A Guide to Buying Used Cars

Shopping for used cars? Requesting used car quotes? Ready to make a purchase? Before you sign the bottom line, read through this guide to buying used cars, which can help you research, locate, and price any number of models.

Buying used cars is a tricky process. As a consumer, you are not only searching for the best quotes, but you are also trying to weed out models with mechanical and structural problems. Malfunctioning models tend to have “bargain” prices and can be, if you’re not careful, difficult to avoid. But, by utilizing the following guide to buying used cars, you can make yourself a little wiser and maybe save a little money in the process.

If you're not careful, the model you are interested in could have a laundry list of problems. Some of which are not easily repaired. Buying used cars means taking the time to carefully inspect your purchase. Remember, it is not new. It's been used, and possibly abused.

The following are some common problems:

• Prior accidents, possibly salvaged

• Flood damage

• Unsuited Vehicle Identification Numbers

• Odometer rollback

• Missing airbags

• Auctioned

• Smog test failure

• Previously Stolen

However, with the proper precaution, the buying process can be less risky:

• Try to purchase a “Certified” model – one that shows proof of a thorough 100-point inspection and already includes an extended warranty.

• Research the Vehicle Identification Number (VIN) and Vehicle History Report.

• Schedule a qualified mechanical inspection to thoroughly inspect it inside and out.

• Consider purchasing an extended auto warranty, especially if it’s five years older or more.

• Be sure to take a test drive. Check for problems with the handling, engine, transmission, passenger controls, etc.

Taking these precautions when buying used cars will not only weed out the lemons, it will allow you to find the best of the bunch. If you find a credible model, the upside is tremendous. First, you're not paying a large MSRP, like you would for a new car. So, if you purchase a used car in good condition for a reasonable price, you'll get a better value. Second, the depreciation is lessened. In other words, instead of losing immense value in the first few years, a used car's value is maintained. If you're smart about your purchase, you'll get more “drive” for less money.

The following is a complete breakdown for the process of buying used cars, taking you from beginning to end. In just 10 steps, you can save time, money, and headaches.

Used Car Buying Advice, Step One – Research prices

Search for used cars to determine what average prices are. Be sure to do thorough research, so that you're paying a fair price for the make and model you choose.

Used Car Buying Advice, Step Two – Get multiple used car quotes

After figuring out a fair price, request as many quotes as possible, on as many models that come close to fitting your description. Request prices with all applicable taxes and charges included in those used car quotes.

Used Car Buying Advice, Step Three – Get your credit report

Your credit score is what is used to determine the APR you'll pay on your loan. You should get a copy so you know the kind of rate you deserve and to ensure there are no errors.

Used Car Buying Advice, Step Four – Get loan rate quotes

With your FICO credit score prepared, you should apply to online lenders for the best loan rates. Your bank, other banks, other lenders, the dealership, and even your family. Shopping around for financing can save you thousands over the life of your loan.

Used Car Buying Advice, Step Five – Research insurance companies

You should research insurance companies thoroughly as well. Some specialize in offering plans for used cars and/or less expensive plans for drivers with good driving records.

Used Car Buying Advice, Step Six – Get insurance rate quotes

Request quotes from the preferred companies you found, and much like the search for auto loan rate quotes, pick the plan that offers the best protection for the most reasonable price.

Used Car Buying Advice, Step Seven – Determine trade-in value

Use Kelly Blue Book to estimate your current car’s value if you're thinking about trading it in to help pay for the used car. The trade-in value will be affected by the used car’s price.

Used Car Buying Advice, Step Eight – Vehicle History

Once you've narrowed down potential purchases, you'll need specifics about each of those used cars. Run vehicle history checks with the VINs (Vehicle Identification Number).

Used Car Buying Advice, Step Nine – Get an extended auto warranty

It is important to purchase an extended warranty to cover any surprise repairs (unless the car is certified, which means the original warranty is still valid). It is a smart investment that may save you thousands in the long run.

Used Car Buying Advice, Step Ten – Negotiating your purchase

Contact your preferred sellers to see if they'll beat the lowest of the used car quotes. Many will compete because they want your business. If you can do this online, it may make the process quick and hassle-free.

