Despite the growing sales of SUVs, there is still plenty of interest in conventional estate cars. There has been a rash of new launches recently, and the latest to enter the fray is the Peugeot 308 SW. Based on the existing hatchback, it
A car repair loan can help cover the cost of fixing a vehicle after an accident or breakdown. Since repairs are expensive, people often do not have enough liquid cash to have their vehicles fixed immediately. Because of this, a car repair loan is important for drivers who cannot afford to be without a car and do not have the money to pay for repairs in the short term. A repair loan is also useful in emergency repair situations or when asking family or friends for a loan is not an option.
What is a car repair loan?
Car repair loans are similar to any other loan, except the money goes toward auto repairs or the driver’s insurance deductible for accident repairs. Many people think that they will never need a car repair loan, but according to Lending Tree, newer cars with added features often cost more to repair. If a car has numerous airbags, advanced technology, imported parts or aftermarket add-ons, the repair costs can run in the thousands of dollars. Also, depending on the make of the car, what may seem like a simple repair can actually end up being quite complicated.
Car repair loans are best for extremely expensive repairs. A loan company will pay for the repairs and then bill the driver in affordable monthly installments. If using the money for an insurance deductible, the loan company will give the driver the money to use toward both the deductible and any needed repairs. If borrowers have money left over from the loan, they can use it to repay the loan or to pay for other (not necessarily related) expenses.
Types of Car Repair Loans
The two main types of car repair loans are loans issued through a bank or lending company and title loans, which are often issued through a pawnshop or “quickie” loan company. Standard loans through traditional financial institutions involve an application process and a credit check. Loan approval usually requires the borrower to have good credit. Some repair shops also work with financial institutions to supply repair loans to customers.
A title loan is borrowed against the title of the vehicle. Many lenders will offer a “no credit” or “bad credit” option for loans based on the value of the vehicle. Services like EZ Repair Loan allow car owners to call from the dealership to request loan approval. After receiving the proper paperwork and invoice for the repairs, the company either approves or denies the loan. Loan amount and payments are calculated according to the value of the vehicle, and there is no need for credit cards.
While title loans are preferable for people with little credit or bad credit, borrowers run the risk of losing the vehicle on unpaid loans. Should the borrower default on payments, the lender will take possession of the vehicle as repayment of the debt. Also, since there is greater risk involved with a title loan, interest rates are usually higher than rates offered by banking institutions, sometimes climbing into triple digits. When researching lenders, it is important for borrowers to understand the loan’s conditions, interest rate and repayment terms before agreeing to take the money.
Benefits of a Car Repair Loan
The main benefit of a car repair loan is being able to pay for highly priced repairs without needing to come up with a single lump-sum payment. The same is also true for high insurance deductibles that must be paid before insurance coverage takes effect.
Other benefits include:
- Being able to improve the car with optional procedures, such as a new paint job or a detailed cleaning
- Not having to charge the repairs to a high-interest credit card
- Being able to pay for repairs without asking friends or family for money
- Getting the vehicle back in a timely manner, instead of having to save money slowly for repairs
Car Repair Loan Disadvantages
There are also some disadvantages to a car repair loan. The biggest disadvantage occurs when borrowers take out a title loan, because control of the vehicle is taken away from the driver and is given to the lender. While borrowers may feel that the situation is not dangerous, missing only a few payments could cause the lender to send a repossession company to collect the vehicle. For people who borrow through a bank, missing payments can damage their credit ratings and have a serious effect on their ability to acquire loans in the future.
Something else to consider before taking out a car repair loan is the actual value of the vehicle. If the repairs cost just as much or only slightly more than buying a new or used vehicle, then taking out a repair loan may not be a smart financial decision. For example, if the cost of repairs is $6,000, but the value of the vehicle is only $4,500, taking out a repair loan for $6,000 is detrimental, and the driver is better off trading in or selling the old vehicle for a new one. However, for repairs that do not exceed the vehicle’s value, a car repair loan can be a good way to get car repairs done quickly and get back on the road.
Step 5: Try Negotiating a Lower Price
If you think you can negotiate an even better deal, you have another option: Request Internet price quotes from at least three local dealers. Take the lowest price, call the other dealerships and say, “If you beat this price, I’ll buy it from you.” The dealer almost certainly will give you a better price.
Some shoppers find this time-consuming and stressful, so consider whether the potential savings are worth the time and effort. It’s good to remember that a good deal isn’t just the lowest selling price. It’s a combination of the most streamlined, enjoyable shopping experience and the lowest total out-the-door cost.
