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Buying a New Car: Tips for Young Adults
Written by paul on June 25th, 2008 with
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Buying a new car is an exciting time for teenagers and young adults. A car represents a certain level of independence, and young people don’t have to rely on their parents or friends for transportation. Unfortunately, mistakes are common among first time car buyers.
If you’re buying a new car for the first time, consider the following tips.
1. Keep it Affordable: Some people make the mistake of buying a new car they can’t afford. Although the dealer or auto lender will review your credit and verify income, they can’t assess your entire financial situation. For example, credit reports don’t reveal monthly premiums for auto or health insurance. Furthermore, reports don’t reveal monthly utility expenses. Thus, it is the responsibility of the car buyer to purchase a car within their budget.
2. Compare Rates: A few auto lenders are famous for charging excessively high interest rates. If buying a new car, getting a low rate is important. To obtain the best rate possible, practice good credit habits and get quotes from multiple lenders. You don’t have to accept dealership financing. Rather, contact a local bank or credit union.
2009 Corvette ZR1 starts at $103,300
Filed under: Car Buying, Coupes, Supercars, Chevrolet, GM
Click above for high-res gallery of the 2009 Corvette ZR1
General Motors and Chevrolet have just released all their official numbers for the 2009 Corvette ZR1 and… hold on to your butts… its base MSRP (including destination charges) will be $103,300. Add to that a $1,700 Gas guzzler tax, $2,000 for chrome wheels and another $10,000 for the only Option package available that adds upgraded seats, side air bags, Bose audio, a nav system, Bluetooth, power tilt/telescoping steering wheel and leather-wrapped interior, and you’re looking at a grand total of $117,000. We believe that may make the Corvette ZR1 the most expensive product ever offered by GM, but consider what you get. The ZR1 is a 638-hp supercar that can reach 60 mph in 3.4 seconds, run the quarter mile in 11.3 seconds at 131 mph (!) and top out at 205 mph, all while returning 14 mpg city and 20 mpg highway. Unfortunately, Chevy didn’t hit its target of having the most fuel-efficient supercar on earth with the ZR1, as they admit that the Dodge Viper (13/22) and Porsche GT3 (15/22) are a bit less thirsty. Of course, they’re neither as powerful nor as fast, and the Porsche is more expensive. The ZR1 will likely be marked up by dealers far above its $117k asking price, but kudos to General Motors anyway for having the balls to build it.
[Source: Chevy]
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GM launches Military Discount program
Filed under: Car Buying, GM
Members of the United States Armed Forces in need of a new vehicle just got bigger lift from General Motors. GM has revised its military discount program, allowing for increased savings over previous program iterations. Detailed information is available online at GMMilitaryDiscount.com for active and reserve members. The price reductions range from $1,500 for a Buick Enclave to $4,200 for a GMC Sierra. On top of that, other GM offered incentives may also be combined with the military program.
In order to promote the updated savings plan, the GM Military Discount Tour will be making stops at several different bases. The traveling show will feature a showroom complete with product specialists and a full lineup of GM’s hottest products, making it even easier for time-constrained military personnel to get a feel for GM’s most dynamic offerings.
[Source: GM]
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