Advice about purchasing a new car

[waled44]

I woke a few weeks ago ready to head off on my normal routine. I gathered myself, the kids, and the million other items I need on a daily basis and we shuffled out the door. As any other day I swung by the school and dropped the kid off. I headed to the bank and handled the daily banking. A quick stop at the store and off to the office. As I left the bank I found myself confronted with the front end of a Ford pickup truck. I can't say it was one of the best views I have had of a truck, or a view I would care to repeat.

So I am now on the market to find a new car, again. I have a number of vehicles in mind that I would love to purchase, but the reality is that the past few years have been a bit more challenging than I would care to admit. It has been a number of years since my last car loan, and my pile of scrap metal was paid off when it merged with that Ford. I will get a little bit of money from the insurance, but I doubt that it is going to be more than a small down payment on my next car.

I am in the process of cleaning my credit up and getting things back to where they once were. My credit isn't horrible by any means, but I have had some trouble the last few years. I have managed to start making payments and arranging to clean up the debts I have on my report, but it is a process that requires time and patience.

I thought I would head to the internet and see what information I could find that might be useful. I found myself on this page http://en.wikipedia.org/wiki/Credit_(finance) on Wikipedia. I find it intriguing that there are so many different types of credit and loans. These financial people certainly understand how to leverage money in a way that creates a profit. They tell me that credit is the exchange of resources where one party gives another party resources in exchange for repayment of those resources at a future date or in installments until the debt is repaid. I wonder if they would allow me to wash cars as a resource exchange for a vehicle?

I discovered that car loans are labeled as consumer credit. These types of loans typically have a different expectation for us to meet because consumer goods are considered to be luxury items. This means that it is more challenging to acquire one of these loans. I would consider my vehicle somewhat essential as I find that a 20 mile walk on a daily basis just to get to work would be a little inconvenient. Regardless, I began to look for other websites that could offer help, advice, and even loans if at all possible. There was little surprise to find several million websites that offered a variety of services, loans, and nearly anything else I could desire. I came across http://www.bestautolenders.com/ from Prescott Financial. Have any of you used these folks to acquire a loan? Any feedback on the quality of their service?

Looking for a new vehicle has a ton of stress, but a bunch of joys, as well. One aspect of finding a new vehicle I enjoy is the hunt for the car itself. It has been a few years since the last car I purchased, and I am excited to head out and test drive as many vehicles as I can. Any suggestions from you folks? What vehicle do you currently own that you would recommend to someone like myself? Would you recommend buying it brand new or used? If used, how old or how many miles? Any advice on other aspects I should consider as I look for a new vehicle?