Car Buying Tips – Finance and Insurance

Anyone thinking of buying a new or used car has a huge range of options to choose from in terms of manufacturer, type of car, gas, diesel or electric etc. Whatever the individual chooses to buy in the end, it is important from the outset to understand the various additional costs that can be incurred by either choosing the wrong type of finance or not appreciating what insurance costs could be involved.

Most people buying a new car will need to arrange some type of finance to fund it. There are some people who will literally be cash buyers but they are few and far between. The majority of people will look to some type of finance or credit arrangement either with the manufacturer or with another lending institutions such as a bank or credit union.

If looking to buy a new car, then it is also well worth considering the option of leasing a vehicle rather than buying it outright. Leasing a vehicle is similar in many ways to a long-term rental, but with a few and advantages and disadvantages. The advantages tend to be that someone can effectively get hold of a brand-new car that they would not be able boys to afford to buy. The disadvantages often tend to centre around the lease end arrangements, where significant additional costs can be involved to cover extra mileage, additional wear and tear and any damage or deterioration of the condition of the vehicle.

When an individual looks to finance a new or used vehicle the manufacturer or their dealership will require a credit application to be filled in. The manufacturer will then use a credit rating agency to obtain a credit score for the individual. This credit score will then be used as a guide by the manufacturer or dealership to assess the creditworthiness of the individual. Based on this assessment, the dealership or manufacturer will then decide whether to offer the individual a loan, and if so how much, how much of a down payment, what rate of interest to charge and over what period of time. This process is pretty much the same whether the individual is looking to buy or lease a vehicle.

When someone is looking to finance a new car it is always a good idea to get as many different quotes as possible from different lending institutions, and compare them on a like-for-like basis. Some people look to refinance their loans at a later stage of the loan period, but this can be a tricky process often only up costing a lot more money.

The costs regarding insurance should also be taken into account. People should be aware of what the legal requirements are for they live in terms of liability insurance, but they may be unaware that the manufacturer will want them to take out comprehensive and collision insurance as well.

Another insurance cost that will need to be factored in is that of GAP insurance. GAP insurance effectively covers the difference in depreciation between the value of the vehicle when purchased, i.e. the full amount of the loan, and its subsequent value at any point during the period of the loan. If the car is written off or badly damaged in an accident, then the insurance company will pay less than the purchase price of the vehicle, due to depreciation. GAP insurance is designed to cover this difference.

Junk Car Removal Information Guide

Learn Some Great Tips before You Contact Your Local Auto Wrecker for Junk Car Removal.

So you have an old junk beater sitting in the backyard. What do you do? Do you simply call the junkyard and give the car away? You might want to think twice about doing that as it might not be in your best interest.

One of the first things you should do is contact someone who knows cars and who can give you an idea of what the vehicle might be worth. You want to make sure you are not scraping a classic car that is worth a small fortune before calling for junk car removal service.

Get the most money you can for that junk car.

The next thing you should do is call around to different companies and get quotes on what they are paying for scrap cars and trucks. Some junk car removal service companies pay more while others pay less.

It is also a good idea to not be lazy and call more than one company to get the best price for that scrap car. Now, if you really just want to get rid of the old vehicle and do not care about how much cash you get for it, by all means, go ahead and call your local tow truck company and see if they can pick up the car for free. Some towing companies will while others will want to charge you.

You should not be charged for a pick up because the junk car removal company gets cash for your car at the scrap yard.

If he is going to charge you for the pick up he is getting paid twice for the one job. Nice for the towing business but not practical for the scrap car owner.

Also, don’t forget to salvage what you can from your scrap car before you have it picked up. Check inside for any personal items you may have left in the car. You may want to remove and keep the battery if it is in good condition. If the wiper blades are in good shape you could also keep them.

If the vehicle has a spare tire and a jack in the trunk you might be wise to take them out. They will only be scrapped and they could come in handy sometime.

Keep in mind these junk car removal tips are applicable in any city and are not limited to your local area.

Buying Car Parts Online

The internet makes things much easier nowadays with instant quotes and the ability to buy anything including car parts online 365 days a year 24 hours a day. With many products it is quiet easy as there may be just ion version of what you are buying, but when it comes to car parts it can be a totally different story. There is this assumption that by buying a particular make and model of car, it will have the same set of parts that that entire model would have. The truth is this is juts not true. First of all the time when your car is registered, that normally dictates the year of the car, may not be the time it was manufactured. It is very possible that your car has been standing for 6 months on an airfield somewhere, before it was eventually sold and registered at new. There can be the same car, registered at the same time but was built 4 months later. This ultimately means that there could be a difference in the parts that make up the car.

Of course we are not talking everything on the car, but selected car parts that have been upgraded or sourced from a cheaper supplier on a continuous basis to either improve the car or build it cheaper. The results are that every part now needs a serial number or unique reference part number, which sometimes is very hard to locate. Often the best way to match up your car part id to take the part off and take it to the dealership and so match it with a new one. Unfortunately you cannot do that if you choose to buy your car part online.

One solution is to join one of the many online forums that dedicate members to the particular make and model of car you own. Then ask the question first before you buy anywhere. Is the part I need to buy have different serial numbers or has it been supplied on a consistent basis around the time of manufacture could be a question?

It may be worth the hassle, as many people now choose to buy car parts from the many locator services, which put you in touch with national breaker yards. You get the buy a used car part cheaper, but the part is likely to be made to the manufacturer specification and not a cheap copy that you often get through accessory shops. The problem here is these used car parts do not come in a box with part numbers written on, that can be matched against the manufacturer manual.

Some manufacturers are worse that others, some may bring our several versions of the same car each year to help with its marketing program. Luckily others only change parts with full research and good reason to do so, of course there is the argument that they may get left behind with new technology.

At the end of the day, if you buy a new part from a shop you could argue you were sold the wrong part should be wrong. But if you buy online, it is likely that the responsibility will lay with you, not to mention postage costs. So take your time and do some research first.