New Car Blog

Alan Jordan asked:


Considering a new car? Think about your affordability of spending, and other factors of resale value, maintenance, and insurance costs. Determine the price of the car you have chosen. But some of time it becomes daunting task shopping for a new car. However, there are many ways to buy a new car, and for financial assistance many loans, in which new car loans are best suited to the individuals wish to avail new cars.

New Car Loans are probably the cheapest way to buy new cars. As personal loan providers tend to offer lower interest rates than traditional other car financing methods. Borrowers are optioned with two methods of availing the benefits of new car loans. One is secured forms of new car loans, whereas other is unsecured forms of new car loans. For the former forms of financial provisions, candidates are required to arrange collateral as of security of the new car loans. To the contrary, the latter forms of unsecured new car loans in which pledging placing does not create hindrance, at offering new car loans without collateral ceremony.

To access companies who may offer you new car loans, you can start searching from anywhere either online or offline. And do not forget, when looking for new car loans, not only check out the monthly repayments, but look at how much interest you will be charged and over what period. That way you get an affordable loan that you are comfortable making repayments with rather than one that eats into your bank balance every month.

Buying a new car, individuals’ chances are that they may not be able to afford it all up front. And this is where an online new car loans come in. New car loans allow you to finance a new car in affordable monthly repayments. Sometimes, an online car loans will be exclusive to the internet, meaning you may get a better deal than you would if you went through the normal channels.



ALEXIA

William asked:


When you’re trying to find that perfect car, it is easy to fall prey to smooth talking salesman, we have all experienced the Shark and Minnow type feeling, getting smooth talked while having that bad feeling on the inside. It happens everywhere in each state, in each city, generally multiple times. But why is this? We all need a car, but why is the sales model so crappy to be blunt. Where does the root lie? And it is a lie.

It all starts with a need, or what we think we need. But where does this need come from? As you guess it, I have the answer, status. In America, we are bombarded with constant advertisements of the American dream with the pretty wife and the fit husband and the better than average behaving kid. We see these things and immediately we reference our life thermometer and it just doesn’t seem to match up, almost no ones does. But we want this, we want this dream that has been sold to us, or at least we think we want it, and if we don’t want it, our peers want it and they talk about it and then the need nestles itself into our heart and mind, thus creating a drive for better things. It’s called the Jones’ we must keep up with them, but why? We have been told so, therefore it must be true.

Car salesmen and car companies feed on this imaginary but very real desire and create pristine car commercials with appealing ads that are entertaining to watch. They show pictures of people feeling relieved, happy, satisfied and other good emotions that we crave on a daily basis. But the truth is, happiness is being debt free, not getting into more debt buying a car we don’t need and a payment we cannot afford. I wish sometimes the car commercials would show someone not being able to afford a car payment or repossession, but that is just the Pollyanna in me that would want to create a pefect world.

So now we have a person who cannot afford a car, sitting in it, thinking “This is it!” I have arrived, and nine times out of ten it is only a feeling that has been accepted in society for us to feel. The realism then sets in when they get the car payments that can be outrageous. The sad part is that most of the lower model cars, such a Cavaliers are sold more than any car on the market, they are “affordable” to whose income is under 40,000 per year. I should know, I almost bought one! This article is not intended to be a downer, but more of a wake up call for one to analyze the actually need or want when buying a new car.



MAYRA

Apurva Shree asked:


Today the market is flooded with new and stylish cars attracting car lovers. New car loans are offered to those who are particularly interested in buying a new car. However, most of these new cars do not fit into the budget of the car buyers. Now even if you are low on resources and still yearn for a swanky car then new car loans can be the solution.

There are many ways to own a car – buying one is the most common method. New car loans are not difficult to get as there are many lenders in the market offering such loans. There are even online car loans and financial websites that the borrowers can exploit to get the loan that best suits their needs.

While taking new car loans, one has to be careful about the rates of interest as well as the repayment period of the loans that are offered. Loans can either be secured or unsecured. Secured car loans require that your property must be given as security. If however you do not want to put your property at the risk then it would be better to take up an unsecured loan. Even if you are a tenant or a student living in your parents house and do not have any property in your name, you can take up an unsecured loan.

Unsecured loans require slightly higher rates of interest as compared to secured loans as there is no security in unsecured loans and the lenders are afraid of losses. Secured loans are secured against property and so the risk here is lesser.

Before accepting a loan offer one must research and study the different rates of interest and the repayment periods. The combination of interest rate and repayment period that suits you best should be accepted. If the interest rates are low then it will be easier for you to repay the loans. If you manage to get the best combination then the loan will be a blessing to you and will help you buy your favorite car.



