Pickup Trucks

With the hype about interest rates, economic crunch and tightening our belts people have begun to really investigate automobile loans in greater numbers than ever before. Prior to getting or re-financing a vehicle loan people want to know exactly what the figures actually mean to them and just how long they are having to pay and what the real purchase price is.

The Trend Of Lengthier Automotive Loan Terms

In case a buyer can’t find lower interest rates or is interested in the most affordable interest rate possible then they may move toward financing for extended amounts of time to reduce the payment amount. A three-year auto loan was once popular however more and more brand new car buyers tend to be going for extended-term funding.

This could be a choice however it could also mean that someone buying a new automobile will be paying out on interest for a whole lot longer. Less of every monthly payment goes toward the principal debt which of course means more will be owed on the auto.

If they trade in before they’ve paid off sufficient costs on the car loan, they might actually owe much more on the auto than the worth of the car. Together with shopping for interest rates on car or truck loans, you should try and pre-qualify for a loan of preference prior to shopping. You probably know how much you will be paying, how much you really can afford and do not need to make use of the dealership loan providers.

Longer-term loans are an option but look at also increasing your down payment amount of money on the automobile so you don’t end up in a hole whenever it is time to get a brand new car.

Bad Credit Car Loans

Persons with a bad credit scores might find themselves having to pay far more in rates of interest than people that have good credit. That’s a given, however looking around even with a bad credit score helps to reduce the rates of interest for everybody.

Perhaps alternatives will be more limited however applying for a loan before getting the automobile and learning just what the installments are going to be month after month is a strategy for the person with poor credit to manage the lowest rates conceivable.

Shop around, and then shop even more to evaluate rates and terms. You need to know precisely what rates you will end up paying in interest, exactly what the finance charges will be in full and how much exactly the total price of the automobile is going to be. Find out your exact credit score so you can thoroughly clean it before applying for your car loan. Get those marks off of your score so you will spend less over the long run.

Pre-owned Car Loans

Used cars are attaining a bigger share of the current market. Finance costs may actually be lower for these types of cars and trucks as they have taken the largest hit to their cost when they drive out of the lot.

Overall rates of interest for used cars may perhaps be cheaper as the total borrowed amount is less makes sure you check this previous to picking a pre-owned motor vehicle and do not just base your decision to purchase a pre-owned car or truck on rates of interest. You will discover pitfalls to purchasing a pre-owned auto in addition to advantages.

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Technorati Tags: car credit, car finance, car loan, refinancing car, used car

There are a couple of things I know about cars. The first? Always reverse into a parking space to allow for ease of escape/exit. The second? If you are buying a used car on higher purchase then you need to ensure that you intend to insure it fully comprenhesive. In the worst case scenario if you drive the car into, let’s say a brick wall, then you are not still paying off your installments on a car which has been written off.

In the UK alone, the car used industry has a multimillion pound turnover and employs thousands of people in many capacities. I have heard some nightmare tales which have involved people buying stolen car or cars which are in a terribly bad state of repair. Thankfully, these incidents are rare compared to the thousands of used cars sold each year in the uk.

I’m on my seventh used car and have made many mistakes in my past purchases. The biggest tip I have is that before going to buy a car, make a plan and stick to it. Decide on what you want and the reasons you want it. If you want a sporty two seater than choose a car which will meet this requirement and don’t be tempted by flash sales talk about a 6 seater family car.

Now, work out what you can afford to pay as a deposit and on a monthly basis and don’t go over this even if you get a good deal on part exchange. Also, If you are unsure about the process of buying a car or are scared of being ripped off then go to a reputable garage.

Do as much research about the garage where you are buying the car from as possible. Check online, ask colleagues, family and friends, read the paper, look out for reviews, ring the RAC or AA – use all means available to you. This will certainly pay off in the long run.

Don’t shop alone, Take a friend even if they know little about cars, you can still gain support and valuable feedback on your experience.

Remember, never make a decision about such a huge purchase without having time to think about it. If the car is right for you then it will be still be there in the morning. And if it doesn’t feel right, then absolutely never ever part with any money. Good sales people will never try to push you into a purchase.

Buying a new care should be fun, I feel if you follow the above guidelines and remember to always reverse park you will have many hours of pleasure driving your new car.

For the best deal on a car service, visit www.rrg-group.com where you can also book MOT online.

Popularity: 4% [?]

