Car Tuning,Car Finance,Auto Loans

Archive for November, 2009

Because most people don’t have cash to buy new cars, it is often a choice between leasing and using an auto loan. We will further analyze the benefits of each type of car finance option. The choice that you make will heavily affect your income over the next years. The first thing you should realize is that the decision of buying with cash or lease doesn’t involve just the money aspect, but the time aspect as well.

The car finance option you choose depends on the importance you give to owning a new car. If you value having the latest models on the market, then this will justify spending more money on this privilege. If your view of a car is orientated towards transportation and comfort (you want a car for practical reasons), then owning the newest model should take a few steps back on your priority list. You should think about these facts first and then consider the more tangible issues of car finance options.

The car finance deal that you are going to make starts when the salesperson asks you what kind of car finance option you want to use. Your answer can be one of the following: buy the car, lease the car or pay cash for the car.

If you want to buy the car, the dealer will ask you to fill in a credit application based on your credit scores. An auto loan will be arranged through the dealership. This car finance option usually is a 36-60 month endeavor. The longer the time the lower the payments will be. The amount of money you pay for this car finance option depends on your interest rate, down payment and total sum of loan. Also be careful, as the dealer will want you to make a large down payment. This car finance deal is based on the fact that, until you pay for the vehicle, the lending institution will own the car. The car’s ownership papers will be sent to you after all payments have been made.

There are some important aspects about car leasing that make it attractive to customers, such as: low monthly payments, low down payments and low maintenance costs. The main advantage is that a customer will get a car without giving too much money at once. The monthly payments are kept at a low level, lower than buying car with an auto loan. Another benefit of this car finance option is that the car will have a 3 year warranty and will be covered for mechanical failure during this period. As you can see by now, this looks very attractive and affordable by anyone, but there is a slight disadvantage (the same as in the case of a loan). You will have car payments until the entire sum of the car is paid. Only when you do this, the car will finally be yours.

From this point on the car finance deal will be over and if you have to begin leasing again the assumed responsibility of payment rates will last a long period of time again. The conclusion is that this car finance option (using the leasing method) is more expensive on a long term. Car leasing is actually the most expensive way to go, but those who favor it point out that over a 10 year period this car finance method is the best the average income customer can support.

If you are interested in leasing, this car finance option has some variations. All auto leases allow you to drive the car for a limited number of miles per year. The more you drive, the higher your payments will be. However, if you come to think of it, you save money in the long run. The contract will contain a residual price for the car, which you will pay at the end of the lease as the car passes into your possession. Be careful because this is the riskiest car finance deal of them all!

If you decide to pay cash for the car the transaction everything will be very simple. This is the most favorable car finance deal if your income can support such a large transaction. Negotiating with the dealer will most likely make this car finance option even more attractive. Choose wisely as every car finance offer has its own ups and downs, and every car finance company will try to persuade you into taking their option into account.

When buying a car, a lot of money is involved. Depending on the budget you are willing to spend there will be a car finance option to your liking. A compromise has to be made: one can either spend a lot at once, or spend a greater sum during a longer period of time. Your car finance option will affect your pocket anyway; it’s just a matter of how much money will be given in how much time.

During the recent years, loan industry has built a rather notorious public image. Although the operation of car finance brokers is regulated by Financial Services Authority and overall customer satisfaction has increased, there are always somebody looking to break the rules. February 2011 marks a new milestone for finance customer safety – the new Standard European Consumer Credit Information (SECCI) guidelines are introduced. It has been brought into existence so that consumers would have a better understanding of how, when applying for finance, their credit file is affected. It is hoped SECCI will help with financial decision making.

The new legislation is made up of five main parts. Companies that offer car finance will now have to follow what is laid out by the SECCI. Previously, some disreputable lenders had been known to exploit poorer customers.

1. An individual has a right to an SECCI quotation presenting the finance options that are available to them.

2. If a consumer’s request for finance is rejected, the lender or broker must state which credit agency was used for the report. So, a person can go back andreview their credit file.

3. The consumer will receive an SECCI application pack. The pack will contain pre contract information so that the consumer is fully aware of the details of the car loan. This now includes a 14 day cancellation period to ensure no-one is forced into unwanted deals.

4. A document explaining the new legislation must be presented to the customer. This will explain their rights and options.

