No Car Yet? Get One With The Cheapest Price Available!

Car Salesman: "Hello!. Good day. Welcome to, John Doe's car shop. The best in town!What do you want,  Sir? A brand new or secondhand car? Which do you prefer? Do you have the collateral? Do you have enough cash to pay it at once? Or do you want to avail our installment payment program?"

"Okay, let me direct you to our showroom. There are new car brands that came yesterday. If you are interested. I can give you a discount. Blah-blah-blah!"

Customer: "I just want a cheap but realiable car. Maybe, a re-possessed one. A secondhand!"

Car Salesman: (composing himself) "Uh...well, you can choose the cheapest; the casings are brand new, new upsholtery and the machines' chassis was overhauled and cleaned. It's already tuned up. And it's branded, too, Sir!"

Customer: "I want that old car over, there, the red one!"

Car Salesman: "That's not possible, Sir! You can choose another one!"

Customer: "WHY?"

Car Salesman: (sheepishly) Errr...that's my car, S-s-ir!"

My brother, who's working as a mechanic at the BMW-Riyadh in Saudi Arabia, left me a very sensible advise when buying a car.

"Don't mind the flashy casing of the car; hear the 'smooth' revolution of the engine."

Then, it's done.

Since he's the authority; he shared stories, anecdotes that happened while working back here in the Philippines. Some wealthy customers often ask their advice when purchasing a brand new car. It's okay to test drive a car to ensure its durability.

Routine checks can be the following:

1. Check the batteries, clutch, accelerator, the engine.
2. Check the front and tail lights.
3. Check the upsholstery/ accessories of the car.
4. Check it all. It is okay to scrutinize it because it will be your constant companion wherever you go.

Famous car brand names can add up to the prize of the unit. Choose wisely. Competition is the name of the game. Don't go with the latest fad. Choose a sensible and reliable car that will carry you to your destination without delays.

That's the BIG question that popped out on me was: "Did I really need it right now?"

QUESTIONS like: "Am I just going to risk my life for car thieves or accidents on the road?" "Environmentally wise, am I just going to contribute to the pollution problem of this world?"

Or SiMPLY, "I just need it for my job!"

Sound reasoning should be considered when buying a car because it will add up to the liabilities on your finances. Just imagine how car mortgae will eat up all your savings. This is aside from the fact that you're in the verge of bankruptcy due to home mortgages.

I'm not discouraging myself. Nor you. If it's really the right time to have a car, then I'll go for it.

I don't want to ask the salesman. I'll go directly to their shop to choose what's best for me and my lifestyle. I am not an office worker or a car racer, I just want to speed up my travels, whenever I go to my friends' places or go for new adventures.

Understanding the parts of the Car Loan

Better be educated with Car Loan Terminologies, first before you plunge into buying a car.

If you can't afford to buy a car at one setting, you can apply for a loan. Geeting a loan means you will pay back the principal plus interest to the lender in due time.

1. Term - How long will you be able to pay the car in the bank, to the lender? Let's say two years or more. The longer you pay the car, the more interest you will pay, too!
2. Interest Rate - It means the charge given to you by the lender once you borrowed their money. This will depend on your credit history. Once you get into the loan process, ask immediately what will be the interest per month and its accumulated equivalent annually. The APR (Annual Percentage Rate) should be your focus when you compare it to other lenders. Better have a personal survey first, before getting into the negotiation or signing-up of your loan contract.
3. Downpayment - Now, this will be your initial cash money for payment. The bigger your downpayment, the lower your interest will be. That's how it's gonna be. The remaining amount or balance to be paid will be distributed on your next monthly payments until you pay the whole amount of the car plus the interest.

WAIT!!! It's not over yet.

• You can immediately ask for the computation of your car loan. It's a given. They'll immediately orient you with the paying process and the calculation of your payment. Better ask for a copy in order not mislead or confuse you for the process.
• When you lend money from the bank or credit union, they'll ask for a collateral. Let's say, your house and lot ownership or other assets that will be your guarantee that you will be able to repay them. As I said, banks and other lenders are also competing with each other. You should be wise in choosing what's the best lending institution available at your place.
• There are terms on dealership's financing offer that shouldn't be missed. After agreeing for the car's price, you can ask for the delearship's financing offers. If an inerest rate is higher at the dealership's offer and at the same time the rebate offer is also higher, it can be the best come-on to you. Take the dealer's offer and refinance your loan online at a lower rate. The only danger in refinancing car loan can fall to the used car category that can pose a big problem to you.

Car manufacturer's tough competition, I summed up, will be the names of the cars they produced. Car owners will easily remember the name of car they owned, not it's manufacturer per se. Maybe, if you ask him further, then he or she will remember. Yeah, I can remember Ford or BMW. Or Mitsubishi or Mazda. Cars in the USA were largely manufactured by the Ford car companies before. Not for now; it's been dominated by cars from Europe and Asia as well.

I came across with this set of most popular car names that most of us will agree. Two thumbs up, I would say. I can't get over with the Mustang car I'm owning one day. Not for now, though. It is included as the number 1 car name, according to the latest survey that AoL Autos conducted.

Ford car dominance is still a competition to beat.

The rich or can-afford individuals will go for flashy cars like, Ferrari, Lamborghini, Dodge, Rolls-Royce or the latest Bugatti.

And the most successful cars sold around the world are:

1. Toyota Corolla - Since 1966, the Japanese Toyota car company sold more than 35 million model of this car. It evolves as many as 9 generations and named as Best Selling Car of All Time.
2. Ford - F Series - The present best selling car in the world. Twenty million cars sold and still increasing. It dominates the USA and Canada. You can count on its durability, too.
3. Volkswagon Golf - The first model was produced in 1976. It is very popular in Europe and gaining popularity worldwide.More than 24 million cars sold to date.
4. Volkswagon Beetle - The most popular car that never changed its body for almost 60 years. It also inspired movie series, Herbie and most loved by children.
5. Ford Model T - The vintage style makes it the second most selling car in the world with 16, 500,000 cars sold to date.

 Have you heard?

Tata Nano of India is considered the most cheapest car model last year and will continue its dominance; unless, a new model of cheap cars will be in the market. With a prevailing price of $2, 500.00 (Two thousand and five hundred dollars) or 80,000 rupees &  just around Php 85,000.00 (Eighty five thousand pesos).

Other  brand of cheapest cars that caught my attention are the following:

• Nissan Versa - Suggested Retail Price : $12, 700.00+/Dealer's Cost: $12,400.00+ with 5- year maintenance, repair cost and warranty
• Hyundai Accent - SRP: $13,700.00+/DC:$13,300.00+ with 5 year-maintenance, repair and warranty
• Toyota Yaris - SRP:$13,900.00+/DC:S13,200 with 5 year-maintenance, repair and warranty.

Note: It's important to know the insurance cost, resale value for the span of 3 to 5 years. For more cheap cars, you can follow my link.

These cheap cars are brand new. I'm not saying of secondhand. But if you want to settle for the latter, it's up to you. Just to own your first car.