How to avoid buying a brand new car for less than $300,000
The cheapest way to get a brand-new car for under $300k is to rent a brand car and drive it home from a dealership.
However, that is not an option for everyone.
According to the NHTSA, the cheapest car rental in the U.S. is $4,900 per month for a 2017 Honda Accord.
That is just $300 more than a new, brand-free car.
For some, the cost is just too good to pass up.
“I just wanted to be as frugal as possible,” said Michael P. from Northampton, MA.
“It just doesn’t seem worth it, and I’m not even buying my own car.”
He added that he doesn’t rent his car out because of its value, but because of the amount of money he can save.
“I’m not going to rent it because I can get it for $600 less.
I’m going to buy it for the money I save.”
While it may seem like a good deal, a recent study by the Insurance Institute for Highway Safety found that even though the average annual cost of renting a car is less than half of a brand replacement, it is still significantly more expensive than buying a new vehicle.
The study found that the average cost of a new car is $27,200 per year, and the average yearly cost of renter-owned cars is $38,600.
It is also worth noting that not every renter owns a brand vehicle.
If you do, the study said you should still consider buying a rental car as you are more likely to have a warranty, as well as insurance coverage.
Read MoreHow to rent your brand new vehicleIf you are considering buying a car that is brand-less, the best way to find a cheap brand car is to look for one that has been purchased with a new-car loan.
While the cost of new-vehicle loans is low compared to brand-owned vehicles, the fees can be significant.
The average $100,000 loan for a brand loan is $14,900.
If you can’t find a brand that fits your budget, you can still save money by renting a brand.
Buying brand-limited cars and then renting them out can save you from paying more than you would with brand-only cars, but you will have to pay the monthly rental fee for a longer period of time.
If you’re renting out your brand-exclusive car, you will pay a $200 deductible, but that doesn’t include the annual rental fee.
If your car is brandless, you won’t be charged a deductible for leasing a brand lease.
Find a brand to rent out toFind a new brand to replace your old car in New Hampshire.
If that sounds like you, then check out our brand search tool.
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