new car

What To Do When Your Warranty Runs Dry

Lets be real here, cars are usually unreliable. They’re always breaking down, needing oil changes, new tires, more gas, and other expensive responsibilities. Let’s take a look at the solution to your car trouble!

Constant Car Trouble

Not many people can afford to pay thousands of dollars every time something goes wrong with their vehicle. When adding up all of the expenses that come with having an older car, buying a newer car with warranty tends to be quite a bit cheaper and efficient.

The average monthly payment on an older car without warranty is about $350. That seems pretty cheap, but if you add in all of the extra expenses like frequent oil changes, the occasional battery problem, and new tires, that price quickly rises. The monthly payment of $350 can quickly turn into much more. It may be cheaper to purchase a new car.

A New Car is Cheaper

A newer car with a warranty, averages a monthly payment of about $550. This doesn’t include oil changes or anything not covered under warranty, but most problems that newer cars will have is covered under warranty. So if you add in the occasional oil change and upkeep of a car, you’d be paying no more than about $700 a month on a newer car.

Auto Loans Are Great Options!

All of these prices vary depending on what brand vehicle you buy and how well you take care of that vehicle. Regardless of the brand, price, and upkeep, most people need an auto loan to purchase a car. An auto loan is the most economically smart choice to make. With an auto loan, you’re able to make affordable, monthly payments, and boost your credit score.

Use Rateology

Use our website and learn more about auto loans. We make it easy to compare rates for auto loans from different lenders. After finding the best option for you, Rateology will link you directly to the lender’s application!

About Kylee Osborne

Kylee Osborne is a Technical Marketing Intern at Rateology and often authors blogs about financial topics regarding the industry. She is studying Business Finance at Texas A&M University and hopes to continue her education in Law School. She is based in San Antonio, Texas.

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