JOHNATHON

Charles Brown asked:


Sooner or later everybody has to buy a new car. And chances are you’ve already bought your fair share of new and used cars by now–and you haven’t always gotten the deal you wanted. Even if you think you have, trust me–you haven’t. It doesn’t matter if it’s your fourth new car or your first, it is inevitable. Of course, we all know that there is an art to buying a new car that we should know sooner or later. And the sooner you learn this “art,” the better!

Everyone knows that there are haggling methods to getting a car at a reasonable price. Dealerships and private sellers rarely mark the car’s actual worth. Instead, they mark the price up so that they can clear a good profit for themselves. Some dealerships mark the prices up so that their salesmen will have a greater incentive to sell the cars for them. Now, there’s nothing wrong with any business making a profit. After all, it’s the American Way. But you stand to save thousands if you do a little homework BEFORE car shopping–whether you’re shopping online for a new car or not.

But almost all dealerships can be talked down on their initial prices, if you know how to haggle properly. And haggling is not hard at all–even for super-shy people–if they’re prepared. Preparation is everything. The savvy buyer will know that he can talk the dealership’s prices down at least a little. That’s IF he knows the dealer’s lingo and tricks beforehand and shows that he’s prepared to deal with them. That’s how you want to arrive at the dealership: prepared. I don’t care if you’re the shyest person

in the world, if you’re prepared, you’ll actually look forward to your new car buying experience!

Salesmen speak their own language, and to know when you are being sold on something that you don’t want, you need to know how to speak the same language as the salesmen do.

If you want to save money by negotiating, you should negotiate from the dealer cost up and not from the MSRP down. But you need to remember that the dealer cost is not the same as the factory invoice–the dealer cost is always less than the factory invoice. Go to DealersInvoice.com and figure the dealer cost by subtracting from the dealer’s invoice such things as “dealer’s incentive” and “dealer holdback.” This will give you the dealer’s cost.

Some dealerships refuse to haggle over the cost of a car. But once you make your opening offer you should never accept anything higher than that, as far as costs go. If the dealership that you go to doesn’t haggle, don’t sweat it. Some other dealership will. The reason some dealerships refuse to haggle is because they want to add extra fees to the MSRP. You need to decide what kind of buyer you are in order to get a negotiating stance.

You do not want to set yourself up as a monthly payment buyer because that is a guaranteed way for you to pay more for the car than it’s worth. You can expect them to offer to reduce the price a little from the MSRP. They will then ask you what you are looking to pay each month; this is where they get you to pay extra money. So don’t negotiate from a monthly payment position at all.

The dealer will ask you, “What are you willing to pay each month?” Don’t fall for this trap. Tell them that you want to haggle over the COST of the car, NOT the monthly payments. And be alert for a finance manager trying to get you to report your payment method BEFORE you have decided upon purchasing the car. Don’t be ****** into the trap!

Remember that the method of payment doesn’t matter unless you have decided to actually buy the car. Finance managers ask so that they can do their ‘homework’ on how best to ***** you over.

Buying a car doesn’t have to be scary and it doesn’t have to be the worst experience of your life. Many people dread buying a new car because they know that they are likely going to get ripped off. And 9 times out of 10, they’re right. But not you, because now you know about this resource!



KIMBERLY

MARK WARNE asked:


Introduction

Dreaming to get a new car and wonder how to get the best financing for it? While others are simply getting their new cars and buying it with whatever deal the dealer gives them, you know you can get better auto loan deal. Need a better auto loan help us a better deal for our dream with some preliminary steps?

Types

You can avail car need a better auto loan in two forms secured and unsecured. In case of secured car loan you have to put car as collateral against the loan, but for the second type of unsecured loan there is no such need. Though secured car loans will get the amount at comparatively lower interest rate there will always be the risk of losing your security.

Tips for better deal

Getting preapproved means that a lender looks at your credit situation and you are then given a credit limit and a blank check for your auto loan. All you need to do next is to find the car you want, and pay for it with the check.

In order to save even more money, though, you need to select a car or two that you want to buy in advance. You do this because you know that a particular make and model fit within the credit limit of the preapproved check. Once you have a car in mind, you then need to investigate what kind of prices you can find for it in the market, and what is the cost of the car.

It is a good idea to have a copy of your credit report with you when you see the dealer. Sometimes a dealer will try to tell you that you have bad credit and make you accept a higher interest charge because of it.

There are plenty of places on the Internet where you can find auto financing. It’s really sweet and fastest deal. When the contract is being filled out, make sure that you clearly understand what everything on it is for.



