Category Archives: Used Cars

driving new vehicle

How Often Should You Buy a New Car?

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When you own a vehicle, it can be difficult to know when it’s time for a replacement. Some people make the mistake of assuming they need to replace their car every few years, but the average age of a vehicle on the road is 11-12 years. Standard cars today are expected to keep running up to 200,000 miles, so this gives you an idea of how much time your vehicle has left. 

Maintaining your vehicle will also keep your car in good condition, prolonging its lifespan. Even if you don’t plan on keeping your car for very long, having it maintained is still important. Buyers and dealers prefer vehicles that have received regular maintenance and will pay more for them. Car maintenance should include oil changes, exhaust system checks, brake upkeep and tire rotation and replacement. 

Is it Time to Buy a New Car? There is No One Right Answer

Not sure if it’s time to buy a new car? There are two schools of thought here. On one hand, getting new cars every few years allows you to take advantage of the latest technology and safety features, while also having something new to drive. Plus, you can save time and money on repairs and maintenance

On the other hand, buying a car is an investment, and you might like the feeling of owning your car once the loan is paid off. You don’t have to worry about paying off a balance on your vehicle, and you can even decrease your car insurance payments. Car depreciation also tends to bottom out at ten years. 

Signs It’s Time to Buy a New Vehicle 

No matter how long you’ve had your car for and how well you’ve maintained it, no vehicle lasts forever. Your car must provide you with safety and reliability, so if you’re not getting this from a 7-year-old vehicle, it’s probably time for something new. Here are the ways to tell that you need a new car

It’s always breaking down

Whether your car fails to turn on or your brakes don’t want to work, these are signs that your car isn’t worth keeping anymore. You shouldn’t have to say a prayer every time you enter the vehicle. If you’re not ready to buy something new, find out what the problems are and how much they’re going to cost. If the cost of repairs is less than half of what a new vehicle would cost, they could be worth paying for. 

It has no tech or advanced safety features 

A number of safety features have been added to vehicles over the years, such as backup cameras and emergency braking. If your car doesn’t have any of these features, it’s time for something new. Even a new-to-you car will have new features that will keep you safe on the road and make it more desirable to drive. 

Your odometer is showing crazy miles

On average, cars last for 200,000 miles or 12 years depending on how much you drive, your maintenance and other factors. Once you reach this many miles, it’s probably time for something new and more reliable. While some well-maintained cars can last for 300,000 miles, it’s important not to push things. 

If you’re in the market for a new vehicle, search on RepoFinder today. We have a large database that includes the banks and credit unions selling repossessed cars, trucks, SUVs and recreational vehicles. They’re being sold at incredible prices, and many are in great condition with low mileage. It’s an easy way to save money while getting something new. 

used car warranty

Do Used Cars Come with Warranties?

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When shopping for used cars, you might think that you have to forgo some type of warranty or protection for your purchase. But this isn’t necessarily true. Most used cars from a dealership come with a limited 30-day factory warranty, or you may have the option to purchase a used car warranty. You may even get a warranty if you buy your new-to-you car from a private seller! 

Let’s learn more about used car warranties, what they cover and how to know what your used car purchase will come with. 

Transferring a Warranty 

New cars typically come with manufacturer warranties that cover repair and replacement costs due to factory errors. They typically last for three years/36,000 miles and five years/60,000 miles, though powertrain warranties can last even longer. Your factory warranty length depends on the manufacturer, but you’ll likely have options to extend it. 

When a car sells before the warranty is up, there is an option to transfer the car warranty to the new owner. In other words, the warranty doesn’t just go away because someone new is driving the vehicle. To initiate the transfer, the current owner of the vehicle will have to contact the warranty company or dealership.

If you’re buying a used car from a private seller, be sure to ask them if the manufacturer warranty is still active. If it is, you can likely get this warranty transferred over to you, giving you more protection and peace of mind. 

Getting a Used Car Warranty 

If the vehicle you’re looking to purchase no longer has an active warranty, you do have another option. You can purchase an extended warranty. Extended warranties and vehicle service contracts are add-on products that provide warranty coverage that lasts longer than the original warranty. 