Article Source: http://ezine-articles-planet.com
 

Your Options In Car Financing

There are so many car financing options available how do you know which one is right for you? Read on to obtain information about all of the different options available and how to determine which one will provide you with the best benefits.

Many people take advantage of an option known as dealer financing. This is when you handle the financing of your new vehicle directly through the lender. Now, that doesn’t necessarily mean you’ll be making your payments directly to the dealer. Usually, they work with a finance company to provide the financing to you. There are definitely some benefits to this option. First, depending on your situation you may be able to obtain extremely low interest rates; in some case you may be able to obtain a zero percent interest rate. In order to obtain this special rate; however, you will need to have excellent credit with no problems. If you have any problems at all on your credit history you will not qualify for the special interest rate although you will probably be able to still obtain a loan; just at a higher rate. When your credit report is not perfect ask yourself whether you could get a better deal at a bank.

Bank financing is an option that is typically available as long as your credit history is good. This means it doesn’t have to be perfect but you shouldn’t have any major flaws either. If you have already worked with the bank in the past this will increase your chances of obtaining a loan. While a bank interest rate may not be as low as what a car dealer can offer for individuals with excellent credit, it may be better than what you could obtain at the dealership if your credit is only ‘good.’

Another option you may wish to consider is credit union financing. Of course, this option is only available if you belong to a credit union. If you do happen to have a credit union membership; however, the rate available to you may be much better than what you can obtain through a bank or dealership.

These days it is also quite easy to simply go online and surf around for a quote from an online lender. This option has become so popular many lenders are now willing to compete with one another and offer very attractive rates. In the event you do not have perfect credit, this can be a good option for you; just make sure you fully understand all of the terms of the loan before accepting it.

Another option would be to simply borrow the funds from a family member of friend. Of course, this is extremely risky because it could cause problems in your relationship in the event that you run into a problem with the payments. But, if you can’t obtain a loan elsewhere because of credit problems this may be a good option.

Finally, you may wish to consider refinancing your home or taking out a home equity loan in order to finance the cost of your new home. This basically allows you to pay cash for your vehicle with the proceeds of the loan and then paying back the money through the refi loan. In some cases you may be able to get a better interest rate with this route than you would with a traditional bank auto loan. In addition, the interest you pay on the loan is tax deductible. Like other options; however, there are some disadvantages. With this option, be aware that you could be putting your house at risk, not just your car, if you run into a problem and can’t make the payments in the future.

 

Finance A New Car

Buying a new car is an exciting and overwhelming adventure. With so many ways to finance a new car, it is important to explore all of your options before starting the process. Start by checking with local banks and credit unions and compare the car financing programs they offer.

Dealers and manufacturers also offer financing. You should know which banks offer the best rates. Credit unions usually offer the best interest rates but are very discriminant about their members. You may be able to become a member of your local credit union through your job or a family member. Getting the best interest rate possible is important. Even one percentage point can mean a lot of savings during the life of your loan

Banks, credit unions, dealers, and manufacturers all use the same process to make their financing decisions. The first thing they are going to look at is your credit report. Your credit report is a compilation of your credit history including credit cards, loans, and bills. These credit

reports often contain mistakes so it is important that you get a copy of yours before the financing company you chose to finance a new car with sees it. Your credit report offers a very valuable tool for the financing company, your credit rating. Your credit rating will determine your loans interest rate.

Many finance institutions will offer a longer payment term when you finance a new car. This could cut your monthly payments and may look very appealing. These longer terms may seem like a good thing, but they increase the amount of interest you will pay and will add significantly to the price you ultimately pay for the car. It is best to only get the loan for the amount of time that you plan to own the car. This way you don't get stuck paying on a car you no longer own.

If you are a homeowner you can take out a Home Equity Loan to finance a new car. The interest paid on these types of loans is tax deductible but they include a lot of up front fees when opening them, such as application fees and closing costs. These loans also use your house as

collateral and will put your home in danger if you cannot make the payments.