GAIL

Car Loans asked:


When you are looking to buy a car with bad or poor credit it doesn’t leave buyers with lots of options. Occasionally their only choice for finding a lender for their new car purchase is through a car dealer loan.

Car dealership loan deals are not as bad as a lot of people may think. However, it is certainly true that they may hide a lot of surprises so if you are in fact planning to use a Car Credit Loan you should be extra vigilant.

The first thing that you need to watch out for is if the interest rate happens to be fixed. By fixed I mean that it’s clearly stated in your contract and that all of it is written in a way that it wouldn’t allow the car dealership to change it at a later date. What lots of car dealerships tend to do is approve your car loan application, have you sign the documents, and hand you over the car. After that later on they just give you a phone call and state that in fact you do not qualify for the loan because you have poor credit (which is something you already knew to begin with) and that you must pay higher interest rates in order to keep the car. If you fall into this situation you should try to either find a loan from another lender or report the scam and fight back.

Another extremely popular scam done by car dealers is to make you look for a cosigner for your loan convincing you that this is the absolutely only way that you can get financing since you have a terrible credit history. It won’t be difficult to convince you at all. First of all it sounds pretty reasonable and second of all the car dealer will cause you to believe that this will in fact repair your poor credit profile. Later on you will discover that your name isn’t including in the loan documents and that the loan is in the name of the cosigner only even though you are paying it . Not only is this illegal but it also may lead to serious penalties but it’s not helping your poor credit at all. If a dealerhship offers such a thing you absolutely must refuse.

If you’re a poor credit consumer and have difficulties in finding a good loan, it’s pretty obvious that you shouldn’t overstretch yourself. What this mean is to buy a reasonably priced vehicle and not to buy into all of the extras like the extended warranties for example. However, many different Bad Credit Auto Loan will end up trying to trick you by making you believe that you must buy a warranty that will increase your loan just to qualify. Since you are in a desperate situation you would end up saying Ok. However, if you for one second think about it, you can plain as day see this is simply a trick to increase your loan costs.



ROMEO

David Neehly asked:


A new car is a major expense in anyone’s language. You only have to consider that what we now spend on an average priced new car is roughly what our parents spent to buy a new house a generation ago. A five or ten percent difference in the price on a purchase of this size can prove very costly.!

So, it’s clear that a new car purchase needs to be properly thought through. It’s imperative to do your research to ensure you get a great deal. Here are a few tips to help you get that great deal!

Tip #1 … Take your time. Car dealers thrive on making you think “todays special” will be gone tomorrow. Not true. Make it obvious that you have “all the time in the world” to buy a car. That gives you the upper hand in negotiations right from the start.

Tip #2 … Do your own research. You have to know a cars real value “before” you go shopping. The internet is a wonderful resource for finding out true car values. You can find out the average retail and wholesale costs of a specific make and model. These two pieces of information are vital to assess a good deal from a dud.

Tip #3 … Leave some profit for the dealer. They need to make some money on the deal, and you want to pay a fair price. This is where knowing your values are vital. You can often negotiate a price that’s maybe only $500 above dealer cost. Any dealer would sooner sell 3 cars a day and make $500 on each than sell one per day and make $1000 on each. You have to know how far you can squeeze them.!

Tip #4 … Only pay for the options you want. You may have to wait a few weeks for delivery to get exactly what you want, at the price you want. This is much better than “getting $5000 worth of extras for only $2000″ if those accessories that are of no use to you.

Tip #5 … Go car shopping near the end of the month. Most dealerships, and their salespeople, have sales budgets to meet. They’ll be much more likely to sweeten the deals near the end of the month to make the months figures look a little better.

Tip #6 … Negotiate your trade in value seperately. Dealers will always try to cloud the figures by offering you a “cash difference” figure. This just confuses the value being given to each vehicle. Keep it simple, and settle on the new car purchase price first, then negotiate the trade-in value. That way there are no tricks, and each car has a direct value you can assess for yourself.

Tip #7 … Stick to you assessment of car values. Salespeople undergo a lot of training to enable them to convince you that they are experts and you aren’t. Research doesn’t lie, but salepeople often do. Back yourself, and walk away from any salesperson that thinks they are smarter than you, or tries to “pull the wool over your eyes”.

Tip #8 … Make sure the car has a great warranty. New cars these days are backed by some outstanding factory warranties. An extra year or two of warranty can be worth both, a lot of money and a lot of peace of mind. You never get a second chance to get a new car warranty, so go for the best you can get. Dealers with top quality cars aren’t afraid to warranty them.

