Even though it will cost more money, there are specific advantages to buying a newer car.
One of them is that you have to spend less money on maintenance and many of the newer models offer better gas mileage.
With gas prices so high these days, that feature can no longer be overlooked.
If you do decide to buy and finance a newer model, you need to be aware that your car insurance will be much higher.
Most car insurance companies will require you have full coverage when you are paying off a car loan.
What might surprise you is that much like your loan, the insurance rates are based highly on your credit score.
Because your score is used when you try and buy a new vehicle, you can use it to your advantage to save you money.
When you apply for an auto loan the bank or lender checks your score.
That is where you can make up for financing the car because a good number can save you hundreds of dollars a month, not only on the loan itself, but on insurance as well.
If your best bet to save money is a high number you need to make sure you avoid things that can hurt it like checking it too many times, repossessions, missed payments, law suits, foreclosure, identity theft, and much more.
If you have experience any of these problems and need a fast and effective fix you may want to look into credit repair.
The problem with trying to fix your score the traditional way of simply paying your bills on time is that you will have to wait months and even years for that to be truly effective.
If you use credit repair you can get the results you want in a matter of weeks, and it is affordable too.
It can fix a score no matter the reason it was lowered.