You have choices as to which warranty to buy depending on your budget and what you want covered. Some used car warranties are comprehensive and offer bumper-to-bumper coverage while others only cover specific vehicle systems. These types of warranties are backed by independent providers or automakers. 

Are Car Warranties Worth It? 

When you purchase a new car, you automatically get a warranty, so there’s no reason to question whether or not it’s worth it. But when you have to take out an extended warranty, you’ll have to ask yourself if this type of protection is worth paying for. 

When it comes to the long-term costs of your car, experts often say that extended warranties are a bad deal. Most people never touch them, and even if they do experience problems, it’s often cheaper to pay the repairs out of pocket. 

That being said, if you have the extra money to spend and you’re concerned about the condition of the vehicle, an extended warranty may be beneficial for you. It will make the repair process much easier, plus provide you with greater flexibility and peace of mind. 

Shop for Repossessed Cars Today 

Shop for new-to-you cars at RepoFinder! We have a free list of repossessed vehicles from lenders and credit unions all over the country! There are no commissions or fees, and most lenders are willing to negotiate to make the deal as attractive as possible. 

car salesman

5 Sneaky Car Dealership Tricks to Be Aware Of

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Even though most car dealers work hard to build long-lasting relationships with their customers, some are still pushy and live up to the stereotypes shown in TV and movies. It’s understandable why car salespeople have to be pushy at times – they’re working off commission. But that doesn’t mean that you have to fall for any of these traps – it’s your money after all! 

Below are some of the most common car dealership tricks to be aware of. If you notice someone trying to pull these tactics on you, you’ll probably want to shop elsewhere. Cars are an investment, and you deserve to make a decision that you’re fully comfortable with. 

1. Bait-and-Switch Trap 

The bait-and-switch trap is one of the oldest in the books. The dealer promotes a great price on a vehicle and features it in an ad to bring in more traffic. When you arrive, however, you’re notified that the vehicle is no longer available. Instead, there’s a different car waiting for you – and it’s priced higher. 

2. Fine Print Details 

Always, always read the fine print. Car ads come with small print that the dealers hope you miss – and many people do. That’s because hidden within the print are disclaimers, stipulations and conditions that will make it nearly impossible for you to get the price that’s featured in the ad. For example, the dealer may require you to have near-perfect credit to get a particular financing offer. 

3. Monthly Payments 

Another common tactic is for a car salesperson to ask you how much you want to spend each month. This question seems innocent enough – your budget makes a difference after all. However, if you say your budget is $400 a month, the dealer can sell you any car and string the payments into a longer loan. 

4. Payment Method 

Car dealers may also ask how you will be paying for the car. Keep quiet, as how you pay makes a difference. For example, if you’re paying with cash or third-party financing, the dealership is likely to bump up the price since they won’t be making money off your loan. If you choose to use their financing department, you can expect to pay more. 

5. Marking Up Interest Rate 

Dealers may also offer sweet deals on the front end and then make up for them by increasing interest rates. They’re able to do this because dealers partner with different financing companies that offer indirect loans. In exchange for the loan, many of the partner banks let dealers mark up the interest rate and keep the difference. So, if a lender approves you for a loan with 6% interest, they might tell you the interest rate is 8% and then keep the 2%. 

When you need a car, your options of where to shop may be limited. If you do choose a dealer, make sure that you don’t fall for any of these sneaky dealership tricks. You can also shop with RepoFinder – we have a huge database of repossessed vehicles for sale. Take your time reading through each listing, ask questions and make an offer. No pushy salespeople involved! 

 

saving for car

What are the Fastest Ways to Save for a Car?

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If you’re in the market for a new car, SUV or pickup truck, you’re probably aware that you need to gear up for high prices, sparse inventory and few incentives. It may not be the best time to shop for a new vehicle, but you might not be able to wait any longer. 

Fortunately, things are getting better, and car prices are no longer increasing. But you can still expect to pay significantly more for a car today than a year or two ago. Below are some tips from the experts on how to save for a car – and fast! 

