Best Cheap Cars

Top 10 Cheap CarsCNNMoney  has once again identified their list of “10 Great Cheap Cars” — the best new cars that sell for less than $15,000.

The cars in the list have not only the lowest selling prices, but also usually have the best fuel economy (except for possibly some more expensive hybrids), lowest maintenance cost, and lowest insurance cost. All-in-all they are big money savers.

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Here are the cars in this year’s CNNMoney “best cheap cars” list. The selected cars all have good quality, good gas mileage, are fun to drive,  and have other exceptional qualities that make them great buys for the money.

1. Nissan Versa

2. Chevrolet Spark

3. Smart for Two

4. Ford Fiesta

5. Kia Rio

6. Chevrolet Sonic

7. Toyota Yaris

8. Kia Soul

9. Hyundai Accent

10. Mazda 2

Many of these vehicles currently have special incentives in the form of discounted prices, rebates, low-interest (or 0% interest) loans, and lease deals.

Free New Car Price Quotes
You can get free price quotes on any of the above cars from quotes will automatically include any cash-back rebates or discounts that are currently available.

How to Take Over Car Payments – $0 Down

take over car lease paymentsWhat would you say if we told you that you could get a late model car for an effective payment of as little as $99 a month, with no money down and in many cases even get money back.

Here’s how it works.

You find someone (we’ll tell you how in a moment) that wants or needs to get out of their new-car lease. In most cases these will be people who leased a car a year or so ago and have now found that they can no longer make the payments due to illness, job loss, divorce, or other personal circumstances.

They discover that the leasing company won’t allow them to simply end the lease and walk away, regardless of the reasons.  To end the lease early means losing a lot of money.

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It’s better if they can find someone to simply take over the lease and avoid an expensive early termination altogether. As it turns out, this is pretty easy to do, and it creates a great opportunity for others. Continue reading

How to Buy Repo Cars

Looking for a cheap car for sale? You might to look no further than your local bank.

Let’s explain.

Banks and credit unions finance a lot of cars for people who need auto loans. Sometimes those people lose their jobs, get into divorces, or otherwise find themselves in situations in which they can no longer keep up car payments. They often are late with payments, or miss a number of payments altogether.

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If a borrower stops making payments or is consistently late, the bank places the loan in repossession status and takes steps to recover, or repossess, their car. They will send a towing company or repo company to find the car and bring it in. Even if the borrower voluntarily returns the car, it is still considered a repo.

After a car is repossessed the bank can either try to sell it themselves (watch for “for sale” cars in the bank parking lot), or they can turn the car over to a professional car auction company. Smaller banks might use the “self-sell” approach while larger banks nearly always use an auction service. Ask your bank who auctions their repossessed cars. Then contact the company to find out where and when auctions are held.

Repo Cars For Sale. Buy Direct From Insurance Auctions. Flexible Financing.

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Where Are Cheap Cars?

Basically, there are four kinds of cheap cars: cheap new cars, used cars, leased cars, and repairable cars.

We’ll be discussing all these types of cheap cars on this web site.

Just remember that if a car is cheap, when compared to other similar cars of its type and age, you should take extra caution to determine why it’s cheaper.

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There could be hidden problems, accident damage, a salvage title — or it could be a scam.

Buying a used car requires much more care and caution than buying a brand new car.

Meantime, we’ll give you some information and ideas that you can get you started on your quest for a car.

Here are just some of the places you might look for your inexpensive car:

  • Small independent used-car lots
  • Consignment car lots
  • Police seized-property sales and auctions
  • Government surplus vehicle sales and auctions
  • Insurance auctions of salvage vehicles
  • Repossessed vehicle sales and auctions
  • Special car leases – less than $200/month
  • Bank repo sales
  • Wholesale public car auctions
  • Buy-here-pay-here (BHPH) used car dealers
  • New car promotional sales
  • Special car lease deals offered by car manufacturers
  • Unclaimed and abandoned car auctions

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Cheap Car – Cheap Insurance

Most people who are looking for cheap cars are really looking for the least expensive way, overall, to own and drive a car. A cheap car that is expensive to insure is not a cheap car at all.

