Financing A New Car
By Chuck Brown
For most people, paying cash for a new car isn't even a possibility. Even if you do have the cash, you don't want to deplete your savings. So financing a new car is the only choice. In any case, you probably shouldn't even attempt to finance your car with a car dealership to begin with. Although it's fast, it's high pressure and the loans are often front-loaded--which means that the payments in the beginning are mostly interest. This makes paying it off early not even worthwhile; the dealership gets their money first and laughs all the way to the bank!
Even if the loan is not "front loaded," there are other ways that the dealership will get more money out of you than if you get your car financing elsewhere. It's important to remember that the finance manager at a car dealership works on commission. This means that he will try to get all sorts of things added on to your car's price. Things like an extended warranty, undercoating, alarm system, etc. He will try to upsell you on those things AFTER you've agreed to a price with the car salesman.
Remember this: The Finance and Insurance (F&I) department at car dealerships is often a bigger source of profit for dealerships than the sales department. This is how it works: The "finance manager" sends your credit info to the lender (bank) that they deal with, and the bank returns a table of interest rates based on the term (number of payments.) The finance manager then takes the lowest interest rate and marks it up. This markup is the dealership's profit on the financing and they are NOT required by any law to reveal how much they have marked it up.
This is called the Retail Installment Sales Contract (RISC). And incredible though it may seem, but a 0% loan rate offered at a dealership can often be beat by a 8% or higher rate gotten elsewhere. Because they have more in their magic "Bag 'O Tricks" than meets the eye: Often manufacturers will offer a Factory-to-Consumer Rebate on certain models if they notice that these models are not moving as fast as they would like. So they give the dealers an incentive to sell these by offering this rebate. But know that the rebates usually don't apply if you get the 0% interest rate. Because that means that you'll have shorter terms and so the overall price will be lower--so there's no need to offer a rebate...
Here's where you can save with a 8% or higher rate over the 0% interest rate: Take the Factory-to-Consumer Rebate elsewhere (like to your own bank) and finance the car there. Apply the rebate and you'll likely pay less for your 8% loan than for the 0% loan at the dealership!
Financing a new or used car should be done at anyplace other than the dealership. Ideally, arrange financing BEFORE stepping onto the dealer's lot. This puts YOU in the driver's seat.
Charles Brown is a successful Webmaster and publisher. He provides lots more information on financing a new car on his website.
Article Source: http://EzineArticles.com/?expert=Chuck_Brown
http://EzineArticles.com/?Financing-A-New-Car&id=454323
For most people, paying cash for a new car isn't even a possibility. Because even if you do have the cash, you don't want to deplete your savings. So financing a new car is the only choice. In any case, you probably shouldn't even attempt to finance your car with a car dealership to begin with.
Saturday, April 14, 2007
Friday, April 13, 2007
Auto Loan Factory
New Car Leases
By Jimmy Sturo
When it comes to leasing a car, your best bet is to lease a new one. Though it may cost more, it is a more practical decision. The primary consideration when you buy or lease a car should not be money - it should be the use that you can derive from it. A car fresh from the factory, generally gives you the assurance that all parts are in proper working condition. There is also a warranty that supports the car for a number of years - hopefully through the leasing period that will cover all major repair costs.
Leasing a new car does not require much financial expertise. You do want to be aware enough to haggle for the lowest possible deal so that the monthly payments will be lower. Depreciation is calculated on the estimated residual price of the vehicle when the lease period terminates. The difference has to be paid by the lessee. Once the price is settled, then papers are filled out and sent for approval. The deal is affected greatly by how good your credit is. Students and first-time lessees find it difficult to get a lease.
Monthly payments depend on a term called the money factor. This is a small decimal number, which when multiplied by 2400, gives the interest to be paid each month. An ideal deal is one in which the interest on a lease comes out to be the same as the interest on a normal loan.
While leasing a new car, it is important to remember that payments made every month will be significantly higher than for used cars. Depreciation is very high in the first year of purchase and is cut in half each successive year. That means for a short-term lease on a new car, the payment would be high. Add to that sales taxes, and you are paying a major bill each month for your car.
The satisfaction of leasing a new car is you are driving a new automobile with new technology. The car will also have a higher resale value at the end of the term should you decide to sell the car or trade it in for a new lease. New cars are easier to maintain and consume less fuel.
Car Leases provides detailed information on Car Lease Prices, Car Lease vs Buy, Car Leases, How to Get Out of a Car Lease and more. Car Leases is affiliated with Used Car Quotes.
Article Source: http://EzineArticles.com/?expert=Jimmy_Sturo
http://EzineArticles.com/?New-Car-Leases&id=278633
When it comes to leasing a car, your best bet is to lease a new one. Though it may cost more, it is a more practical decision. The primary consideration when you buy or lease a car should not be money - it should be the use that you can derive from it. A car fresh from the factory, generally gives you the assurance that all parts are in proper working condition. There is also a warranty that supports the car for a number of years - hopefully through the leasing period that will cover all major repair costs.
