The company will manufacture only 6,000 editions of the SE and XSE editions.
As a bonus, Puma and Toyota collaborated on a limited edition Corolla Apex sneaker that corresponds with the car’s launch. Only 50 units were fabricated – we got number 25! They perfectly match the vehicle and they came just in time as we celebrated the Los Angeles Lakers Championship win, honking and flickering our lights in Downtown LA near the Staples Center. Just like LeBron during the NBA playoffs, this compact car was the star attraction. After all, it is one of the top selling cars in the world.
This new model has the same horsepower as its predecessor, same TNGA-C platform, but is nearly unrecognizable in its new form.
Most of the editions will be equipped with the Dynamic Shift CVT, otherwise known as a continuously variable transmission, and colloquially known as an automatic. For those who love driving stick, Toyota is also offering just 120 models based on the SE edition that are equipped with a 6-speed Intelligent Manual Transmission.
This car leans into sportiness that has never been characteristic of a Corolla, yet does so gracefully. The new model rides lower to the ground, flaunts bronze accents, a front spoiler, fog light covers, side moldings, a rear diffuser aid in high-speed vehicle stability, and an optional rear trunk aero spoiler for those who wish it theirs.
Chrome exhaust tips accent the vehicle and black mirror caps give it an edge. Low profile, black, 18-inch wheels that are lighter than Corolla’s standard and unique to the Apex, according to Anthony Alaniz of Motor1, add to its humble discretion. LED headlights, turn signals, and taillights make sure you are safe, while the smoked-out light lenses of the taillights add to its undeniable dominance, and a large sunroof is an added bonus, especially on lazy summer nights.
The SE model is attired in premium fabric upholstery, while the XSE edition sports black SofTex®-trimmed fabric upholstery, heated front seats, and an eight-way adjustable driver’s seat with power lumbar support.
This Corolla is powered by its 2.0-liter Dynamic Force Engine, which obtains its power from high-compression Toyota D4-S fuel injection system (13:1), according to Toyota’s press release. The VVT-i on the exhausts uses an electric motor instead of oil, making for a more eco-friendly and efficient exhaust.
The limited edition model has a 169 peak horsepower at 6,600 rpm and 151 lb.-ft. peak torque at 4,800 rpm, which is standard in previous Toyota models.
With the automatic transmission in the SE model, the EPA-estimated fuel economy is 31 city / 41 highway / 34 combined MPG, and the XSE’s is 31/38/34, respectively. With the manual transmission, the fuel economy is 29/36/32 MPG.
Toyota also took the model one step further in safety. The Apex Edition, along with all 2021 Corolla models, will have Toyota Safety Sense 2.0 suite of driver-assist technologies, standard. This includes a pre-collision system with daytime/low-light vehicle and pedestrian detection, plus daytime bicycle detection, full-speed range dynamic cruise control (CVT only), lane departure alert with steering assist and road edge detection, automatic high beams, lane tracing and road sign assist.
In addition, rear side airbags were added to the design, bringing the total number of airbags in the vehicle up to 10. Rear Cross-Traffic Alert with a Blind Spot Monitor is now standard on XSE models, and optional for SE models with CVT. In addition, all 2020 Corollas gain an Automatic Engine Shut-Off. This add-on will automatically turn off the engine after a designated period in the event it is left running.
As a special value, Toyota’s press release notes that, “the 2021 Corolla LE grade (gas model) will offer a new Convenience Package that combines Blind Spot Monitor, Smart Key system and 16-inch alloy wheels.”
The new Corolla Apex Edition sports new Android Auto compatibility, which complements the Apple CarPlay and Amazon Alexa potential connections already standard in this model’s predecessor, the 2020 Corolla. In addition, SiriusXM and its 3-month trial period is now available across every Corolla model.
Furthermore, the vehicle is endowed with a more efficient cooling system; the two-discharge-port oil pump and variable cooling system with an electric water pump maximizes engine engine performance and efficiency. This ensures quicker cabin heating on cold days and quicker cool-down when the A/C is on. When combined with ultra-low internal friction, the 2.0-liter engine operates at a maximum thermal efficiency of 40 percent, which is among the highest for a current passenger vehicle, according to Toyota.
