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Consider a 2005 Toyota Camry. Buy it at a dealer or from its former owner and you'll pay an average of $16,000. If you get a 5-year loan at 7% interest, your payment will be $316 a month. Not so bad, right?
But now consider finding that same car at auction and paying $5,000 - a very common auction price on this common car. Your payment on a 5-year loan at 7% for this car would be $99. That's a savings of $217 a month - imagine saving that money or having its additional heft for a bigger mortgage payment or home improvements. It's a $2,500 a year difference - a total of $12,500 in savings over the course of the loan.
And, even better, if you hunt with just a little effort at trustworthy, proven auto auction sites, you can find a 2005 Camry for as low as $3,000 - that would be a $59 monthly payment on a 5-year, 7% loan - a $257 monthly savings on your car payment!
I found the BMW SUV my family wanted for less than 25% of market value. It allowed me to consider a car that, normally, I couldn't afford.
Give the auction sites a shot and widen your driving possibilities and improve your life.
I've been hearing from a lot of you! Thanks for the emails! Here's what some people are saying:
I'm a bargain hunter. But I don't like getting burned - and I was burned by bogus websites claiming to be government and repo auction sites. Don't make my mistakes. Search intelligently and use proven websites.
Best auction deals of last week:
Consider the sound economics of buying at auction for your next vehicle. It convinced me.
Consider a 2005 Toyota Camry. Buy it at a dealer or from its former owner and you'll pay an average of $16,000. If you get a 5-year loan at 7% interest, your payment will be $316 a month. Not so bad, right?
But now consider finding that same car at auction and paying $5,000 - a very common auction price on this common car. Your payment on a 5-year loan at 7% for this car would be $99. That's a savings of $217 a month - imagine saving that money or having its additional heft for a bigger mortgage payment or home improvements. It's a $2,500 a year difference - a total of $12,500 in savings over the course of the loan.
And, even better, if you hunt with just a little effort at trustworthy, proven auto auction sites, you can find a 2005 Camry for as low as $3,000 - that would be a $59 monthly payment on a 5-year, 7% loan - a $257 monthly savings on your car payment!
I found the BMW SUV my family wanted for less than 25% of market value. It allowed me to consider a car that, normally, I couldn't afford.
Give the auction sites a shot and widen your driving possibilities and improve your life.
Email me to sign up for my car auction newsletter and to be notified of new posts here.
My email: jlincolncar@gmail.com
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Put "newsletter" in the subject line!
I've been hearing from a lot of you! Thanks for the emails! Here's what some people are saying:
- "Who knew buying cars could be so much fun!" -- Ernie J., Colorado.
- "Score! I got an almost-new Ford F-150 for $4,800. This will save my business a ton of cash." -- Greg S., Florida
- "There isn't much that I've done smarter than getting my car at an auto auction that I found through your rankings. And I absolutely love my Civic -- it's only 2 years old and cost me $1,900!" -- Susan M., Calif.
- "Your information has proved invaluable. I just used your No. 1 ranked site to get a BMW 3-series for $2,100. I am thrilled!" -- Claire G., Texas
- "Your website rocks! Thanks for the help!" -- Bruce P., Calif.
- "Your site helped me a ton. I just got a Jetta with less than 20,000 miles for a steal! Thanks!" -- Kelly A., Ohio.
- "Getting my car via auction proved to be one of the best things I've done in years. Thanks for posting all of this information, it really helped!" -- Craig S., New Jersey
