Category Archives: Automobiles

How To Evaluate The Condition Of A Used Car Before Buying It

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The decision to buy a used car can be a stressful one. There are a lot of things to consider and have checked before you spend your hard-earned money. There are some assumed risks a buyer takes on when buying a vehicle that is pre-owned. Finding and purchasing a used car that is trouble-free will take some time and effort. It is important to know how to determine how reliable a used vehicle is before you purchase it and have to spend your hard-earned money fixing unsuspecting mechanical headaches down the road. To make the process a little easier and less risky, below are some tips on how to properly evaluate the condition of a used vehicle before you purchase it.

Evaluating A Used Car:

•Ask For Ownership History- If available, request the ownership history for the vehicle you are considering. Also, take note of the mileage from the odometer and view any available maintenance records.

•Inspect Body- Carefully inspect the body of the vehicle for damage. Note any scratches, chipped paint, dings and any other obvious damage that may need repairing.

•Thorough Test Drive- It is crucial to take a used car for a test drive. Pay close attention to how it handles. Check how well the brakes work, if the car pulls in any specific direction or if there are any noises that are unusual.

•Have Vehicle Inspected- Before purchasing a used car, have it thoroughly inspected by a qualified mechanic of your choosing. They will be able to let you know if the car is worth what the seller is asking for it. Be wary of sellers who encourage you to use their mechanic.

•Vehicle History Report- Ask for a copy of the vehicle’s history report from an independent service. Companies to consider for this tip include AutoCheck and CARFAX. You can use the vehicle identification number to check if the vehicle was involved in any floods or had been rebuilt. These sites can also alert you to odometer fraud.

•Service History- If purchasing a used car from a private seller, ask them if they have maintenance records that you can review. Most car dealerships selling used vehicles will have service records for their customers to review.

•Read All Fine Print- Before you purchase a used car, it is important to fully understand what is covered in the warranty. Read the fine print to see how long you are covered under warranty and if there are any restrictions to be aware of. Some warranties cover specific repairs and some do not.

Safely Buying A Used Vehicle After Evaluating It

When purchasing a used car, especially from a private seller, it is important to take precautions so that you don’t get taken advantage of. Always get the sale in writing before money exchanges hands. It should include a promise of the condition of the vehicle and some evidence proving it, if possible. Any correspondence regarding the sale of a vehicle should be saved. Keeping a secure paper trail on all transactions can save you headaches in the event you were sold a lemon. Pay special attention to any used car listings that speak of new or repaired parts.

Getting Funded- Differences Between Credit Unions And Banks

If considering personal loans for buying a used car, you may be wondering if you should go with a bank or a credit union. Banks and credit unions have their differences and distinguishing between the two can be confusing. The most important difference between the two is that banks are institutions that are for-profit. Credit unions are non-profit organizations.

Other notable differences include banks having higher fees and lower interest rates while credit unions offer lower fees and higher interest rates on their loans. Additionally, it is easier to find a bank nearby than a credit union in some cities. Credit unions often boast better customer service, and banks often have rewards programs, better technology and easy mobile access.

Choosing between a bank or credit union depends on what features work best for you. Consider your priorities including customer service, services offered, banking applications and branch locations. When looking for a loan to buy a used car, you may want to shop around at both banks and credit unions to find the best interest rate offered.

6 Ways You Can Make Money With Your Car

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A map on ways to make money with your car

Are you looking for ways to make some money by driving around your vehicle? There are multiple avenues that you can take to start earning significant cash to earn an additional income, pay off your bills, boost your savings, or to simply treat yourself and your loved ones. Consider these 6 ways that you can start making big bucks with your vehicle.

Become a Personal Driver

If you have a smartphone and a fairly recent car that is in good or excellent condition, you can sign up to become a personal driver for Uber or Lyft. If you have a luxury vehicle, you can actually earn even more money by becoming a driver. These apps allow everyday people to transform their vehicles into a cash generator by driving around citizens in your local area. If you meet the qualifications, there is no limit to the amount of rides that you can get paid for every day.

Display Wrap Advertising

Many companies are eagerly seeking new avenues to get their brands out to the public, and wrap advertising is one of them. You can sign up with Wrapify to help a business market its goods and services to the people. With Wrapify, you have the option of putting up a panel ad, a partial ad, or a full ad to make hundreds of extra dollars a month. When you are driving, the Wrapify app keeps track of the mileage. For every month that you keep wrap advertising on your car, you are paid. When you are done advertising with the company, the wrap advertising can be safely removed from your vehicle.

