Tag Archive | "car financing"

Buying New or Pre-owned autos take your choice

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Buying New or Pre-owned autos take your choice

Posted on 01 April 2013 by admin

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The decision of wanting to buy a new or used autos can be overwhelming.  Just from the standpoint of available inventory the choices are mind-boggling; add to that the pre-owned options and you truly have more to choose from than you could ever imagine.

Considering the value of your present car and its current condition is the first step in deciding to  buy.  Many believe that buying a new car is often too expensive but the reality is that as of right now, there’s really no better time to buy a car. With the plethora of current financing options, leasing, dealer incentives, and more, the new car options have never been better.

There are a few things to consider when deciding if a new car is better than a used car.  The first consideration is financial – can really afford the payment?  Beyond the initial cost per month it’s important to factor in the current costs of maintaining the older car and any possible upkeep that may be required in the near future.  A new car has a complete maintenance and warranty package with some manufactures including bumper to bumper services.  These benefits could save you thousands of dollars over the life of the warranty.

Older cars continue to need similar maintenance but with those scheduled maintenance comes the unexpected repairs.  The older the car and the more miles on the car the more you can expect to pay for major repairs.

The decision to buy a new car or a pre-owned car is also an important consideration.  Many reputable dealers like Ken Garff Dodge certified inventory provide a long list of inspections that must be passed in order for the car to be sold.  If a car cannot pass the inspection guidelines, the car becomes wholesaled to a less reputable used car facility.

Large dealers sell in volume and are more inclined and more able to make substantial saving for the buyer.  In addition to the saving on the initial price many come with available warranties for a specific time or millage that cover the power train and other specific areas.  These options are available for a nominal fee and offer the buyer an additional security of getting a good deal.

Another important option of buying from a reputable dealer is the support after purchase.  Many have discounted rental cars that can be used if needed. Most provide pickup and delivery to your home or office and all provide excellent mechanics and service to help in reducing the stress and anxiety when problems do arise.

Whether you decide to buy a new car or a pre-owned the buying decisions and options have never been better.  There are more colors to choose from, more ways to customize your choices and more financial engines to make the deal you want run more smoothly than ever before.

If your old car is giving you grief maybe it’s time to stop by and take a look, see what’s out there, and see what you can really afford. You might be pleasantly surprised; you may even find yourself driving home in that perfect car.

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What to Consider When Buying a Car

Posted on 22 October 2012 by admin

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Most people would say is the price, of course, a major factor. Since you will probably be paying for a car in monthly increments via a car financing deal, you are probably considering how much it would cost you per month for a considerable length of time. Of course, there are sacrifices that need to be made in order for you to have that car you’ve been eying for months – but if the car is worth it and would keep you mobile for many years, then why not?

Another major consideration for most of us is the brand of the car. A practical Civic or Ford Focus would be ideal for jaunts within city limits or quiet country roads. If you will be using a car every day, then practicality would be your best option. If, on the other hand, you are looking for a top-of-the-line sports car that you will only use once in a while, then your choices would be different. The point is to be prepared to pay a substantially greater amount for it.

Vehicle make and model: assess what’s right for your needs and preferences.

The type of vehicle is also another consideration. There are coupes, convertibles, hatchbacks, sedans, station wagons, mini vans, vans, SUVs, and even trucks. Which type of vehicle is right for your needs? If you have four kids, a minivan or SUV might be your best choice. If you plan to take your vehicle on rougher terrain than usual, you can opt for a pickup truck. If you’re a city dweller and will only take your vehicle along small city streets, then a hatchback or coupe is the ideal vehicle for you.

In line with this comes another question: whether to buy a new car or a used car. Granted, a new car is more pleasant to look at, and besides, it has that new car smell. On a more serious note, however, a new car comes with a warranty that allows you not to pay for repairs for a number of years. Although a new car may be more expensive than a used one, your maintenance fees are minimal for a while. However, there’s one thing to keep in mind: you can also get warranty for a used vehicle.

When it comes to car financing options, you will be delighted at the broad array on offer today. Many car lenders are eager to do business with various buyers. Interest rates can go as low as 7.9%, and payment options can range from 18 months to five years. Are you concerned about having a bad credit rating from the past? You need not worry, as some lenders do not consider this a problem – if you can pay now, then your past history doesn’t matter.


Tom Veasy is a freelance writer with an interest in consumer and financial affairs. He writes for several financial blogs about car finance and companies like Car Loan 4U.


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When to Check for Discounts on Your Auto Insurance

Posted on 17 October 2012 by admin

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Automobile insurance companies are headaches to us all. The term ‘auto insurance’ itself rarely inspires much other than a frown and an anticipation of dealing with waiting on hold, and hearing some sort of irritating news. They generally offer services that are ultimately low to adequate on customer service and expensive, which at best, gives the average person only a simple sense of indifference towards them.

However, there is a way you can brighten your day when having to deal with your auto insurer by knowing that you were able to lower the cost you pay for their services. We all know that auto insurers offer discounts, at least at some basic level, but what most people do not know is that most insurers offer more discounts than they advertise, and that to get them, the policyholder has to personally inquire about it.

So when should a policyholder ask his or her agent about receiving extra discounts off their auto insurance premiums? The answer to that is simple, anytime there is a significant change in your life or daily routine.

