Car Tuning,Car Finance,Auto Loans

Archive for February, 2007

Refinancing and Car Finance – Is it Worth It?

No doubt you have heard of refinancing your mortgage. It has become all the rage, but now you can also refinance your car loan.

You stand to save several hundred dollars over the term of the loan.

My take on it is go for it. Competition is healthy and it will keep the finance companies on their toes providing better service for all. There’s just one thing to be careful of online:

Just make sure you go with a reputable company. There are car finance companies on line these days such as E-loan or Capital 1, which are proving themselves worthy adversaries to the standard brick-and-mortar loan companies.

It’s not hard to see why? Simply apply from the convenience of your home rather than trudge all the way into some downtown office and line-up in a queue.

It’s even better than on the phone, because you can send your application in and forget it. Before you blink you have an approval or not. If you don’t, then you can simply find another one.

You can start off with a higher interest rate if you have bad credit and then refinance to a better rate later on.

Be sure to read all the terms and conditions and check with your accountant or financial advisor before making financial decisions.

Car lease finance is a great option for anyone who needs a car for employees or business use, or who lacks the finances to make an upfront payment on purchasing a car for their business.

Many however fail to see the point of car lease finance and point out that all that money is essentially ‘wasted’ as they have nothing to show for it at the end of the loan. Of course everyone hires cars when going on holiday and this makes a lot of sense as a way to get around the area you’re visiting and avoid understanding public transport systems in a foreign language. Leasing a car rather than owning one however is a different matter, and one that not everyone fully understands as after a significant amount of time they could likely have almost purchased the car themselves. However this is a rather short sighted view, as a car lease finance saves a lot of money in other ways too.

With a car lease finance you save yourself money on tax, on insurance (if it’s a good loan) and on depreciation. If you don’t have much capital to invest in a new car, then chances are you’d likely buy an old car with a lot of miles. That means that you can expect to pay for a car that has been well used in the past. Add to this tax and insurance (often you do pay insurance, but it’s provided by the car lease finance company and included as one payment for a cheaper price) and you’re looking at up to six months before your leased car has really made a dent in what you would pay for a new car – not counting the cost of the car itself even – and of course none of this money has anything to ‘show for it’ at the end either.

This becomes particularly important when you only need the car for a short period of time. If you just need the vehicle for a few months, then you’ll find that buying a car of your own, even second hand, is much more expensive and a lot more hassle and really isn’t worth it if you intend to sell or scrap the car at the end of the same time period.

A car lease finance has another bonus too – in that by saving money on not buying the car or paying for the insurance you’ll be able to choose a far nicer and newer vehicle than you otherwise would be able to. Drive around in a Mercedes and you’ll get a lot of looks, and no one will need to know it’s not yours. Of course if you want to cut the price even more you can hire an older car and pay less.

Looking for the best deal on your car lease finance then is important and there are a lot of things you need to consider before you sign a contract. First of all make sure that as stated above you won’t be paying any bills yourself. Good car lease finance companies will cover you on the insurance or provide it themselves for a cheaper price and should obviously cover tax and servicing. Of course you will likely also want to look into the exact vehicles they have on offer, and if you’re going to be using the car for an extended period of time you will want to have a test drive to ensure you like it – just as you would with a car you owned.

Of course you also need to look into rates and premiums, so check the competition and look at price comparison websites before you make a decision. Many of these allow you to enter your details and then bring up the best option for you to ensure that you get a deal that suits you and your budget.

Have you recently made an attempt to get an auto loan and were denied? If this is the case then it is likely that you were denied your request for a loan due to bad credit. Of course with all of the fancy terminology that loan officers often use they may have said something like, they only grant loans to prime borrowers and unfortunately your credit score places you in the sub prime range. Many people are not familiar with what that exactly means but are certain that it isn’t good.

Basically, sub prime means that you have bad credit. While you are not going to get a loan from this particular lender it doesn’t necessarily mean that no one will give you a loan. Every lending institution has its own factors that constitute “bad credit” but you are teetering on the very edge if your credit score is even 600.

Perhaps the good news is that there are lenders who stay in business by extending loans to people that fall into the sub prime category. The deal is that they will loan you money to buy that new automobile but in return you are going to pay a higher amount than someone with good credit would pay.