By Jimmy Sturo
When it comes to leasing a car, your best bet is to lease a new one. Though it may cost more, it is a more practical decision. The primary consideration when you buy or lease a car should not be money - it should be the use that you can derive from it. A car fresh from the factory, generally gives you the assurance that all parts are in proper working condition. There is also a warranty that supports the car for a number of years - hopefully through the leasing period that will cover all major repair costs.
Leasing a new car does not require much financial expertise. You do want to be aware enough to haggle for the lowest possible deal so that the monthly payments will be lower. Depreciation is calculated on the estimated residual price of the vehicle when the lease period terminates. The difference has to be paid by the lessee. Once the price is settled, then papers are filled out and sent for approval. The deal is affected greatly by how good your credit is. Students and first-time lessees find it difficult to get a lease.
Monthly payments depend on a term called the money factor. This is a small decimal number, which when multiplied by 2400, gives the interest to be paid each month. An ideal deal is one in which the interest on a lease comes out to be the same as the interest on a normal loan.
While leasing a new car, it is important to remember that payments made every month will be significantly higher than for used cars. Depreciation is very high in the first year of purchase and is cut in half each successive year. That means for a short-term lease on a new car, the payment would be high. Add to that sales taxes, and you are paying a major bill each month for your car.
The satisfaction of leasing a new car is you are driving a new automobile with new technology. The car will also have a higher resale value at the end of the term should you decide to sell the car or trade it in for a new lease. New cars are easier to maintain and consume less fuel.
Car Leases provides detailed information on Car Lease Prices, Car Lease vs Buy, Car Leases, How to Get Out of a Car Lease and more. Car Leases is affiliated with Used Car Quotes.
Article Source: http://EzineArticles.com/?expert=Jimmy_Sturo
http://EzineArticles.com/?New-Car-Leases&id=278633
When it comes to leasing a car, your best bet is to lease a new one. Though it may cost more, it is a more practical decision. The primary consideration when you buy or lease a car should not be money - it should be the use that you can derive from it. A car fresh from the factory, generally gives you the assurance that all parts are in proper working condition. There is also a warranty that supports the car for a number of years - hopefully through the leasing period that will cover all major repair costs.
Thursday, April 12, 2007
Auto Loan Factory
New Car Leases
By Jimmy Sturo
When it comes to leasing a car, your best bet is to lease a new one. Though it may cost more, it is a more practical decision. The primary consideration when you buy or lease a car should not be money - it should be the use that you can derive from it. A car fresh from the factory, generally gives you the assurance that all parts are in proper working condition. There is also a warranty that supports the car for a number of years - hopefully through the leasing period that will cover all major repair costs.
Leasing a new car does not require much financial expertise. You do want to be aware enough to haggle for the lowest possible deal so that the monthly payments will be lower. Depreciation is calculated on the estimated residual price of the vehicle when the lease period terminates. The difference has to be paid by the lessee. Once the price is settled, then papers are filled out and sent for approval. The deal is affected greatly by how good your credit is. Students and first-time lessees find it difficult to get a lease.
Monthly payments depend on a term called the money factor. This is a small decimal number, which when multiplied by 2400, gives the interest to be paid each month. An ideal deal is one in which the interest on a lease comes out to be the same as the interest on a normal loan.
While leasing a new car, it is important to remember that payments made every month will be significantly higher than for used cars. Depreciation is very high in the first year of purchase and is cut in half each successive year. That means for a short-term lease on a new car, the payment would be high. Add to that sales taxes, and you are paying a major bill each month for your car.
The satisfaction of leasing a new car is you are driving a new automobile with new technology. The car will also have a higher resale value at the end of the term should you decide to sell the car or trade it in for a new lease. New cars are easier to maintain and consume less fuel.
Car Leases provides detailed information on Car Lease Prices, Car Lease vs Buy, Car Leases, How to Get Out of a Car Lease and more. Car Leases is affiliated with Used Car Quotes.
Article Source: http://EzineArticles.com/?expert=Jimmy_Sturo
http://EzineArticles.com/?New-Car-Leases&id=278633
By Jimmy Sturo
When it comes to leasing a car, your best bet is to lease a new one. Though it may cost more, it is a more practical decision. The primary consideration when you buy or lease a car should not be money - it should be the use that you can derive from it. A car fresh from the factory, generally gives you the assurance that all parts are in proper working condition. There is also a warranty that supports the car for a number of years - hopefully through the leasing period that will cover all major repair costs.
Leasing a new car does not require much financial expertise. You do want to be aware enough to haggle for the lowest possible deal so that the monthly payments will be lower. Depreciation is calculated on the estimated residual price of the vehicle when the lease period terminates. The difference has to be paid by the lessee. Once the price is settled, then papers are filled out and sent for approval. The deal is affected greatly by how good your credit is. Students and first-time lessees find it difficult to get a lease.