Tip #9 … Ask all your questions up front – even the silly ones. Whatever you do, always read the fine print of the sales contract before signing it. If anything is unclear, ask. Contracts usually contain legal jargon, if you are in any doubt at all about what something means, ask to have it explained before you sign.

Tip #10 … Take the car for a good, long test drive. Get the feel of the car before you take it home. If you aren’t a particularly “mechanical person”, get someone who is, to come for a ride with you. Most new cars a in near perfect condition, but if yours isn’t, you want to know now, not later. The dealer wants to clinch the deal now, so they’ll fix any minor defects immediately. Make sure they do.

I’m sure if you follow these 10 simple tips, you’ll have a very pleasant new car buying experience. In short, do your research, know your stuff, and you’ll walk away with the car you want, and the deal you want.!



KAREEM

Tom O’leary asked:


Purchasing a new car extended warranty can be expensive. Yet, they can be a financial life-preserver should anything ever happen to your car or truck. Here are eight scenarios that detail whether you should purchase an extended warranty the next time you buy a new car, truck, van or suv.

SCENARIO 1: If you are Single, with no family obligations, make less than $40,000 per year and plan on keeping your new car or truck at least 5 years – Consider an extended warranty. Why’s that?

Well, I’ve found that most in this scenario are either recent college grads just starting out on there own or those that work in a specific trade.

The recent graduates are still trying to pay off huge student loans and deal with all the other normal expenses associated with life on-their-own. That situation severely limits their expendable cash resources.

For those in a specific Trade – most enjoy a comfortable lifestyle and a large, unexpected, out-of-warranty repair can put a painful cramp in that lifestyle.

SCENARIO 2: For those single folks with no family obligations that make more than $40,000 per year and plan on keeping your new car or truck at least 5 years – Skip the extended car warranty. For most in this group, a large, unexpected repair is affordable. The only exception to this scenario are those stuck in a week-to-week paycheck mode – you might want to consider a warranty.

SCENARIO 3: If you are married, with no family obligations, make less than $60,000 per year and plan on keeping your new car or truck at least 5 years – Consider an extended warranty. Why? For the same reasons listed in Scenario 1.

SCENARIO 4: If you are Married, with no family obligations, make more than $60,000 per year and plan on keeping your new car or truck at least 5 years – Skip the extended warranty. Why? For the same reasons listed in Scenario 2.

SCENARIO 5: If you are married, with kids, make less than $60,000 per year and plan on keeping your new car or truck at least 5 years – Consider an extended warranty. Most folks in this situation are stretched to the limits already. Family obligations usually limit expendable cash and an expensive repair will be financially painful.

SCENARIO 6: If you are Married, with kids, make more than $60,000 per year and plan on keeping your new car or truck at least 5 years – Skip the extended car warranty. Why? Typically these folks do have some expendable income and can handle the cost of a large out-of-warranty repair. However, if this scenario fit’s you, and you’re over-your-head in Credit Card Debt and other bills….it might be wise to look at a warranty.

SCENARIO 7: Those who are leasing or plan on getting rid of the car, truck, van or suv before the Manufacturer’s Warranty runs out, skip the extended warranty. Why pay extra for coverage you don’t need.

SCENARIO 8: Those who plan on “driving-the-car-till-the-wheels-fall-off” – Consider skipping the extended warranty as well. The Cost vs. Benefit just isn’t attractive for folks who keep cars for a very long time.

I’ve found that 99.9% of all new car buyers match one of these scenarios – just use the one that fits your particular situation.



TOYA

Julia Russell asked:


The need of a new car may strike you now and again, but finances for the same are a limiting factor. For a common man, it is not possible to purchase a car with a down payment. He certainly needs some outside help to finance his car. This help can be provided by car loans.

Car loans help the borrower purchase any car that he wants to own. He can get the car financed for any purpose, personal or commercial. The car can be a new car or a used car.

The borrower can obtain car loans as secured or unsecured car loans. For the secured car loans, the borrower is required to pledge an asset as collateral for the loan. His house or the car itself can act as the collateral. This helps the borrower in obtaining a lower rate of interest. However, for the unsecured car loans, the borrower is not required to pledge collateral. The repayment term for car loans is 5-7 years.

The borrowers should decide beforehand what car he wants to buy. This will help him apply for an exact amount through the car loans. For the cost of the car, he should research for the market price of the car, especially if he wants to buy a used car. Only after the car loans are approved, he should approach the car dealer to make the car deal. This is suggested to the borrower so that he does not make any momentary decisions and make a higher deal which he has problems repaying later on.

Bad credit borrowers can also apply for car loans. Though they are charged a comparatively higher rate of interest to cut the risk factor, these rates can be lowered by proper research and comparison.

