Here are 3 Used Supercars You Can Buy for Under $80,000

by Gabrielle DeSantis

Buying a supercar is an idea that most of us believe is reserved for the wealthiest of car consumers, but there are plenty of options on the used car market that are surprisingly affordable. In fact, with the rising price of new cars, it isn’t uncommon to find new consumer cars in the same price range as you find some older used supercars, even in good, running condition. While there are some nuances to buying these affordable supercars, it isn’t an impossible task. There are a handful of entry-level supercars you can find for less than the price of many new cars — and, if you’re willing to put in a bit of wrench time, you can find them even cheaper in need of some TLC.

The Dodge Viper

The Dodge Viper was the American supercar built for muscle car enthusiasts, and with the roaring V10 engine it easily outperforms its competition in both obnoxiousness and power. It isn’t uncommon to see older generations of the Dodge supercar on the used car market for around $40,000 to $80,000 depending on age, mileage, and condition, but even though you can be them cheap doesn’t mean you should. These cars have a reputation for being widowmakers for a reason — even the most experienced driver can find themselves losing control of the Dodge Viper and ending up in a ditch. This affordable supercar isn’t for the faint of heart.

A Dodge Viper SRT 10 | Bill Pugliano, Getty Images

The Lotus Elise

There is a lot of debate over whether or not the Lotus Elise is considered a supercar, but for all intense and purposes, we are going to agree that it is. It’s rare, exclusive, and performance-oriented — while it doesn’t offer a jaw-dropping amount of power, the British supercar makes up for it in a lightweight body and design that create a dynamic power to weight ratio, and a handling experience that makes it feel like you’re driving a go-kart. The Lotus Elise was only imported into the US for a handful of years, making them rather rare vehicles, but it isn’t impossible to find them for around $40,000 — or, if you enjoy rebuilding wrecked supercars, I purchased two of these for less than $30,000 each in drivable condition.

The BMW i8

The BMW i8 was the brand’s flagship hybrid supercar, boasting spaceship-like designs inside and out, and even back seats to bring along extra passengers — though you probably don’t want to actually sit there. Once ranging over six figures, it isn’t uncommon to find this German supercar for sale for around $60,000 in good, running condition. The hybrid drivetrain shares components from BMW and MINI, though you may have to find a specialized technician or mechanic to do any of the maintenance on this supercar.

These may not be the most exciting supercars on the market, but each of these options is more affordable than a Lamborghini or a Ferrari. Regardless, these supercars still offer an exciting amount of performance and definitely get bonus points for being unique and rare.

RELATED: What Ever Happened to Paris Hilton’s Famous McLaren SLR?

The post Here are 3 Used Supercars You Can Buy for Under $80,000 appeared first on MotorBiscuit.

/by

Can Tow Truck Companies Charge You Whatever They Want?

by Gabrielle DeSantis

Nothing can ruin a good day like an unexpected car tow. The number of cars towed annually in America totals in the millions. The whole endeavor tends to be so expensive that some people think they’ve fallen prey to one of many tow truck scams. This has led drivers to wonder how much tow truck companies are legally allowed to charge. 

So, what is the most a towing company can charge?

Tow truck | Jeffrey Greenberg/Universal Images Group via Getty Images

The short answer is it depends on the state. Some states have no price protections, others have nebulous regulations, and only a few states offer strong protections for drivers. U.S. PIRG, a consumer rights group, investigated each state’s towing laws. The report has declared, “Unfortunately, most states do not have maximum towing and storage rates, and many fail to define clearly the definition of ‘reasonable rates’ that towing companies must adhere to.”

Because most states aren’t very consumer-friendly when it comes to towing, here are six ways to protect yourself and save money, according to Insurify. 

Prepare a plan of action

One of the best things you can do is establish a plan for what to do if your car is towed. Are towing companies required to report the tow to the police? Who is responsible if the car is damaged during the tow? Will your auto insurance coverage help? These are all good things to know to protect yourself from unfair towing in your state. 