The least expensive edition of the Corolla Apex, the Corolla Apex SE with a CVT, is $2,695 more than its predecessor, which brings it to $25,070. The Corolla Apex SE with a six-speed manual transmission clocks in at $25,460, and the Corolla Apex XSE at $28,210.
Ultimately, the new model’s suspension and fresh look are most noteworthy. New coil springs with internal rebound shocks allowed designers to lower the suspension 0.6 inches. This, combined with rigid, stabilizer bars, creates a stiffer suspension. Roll stiffness is now 47% more stiff in the front and 33% more in the rear—a marked improvement. And, its look undeniably transforms any preconceived notions about the Toyota Corolla, as it seems to have evolved into a chic sports car.
If you are looking to surprise your significant other with a luxurious present, look no further. If you are a young professional looking to impress your colleagues in the parking lot, you have come to the right vehicle. If you are a new parent concerned with style, safety, and reliability, this is your car. Whoever you are, the Toyota Corolla Apex can be the ideal vehicle for you.
Buying a car is exciting. It’s the perfect example of out with the old and in with the new! You’ve already begun looking at different vehicles and narrowing down the type of vehicle you want based on the make and model.
As exciting as it is to purchase a new car, you should keep a few car buying tips in mind throughout the process. If you’ve never purchased a car before or haven’t done it many times, then it’s important to know that there are people out there looking to scam you.
Unfortunately, getting scammed when buying a car is quite common. Don’t let it happen to you. Continue reading below for a list of car buying tips and tricks!
Your first step, after figuring out what type of vehicle you want, should be to start comparing prices. Look up the vehicle you want based on the make and model. Look at several different sites and see what dealers are listing it for.
Keep in mind that private sellers will have theirs listed for a cheaper price than the dealer, but there might be more risk involved buying from a private seller.
You can do a check online on car value sites to get an idea of what a fair value is as well. Once you’ve compared prices, you can get a good idea of what you should pay for that vehicle.
Visit Your Bank
If you’ve found a specific vehicle you think you want to go look at, then your next step should be to visit your bank. Credit unions are a great choice for taking out loans. If you don’t bank with one, you can still take out a loan with them by opening a savings account.
When you visit the bank, have information on the vehicle with you. The VIN number is most important. Your bank will be able to tell you what a fair price for the vehicle is. If the vehicle you want isn’t listed for a fair price, the bank won’t give you a draft for what the dealer is asking.
Instead, they’ll give you a draft for a fair price, and you can use this as a negotiation tool.
Run a VIN Number Check
If you decide to take a loan out with the bank, the bank will run its own VIN (Vehicle Identification Number) check. If you don’t, then you’ll want to run a VIN check yourself. You might have to pay a fee to do this, but it’s worth it and can save you from being scammed.
A VIN check will tell you how many owners the vehicle has had, all different states the vehicle has been owned in, any accidents, and maintenance reports. This information is crucial. If the vehicle comes back as a rebuilt title, then this means the vehicle was totaled and you should avoid making the purchase.
Take It for a Test Drive
Always take the vehicle out for a test drive. When taking it out for the test drive, you should be sure to take the vehicle on a road where you can go over 55 mph. This will give you a good idea of how the car reacts to higher speeds.
Some issues might not appear until the vehicle goes over a certain speed. When testing driving, be very attentive. Listen for all sorts of noises.
You can turn the radio and AC on to ensure they both work, but then lower them so they don’t drown out different sounds that could signal problems.
Have Your Mechanic Inspect It
Have a mechanic come out and inspect the vehicle. If you’re buying a used truck, then there are certain things you want to ensure it has and ensure are in working order. These things might be different if you’re buying a car.
Your mechanic will know what to look for and what to check. Cars that come from up North or if you’re buying in a state where it snows, then look out for rust under the vehicle.
If the mechanic says it passes the test, then you’re good to go. If the mechanic finds any issues, then you can discuss these with the dealer and ask about lowering the price or fixing the issues before selling it to you.
Ask the Dealer About Discounts
Don’t hesitate to ask the dealer about discounts as well. Some dealers will give discounts on certain vehicles. There are also deals and specials that dealers give out during certain times of the year.