This is extremely relevant in that aside from actual discounts, you can reduce your base premium rate by changing cars or driving styles.

When to call your agent

-When you change cars/drivers, not only is it required to maintain coverage, but it can also save money on your premium by switching to a car that costs less to insure.

-If you are driving less than originally estimated. Your premium is based on the amount of driving you plan to do during a 6 month or 1 year period, if you are driving less, then tell your agent and your premium will decrease.

-If you have a teen or college driver on your policy, having good grades will merit a discount on the cost to cover them. If your student is good grades, make sure your insurer knows about it.

-If you bundle multiple policies into one from a single insurer, then they will offer a discount on the total combined premium rate. If you have things like ATV’s and snowmobiles, consider bundling them along with your homeowner’s/renter’s insurance to your auto insurance, or vice versa, to receive big savings on your total monthly cost.

-If you are a safe driver and have not been in a reported accident for 3 years or more, then you qualify for a safe driving discount.

-Having a good credit score will also lower your base premium. If your auto insurance is higher than you think it should be, let your agent know if you have a good credit score and it may lower your bill.

-If you have taken a driver’s safety, often called ‘Defensive Driving’, course, your auto insurer will reward you with a decent sized discount.

-For those with comprehensive and collision coverage for their vehicles, having up to date anti-theft devices installed on your car will make sure to keep the thieves out and the price to insure it low.

-Being a long term customer generally has its advantages, most insurers reward their patrons by offering discounts, and sometimes they are even tiered to offer higher discounts for the longer policyholders.

-One discount that is almost always overlooked is one for being an affiliate member to another organization. For example, being an affiliate member to the Honda Motorcycle Association, or Costco, or AAA can offer you discounts with particular insurance companies.

Do not expect your newly found discounts to pad your wallet just yet though. It generally takes until the next renewal cycle for most of discounts to take effect. The prices for the next renewal will reflect your price after all the discounts. Sometimes however, a discount can be applied immediately after discovery. If this is the case, then your insurer will not send you a refund check, instead they will apply a credit worth the amount of the discount to your next renewal cycle bill.

No matter what company you hold an auto insurance policy with, it is a good idea to ask your agent about what particular discounts you can qualify for. Since every insurer and policy is different, the requirements for each of their discounts are not universal, so it is important to ask your agent exactly what you qualify for instead of relying on word of mouth and hearsay from friends, because chances are, their situation is completely different from yours.

Mark McCrell is an auto aficionado who loves to drive his 1974 Buick LaSabre around town and write about all things auto. He currently blogs for the website AutoInsuranceQuotes, which specializes in auto insurance tips.

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Car finance

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Top five tips – Applying for car finance

Posted on 16 August 2012 by admin

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These days owning a car is a necessity, not a luxury due to the improved standard of living that has changed many people’s lifestyle. However, the fact is that many individuals face is the difficulty in affording a car due to the lack of funds. If you are going for a used car then you can acquire a used car loan that provides you with the capability to negotiate on the price of the car. As the procedure for the application of used car loan is little different, most lenders may not have this facility, but you can find out the best banks that do through doing some research on the web.

Now focusing on the process that is involved in applying for car finance:-

I. Inspect the lender: This will be the first step of applying for car finance, where you need to examine the different banks available and their proposals. Assure that you know all the details regarding the lender’s operations and all the benefits associated with the finance. Pick up the best one for your vehicle and also your budget, so that you won’t face any kind of burden in paying back the loan. It was noticed that certain people have become the victims of fake lenders, who took all their money and disappeared in no time; to avoid such tragedies you need to be alert and inspect the lender in detail so that you rectify any of your doubts.

II. Accumulate necessary documents: Following the finalization of your lender, the next step would be to gather the essential credentials that will be asked for by the lender. These may include your proof of identity, income proof, and residence proof and also there may be a requirement to produce the income tax (IT) proof with your salary slips and bank statements. Some lenders may also require your passport details, driving license and other relevant evidence; but this varies amongst different banks.

III. Analyze the interest rates: Most lenders try to bluff the borrowers by offering low interest rates, because of which many people become victims. It has been noticed that the main reason for using underhand techniques is due to people’s uninformed idea that only the monthly payments are evaluated and this results in higher interest rates, longer repayment duration and a huge down payment. So it is vital that you analyse the entire loan agenda, including the length of the loan repayment, rate of interest, any benefits included and the down payment amount.

IV. Unfasten the transactions: It is recommended that you ask your banker to individually stipulate all the actions that you have to make, such as the car price, financing terms and conditions, trade-in values, process of getting used car loans and other relevant details, as it is very easy to get confused if you don’t break them down and analyze them thoroughly.

V. Think of the consequences: Rectify all your doubts and ascertain the consequences that could arise if you are unable to pay back the minimum monthly amount. And also know what has to be done to overcome any hurdles and penalties that you will be charged. You can take a financial adviser’s suggestions so that you won’t go through such tough times and organize things respectively. Also design yourself a financial plan in such a manner that won’t perplex you.

Author bio: Simon John Clark. My passion is to write on Finance, Insurance, Travel, Home Improvement and Home appliances, you can reach me @financeport.


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