Car Tuning,Car Finance,Auto Loans

Archive for November, 2010

Henry Ford, arguably the most famous name in cars, founded the Ford Motor Company in 1903. His cars were cheap and mass produced by a loyal work force with with highest wages of any industry at the time ($4.00/day).

By 1908, Ford’s Model-Ts “Tin Lizzies” were filling the roads. Ford’s goal had been to create a car large enough for the entire family to enjoy weekend outings, together. Easy to maintain, and affordable (4 months salary for an assembly line worker); the Model T changed the way the World moved. You would no longer both live and die within 5 miles.

It is uncertain exactly when and what was the first automobile, and who invented it. In 1769, Nicolas Joseph Cugnot of France created the first self propelled road vehicle. It cruised along at just over 2 miles per hour powered by steam.

In the United States, Oliver Evans patented the first automobile on record (also a steam engine) in 1789. It is debated as to whether steam powered road vehicles can be categorized as cars. Those who do accept the notion of steam powered cars call Nicolas Cugnot, of France, the first inventor of the automobile with his self propelled tricycle. Proving very popular for locomotives, the steam engine added too much weight to be feasible for the road.

Sometime between 1832 and 1839 Robert Anderson of Scotland is said to have created the first electric car which also proved to be heavy, slow and expensive. Both the steam engines and the electrical engines were abandoned in favor of gas-powered vehicles. During the early 1900s, the electrical cars had had good sales in the United States, but with the improved system of roads, people wanted cars that could go the distance.

The invention of gas fueled cars is generally credited to Karl Benz of Germany in 1883. In 1926 Benz merged companies with Daimler-Maybach and began manufacturing their legendary cars.

The United States had the Duryea Brothers who formed their automobile company in 1893. Ransom Olds, debuted his Oldsmobile in 1902 and in 1903 Henry Ford was in production with his Ford Motor Company, expanding Olds’ assembly line concept.

Automotive development continued rapidly into front engine vehicles with rear wheel drive. Engine size, power and speed became a major focus of car companies as people became enthralled with the “Merry Oldsmobile” and the V8 engine.

Beginning in 1911, Chevrolet was known for innovative designs and unique styling. Entering the automobile market to compete with the Ford Model T, Louis Chevrolet and William Durant created models that would become part of automobile history. The 1914 “Classic Six” boasted a 6-cylinder engine with a top speed of 15 miles per hour. 1918 saw the first in a long line of Chevy V8 engines.

Chevy is widely known for some of the most popular classic cars ever produced, like the Corvette – one of the most recognizable vehicles in the world. Chevy models of the mid-50s remain wildly popular among car collectors. The ’55 Bel Air, available in convertible, hardtop coupe, and 2- or 4- door sedan versions was considered superior in style to any other vehicle at the time, particularly due to its chrome accents and classic, refined look. The small-block V8, introduced in 1955, remains in continuous production to this day. Chevy innovations of this era included the first fuel-injected engine in 1957. In 1966, Chevrolet unveiled the Camaro that would become the pace car at the Indy 500.

In 1916, 55% of the cars in the world were Ford Model-Ts. This is a record that has never been (nor likely will be) broken.

In 1964, Chevrolet became the first American automaker to build more than 3 million vehicles in one year.

If you are planning to buy a car in instalment, a loan may be a better option. Sometimes it happens that you don’t have enough money to purchase your favourite car – either the car may be too expensive or you may have less savings or you may be interested in keeping your savings intact. In any case, auto loans can come to your rescue.

Before you opt for a car loan, make sure that you have the income that is commensurate to your prospective outgoings. If you take motor loans, one thing is sure – you won’t be alone.

The latest market research reveals that more than one in every four people opts for loan in order to buy a new vehicle. So, you may also decide to be amongst those who are opting for car loans.

Increasing numbers of car loan seekers are keeping the loan market abuzz. Lenders expect the market for Car Loans to grow further with more and more people junking their old cars and opting for new cars. There are various loan offers in the market that you will find irresistible. But, still it will be better to compare different car loan offers before settling for a particular deal.

Experts say that people often give relatively less time in deciding for a loan deal especially when compared to the time and efforts that they expend in deciding for a car’s brand or model. When there are too many offers available in the market, it becomes necessary to compare them and then reach at conclusion only after due thoughts. A very important thing that you need to decide is whether to avail secured or unsecured car loans. If you are willing to provide some security (your car or home or any other valuable possession), you can take secured car loans or else you can opt for unsecured car loans.

Repossessed cars for sale offer great options for you when planning to purchase cheap cars. It offers great collections of cars you can choose from at very reasonable rates. Since there are a lot of choices, you have greater chances of getting the best value for the purchase of the car of your dreams.

Quality is also one advantage you can find in repossessed cars for sale. Quality at a low price is a very great deal! Repossessed cars for sale are mostly in good condition; in fact some of it are good as brand new. So an inexpensive car doesn’t necessarily mean it’s for scrap. Buyers can be assured that they can find great deals with good quality cars.

As a buyer, you should be knowledgeable enough on every aspects of the car. You can always benchmark repossessed cars for sale with similar brand new cars in term of specifications and other details. You can do this by going online and visit official web sites of the car manufacturer. If there is a car dealer near you, try to visit the showroom and collect brochures and reviews. Performing all these things will give you better judgment on the car you are planning to bid on.