When you finance a new car be sure to explore all of your options first. Knowing what a lender is looking at and what impact it can have on your loan will keep you from being surprised along the way. To make the process easier, get your financing first before you begin looking at cars, then you know what you can afford and will be less likely to be tempted by the more expensive models showcased on the dealership's show room floor.

 

Car Insurance Rate

Everyone wants to receive a good car insurance rate. No one wants to waste their hard earned money on paying high car insurance rates. There are many other things that people want to spend their money on, but car insurance isn't usually one of them.

Here are a few tips that can help you keep your car insurance rates low.

* Find out what kind of coverage you really need. If you are driving a vehicle that is on its last leg, it may not be worth the money paid to the insurance company to insure that the vehicle be fixed or replaced. Just getting the minimum coverage legally required will help get your car insurance rate down to the lowest point possible.

* Understand that there are hundreds of car insurance companies in the world and they are all competing for your business. By shopping around for the best car insurance rate you can save yourself hundreds of dollars per year.

* Know what car insurance discounts you qualify for. Did you know you could receive discounts on your car insurance if you have daytime running lights on your car? Daytime running lights, anti-lock brakes, air bags, anti-theft devices and even carpooling can qualify you for a lower car insurance rate. Do a search on the car insurance companies web site to find ways you can receive a discount.

* You may want to consider having a high deductible - if you can afford to pay it should an accident happen. Going with a higher deductible will lower your car insurance rates.

* Before purchasing a car, you should do a search for it to see what the insurance premiums would be on it. The car's price, cost to repair and safety record all affect insurance policy premiums. You may find that the car does not seem as attractive if the insurance rate for it is very high.

* When you obtain a new car insurance rate and get a new policy, be sure to cancel your old policy. However, do not cancel your old insurance until you are certain your new car insurance is active.

* Find the payment option that works best for you. That great car insurance rate may not be so great if they are charging you extra fees to pay it off monthly.

 

Buying And Selling Used Cars: How To Get The Best Deals

In the fast-paced world we live in, owning cars is an essential necessity in life. With a car, you can manage your life easier, and more efficiently.

New car buyers usually buy their car in used car dealership to save money.

Most people consider getting another used car and usually sell their first car.

Here are some tips to get you started in buying or selling used cars and in the same time, getting the best deal possible.

Used Car Buyers

The first thing you should consider when buying a used car is how much you are willing to spend. Knowing what you can and cannot afford is the first step when buying used cars. Saving money is mainly the reason why most people buy used cars. Another reason is that they want a specific model of a car but cannot afford to buy a brand new one. To get the best deals possible you should research, and research some more.

To know how much you can afford you should first figure out your monthly net income. To get the exact figures, you have to first get your total monthly gross income then, deduct all of your monthly expenses like; groceries, insurance, rent payments, mortgage, etc. the result will be your net income.

After you figure out your monthly net income, you should ask yourself:
• How much am I willing to spend on a car?

• How much is the down payment?

• How much can I afford on monthly payments?

While calculating these three important numbers, you should also consider the cost of fuel, registration and insurance. Find out if the vehicles you are interested in are still capable of giving many a good mile to gallon of fuel ratio.

Contact your insurance company to know how much your monthly payments will be on each of the cars you are interested in. Give considerations if the vehicles have safety features like airbags, and anti lock braking system or ABS. Insurance companies usually give discounts if the car has these features.

The biggest disadvantage to buying a used car is the lack of warranty. Private sellers often do not include any warranty on the car they are selling. Another problem when you purchase a used car is the risk of buying a junk.

You may have purchased the car for a very low price but you could have bought a car that will drain your money on maintenance costs.

It is always wise to inspect the car thoroughly first before deciding to buy it. If possible, try to find out about the car’s history. Get some of the car’s service records for you to know a bit about the car’s history.

Selling Used Cars

Selling your old car can prove difficult and time consuming. Most people who tries to sell their used car often gets tired and will just trade it in or sell it in a very low price.

Here are a few tips on selling a used car to get you the best deal possible.

Once you decide to sell your old car, the first thing you should do is set a price for it. To help you with the actual value of your old car in the market, research the car’s make and model in the internet or in your local used car dealership. Ask around.