Ask for an insurance adjuster

If your car was towed due to an accident, you want an insurance adjuster to examine it as soon as possible. You can request this easily through your insurance agent. The sooner an adjuster can review your vehicle, the sooner it can be moved to a repair shop. If your car is considered totaled, you also want that confirmed quickly so that you can get the cash for a new vehicle. 

Collect all the towing paperwork

It’s easy to forget the paperwork during the stress of an unsolicited tow or after an accident. In most states, tow truck companies are required to report all tows to the local police department. The local PD should have all the details of who towed your car and the company’s contact information.  

When retrieving your vehicle, request an itemized receipt. Make sure the towing company’s logo is on the invoice. 

Avoid unsolicited services from towing companies

This is most common in auto accidents or if your vehicle gets stuck in bad weather. Out of almost nowhere, a tow truck will show up to save the day. However, these so-called traffic chasers are working a scam to charge a ridiculously high amount. Before accepting any tow, be sure to get the price. Asking the police or your insurance company to arrange the tow can save you from this scam. 

Join a roadside assistance club

AAA and other roadside assistance clubs can save you a lot of money on towing, especially if the cause is vehicle failure or bad weather. Memberships cost less than $50 to $150 per year and provide a certain number of tows or unlimited tows up to 100 or 200 miles, depending upon the membership level. This can be a huge cost saver, especially if you drive an older car you want to keep running forever. 

Have collision coverage on your insurance policy to lower towing costs

If you’re involved in an accident, collision coverage can be a major cost saver.  It will cover the cost of repairs, towing, and storage regardless of who’s at fault. Collision coverage is highly recommended for expensive or newer vehicles. 

Those are the best ways to reduce costs associated with towing. With a bit of planning and preparation, you can save money during the stressful event of a car tow. 

RELATED: Can Your Car Get Towed Just For Being Ugly?

The post Can Tow Truck Companies Charge You Whatever They Want? appeared first on MotorBiscuit.

/by

Cheaper to Buy New: These Cars Cost More Used Than New

by Gabrielle DeSantis

Shoppers look for the best deals possible when car buying. Usually, used vehicles save money upfront, up to $20,000, depending upon the model. But some are better purchased new. And with used car price increases, new vehicles are beginning to look more appealing. 

According to iSeeCars, some pre-owned vehicles are actually selling for more than new ones. Astoundingly, more than a dozen cars, SUVs, and trucks are seeing a 0.2% to 8.1% increase over new models. 

What’s going on in the auto industry, and how does it affect car sales?

Due to the chip shortage, many automakers aren’t producing as many new cars, so the supply is limited. Because of that, many car buyers are turning to the pre-owned market to find what they’re looking for. But with the increase in used car sales, prices are going way up, making the pre-owned models more expensive than new ones. 

It doesn’t seem to matter if the vehicle has low or high mileage — both are going for some pretty high prices right now. In fact, lightly used 2019 to 2020 models have sold for a couple of thousand dollars more than a brand-new car of the same model. 

The pandemic caused shortages of not only semiconductor chips but also fuel at gas stations across the nation. Prices at the pump are slowly creeping up and hitting many drivers hard. Some are using rewards programs to save a few dollars when fueling up. 

When is buying a new vehicle cheaper than a used model?

New cars typically cost more money because owners can get one with no or low miles on it. However, these days, pre-owned models that are lightly used pop up with higher sticker prices. 

For example, the popular Kia Telluride fetches about $44,166 when brand new. These days, a used model brings $47,730, about an 8.1% difference. The new models have been drawing drivers since the Telluride’s 2019 debut, and even the used models boast higher price tags, iSeeCars reports.

Another vehicle, the GMC Sierra 1500, normally sells for about $54,000. But a used model is going for about $3,466 more. The reason? There’s a demand for it, but GM isn’t producing enough new Sierra trucks, so prospective owners are going to the used market to find them instead. 

Which used car is the most expensive compared to a new one?

One vehicle on iSeeCars’ list has the biggest difference in price between the new and used models.

It’s the Mercedes-Benz G-Class, commanding $182,631 for the brand-new version. But the used model brings 4.1% more — $7,447 over the new Benz. 