5. When a car loan has been issued, the lender is obliged to send out an information pack outlining details of the cancellation period, the full terms and conditions of the loan, and information on interest rates.

Consumers will have far more protection under the new European directive. In times gone by some small brokers would put forward a customer to several lenders to get the finance put through. The SECCI will help prevent this practice as consumers will be able to see the whole finance approval process and how their credit rating has been affected. Normally, no financial footprint is left on credit file.

Also, in the past, many car finance deals were not cancellable once signed, so the consumer had no time to change their mind. So, in this respect the consumer will have more protection with the 14 day cooling off period.

The new legislation will allow the consumer to get the best deal possible with greater clearness throughout the process. More information is provided resulting in a more transparent decision making.

Caffeinated Content

One of the best things you can do for your car audio system is to properly tune it. There are several variables to consider when doing this, and I am going to walk to through the most important ones so you will have a good understanding of how to get the most “bang” for the buck from you system.

Assuming you have an amplified system with one or more subwoofers, you can dial in your system to give you the best sound and have the durability you want from it. It starts at the head unit. You want a head unit with a good, strong output signal, between 4 and 5 volts on its pre-outs. Audiophiles tell us that 2-3 volts of good clean signal is good too, but that will require a little more amplifier power to get the decibels we’re looking for. You also want a head unit with an adjustable subwoofer level. Start by tuning the stereo without the subs on. Add your bass and treble until you get the desired sound with minimal distortion at the loudest volume setting you will listen to it at. This is generally about 2/3 max volume.

Once you are happy with the low/mid/high sound from the multi-range speakers, we can add in the subs. If applicable, tune the sub outputs to about 2/3 maximum, and head to the amp. Start at the amp and adjust the frequency and the level to minimum, and turn the volume up to the the same loudest point we were working with earlier. Pull your frequency to about half way, and slowly adjust the power level upwards. If you hit the zone you want, stay there. Keep in mind, this is only a safe adjusting technique with a speaker system that matches the power output of the amplifier. If you want more from your system, incrementally adjust the frequency down slightly with the increases in power level.

Your goal is to get a loud, clear bass from the subs that DOES NOT CLIP OUT under the loudest conditions you anticipate. If the amp clips out, then adjust the power level lower until it is back in the safe zone. Once the system is set where you want it, don’t mess with it. Leave the levels on the head unit and the amp alone. The mistake I see with blown speakers and amps is trying to show them off with all the levels maxed out. This produces a lot of power at a high distortion level, which is damaging to the speakers and the amplifier. If you want a louder sound than what you have by tuning your system this way, it may be time to upgrade.

Keep these guidelines in mind when configuring your systems, and you should be able to build a car stereo system that will sound great and have great durability. Good Luck and stay TUNED!

Copyright (c) 2009 Liz Roberts

Car loans and bad credit have one thing common- both are in great demand by many people. Yes, a lot of people in need of car loans cannot qualify for standard loans because of their bad credit. Some people just got discharged from bankruptcy while others may be dealing with foreclosure or repossessions. Then again, there are people who suffer a low credit score because of frequent late payments with their creditors.

If any of these situations sounds familiar to you, what can you do? Can you still get the car loan you need despite a bad credit history? And the answer is yes, you can still get the car financing help you need even with bad credit.

It is a relief to know that there are lenders who are willing to extend financing assistance for people with poor credit. Bad credit car loans are especially designed for borrowers with unimpressive credit history, and yet who are willing to take charge to rebuild their credit and regain good reputation.

Bad credit car loans usually do not require a co-signer. The reason for this is because lenders who provide this type of loan do not really do a credit check when reviewing applications. As long as you can submit a proof of income to show your capacity to keep up with your car loan payments, you can expect to get an approval without any difficulty.

However, some people may have a negative notion about subprime lenders. It is true that some lenders who offer car loans for bad credit may impose high rates and fees to their customers. But that doesn’t mean all subprime lenders are unreasonable. If you do your research, you can surely find a lender who is willing to give you the car financing you need at a reasonable interest rate and under fair terms.

As a borrower, consider carefully how much loan you need. Although it’s fairly to get a bad credit car loan, you should always think about the repayment responsibilities you will have later on. Even if you can get approved for a higher loan value, you may opt for a lower loan amount to enjoy a much easier repayment.