That doesn’t, however, mean that you have to get raked over the coals. There are some things that you can do to ensure that you get the best price that is possible for someone with bad credit. First of all, get a copy of your credit report! ALWAYS stay on top of your credit information by using all 3 credit bureaus. Request a tri merge credit report. Know what your credit report says and make sure that what it shows is correct. Dispute all inaccuracies!

If the credit bureau cannot verify the inaccuracy within 30 days, they have to delete it from your credit report per the Fair Credit Reporting ACT. You can also shop around for the best lender because they are not all going to offer you the same deal. Maybe even consider securing a loan prior to visiting a dealership. The other alternative that you have is to see if your credit score can be brought up with a bit of work. This may mean postponing your auto purchase for a few months but it really would be worth it for the savings that will be involved.

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Taking on personal debt takes serious consideration and time to shop around and compare fees, grace periods, repayment schedules, and overall quality of service. Understanding available personal debt options can help you select the best type and the best lender for your needs. Secured financial obligations, such as second mortgages and title car loans, offer the lowest interest cost, while unsecured debts, such as credit card cash advances, payday, and signature debts can only offer convenience. Online title loans and mortgages keep rates low because something of value is offered up as collateral.

Personal borrowing can be a lifesaver in difficult times. Unexpected bills, layoffs, and other emergencies can feel overwhelming when the money is not available. Taking the time to evaluate your options can save you thousands of dollars and countless hours of stress and worry. Title car loans are one of the simplest ways of getting cash fast at a low cost. They use the value of your car to secure these low rates and facilitate fast approval. Before taking on any sort of financial obligation, it is crucial that you are certain you will be able to pay it back.

High Priced Payday Advances

Payday cash advances are, by far, the most expensive way to borrow money. Calculated over a year, their interest charges easily reach 300%, as opposed to recent mortgage rates of 4%. Also, payday advance companies often charge extra fees, membership dues, and penalize you for repaying the debt early. Many people use them because of the perceived convenience, but online title loans offer nearly the same approval speed, often within an hour, and at a profoundly lower price. Clearly, the convenience offered by payday advance companies is not worth the high price they charge.

The Convenience Of Credit Cards

Credit cards provide limitless shopping convenience, both on and offline. Tantalizing introductory offers and flashy advertising make credit cards appear to be a normal part of the modern marketplace. As most people have learned, those introductory rates eventually expire, and one missed payment can turn convenience into a financial nightmare. While credit cards are convenient for shopping, they are not a good choice for borrowing cash. Higher interest rates, cash advance fees, and a lower amount of available credit can easily turn into a maxed out card with even higher rates. Many card holders are not aware that advances are not paid until all purchases on the card are paid in full. This means higher interest rates run longer for a higher total cost. Online title loans are a financially responsible way to get the money you need without creating more debt than you can handle.

Traditional Signature Loans

Signature debt is what most people think of when they consider going to a bank to borrow money. A debt agreement is signed, and that signature is the only guarantee the bank gets, which means it must charge higher interest rates. This method also requires time to process the application, and a bad credit history or bankruptcy generally disqualifies you. Online title loans do not require a credit check because the value of your car is used to guarantee the debt and applications are generally approved within 60 minutes, since the car’s value is the determining factor, not your past.

Home Sweet Home Equity

Home equity debt, also known as a second mortgage, has been a standby for long-term investment, home improvement, and college tuition needs. The application process is longer than for unsecured debt and the repayment schedule is spread out over many years. There can be tax advantages, but each year is different.  The problem with second mortgages in today’s housing market is that many families have not built up enough equity in their home to borrow against, or the home is not worth as much as is owed on it, making it ineligible as collateral. Online title loans use the same principles of reducing risk with collateral for fast approval on low interest funding.

Title Car Loans To The Rescue

These secured debts simply use the value of your car as collateral. The car is still available to get back and forth to work and for shopping, but its value is put to work for you financially. This means that your application can be approved as soon as ownership of the vehicle, residence, and insurance are verified, often within 60 minutes. No trips to the bank, no outrageous rates or fees, just a simple, straightforward agreement that benefits everyone involved. Fast, convenient, and affordable, title car loans can help you when you need it most – now.

If you want the best out of your vehicle in terms of fuel efficiency, follow these simple guidelines and notice an immediate increase in mileage or MPG (Miles per Gallon) of your car.

