Archive for September 20th, 2009
First Time buyers, bad credit auto loans, bad credit car loans,no credit car laons
How to get approved when you have no credit.They teach a lot of things in schools but one thing they don t teach is how to get a loan when you don t have any credit. So picture this you 18 years old you just graduated from high school and you need to get a car so you get to collage and your job what do you do. Well you might think do I get a cosigner? Do I buy car cash? Do I go to every dealer in town to try to get a car loan? Well you if you have a cosigner then go ahead and use them, but if you don t what do you do? You need to go and pay cash or hope you don t get declined by every car dealer in town. You can do this be smart about starting you credit and make a plan before you run out their and make a mistake and get a car you can t afford on a interest rate that is to high and end up not be able to pay for it. If you want the best chance of getting approved you what to make sure you have got a job and have been on that job for at least 1 year. If you have been on your job for less than 1 year you are going to need a previous form of employment and preferable in the same field.Once you have figured out that a job is important to getting loans prepare yourself to prove your income. We you get ready to prove your income you need to have a computerized pay stub and maybe even a W-2 form from your previous one to two years income if you have been on your job that long. If you don t have a computerized pay stub then you need to get copies of you cancelled checks from payroll and or letter from your employer stating your start date on your job, position, and pay rate. Once you got the proof of income taken care of you need to make sure you have some money down. The more money that you have down the better chance you have of getting approved for a loan and also the lower payment you will have. When a bank lends to a first time buyer or a consumer with no credit they like to see some sort of investment on the consumer behalf. The banks feel that if a consumer is buying the car with no credit is willing to invest some of their hard earned money in the car that they apply for a loan for then they will be more like to pay for that car.Once you have got the down payment taken care of then you need to be reasonable about what type of car you are going to buy. This means a car around ten thousand dollars. Make sure the payment is around 15% percent of you gross monthly income. You may be able to get a little bit more expensive new vehicle through a first time buyer program with manufacture. One manufacturer that has a first time buyer program is Ford. If you need a reputable company to put you in touch with a dealer that can get you approved on a first time buyer program check out http://www.shotcredit.com.Best of luck getting your new or used vehicle hopefully you take you no credit to good credit instead of bad credit. Paul Armstrong is finance professional with 10 plus years of experience in auto industry. During his time in the auto industry Paul has focused on helping customers with bad credit obtain auto loans when no one else was able to. Focusing on the sub prime auto market has been a 10 year pursuit to educate himself in the intricacies of how to get customers approved with recent bankruptcies, prior auto repossessions and overall horrible credit.
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Is it safe to buy a rental car?
When you are considering buying a used vehicle, it is important to cover all of your bases and take all options into consideration. Most people don’t even think about the buy a rental car option. It is an option with many pros and cons and it is worth it to factor them into your used car purchase decision. Rental car purchase prosFirst things first, as a used buyer you know where this car is coming from. Chances are the car has been kept clean and well maintained during its life as a rental. Any rental service that sells their cars should be able to offer you maintenance records to back that up. In fact it should be insisted upon to ensure that the car has been properly cared for. Pricing is another attractive factor if you want to purchase a rental car. Many of the cars rental agencies will offer for sale are less than a year old and have less than 25,000 miles on them. Do not be suspect when you see a newer model for sale, it does not necessarily indicate that the vehicle is problematic. Rental companies are able to purchase their vehicle at the bare minimum fleet pricing, enabling them to re-sell at very competitive prices. Another pro is the possibility of a warranty still intact with a purchase through a rental car company. Because they generally sell them within a year of purchase and at a reasonable mileage, there is a good chance that there will still be some time left on the manufacturers warranty. Giving the new owner a little peace of mind, especially when you consider the cons of purchasing a rental car. Rental car purchase consAnyone who has rented a car has probably heard this joke, “What’s the difference between