Unfortunately, car insurance is one of those evil necessities of car ownership. And it’s not always cheap. But there are ways to make sure you get the lowest price possible.

Every car owner needs auto insurance because 1) it’s the law, and 2) it protects you from financial disaster in case of accidents. Every state has some kind of financial responsibility laws that require you to have the ability to pay for your liability in an auto accident that you cause. In some states the minimum requirements are quite low, which means that if you only choose  the minimum coverage, rates can vary widely between different states. Your cousin in Tennessee could be paying a lot less than you for the same car, same coverage in California.

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Furthermore, the cost of insurance in all states is regulated by state government insurance agencies. Again, this means that rates in different states can vary widely. To make it even more complicated, auto insurance companies keep statistics that show accident and claim frequencies in each state, which means rates will be higher in those states with higher numbers of accidents.

On a personal level, car insurance rates typically depend on the individual insurance company. Some companies are cheaper than others for certain classes of drivers, age of driver, driving record, credit score, where he/she drives , how far he/she drives, and the type of car he/she drives.

Certain cars such as small high-powered sports coupes are more expensive to insure — because they are wrecked more often by young drivers. New cars cost more to insure than old cars. Luxury car insurance costs more than for economy cars. Cars that are expensive to repair have higher insurance rates.

What does all this mean in terms of finding and buying cheap auto insurance?

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How to Get the Best New Car Deals

best new car dealsFinding great deals on brand new cars is not as hard as it used to be. In fact, many new cars with manufacturers’ incentives are better and cheaper deals than many newer model used cars.

Only a few years ago, the best way to get the good deals on new cars was to have good negotiation skills and to wait until the time was right — which meant waiting until the end of the model year, or the end of the month, or anytime when sales were slow. You also needed to shop around and know about MSRP, dealer invoice prices, and holdbacks if you expected to get a price down anywhere close to a dealer’s cost.

In the new economy, those techniques are still valuable but you don’t have to work nearly as hard now to get a great deal on a new car.


In a word, INCENTIVES — rebates, low interest rates, 0% interest, special lease deals, and secret factory-to-dealer cash — all of which come from car manufacturers to help dealers sell cars in a slow economy. In other words, car manufacturers are now offering better new-car deals than customers could make for themselves. The deals are there for the asking, with no need for additional negotiations in most cases. In fact, manufacturers help dealers to an extent that it would impossible for dealers to independently make those same deals for customers. And customers could not possibly independently negotiate those same deals.

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Buy a Leftover Car – Good Deal or Not?

Leftover carsIs it possible to get good deals on last year’s model leftover cars at dealer clearance sales?

When car manufacturers come out with next year’s new model cars, last year’s models become “leftovers.”  Manufacturers and dealers often get caught with too many unsold leftovers. These are cars that must be sold to make room for the newer models. These are typically called “clearance sales.”

Is there an opportunity for buyers here?

You bet there is.

Car manufacturers add “incentives” to the leftover models to make them attractive to potential customers. For example, they might add a $3000 rebate to a 2014 model after the 2015s have come out.

This means car buyers can pick up last year’s model for $3000 less than the new model, even though the two cars are essentially the same. Rarely do car makers make big changes from year to year. Many car buyers routinely buy cars in these clearance sales to save money.

So what’s the catch? Continue reading

Leftover New Cars for Cheap

cheap leftover carsWhen most people think of cheap cars they automatically think “used” or “pre-owned.” They assume that buying a brand new car is too expensive and they never investigate to see if they might be wrong.

Many of those people would be surprised at what they find — if they looked at buying last year’s leftover models. For example, when 2015 models came out, many dealers still have unsold 2014 models sitting on their lots. They MUST sell those cars to make room for new cars.

Car manufacturers help these dealers out by offering heavy customer rebates and giving dealers “hidden” factory-to-dealer cash on leftover models.  Dealers can use the hidden money any way they like, but they almost always choose to give it to customers as a price discount.

If you are looking a good deal on a brand new car, why would you consider last year’s leftovers?

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Best Used Cars

best used carsWhat are the best used cars for less than $10,000?

