Bad Credit? You Just Need the Cheapest, Most Affordable New Car
Jordan L Bourland Leave a comment
When individuals with credit issues begin the search for a new car, they face the dilemma of finding an affordable car that meets all their transportation needs. They also need to locate a lender who will partner with them in order to qualify to purchase the right vehicle. At Valley Auto Loans, we lend to people with credit issues and we would like to lend you our years of experience in helping you decipher all the necessary details pertinent to your next vehicle purchase.
What Valley Auto Loans Brings to the Table?
At Valley Auto Loans, we have many years of experience in lending for a wide variety of vehicles and a large, diversified base of customers. Through our lending activities, we have gained useful knowledge regarding the true costs of owning specific vehicles. We have also learned how to appropriately match a customer’s circumstances to the most affordable vehicle on the market. As your auto finance expert, we want to offer you the knowledge we have gained and help you find the best possible vehicle to meet your transportation and economical needs.
The True Costs of Owning a Vehicle
When most individuals are looking to purchase a new car, they typically look at only the purchase price of the vehicle. What they neglect to realize is that each vehicle, depending on several factors, has a real cost of maintenance and operation tied to the vehicle. Here are some of the key costs of ownership.
- MPG – This is the mileage per a gallon of gasoline that the car gets on the streets and highways
- Annual license and registration costs
- Ordinary maintenance – This includes tune-ups, oil changes, brake replacement, tire replacement and washing or detailing
- Major repair costs – all vehicle owners should anticipate a least one major repair over a 5 year period
By adding these anticipated costs over five years to the final purchase price of the car, an individual will arrive at the true cost of owning each specific vehicle. It would be wise and highly recommended for anyone looking to make a new car purchase with limited credit flexibility to establish an affordable budget for transportation. Once that has been determined, research and Valley Auto Loan’s expertise can put you into the right vehicle. A well thought out purchase plan leaves the lender confident in your ability to repay the loan and handle the upkeep.
Affordable Car Ratings
While there are many reputable organizations with annual car ratings, Valley Auto Loan relies heavily on the information provided at kiplinger.com by author Jessica Anderson. The article was written in February 2013 and listed the “10 Cheapest Cars to Own, 2013.”
Ms. Anderson was provided the data by Vincentric, an automotive data firm. Here is the listing from 1-10. Please note: the mileage calculations are based on $3.23 per gallon and all of the cars listed are either compacts or subcompacts. All costs are based on five years of ownership.
#1. Nissan Versa S 4 dr
MPG: City = 27, HWY = 36 Total Fuel Cost: $9,017
Total Maintenance and repairs: $3,971
Purchase Price: $12,615
Other Costs : $1,802
Total 5-year costs: $27,405
#2. Chevrolet Spark LS 4 dr hatch
MPG: City = 32, HWY = 38 Total Fuel Cost: $7,963
Total Maintenance and repairs: $4,202
Purchase Price: $12,924
Other Costs : $2,782
Total 5-year costs: $27,871
#3. Kia Rio 4 dr hatch
MPG: City = 29, HWY = 37 Total Fuel Cost: $8,115
Total Maintenance and repairs: $3,276
Purchase Price: $14,528
Other Costs : $2,597
Total 5-year costs: $28,516
#4. Toyota Yaris 2 dr hatch
MPG: City = 30, HWY = 37 Total Fuel Cost: $8,278
Total Maintenance and repairs: $3,777
Purchase Price: $15,006
Other Costs : $1,624
Total 5-year costs: $28,685
#5. Kia Soul Base 4 dr hatch
MPG: City = 25, HWY = 30 Total Fuel Cost: $10,151
Total Maintenance and repairs: $3,484
Purchase Price: $15,115
Other Costs : $588
Total 5-year costs: $29,338
#6. Hyundai Accent GLS 4 dr
MPG: City = 28, HWY = 37 Total Fuel Cost: $8,725
Total Maintenance and repairs: $3,004
Purchase Price: $15,092
Other Costs : $2,513
Total 5-year costs: $29,474
#7. Scion iQ 2 dr hatch
MPG: City = 36, HWY = 37 Total Fuel Cost: $7,528
Total Maintenance and repairs: $4,131
Purchase Price: $16,250
Other Costs : $1,581
Total 5-year costs: $29,490
#8. Ford Fiesta S 4 dr
MPG: City = 29, HWY = 39 Total Fuel Cost: $8,369
Total Maintenance and repairs: $4,469
Purchase Price: $13,615
Other Costs : $3,274
Total 5-year costs: $29,727
#9. Kia Forte LX 4 dr
MPG: City = 25, HWY = 34 Total Fuel Cost: $9,665
Total Maintenance and repairs: $3,326
Purchase Price: $15,166
Other Costs : $1,612
Total 5-year costs: $29,769
#10. Toyota Corolla L 4 dr
MPG: City = 27, HWY = 34 Total Fuel Cost: $9,219
Total Maintenance and repairs: $3,902
Purchase Price: $15,768
Other Costs : $1,546
Total 5-year costs: $30,435
Over the 5-year life of a car, these are the best deals available. If your lender approves you for a loan despite poor credit, these cars will represent your desire to be fiscally responsible. In many cases, Valley Auto Loans would be happy to put qualified individuals in any of these new cars.
Securing a Loan With Bad Credit Requires Cooperation
Individuals with credit issues can still be considered credit worthy. At Valley Auto Loans, our goal is to form a team with a buyer, dealer and us as the lender. Setting a realistic budget and selecting an affordable car from a reputable dealer are the keys to success. We enjoy working with people at solving problems. Credit issues are just that, a problem that needs to be solved.
So many dealers and lenders will try to play games that can end up putting you in a place worse than the one you are already in. Valley Auto loans won’t do that. We have relationships with many auto dealers who share our goal and mission. We want to take those marginal buyers and put them in a new reliable, efficient mode of transportation. We won’t be happy until we have given you a reasonable opportunity to do what other lenders won’t do, finance a brand new vehicle for your transportation needs. Get get started apply online today!
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