This isn’t the time to buy that latest car model you’ve been dreaming of. The important thing is to have a car that you can use for your convenience and for you to use your loan to improve your bad credit. Your first priority should be to pay off your car loan as soon as you can. By submitting your loan payments on time, you can slowly but surely rebuild your bad credit history.

Regularly check your credit report to see your personal credit status. Once you have made significant progress in your credit rating, consider applying for a car refinancing loan. This way, you can enjoy lower interest rates and better repayment terms from your lender. Continue the good habit of timely payment and you’ll be on your way to enjoying excellent credit history.

Getting a car loan today is getting easier. The tightening we have seen in the economy is finally starting to shake out a bit and lenders are beginning to lend again. Even though the economy is improving, lenders still look at a few key factors when making a credit decision. Regardless of your credit history, here
are a few things that a lender looks for when reviewing your car loan application.

Ability:

The lender reviews your employment situation and income to see if you have the ability to pay for the loan in which you are applying. Most full time jobs are considered but lenders do not take into account income from seasonal or part time employment unless you can prove that you have worked at this position for a long period of time and can show that there is a good chance the income will be continual. They will want to ensure that you can prove your income with a current pay stub.

Stability:

Lenders are always concerned, regardless of your credit score, of your stability and if they can locate their collateral (in this case a vehicle) in case something was to go wrong and you stopped paying for the vehicle. Stability includes both residence (you have lived in the same place or area for a long period of time) and employment (you are not changing jobs every few months so you income is stable). Most lenders require proof of residence which can be validated with a utility bill in your name which shows your current home address.

Equity:

All lenders want to know that you are committed to the loan in which you are applying. One way to know this is down payment. Lenders are more likely to “stretch” and be more aggressive with their underwriting if you have a large down payment on the loan. A standard down payment required by most lenders is 10% of the purchase price of the vehicle. Anything north of 20% shows a strong commitment to the loan and a lender is more apt to be aggressive with their loan decision.

Many customers are reverting to online lenders for their auto financing needs. Online lenders allow you to apply from anywhere and get a loan decision back in just a few minutes.

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You’ll rest easy once you finally find out that you don’t have to put up with the rising prices of gasoline anymore. There is an alternative energy source that you can use to power up your vehicle. Electric cars are becoming the wave of the future as more and more people are cottoning up to the idea of doing an electric car conversion.

You can build an electric car out of your gas-guzzler without very much difficulty at all. All it will require is a modicum of technical knowledge and very little expense.

You’ll be surprised to learn that electric cars have been around since the turn of the century. During the early 1900′s, gasoline was extremely expensive and people drove electric cars instead. The technology behind gasoline-powered cars then was so primitive, there was no key to start the engine. People had to laboriously crank up a lever in front of the car to start it up. Gasoline-powered vehicles during that era emitted a lot of smoke and had very noisy mufflers, as well.

As years passed, people found new ways to make gasoline. Newer cars featured electric starters and enabled vehicles to travel further than electric cars could. Soon gasoline-powered cars became the widely-used means of transportation.

These days, however, with the rising prices of gasoline and the push towards a cleaner greener environment by minimizing the emission of carbon gasses into the atmosphere, people have started to gravitate towards the idea of bringing back the electric car once more.

Electric cars have no need for gasoline at all. They are powered by the electricity in their batteries. The batteries, around 12 to 24 to a car, are responsible for powering up the motor which impels the movement of the wheels. All you need to do to charge these batteries is to plug it into an electric outlet during the night. Electricity is then stored into the batteries while you sleep. You’ll wake up the next morning to a fully-charged car which will carry you for up to 200 miles before it will need to be recharged again.

An electric car conversion will save you from having to spend money on gas. The money you save can go to other things you’ve always wanted, such as taking your family on a vacation or indulging in a brand new home theater system. You’ll also be able to join in the movement to reduce pollution, thus easing up on the effects of global warming.

Converting your car into an electric need not be expensive either. You won’t need to buy a whole new vehicle. All you need are those easily available DIY electric car conversion kits, or a downloadable DIY electric car guide that you can find on the internet.

Guides that show you how to build an electric car are well worth getting. For a very minimal amount, in fact just about the amount it takes to fill up a gasoline-powered car, you can get a step-by-step guide on how to convert your current gas-guzzler into an inexpensive environmentally-friendly green car! Electric car conversion guides that you can find on the internet will help you towards driving the roads with a clear conscience and considerably more money in your pockets.