Every year, Consumer Reports magazine publishes its annual Auto Issue, completely dedicated to automobiles — ratings, results of owner surveys, best and worst makes/models, most reliable, and best fuel economy.

One section reports the reliability history of almost every vehicle model for the past 6 years. From this data they select the best used cars in a number of price ranges. These models earned the best reliability rating for their model years.

Here are some examples of the most reliable vehicles from the most recent Consumer Reports Auto Issue :

Less than $10,000

Small Cars – Toyota Prius (2004-07), Scion xB (2004-06), Pontiac Vibe (2005-08), Toyota Matrix (2004-07), Ford Focus (2005-06 and 2008-09), Mazda3 (2008), Scion tC (2005-06)

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How to Finance a Car

how to get car loanMost automobile buyers don’t have the necessary cash to purchase a car outright.

Therefore, they require an auto loan, often called auto financing.

Auto loans are different from other types of loans in that the car itself is the collateral, which means the lender has the right to recover (repossess) the car if the borrower defaults on his payments.

Auto loans are provided by banks, credit unions, and finance companies. Most car dealers work with outside banks or finance companies to help customers get loans. New-car dealers work with the car manufacturer’s “captive” finance company. For example, Ford dealers use Ford Credit, Inc. to provide financing for customers.

Novice car buyers often think that car dealers provide car loans. Except for a particular type of used-car dealer, they do not. Although dealers may do preliminary credit checks on customers, and handle the loan application process, they do not approve or provide car loans, although it might seem otherwise to those who don’t understand the way car loans work.

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Cheapest Car Lease Deals

As of this writing there are numerous car manufacturers offering special cheap car lease deals.

So which cars are the cheapest to lease? Which cars have the lowest monthly lease payments?

Most special car lease deals being offered by car manufacturers and dealers are genuinely good deals. However, these special deals may only apply to a few models or styles.

If you like those styles, great. If not, you can lease another model or style but you might not be able to get the same manufacturer-backed special deal.

Another thing to know about cheap car leases is that the low monthly payment offer might be accompanied a down payment (cap cost reduction)  requirement to get that payment.

Even though the deals are good and genuine, you might have to have some up-front cash to get it. You can still get the deal even if you don’t have the up-front cash but you’ll pay about $20-$30 more per month for every $1000 you don’t pay down. It’s still a good deal but you’re simply paying more per month.

to set the stage, the cheapest lease payments are generally in the $200 (or less) a month range. These are typcially for 36 month leases, 10K-12K per year mileage allowance, and usually require some money up front (cash due at lease inception) that includes a down payment and the first month’s payment.

If you don’t understand car leasing or know how to determine if leasing is right for you, we suggest you visit before making your decision.


Cheapest Way to Drive a Car

Looking for a way to drive a relatively new car for cheap? There’s one good way that most people don’t know about.

It’s called a lease takeover, or lease assumption, or lease transfer.

Here’s how it works.

Someone leases a brand new car, makes a down payment, makes the first month’s payment, pays dealer doc fees, pays taxes, and pays a bank fee. His monthly lease payments are probably very low compared to a conventional loan for the same car. Maybe he got a special promotional lease deal and got even lower payments. (If you don’t understand car leasing, see our sister web site

Now, let’s say the person has run into financial problems (got divorced, lost job, illness, etc.) and can no longer afford the car lease payments. Instead of simply returning the car or letting it be repossessed, which can be very expensive and damaged to his credit, he chooses to put the car up for a lease assumption.

In a lease assumption, or takeover, the “seller” finds a “buyer” who would like to take over the car and the lease for a couple of years. It is a big advantage to the “buyer” because he simply pays a small transfer fee to the lease company and takes over payments. He avoids all the up-front payments, fees, and taxes associated with an original car lease. Furthermore, he gets the benefit of any low-payment special deals that the original lessee got. Finally — and here’s a big benefit — in most cases the “seller” actually offers to pay a cash bonus to anyone wanting to take over his lease. What a deal!

So how do you find “sellers” who want to transfer their leases to willing “buyers?” Where do you find these kind of deals?