Important documents should also be verified. Since this is a repossessed car, it is a fact that there are previous owners. You need to check on its records like the vehicle’s registration, insurance papers, and maintenance records among others.

Before placing a bid on a vehicle, make sure to inspect and examine every part of it. Check if it’s working and on its highest possible quality. Also speak with the seller, ask him everything you want know about the vehicle. Also ensure that you will have a safe and secured transaction. Other details should also be thoroughly check; and all information like its model and mileage should be clear.

The next thing to consider is the cost. Ask the seller if there will be additional charges. Ask for a test drive if possible; some may allow you to do this, although generally they don’t because you will check the vehicle as you see it. Other details you need to have are the payment and delivery process. Usually, you are required to pay within the same day of winning the bid.

But the bottom line is, buying repossessed cars for sale is one good option for you to have your own car today; and this offers one of the best ways in getting the best deal for your dream car.

It is estimated that about four in ten personal loans availed in UK are for buying cars. After house, purchasing a car is considered as a major investment by many. While many are able to drive away with a brand new car, some others are contended with a used car. In the past only those who possessed ready cash could buy an expensive car, but the situation has definitely improved today, with the arrival of car loans.

Depending upon the cost of the car and your repayment capacity, many kinds of financing options are available in the car market. You may buy it directly from the manufacturer, you may avail a car loan from your bank, you may find it at an auction place or you may contact a car dealer. Garages are also an option. Supermarkets also have cars on sale. Then there are friends, relatives or neighbors who may be selling their car. And if you’re not so sure there are specialists out there willing to offer their service.

One such option is PCP or personal contract purchase in which an initial deposit is submitted initially followed by monthly installments. At the end of the contract period, the final lump sum amount is paid and the car becomes solely yours. You can also switch over to another car and continue making repayments or simply return the car to the owner. But be careful- since you don’t own the car during the contract period, so any default in repayments and the car may be repossessed. The second option is Hire Purchase (HP). This is almost similar to a bank loan in which you pay monthly repayments for a fixed time period and at the end of the agreement the car is yours. Contract Hire financing gives any business the freedom to lease out new cars without buying them.

Any one with a good credit report can easily get standard bank loan and it gives you the freedom to purchase your car from anywhere. Direct lending is also possible with financing companies and credit unions. Secured car loans may require you to pledge your property against the loan amount. Unsecured loans do not involve pledging any property. One may get up to 20,000 under this scheme. Bad credit car loans are available at higher interest rates with private dealers and financing companies. But they may require you to buy car from a certain dealer. The most common type of car financing involves the dealer and the buyer. A contract is fixed and the buyer agrees to pay the amount financed plus interest for a fixed period. The dealer usually sells the dealership to a bank or financing company which then manages the repayments. Online car loans are also becoming a popular option among many who want a hassle free deal in the comforts of their home.

All of the above options have many merits as well as draw backs. While a PCP loan keeps your monthly payments lower than a personal loan; a personal loan has the lowest annual percentage rate (APR) among various car finance options and doesn’t have any arrangement fees. The disadvantage with HP is that you don’t own the car during the hire period.

So, how can you ensure yourselves to sort out the best car finance option? Simply shop around. Extend your search beyond your bank. Many online financiers have car loan calculators for comparing various deals. Know in advance the interest that you will be paying. Get the terms and conditions in written form. Go online with a specialist broker if you are in doubt, all these with your repayment capacity in mind.

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Did you know that you can buy cheap repo cars ie repossessed cars? Some people may think that the only way to buy a car is to buy a brand new or used car at the car dealerships. If you do not mind owning a repossessed car, it can mean a whole lot of huge savings for you. In fact, saving thousands of dollars is likely if you buy a repossessed vehicle from a public or government car auction. So here we are talking about how to buy repo cars on cheap from such auctions.

Thousands of vehicles such as cars, SUVs, MPVs, motorcycles, trucks and RVs are seized or repossessed by either government agencies or financial institutions like banks every single day. These cars either belong to criminals or loan defaulters.

Because of the high costs of storage as well as the depreciation rates, the government agencies as well as these debtors are willing to sell off the cars quickly at largely slashed prices. Against this backdrop lies an opportunity for you to buy repo cars whether for personal use or to resell as a used car dealer.

You need not have to worry about depreciation of your repo cars since there is hardly any to talk about. Buying a new car home would slap you immediately with a sharp depreciation the moment your car leaves the showroom. It can be as much as $5000 or more depending on the retail value of your car. Contrast this with repo cars that sell for probably less than 80% of the retail value at the seized car auctions.

Repossessed car auctions are a trade secret. You often only see car dealers instead of individual car bidders. But once you know this, it is going to benefit you as well as a car buyer. Go ahead and buy the repo cars for cheap prices.

Used car dealers have made huge profits from buying the cars at dirt cheap prices way below the Blue Book Value and reselling them for much higher prices. Perhaps you have bought a used car from a car dealer not knowing that he actually got it from the auctions.

Nowadays, there is a loophole in the system which few people are exploiting. No it is not illegal. Several online car portals have surfaced providing information about the location of seized auto auctions as well as the prices and car makes. So if you are looking for your dream car, you can go to such a portal, search your car model and you would know whether it is available and where you can get your repo cars.

Consider these online car portals as excellent search resources that save time and money when it comes to buying repo cars from repossessed auto auctions. Do a check now at my car blog.