a rental car and a 4X4? A rental car can go anywhere!” It’s funny when you rent a car, but when you are looking to buy a rental car suddenly it’s not so funny anymore. This being the biggest con of them all, people are hard on rental cars. The rental companies have no idea what the car actually endures while in the care of the individuals it rents to. Of course they will assure you that the car was not mistreated, but again, anyone who has rented a car knows the kind of abuse they can take. Generally the rental agencies will inspect the car upon its return to their lot to ensure that there has been no damage. However what is reported at that point is largely cosmetic, and while aesthetics are important, it’s what’s inside that really counts. If you are considering purchasing a rental car, be sure to take it to an outside, unaffiliated mechanic for a through inspection to ensure that the vehicle has not suffered mechanically at the hands of an thoughtless renter. As far as cons go, the vast unknown is really the one to worry about. While cosmetic issues are important, mechanical soundness is truly the bottom line with any used car purchase. Bottom line a good optionWhen purchasing a used vehicle, the rental agencies offer a viable option for purchase. Contrary to popular belief previous rental cars can be a great investment for anyone looking for a suitable used vehicle. Having access to maintenance records is a huge plus, and all things considered every vehicle they buy is the rental companies bread and butter. It is good business sense for them to keep them in tip top working order. <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">Cash 4 Used Cars</a>, and <a href="http://blog.cash4usedcars.com/" target="blank"> this blog.</a>
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What’s up with Hybrid Vehicles?
If the price of gasoline has got you scared, and you’re thinking about maybe trading in your car for a moped, you’ve got half the solution right. It might be time to trade in your car, but forget the moped — get a hybrid car instead. The dictionary defines the word hybrid as: Offspring resulting from breeding between parents of two different species, and that’s a good definition for our purposes. That’s because a hybrid car has a power plant that’s a cross between a gasoline powered engine and an electric motor. What’s the big deal about hybrid cars? The automobile industry claims that a hybrid car can give you as much as 20 to 30 miles per gallon more performance than a standard gasoline engine. That means that you buy less gasoline, and buying less gasoline leaves more money in your pocket. You’ll need that extra money, however, because hybrid cars are still relatively expensive compared to traditional gasoline-powered cars. As more hybrid cars are sold, manufacturing prices will drop, and that drop will be seen in the selling price. How does a hybrid car save gasoline? In a typical automobile, the engine is connected to the transmission via a mechanical link called the drive train. When the engine’s sparkplugs fire, they ignite gasoline vapor which pushes a piston up and down. This piston movement gets transferred to the transmission via the drive train. The transmission turns the wheels and the car goes down the road. Well, the hybrid car is almost exactly the same except that in addition to the engine being connected to the transmission, an electric motor is also connected to the transmission. Actually, there are two different versions of hybrid cars. The one that was just described is called a parallel hybrid, because there are two different energy sources connected in parallel to the transmission. The other type of hybrid car is called a series hybrid because the gasoline engine works in series with the electric motor to power the car. This is accomplished by having the gasoline engine either charge the car’s batteries, or power the electric motor. The gasoline engine doesn’t actually turn the car’s wheels at all. The parallel hybrid operates off of the electric motor when the car is being driven below a certain speed, and the gasoline engine kicks in when that speed is exceeded, or when sensors in the car indicate that the driver has accelerated suddenly as if to pass or to avoid an emergency situation. Of course, the gasoline engine is always running even when the electric motor is powering the car, so some gasoline is always being used. The series hybrid is always running off of the electric motor, which restricts the top speed of the car, and the gasoline engine only kicks in when the batteries need to be charged. Like all automotive claims, your mileage may vary. Even so, if you’re looking to spend less money at the gas station, and avoid much of the effect of rising gas prices, you might want to park a hybrid car in your garage. Diane Nassy is the founder of <a href="http://www.save-on-gas-prices.com">http://www.save-on-gas-prices.com</a> . Visit her website for great tips on ways to save on rising gas prices. Email : <a href="mailto:httpdeeljeabiz@gmail.com">deeljeabiz@gmail.com</a>
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