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Buy-Here Pay-Here Car Dealers

You can recognize them when you drive by their car lots and see their signs — “No Credit, No Problem,” “We Finance Anyone,” “Sign and Drive,” or “Easy Credit.”

These are known as “buy-here, pay-here” car dealers. They handle their own financing, do not check credit, do not report credit, and will generally approve any buyer who has a job and a means to pay regularly.

For people who need a cheap car but do not have an established credit history, or have a poor credit score, this might seem like a dream come true. It seems to be a way to buy a car when no other option is possible.

So, is buying from a buy-here, pay-here (BHPH) car dealer a good way to get into a cheap car?

Maybe —  if you understand what you’re getting into — and you have no other alternative.

BHPH dealers sell inexpensive cars at high prices, without warranty or guarantees, and allow buyers to finance at high interest rates. Since they do not check credit, they charge the highest interest rates legally allowed in that state.

They also put the buyer on a strict monthly or weekly payment plan. If the buyer misses a payment, the car is repossessed immediately. Electronic devices installed on the car will disable the engine if a payment is late, and a GPS device will allow the dealer to find the car to repossess it.

If buying from a BHPH dealer is the ONLY way you can get a car, then you should consider it. However, know that the cars they sell usually have not been inspected or repaired (do you see a repair shop or mechanic on their premisis?), are overpriced (did you check prices at Kelley Blue Book at ?), and repayment terms are the worst (did they mention the sky-high interest rate?). Also know that, since they don’t check or report credit, buying from a BHPH dealer won’t improve your credit score even if you make all your payments on time.

If you’re looking for a cheap car and don’t have a way to finance it, a BHPH dealer might be the answer to your problems. But if you go that way, know what you’re getting into.

$0 Down Car Leases

zero down car lease dealsCar leases are very flexible in that you have the option, in most cases, to make no down payment — $0 down on your car lease.

Most car leases, even those advertised with a “required” down payment, are also available with no cash  due at signing.

Of course, the monthly payment will be higher since you are not pre-paying some of the lease obligation. In general, for a modestly priced vehicle, you can expect your lease payment to increase by about $40 for every $1000 you don’t make as a down payment.

Although all leases are structured so that a down payment is optional, some special lease deals offered by car manufacturers in monthly promotions may require a down payment in order to get the deal. You could do the lease without a down payment but the actual deal might not be as good (see for details about how to evaluate a lease deal). Continue reading

Government Car Auctions for Cheap Cars

car auctionsGovernment vehicle auctions can be a great source for good “cheap” cars. You may have seen announcements and ads regarding these auctions, which are held all over the country almost every week of the year.

Buy cheap cars at Government car auctions“. Repossessed cars and trucks. Seized and surplus vehicles. Are these claims true? How does it work? Are these real deals? What’s the catch?

Government car auctions – In a nutshell
In short, various federal, state, and local government and law enforcement agencies regularly auction off surplus, unclaimed, and seized property, inclucing automobiles, equipment, and even real estate. These are collectively known as “government auctions.”

Who holds government auctions? The General Services Administration (GSA) is one of the largest. Then there’s the FBI, IRS, DEA, U.S. Marshals, Department of the Treasury, Homeland Security, and Border Patrol, to name a few. State, county, and local governments also have regular auctions.

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Lease Your Car for Lower Payments

Car Leasing – The Short Version

Leasing a car can produce much lower monthly payments. But to lease successfully, you need to understand it.

First, car leasing is not car renting. It is not like apartment leasing or renting. This is frequently misunderstood and leads to many people who would otherwise benefit from leasing to declare that “you throw your money away” when you lease a car. While that rationale is valid with apartment renting, it is not valid with car leasing.

Car leasing is a form of financing in which you pay for the natural depreciation of value that all cars experience, and you pay a finance charge just like with any other form of financing. The money that you “throw away” is the same money that is lost to depreciation by anyone who buys a car with cash or with a loan.