Technorati Tags: automobiles, Automotive, car finance, cars, New Cars, used cars, vehicles

Many people look to used cars in order to save some money on their next purchase. When looking for a used car you obviously want to find one that is in good condition, drives well and one that you feel comfortable in. What many used car buyers don’t often do is carry out a data check first.

These data checks search the history of the car. They can indicate any finance that the previous owners have taken out on the car, whether the car has been involved in an accident or written-off in the past and whether the car is at risk of theft or fraud. Other details that a data check will tell you are the number of previous owners, registration details and the vehicle identification number.

Data checks are very important when buying a used car as some sellers may not be completely honest when trying to sell you their car or they may just not know about it if the car has had more than one previous owner. Some statistics from the AA’s website show how important car checks are; around 1 in 3 cars have some form of hidden history with a quarter of cars having some sort of finance agreement against them.

If a car was found to have existing finance secured against it in the name of a previous owner, you may become liable for the debt as the new owner. This means that a deal that you thought was easily within your budget, suddenly becomes over your budget. If you found you couldn’t manage the car’s repayments, this could have a negative effect on your credit history or the loss of the vehicle.

Around 160,000 cars are stolen and 600,000 cars written-off each year, so you can see how easy it would be to buy a used car that has a bad history. Another trick some dodgy used car sellers try is to adjust the mileage on the car so it appears to have done fewer miles. As many as 1 in 14 cars have mileage discrepancies and a simple data check would highlight any discrepancies.

There is no doubt that the popularity of used car finance is increasing as people look for a more affordable ways to upgrade their cars. As long as you carry out a data check on the car before you buy then you should be ok. Always check for any dents and scratches that the previous owner may have tried to cover up as you can use this when you negotiate on the price.

If you are looking for a quality used car then speak to a reputable car dealer about the range of car finance available, Most established car dealers will carry out vehicle checks as standard, saving you the trouble.

Popularity: 3% [?]

Technorati Tags: car finance, Car Tips, driving tips, motoring

We are in the middle of a full blown recession, yet people are still keen to own the latest new cars. No matter how much people are struggling they still love to go out and splash out their hard earned cash on a full blown top of the range motor.

Let’s have a look at a few reasons why people love new cars so much and why they are happy to struggle financially just to drive in luxury.

Peer Pressure
This is probably one of the main reasons why people are buying brand new cars. What is worse than going out in an old heap and then seeing your friends or a family member driving a fantastic top of the range car. People don’t want others to see that they are struggling, so they go out and buy a new vehicle even though they can’t afford to show everyone they have made it in there lives.

Show off
A lot of people want to purchase a new vehicle to show off, they adore all the attention they get from having people look at them when they stop next to traffic lights or pull up in a crowded area.

Speed
Some people love cars that go super fast and they know that by buying a new vehicle it will ultimately fill there thirst for driving at high speeds. New vehicles tend to be capable of much higher speeds. Even diesels are quite quick off the mark.

Relaxation
A lot of people just buy a new vehicle simply for the relaxation factor. This is especially true if people are travelling long distances on a daily basis. They want to unwind and have all of the latest technologies that are available.

Collectors
Some people are quite lucky to be well off. Some of these people are petrol-heads (or gear-heads) and they just love to buy the latest new cars. Their newly acquired cars can often end up unused, sitting on the front drive waiting to be sold off in a few months time. To many wealthy motor enthusiasts this doesn’t really matter as they will have the financial reserves needed to fee their car buying habit.

There is nothing wrong with buying a new vehicle; I myself tend always look at new cars. But make sure that you have the right finances in place to actually afford the vehicle as otherwise you may end up getting yourself into a lot of debt and effectively the debt company may well take back the vehicle from you, leaving you with nothing.

I recommend car leasing as a sensible way to finance the acquisition of all new vehicles. I have my 5 series BMW on a very affordable BMW lease deal and all of my companies commercial vehicles are on very cheap van lease contracts.

Popularity: 3% [?]

Technorati Tags: auto finance, automobiles, car finance, car leasing, cheap new cars, motoring

Getting car insurance is probably top of the list of headaches when buying a new or used car, seen by many as an extra expense that they could do without, especially for younger drivers.  The task of getting car insurance can be a bewildering affair if you haven’t dealt with all the jargon and legalese before. 

With a little bit of research on the key terms you could easily understand what to do, the first thing to understand is that in the UK car insurance is a legal requirement, and you must have the minimum level of coverage (third party coverage) in order to drive in the UK. 

