Lending Club Blog

Looking for a new car? Look into cheap sedans.

Choosing whether to buy a new or used car is one of the most common debates in the personal finance world. Although I usually tend to argue for buying a used car, I understand where some of the people in the new-car camp are coming from: they desire a car with dependability, a warranty, and of course that new car smell.

Fortunately, even if you’ve decided that a new car is right for you, that car doesn’t have to break the bank. Many new cars, without a doubt, are incredibly expensive and all will depreciate the minute you take them off the lot. However, given the always-predictable holiday sales, not to mention your forthcoming stimulus check from the government, there are some good reasons to consider a new car.

Bankrate compiled a list of new sedans that all cost under $15,000. Here is their list:

car-table.png

If you look for these same cars on the used market, you might be able to find some great deals. For example, a used Toyota Corolla will probably cost you under $10,000, and it’s also one of the most dependable cars out there.

The Bankrate article also offers some great advice that you should definitely read before starting your car search.

    “The bottom line here is that for the foreseeable future, it is a buyer’s market
    for smart car shoppers. Buy only as much car or truck as you need, set a target
    price and stick to it. Such intelligent shopping can help you do well in these tough times.”

Buy only as much car as you need – don’t go overboard with fancy options that aren’t important. Having a target price will help you keep yourself from spending too much. For smart financing alternatives, check out Lending Club’s low-interest person-to-person loans. Even if you do go with the dealer’s financing, you can take out a loan from Lending Club for the down payment.

Happy hunting!

Wednesday, February 27th, 2008 at 7:53 am

Comments (1)

  1. auta ze szwecji:

    Very interesting article, i bookmarked your blog Best regards

    November 19th, 2008 at 1:47 pm

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

We’ve acquired a company!

Today we’re excited to share the news that we… Read More »
April 17, 2014

Lending Club customer information safe from Heartbleed Bug

You may be hearing about… Read More »
April 11, 2014

New: Loan Origination Data Update

An update for users of our platform statistics and… Read More »
April 3, 2014

Lending Club Launches Business Loans

Today, Lending Club announced the launch of business loans… Read More »
March 20, 2014

Lending Club Extends Privacy Protections for Borrowers

At Lending Club we pride… Read More »
March 19, 2014

How to Protect Yourself from Online Scams and Swindles

It is more important than… Read More »
February 11, 2014

New Statistics Charts to Help Investors Understand Returns

At Lending Club, we believe… Read More »
February 6, 2014

Welcome Home

I became a U.S. citizen earlier this month. When… Read More »
January 27, 2014

Lending Club named #5 on Forbes’ Most Promising Companies List

Lending Club has won the… Read More »
January 24, 2014

Get ready for tax season with Lending Club’s Tax Form Guide

Tax season is coming. To… Read More »
January 13, 2014