Pick the Car You Want First 

Decide on the vehicle you want to buy before you start saving. You may have a few different models picked out, and that’s okay. By having some vehicles in mind, you can look up their prices and know how much you have to save. Don’t forget to add in extra for fees, sales tax and insurance payments. 

Decide How You’re Going to Pay for the Car 

Once you have a car in mind, you can decide how you’re going to pay for it. Creating a timeline can be helpful, as you’ll be able to find a balance between the monthly payments you can afford and a down payment you can save for. There are a number of free online payment calculators you can use to crunch these numbers. 

Set Up a Separate Savings Account

As you begin to save for your new car, keep your “car cash” separate. You don’t want to end up using your savings for other things like groceries, gas or a night out. Having a separate account allows you to see how much you have saved for your car and where you are in relation to your goal. To make things even easier, set up automatic transfers from your checking account. 

Not sure how much you should be putting away each month? Anything helps, but experts recommend pretending like you already have the car payment. What you would be paying in a car payment can go directly into the savings account.

Sell Your Car Right Now 

Normally, you would trade in your old car when you buy a new car. But these are different times, so it might be worth it to trade in your old car right now. In the meantime, you can drive a different car you own, car pool with neighbors or use public transportation. The purpose of this is to get the best price for your trade-in right now.

Save Money. Shop with RepoFinder. 

When you’re ready to buy your new car, be sure to consider all of your options. RepoFinder has a huge inventory of repossessed vehicles, and they are available to the general public. You do not need a dealer’s license. You can take advantage of low prices, an expansive inventory and quick sales. Check out our used vehicles today!

as-is car

Buying a Used Car: What Does As-Is Mean?

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If you’re thinking about buying a used car, you’re likely to come across the term “as-is.” Not all used vehicles are sold as-is, but some are, so it’s important to know what this means and what you can expect as the buyer. Shopping smart gives you the best chances of making a purchase that you’ll be happy with. 

What Does As-Is Mean When Car Shopping? 

Usually when you come across the term “as-is” in a vehicle listing, it means that the vehicle is being sold in its exact condition. If there are any flaws or defects with the vehicle, they will be your responsibility and will not be covered by a warranty. In fact, as-is typically means that there is no warranty coverage through the manufacturer or the dealer. 

That being said, it is possible to buy a car as-is and still have a manufacturer warranty. For example, when you purchase a repossessed car, it will be sold as is. You will be responsible for any repairs or maintenance that the vehicle needs. However, if the vehicle has a manufacturer warranty intact, you can use that to cover certain repairs or recalls. 

Generally speaking, when you see a car being sold as-is, it means it has no warranty and will be sold in its exact condition. You will be responsible for anything else the car needs, so be sure to budget for this. In exchange for this, you will receive a sizable discount on your purchase.  

Should You Buy an As-Is Vehicle? 

Only you can make the decision as to which type of car purchase is right for you. Some people are more comfortable buying or leasing new, while others don’t mind a little elbow grease for a cheaper car (and cheaper insurance). But there are plenty of benefits to buying as-is. 

For instance, you can save money, which is great if you’re on a budget. Repossessed cars are popular among high school and college students, as well as those just starting out. You’ll also have a wider selection of vehicles, allowing you to get some of the features that you wouldn’t be able to afford in a new car. 

But, you also need to have realistic expectations. An as-is car may need more work, so you’ll need to set aside some budget for these expenses

Tips for Shopping for an As-Is Vehicle 

When shopping for an as-is vehicle, there are a few things you’ll want to do to ensure a solid purchase: 

  • Do your research. Research the car you’re interested in buying so that you can be aware of any known problems. 
  • Order a vehicle history report. Find out if the car was involved in any accidents.
  • Get a pre-purchase inspection. Have the car inspected by a mechanic or someone knowledgeable in cars. 
  • Consider a warranty. Look into warranty options through third-party companies like CarShield. They can help pay for major repairs. 