This is the minimum level of insurance available, aside from this there is third party fire and theft which covers your own vehicle as well but only for the stated instances (a fire or a theft). Other than that if you were to cause or be the victim in an accident or collision then your own vehicle would not be covered.  This would mean depending on the level of damage suffered you would have to pay for the repairs or declare it as a write-off.

A write-off is where the car has a very low value and the cost of repairs is more than the cost of replacing the car.  If you have a much older, low-value car then this is possibly the best option for you.  If, however your car is new or still has a high value then you will want to get fully-comprehensive cover.  This is the most expensive policy and most popular among drivers as it covers all damage your car receives.

Typically this policy comes with the highest premium, the amount you have to pay.  There are ways to lower your premium such as opting to pay more on your excess. This is a good idea for very safe drivers who have never had to make a claim in the past.  There are other ways to get cheaper insurance, such as using your car less especially during rush hour traffic as this has a higher chance of being involved in an accident.

When choosing your car insurance provider and policy it is best to get a few quotes from different providers as they may be more competitive with their pricing.  If you take the time to go through the wealth of information out there then you’ll be better equipped to find the right provider and coverage for you.

Related topics include used car loans, yes car credit and car credit

Popularity: 2% [?]

Technorati Tags: car finance, car insurance

Now that the cheapest car – India’s Tata Nano – has been released, the question rises as to what makes cars so terribly expensive. And with the four-wheeled wonder-car costing just over a thousand pounds, this is indeed a burning question. 

Tata – who last year purchased Jaguar and Land Rover brands from Ford – has been struggling with the long-anticipated release. The factory that was originally set to manufacture the Nano cars was closed down due to the unsettled dispute with the landowners in the province where the land for the factory was. The experts predict that the released car will not be making money for its owner for a long time. Even in the short run the return on demand is expected to be low: whilst the cheap car is many a driver’s dream, the supply is likely to struggle to satisfy the interest. 

At the moment, however, Tata Nano is making some noise in the industry because of its outstandingly low price. It costs 100,000 rupees, or £1,366.00, or $1,979.00, and is essentially a dream of many wannabe car owners. It is also the one car when we have to speak not of what it has, but rather of what it has not – and here is the list:

- No air conditioning on standard car;

- No automatic window opening – you have to use the good old handle;

- No automatic steering – only manual;

- No air bag;

As BBC News reports, Tata Nano’s maximum speed is 105km (65mph), it has got a small 15-litre (3.3 gallon) fuel tank, and its bodywork is made of sheet metal and plastic which makes it weigh the mere 600 kg. Plastic (or adhesive) also replaces welding. If the above does not conjure an image of a reliable car, then listen to the BBC correspondent who drove the Nano. Hormazd Sorabjee delights in Tata Nano’s sturdiness; the ease of getting in and out of the car is miles better than in your average Mercedes S-class. To judge by his other comments, the Nano is the next step up from riding a scooter, which makes it potentially ideal for new drivers. Yet the weight is of overall importance – for the five-seater in India is expected to carry twice its load. And although the fuel tank is very small, one litre can apparently last from 18 to 20 kilometres. 

This breakdown teaches us that we are too used to having our cars equipped with every imaginable gadget at the time of purchase. It turns out that you need to have neither air conditioning, nor a GPS steering system to drive a car.  Even an air bag is unnecessary. But what if you wanted to add those features? Judging from various online resources, one air bag can cost at least $1,000; the lowest price for installing air con would be between $2,000 and $4,000; and the GPS automatic steering system would start at under $1,000 and go up to between $25K-30K.  If the owner of the basic Tata Nano wanted to add these features, then even with the cheapest additions the car price would rise up to under $6,000. 

Still, a low-speed vehicle with high-positioned seats, a small fuel tank, and without an air bag is highly tipped to become the safest car out there. Maybe this is the real value of Tata Nano? Whether you answer no or yes car credit and car loans can still be arranged by some vendors depending on your circumstances and selected vehicle.

Popularity: 3% [?]

Technorati Tags: car finance, car loans

If you have ever thought that recycling a car is easy and straightforward, think again. This is not about quietly abandoning your car on the roadside in the hope that it may be picked up by the police. Neither should car recycling be done at home. Recycling your car is all about doing a big favour to yourself and your environment. 