Monthly payments depend on a term called the money factor. This is a small decimal number, which when multiplied by 2400, gives the interest to be paid each month. An ideal deal is one in which the interest on a lease comes out to be the same as the interest on a normal loan.
While leasing a new car, it is important to remember that payments made every month will be significantly higher than for used cars. Depreciation is very high in the first year of purchase and is cut in half each successive year. That means for a short-term lease on a new car, the payment would be high. Add to that sales taxes, and you are paying a major bill each month for your car.
The satisfaction of leasing a new car is you are driving a new automobile with new technology. The car will also have a higher resale value at the end of the term should you decide to sell the car or trade it in for a new lease. New cars are easier to maintain and consume less fuel.
Car Leases provides detailed information on Car Lease Prices, Car Lease vs Buy, Car Leases, How to Get Out of a Car Lease and more. Car Leases is affiliated with Used Car Quotes.
Article Source: http://EzineArticles.com/?expert=Jimmy_Sturo
http://EzineArticles.com/?New-Car-Leases&id=278633
Wednesday, April 11, 2007
Auto Loan Factory
Car Loan Financing - Buying vs. Leasing
By Carrie Reeder
Which option is better leasing or buying?
This is a common question amongst many car buyers. Depending on who you talk to, some people may feel that leasing a vehicle is the better option, especially if you enjoy driving a new car every couple of years. On the other hand, if you enjoy a car payment-free lifestyle, buying is without a doubt the better choice.
Difference between Leasing and Buying
There are significant differences between buying a new vehicle, and leasing one. When buying a car, the entire purchased priced is financed. With leasing, only a portion is financed. Thus, leasing offers lower monthly payments.
For example, let's say a particular vehicle is priced at $25,000. If leasing this vehicle for two years, the dealership will calculate the estimated value after 24 months, and leaser finances the difference. Thus, if the estimated value in 24 months is $15,000, the leaser will pay $10,000. On the other hand, if buying the same vehicle, the buyer will finance the entire $25,000.
Advantages and Disadvantages of Buying New Car
There are advantages to choosing the buying option. For starters, at the conclusion of the loan term, you will own the vehicle. Secondly, because buyers own the car, they are able to paint or re-design the exterior. On the flip side, cars lose their worth. Unless buyers purchase with a down payment or accept a higher monthly payment, the car will not have any equity.
Pros and Cons of Leasing a Car
Leasing is ideal for person's who prefer lower monthly payments, and for individuals who like driving a different vehicle every couple of years. With leasing, you have the option of keeping the vehicle for 12 to 48 months. Once the lease term ends, buyers also have the option of purchasing the car at its current value. For more information about leasing or purchasing a vehicle see www.abcloanguide.com
Of course, there is a downside to leasing. Leasing comes with strict driving rules. For example, drivers are allotted a certain number of miles - either 12,000 or 15,000 per year. If the leaser exceeds the mileage, there is a penalty. Furthermore, any damages to the vehicle must be repaired before the car is returned to the dealership.
Find out about the Best New Car Loans with the help of ABC Loan Guide. They have information on this topic, along with a list of companies who deal with Automobile Financing for people with good and bad credit.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Car-Loan-Financing---Buying-vs.-Leasing&id=194506
By Carrie Reeder
Which option is better leasing or buying?
This is a common question amongst many car buyers. Depending on who you talk to, some people may feel that leasing a vehicle is the better option, especially if you enjoy driving a new car every couple of years. On the other hand, if you enjoy a car payment-free lifestyle, buying is without a doubt the better choice.
Difference between Leasing and Buying
There are significant differences between buying a new vehicle, and leasing one. When buying a car, the entire purchased priced is financed. With leasing, only a portion is financed. Thus, leasing offers lower monthly payments.
For example, let's say a particular vehicle is priced at $25,000. If leasing this vehicle for two years, the dealership will calculate the estimated value after 24 months, and leaser finances the difference. Thus, if the estimated value in 24 months is $15,000, the leaser will pay $10,000. On the other hand, if buying the same vehicle, the buyer will finance the entire $25,000.
Advantages and Disadvantages of Buying New Car
There are advantages to choosing the buying option. For starters, at the conclusion of the loan term, you will own the vehicle. Secondly, because buyers own the car, they are able to paint or re-design the exterior. On the flip side, cars lose their worth. Unless buyers purchase with a down payment or accept a higher monthly payment, the car will not have any equity.
