Getting the Most of a Car Auction

Make sure that you won't be giving out bouncing checks. To do this make sure that you have sufficient money in your bank to cover check payment. Other auctions might require bank drafts.

You can try checking online for some car pricing sites to check on the vehicle history report.

Make sure of the right title indication light of your contract. It may be red, green, or yellow.

You have to be at the auction site earlier than everybody. Be focused on the cars you want and avoid any distraction from the crowd. Bring important guidebooks whether it is a public auction or one that's wholesale. It may be helpful to bring your notebook or pocketPC and browse on some car pricing web sites from the auction.

Before you buy that car, try to verify first its vehicle history report. You can do that by yourself instantly when you the Palm Pilot or Pocket PC to aid you with the information. Another strategy would be to ask somebody to sit in front of a computer at home and call that person to check the history report of your desired car. Whatever is the cost given, try to remember that the primary concern of the auction is to sell the car. Don't trust the title checks given by the auction.

Read the contract and make sure that it is indicated there the number of days for you to get the contract. If they haven't furnished you the copy after the indicated date, take back your money; that is considered breach of contract. If possible, make it a point that the auctioned car has a title before you pay.

Bear in mind that you still have the buyer's premium to pay; calculate first if the auctioned car price will not go over its market value.

If you can't get the car at an affordable price below its published value, walk away and don't be entangled in a pricing war.

Source:
http://www.carbuyingtips.com

All about Car Accidents

Nobody ever wants to talk about the possibility of a car accident. We only talk about our neighbor whose leg almost got amputated after he smashed his car to a truck. But come to think of it; we do have to talk about what we should do about it to arm ourselves against any car mishap that might happen.
One major point to stress here is to hire a personal injury lawyer. This man of law will help you in determining the amount of insurance you should be getting or how much is your compensatory benefits, or simply that you are not being fooled by your insurance company or that of the other party’s.
Another significant thing; these benefits you are getting are based on the insurance package that you signed; basically, there are two types of insurance coverage: the comprehensive, which covers theft, vandalism, fire, and accidents caused by nature; the second one is collision coverage, which covers the insurance coverage of your car in any accident. However, the most basic tenet you should remember when you met an accident is to call your insurance to report the incident immediately; then you should file a police report, just to have some significant information documented, example the damages and the name of the persons involved, etc.
In some states, what is more troublesome is to determine who is at fault for the accident. In some states, a policy of no-fault liability makes every person involved in an accident responsible for damages on his own car. But still for some states, the at-fault policy requires a responsible party to pay all the damages of everyone involved.
Now what you must bear in mind is to document the pertinent information from the accident that will help your personal injury lawyer build a case with, such information as names and addresses of people involved in the accident, including the witnesses if there are any; insurance companies and the policy numbers of the people involved, a narration of how the incident took place, the property damages, and even names of those police officers who responded to the scene.
It’s good to equip ourselves of advance information for any accident or anything at all in life; in that case, we can lessen the inconvenience we experience in a car accident.

Source:
http://www.personalinjuryfyi.com

How Bad Is Your Credit?

Generally, there are four factors to be considered in assessing a person’s credit for an auto loan or lease:
Credit bureau report which includes bankruptcies and proposals
Your credit bureau will give a comprehensive summation of all your credit activities: auto loans, credit cards, lines, and loans, even credit inquiries. It will also present data on your loan registrations, judgments, and collections. This will be the basis in determining your creditworthiness.
Bankruptcies and proposals are reported to the credit bureau seven years after discharge (in Canada). When these credits and bankruptcies are dealt with accordingly, it would be affirmative since it would be reflected as your credit-handling capacity.
You can request a copy of it through a reliable reporting agency for a fee.
Credit score
There are several credit scoring methods, the most common of which is the Fico score model. The score is derived primarily from your credit history and will determine your credit worthiness.
This will include your past credit records like the number and timing of credit inquiries, timeliness of payments, financial agreements made, and whether balances are above approved levels. Do bear in mind that the better the credit, the higher the score.
Debt service ratio
This involves the ratio of your monthly credit obligations and monthly income. These credit obligations consist credit card payables, mortgage or rent payments, and loan payments.
Job and residence stability
The longer you stayed in your company, the better your chances of getting a car loan. The most important is the main source of income. The secondary or part time employment doesn’t hold much weight compared to the main source. The longer one stayed in a residence the more likely you will be considered for a loan since you are less of a flight risk.
Availability of Cosigners/Co-applicants
Having any of your loved ones or any relative who could be the secondary driver of the car can be a
co-applicant or cosigner. They can surely give plus points for attaining that loan.

