Archive for June 29th, 2008
Auto Loan Calculators: Your Smart Choice!
The multitude of loans available in the market today has enabled even the ordinary man on the street to chase his dreams. For most of us, a luxury car is an ultimate dream! Such dreams do not appear to be so distant with the easy availability of auto loans in the present financial market. But under certain circumstances, your wish to drive your dream car or buy your dream house can turn into a nightmare if your monthly loan payment exceeds your expectations. Getting a good auto loan is not a matter of luck but of skill, where loan seekers need to take some wise decisions after comparing the terms and conditions of different lenders. Good auto loan rates are available but you need to know the tricks of the trade in order to get hold of them. Auto loan calculator is a smart tool that helps loan seekers to decide the auto loan they want to choose. This will enable them to have an estimate of the monthly payments to be made to the lenders. Most of the auto loan websites have online auto calculators that can be made use of without any extra charge.
Auto loan financing companies take various factors under consideration before sanctioning request for auto loans. Such factors generally revolve around the amount to be borrowed, the loan term, the repayment installments, insurance, credit details, income, the taxes and many more. As such, loan seekers need to have a proper evaluation not only of their financial strength but also of the different terms and conditions of auto loan companies. An auto loan calculator is one of the tools that can offer immense help to borrowers seeking to approach a good lender.
Auto loan calculators can be of great assistance once you are thorough with its multiple functions. It determines the monthly repayment installment of each loan including the capital repayment, interest ingredient, the payment protection insurance or the PPI and much more! The auto loan calculator utilizes the information fed by the borrowers when they provide answers to queries regarding the amount they desire to borrow, the period over which they intend to repay the loan, their household income, credit details and personal circumstances. When all this information is typed into the various fields in the calculator format, the calculator returns the details of various types of loans available along with calculating the monthly repayment installment. If the loan seeker wishes to go for payment protection insurance or PPI, its cost can also be included in the calculation where the borrower’s data exists in the calculating software. If a person has a bad credit history, the auto loan calculator generally conceals the names of lenders who would be unwilling to issue a loan to him for such bad credit score.
The advantage of auto loan calculators isn t just restricted to the above-mentioned points. Borrowers can also examine their complete amortization schedule. There are auto loan calculators equipped with graph options that enable the borrowers to make a comparative study how different loan terms or down payments can impact their monthly payment. Notwithstanding the benefits, loan seekers should always keep in mind that auto loan calculators also work as promotion-enhancement tools for the company. Users should be a little cautious while opting for their auto loans, as the rates provided might be inaccurate sometimes. So, it s prudent to use your auto loan calculator as a guide to make way for your smartest choice!
Suzanne Macguire is an Internet marketing professional with expertise in content development and technical writing in a variety of industries. <a href="http://smartcarcredit.com">Auto Loans for Bad Credit</a>
Key-Pointers When Buying A Second Hand Car
Buying a car from an individual or from a local car dealer is one tedious task if the objective is to purchase a second car that is still in good running condition. A buyer would never trade his hard-earned money with just a complete wasted used car. Whether new or used, when buying a car, it should be treated with the same importance and value.
There are things to take into consideration before buying the car and these are:
1. Educate yourself as a consumer
2. Prepare a list of your needs. Prioritize between the necessities and the wants.
3. Determine the budget and the kind of car that would best fit.
4. Make a selection by models and types. Narrowing them will be helpful.
5. Research both online and offline by dealers.
6. Know the value of the second hand car in the market.
7. Research the Vehicle Identification Numbers and history.
8. Take a mechanic when checking the car whether buying from a friend or a dealer.
9. Never shy away from asking questions.
10. If there’s a gut feeling about it not being good, don’t be afraid to walk away.
Bringing a mechanic along is always a good strategy. Make sure your mechanic inspects the totality of the car, from the history down to its last screw. It should be parked on a level spot. You should make certain that it was driven for about an hour. This should make it a good time to make the inspection. Always make it on a well lit surrounding and in broad daylight.
