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Thursday, November 18, 2010

Entry # 3 How to buy a nice car for cheap!

Most every one has a car. If you don't have one, you are most likely in the process of looking for one. It is very easy to go down to your local car dealership and have them get you into a new or used vehicle. The downside to this is the monthly obligation to pay any where from $300 to $700 a month for as much as 7 years! Also when financing a car, you have to put full coverage insurance on it before you even leave the lot. You add these two monthly payments and you are looking at a good chunk, if not half, of your pay check! Buying a new car works for some people, but if you are someone that doesn't want to be tied down to a machine that gets your from point A to B, this could be for you.

 1. Get on your local craigslist.
 2. Look for a vehicle that is in nice condition but has something wrong with it like a bad transmission or a timing belt that snapped.
 3. Fix it. This may sound difficult if you are not mechanically inclined, but with YouTube at your disposal, you can find a tutorial on how to fix any part on your car.
4. Start driving!

 Ok, now for a little more detail. For the most part every one has a couple makes of cars they prefer. Let's use a Toyota pick up for example. Go to your local craigslist website and search for Toyota pick up and set the price to $1000 (or what ever you are willing to spend. Now go threw the list and click o n the cheapest ones (usually the ones with problems) and find out what is wrong with it. If it is something you can do, or know someone that can do it for you, it will save you a lot of money and you will be getting a running car for less then blue book. For example, say you found a truck for $800, but the rear end is out in it, so that makes it unable to drive. The part to fix that from your local wrecking yard will be about $60 to $100. To replace this should take most anyone no longer than a day. So now you are into the truck for only $900! That is probably less than you will spend in two months on auto loan and full coverage insurance. A running Toyota pick up of any year is worth much more than $900. On the high end, you could be saving a couple thousand on a truck that needed minimal work vs paying full price to someone else when there is no reason to.

 I hope this helped people a little bit in thinking about there next car purchase. If you have the extra cash, you can always do this simply to resell the vehicle for profit. Make sure to look up your state laws on how many vehicles you can sell in a year. Most have a limit of 3 or 4 with out a dealers license. If you want anymore information on this subject, please e-mail at nortrupblog@yahoo.com

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