Pros and Cons of Leasing a Car
Leasing is ideal for person's who prefer lower monthly payments, and for individuals who like driving a different vehicle every couple of years. With leasing, you have the option of keeping the vehicle for 12 to 48 months. Once the lease term ends, buyers also have the option of purchasing the car at its current value. For more information about leasing or purchasing a vehicle see www.abcloanguide.com
Of course, there is a downside to leasing. Leasing comes with strict driving rules. For example, drivers are allotted a certain number of miles - either 12,000 or 15,000 per year. If the leaser exceeds the mileage, there is a penalty. Furthermore, any damages to the vehicle must be repaired before the car is returned to the dealership.
Find out about the Best New Car Loans with the help of ABC Loan Guide. They have information on this topic, along with a list of companies who deal with Automobile Financing for people with good and bad credit.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Car-Loan-Financing---Buying-vs.-Leasing&id=194506
Tuesday, April 10, 2007
Auto Loan Factory
Secured Business Loans - Way to Low Cost Finance for Businesses
By Andrew Baker
Establishing a business requires huge amount as businesses demand expenditure on various fronts. It is not easier for every business person to arrange required finance from own source and therefore secured business loans become inevitable. Lower interest rate and other easier terms-conditions have made secured business loans popular options for business people.
Secured business loans are offered to business people depending on the type of their business. Business persons can utilize secured business loan for various purposes. One who intends to start a new business, secured business loans can serve in buying raw materials, machinery and even for procuring a piece of land for setting a manufacturing plant or a factory. In case secured business loans are required for existing business, the loan can be utilized for buying additional raw materials and machinery. The loan also can be used in paying staff salary. Previous debts are also paid on taking the loan.
Secured business loans are provided on taking any of the business person’s property as collateral. The property may be residential or commercial. With collateral in place, the lender can offer any amount of loan. The borrowings depend on equity in collateral. Higher equity in home or any property enables in taking greater secured business loans. Because the loan is fully secured, lenders can easily offer secured business loans at lower interest rate.
Lenders provide secured business loans for larger repayment duration.
Secured business loans can be comfortably paid back in 5 to 30 years. This means the business person has ample time for establishing business. All he has to ensure is that installments of secured business loans are paid regularly. Since the loan is usually spent in various works of business, there may not be much amount left with the business person. So for paying off installments the business person must have extra source of income or the business must start generating income immediately. Lenders also would like to ensure that the borrower has enough income at hand. Secured business loans are given without many enquiries to bad credit business persons. This is because in case of payment default, still the loan can be recovered on selling the borrower’s property.
Prior to applying a lender, compare different secured business loans providers for individual interest rates and terms-conditions. Prefer applying to online lenders for fast approval of the loan.
Secured business loans are cheaper source of much required finance for business persons. Make sure that the loan installments are paid back regularly for avoiding debts.
Andrew Baker has done his masters in finance from CPIT. He is engaged in providing free, professional, and independent advice to the residents of the UK. He works for the LoansFiesta for any type of loans as Secured business loans, Unsecured debt consolidation loans, secured personal loans, secured homeowner loan in uk please visit http://www.loansfiesta.co.uk
Article Source: http://EzineArticles.com/?expert=Andrew_Baker
http://EzineArticles.com/?Secured-Business-Loans---Way-to-Low-Cost-Finance-for-Businesses&id=335650
By Andrew Baker
Establishing a business requires huge amount as businesses demand expenditure on various fronts. It is not easier for every business person to arrange required finance from own source and therefore secured business loans become inevitable. Lower interest rate and other easier terms-conditions have made secured business loans popular options for business people.
Secured business loans are offered to business people depending on the type of their business. Business persons can utilize secured business loan for various purposes. One who intends to start a new business, secured business loans can serve in buying raw materials, machinery and even for procuring a piece of land for setting a manufacturing plant or a factory. In case secured business loans are required for existing business, the loan can be utilized for buying additional raw materials and machinery. The loan also can be used in paying staff salary. Previous debts are also paid on taking the loan.
Secured business loans are provided on taking any of the business person’s property as collateral. The property may be residential or commercial. With collateral in place, the lender can offer any amount of loan. The borrowings depend on equity in collateral. Higher equity in home or any property enables in taking greater secured business loans. Because the loan is fully secured, lenders can easily offer secured business loans at lower interest rate.
Lenders provide secured business loans for larger repayment duration.
Secured business loans can be comfortably paid back in 5 to 30 years. This means the business person has ample time for establishing business. All he has to ensure is that installments of secured business loans are paid regularly. Since the loan is usually spent in various works of business, there may not be much amount left with the business person. So for paying off installments the business person must have extra source of income or the business must start generating income immediately. Lenders also would like to ensure that the borrower has enough income at hand. Secured business loans are given without many enquiries to bad credit business persons. This is because in case of payment default, still the loan can be recovered on selling the borrower’s property.
Prior to applying a lender, compare different secured business loans providers for individual interest rates and terms-conditions. Prefer applying to online lenders for fast approval of the loan.
