buying-a-used-car

Buying A Car From A Private Seller

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Getting A Good Deal On A Used Car

buying-a-car-with-cash

Benefits Of Buying A Car With Cash

negotiating-car-price

Negotiating A Car’s Price

The Consequences Of A Repossession

January 20, 2012 · Credit Scores · Leave a Comment

When purchasing a car on credit you need to make timely payments each month or else you risk losing your car in a vehicle repossession. That’s why it’s important to only take on a loan you are sure you can afford. It’s also a good idea to have savings just in case you run into temporary financial issues. You should do everything within your power to make sure you don’t default on your auto loan. Nobody likes getting their car taken away. But the loss of your vehicle isn’t the last of your problems. Here are several consequences of a repossession.

Loss Of Vehicle

When you fall behind on your payments your vehicle may be repossessed. This is the single most damaging consequence of missing payments. Your car is not just a shiny toy. It is a tool you use to drive to work, to visit family, to go to the doctor and to drop off your kids at school. If your car is taken from you and you manage to get current on your account you may get your car back, but expect to pay hefty additional fees.

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Buying A Car From A Private Seller

January 5, 2012 · Buying / Selling A Car · 1 Comment

The current economy has created a buyer’s market for most purchases, including home and auto sales. Dealer incentives have made purchasing a new or a used car quite affordable. If you’re in the market for a used car, you can find even better bargains by buying from a private seller. Many car owners might be looking to sell their cars to downsize their monthly budgets or to raise cash. However, some deals might seem too good to be true because they are. Since warranties and other safeguards are not available when you buy from a private seller, there are several steps you have to take to ensure that the car you are purchasing is worth the sale price. Here are some tips:

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Do Balance Transfers Affect Your Credit?

January 3, 2012 · Credit Scores · Leave a Comment

One of the ways consumers can save money while still enjoying the convenience and benefits of credit cards is by transferring high-interest rate balances to low or zero-percent cards offered through the mail or online. With promotional balance transfer credit card periods now lasting as long as 21 months, simple mathematics will show that the balance transfer fee that accompanies most of these offers is a spit in the bucket in comparison to the amount of money that can be saved over that period of no interest borrowing.

For many consumers, making a balance transfer has no effect on their credit score, but for those who are struggling to increase or maintain an average credit rating the move may have negative consequences, according to some analysts. There are two potential areas that may be a problem for people with less than stellar credit:

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Getting A Good Deal On A Used Car

December 21, 2011 · Buying / Selling A Car · Leave a Comment

There is a lot to be said for saving a buck, and when it comes to the purchase of a vehicle, the more you can save the better you will feel. There are some great ways to get a good deal on used vehicles. One of the best tips is to visit police and government auctions. In fact, standard savings on the purchase of a vehicle through these auctions is often 30-70 percent.

Always remember, that if you are on a tight budget, then the best way to purchase a vehicle is by paying cash, and this is the primary form of payment utilized at most of the auctions. If you are short on cash, though, there are many ways of getting your hands on cash quickly. For example, more and more consumers are considering the benefits of short-term loans such as auto title loans, which can provide you with the funds you need to bid on a car in a matter of hours.

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8 Tips For Organizing Your Official Car Documents

November 25, 2011 · Auto Loan Resources · Leave a Comment

Proper record keeping is very important for anything that involves finances. This is certainly no different when the investment is an automobile. Keeping good records can make the difference when trying to get a good deal when trading a car in or selling it yourself. It is also extremely important for many legal reasons as well. To help, below are eight tips you can use when organizing your official car documents.

1. Keep Separate Files For Each Vehicle

The most important element to proper record keeping is organization. It is what allows you find the documents you need easily. If you simply lump all the records for all your different cars together, sorting them out later can be quite a hassle. Instead, make sure you keep a folder for each different vehicle’s records separate from each other.

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What Happens If I’m Late On Payments

November 12, 2011 · Auto Loan Terms · Leave a Comment

When you opt for a three or five year auto loan there inevitably will come a time when you’re in danger of making a late payment or you miss a payment. These loans are 36 or 60 months long and it can be difficult to maintain a perfect payment history. The question is though, what happens if you miss one monthly car payment?

Credit Score

Missing just one payment can have devastating effects. If you have been working hard to improve your credit score, one missed payment will make it drop dramatically. The good news is that the score will recover in a few months. But expect a significant ding to your score in the short term.

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