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What to Do When a Car Payment Launches a Surprise Attack

August 22, 2011 By Leave a Comment

When you’re not looking, that pesky car payment threatens to rear its ugly head and attack your budget—again. By the time most drivers pay off a car note, the terms of the loan have exceeded the warranty by quite a few months – or even years.

However, this doesn’t mean you have to get back on that financial treadmill the first time “Old Faithful” lets you down. In addition to considering a paycheck advance, here are a few tips to help you avoid a sneak attack on your finances the next time you have an unexpected breakdown:

 Walk, Run, Bike, or Rollerblade

Self-powered transportation doesn’t cost a thing! In the meantime, tuck away your gas money for that expensive car repair. As a bonus, this plan is good for your health and the environment.

 Bum a Ride

 

What are friends for? When you need to get somewhere, call up a friend or family member and ask for a ride. It’s more fun to shop with a friend anyway. Although people used to hitchhike across the country without a second thought, stay home instead of engaging in this unsafe practice.

 Car Pool

If you live near a co-worker, offer to split the gas money in exchange for a ride to work. In fact, many people make this a frugal and eco-friendly habit even when their car is purring like a kitten.

 Call a Cab

 

 If you really have to get somewhere, call a local cab or taxi service for a ride. This is an expensive option, so save it for when you’re in a real pinch.

 Barter Services

 

 Have a valuable skill? Trade on it by offering to provide your services in exchange for rides or car repairs. In the old days, this is how everything got done. Think you don’t have anything to offer? Sure you do – here are a few things anyone can do:

  • Yard Work
  • House Cleaning
  • Run errands
  • Dog walking
  • Car Washes

 Sell Something

 If you have a ton of stuff that you’re not using, sell it to get the cash for your car repair. Try these places when you really need the cash:

  • Ebay
  • Craig’s List
  • Yard Sales
  • Flea Markets
  • Pawn Shops
  • Consignment Stores
  • Jewelry Stores

 Work More

 When you need extra money, the first thing that should come to mind is working more. Ask for overtime, get a part-time job, or do odd jobs around your neighborhood. Before you know it, you’ll have enough to pay your repair shop.

 Hit the Lottery

 If you feel lucky, pick up a ticket – but don’t unload your entire bankroll at the lottery counter. With a cool million sitting in your bank account, a car repair will be the last thing you’re worried about.

 Fix It Yourself

 Invest in a car-repair manual and try to do the repair yourself. By avoiding the labor costs, you can save about half on a standard repair bill. If you know exactly what’s wrong, this can be a good plan. Troubleshooting, on the other hand, can be tricky for the novice mechanic. Try your luck on YouTube – this site is filled with repair videos, and you might even find a video that shows you exactly how to fix your problem.

 Hit the Junkyard

 When you don’t even have enough money to buy the parts, hit your local junkyard. If you can find a car just like yours, you can remove the part you need and only pay a fraction of the cost of a new part. Most junkyards will even guarantee the part and give refunds if the part doesn’t work.

 Look for a Mechanic Working on the Side

 Many mechanics work on the side to make extra money. If you don’t know anyone, ask your friends, look for ads on local bulletin boards, or check online. You might even get a call if you post your own ad looking for a qualified shade tree mechanic.

 Call In Your Favors

 If you’re the kind of person who’s always willing to lend a helping hand to your friends, call in your favors. If you’ve lent a few dollars here and there, that’s even better. Call in your favors for rides, help fixing your car, or a little cash to buy some parts or cover the repair bill.

 Charge It

 

 Although charging your car repair bills is almost as bad as taking on a new car payment, it shouldn’t last nearly as long. If you have no other option to get to work and keep that money rolling in, go ahead and charge the repair bill – just try to pay it off as fast as possible.

 CONCLUSION:

Now that you’re safe (for now), it’s time to start preparing for the next ambush. Cut out unnecessary expenses or get a part time job to build your savings. With more cash in hand, you can be prepared for the next repair or trade in your old hooptie for a brand-new ride without a huge care payment.

Filed Under: Money Saving Tips

Don’t Get Stuck With a Lemon: Car Buying Tips

August 16, 2011 By Leave a Comment

Image via Wikimedia Commons

So you’ve found what looks like the perfect used car—perfect style, perfect color, perfect price—and you’re anxious to hand over your money and drive it home. But slow down a minute and remember that it is still a “buyer beware” world. If you want to be sure you aren’t buying someone else’s headache, there are a few things you should do before you close the deal.

