Tag Archives: online car shopping

driving on road

Future Trends for the Automotive Industry

Curious to know what the future holds for the automotive industry? There are several trends that will impact the future of automobiles, including how they are powered, driven and shopped for. Let’s dive into the biggest trends for the automotive industry so that you know what to expect in 2023 and beyond. 

Increased Production of Electric Cars 

Even though most cars on the road are gas-powered, electric cars are growing. In 2020, 3 million electric cars were sold, representing 4.1 percent of total car sales. In 2021, electric car sales more than doubled to 6.6 million, representing close to 9 percent of the global car market. 

We expect to see this trend continue as electric vehicles become more desirable. Even though they are more expensive on the front end, EV drivers tend to spend about 60 percent less each year compared to other drivers. Plus, many states offer incentives for purchasing an electric car. 

Increased Sale of Pre-Owned Vehicles 

Between 2019 and 2025, experts predict a 9 percent growth rate in used car sales. The demand for automobiles is rising, particularly for vehicles that are 4 years old or newer. These vehicles are in demand because they cost less than new vehicles but still have the latest technology and safety features. 

Rise in Online Car Shopping 

No longer do car shoppers have to spend all day at the dealership. Automakers in North America and Europe are giving consumers the option to purchase the vehicles they want online. This allows consumers to shop at their convenience and explore the features they want without any pressure. 

Even sites like RepoFinder.com are making it easier to shop for used and repossessed vehicles online. With an extensive database, you can find the banks and lenders with repo cars for sale in your area. It’s a low-pressure way to shop, and you can bid directly online! 

Autonomous Self-Driving Vehicles 

Not only are electric cars growing in popularity, but also so are self-driving vehicles. The appeal to these vehicles is that they have the potential to reduce crashes, prevent injuries and save lives. However, many people don’t feel safe in these vehicles and prefer to drive themselves. 

Currently, there are about 1,400 self-driving cars on the road in the U.S. One report predicts that 33 million AVs will be on the road by 2040. However, there still needs to be more testing to ensure their safety. But AVs could be a good option for businesses who plan to have a fully autonomous fleet. 

These are some of the biggest trends for the automotive industry that we can look forward to. With more ways to shop and a diverse, innovative selection of vehicles, consumers can look forward to more options in the future. 

used car shopping

RepoFinder: Say Goodbye to Commission-Based Sales Teams

When you go to purchase a car from a dealership, a car salesperson will likely help you along the way. They’ll point out the vehicles that fit your needs, take you for a test drive and work with the financing team to make your payments affordable. While car salespeople can be helpful, they can also be pushy. Very pushy. 

There’s a reason why car salespeople are the way they are – they’re under pressure to maximize their profits and sell the most vehicles possible. The more you pay for the vehicle, the more commission they get, which is why they will also try to upsell you on extended warranties and other features. 

Due to this high-pressure environment, some people prefer to shop for cars online. They don’t have to deal with the same pressure, and they can take their time researching the different makes and models. However, when they find a car they like, they often have to go to the dealership to buy it. 

So what if you want to say goodbye to working with commission-based sales teams and shop for cars on your own? RepoFinder is a great alternative. 

What is RepoFinder? 

RepoFinder provides a simple directory of links to banks and credit unions that sell repossessions. These are true repossessions – cars that have been taken from their previous owners for nonpayment. Other places may claim to sell repos, but they often take them, fix them up and sell them for a profit. Not RepoFinder. 

When you buy from us, there are absolutely no fees or commissions. You are buying a car from a bank or credit union that is just looking to recoup some of their losses. They are not trying to get the most money from the sale – they simply want the car sold at a fair price. You can ask questions and make an offer all on our site. 

Tips for Buying a Repo on RepoFinder 

To make the process as smooth and seamless as possible, here are some tips when buying a repo car on RepoFinder: 

  • Take your time and do your research. We have repos in all 50 states, and we update our inventory regularly. Take your time looking through our vehicles and reading the information that is available, such as make, model, condition and features.  
  • Make a competitive bid. Know how to make a competitive offer. Some bids are open and some are closed, so you may not know what other people are offering. And don’t be afraid to offer less – everything is priced to sell. 
  • Inspect the vehicle. Even though you’re shopping online, you should still do your due diligence. Most lenders will allow you to inspect the vehicle before signing anything. 
  • Secure your financing. You can get financing on your own, or you can work with the lender to obtain financing. This could work in your favor, as the lender may be willing to negotiate a lower price. 

If you’re hoping to shop for used vehicles in a commission-free environment, visit RepoFinder today

affordable red car

Best Affordable Used Cars You Can Buy Today

This entry was posted in Used Cars and tagged , , on by .

