Los Angeles, the City of Angels, is synonymous with sprawling freeways, iconic road trips, and a diverse car culture. If you’re on the lookout for a budget-friendly vehicle, you’ve probably come across ads touting $99 down cars. While this might sound too good to be true, it’s a legitimate option for many buyers. This guide will walk you through the ins and outs of purchasing a $99 down car in Los Angeles, ensuring you make an informed decision.
What is a $99 Down Car?
A $99 down car is a vehicle you can purchase with just $99 upfront. This type of financing is particularly appealing for those who may not have a large sum of money for a down payment but need a reliable vehicle. The remainder of the car’s cost is financed through a loan, which you’ll pay off in monthly installments.
Why Consider a $99 Down Car?
- Low Initial Investment: The most obvious advantage is the minimal upfront cost. This makes it accessible for people with limited savings.
- Immediate Access to Transportation: If you need a car urgently for work, school, or family, this option gets you on the road quickly.
- Credit Building Opportunity: For those with poor or no credit, making consistent payments on a financed vehicle can help build or improve your credit score.
Where to Find $99 Down Cars in Los Angeles
Dealerships:
- DriveTime: Known for working with buyers of all credit types, DriveTime offers a variety of financing options including $99 down deals.
- CarMax: While not always advertising the $99 down, CarMax offers a range of financing options and might be able to work out a similar deal based on your credit profile.
- AutoNation: Another reputable name in the industry, AutoNation frequently runs promotions that include low down payment options.
Online Marketplaces:
- Cars.com: Filter your search for deals and low down payment options.
- AutoTrader: Use the advanced search features to find vehicles within your budget and preferred down payment range.
- CarGurus: Known for its comprehensive listings and dealer reviews, CarGurus can help you locate the best deals in LA.
Key Considerations Before Buying
- Interest Rates and Loan Terms:
- Be aware that low down payments often come with higher interest rates. Ensure you understand the total cost of the loan over its term.
- Compare different lenders to find the best rates and terms.
- Vehicle Condition and History:
- Always check the vehicle’s history report (like Carfax) for past accidents, ownership records, and service history.
- Have the car inspected by a trusted mechanic to avoid future costly repairs.
- Insurance Costs:
- Get insurance quotes before purchasing. Some cars, especially older models or those with higher mileage, may cost more to insure.
- Monthly Budget:
- Ensure that the monthly payments fit comfortably within your budget. Consider all associated costs, including insurance, fuel, maintenance, and potential repairs.
Steps to Purchase a $99 Down Car
- Check Your Credit Score:
- Knowing your credit score helps you understand what financing options you might qualify for.
- Get Pre-Approved:
- Apply for pre-approval with multiple lenders to see what kind of rates and terms you can get.
- Visit Dealerships:
- Visit multiple dealerships to compare their $99 down offers. Don’t hesitate to negotiate terms.
- Review the Contract Thoroughly:
- Ensure there are no hidden fees or terms that could complicate your financial situation.
- Test Drive and Inspect:
- Never skip the test drive and inspection. Make sure the car feels right and is in good condition.
Final Thoughts
Buying $99 down cars in Los Angeles is a feasible option for many, but it requires careful consideration and research. By understanding the terms, shopping around, and being mindful of your budget, you can drive away with a deal that works for you. Remember, the key is not just to get on the road but to ensure that your purchase is sustainable and beneficial in the long run.