Why recycling, you wonder? Well, recycling IS one of those frequently used words today, and for a good reason, too. Too much pollution and the increased impact of the green house effect caused some of us to speculate for long our planet continues functioning without a break. Perhaps, we could think of planet as a car: overload it with too many gadgets, do not clean in or take to the garage regularly, and before long it does not pass the MOT test. Cars can be recycled and changed for new ones. But there is only one planet Earth. 

So, we are urged to help protect our planet, and taking a car that need to be recycled to the scrap yard may be a step to make. This happens usually when the car did not pass the MOT test, or when it is too old or too damaged. 

But exactly what happens at the scrap yard? First of all, they will remove electrical sources from your car, usually the car battery. They then drain the hazardous chemicals, thus helping to depolluting your car; and then they take out tyres and usable parts. The latter may be anything from an engine (when it is in a good condition) or speakers for an in-car stereo. 

This may sound strange. The very nature of a scrap yard suggests that your dear old vehicle is simply going to be smashed. This is not true, and for that consider the term “recycle”: it means to prepare something to be used again. So it is only normal that a scrap car dealer will “undo” your vehicle to remove any parts that can be reused. 

In short, if you have an old car which cannot be used or resold, do consider taking it to the scrap yard where they will dismantle and recycle it in the environmentally friendly way. You may even get a small payment to help towards a new car loan or car finance payment.

Popularity: 5% [?]

Technorati Tags: car finance, car loan

Normally at the end of a vehicles contract hire term the finance company will arrange to collect your car, they do not generally offer the car for sale. You can however ask them for a price for the car but will the price at which they offer it to you be a bargain?

Probably not, what they will usually do is make an assessment as what they think they will get in the trade, which is usually on the optimistic side and then take a price between that and the retail price of the car. They presumably work on the basis that as you are not a trade buyer, they have no reason to offer it to you at trade price.

So is it a good deal to buy your contract hire car, perhaps for you wife or one of the children to use? Well of course one of the advantages you have is that you know the car, you know how it has been driven and also its history, for example if there has been any damage you will presumably know it has been repaired properly.

Although they should not, it is not unheard of for the hirers of contract hire vehicles to have damaged bodywork repaired at a local garage rather than the main agent. Sometimes this can affect the anti corrosion warranty. If the finance company becomes aware of this on the vehicles return, it can be costly for the hirer.

What will happen to your vehicle if you don’t buy it? It varies depending on the finance company but often they are sold through the auctions. Some are however now selling their vehicles on EBay, which has proved quite successful.

It would be nice to buy your car at a lower price than it was offered to you by the finance company and if you were sure it was going to be sold at auction and you knew which one, you probably could.

Alternatively you could go to the auctions and buy an ex lease car but it can have its drawbacks. Firstly you would be buying somebody else’s car, so unlike your own car you wouldn’t know how it has been treated and by the time you bought it would usually be outside its warranty.

Private buyers do buy at auctions but auctions are really best suited and geared to trade buyers, sometimes private buyers miss vital warning signs on a car that trade buyers will pick up on. Some ex contract hire cars are sold with “no major defects” which means that if it is found to have a major defect, the vehicle can be rejected but only either on, or shortly after the day of sale. Others are sold on a “bought as seen” basis. However this cannot be interpreted that there is something wrong with the car, it is just some company’s policy to sell all their vehicles in this way.

Private buyers can often be seen paying far too much for cars, as they get carried away with excitement of the moment. Trade buyers know what they want to pay for a car, that’s not to say that they don’t sometimes get tempted in to paying a little more but not too much more. Whereas private buyers sometimes can’t seem to stop bidding and auctioneers have been known to take “bids off the wall”, this is where a very enthusiastic private bidder, who is clearly not going to stop bidding, is bidding against a non existent bidder.

Overall ex lease cars can be quite a good buy, particularly if you can find one that is being sold after 24 months; it means it will usually have a further year warranty, so you would have little to worry about in terms of the mechanical condition of the vehicle, because it would be covered by the warranty. Most warrantees have the option to renew them on an annual basis, up until the vehicle has done 100,000 miles but there are some exceptions to this.

Its always best to make sure that the service history is up to date when purchasing an ex lease car; if there were a service overdue or missed you would expect this to be checked when the vehicle was returned but errors are made and of course the manufacturer is unlikely to honour the warranty if the vehicle has not been serviced properly. If you are able to buy the vehicle you have been driving for the past two or three years, that would always be your safest option.

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Technorati Tags: Automotive, car finance, contract hire, hire purchase