Step 6: Review New Car Fees and Check Dealer Financing
Besides the cost of the car, you have to pay sales tax, registry fees and a documentation, or “doc” fee. Now ask the Internet sales manager or the dealership’s Price Promise contact to supply a breakdown of all the fees, or a “worksheet,” which lists the purchase price, the vehicle’s invoice and all related fees. Review the figures carefully before signing the sales contract.
Back in Step One, you were pre-approved for financing. But who knows? Maybe you can get an even better interest rate at the dealership. To see if that’s possible, you can let the dealership run a credit report and assess what interest rate you qualify for. If it is lower than your pre-approved loan, go for it. If not, you already have a good loan locked in.
If the price, financing and fees look right, it’s nearly time to say yes to the deal. But before you do, consider making the sale contingent on having your new car delivered to your home or office. This is a great time saver and allows you to close the deal in a relaxed environment.
Step 7: Sign the Paperwork
This step will take place at your home if you have the dealership deliver the car, or at the dealership if you prefer to pick it up there. Either way, make sure there are no dents or scratches on the body or the wheels. Check that all the equipment is included, such as floor mats, owner’s manuals and rear-seat DVD headphones. Your new car should also come with a full tank of gas. If anything is missing or needs repair, ask for a “Due Bill” that puts this in writing.
In cases of home delivery, the salesperson arrives with all the necessary paperwork. If you opt to pick up your car at the dealership, you will sign paperwork in the finance and insurance office, where the finance manager may try to sell you additional items. These typically include extended warranties, fabric protection or additional alarm systems. These extras can often be purchased elsewhere for less. One product that can have real value is an extended auto warranty, which provides peace of mind to many buyers and could save you money in the long run. Remember, though, that its price also is negotiable and you can always buy it later. You can learn more about the products offered by the finance manager in “Negotiating a Dealer’s New-Car Add-Ons.”
Review the contract carefully and make sure the numbers match the worksheet and that there are no additional charges or fees. A good finance manager will explain each form and what it means. Don’t hurry. Buying a car is a serious commitment. And remember, there is no cooling-off period. Once you sign the contract, the car is yours.
Step 8: Take Delivery of Your New Car
You are probably eager to begin driving your new car. But this is an important step: Let the salesperson give you a tour of your new car. This could include showing you how to connect your smartphone to the car’s Bluetooth system and learning how to use other important features and safety devices. Yes, you can review all this in the manual later, but it’s quite helpful to get a hands-on demonstration. If you don’t have time for a complete demonstration when you sign the contract, ask to visit the dealership a week later for this important step.
As you drive away, there is only one more thing to do: Enjoy your new car.
The following steps will show you how to locate, price and negotiate to buy the new car you want. Using this information could save you thousands of dollars on a new car and make the process quicker and enjoyable. It also puts you in charge of the deal-making process
The summer is about to arrive, and if you haven’t taken care of your car yet, it’s certainly time to start. Sure, you can leave your money at the car wash and hope to get the looks for that shiny piece rollin’ out of the wash. Or, you can put your money into body kits that transform your ride into an extra-ordinary car on the streets. Do you think this sounds like a great idea and you need some inspiration? Take a look at the following most common custom body kits for different makes and models.
A Mustang body kit accentuates the individual style of a Ford Mustang to the max. You can get single components like side view mirrors or rear spoilers, or go for a full body kit. Like the Volkswagen Golf body kit and the Ford Focus body kit, the Mustang full body kit comes either as an air dam kit or a front fascia replacement. The air dam kit gives your ride an aggressive and sporty look with its air dam, side skirts, rear spoiler, and rear valance. The front fascia replacement includes a mesh, side skirts, rear valance, a single exhaust, and a rear spoiler. Now imagine how your Honda, Acura, or Chevy would be transformed with a Prelude body kit, Integra body kit, or Camaro body kit!
So, you schlepp your car to the service station and tell the guy: “Hey, put the Cavalier body kit on my car.” Perhaps, you hear something in reply like: “Dude, you gotta wait in line. I needa get this Neon body kit done first, then it’ll be the 300ZX body kit, then the RSX body kit. You gotta wait!” Body kits are very popular these days, so make sure you get yours first and make an appointment at the repair shop fast.
Individualizing your car is nothing new, however, with prices dropping on auto styling accessories, it’s the perfect time to look into all the fancy side view mirrors, spoilers, fender flares, bumpers, and roll pans. Making your ride as unique as possible shouldn’t cost a fortune and should get you excited every time you look at your car- with a body kit, you’ll do your body good!
Driving without auto insurance is illegal. Some people do not see the importance of getting auto insurance since they think that being careful while on the road is enough. This is mostly true for younger drivers. Even if you are careful on the road, there are other drivers who are not so careful and they may be the ones who cause the accidents. When this happens, having car insurance really helps. That is why it is very important to get auto insurance.
