Dealers experienced in helping bad credit customers overcome financing
hurdles
will generally make sure they have cars from $7,000 to $12,000 on their
lot. That's because cars in that price range can be had for payments in the $250
to $300 a month range, and that's the area where banks are most comfortable
when it comes to dealing with people with a credit ding or two
.
The 2008 Consumer Reports Auto Issue has all kinds of information on the top
used car bargains, listing roughly 100 different makes and models ranging from
$4,000 to $10,000. As a general rule, a Japanese car will cost about the same
as its American counterpart as long as it is two years older.
That's why, for instance, at a recent Cars.com story on Top 10 used car bargains, you'll see a 2005 Ford Focus but a 2002 Honda Accord; a 2005 Chevy Colorado but a 2003 Subaru Forester.
Edmunds.com puts out a list of Used Car best bets every year, and here's our secret on those lists -- go back a few years and find cars that have dropped into that magic $7,000
to $12,000 price range. You'll find some of the most popular
cars in America (such as the Honda Accord or Toyota
Camry) but they'll be at least six years old. This is
not a bad thing because are being built better
than ever, and last a lot longer than they
used to.
Another useful technique is to research
"platform cars." That's where cars are
pretty much identical in everything but
name (Pontiac Vibe / Toyota Matrix).