Be on the lookout for these deals and discounts. You can call the dealer ahead of time and ask if they have any current deals or when their next big sale will be. Those are the best times to shop.
Prepare to Negotiate
At last, it’s time to make the purchase. Prepare to negotiate the price before settling with the price the dealer listed. If you have a draft from your bank, then you can use this to negotiate.
The dealer should be willing to sell you the vehicle for the price the bank offers in the draft. If you’re not good at negotiating, then consider bringing a friend or someone with you who is. Don’t feel bad about it either.
Dealers are expecting buyers to try to bring the price down and in reality, they price the cars higher than fair price for this reason. It’s up to you to get them to come down to a fair price.
Don’t Forget These Car Buying Tips
If you’re ready to buy a car, then don’t forget these car buying tips! Knowing a few tips for buying a used car is the best way to ensure you get a good deal and avoid being scammed.
For more posts on auto and motor, be sure to visit regularly!
By Krishan Narsinghani, Vivek Lalchandani × Vaughn Lowery
Driving dynamics, heritage, sexiness, imposing, Chevy. What are you thinking of? ’63 Corvette with a split window? Mid engine C8 Corvette? Chevelle? Camaro? Wrong – everyone is talking about the 2021 Chevy Trailblazer.
GM pulled a bold move bringing back the Trailblazer name. An even bolder move is to make it a unibody construction compact SUV. 360 Magazine had the opportunity to spend some time with the little monster and definitely raised the game for competitors like the Honda HR-V, Toyota CH-R, and even the new Kia Seltos and Hyundai Venue/Kona. The main question is whether or not this new Trailblazer can park at the same lunch table as the original.
Looks of the older model weren’t extraordinary but this makeover had the team in awe. The new one gets dramatic lines and aggressive styling to start. The design is truly striking, taking after the beautiful new Camaro and big brother Blazer. If Americans want SUVs, then this is how manufacturers should be designing them. Take notes (Ford and Jeep). Glancing ahead, the upcoming Bronco and Grand Wagoneer have a precedent already set. Imagine the designers took a picture of a Blazer to photoshop, compressed it and added a flat and taller top. The front gets the same narrow headlight design. The only thing differentiating the front of the vehicle from the Blazer is the width, with this being slightly narrower.
Wrapping around to the side, the Trailblazer gets a much more traditional SUV shape over the Blazer. The top is square rather than sloped to mirror a coupe SUV. This beauty gets a floating roof design with the blacked out roof wrapping from the bottom of the front windshield all the way to the upper rear. The mirror caps are color matched with the roof. All trims get wheels to suit the rest of the car. RS trims get sporty wheels whereas the Active trim gets off road worthy smaller wheels with a thicker sidewall. The rear is just as striking as the front. The tail lights wrap around to the side of the vehicle, similar to Lexus design language. Exhaust tips are molded to a square shape. Overall, the Trailblazer is definitely one of the best, if not the best, looking entry in this segment.
Moving to the inside of the vehicle, the interior is expected to live up to the hype of the exterior. This is perhaps where the new model lacks. Chevy knocked it out of the park with the Blazer so why not carry over the interior design? On the contrary, the Trailblazer gets an interior that looks fairly normal in the segment with bland design. The large round air vents are gone along with the beautiful simplistic climate controls. Let’s not get it twisted, this doesn’t mean the interior doesn’t feel nice. Materials are excellent along with the technology. Soft touch materials are placed everywhere to give a more premium feel. The RS trim gets a very nice flat bottom steering wheel while all others get an equally nice round steering wheel. Premium appointments are prevalent throughout the cabin. Seats are wrapped in a beautiful black design with contrast stitching on RS trims. All other trims get premium looking two tone seats and dashboard. Most interior color choices are dark, but the massive panoramic sunroof lets in enough light to brighten the cabin and make the interior feel bigger than it is. Included in upper trims is a quality Bose sound system that is calibrated perfectly for the small cabin space. It’s something you would expect from a German luxury vehicle in a Chevy. Other great features include wireless charging and ample space for passengers and cargo.