This isn’t exactly surprising. That’s because the G-Wagen is one of the fastest-selling cars in America, even more so than the Chevy C8 Corvette. Car shoppers seem to be leaning toward luxury SUVs and sports cars. In fact, they’re almost as popular as station wagons were in the 1970s.

According to The Drive, the price hike on used vehicles could last another six to nine months or more. In the meantime, you might want to consider buying a new car, if one is available, at least until prices return to normal.

RELATED: The Biggest Differences Between New and Used Cars You Should Know About

The post Cheaper to Buy New: These Cars Cost More Used Than New appeared first on MotorBiscuit.

/by

Car Complaints: Consumers Had These Major Problems in 2020 That Will Make You Never Want to Buy Another Car Ever Again

by Gabrielle DeSantis

The Consumer Federation of America recently released the top complaints it received in 2020. Consumers mostly complained about shady business practices, and when they reviewed companies positively, they mentioned honesty as a key factor. Consumers value transparency in business practices, and the top complaints last year reflect that. As for automotive-related complaints, they top the list of gripes with six major categories. 

Car complaints top the list of consumer gripes again

Cars prompt many consumer complaints | Chip Somodevilla/Getty Images

The Consumer Federation of America’s 2020 Consumer Complaint Survey Report says auto-related complaints top the list. They include the following:

  • Misrepresentations in advertising or sales of new and used cars
  • Deceptive financing practices
  • Defective vehicles
  • Faulty repairs
  • Car leasing and rentals 
  • Towing disputes

Complaints such as features not working, failure to be transparent in loan details and pricing, and repairs having to be done several times all fall under these categories. In some cases, a repair cost far more than quoted, or a promised rental car never materialized. 

Procuring a loan for a vehicle involves a finance process that can include add-ons, like ‘free’ service at the dealership or gap insurance that may or may not be needed. While signing multiple copies of paperwork, finance departments have sometimes slipped in the extras without permission, or agreed upon payments may have changed. 

These consumers’ car complaints sound like nightmares

Among consumers’ car complaints: A Consumer Federation of America-affiliated agency helped a man in Arkansas return a GMC Acadia after that vehicle’s driver-assist features kept failing. The dealer had refused to take the vehicle back until the agency stepped in.

Another consumer said she was manipulated into signing for a car she didn’t want, but the dealership wouldn’t take it back until the CFA-affiliated agency advocated for her.

In Florida, a woman took two vehicles to a shop for repairs but was never provided receipts for the work. When another shop verified the requested work hadn’t been done, the CFA agency helped the woman get her money back and discovered the shop wasn’t licensed. 

Similarly, in Maryland, consumers complained about unlicensed shops and repair work being done in parking lots. Faulty work came out of these places, and another CFA agency helped to get the place shut down. 

Another agency affiliated with the CFA helped a man get his car repaired after a free oil change led to catastrophic damage. The shop caused nearly $10,000 in damage, and the agency contacted the company for the car’s owner. The repairs cost more than the car was worth, so the company paid the value of the car. 

Those are just a few of the complaints outlined in the report. The CFA releases this report yearly and encourages people to know their rights and know whom to contact when they need help.

The Consumer Federation of America’s yearly reports

The Consumer Federation of America is a conglomeration of nonprofit consumer organizations. It was established in 1968. Nearly 300 groups participate in the federation. They aim to advocate, educate, and serve consumers, the CFA says. 

The CFA surveys consumers and compiles their complaints. It uses this information in a few ways. As an advocacy group, it pushes for pro-consumer laws in Congress and works with other officials to pass beneficial policies that protect consumers. 

It also compiles the information for press releases and gives the information to the media. One of the CFA’s top goals is to educate people about good and bad business practices so that consumers can avoid them as they see fit. 

As a service organization, the CFA founded America Saves in 2000. This nonprofit organization helps lower and middle-class Americans establish good savings habits, which in turn can pull them out of poverty. 

In addition, the CFA releases a yearly compilation of consumer complaints. 

RELATED: The Most Complained About Auto Brands

The post Car Complaints: Consumers Had These Major Problems in 2020 That Will Make You Never Want to Buy Another Car Ever Again appeared first on MotorBiscuit.

/by