The average bad
credit car loan will
have a monthly
payment around
$300 ...

... AND THERE ARE GREAT CARS IN THAT PRICE RANGE

The big swings in car prices this year are nothing short of historic. Before cash for clunkers, dealers were cutting prices like crazy just to bring people in. When C4C brought people into showrooms, the final price suddenly went back to being closer to the sticker price. Now C4C is winding down, and end of the model year discounts are on the horizon. Keep these price swings in mind when researching prices on the Internet. They are very much subject to change.

To resarch the top cars for poor credit customers (vehicles in the $7,000 to $12,000 range, an area where banks are more comfortable) we suggest:

Auto Loan Central has specific price ranges down to $4,000. If your budget is higher, start with the Consumer Reports best car deals page. Just outstanding stuff there.

We're also fans of the Edmunds.com Best Bets lists. Here's the list for 2009. It has cars going back to 02, and they are quite affordable nowadays.

Kiplinger, the respected money magazine, recently issued a report on the Top 10 used cars under $20,000. The ones closer to our target price range include:
• 2005 Honda Civic (around $12,500),
• The 07 Ford 500. It won Kiplinger's Best New Car award when it came out in 05, but never sold well. You can find one around $12,800.
• The 06 Pontiac Vibe. Under $10,000.
• The 05 Toyota Rav4. Around $13,000.
• The 07 Hyundai Sonata. Similar to an Accord or Camry, only cheaper. $10,000 to $13,000, depending.
• The 06 VW Golf. Around $11,000 -- and it gets 31 mpg highway to boot!.

THE BAD CREDIT TAX

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