We give a big chuckle when we hear someone who doesn’t understand leasing tell someone else that “you have nothing to show for your money” at the end of a lease. Duh. It’s true — because you pay 50% less in monthly payments, you don’t pay extra money to “invest” in your car. You only pay for the natural depreciation in value that every car experiences — not the whole car. What they don’t explain, or understand, is that if you buy a car with cash or a loan, the average car loses 50% of it’s value during a 3-year period — the exact same amount you pay for if you lease a car. Continue reading

How to Buy a Car with Bad Credit

buy car with bad creditMany people in the current economy have suffered the misfortunes of financial pressures, unemployment, and rising costs which have resulted in credit issues, late payments, bankruptcies, repossessions, or home foreclosures.

Even with all these problems, most people will need a car and are finding it difficult to impossible to find money or financial help to buy a car or get a car loan.

Let’s take a look at some of the possible options for people this kind of difficult situation.

Buy cheap – If you can scrape together some cash, possibly by selling things you have, getting a temporary job, or borrowing money from family or friends, buy the cheapest car you can afford with the cash you have. You can always move up to a better car as your finances and your credit improve later. Use the ideas and suggestions found in other articles on this web site for where and how to find good cheap cars.

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Cheapest Used Cars

Cheap CarIf you are looking for the absolute cheapest and most inexpensive used cars, there are some things you need to know so that you’ll know what to expect when you start your search.

Of course, the bottom is the limit in the sense that it is always possible to find a great car in great condition for $250 or $500. But it’s not very likely. If you do you’re either extremely lucky, or you had the patience to have looked at hundreds of cars before you found the one “jewel.”

Most used cars guides such as Kelley Blue Book don’t even list cars with values under about $1750 and those in the price range under $2500 are vehicles that are about 20 years old, including many makes and models that are now obsolete.  You won’t find $500 cars in a used car price guide.

However, if you are looking for a cheap car in the $2000 price range, you would find some of the following vehicles: Continue reading

Cheap Performance – Cold Air Intake Kit

#1 Best Air Intake System Kit for CarsMany car owners look for ways to improve the performance of their vehicles, at the lowest possible cost.

One of the best ways is to replace a car’s factory air filter with a cold air intake system. The idea is to allow unrestricted cool air to enter the engine, which allows more oxygen to mix with the gas, which increases power, engine efficiency, and in most cases, improves gas mileage.

A factory air intake system restricts air flow due to having a large filter, inefficient filter housing, and complex piping.

Any vehicle’s power can be improved by replacing the factory air intake with a less complicated, less restricted system with a simple filter. Essentially, all add-on cold air intake systems consist of a simple filter, a short pipe to the intake manifold, and possibly a heat shield. By using a heat shield and placing the intake  filter as close to the front of the engine compartment (and away from the hot engine), the more effective the system will be. Cool air is much more efficient than hot air.

We have reviewed a number of cold air intake system kits and have selected the #1 best air intake kit of those available, based on the reviews of hundreds of actual buyers/users.

The best intake system will be one that is easy to install, relatively inexpensive, is guaranteed to produce the power increase promised, has a long-life warranty, and comes from a reputable company. You’ll pay anywhere from less than $100 to $300 or more, but make sure you look at more than just cost. Also make sure you buy the model that fits your vehicle.

Click on the link below to see our #1 pick for best car air intake system kit:

Best Vehicle Cold Air Intake Kit

Cheap Car Deals – Less Than $200 a Month

cars for teensCar manufacturers offer special lease deals almost every month that are created to attract customers who are looking for affordable car solutions. These are are called “incentive leases.”

Many of the lease deals have monthly payments of less than $200 a month. There’s usually a down payment required. As in all leases, the first month’s payment and official tax, tag, and registration fees are also due at the time the lease is signed.

The leases shown below typically expire at the end of the current month, unless noted otherwise. Most are for 24, 36, or 39 month terms and allow 1000 miles per month. If you are interested in one of the deals, make sure you get the details before signing because there can be variations between dealers and different regions of the country.

Furthermore, customers will need to have good credit to qualify. If you don’t know your current credit score, you can easily get it for free with a simple enrollment at services such as

Here are the cheapest car lease deals being currently offered:

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How and Where to Find Cheap Cars for Sale