How to inspect it thoroughly:
Checking the exterior. Walk around to see if there is damage to the body. The corners of the car should be shaken and bounced up and down to see if the shock absorbers are still in good condition. Make sure that the wheel bearings do not make any sound when trying to pull the front tires by tugging them. Open the doors lift the hood and the trunk to see if all the rubber seals are still in place. This will also tell if there’s anything loose around the hinges. Check for signs of repaint. There will be difference in the color because shops can never duplicate the original paint of the car. Ask someone to turn on all the lights outside of the car and look if all are working. Cars with only 30,000 miles of travel must still have its original tires. Beware if you find a car with only a few miles of travel but has new tires. When the test drive is done, check the discs of the brakes, this should still be clean and smooth. Check the windshield for cracks.
Checking the Interior. Though it sounds odd, smell the insides of the car. Sniff under mats and the carpet. If it smells like mildew then it’s a sign that there is a leak somewhere or that the car may have undergone flood damage. Switch on the air-conditioning to make sure that it really turns the whole inside of the car cold. Next, try the heater. Try out all lights inside as well and never forget to blow the horn. Also try all the seat adjustments. The upholstery should still be in good shape too. There will be a lot more to check and here is where the mechanic can help the buyer.
Looking inside the trunk. Once more, smell the insides and check for any signs of leaks. Make sure that some basic car tools are still present for the new user.
Checking under the hood. Feel the wiring for any cracks or brittleness. Squeeze the hoses and the fan belt for any cuts and possible electrical tape patches. Do not take off the cap of the radiator until its cool enough. The greenish color indicates a good condition where the coolant is. Beware of stains and dirty-whitish color on the radiator. Again, let the rest be checked by the mechanic like the batteries.
Checking under the car. Lie down if you must and use an emergency light to see the engine underneath. Feel any signs of residue. Check the pipes and examine any possibility of heavy rusting.
Do the Test Drive. The owner or dealer should not stop a buyer from going over about twenty minutes of test drive. This is a special time to thoroughly look for any problems with the air-conditioning, heater, steering wheel, brakes, transmission, and most importantly, the comfort. Feel everything; it?s okay to try it on a hump or a slight bumpy road to really experience the performance. Listen carefully to check any rattles. Have a pen and paper, flashlight, gloves, magnet, towel, blanket and even CD or tape when checking a car out.
Gregory Ashton, your resident automobile enthusiast, bringing to you over 20 years of vehicular passion, and expertise; presents for your approval his insider secrets on selecting, buying, and maintianing the car that is ideal for you. <a href="http://www.best-car-buying-tips.com" title="http://www.best-car-buying-tips.com" target="_blank">http://www.best-car-buying-tips.com</a>
Good News About Bad Credit Car Loans
Almost half of all car purchases in America are financed. Couple this with that fact that 30 million Americans have credit problems and you see why there s such an interest in bad credit car loans.
While carrying higher interest rates than prime loans, bad credit car loans are not hard to get. Even people who have filed for bankruptcy can find a decent deal on auto financing if they shop around. It doesn t matter if they buy new or used.
Bad Credit Car Loans - Buying New
For peace of mind, safety and hassle-free driving, there s nothing like buying a new car. When you buy new, you have more control over optional features than if you buy a pre-owned vehicle. You will also get a new warranty that lasts much longer than the extended warranty you can buy for used cars.
The danger in buying new is getting upside down on the bad credit car loan. One way to avoid this is to have a decent down payment “20% or better. Another way is to choose a vehicle with high resale value. This will help slow down depreciation.
Depreciation is the difference between the Manufacturer s Suggested Retail Price (MSRP) when you bought the vehicle and what it s now worth. A $25,000 car will depreciate an average of 15% the first year and between 7% and 10% annually for the next two years. Cars with a prestigious nameplate hold their value longer and are less likely to depreciate faster than the car loan.