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. 

save money used car

How to Save Up to 40 Percent on a Used Car

With new cars topping $47,000, it’s understandable why you’re shopping for used vehicles at discount rates. But even used cars are expensive these days! A used sedan might only cost around $20,000 to $25,000, but a used SUV or pickup truck costs an average of $37,000! 

If these prices are still out of your budget, rest assured that there are additional ways to save money on a used vehicle.

Consider Repossessed Cars 

The first piece of advice is to open your search to repossessed vehicles. Repo vehicles are cars that have been taken from their owners because they couldn’t afford to make the payments. They are now in possession of the lender (i.e., bank or credit union) and ready to be sold.

Banks and credit unions are highly motivated sellers because they don’t have the space or capacity to store and sell cars. Browse RepoFinder’s database – it has hundreds of repo cars, trucks, sedans, etc. that you can place a bid on today! On average, repo cars are between 25 and 40 percent cheaper than new cars. 

Shop for Vehicles Online 

Another way to save money is by shopping online. You can see what’s available at local dealerships, saving time and hassle from driving from one dealership to the next. You can also expand your search by looking at cars in other locations, such as the next closest state or city. 

The nice thing about shopping online is that you can take your time and make a good decision without pressure from a car salesperson. This could end up saving you hundreds or thousands of dollars, as it’s easier to spend more when you’re in a high-pressure environment. 

Get the Right Financing 

When you buy a car through a dealer, you’re more likely to use their financing department. While there is nothing wrong with this – it’s quick and convenient – you probably aren’t getting the best deal. 

When you shop for cars on your own, you have the option to check interest rates through multiple lenders. You can then get a pre-approval from the lender with the best rates. Most lenders allow you to complete the application process online, so there’s not much you have to do but fill out some paperwork. 

Keep Your Loan Short 

Even though your payments will be smaller if you stretch out your loan to 72 or 84 months, you’ll end up paying more for your vehicle over time. And, if your car is getting older and experiencing problems after four years, you’ll still be locked in.

If you can swing it, keep your loan short. This way, you’ll be able to pay off your loan faster, and you won’t find yourself underwater if something happens to your car. 

Make a Down Payment 

If you sold your previous car to a private buyer, you can use this money for a down payment. A sizable down payment shortens your loan, and it can help you lock in lower interest rates. This happens because a down payment lowers your loan-to-value (LTV) ratio on your financing, making you more attractive to lenders. 

If you don’t have a sizable down payment, look for specialized online lenders that offer low-rate auto loans without down payment requirements. Credit unions may also be willing to work with you. 

These are some of the best ways to save up to 40 percent on a used car. Keep in mind that there are many ways to save – it’s not just the purchase price that makes a difference. For savings of up to 40 percent, shop with RepoFinder.com

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!

family sitting in car

Best Car Features for Parents

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Shopping for a car is one thing, but shopping for a family car is a whole different experience. You’re not just taking into consideration your needs but also the needs of your family. In addition, it’s likely that the family vehicle will be used for running errands, taking the kids to sports practice and going on road trips. You need something that’s going to accommodate you for all of these activities!

As you start shopping around for a family minivan or SUV, here are some of the best features parents should look for! 

High Safety Rating 

When it comes to driving around the little ones, safety trumps everything. Look for car models that have five-star safety ratings and perform well in crash tests. Other features that make a family car safe include automatic emergency braking, blind spot monitoring, electronic stability control, and side and curtain airbags. 

Plenty of Space 

No matter the size of your family, plan to have plenty of space in your new vehicle. There will come a day (if not now) that you’ll be driving other kids to soccer practice or school. And you’ll be taking your family vehicle on road trips and other family day trips. Everyone should be able to travel in safety and comfort. We recommend getting a vehicle with multiple rows, with the option to rearrange the interior. 

…And Plenty of Storage 

In addition to leg room and comfy seats, you should also focus on vehicles that offer plenty of storage space. Stow-and-go seating is still popular in many hatchbacks, minivans and SUVs. It allows you to pack away up to two rows of seating beneath the cargo floor. This flat space makes it easy to haul large items like groceries, strollers and bikes. 

Reliable Backup Camera 

Backup cameras are a must these days, and they particularly come in handy in busy parking lots and neighborhoods. Using a screen on your dashboard, you can safely back out of your driveway or parking spot with a clear view. You’ll always know what’s behind you, preventing embarrassing moments and serious accidents. 

Remote Keyless Entry 

Another feature we recommend looking for is remote keyless entry, which lets you open and close doors from the touch of the button. This way, you can open up the doors and load up the kids while you’re still bringing in the groceries. And, if you purchase a minivan, you get sliding doors that won’t scratch nearby cars. 

Built-in Sunshades 

Kids get a lot of sun when riding in the car, and there isn’t any protection for them. Even the car decals usually aren’t large enough to cover the entire window. Look for a family car that comes equipped with built-in sunshades so that you can pull them down when you need them. Plus, they darken the car, making it easier for little ones to nap. 