Secured business loans are cheaper source of much required finance for business persons. Make sure that the loan installments are paid back regularly for avoiding debts.
Andrew Baker has done his masters in finance from CPIT. He is engaged in providing free, professional, and independent advice to the residents of the UK. He works for the LoansFiesta for any type of loans as Secured business loans, Unsecured debt consolidation loans, secured personal loans, secured homeowner loan in uk please visit http://www.loansfiesta.co.uk
Article Source: http://EzineArticles.com/?expert=Andrew_Baker
http://EzineArticles.com/?Secured-Business-Loans---Way-to-Low-Cost-Finance-for-Businesses&id=335650
Monday, April 9, 2007
Auto Loan Factory
11 Tips For Buying A Used Car
By Teri B Clark
If you plan to buy a car at a used car lot, a car auction, or through an individual, it is unlikely that you will get completely honest answers to all your questions. So, what can you do? Well, certainly, don’t despair!! Let me give you several weapons that you can use against the automobile industry.
Get A Paint Meter
With one of these paint meters, you can detect paintwork or factory original tape. It will also show bondo-body puddy or replaced metal. And very few car salesmen will even know what you have!! At the very least, the salesman’s eyes will bug out when you ask him why the car you are interested in was painted. Was it because of an accident or just repainted to make it look good.
Remember that 99% of all salesmen do not know what goes on behind closed doors – otherwise known as the business end of the auto business. They are there simply to sell a car for every penny that they can squeeze out of the public buyer.
Why do I suggest that you get a paint meter? Because repainting a car is a very prolific practice in the auto business. I can not prove it, but if I had to make a guess how many cars sold to the open market via dealership have paint work done to them, I would guess at LEAST 40%. Every week, I personally see thousands of cars lined up at the “paint shop” to be repainted. This “paint shop” is located on the auction grounds and is otherwise known as the recon-facility.
Not every car is being fully repainted. Most are having their bumpers repainted. It makes sense to have the bumpers repainted because, though the rest of the car is flawless, the bumpers are often scratched up pretty badly. Next time you visit a dealership, notice how many of the bumpers are flawless – not a scratch on them even though the car is three years old.
The problem comes in with the dealers. Many retail dealers have the audacity to lie and claim that their cars are original. And people believe them because the work is just too nice to have been repainted. Do you know what the average price is to have these bumpers repainted? A mere $200. Perceived value by the public and exploited by the retail dealers? Thousands of dollars.
Well, if you have a paint meter, then you will know the truth. So, what is my policy on repainted vehicles? If the car was properly repainted and done so professionally – a factory repainted process – then I have no problems buying the car. A professional paint job would make the car look the way it did the day it rolled off the assembly line.
The point of the paint meters is to give you more inside information than what Carfax discloses. Just because it does not show up on Carfax does not mean that the car is free of any negative history.
Determine The Warranty Time
You have to determine the correct warranty time and can do this by checking the drive side door and seeing when the car was manufactured. It will give a date like 5/11/99.
Let’s say you are interested in buying a 2000 Nissan Maxima with just 22,000 miles on it and it is currently September 29,2002. You ask the salesman or the neighbor that you are buying the car from what the factory warranty is and he tell you 3 years or 36,000 miles. What many people fail to realize is this: a 2000 model is actually 3 years old!!!!
Don’t believe me? Let’s count the years: 2000, 2001, 2002.
I see people making this mistake over and over. And to make matters worse, when you open the driver side door and it says manufactured in 5/11/99, the warranty starts within 3 months of THAT date!! So really, what you have is a warranty that started in the middle of 1999!!!
And then you need to check to see whether the warranty even transfers to you at all. Some manufacturers allow up to triple transfers of owners with the warranty intact and some do not. The best way to check is to call the dealership and find out. You can also have them run a VIN check to let you know the status of the warranty on that car.
Open the Oil Cap
This is good for everyone, but especially for those of you buying an older car. Open the oil cap and look at the cap carefully. If there is sludge (thick black goop) on the back of the oil cap, it means the oil never got changed---or not often enough!! Do NOT buy the car!!
If there appears to be a caramel color syrup goop on the cap, it means that the anti-freeze is leaking into the engine. This is terminal cancer to an engine, so do NOT buy the car.
The problem with this tool is that most dealers know about this, too, and know to clean up the cap and change the oil so that everything “looks” fine.
Ask For a Cold Start
When coming to look at any car, request to be able to start the car cold. This means that the engine has been at rest for a minimum of 12 hours, but preferably 24 hours.
Why? When starting cold, a lot of problems with the motor can be seen and heard. If you hear any sounds that are not “normal, like loud clanking or scraping noises, that go away when the car gets warmed up, do NOT buy it without a thorough check by YOUR mechanic.
If you see a lot of blue smoke on a cold start, this means that the car is burning oil. If it blows out white smoke, then there is anti-freeze in the engine. These are NOT good signs!!
