Buying A Car On A Low Budget: The Best Tips
If you're looking for a new car and you don't have a lot of money to spend, you should consider picking up a car someone wants to scrap because it needs new parts. If someone has a bad motor or transmission, they may want to pitch the car instead of repair it. Cars like this are a cheap option. You may not be able to drive the car right away, but at least you'll own the car when it's fixed and ready to drive.
There are many benefits to buying an older car and putting some money into it. Do the following, and you may be able to get a great car without having to take out a loan.
Set a Budget
How much cash do you have to purchase a car? Buying the car with cash and then waiting until you have enough money to buy the parts to fix it may take longer than buying a car you can drive now, but you won't owe anything on it. Figure out how much you can spend on the purchase and the repairs. This way when you look at the car and you find out what's wrong with it, you can call around and get estimates.
If you find out a car needs a new radiator and you call around to get prices, you can see how long it will be until you have the money to get the car running again.
Search the Classifieds
Start looking at online classified sites and the classified ads in the paper to find a used car someone is getting rid of. Not only can you look at online sites where people buy, trade and sell cars and parts, but you can also go to a junk yard to see if they have anything worth fixing.
Find Used Auto Parts
When you start to get costs for repairs from mechanical shops, call around and get prices for used parts from places like Apartsmart. If you have a car in decent condition and all it needs is a transmission, you may get a used transmission that is hundreds of dollars cheaper than a brand new one.
You don't have to be a mechanic to find a used car and used parts to get a good deal. You may be able to increase the value of the car substantially by fixing it, making it worth the investment. Start shopping around online and in your area, and looking for cars that aren't running for sale.