RepoFinder has a vast database of vehicles being sold as-is. We provide as much information as possible so that people can save money and get a great vehicle!

inflation and car prices

Used Car Prices are Finally Falling – What Does this Mean for Inflation?

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According to the latest inflation report, used-car prices fell for the third month in a row. Could this be a sign that inflation has peaked? In January 2022, used-car prices hit a record high. But now that prices are slowly decreasing, some experts believe that the consumer price index (CPI) will as well. 

Why is this the case? Because the decline in used-car prices shows that the supply chain issues responsible for inflation are starting to ease up. While supply chains aren’t where they were before the pandemic, they are starting to improve. If this is the case, the prices for other products could start falling, too. 

How Does Inflation Impact Car Prices? 

Inflation refers to the decreasing purchasing power of money, which also determines the increase of prices for goods and services. If your dollar loses power, prices for the things you buy are likely to increase. However, recent data shows that the opposite is happening right now. 

MarketWatch reports that in April and June, the increase in used-car prices accounts for one-third of the overall increase in the cost of living. Normally, used cars don’t have that much power over inflation, but the shortage of new cars has changed this. To monitor inflation, the Manheim Used Vehicle Index has become an accurate source. 

The spike in used-vehicle prices has played a role in inflation, but used-car prices don’t typically have this much influence. However, even now, used-car prices are still up 32 percent from pre-pandemic levels. 

Is Now a Good Time to Buy a Used Car? 

If you’re in the market for a new vehicle, the inflated car prices can have a negative impact on your cost of living. Not to mention, you’ll probably be left with limited choices.

That being said, if you need a car, you need a car. If you have a car to trade in, you’re in a better spot. Dealerships need the inventory, as do rental car companies, so you can probably get more than you would have a year or two ago. You can then use this money to put toward a down payment. 

Save Money and Shop for Repossessed Vehicles

Cars aren’t a luxury for everyone. Most of us need our vehicles to get us to and from work, school and other important places. Therefore, if you need a new car, you might not be able to wait. Fortunately, a little out-of-box thinking can introduce new opportunities.

RepoFinder.com offers a huge database of repossessed cars, trucks, SUVs, etc. that are open to the general public. You do not need a dealer’s license. You can purchase a car for a fraction of the price – and you can pick it up almost immediately. Shop with us today and see what cars you can find for an affordable cost. Yes, cheap used cars still exist! 

driving car in as-is condition

What to Look for When Buying a Car As-Is

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Buying a car “as-is” means that you’re buying the car in the exact condition that it’s in. It probably doesn’t have a warranty, either. If anything turns up wrong with the car, it will be your responsibility to fix it. In exchange for taking on these unknowns, you can get a decent discount on your vehicle. The money that you save on the initial cost can then be used to fix up the car, should it need repairs. 

Even though you’ll be saving money on an as-is vehicle, it’s still important to do your research and know what you are buying. Here are some tips on what to look for when buying a car as-is

Research the Car 

When you find a car (or cars) that fits your criteria, the next step is to research it. You can find this information online – just be sure that you’re choosing reliable, unbiased information. This research will help you understand the car you are buying and any known problems. This way, you can plan for potential repairs.

Get a Vehicle History Report 

Obtain a vehicle history report to avoid surprises. The two largest and best known providers of paid VIN reports are Carfax and AutoCheck. These reports include basic information, as well as recalls, thefts and crashes. With this information, you can find out if the car you’re buying has been in any serious accidents. 

Test Drive the Vehicle 

Ideally, you should have the opportunity to test drive the vehicle. But it’s possible that you won’t be able to do this if the car is out of state. Also, repossessed cars can’t always be test driven because of liability issues. If you can’t test drive the car for some reason, at least take the opportunity to perform an inspection. You can tell a lot by seeing the vehicle in person. 

Have the Car Inspected 

If you don’t know a lot about cars, ask a mechanic or someone knowledgeable to inspect it on your behalf. A mechanic can evaluate the vehicle’s current condition, point out issues that you may need to address and make sure that you are paying a fair price. If the seller doesn’t want you to have an inspection, choose another car (or seller). 