It’s a new era for tech advancements. The name suits the vehicle when it comes to safety. Chevy threw an incredible suite of safety features into this SUV. Standard features are Automatic Emergency Braking, Front Pedestrian Braking, Lane Keep Assist w/ Lane Departure Warning, Forward Collision Alert, Follow Distance Indicator, IntelliBeam Headlamps, Rearview Camera, and Apple CarPlay and Android Auto. An advantage of buying a GM product also includes a few very useful convenience safety features like Teen Driver mode, Rear Seat Reminder and OnStar. The Rear Seat reminder is perhaps the best feature that is still not standard on other brands. Optional safety features include Adaptive Cruise Control, Rear Park Assist, Lane Change Alert w/ Side Blind Zone Alert, Rear Cross Traffic Alert, and an available higher resolution rearview camera.
To this point, the Trailblazer meets expectations of the name in every way other than size. Performance is where the car loses to its predecessor, the Trailblazer SS. The most powerful engine today gets a 1.3 liter turbocharged 4 cylinder. However, this engine produces plenty of power for the size of the vehicle. It cranks out 155 hp / 174 lb. ft. of torque and pushes it to either the front wheels or all wheels. This engine returns 29/33/31 mpg city/hwy/combined, respectively, when paired with either the CVT or available 9 speed automatic on the AWD models. Also available is a 1.2 liter turbocharged engine with 137 hp / 166 lb. ft. of torque. This engine can only be had with the corporate CVT and FWD. The 1.2L is good for 28/31/29 mpg.
Throwing it around The Bronx in New York City was truly a blast. The nimble handling makes this vehicle the best driving in the segment. Aiding the experience is the incredibly low curb weight. Test for yourself and you’ll want to trade in that sedan for a more practical small SUV. Adjust to the quick steering in sport mode to avoid large potholes and imperfections in the road while maintaining a very comfortable ride. Switch the drive mode to normal and experience the relaxing weight free steering. This is definitely a car to shortlist in an area with roads like The Bronx.
Compared to its competition, the youthful Trailblazer deserves to sit up top. Chevy set out to make the SUV version of a Camaro with the Blazer, and with that solid foundation, they manifested a small SUV that carries the DNA of a Camaro at a price of $19,995. Does it live up to the Trailblazer name? Yes, in a way it does. With modern emissions regulations, one can argue that the performance of the new model is better. The 2021 Trailblazer holds its own and competes pound for pound.
If you’re thinking of getting a vehicle, there’s a good chance you have considered buying a new car. You should always take into consideration the disadvantages of buying a new car. It’s a big decision, and you don’t want to rush into it.
Buying a car can be a great experience, and it can make you feel better. A lot of people avoid used vehicles because they have a stigma of being unreliable. That is not the case, with most used cars lasting for years before needing any work done.
Disadvantages of Buying a New Car
One thing that most people don’t think of is the disadvantages of buying a new car. They believe that once you get a new car, it’ll run like perfect forever and won’t have any problems. The reality is that modern vehicles have disadvantages too.
1. The Value Drops the Moment You Drive It
The second you take your new car off the lot, the value of the car drops. Many new vehicles come with rebates and incentives that also immediately lower the value of the car. This means that while the car may cost you $30,000, it won’t be worth that the second you drive it off the lot.
In general, a new car will lose 60 percent of its value after five years. That means if you purchased a new car for $20,000, It wouldn’t even be worth $10,000 after five years. Cars never stop depreciating, but after the five-year mark, the rate of decline slows down.
2. New Cars Are Expensive
Owning a car can be very expensive. One of the disadvantages of buying a new car is the upfront price that you’ll have to pay. There’s more to consider than the cost of the vehicle upfront, but that can be daunting by itself.
New cars cost a lot of money, usually in the tens of thousands of dollars. Add to that the interest cost of a loan and finance charges, and you could end up spending a tremendous chunk of your income on a new vehicle.
3. Insurance Is a Killer
The cost to insure a new car is based upon the value of that car. While the value continually decreases, your insurance does not go down as fast. If you’re carrying a note on the vehicle, you’ll have to pay for full coverage insurance, even if you don’t want or need it.
The average monthly premium for a new vehicle can reach as high as $136. That comes out to over a thousand dollars a year that you’re spending on insurance alone. Insuring an older car can cost less than half that.