Bad Credit Car Loans - Buying Used
Buying a used vehicle makes sense if you want to keep your monthly payments affordable. Since used cars depreciate slower than new cars, they make better short-term collateral for lenders. However, some lenders will decrease the loan s term and increase the rate on bad credit car loans.
When you buy used, you have the chance to get a more expensive model than you could afford if you bought it new. For about the same amount, you could own a new Hyundai, a two-year-old Taurus, or a six-year-old BMW.
Getting a used vehicle from a private party will be cheaper than buying the same car from a dealership. Here are a few questions you ll want to ask the seller:
- How long have you owned the vehicle?
- Has the vehicle been in an accident or repainted?
- When are the next state inspection and emissions tests due?
- How often has the oil and filter been changed?
- Why are you selling the vehicle?
First Things First
With the ease of the online application process at sites like www.buyaauto.com, you can pre-qualify for a bad credit car loan before you start shopping for a vehicle. Make sure to borrow enough money to cover all the costs associated with the purchase such as dealer prep charges, if you are buying new, license plates, title and registration fees, etc.
Remember that total price is more important than the monthly payment. Stretching the length of a bad credit car loan will mean paying more interest. For instance, the payments on a $20,000 loan can be lowered from $500 a month to $360 by extending the term from 48 months to 72 months. However, this will cost about $2,000 more over the life of the loan, or 10 percent of the loan amount.
Mike Hamel is the author of several books and the Senior Writer for AIM Techs, an Internet marketing company that specializes in advanced SEM techniques and developing sites like <a href="http://www.buyaauto.com">BuyAAuto</a>.
Cleaning Tires for Appearance and Protection
You invest a lot of time and energy in keeping your car looking good. You wash it, polish it, and wax it. If anything gets on your vehicle, you ensure that it’s removed immediately. So, why let your tires go? Maybe the days of shiny rims and hubcaps are gone, but you can still keep your tires looking fresh without a lot of hassle. Why would you want to do this, you ask? (Or maybe your wife asks.) It’s along the lines of creating a complete package. It’s like wearing a brand new suit with scuffed shoes. Cleaning tires on a regular basis when you clean your tires has additional benefits other than simply making your car look good. It gives you a chance to keep an eye on your tires. After all, as the ad says, “a lot is riding on them.” Should you get a bolt embedded in your tires or an excessive amount of gravel become ground in, you’ll be able to address the problem before it becomes serious. Keeping a regular check on your tires can keep you from a dangerous situation when driving 70 miles per hour on the freeway during four-lane rush hour traffic. A clean tire product can also add additional protection to your tires by protecting them from the elements. Think of it as a wax for your tires. Just as you protect your car’s finish with a good wax, a cleaning tire product can keep your tires in better shape that they otherwise would be. To keep your tires looking fresh, use a product specifically designed for this purpose. These products will keep a shine on your tires longer than an ordinary cleaning product. Prior to using a tire shine product, consider cleaning tires with a specific tire sidewall-cleaning product. When combined, the products can create a classy looking, fresh off the lot look. Prior to using a cleaning tire product designed to add shine and protection, give your tires a good clean. A high-powered sprayer can be used on the tires, wheel wells, and hubcaps to remove any built up dirt and grime. If necessary, a scrub brush can be used to remove mud build up. Look for a stiff-bristled brush made of plastic rather than metal. Even though tires are very rugged, there’s no point in scratching them with a wire brush. A screwdriver or other such tool can be used to pry out pieces of gravel; however, for large debris that is deeply embedded, take the tire to a specialist to have it reviewed for punctures and repaired if necessary. Be sure to check the wheel well thoroughly as well. Embedded debris can stay put and leave room for the elements to enter and lead to rust. When cleaning tires, be sure to follow the directions on the product label, as not all are used the same way. Most are available in the form of an aerosol can and are extremely easy to use . The result is a clean tire with an added shine. In general, most should be applied to the tires and then allowed to sit for 12 to 24 hours. After sitting for this time, use a soft terry cloth rag to wipe the tires, which will remove any excess product (you