Tag Archives: holidays

car as a Christmas present

How to Give a Car as a Christmas Gift

Now that the holidays are in full swing, you’ve probably seen countless ads for cars. But do people really buy cars as holiday gifts? Some do! This is why auto companies and dealers push holiday advertisements – they recognize that people indulge in each other during the holidays. Even though cars are expensive, people are primed to make extravagant purchases during Christmastime. 

So, if you plan on buying someone special a new vehicle, here are some tips to follow. 

Understand the Recipient’s Preferences

Consider the recipient’s lifestyle, preferences and needs. Do they have a particular make, model or color in mind? Will they be transporting kids, pets or sports equipment? Do they do a lot of highway or city driving, or do they stick to rural or suburban streets? It’s a common misstep to pick out a vehicle that YOU like, but you need to think about who you are gifting the car to. 

Financial and Legal Considerations

Determine your budget for the gift. Buying a car involves various costs, including purchase price, taxes, registration, insurance and potential ongoing expenses. Some people pay the upfront costs of the vehicle, and then the recipient makes the monthly payments. Others buy the car outright or make the payments each month. Either way, make sure you establish who is paying for what. 

Ownership and Documentation

Understand the legal requirements for transferring ownership. Have all necessary documents ready, including the title, bill of sale and any required transfer forms specific to your state or country.

Choosing the Right Car

Decide whether you’ll gift a brand-new car or a pre-owned one. Both options have their merits, with new cars offering the latest features and warranties, while used cars may provide more value for your budget. 

Another option is a repossessed vehicle. A repo car is one that was taken from its previous owner for defaulting on their loan. In many cases, repo cars are newer and in good condition. And, you’re only paying a fraction of the cost for them! 

Keeping It a Surprise

Decide on the best way to surprise the person with the car. This is the best part! You could stage an elaborate reveal on Christmas morning, present keys in a creatively wrapped box or arrange a scavenger hunt leading to the vehicle.

Handling Logistics

Sort out insurance coverage before presenting the car. Arrange for temporary insurance if necessary, and be prepared to transfer the registration into the recipient’s name promptly. Furthermore, plan the logistics of delivering the car. Will you drive it home or arrange for transport? 

Gifting a car is a gesture of immense thoughtfulness and generosity. By planning meticulously and considering the recipient’s preferences and needs, you can make this Christmas a truly unforgettable experience with the gift of a car. To shop for repossessed vehicles in your area, visit RepoFinder today!

gifting a car for the holidays

Surprise a Loved One with a New Car for the Holidays!

This entry was posted in Used Cars and tagged , , on by .

A new car might sound like an exorbitant gift, but it can actually be a practical way to free up time in your household. For instance, if you’ve been driving your teen to work, giving them their own car frees up your schedule and lets them take on more hours. Or if you and your significant other have been sharing one car, having a second vehicle allows you to get a second job. 

Some people also need another vehicle so that they can make money from ridesharing or delivering food and groceries. In this case, having a car can actually pay for itself over time! Whether for a high school student, college student or someone else special in your life, here are some tips for surprising a loved one with a new or used car for the holidays. 

Find the Right Vehicle 

With car prices and interest rates soaring, it’s important that you take time to assess what type of vehicle is best for this special someone. It sounds simple, but it’s also easy to get carried away paying for features you don’t necessarily need. 

Start by asking yourself what the purpose of the vehicle is. Is it to get to work or school? Offer ridesharing services? Carpool with others? Also, in what conditions will the car be driven? At night? In inclement weather? On long distances or uneven terrains? 

Secure the Right Financing 

Whether you plan on making the monthly payments, or the recipient will be helping out, make sure you get the best financing. Compare rates from different lenders. Many lenders will pre-qualify you without impacting your credit score. This way, you can see what rates you can get, and use this as negotiating power at the dealership. 

Also keep in mind that if you are taking out the loan, you won’t be able to transfer it to the giftee. If the giftee wants to be on the loan, they’ll have to file a new loan application and go through the approval process. 

Register the Car in Their Name

Even though the giftee’s name won’t be on the loan (unless you work this out ahead of time), the car can still be registered to them. You have two options for this. You can wait until Christmas Day and head down to the DMV to register the car in their name, or you can register the car in your name and change it later on. 

Check Insurance Coverage 

Auto insurance is something else to think about. Before your loved one takes possession of the car, make sure that it is properly insured. Talk to your insurance carrier about possibly extending coverage if you are replacing a car or adding a new one to your policy. Keep in mind that some cars are more expensive to insure than others, and your loved one’s driving record will also impact rates. 

Shop for Repossessed Cars 

RepoFinder.com offers the largest bank repo list in America. You can find repossessions sold at discounted rates – there are absolutely no fees or commissions. You are buying directly from the seller, which means the transaction is between you and them only. Don’t be afraid to negotiate, especially if you’ve done your research on the vehicle and compared interest rates. 

Finally, top off the gift with a big red bow! This special someone will surely remember this Christmas for years and years! Getting a new vehicle for the holidays is certainly memorable, and you can improve your quality of life by making sure that everyone in the house has a dependable car to drive. 

holiday car shopping

Tips for Buying a Car During the Holidays

If you’re looking to splurge on yourself this holiday season, a car might be just the thing! After all, you need a vehicle to get you to and from work, so it makes a practical gift. It may also be time for an update, especially if your current vehicle is lacking the latest safety features. 

But is the holiday season really the best time to buy a new or used car? Or should you wait until after the holidays? Actually, you can’t go wrong with either one! Savvy car buyers know that December and January are great times to buy because dealers are hoping to unload old inventory.

Keep in mind that with car shortages, this year may look a little different in terms of prices and inventory. But we still have some useful tips that will help you make a smart car purchase during the holidays. 

Shop on Christmas Eve and New Year’s Eve 

Christmas Eve and New Year’s Eve are some of the best days to shop for a car. Dealers are eager to get old inventory off the lot, and they know that buyers are motivated to make a purchase. 

Research shows that you can get an average of 8.12% off the Manufacturer’s Suggested Retail Price (MSRP), which adds up to thousands of dollars in savings. If you can, it’s also better to shop in the mornings when the crowds are smaller and you can get more attention. 

Be Ready to Act Quickly 

Even though car inventory is low this year, people still need cars. Therefore, if you find a good deal, you must be ready to act quickly. This is why we recommend doing your research at home so that you can compare your options without pressure. 

At RepoFinder, you can browse our inventory of repossessed vehicles at your leisure. Find cars that meet your needs, take time to review their features and ask the sellers questions. When you’re ready, you can place a strong bid. 

Consider Last Year’s Model 

Even though you might be drawn to the 2022 models, you can save big bucks by going to a 2020 or 2021 model. The car is still new and probably has similar styling and features as the latest models, but they’ll be thousands of dollars cheaper because the dealers consider them dated. 

Bring Your Own Financing 

Another helpful tip for purchasing a new or used car over the holidays is to come with your financing in place. Dealerships make part of their earnings through interest rates, which means they’re often higher than they need to be. 

You can save money by going to your own bank and acquiring a pre-approved loan. For an even better deal, shop for a car at RepoFinder.com where banks and credit unions sell their repo inventory. You can get financing straight through them, and they’re often willing to negotiate even better deals. 

Shop at RepoFinder this Holiday Season

Hopefully these tips have given you the direction you need to start shopping for a new or used vehicle over the holidays. If you miss the month of December, you can expect some great deals in January, too! But for the very best deals every day of the year, be sure to check out the repo inventory on RepoFinder.com.