4. Model and Year Dependability
Car manufacturers are always adding and changing things on their new line ups every year. This can be a great benefit, but there’s something that most dealerships won’t tell you about. A harsh reality of the car market is that not all years and models are made as well as others.
New lines of vehicles and modified older ones can have reliability problems. While many cars undergo various tests, that doesn’t mean you’ll get one that could pass those tests. With the addition of so much digital technology, the potential problems increase exponentially.
While a used car has reliable data from consumer reporting groups and reviews on dependability and performance, you won’t have the same luxury with a new vehicle. The reviews that come out have been paid for and don’t always reflect the quality of the car you’ll get.
5. The Cost to Tax and Title Your Vehicle
The cost of registering a vehicle varies based on state, but one thing that is true in every state is that the higher the price, the more taxes you have to pay. When you go to renew your tag, it will cost you more money.
Some states even require that you pay tax on a vehicle you didn’t purchase in their state to get it tagged for that state. This means that the phantom costs of a new vehicle can be increased at every step of the car ownership process.
6. New Cars Take A Long Time To Pay Off
Paying off a car loan that is worth $20 or $30 thousand will take you far more time than paying off a loan for a few thousand dollars. Most car loans are made out to be paid back in five to seven years. This means that you could be paying for that new car from the time your kid is in 5th grade until they graduate high school.
Having a lot of debt will also make you less likely to be able to get another loan. If you want to buy a house or do anything that requires a loan, you’re going to have more trouble with a massive car loan out.
Buying A Used Car
A lot of people dream of buying new cars. This has been true for decades, for about as long as cars have been around. For most of us, however, buying used cars tends to be a better investment and cost us a lot less.
Used cars used to have a bad reputation because of dependability, but since the early 2000s, cars are more reliable than ever. That reliability does not magically go away because the car is resold. You can benefit from the same modern reliability from a vehicle that is ten years old or more.
Don’t Be Fooled By The New Car Shine
The disadvantages of buying a new car are many, yet there are some advantages. Don’t be fooled, however, into thinking that you’re going to be coming out ahead. You won’t.
Do your research and purchase a car from a year that is dependable and well maintained. Saddling yourself with almost a decade of debt doesn’t have to be the price of owning a vehicle.
Before you go, please take a moment to browse our website for other articles that might interest you.
Driven by a passion and respect for the original, *the new Defenderdelivers transformational breadth of capability and advanced all-terraintechnologies to redefine adventure for the 21st century*. But it remains true to the pioneering spirit that has been a Land Rover hallmark for 71years.
As of February 2019, the average new car transaction price was $36,590. This is according to Kelley Blue Book, the leading automotive valuation authority in the United States. While that figure is actually lower than it was in January of 2019, when the average price was $36,765, it’s considerably higher than February of 2018 when it was $35,597.
With that said, along with these higher prices have come larger car loans. This doesn’t have to mean they’re unaffordable though. Here’s how to get a lower car payment—even with a larger loan.
Know Your Credit Score
Too many people go shopping for cars without knowing their credit score and the Annual Percentage Rate (APR) on a loan they’re entitled to, based upon that score. The higher your credit ranking, the lower your interest rate should be. The lower your interest rate, the less money you have to pay each month to service the loan. In other words, knowing what your credit history qualifies you to receive is one of the fastest ways to lower a car payment.
Get Pre-Approved for a Loan
Another thing you should do before shopping for a car is get preapproved for a car loan by your bank, credit union or another independent lender. That way, when you get to the dealership, you’re in a better position to negotiate your interest rate, because the seller knows they’ll have to compete with your existing offer.
Increase Your Down Payment
Most lenders like to see at least 20 percent down on a new car purchase. Meeting this figure can earn you a lower interest rate, which in turn will shrink your monthly obligation. What’s more, if you can go higher than 20 percent, you’ll lower your loan amount, which reduces the payment and the interest charges. Yes, you can get a car with less money down, but the more money you borrow, the higher your payment will be.
Longer Loan Term
Perhaps not surprisingly, another byproduct of those higher transaction prices is lengthier loan terms. In many cases people are stretching car loans out to 84 months. This can have the effect of lowering a car payment significantly. Then again, it also makes the car cost more in the long run. The longer the loan term, the more time interest has to accrue, which means the borrower pays more.