Online comparison of the quotes sent by numerous lenders present online helps the borrower in obtaining the lowest possible rates of interest. These rates are lowered due to the cut throat competition in the online market.

With car loans, it has now become possible for the common man to purchase a car and fulfill the needs of himself and his family.



MALCOM

anonymous asked:


Last weekend I was out looking to buy a new car – a Holden Calais 60th anniversary edition in fact. I had been to a few dealerships and finally made a decision to buy. The salesman asked whether I had pre-arranged a new car loan. I hadn’t done so and as a result I was ushered into the office and bombarded with a whole heap of numbers relating to a proposed new car loan. What I couldn’t understand was how instead of telling me an interest rate the dealer focused on the monthly installment and making sure I was happy with that. He juggled around with the residual value so that the new car loan amount was reduced when I indicated that I would struggle with the new car loan payments he first calculated. It’s funny how when you are considering a new car loan all you want is..to take delivery!! You don’t often take the time to run the numbers and actually establish just what interest you are paying. I decided to contact my mortgage broker – he had looked after me when I had recently applied for a cheap home loan and at the time had said he could also help with a new car loan if I was ever in the market. I am always astounded at the level of knowledge of my mortgage broker. He has his finger on the pulse – not just with mortgage finance but also with new car finance. He knows who is in the market, what their terms and conditions are, who is offering the best rate… why a new car loan with Lender A might be better than a new car loan with Lender B even though the monthly installment due with Lender B is lower than the new car loan repayment with Lender A. What really surprised me was threat my mortgage broker was also able to source me the identical car at a lower price. It seems that some mortgage brokers and lease brokers have arrangements in place with car dealerships whereby they can get the car cheaper. This is apparently because car dealerships often have a bonus structure operating and if a certain volume of cars are sold within a month then the bonus kicks in from the manufacturer. If say a car dealer needs to sell 30 cars in the month and coming in to the end of that month he is sitting at 28 cars then the bonus amount he will lose if he does not reach his volume target will be significantly higher than the amount by which he could discount the sale price to you. This guy is not worrying about the new car loan he just wants to ensure the target is reached. He’ll worry about the new car loan once he has secured the deal with you. As a random buyer you are not aware of these statistics but where a mortgage broker or lease broker deals with new car finance they will often know where the car dealership’s sales are at and whether the timing might be right to negotiate a good deal. I ended up a very happy chappie because I obtained a new car at a lower price with a new car loan that really suited me well.

Last weekend I was out looking to buy a new car – a Holden Calais 60th anniversary edition in fact. I had been to a few dealerships and finally made a decision to buy. The salesman asked whether I had pre-arranged a new car loan. I hadn’t done so and as a result I was ushered into the office and bombarded with a whole heap of numbers relating to a proposed new car loan. What I couldn’t understand was how instead of telling me an interest rate the dealer focused on the monthly installment and making sure I was happy with that. He juggled around with the residual value so that the new car loan amount was reduced when I indicated that I would struggle with the new car loan payments he first calculated. It’s funny how when you are considering a new car loan all you want is..to take delivery!! You don’t often take the time to run the numbers and actually establish just what interest you are paying. I decided to contact my mortgage broker – he had looked after me when I had recently applied for a cheap home loan and at the time had said he could also help with a new car loan if I was ever in the market. I am always astounded at the level of knowledge of my mortgage broker. He has his finger on the pulse – not just with mortgage finance but also with new car finance. He knows who is in the market, what their terms and conditions are, who is offering the best rate… why a new car loan with Lender A might be better than a new car loan with Lender B even though the monthly installment due with Lender B is lower than the new car loan repayment with Lender A. What really surprised me was threat my mortgage broker was also able to source me the identical car at a lower price. It seems that some mortgage brokers and lease brokers have arrangements in place with car dealerships whereby they can get the car cheaper. This is apparently because car dealerships often have a bonus structure operating and if a certain volume of cars are sold within a month then the bonus kicks in from the manufacturer. If say a car dealer needs to sell 30 cars in the month and coming in to the end of that month he is sitting at 28 cars then the bonus amount he will lose if he does not reach his volume target will be significantly higher than the amount by which he could discount the sale price to you. This guy is not worrying about the new car loan he just wants to ensure the target is reached. He’ll worry about the new car loan once he has secured the deal with you. As a random buyer you are not aware of these statistics but where a mortgage broker or lease broker deals with new car finance they will often know where the car dealership’s sales are at and whether the timing might be right to negotiate a good deal. I ended up a very happy chappie because I obtained a new car at a lower price with a new car loan that really suited me well.



RONNIE