Whether you commute to school or live on campus, having a reliable car is extremely useful in college. Plus, buying a car as a college student is a good way to establish credit and learn about managing your finances responsibly.
If you’re thinking of buying your first car during your college years at Texas Tech or another nearby university, be sure to put a lot of forethought into your needs. Use your research skills to think about the tech tools you want, your vehicle’s fuel efficiency, and the price of auto insurance, and compare your checklist to your budget.
Some resources recommend sticking within a $10,000-$15,000 budget if you’re buying a car as a college student, since this will allow for cheaper car insurance premiums, plus smaller monthly payments. There are many excellent used cars that are within this price range, at Pollard Used Cars, we can help your find a vehicle that fits your budget.
Once you know your budget and are ready to shop for an auto loan with a good loan agreement. Many institutions will offer auto loans to college students, knowing that it’s a prime time to begin building a credit score. Just be sure to shop around, and save up as much as you can so you can afford a decent down payment on your new car.
Looking to get behind the wheel of a reliable used car? Our team at Pollard Used Cars will be happy to help.
When you drive a new car off the lot immediately after purchase, you automatically lose a significant portion of its value due to depreciation. This is one of the major reasons that so many drivers decide to buy used models—they do not suffer the same major depreciation that new cars do upon purchase.
But if you’re buying used at Pollard Used Cars in Lubbock, how do you know which car to choose? A common way to choose a solid used daily driver is to look at which models retain their value the best. Websites like Edmunds, KBB.com, and more hand out awards every year to models that have the fewest mechanical issues and retain their value the best over three to five year timelines.
Top Cars That Retain Value
If you’re in the market for a used sedan or a used coupe, you’ll want to consider some of the following models, which have frequently won retained value awards in the last few years:
- Ford Mustang
- Honda Civic
- Honda Fit
- Lexus GS
- Nissan Altima
- Porsche Panamera
- Subaru Impreza
- Subaru Legacy
- Subaru WRX
- Toyota Camry
Top Trucks, Vans, and SUVs That Retain Value
If you are instead looking for a used truck, used van, or used SUV, take a look at the list of the following models, which retain value better over the years:
- Audi Q7
- Chevrolet Suburban
- GMC Acadia
- Honda CR-V
- Honda HR-V
- Honda Odyssey
- Jeep Wrangler
- Lexus GX
- Ram 2500
- Toyota FJ Cruiser
- Toyota Highlander
- Toyota Tacoma
- Toyota Tundra
How to Retain Your Car’s Value
Want to ensure a better resale price down the road? Follow these steps to retain your car’s value:
- Wash and wax it regularly, and store it in a garage.
- Stay current with all maintenance.
- Don’t smoke or keep trash in the car.
- Drive it well, with minimal rapid acceleration and hard stops.