Refinance Your Car
Even if you’ve recently bought your car, you might qualify to refinance into one of the low APR car loans like those offered by RoadLoans. Therefore, it always pays to keep an eye on interest rates. What’s more, the newer your loan, the more likely you are to benefit from a refinance. It’s never too early to look into this possibility.
Lease Rather than Buy
Instead of taking on a loan for the full price of the car, you’ll pay only for the amount of its value you use over the term of your lease. This can result in significant monthly savings. If you decide you really like the car and want to keep it, you can buy it outright at the end of the lease term as a used car and keep those lower payments. Be sure to run the numbers on this strategy to ensure it makes good financial sense. But it’s a great way to get a nice used car, the history of which you can be absolutely sure.
The six tactics will help you get a lower car payment. However, be careful which strategy you employ. Some can wind up costing you more in the long run.
Theworld’s newest carbrandconfirmsnew HQinMunichand seniormanagement line up, as well asa€50Mpartnership deal withRimac
Automobili Pininfarina has today made a series ofmajorannouncements from its newheadquarters that will see it strengthen its management team, secure cutting-edge, world-beating electric powertrain technology, and put Formula 1 and Formula E experience in the PF0 hypercar driving seat.
Automobili Pininfarina was announced in Rome in April 2018 as the world’s newest car brand,with an ambition to sustainably develop and produce fully-electric, ultra-luxury cars at the pinnacle of design and desirability.
The company will offer a range of cars designed and hand-crafted by legendary Italian automotive styling house Pininfarina SpA. The first, an ultra-exclusive, luxury electric hypercar codenamed PF0, will be launched at the Geneva Motor Show in 2019, with production beginning in 2020.
Munich has been confirmed as the company’s corporate and operational headquarters, providing access to expertise and engineering networks in arguably the world’s most successful and technologically advanced car market. Munich’sproximity to northern Italy, the home of PininfarinaSpA– who will design and build the PF0 under contract – wasalsokey to CEO MichaelPerschke’sselection of it for the global headquarters.
Ata press conference today,CEOMichaelPerschkeand special guestDr.PawanGoenka, Mahindra &MahindraManaging Director, also introduced an impressive line upof partners and collaborators –includinga unique technical partnership withRimacAutomobili to provide battery and drivetrain expertise, software,and hardware, in a contract worth up to €50m.
As well as the partnership withRimac,AutomobiliPininfarinaalso announced NickHeidfeldas their new Development Driver.With nearly 20 years of top-level motor racing experience to call upon, Nick will be responsible for honing the PF0 vehicle dynamics programme from the beginning of 2019, with a clear personal ambition: to help develop the most enjoyable electric performance car in the world.
Perschkesaid:“Today marks a significant step for the launch of a range of Pininfarina-branded cars and for PF0, which will be the most powerful Italian-built sports car in history – and the first luxury hypercar to be conceived in Germany. We have developed a sophisticated brief to deliver a ground-breaking all-electric hyper GT car to clients from 2020, and now we are curating the partners and suppliers to deliver this dream. The results will be electrifying for owners of Automobili Pininfarina cars in the future!”
As of late, we had the opportunity to test drive a pre-production QX50 during a three-day press launch at West Hollywood’s newest boutique property, La Peer Hotel.
The days are slowly fading, at least in the automotive industry, where bigger isn’t always better. The biggest engines, the most valves and absurd fuel consumption aren’t necessarily needed to create fast responsive engines. For Earth’s sake, this is a very economical and environmentally friendly path to take. Less fuel consumption while improving power output is the wave of the future and Infiniti is one of many leading the way. The newly redesigned 2019 Infiniti QX50 stocks a VC-Turbo Engine with all-new DriverAssist technology and lightweight skeleton.
Let’s start with the heart of the vehicle -the engine. What’s important to note is how much more economical the VC-Turbo Engine is in comparison to the 2017 QX50 and its stiffest competitor, the Lexus RX. The newly designed engine is a 2.0 liter turbocharged 4-cylinder which produces an impressive 268 horsepower @ 5,600 rpm while creating an astonishing 280 lb-ft of torque @ 1,600 rpm. This means quicker acceleration and consistent pull through the entire power band. The QX50 is able to stretch a gallon of fuel up to 27 mpg city/hwy which is a 35% increase in fuel economy from the previous model, making it the most economical vehicle in its class. The Lexus RX comes in 4 mpg less while also lacking in the torque department. Infiniti for the win!