These are just some of the features we recommend looking for in your new family car. There are plenty of other features you can look for as well, such as built-in vacuum cleaners, bluetooth connectivity and backseat cup holders. To find the perfect vehicle for your family at a price you can afford, shop with RepoFinder today!

car driving through lavender fields

Why are Used Cars So Expensive Right Now?

If you’ve gone shopping for a used car as of recently, you were probably surprised to see just how expensive they are. And it’s certainly NOT your imagination. Used car prices have skyrocketed over the past year, and it’s possible that we won’t see these prices go down for quite some time. 

While some people are choosing to keep their current cars, others have no choice but to replace them. If you’re in this same boat, it’s important to understand modern car prices and tips for navigating this changing landscape. 

What’s Causing the Price Increase for Used Cars? 

You’ve likely heard about the chip shortage and how it has impacted new cars. This has had a trickle down effect, impacting the used car market as well.

Microchips are a necessary component for vehicles, and they’re slowing down production worldwide. With far less new car models to choose from, prices have skyrocketed. High dealer markups and a lack of options are forcing people to shop secondhand. 

In other words, a whole new set of customers are shopping for used vehicles and willing to spend money, since they were going to spend it on a new model anyway. This, coupled with low inventory from people not trading in their vehicles, has driven up used car prices. 

What are the Average Prices for a Used Car? 

According to Edmunds, the average price of a used car in November 2021 was $29,011, a sharp increase of 21.4 percent from the same time in 2020. And, more than 2 million used car buyers are purchasing vastly overpriced used vehicles, which means people are putting up the cash. 

However, when you compare that price to the average price of a new car – $47,000 according to Kelley Blue Book – it doesn’t sound too bad. The reality is that cars are expensive right now – new or old – and will continue to be so for a while. 

When Can You Expect Prices to Decrease? 

While no one knows the future, there are some predictions that will hopefully ease your mind. Business Insider predicts that by the end of 2022, prices of wholesale used vehicles will drop by 3 percent compared to the end of 2021. 

However, expect these prices to gradually decrease rather than there being one big drop. It won’t be until supply chains are fixed and production recovers that supply and demand will begin to even out. 

What if You Need a Car Now, But You’re on a Strict Budget? 

If the used car market is out of reach for you, there’s another option: repossessed vehicles.

RepoFinder offers a free list of banks and credit unions that are selling used vehicles, often in good condition. You can save a lot by shopping for repo cars, trucks and SUVs, and you can get the vehicle right away. 

Our inventory is always changing, so check back often if you don’t find what you’re looking for. Discover the many reasons why so many people are choosing to shop for repossessed cars instead of new or used ones – they’re accessible, easy to purchase and give you the most bang for your buck! 

online car shopping

How to Find Repossessed Cars for Sale in Your Area

Are you shopping around for a used car at a bargain price? With pandemic-related car shortages, even used cars are selling for way more than they’re worth. For the best deals, you’ll want to check out repossessed cars. 

Repo cars are vehicles that the banks have taken back from the owners because they didn’t make their payments on time. Usually, the banks give owners a chance to catch up on their payments, but if they’re unable to do this, the vehicle is listed for sale. 

Oftentimes, dealerships scoop up repossessions at great deals, and then fix them up before selling them on their lot. But because they take some time to clean and repair major issues, consumers are paying more for them.

If you want a true repo car at a heavily discounted price, here are some tips for finding one. 

Online Auctions 

A large portion of repo vehicles make their way to auctions. Auctions are popular because they’re a way to reach a wide number of buyers. There are a number of online auction sites, so you’ll have to do your research to find the best ones. 

Some things to pay attention to include: 

  • Membership or registration fees. Most auction sites require you to have a membership. Even if you can browse the inventory, you’ll likely need to be a member to place a bid. Find out what each membership includes, how much it costs, how often you’re billed and if there’s a contract.
  • Selection of inventory. Ideally, you want to choose an auction site that has an extensive inventory of vehicles. This way, you have more to choose from. Some sites even sell recreational vehicles like ATVs, RVs, boats and small aircraft.  
  • How often the inventory changes. Pay attention to how frequently the inventory changes. The more often it’s updated, the more vehicles you’ll have to choose from, making it easier to find the repo car that you want. 

Police Repo Auctions 

Sometimes, it’s not the banks and lenders that are in charge of repossessing vehicles – it’s the police. This is especially common when repossessions are ordered by the court. However, police stations are unable to keep random vehicles on their lots, so they’re motivated to sell them at deep discounts. 