After you figure out the market value, find out how many vehicles that are similar to yours are in the market, then, increase the price of your old car just a little. This can be helpful when a buyer tries to haggle, which they often do. This gives you an allowance for haggling.

The next step would be evaluating your vehicle. List down your old car’s accessories and other added expenses. This would be a good way to further increase your vehicles price.

You should also include in your list about the condition of the vehicle. The better the condition the faster it sells. You should also present you car’s service records to the buyer.

A service record is a good way to know about the car’s history. If your old car’s service record were clean (no accidents, good maintenance) it would sell faster.

 

Car Hire - How To Get The Best Price And Service For Traveling

With just a little research your travel experience can be much more enjoyable. It really is worth your time to look into information, before you get a car hire or rental.

The best rental tip to get a cost effective car hire or rental for your vacation, is to be sure to book early, before school holidays. If you can avoid Christmas when car availability is very low, you can save considerably. This is the time of year when the prices can be very high. If you book early before most major holidays, you can save money. Take advantage of any special weekend rates that might be available.

Car hire companies such as Avis , Budget , Hertz , and Thrifty are your best bet for good service and price. They all make the list for dedicated service to provide great prices, the greatest range of car hire vehicles and unsurpassed value in the market place. With these top car rental services, you have many more options available to you for your travel needs. Finding a better price from others will be a challenge.

Compare car hire services and companies with online websites. There are several websites that make comparing prices as easy as a few clicks of your computer mouse. Make sure they have a secure server before you give any of your credit card details or any other information out. You will see a padlock in the bottom left of your browser to see if the site is secure. This is called, Secure Socket Layers or (SSL) for short. You don’t want to save money and end up having identity theft. What would be the point?

Car Hire - Travel Insurance And Other Important Aspects While Traveling

The most important aspect with a car hire abroad, is to retain travel insurance. Book travel insurance online or call a consultant to get covered before you travel.

Another important aspect is to store travel document details, travel dates and contact details securely. You do not want to wonder what in the world you are doing in the middle of your vacation or traveling experience. If you take time to reserve a hotel at the airport, it can make it easier while traveling abroad.

Always look into getting collision damage waiver. You want to make sure the car hire company provides full coverage on the car you are going to drive. Some car hire companies include this cost in their prices. If you wreck the vehicle, you may be responsible for the entire cost. It is your responsibility to look into all the rental details of insurance before you rent a vehicle.

Simple Internet access can help you get all the resources you need to make your traveling experience safe, and hassle free. Take advantage of websites that offer free tips, quotes and information.

 

Want to donate a car?

The internet has been such a blessing in so many ways to those that have taken the plunge and accepted the fact that it is the future and have jumped on board and started using it to their advantage such as people wanting to donate cars online. There are so many ways that it brings all of the necessary services that you normally would have to either take a personal day to take care of during the work day and/or drive across town or the country to accomplish without on the internet capabilities.

So what are some of the advantage of online car donating? Well, for one thing there is the convenience of donating in your own home and ability to communicate easily with the charity that only comes with continuous connectivity that you get with the World Wide Web. But isn’t it too risky to make such a large donation over the internet, especially with all of the fraudulent charity activity in the world today? This is a real concern that many people have, and one that I want to address as well as offer many offsetting bonuses of choosing to “donate cars on the internet.”

The question then is, “is the risk of making the donation on the internet less than the benefits that you gain?” My answer is a quick and resounding YES! Let me first dispel the myth that the internet lacks the safety and security necessary to exchange private financial information that you need to purchase something on the internet as serious as a vehicle. You must understand now that the technology is presently online to insure that you can do business including the necessary exchange of sensitive information over the internet. So there is really no difference in security whether you choose to donate car off the lot or on the internet.

What then are the advantages of choosing to donate car via the internet that supersede the risk of not being able to personally check the car and see it with your own two eyes? Well there is the amazingly powerful advantage of searching for the right charity which saves you time and therefore money and lots of it. There are also systems set up to on the internet reduce fraud and cheating that are not necessarily available when buying cars, especially from private donators. There are licenses that certify the credibility of the charity. There are also systems set up that hold charities accountable for misinformation, and it is now becoming more and more popular to offer receipts which official tax credit numbers.