Complementing fuel efficiency is its all-new lightweight platform. The frame only weighs 923.7lbs and the weight-to-size ratio is the best in class. Designed from high tensile material it enables the car to resist flex, vibration and reduces noise pollution inside the cabin for a more luxurious ride. Now fitted with McPherson suspension, commonly used on BMW, the QX50 is ready for spirited driving. Furthermore with the increased structural integrity, the suspension appears to be more responsive, providing the driver with greater control and cornering.
When it comes to safety, there’s one thing which comes in mind – how well does it stop? Infiniti added a new braking system designed for control under most conditions. The vehicle is fitted with ventilated front brakes which are larger than the previous model, measuring in at 13 inch in diameter. Moreover, a new brake booster and tie rod system has been added to reduce the need for higher brake pedal pressure. Depending on customer preference, there are two wheel/tire and two drivetrain options available. The tires come in 19 inch wheels with 235/55R19 tires or 20 inch wheels with 255/45R20 tires – both available in run flats and reinforced rubber sidewalls to allow up to 93 miles with reduced air pressure. For the drivetrain, one can choose between the intelligent AWD or the standard FWD. Better grip, braking and handling attributes can be expected with the AWD upgrade.
The exterior stays true to Infiniti’s “Powerful Elegance” language. Several features set this model apart from its predecessors. It’s overall sculpture is influenced by aerodynamic efficiency which adds to the muscular yet sleek design of the crossover. Every curve (mostly on the hood) and shape of the QX50 is fully functional, improving its drag coefficient by 6%. The front fascia boasts its usual distinct double arched grille. Furthermore, it is equipped with the signature LED headlight design that gives an appearance of an intense stare-down. Slightly sitting higher with larger wheels, you are reminded, ‘its more than just a good look but a sporty companion.’
Ergonomics are apparent inside the cabin. Upfront are two zero-gravity NASA seats alongside of a passenger-minded asymmetrical architecture, allowing both driver and passenger to feel connected and co-operative. On the dash board sits the InTouch infotainment center featured on dual screens for ease and convenience. It allows passengers to stream media from handheld devices via Bluetooth – including music ,texts and photos (Apple CarPlay and Android Auto are not yet available). The Bose Performance Series audio system is designed specifically for the QX50’s underpinnings to produce optimal sound quality. It’s loaded with 17-speakers and delivers an unmatched audible experience. Above head is panoramic moon/sunroof which stretches from the front to back seats complete with a motorized blackout curtain. It enhances the roominess, especially for backseat passengers who wish to stargaze. Also in the rear is a sliding rear bench which alters both legroom and cargo room for whichever is needed most. The quilted seat packages offer a bespoke feel coupled with ultra suede middle console, pillars and headliner. Moreover, manually retractable rear window nets offer additional privacy as well as sun protection when paired with factory tint.
Driver connectivity is further enhanced with ProPilot – a feature which allows single lane driving assistance. This helps with driver fatique during bumper-to-bumper traffic and long drives. As the name implies, this patented technology assists the driver in identifying road hazards as well as other drivers which could potentially cause accidents. Moreover, ProPILOT also helps manage acceleration, braking and steering in single lane travel. For whatever reason, when activated it makes both the steering and brakes feel firm and tenacious. We tested it on the whiny roads of Muholland Drive; and it practically drove itself even while descending (activation normally lasts upto 20 secs or until it falls back in between the 2 lines). In addition, the newly introduced heads-up display in lower windshield allows the driver to fixate more on the road and less on the navigation. Also works well with polarized eyewear and shades.
In short, the 2019 Infiniti QX50 AWD fully loaded model prices just under $60,000 which isn’t quite so bad considering the brains of this bodacious beauty. Not to mention, the overall performance is extremely desirable and nimble at times. This is an amazing buy for a millennial executive with room for a modern family or empty nesters with a few adult children in tow.