Monday, August 20, 2012

How You Can Drive a Newer, Nicer Car for Less Money


Would you like to drive a newer, nicer car for less money? Of course you would. Virtually everyone would. What's the catch you ask? There is no catch. Let me explain...

People tend to think of car payments when I pose the question above. While there is no question that car payments are a big component of your transportation costs, there are a few other very important factors.

In addition to car payments, your monthly transportation costs include insurance, fuel costs and maintenance and repair. I would like to challenge you to think beyond car payments and instead focus on all your monthly transportation costs. Let's examine each of the four components.

Car payments - As I mentioned, this is what people typically think about when we talk about transportation costs. Traditionally, a new car means a higher payment. Depending on your current loan terms, a newer, nicer car could mean lower car payments. The current loan environment is perhaps the best we have ever had in the auto industry. At Harry K's, we shop about a dozen financial institutions in order to get you the very best possible rate and terms. We use our volume credit buying strength to your advantage.

Insurance - People often think a newer, nicer vehicle means higher insurance costs. While that may be true in some cases, it is not always true. New and late model used vehicles have many safety features that may actually reduce your insurance costs. If the insurance payment does go up, often the increase is minimal. We have resources available to us that will help you determine what your insurance costs will be.

Fuel Costs - Over the past several years, roller coaster gasoline prices have made everyone more sensitive to fuel economy. Almost every new or late model vehicle will get better fuel economy that an older model of the same type. We have a special calculator that will help you determine how much a newer vehicle will save you in monthly fuel costs.

Maintenance & Repair - Obviously, a newer, nicer car should save you maintenance and repair costs. We also have a program that can help you lower or eliminate these costs.

So your monthly transportation costs are a total of these four factors. If you reduce your costs in one of these areas, it can increase by that same amount on another of the areas and your overall monthly transportation cost remains the same. For example, if you buy a vehicle that gets better fuel economy and will save you $15/month (remember we have a special calculator that will help you determine this) your car payment can increase by $15/month and your overall transportation costs remain the same.

I'd love to show you more exact data that deals with your specific information. Call Harry K Chevrolet at 800-888-0544 or Harry K Ford at 800-888-1419.

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