Source: http://www.ezeecredit.com

Car Trivia: What Is, What Isn’t?

When did the car windshield wipers became a standard equipment for cars?
Answer: 1923
Who was the mechanic, race car driver, and the race car team owner whose cars dominated many races after World War II?
Answer: Enzo Ferrari
Whose he that created motorcycles with a meager $3,300 after the Second World War?
Answer: Soichiro Honda
When was the radio first offered as a standard car accessory?
Answer: 1923
How many cars registered in the United States during the fateful year of 1913?
Answer: more than 1 million
What was the car first offered for sale during 1887?
Answer: Benz
What was offered as standard car equipment during 1963?
Answer: seat belt
When was the first power windows introduced?
Answer: 1946
Who first introduced the first electric trunk release?
Answer: Ford

Source: http://www.anythingaboutcars.com

Things to Ponder Before You Lease That Car

Length of Contract: Most car leases are 18, 24, 36, or 48 months in length.
Negotiate: Most dealerships buy cars in big volumes, and they get a good deal because of that. It’s not that hard for them to pass on that benefit to their customers. All it takes is a good negotiation.
Residual Value: A good residual value at the end of the contract will bring down the monthly installment. The residual value directly affects your monthly payment.
Early Termination Fees: Most car leasing agreements will demand large amount for penalties when a lessee terminates the contract.
Excess Mileage Fees: Try to measure up your driving mileage to the number that the dealership demands from you for the lease. If you’re that much of a driver and you think you’ll go beyond that number then check for another car.
Wear and Tear: Have a daily checkup of your car to monitor its wear and tear status. Bear in mind that in the end you would have to pay for any excess of that.
Car Modifications: If you’re intending to make your car an art car entry, take note that you have to pay for all expenses to revert the car back to its original make.

Sources:
http://www.carleasinguk.com/
http://www.edmunds.com

Short-term Lease: Anyone?

When you need to fly away to do business in another country for the next six years and yet you want to impress your soon-to-be-wife, you can avail of your dream car for a car lease type called “short-term lease.”

The most common option for car dealers would be a car rental. It is advisable to avail of a prolonged car rental only when the duration of use would be from one day to several months. But when you want to use it from six to twenty-four months, it’s more practical to have the short-term lease.

The short-term car lease works just like the Swapalease wherein the concept runs in an “assumption” basis. This simply means when a lessee would want to get off the lease in the middle of the contract, the next lessee would finish the rest of the car lease and he/she is responsible for the car as regards the mileage, wear and tear, and other concerns, particularly for the excess of such.

To find dealerships or banks or any other financial institutions that can help you with this concern, it’s a good strategy to check online sources but you need to double-check each of them by calling. Now your chance to impress is not spoiled by time away from her.

Source: http://www.leaseguide.com

To Buy or Not to Buy

Car leasing has become so popular an option that most car owners would have a lot to know about it. Entrepreneurs and car lovers both seized the opportunity to earn from its growing popularity.
Hence from coming up with a variety of lease types to the skyrocketing number of leasing companies, customers are not to worry about choices; what they should worry about is making the right choice.
Let’s say you have a concern regarding the calculation of your lease fees: the residual value, the monthly payments, how much insurance should you be getting, etc. It would come as a surprise that there’s actually an automatic lease calculator. This may appear superfluous, but it can be of some convenience for those who are not into numbers.
This tool can save you time and a head-splitting headache doing the math for the following:
Capitalized Cost -0 MSRP minus discount
Lease Price- minus $0 down payment
Residual Value-after 24 months
Depreciation Fee- part of lease payment
Lease Fee-part of lease payment
Monthly Payment- without tax
Usage Tax- 0% of 0
Total Amount Payment-what you pay
Among many others in the market, the automatic lease payment calculator can be not as exacting as you are when you are adamant of getting the right numbers in a lease. So to ensure that you are not misled by a button, double-checking is a necessity.
In the end, you are given the chance to risk accuracy in exchange for convenience. But then this goes for a lot of choices in the world.

Source:
http://www.bankrate.com