Things to consider before applying for a car loan

Things to consider before applying for a car loan
You are thinking about applying for an auto loan? Read this article first and you will avoid a lot of trouble on the backend.
There are several things to concern about before applying for a car loan. Here are things to think about:

- the percentage of your annual interest
- your monthly interest rates
- the cost for car insurance
- the cost for fuel
- repair costs
- maintainance costs

You see there are a lot of costs a car can solve. It is not only the monthly rates for your car loan that you need to
pay but also lots of other things that you might not have thought about. Make sure you can actually affort the amount
of loan you are planning to get. Nothing is worse then loosing your car just because you couldn’t pay one monthly loan rate.

Be aware of repair costs that suddenly appear, especially at times when you don’t need them at all. Have enough money
on the backend to cover these unexpected costs, otherwise you have the threat to run into dept.

A new car is probably the best thing you can get, you can count on it because it is reliable. If you are planning to get
a used car you want to make sure that it had no accidents before and is actually worth the money.

Maybe you want to read several more articles about cars and car loans. It can only help you to make a better decision
and avoid costly mistakes. At autoloancalculatorinfo.com you can read several articles about cars and auto laons as well as
watch race videos or pictures of fast cars.

Guido Nussbaum, Admin of <a href="http://www.autoloancalculatorinfo.com">auto loan calculator</a> a website about auto loan and cars in general. You are allowed to reprint this article including this author box.

The Three Biggest Questions When Buying a Car
The biggest question in the car buying process is whether to buy new or used.
The second biggest question is what make and model to purchase.
The third most important question is where to get your financing.

#1 New or Used
The average new car costs more than double what the average used car does. (The Kelley Blue Book pegs the average new car price in 2005 at $26,100 and the average used car price at $13,000). It s not surprising, then, that used cars outsell new cars three-to-one.

New car loan rates are about the same as used car loan rates. The major difference between the two is the length of the loan. Most used car loans are for no more than 36 months whereas new car loans can be 60 or even 72 months long.

Remember to take depreciation into account. Depreciation is the difference between the Manufacturer s Suggested Retail Price when you bought the vehicle and what it s worth now. Some new cars lose as much as one-third of their value within a year. On most vehicles, depreciation settles down to about seven-to-ten percent per year after the first three years.

Which brings us to . . .

#2 Make and Model
One way to slow depreciation is to buy a make and model with a prestigious nameplate. Models that depreciate faster than most include: Jeep Grand Cherokee, Ford Explorer, Ford Taurus and Lincoln Continental. Cars that hold their resale value longer include the more expensive makes like Lexus, Mercedes-Benz and BMW.

To learn more about which makes and models offer the best value in today s market, you can research several auto review sites online. You can also use the Internet to check everything from the performance ratings to the safety records of the vehicles you re interested in.

Be sure to test drive any vehicle you are considering under varied road conditions. If the vehicle is used, ask to see all maintenance records and check its history on CarFax. And don t forget to have your mechanic give it a thorough inspection. If you are buying new, try to pay as close to the factory invoice price as possible. You can look up factory invoice pricing online.

#3 Car Financing
Many experts recommend getting your financing before you start car shopping. This puts you in a better bargaining position because the dealer knows money won t be an issue. (They also won t have the chance to run you through their finance department, which is a good thing for you!)

Of the 60 million new and used cars sold annually in the U.S., about 27.5 million are financed by subprime loans to buyers with less than perfect credit. If you have bad credit “a FICO score of 620 or lower “you will need one of these loans.

You will not qualify for the new car offers advertised on TV, like the 0 Down, O Interest or Low APR deals. However, you can still get a good deal on a bad credit car loan from Internet lenders like Auto Loans In Seconds. Their free online application process lets you know exactly how much you can borrow, and at what rate.

Consumers should shop around for financing with the same vigor that they shop around for a car, says Jack Gillis, public affairs director for the Consumer Federation of America. One or two percent can erode all the money you negotiate in a good price.

Mike Hamel is the author of several business books. His auto financing articles have appeared on sites like <a href="https://www.autoloansinseconds.com">Auto Loans In Seconds</a>.

What to Look at Before Purchasing a Used Car
So, you re looking at purchasing a used car. Sure you probably have a wish list with few models in mind, but which one to choose from? With oil prices soaring and the prices of everything on the rise with not nearly good enough pay increases, we all want to get the best for our money and be happy with the purchase made right? We all want reliability, low maintenance costs, safety, and above all great fuel economy. Is that too much to ask? The best way to accomplish all this is by being an informed buyer! First we start with make and model. As stated above, you are looking for what fits you the best, personality, reliability, low maintenance costs, safety, and above all great fuel economy. You may have a few models in mind that are made by different manufacturers. There are websites that you can visit and compare more than one manufacturer all at the same time (www.edmunds.com , www.carsmart.com , autos.msn.com , carfax , www.iihs.org). My personal favorite site is www.consumerreports.org. This site is not free, but it is inexpensive to join ($26 per year or $4.95 per month) and it is handy for researching many other consumer products than cars! These sites (as well as others out there) can provide you with invaluable groundwork to make a final decision on one model. Keep in mind that with brand new models, these sites will often have incomplete data as they have not received crash test data etc from government agencies etc. After I decide what make and model I want to purchase I go to the manufacturers web page and do some research on available packages, as well as if they are planning on releasing a newer model in the near future. This can benefit you come purchase time as when a new body style of the same model is released, it drops the resale price of the previous generation of the vehicle by a bit. Every bit counts and you can score big on clearance sales, lease returns, etc if your timing is right. The last thing to research before purchasing a new car is what dealer to purchase from (if you are looking at dealerships). This might take some leg work, as most of this research cannot be done online. You need to get a list of local dealerships and visit each one. This will allow you to observe the atmosphere of the dealership, and see how friendly/service oriented they are. See what kind of warranties they offer, just beware of some extended warranties as they require you to bring your vehicle to the dealership only for service, which can be a hassle etc. On the flip side, buying from a private seller has its advantages and disadvantages. Advantage: Often a lower price, more room to haggle, and less dealership type intimidation, no warranty (unless one is already purchased by private seller and is transferable). Disadvantage: Higher price due to dealer overhead costs, little or no room to haggle, Pay extra for extended warranty. As always the biggest disadvantage/gamble of purchasing a used car is its history. Unless you are lucky enough to stumble upon a used car that is owned by an immaculate owner who has service logs, and receipts of all the service ever done on the vehicle, is always a gamble. This is where a pre-check by your trusted mechanic can pay off, or the purchase of an extended warranty to cover any unknown problems that my crop up (and there always are!). In this day and age, it is important to research products before you buy them. For those of use without millions of dollars to throw away on impulse purchases, we need to know we are getting what we pay for. There is nothing worse than purchasing a car only to have it have serious reliability issues or horrible safety ratings. Just because it looks good or goes fast, does not mean it s reliable and/or safe! Research first = informed decision and ultimately the goal is getting your moneys worth when buying used. www.Jac2000.com New Cars Used Cars Exotic Cars car rental

