Buying a cheap car, can be a challenge. Unlike brand new cars, used cars don’t have any warranty, guaranty or service contract with the seller. If a problem arises later on like oil leaks, steering problems, alignment, bearing noises, transmission problems, etc., you will have to bear those unexpected expenses without help. There is no return policy on private party sales and even the Lemon Law doesn’t apply to used cars.
A cheap car is a relative term. For some people a car below $4,000 is a cheap car, while for others a cheap car is one which is available at 50% of its original price. However, most people look for cars that are low in price and that best fit their needs and requirements. Make sure you look for hidden problems because most used cars are sold “as-is” and there is no return policy.
You may encounter the BHPH type of independent dealer which offers Buy Here Pay Here deals. These, are usually local dealers with signs and banners on their showroom windows that state: “no credit check” or “we finance anyone.” But the interest rates they charge are fairly high and they have strict payment terms they will request from you. These types of dealers usually cater to people with poor credit. The advantage is they usually have a large selection of cars on their lots in the lower price ranges.
There are a number of online websites of companies and dealers selling cheap cars. Buying online is one of the easiest and most convenient ways to buy or sell a car. If you want to buy a car online always choose a seller who is within driving distance so you can check out the car personally and test drive it.