Check The Compression of the Engine
You can check the compression of the engine simply by revving the engine while in neutral and looking at the RPM’s. A RPM’s of a car with good compression will go up quickly and back down quickly. If the car has trouble getting the RPM’s up or when they do get up come down very slowly, then the engine is losing compression. Do NOT buy it!!
Know The Loan Value On The Car
Finding out what the loan value for the car you want from the current year models to 5 year old models is essential to knowing what a good wholesale price is. Call the bank to get the loan values. This helps you to determine what price you want to pay.
You also need to get the appropriate mileage deductions built in. The mile deduction is 12,000 per year. So, if a car is 5 years old, then the mileage deduction is 60K. If the car is 3 years old, then the mileage deduction is 36K.
Always try to buy cars with the appropriate mileage deduction on them. Knowing what the loan value is lets you know pretty closely what the dealer paid for the car.
Be Sure That The Vehicle’s Body Is Straight
Stand behind the vehicle and check to see if the rear wheels line up squarely behind the front wheels and that the body is angled properly. If the car seems slightly off-center or even crooked, it's a sure sign that the car was in an accident and its frame is bent.
Check For Water and Flood Damage
According to the American Automobile Association, there are thousands of used cars on the market that have been victims of floods and other types of water damage. So:
*Check for dried mud in cracks and crevices under the hood or behind trim panels inside the car
*Notice any damp or musty odors in the vehicle.
*Look for any newly replaced carpeting or upholstery.
These are all clues of water damage.
Look Under the Vehicle
Check for any fluids that might have leaked out onto the pavement. If you see a small puddle or damp spot of oil, water, or some other fluid, the car may have expensive-to-repair mechanical problems.
Check The Odometer
The "normal allocation" is 12,000 to 15,000 miles per year. If the car has unusually high mileage for its age, you may want to consider another vehicle.
If the car has unusually low mileage, you may have reason to be suspicious. Odometer tampering is a widespread and difficult-to-prove crime.
Have Your Mechanic Inspect The Vehicle BEFORE You Buy It
Your mechanic will be able to tell you what repair work the car needs now and what repair work it may need in the future. Having your mechanic inspect the car before you buy it is one of the best things you can do to insure that you're not getting a "lemon." If the seller won't allow your mechanic to look at the car, you should be highly suspicious.
By purchasing a used car you can save a lot of money. You may be able to buy a loaded model with all the bells and whistles that you couldn’t afford had you bought a new car. However, buying a used car can be a gamble. You can breathe easier when you follow these tips.
Teri B. Clark is a professional writer and published author offering writing help for professionals. Her book, Private Mortgage Investing, is a finalist in the Foreword Magazine's Book of the Year Award. Her book, 301 Things You Can Do To Sell Your Home NOW and For More Money Than You Thought, has just been released. Learn more about Teri at http://TeriBClark.blogspot.com
Article Source: http://EzineArticles.com/?expert=Teri_B_Clark
http://EzineArticles.com/?11-Tips-For-Buying-A-Used-Car&id=475454
By Teri B Clark
If you plan to buy a car at a used car lot, a car auction, or through an individual, it is unlikely that you will get completely honest answers to all your questions. So, what can you do? Well, certainly, don’t despair!! Let me give you several weapons that you can use against the automobile industry.
Get A Paint Meter
With one of these paint meters, you can detect paintwork or factory original tape. It will also show bondo-body puddy or replaced metal. And very few car salesmen will even know what you have!! At the very least, the salesman’s eyes will bug out when you ask him why the car you are interested in was painted. Was it because of an accident or just repainted to make it look good.
Remember that 99% of all salesmen do not know what goes on behind closed doors – otherwise known as the business end of the auto business. They are there simply to sell a car for every penny that they can squeeze out of the public buyer.
Why do I suggest that you get a paint meter? Because repainting a car is a very prolific practice in the auto business. I can not prove it, but if I had to make a guess how many cars sold to the open market via dealership have paint work done to them, I would guess at LEAST 40%. Every week, I personally see thousands of cars lined up at the “paint shop” to be repainted. This “paint shop” is located on the auction grounds and is otherwise known as the recon-facility.
Not every car is being fully repainted. Most are having their bumpers repainted. It makes sense to have the bumpers repainted because, though the rest of the car is flawless, the bumpers are often scratched up pretty badly. Next time you visit a dealership, notice how many of the bumpers are flawless – not a scratch on them even though the car is three years old.
The problem comes in with the dealers. Many retail dealers have the audacity to lie and claim that their cars are original. And people believe them because the work is just too nice to have been repainted. Do you know what the average price is to have these bumpers repainted? A mere $200. Perceived value by the public and exploited by the retail dealers? Thousands of dollars.