Tips On Dealing With Auto Fraud
The auto industry and their dealers are rife with scams and fraud and the potential buyer needs to be armed with the knowledge of how these scams work and how to avoid them. There are many dealers that run reputable businesses and can get buyers into a vehicle without using fraudulent means, but there are always those individuals or companies that are looking for ways to take consumers for a ride. The state of California, San Diego and Los Angeles in southern California in particular, is home to many of these scam artists. Even smaller states like Oklahoma have their share of fraud cases and attorneys there are as busy as lawyers in the larger California market. If you are fortunate, you won’t be a victim of one of these disreputable dealers, but it is wise to be aware of potential scams before you head to the dealer. Here are some tips on dealing with auto fraud.

People with bad credit are often the victim of fraud at dealerships. They are easy prey, often due to the fact that they believe they cannot get financing. The worst offenses usually occur in the finance office, where the potential buyer often lets their guard down. One way to lessen the chance of being scammed is to show up with no trade and to have your financing done through your bank, with a bank draft in hand.

One of the most common frauds committed by car dealers and one that attorneys see frequently brought to them is the advertising fee scam. Dealers slip into the contract an advertising fee. Often times the advertising fee is on the factory invoice. Dealers add in a second advertising “fee” which becomes pure profit for them. The way to avoid it is to simply ask that it be taken off the contract. If the dealer tells you that the factory doesn’t charge them an advertising fee, have them show you the invoice. If there is no fee on the invoice, which is unlikely, it is okay for the dealer to charge between 1% and 3% of the Manufacturers Suggested Retail Price or MSRP for an advertising fee. If it does not appear on the invoice, then the fee is completely negotiable. If it does appear on the invoice, then that is a case of dealer cost and is not negotiable.

If you feel you are the victim of auto fraud, the best way of dealing with it is to contact a lawyer and learn what your options and rights are. If you have a good case, a lawyer will have no problem presenting your grievance to the court.

Rishi chawla has a informative site on lemon law. <A href="http://www.your-lemon-car.com">Lemon law help</A>-Offers advice and information for owners of defective cars.

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Buying A New Car
There are many things that you must consider when buying a new car. Most will have to do with the car itself such as what model to buy, the options you want to add, and the price of the car. However, there is one thing that it always pays to check out first, and that is, who are you buying the car from.

Dealers

Perhaps more important than the car you buy, is who you buy it from, what character they have and how they do business and treat customers. No matter what kind of car you are buying, it is possible that something will go wrong and you will need to call the dealer to fix the problem for you. If the dealer is honest and puts pride into satisfying his customers, you will have your problem solved quickly and you?ll be on the road, enjoying your new car in no time. If, on the other hand, he is only interested in getting paid and wants nothing more to do with you, then you could have a serious problem on your hands.

Be Aware

If you are calling a number of dealers to find out about the availability of a particular model, use the opportunity while on the phone to try and get a feel for the dealer. Ask yourself the question, ?is this someone I want to do business with?? If not, simply call another dealer.

If the sales person is in anyway impatient or pushy, perhaps you should be thinking about going elsewhere. If you are not completely comfortable in the environment then there is a higher chance that you are going to buy a car you don?t want, you?re not going to have a proper chance to weigh up all the advantages and disadvantages, and you are going to be reluctant to deal with the seller again if you have a problem.

However, if the dealer is relaxed and open, listens to your thoughts and needs and tries to help you find the car you want, there is a much better chance that you are going to leave with a car you actually want, and are not going to be pushed into making a rash purchase.

All purchases involve a personal relationship of some type between buyer and seller and there must be an element of trust if the transaction is to be wholly satisfactory. So when you?re thinking of the car you want, the financing, the insurance and all the other things that go with buying a new car, add to your list the salesperson and make sure you are dealing with someone you trust and are comfortable with.

Joseph Kenny writes for the loan advice and comparison sites <a href="http://www.ukpersonalloanstore.co.uk/">Loan Store</a> and <a href="http://www.selectloans.co.uk/">http://www.selectloans.co.uk/</a>. For the best <a href="http://www.ukpersonalloanstore.co.uk/compare_personal_loans.html">personal loans</a> the Loan Store have some of the latest offers.

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