Shop with Reputable Sellers 

Always shop for as-is vehicles through reputable sellers like RepoFinder. Even though you’ll be buying the car as-is, and probably without a warranty, a reliable seller will be willing to work with you. They’ll answer your questions and be open to having you test drive the vehicle and bring in a third-party to look at it. This shows that they have nothing to hide. 

RepoFinder offers a free list of bank-owned vehicles that are ready to buy. They are open to the general public, and you can easily review the information and place a bid. To shop for repossessed cars in your area, check out our inventory today! 

electric vehicles

5 Things to Know About Electric Vehicles

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Are you thinking about buying an electric vehicle (EV)? Even though EVs account for a very small percentage of car sales, the market is slowly growing. Consider that global EV sales rose 40 percent between 2019 and 2020, due to the growing number of affordable electric cars and rising fuel costs. 

If you’re considering switching over to an electric car, here are five important things to know. 

1. Electric cars are more cost-effective in the long run. 

Even though there are more affordable models of EVs, they still tend to cost more than petrol and diesel cars. This is mostly because of their batteries, yet in recent years, these prices have fallen significantly. 

You should also consider your long term costs, and in this case, EVs come out on top. You can eliminate fuel costs and maintenance services. Plus, you can get money back from the incentives and tax breaks that are still available.  

2. There are more models of EVs rolling out each year. 

Over the next few years, there are tons of EVs rolling out. Some have been officially unveiled with specific launch dates, while others are still in the works. Many legacy automakers have announced that they’re adding an electric-only lineup, while startup EV makers are also becoming more common. 

Even Apple and Sony are considering making their own electric cars! Some of the EVs we’re looking forward to seeing are the 2023 BMW i7, the 2024 Buick Electra and the 2025 Chrysler Airflow. 

3. The U.S. is still offering incentives for EVs. 

Some states have better incentives than others. For example, California offers the most support for EV buyers. Residents can qualify for up to $7,000 in state incentives through their Clean Vehicle Rebate Project. On the other hand, Alaska, Alabama and West Virginia offer little support to EV buyers. 

There is also a federal tax credit worth up to $7,500 for certain alternative-energy cars. However, it only applies to new car sales – not leased vehicles – and some electric cars are no longer eligible. Still, it’s worth looking into! 

4. EVs mean no more gas stops! 

Average fuel costs right now are over $5.00 per gallon. It’s certainly not cheap to drive, but with an electric car, you can save on fuel costs and eliminate inconvenient trips to the gas station. Instead, the ‘fuel’ comes to you. 

Most charging happens at home or work using a Level 2 charging station. Also, consider that up to 80 percent of a battery’s energy powers an electric car. In comparison, gas vehicles use most of the energy that they produce. 

5. Chances are low that you’ll actually run out of battery.

About 57 percent of consumers avoid EVs because they’re worried about running out of power (something called range anxiety), but in reality, it’s only happened to about 5 percent of drivers. 

Drivers get plenty of warning that their battery is low. It won’t just suddenly die out. In fact, some of the latest models have navigation systems that show you the closest places to charge your battery. Also, the range increases with new vehicles, which means there’s hardly any new EVs on the market that have less than a 250-mile range. 

Electric vehicles are not just the future, they are a popular trend today, especially with the increase in gas prices. To shop for used EVs, visit RepoFinder today! We’re always getting in new vehicles, including some electric cars. 

affordable red car

Best Affordable Used Cars You Can Buy Today

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Looking for a new car that’s affordable, too? While this isn’t the best time to be shopping for new and used vehicles, you might not have a choice. You depend on your car to get you to and from places, and you need something reliable. 

Fortunately, there are some budget-friendly cars that you can look into. These cars offer a great value for the money. To save even more, look for these models on RepoFinder.com. We have a huge database of used vehicles that is updated regularly! 

In the meantime, here are the best economical cars on the market today!