Well, if you have a paint meter, then you will know the truth. So, what is my policy on repainted vehicles? If the car was properly repainted and done so professionally – a factory repainted process – then I have no problems buying the car. A professional paint job would make the car look the way it did the day it rolled off the assembly line.
The point of the paint meters is to give you more inside information than what Carfax discloses. Just because it does not show up on Carfax does not mean that the car is free of any negative history.
Determine The Warranty Time
You have to determine the correct warranty time and can do this by checking the drive side door and seeing when the car was manufactured. It will give a date like 5/11/99.
Let’s say you are interested in buying a 2000 Nissan Maxima with just 22,000 miles on it and it is currently September 29,2002. You ask the salesman or the neighbor that you are buying the car from what the factory warranty is and he tell you 3 years or 36,000 miles. What many people fail to realize is this: a 2000 model is actually 3 years old!!!!
Don’t believe me? Let’s count the years: 2000, 2001, 2002.
I see people making this mistake over and over. And to make matters worse, when you open the driver side door and it says manufactured in 5/11/99, the warranty starts within 3 months of THAT date!! So really, what you have is a warranty that started in the middle of 1999!!!
And then you need to check to see whether the warranty even transfers to you at all. Some manufacturers allow up to triple transfers of owners with the warranty intact and some do not. The best way to check is to call the dealership and find out. You can also have them run a VIN check to let you know the status of the warranty on that car.
Open the Oil Cap
This is good for everyone, but especially for those of you buying an older car. Open the oil cap and look at the cap carefully. If there is sludge (thick black goop) on the back of the oil cap, it means the oil never got changed---or not often enough!! Do NOT buy the car!!
If there appears to be a caramel color syrup goop on the cap, it means that the anti-freeze is leaking into the engine. This is terminal cancer to an engine, so do NOT buy the car.
The problem with this tool is that most dealers know about this, too, and know to clean up the cap and change the oil so that everything “looks” fine.
Ask For a Cold Start
When coming to look at any car, request to be able to start the car cold. This means that the engine has been at rest for a minimum of 12 hours, but preferably 24 hours.
Why? When starting cold, a lot of problems with the motor can be seen and heard. If you hear any sounds that are not “normal, like loud clanking or scraping noises, that go away when the car gets warmed up, do NOT buy it without a thorough check by YOUR mechanic.
If you see a lot of blue smoke on a cold start, this means that the car is burning oil. If it blows out white smoke, then there is anti-freeze in the engine. These are NOT good signs!!
Check The Compression of the Engine
You can check the compression of the engine simply by revving the engine while in neutral and looking at the RPM’s. A RPM’s of a car with good compression will go up quickly and back down quickly. If the car has trouble getting the RPM’s up or when they do get up come down very slowly, then the engine is losing compression. Do NOT buy it!!
Know The Loan Value On The Car
Finding out what the loan value for the car you want from the current year models to 5 year old models is essential to knowing what a good wholesale price is. Call the bank to get the loan values. This helps you to determine what price you want to pay.
You also need to get the appropriate mileage deductions built in. The mile deduction is 12,000 per year. So, if a car is 5 years old, then the mileage deduction is 60K. If the car is 3 years old, then the mileage deduction is 36K.
Always try to buy cars with the appropriate mileage deduction on them. Knowing what the loan value is lets you know pretty closely what the dealer paid for the car.
Be Sure That The Vehicle’s Body Is Straight
Stand behind the vehicle and check to see if the rear wheels line up squarely behind the front wheels and that the body is angled properly. If the car seems slightly off-center or even crooked, it's a sure sign that the car was in an accident and its frame is bent.
Check For Water and Flood Damage
According to the American Automobile Association, there are thousands of used cars on the market that have been victims of floods and other types of water damage. So:
*Check for dried mud in cracks and crevices under the hood or behind trim panels inside the car
*Notice any damp or musty odors in the vehicle.
*Look for any newly replaced carpeting or upholstery.
These are all clues of water damage.
Look Under the Vehicle
Check for any fluids that might have leaked out onto the pavement. If you see a small puddle or damp spot of oil, water, or some other fluid, the car may have expensive-to-repair mechanical problems.
Check The Odometer
The "normal allocation" is 12,000 to 15,000 miles per year. If the car has unusually high mileage for its age, you may want to consider another vehicle.
If the car has unusually low mileage, you may have reason to be suspicious. Odometer tampering is a widespread and difficult-to-prove crime.
Have Your Mechanic Inspect The Vehicle BEFORE You Buy It
Your mechanic will be able to tell you what repair work the car needs now and what repair work it may need in the future. Having your mechanic inspect the car before you buy it is one of the best things you can do to insure that you're not getting a "lemon." If the seller won't allow your mechanic to look at the car, you should be highly suspicious.
By purchasing a used car you can save a lot of money. You may be able to buy a loaded model with all the bells and whistles that you couldn’t afford had you bought a new car. However, buying a used car can be a gamble. You can breathe easier when you follow these tips.