don’t want it sprayed up onto your car’s finish when you drive). Keep in mind that some products do not require that you wipe them later. Some cleaning tire products give tires a wet look shine, which can really add some pizzazz to your car’s appearance. Your tires will have a brilliant wet shine look that can give your car the appearance of being much newer than it actually is. In addition to properly caring for your cars tires, you can increase the life of your tires by choosing quality tires to begin with and having them rotated on a regular basis. Make sure you purchase the appropriate tires for your size of vehicle and that you use the right kind of tire during the winter and summer months. Your location will determine whether you need snow or rain tires. Ensure that the air pressure is maintained at the manufacturer’s recommendation for the tire and your vehicle. When you have the proper tires for your vehicle and your needs, you’ll have additional peace of mind. Then, of course, keep them clean with a cleaning tire product so that they’ll keep that “new tire look” for as long as possible. Visit http://www.fuller-brush-products.com
Author Vincent Platania represents the Fuller Brush Company. Fuller Brush has been in business since 1906, and offers safe, environmentally friendly products for keeping your home and your body clean. Visit <a href="http://www.fuller-brush-products.com">http://www.fuller-brush-products.com</a>
Buy the right car for your teen driver
The generation gap that exists between a teen of driving age and their parents is a doozie, making car shopping for your teen driver an experience not soon forgotten. However, if you do your research, chances are you will be able to come to a mutual agreement on something that is affordable and safe enough for you and cool and economical enough for them.
Options that are parent tested, teen approved
These options offer good gas mileage, and an affordable price tag without sacrificing safety or style.
Shopping with your teen
Bottom line, you as the parent need to steer the shopping experience. Research your options and narrow down your field. Decide on several vehicles you are comfortable with and then start your physical shopping and test driving.
Allowing your teenager to feel like they have a say in the decision may just help preserve some harmony in the transaction. If you’ve already narrowed the field to appropriate options, drive them and allow your teen some room to make an adult decision themselves.
Instead of walking away from your car shopping experience with post traumatic stress, walk away feeling like you set a good example and helped lead your child in an adult decision.
<b>About the Author:</b> My name is Paige Filler and I'm a creative writer with a love of all things that go vroom. I do my homework to bring thought and innovation into everything I write about the auto industry. You can find more of my stuff at <a href="http://www.cash4usedcars.com/" target="blank">Cash4UsedCars.com</a>, and <a href="http://blog.cash4usedcars.com/" target="blank"> our blog.</a>
What Exactly Is Dealer Invoice?
My first answer to that would be who really knows? It s a very elusive term thrown around by about all the car manufacturers and car dealer s marketing departments. You know after many years in the business, I m not sure I could tell you precisely what true dealer invoice or what is termed dead cost is on any particular vehicle. I m sure the owner or the ownership group could somehow calculate this elusive dollar figure but most of us humans will continue to search for the ever elusive animal we refer to as dealer invoice. To say this term is a bit misunderstood is a rather large understatement. Maybe that s why it works so good for the folks in the marketing department. Many potential car buyers assume that what they uncover on the internet is the car dealer s invoice price. Well, not really. It s certainly one heck of a lot closer than checking the MSRP of a give vehicle, but it probably isn t going to be dead cost . You hear it all the time. In fact right here where I m at there is a local dealer that says all you ll ever pay is $50 over factory dealer cost; and they have been selling cars this way since day one oh so many years ago. I guess it shouldn t, but it really baffles me how this works on the consumer. Just do the simple math; if this dealer sold 300 cars a month (about 10 cars a day!) times $50 over factory cost (the inference here is that you are paying $50 over what the dealer gets the car for) this dealer would be grossing $15,000 per month on new car sales. I can unequivocally tell you that this would never cut the mustard! Think about it $15,000 a month and this dealer hasn t even paid rent, utilities, insurance, salaries, benefits, and on and on. So, $50 over factory invoice not hardly. So what is it then this thing car dealers call cost or invoice? Well, it s