Lender and Bank Repo Sales 

Banks, lenders and credit unions sometimes also have their own inventory of repo cars. They’re usually hoping to recoup some of their losses, which is why they’re willing to sell them to dealerships and the general public at discounted rates. 

RepoFinder.com makes it easy to shop for bank-owned vehicles. We have repo lists from all over the country. Simply click on the state you live in, and you’ll be provided with a list of banks and lenders in your area. We continually update our inventory, and our membership is just $4.95 a month – no contract. 

Find your repo vehicle at a bargain price today!

paying car insurance

Car Buying Mistakes that Can Make Your Insurance More Expensive

When buying a new or used vehicle, most people are looking at the car itself and its features. They generally aren’t thinking about how much the vehicle will cost to insure, that is, until they call their insurance company. Some cars are more expensive to insure than others, so it’s smart to consider insurance costs before buying a car, not after. 

Let’s check out some car buying mistakes that can raise the rates of your auto insurance for the duration of time you own your vehicle. 

Buying a Car Lacking Safety Features 

When insurance carriers set their premiums, one of the things they look at is the risk of collision. If a vehicle has good safety features, such as collision avoidance technologies and plenty of air bags, the chances of having to pay out a large claim are lower. Therefore, the cost of insurance is lower, too. 

On the other hand, if a car is lacking essential safety features, the chances of something going wrong is greater. As a result, insurance rates are higher. As you shop for vehicles, pay attention to the safety features that are included. They can lower your auto insurance – and save a life. 

Purchasing a Car with an Accident History 

Another thing that insurers track is the accident history. A car that has a history of being involved in accidents is going to cost more. 

For the buyer, it’s not exactly easy to know the accident history on every vehicle unless you pull a report. But we do recommend checking the accident history on a car before you buy it, as well as obtain several different quotes for auto insurance. 

Buying a Car that’s More Likely to be Stolen 

Some cars are more likely to be stolen by thieves than others. If you own one of these cars, your insurance will be more expensive. Insurers have to charge more because they typically provide coverage for stolen cars as long as the buyer has comprehensive coverage. 

And, if you think that the chances for your car being stolen are slim, think again. In 2020, there were over 810,000 vehicles stolen. One of the main ways that cars are stolen is from drivers who leave their keys in the car. 

Not Comparing Auto Insurance Quotes 

A lot of buyers aren’t aware that they can compare auto insurance quotes on different vehicles before making a selection. If you’ve narrowed down your options, ask your insurance provider to run a quote for each vehicle. This way, you can determine how much you’ll be paying each month for insurance. If one car is a lot cheaper to insure, this can be your deciding factor. 

If you’re on a tight budget, keeping these four factors in mind will help you trim your auto insurance rates. To shop for affordable vehicles, visit RepoFinder.com today. Once you’ve narrowed down your search, reach out to your insurance company and have them run a few quotes for you! 

car buying during shortages

3 Car Buying Tips in Today’s Market

If you need to buy a used car in today’s market, it’s probably going to look a lot different than it did the last time you shopped around. Between vehicle shortages, high prices and a booming demand, it’s important to know how to navigate a car purchase in these unprecedented times. 

Let’s check out three tips from the experts that will help you make a smart car purchase in 2022. 

1. Realize What You’re Up Against – and Adjust Your Expectations 

First thing’s first – you need to realize what type of market you’re buying a car in. There’s a computer chip shortage, which means new vehicles aren’t getting made. Plus, car manufacturers are still catching up from other pandemic-related factors such as shutdowns and quarantines. 

The cost of materials is also high. Steel, for example, increased by 200% last summer. Despite these challenges, there’s a booming demand for cars. A strong economic recovery, low interest rates and government stimulus checks have boosted much of this demand. However, automakers can’t keep up. 

2. Be Flexible – Don’t Limit Your Options 

Right now, flexibility is key. There’s a good chance that you won’t find exactly what you’re looking for at the price point you’re used to, so it’s important to keep an open mind. Chances are, there are a variety of brands, models and options that will fit your needs. 

It’s also worth considering older models, as many haven’t changed that much in terms of design and features. You can also expand your search by browsing less popular car types such as sedans, hatchbacks and smaller SUVs. 

3. Prepare to Pay Up – Vehicles Cost More Than They Used To 

Even if you’re able to find everything that you want, be prepared to pay more than what you’re used to. New cars are selling at or above MSRP. Used cars are worth thousands more than they were before the pandemic. This is supply and demand at its finest. 

And remember, dealers and private sellers are aware of the shortages and high demand. They likely won’t be interested in negotiating much, if at all. Expect to pay at least sticker price for the car you want. If you don’t want to pay this price, someone else will. 

If you need to buy a car in these unprecedented times, browse the inventory at RepoFinder.com. We have repossessed cars, trucks, SUVs and recreational vehicles at affordable prices – and they’re available to buy today!