Haul Things for Others

If you have an SUV or a pickup truck, you can get paid by hauling things for other people. A pickup truck is a great option to help people move appliances, furniture, or other things across town for a handsome fee. If you have a pickup, you can get paid $100 or more to transport trash to the city dump. Many small businesses in your area may need someone to transport goods and supplies to another location, and you can lend your services to them as well.

Join the Amazon Flex Program

If you don’t mind delivering packages for other people, you can sign up for the Amazon Flex program. What is most convenient is that you can maintain your independence by choosing your own flexible hours to make money. The online retail giant is offering anywhere from $18 to $25 dollars an hour to join their delivery team.

Offer Food Delivery

If you want a simple way to make more money with your car, you can sign up with DoorDash or Uber Eats. Both of these food delivery service apps connect you with people that are looking for someone to deliver a hot meal to their home. Food delivery services are continuing to grow in popularity, and many famous restaurants are signing up with their service, so take advantage of this cool way to make money with your car.

Rent Your Car

When you are not using your car, you can rent it out to people. They’ll use your car to drive to local events, to and from the airport, or for any other special occasion. Turo is a site that allows you to easily list your car for rent, and simply update your schedule on the site to let others know that your vehicle is available. What is even greater about Turo is that your car is protected with up to one million dollars in liability insurance, and the driver has access to roadside assistance around the clock, seven days a week.

With so many small businesses and people looking for help that do not have a car or are unable to drive themselves, you can use your vehicle to start making more money today. Whether you choose to transport packages, food, supplies, or people, the opportunity to make thousands of dollars a year is available. Whether you want to work for a few hours a day or make it your main source of income, it is totally up to you. Consider creating a few business cards or flyers to advertise your services, and you can develop a thriving small business with your vehicle before you know it.

How Your Credit Score Affects Car Financing

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Cars are expensive. That is why most people will need car title loan. Many people do not realize that their credit score affects how much they will have to pay for their car. If your credit score is low, then you may have to pay more in interest. This can cause you to have to pay thousands of extra dollars per year.

It is a good idea to look at your credit score before you apply for an auto loan. Many people assume that most people do not have a credit score that is high enough to get a loan with a low interest rate. However, that is not necessarily true. Experian is one of three major credit bureaus.

Experian stated that 66 percent of people who got approved for a car loan last year had a credit score that was in the prime range. Forty-four percent of people had a credit score that was in the super prime range.

Equifax, Transunion and Experian are the three major credit bureaus. All of the credit bureaus use your past and current financial information to determine your credit score. You will be able to visit annualcreditreport.com and get a free report once a year.

There are also banks that will provide you with a free credit score. Make sure that you check your report for errors. Low credit scores are often caused by errors on your credit report. Even though you can get your credit report for free, you may have to pay for your credit score.

There are Many Scores

Credit scores are also known as the FICO scores. A company called the Fair Issac Company determines the score algorithm. It is possible for people who pull your credit to get different scores. It is also important to note that your credit score can fluctuate from day to day.

Furthermore, there are different credit score scales. Some agencies will use a credit score scale that ranges from 300 to 850. Others will use a credit score scale that ranges from 300 to 900.

The Score Tiers

Lenders typically divide your credit scores into tiers. If your credit score is below 550, then it is considered deep subprime. A credit score that ranges from 550 to 619 is considered subprime. A score that ranges from 620 to 679 is considered non-prime. A prime is considered 680 to 739. A super prime score is above 740. The average Experian score is 681.

Keep in mind that was is considered prime and subprime can vary from lender to lender. The tier that you make a major difference in the amount of interest that you pay. People who have super prime scores typically pay less than 3 percent on a car loan. However, those who have subprime scores typically pay more than 13 percent.

A credit score is not the only thing that lenders will consider when determining whether you are eligible for a loan. They will also consider your work history and income. Neither of those factors are on your credit report.

If you are turned down by a car loan lender, then your score will not be affected. Credit bureaus do not keep track of whether you were approved by a lender. However, they do keep track of the applications.

How to Improve Your Credit Score

  • Avoid maxing out your credit cards. You do not want the limit to exceed 20 percent.
  • Do not close your credit accounts. The unused credit will reflect positively on your credit report.
  • Sign up for automatic payments.
  • Get inaccurate information on your credit report corrected.