It's often difficult to find an affordable quality used car when you have credit problems. Many used car lots are filled with high mileage older cars that don have many of the newer features like onboard or portable GPS navigation systems. While these older cars may be priced cheap, chances are they will not make it through the length of the loan. It's much different at Suburban Fresh Start. With our bad credit auto loan finance program you will find a used car that you want to own at a price and payment you can afford. The Suburban Collection has over 1,000 late model low mileage quality used cars. Nearly every car on our lot qualifies for guaranteed auto financing with the Suburban Fresh Start program. When trying to find a used car, however, we recommend that you stay within your budget, especially if you are trying to recover from credit problems. When budgeting for a used car there are several things in addition to the car loan payment that you should consider.
Auto insurance rates vary by the age and gender of the insured as well as the geographical location of the buyer and their place of employment. Auto insurance rates also vary by the body style and type of vehicle. Sports cars tend to have much higher rates than family cars. So you may have always dreamed of owning a Ford Mustang GT, but if you're trying to stay within a budget you may be better served finding a used Ford Taurus.
Lately gasoline prices have been soaring. The price of gas can have a major effect on your budget; take a look at the following example when gasoline prices are at $4.00 per gallon and a person drives 20 miles one way to work each day. A 30 MPG car would use 1.33 gallons of gasoline per day at a cost of $5.33 dollars per day or $112 per month in months with 21 work days. Under the same scenario a 15 MPG car would use 2.66 gallons of gasoline per day and cost $10.66 per day or $224 per month. Yes that is correct. A low MPG car could cost you as much as $100 per month more to operate than a high MPG car.
The best way to budget for the cost to maintain a vehicle and unexpected repair costs is to include an extended service contract at the time of purchase. In most cases this will add anywhere from $20 to $40 per month to your car loan payment. With an extended service plan you will minimize the risk of having to pay for a large sum of money for a major repair such as a transmission or engine problem.