Teri B. Clark is a professional writer and published author offering writing help for professionals. Her book, Private Mortgage Investing, is a finalist in the Foreword Magazine's Book of the Year Award. Her book, 301 Things You Can Do To Sell Your Home NOW and For More Money Than You Thought, has just been released. Learn more about Teri at http://TeriBClark.blogspot.com
Article Source: http://EzineArticles.com/?expert=Teri_B_Clark
http://EzineArticles.com/?11-Tips-For-Buying-A-Used-Car&id=475454
Sunday, April 8, 2007
Auto Loan Factory
Let Your Business Thrive With Commercial Bridging Loan
By Eva Baldwyn
Expansion is life- that is what most of the business owner believe and act accordingly. But, sometimes lack of finance may not allow you to expand your business further. With the availability of commercial bridging loan, getting funds is no more a constraint to move ahead.
Commercial bridging loans are usually short term loans with a repayment period up to 2 years. Though it is short term, but it is of great help for the business men, who need instant capital for their business. With the help of commercial bridging loan, you can withdraw an amount up to £10,000,000. You can use the cash to buy new office premises, factory, machines or other tools required for your business.
Another advantage of the commercial bridging loan is its easy and fast approval. And today’s online process has made it more convenient to access it. Hundreds of finance companies are offering commercial bridging loans online. So, no need to shop around in person. According to your convenience, you can apply from anywhere and get your commercial bridging loan within hours. But, without enough research don’t jump for any particular deal. Or else, you may end up with a costly deal.
When it is about the cost of your commercial bridging loan, rate of interest plays a significant role in it. Generally, they are attached with higher rate of interest. But, the secret of achieving a competitive rate lies in online research. Firstly, ask for free online quotes and compare their cost. It will help you choose the right commercial bridging loan as per your requirement and budget.
Commercial bridging loan is a sort of secured loan, which helps the business owners raise finance against the very same property, which is meant to be sold out. So, there is possibility of repossession of your property by the lender, in case of non repayment of the loan amount during the agreed time frame. But, the rightful choosing of a commercial bridging loan can truly build a bridge to overcome all the financial obstacles successfully.
Eva Baldwyn aims to inform common men and women of the several issues involved in personal loans and mortgages through her articles. An MSc in Economics & Finance from the Warwick Business School is proof enough of the knowledge that she possesses in the field of finance. To find bridging loan, Commercial Bridging Loan, residential bridging loan, personal bridging loan, short term bridging loan, development bridging loan visit http://www.easybridgingloansuk.co.uk
Article Source: http://EzineArticles.com/?expert=Eva_Baldwyn
http://EzineArticles.com/?Let-Your-Business-Thrive-With-Commercial-Bridging-Loan&id=461250
By Eva Baldwyn
Expansion is life- that is what most of the business owner believe and act accordingly. But, sometimes lack of finance may not allow you to expand your business further. With the availability of commercial bridging loan, getting funds is no more a constraint to move ahead.
Commercial bridging loans are usually short term loans with a repayment period up to 2 years. Though it is short term, but it is of great help for the business men, who need instant capital for their business. With the help of commercial bridging loan, you can withdraw an amount up to £10,000,000. You can use the cash to buy new office premises, factory, machines or other tools required for your business.
Another advantage of the commercial bridging loan is its easy and fast approval. And today’s online process has made it more convenient to access it. Hundreds of finance companies are offering commercial bridging loans online. So, no need to shop around in person. According to your convenience, you can apply from anywhere and get your commercial bridging loan within hours. But, without enough research don’t jump for any particular deal. Or else, you may end up with a costly deal.
When it is about the cost of your commercial bridging loan, rate of interest plays a significant role in it. Generally, they are attached with higher rate of interest. But, the secret of achieving a competitive rate lies in online research. Firstly, ask for free online quotes and compare their cost. It will help you choose the right commercial bridging loan as per your requirement and budget.
Commercial bridging loan is a sort of secured loan, which helps the business owners raise finance against the very same property, which is meant to be sold out. So, there is possibility of repossession of your property by the lender, in case of non repayment of the loan amount during the agreed time frame. But, the rightful choosing of a commercial bridging loan can truly build a bridge to overcome all the financial obstacles successfully.
Eva Baldwyn aims to inform common men and women of the several issues involved in personal loans and mortgages through her articles. An MSc in Economics & Finance from the Warwick Business School is proof enough of the knowledge that she possesses in the field of finance. To find bridging loan, Commercial Bridging Loan, residential bridging loan, personal bridging loan, short term bridging loan, development bridging loan visit http://www.easybridgingloansuk.co.uk
Article Source: http://EzineArticles.com/?expert=Eva_Baldwyn
http://EzineArticles.com/?Let-Your-Business-Thrive-With-Commercial-Bridging-Loan&id=461250
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