Hyundai Elantra 

The Hyundai Elantra is a great compact car that’s comfortable and enjoyable to drive. It’s also hip and stylish, and includes plenty of tech-savvy upgrades. A well-maintained Elantra should last over 150,000 miles, and may even get to 250,000 miles without any major repairs. For the average driver, that’s a lifespan of 10-15 years. The average price for used Hyundai Elantras are between $15,000 and $20,000. 

Toyota Camry 

The Toyota Camry is another great car that provides a smooth, enjoyable ride. Not to mention, Toyota earns the top spot as the best automaker for dependability. The Camry, in particular, is known as a reliable, affordable vehicle that accommodates families of all sizes. It looks compact, but it’s rather spacious on the inside. Average prices for a used Camry are under $30,000. 

Dodge Charger 

The Dodge Charger is a large and comfortable sedan. It has a powerful engine, roomy and comfortable seating and a spacious trunk. It’s a great pick for families that prefer a car over an SUV or truck. But, as you may know, the Charger is a muscle car that has a lot of speed, so it’s typically not the best choice for a new driver. While there are some more expensive models, you can get an older Charger for under $30,000 – and some even under $20,000!

Honda Accord 

The Honda Accord is a midsize sedan that’s rated one of the most reliable of its kind. In fact, some people prefer the Accord over the Camry because it has higher torque and more passenger and cargo space. It has been one of the best-selling family-sized vehicles for over 15 years. You can usually pick up a used Accord for $20,000 to $27,000. And keep in mind, you’re getting plenty of luxury features included in this price! 

Subaru Outback 

Subaru has made a few adjustments to the Outback, making it a smart alternative to an SUV. While smaller than a typical SUV, this crossover can haul large items and has convenient features like blind spot monitoring and driver assistance systems. It also has a price that’s more in line with sedans instead of SUVs, with used models starting around $18,000.  

These are some of the best affordable cars you can buy today. They have high safety ratings, the latest technology and comfortable interiors that the whole family will enjoy. To shop for affordable vehicles, visit RepoFinder today. 

selling car for cash

Four Benefits of Selling Your Car to a Private Buyer

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Are you thinking about selling your vehicle to a private buyer? While there will be more work on your end, it could be worth it. For example, did you know that you could take home an extra $1,000 to $2,000 – even if the car isn’t worth very much? By selling your car on your own, you can get retail price. Meanwhile, if you sell to a dealer, you’ll only get wholesale value, which is usually 10 to 20 percent less. 

Below are four benefits of selling your car for cash. And once you have the cash in hand, make sure to start your search for a new vehicle at RepoFinder. We have a huge database of bank-owned vehicles ready for new owners. With our low prices, you can use the cash to cover the down payment  – or perhaps the full price of the car! 

1. Higher Payout

To get the most from your car sale, we recommend paying for detailing and other maintenance your vehicle needs. The money you get from the sale will offset this cost. Dealerships are businesses and need to make money, so they buy used vehicles at wholesale value. In a private sale, you can set your own price

2. Quick Sale

While it’s true that you can walk into a dealership and trade in your vehicle in a single day, selling your car privately doesn’t take long either. And, you don’t have to sit in a dealership all day! With online advertising, you can target qualified prospects who are actually interested in buying your car. 

3. Great for Specialty Cars

If you have a classic or specialty car, you can also benefit by selling your vehicle privately. These types of cars have niche buyers. You can use the internet to market your vehicle to the right buyers and potentially drive up the price. A dealership, on the other hand, will likely offer you less because the car won’t appeal to most of their buyers. 

4. Control Over Negotiations 

Most car sales involve negotiations, but when you’re selling your car privately, you’re in control. Of course, it’s important to be flexible in terms of price, but you also don’t have to accept low-ball offers. If you know the buyer is interested, you can both agree on a fair price. You have more say over the process than if you were to sell to a dealer. 

In Conclusion 

These are four benefits of selling your vehicle to a private buyer. The main drawback is the lack of convenience. Rather than having the dealership handle all the paperwork, you’ll be responsible for it. And, you may have to deal with no-show buyers. The good news is that once you have the cash from your sale, you can use that money to buy a new car. Shop with RepoFinder today and find a bank-owned vehicle that suits your needs and budget!