Drive at recommended speeds – Driving at a constant recommended speed means less slamming of the brakes and fewer press/release sessions with the throttle (accelerator). This is the key to fuel efficiency. Remember that fuel consumption is more in both cases whether you are accelerating at low-speeds using low gears or at high-speeds using high gears. The key to peak mileage is to keep the vehicle speed constant at top gear by driving within a speed range of 28 m/hr (45 km/hr) to 38 m/hr (60 km/hr) in the city and around 55 m/hr (90 km/hr) on the highway.

Maintain tire pressure between recommended levels – Under-inflated tires can decrease the mileage of your vehicle by as much as 5% in a month. That is a telling figure considering the amount of fuel you can waste just because the tires on your car don’t have the correct pressure. Less pressure in tires means increased rolling resistance and increased traction resulting in more power requirement and load on the engine to propel the vehicle at the cost of more fuel. Check tire pressure at least once a month and maintain it within recommended limits for the best mileage.

Service your vehicle at regular intervals – Plan your car servicing as per the usage and the drive conditions and do it after regular intervals to maintain a well-tuned machine. Engine oil changing and tuning, minor repairs, greasing and cleaning of major parts of the vehicle can drastically improve the fuel efficiency. A well maintained car engine means less consumption of fuel, better performance and fewer emissions.

Limit the use or Air Conditioner – Use the car air conditioner sparingly since it uses fuel to cool your car-cabin. Switch it off when it is not needed. In case you drive in hot conditions, make sure you service the air conditioner regularly to keep it in peak condition. You can avoid using the air conditioner by always parking your vehicle in shade.

Plan your trip and Car-Pool – No other option compares to this one in terms of fuel efficiency. You definitely save fuel when you drive less. If you plan your trip before setting off and drive to destinations along the shortest possible routes, you can save both fuel and time.

Car-Pooling is modern man’s answer to fuel crisis and deteriorating environment. If you have a group of people who travel the same route as you do around the same time of the day using their own vehicle, you can all combine and travel in a single vehicle everyday instead of using individual means of transport. Usually the vehicles are shared on a rotational basis.

This way we can reduce the number of vehicles on the road at one time, save fuel and do a bit for the environment as well. Now you know that increased car mileage is just 5 steps away.

Classic car transport is a large branch of car transport; it is a specialized field that includes car transport companies that are dedicated to the transport of antique and vintage cars. Most trailers used for the safe and efficient transport of classic cars are specially designed for smooth travel and protection from road and weather.

Classic car transport companies usually employ only professional drivers who are experienced handlers of antique and exotic cars. Some popular trailer options for secure classic car transport are: six-car enclosed trailers, four-car enclosed trailers, and two-car non-stacking enclosed trailers. Most auto transporters of classic vehicles will offer delivery from door-to-door or delivery to the customer. Most classic car transport companies will accept non-running vehicles.

When you are searching for a classic car transport company, ask if classic and vintage vehicle transport is their main activity or a sideline of another business. In addition, find out if they contract out transport to third parties. Make sure when you are investigating car transport companies that classic vehicles are their main focus. To safeguard your interests, also make sure they carry the best insurance coverage available.

Many classic car transport companies will design an itinerary exclusive to you, this allows for greater flexibility on times of pick-up and delivery. Additionally in-transit contact between office and drivers through cell phones is a service that most classic car transport companies will provide as part of the basic transport service. Winching is also available at a modest fee.

Many classic car transport companies offer worldwide vehicle transportation solutions to individuals. These classic car transport companies specialize in reliable, proficient service with frequent departures from major U.S. ports. Normally you will be assigned a very experienced customer service representative to insure the safe convey of your car.

Classic car transport companies use various methods to move your car long distances, such as flatbed truck, enclosed single trailer and enclosed rail service. Your car will probably travel flat without being tied down by chains. Easy and safe loading on custom built covered trailers with full lift gates is usually a standard and most classic car transport companies have tie-down systems that provide security without harming your vehicle. Airtight sanitary environments and full air equipment for smooth travel are other popular available options. Custom equipment designed to meet your needs is often available upon request.

It should not be difficult to find a classic car transport facility with a professional crew of mechanics and maintenance people who maintain an exceptional fleet of opened and enclosed transports to fit your needs and budget. Just knowing the basic facts about classic car transport will make finding the best company a sure success.