Auto insurance doesn
Buying a car is easy if you have the money, but the truth is the purchase price is just the beginning of your auto expenses. After you get it, you will also need to take proper care of it.
There are many necessary expenses that come with car ownership. Especially if you just purchased a used car. Of course, the best idea is to plan ahead and always have money for eventual repairs, insurance payments so your can drive legally, and foreseeable expenses. If, for instance, you have an accident and you need money to repair your car fast, but you’re broke at the moment, there is a way to quickly get the money you need so you can get your car back on the road. Payday loans. With a payday loan for autos, your emergency can be solved easily and immediately.
A payday loan is a loan that is made for a very short term and it is perfect for emergencies like this one. In order to get one, you will need to go online and look for a lender or you can also look for one offline. There is a form that you will need to complete. You also need to provide proof of current employment, as well as provide federally issued I.D. When you do, you will get the money in your account in less than twenty four hours generally, sometimes in as little as an hour.
Payday loans cannot be rivaled in terms of the ease of getting funds. They are sometimes instant cash advances. In fact, they are designed for people with no credit or bad credit and no other way to borrow money. That is one reason the interest rates are higher than other types of loans. It’s really important to only use a payday loan in a real emergency, like when your car breaks down and you have no other way to get to work.
Be sure and know how you are going to pay the loan back when it comes due in a week or two. If you don’t pay it back when promised, the fees, penalties and higher interest rates can add up very quickly. In several months, it is very possible for the amount you owe to be double the original loan amount.
Lenders will extend the term of loans if you make the request before the money is due.
Now you know how to handle your car emergency repairs with payday loans for autos!
Whether customers are purchasing a vehicle for the first time or whether they have had experience with automobiles in the past, it is essential for each buyer to check a car
Examine the Recently Driven Vehicle
Once drivers have finished test driving a vehicle, they should park it in a level spot and, once again, open the hood.. They should then turn the car off and check under the vehicle for any leaks. The use of a flashlight can help with this task. The lower part of the engine and the transmission may be somewhat wet, but no oil drips should be present. Prospective buyers should note that if the air conditioner has been running, water coming from the drain tube is to be expected.
Check the Oil
In order to check the oil, buyers should locate the oil dipstick and pull it out. They should then wipe the oil onto a rag and note its color. If the color is a light brown to clear, that is a positive sign. Clean or full oil does not, however, always mean that the engine is in good shape. The dealer could have changed the oil recently, so it is important to take that into consideration. However, if the oil is dark or black, that could indicate negative consumption of oil by the engine. The exception is with diesel engines, where black oil is normal. Carbon deposits along the length of the dipstick, which show up as dark stains, is also a negative sign. A light gray colored froth may be a sign of the car having overheated, as water has leaked into the engine, or a gasket could be blown. Customers should never purchase a vehicle that has overheated, as it can create major problems.
Take a Closer Look at the Engine
When taking a look at the engine, prospective buyers should consider whether the engine itself looks clean. Oftentimes, dealerships and private sellers will remove any previous signs of leaks or buildup by steam cleaning the engine. Buyers should look for remaining stains that could indicate fluid leaks. Repairing gaskets can be costly and if they are leaking, it can be a costly process to have to undertake. If there are new spots of silicone in the gaskets or if there are areas that have been repaired (which are known as spot repairs), it could lead to the need for future replacements down the road. The engine may even need to be taken apart to replace these gaskets, which can be very costly. Buyers should note, however, that water coming from an air conditioning compressor is very normal if the air conditioning has been running. In order to check the engine, a flashlight can be shined inside the oil-fill cap to look at the internal surfaces. If there is any kind of buildup or sludge, it can be indicative of negligence in terms of oil changes and maintenance.
The Timing Belt
Buyers should try to determine whether the timing belt has been changed. Usually, timing belts need to be replaced every 60,000 to 100,000 miles and are an added cost of buying a used vehicle when the buyer is expected to replace it. Buyers should make sure to ask sellers if they have receipts. Timing belts are usually difficult to view because there is a cover protecting them and obstructing them from view.
Signs of Neglect
Bulging gaskets, loose wires, and stripped or dry and cracked belts are all signs of a bad engine. If these issues are present, the engine has simply not been maintained properly. If buyers are unsure about what a bulging gasket looks like, for example, they should be sure to search for pictures online so that they can identify this problem.
Conduct Final Research
If a vehicle presents itself as not having any problems that a buyer is not willing to assume responsibility for, the car
Haggling over the price of a car is an essential element of the buying process, so knowing how to do it properly could save you thousands of pounds.
If you’re buying a new car from a dealer, the bigger and more expensive it is, the more profit there is built in for the manufacturers