a bunch of numbers being added ” subtracted ” multiplied ” and divided before anyone knows the dead cost of the car for the dealer. What s a consumer to do? Getting out on the internet and doing your homework is a very good start. The exercise of comparing the information you gather is a good one and is to your advantage if you want to start your negotiations at invoice price. Which, by the way, you NEVER negotiate from the sticker price down. While doing your research on dealer invoice prices it s important to make certain you are comparing exact features and option packages to one another. This will at least give you baseline comparisons with which to work. All car dealers receive different incentives from the manufacturer; factory to dealer ” marketing incentives ” dealer holdback, and on and on. The fact that much of this is not disclosed is why it is very difficult to come up with dead cost for the car dealer. For instance, in the case of dealer hold back; the dealer doesn t even get this money until after the car is actually sold. There are other expenses that the dealer has that are applied to the overall cost of a particular car, including how long a particular car has been sitting on the lot. You see the dealership finances their inventory and as such pays interest on this financing so a car that has been sitting on the lot for some time has cost the dealer more than the ones that they are just unloading from the truck. As you can see, there are too many variables to any particular car at any particular dealership to know exactly what the dealer has put into a car in terms of cost. However, as we talked earlier, doing your research on the invoice price is a good place to start. Just don t stop there thinking you have all you need and don t need to do any further negotiating on the selling price. Purchasing cars and negotiating is almost synonymous. Getting a good feel for the invoice price is just a starting point. Now it s time to roll up your sleeves and work on getting the best possible price you can.
Jeff Neilan worked for many years in the automotive industry as a salesman, finance manager, new and used car manager, and general sales manager. With Jeff's working knowledge of car dealerships, car sales, and financing you'll find his articles on getting your best car deal insightful and rewarding when purchasing your next car. Please visit http://www.acarbuyersguide.com for more of Jeff's articles.
Car Loans
Buying a new car is one of the single biggest purchases most people are likely to make in their life. Other than their home and maybe their education, there is not really much personal expenditure that can compare in size to the purchase of a new car. Therefore it is not surprising that most people cannot afford to pay for a car outright. This is so even if they have a very good income. It is a simple fact of life that to buy a new car, most people will need to use a car loan to do so.
If you are considering taking out a car loan to finance the purchase of a new car, then you should make sure you are completely aware of all the financing options that are available to you so that you get the best deal available. It is highly likely that to car dealer that is selling you the car will have some sort of financing options available to you. This may be in the form of a loan to purchase the car or leasing options that are also available. You should be clear of the vital difference between a loan and a leasing arrangement. With a loan, you are borrowing the money so that you can purchase the car. With a lease, you are only paying for the use of the car, and at the end of the leasing period, you simply return the car and that is the end of the arrangement.
There are some leases that will give you an option to buy the car at the end of the leasing period. If you borrow the entire amount for purchase of the car, it is likely that your monthly repayment amounts on the car loan will be higher than those for a lease, this is because you are paying for the full price of the car and at the end of this time, after you have made all the repayments on the term of the loan, you will be the owner of the car.
There are a number of factors that you should look at when deciding which car loan to opt for. First of all, you should know that you do not have to accept the financing options that the dealer offers you. You can also shop around with other lenders, such as banks, and make sure you get the best deal on offer. Car loans are expensive and you should be willing to look into the various options that are available before settling on any one option.
Peter Kenny is a writer for creditcards-gb For additional articles and an extensive resource for everything about credit cards, please visit us at <a href="http://www.creditcards-gb.co.uk">http://www.creditcards-gb.co.uk</a> and <a href="http://www.creditcards2go4.com">http://www.creditcards2go4.com</a>