  • Use the Internet to check for problems or recalls of the model you’re interested in. You can find information about recalls at the US Vehicle Safety Hotline. Sites like Carfax let you use the vehicle identification number to find the true odometer reading and see if the car has been involved in any major accidents.
  • Open the hood and look for obvious signs of problems, like leaking oil or worn wiring. Perform a basic inspection by looking at the oil and transmission dipsticks to make sure fluid levels are up. Check the date on the battery to make sure it’s usable. Sit in the car and turn everything on and off – lights, turn signals, windshield wipers, heater, radio, power windows, and power locks – to make sure they work. Walk around the car and look at the tires (uneven wear might mean a suspension problem) and check the body for any signs of accident damage.
  • Test drive the vehicle on both the highway and in stop-and-go traffic to see if the engine, transmission, and brakes are working well. Note any unusual sounds like grinding, banging, or any other sound you know a car shouldn’t make.
  • If the owner claims the car has been well maintained or had recent work done, ask to see the maintenance records.
  • Have the vehicle inspected by a reliable mechanic. If the owner refuses to allow you to take the car to have it inspected, walk away from the deal. While having the car inspected, make sure it will pass any safety and emissions tests that might be required by your state. Since new cars are usually sold with a three year or 36,000 mile warranty, if the used car meets those restrictions, it should still be under manufacturer warranty for some repairs.

Image via Wikimedia Commons

Used car insurance rates, like new car insurance rates, are based on the real market value of the vehicle. Your best bet for getting a good used car is to look for one with low mileage that comes with service records, proving that it has been well maintained. Also, remember that used cars are often sold “as is,” meaning that once you buy the car, it and all its imperfections are yours. Taking a little time to check things out before you buy just might save you a lot of trouble later on down the road.

Filed Under: Buying Guidance & Advice, Used Cars

4 Classic Cars You Will Remember Forever

August 1, 2011 By Leave a Comment
Several things are old, but few are classic. Iconic items, like classic cars, demand attention, no matter what century it is when you see them. The following four cars preserve the past, capture the rumble of engines and transmission shifts, and showcase American design:

1. Ford Mustang Fastback

The Ford Mustang Fastback redefined the concept of the muscle car. This sleek, but powerful, roadster challenged expectations. Its design, which appeared in 1964, offered four-seat capabilities, a plush interior and chic fenders. These features made the car starkly different from traditional power vehicles. The mustang’s V8 engine and 6-cylinder options made the vehicle the perfect choice for drivers craving quick miles. The overall effect of the Ford Mustang Fastback was one of speed, and it inspired all cars of its kind that came after it, making it truly unforgettable.

2. The Cadillac

The 1959 Cadillac boasts high style and easy luxury. This massive vehicle is perpetually among the most popular classic cars on eBay, and it continues to attract modern drivers. The car has one of the most distinctive designs ever offered. Only the tail fins, which extend several feet from the rear and offer flair, outdo the car’s wide body, full-frame windshield and bold chrome grill. At the time of its release, the Cadillac was the only car of its kind to offer such lengths. The design charmed the public and created a correlation of size and social station, earning the Caddy a place among the most recognizable transports.

3. Chevrolet Corvette

The Chevrolet Corvette provides elegance for the adventurous and is an experience in speed. Dating back to 1953, this car was among the first convertibles. Its retractable hardtop made it all too appealing to American buyers, especially when coupled with its hand-built systems, hydraulic power and a four-speed transmission. This was the ideal vehicle for the open road, and it spawned a national love affair with traveling. The original model is a rarity; however, it remains a popular search among the classic cars on eBay.

4. Ford GT40

Inspiring generations of racing fans is the Ford GT40. This compact car embodies mechanical precision, making it unforgettable in any decade. Constructed in 1965 as a way for America to dominate in the Le Mans endurance trials, the GT40 was unlike any vehicle ever before produced in the states. Its aerodynamic body, which was composed of lightweight materials, and its inward-curved fenders were perfect for maintaining speed. The 7-liter engine offered unparalleled shifting capabilities. Today, this car remains one of the most respected vehicles of the 1960s.
It takes more than marketing to make a car a classic; it requires ongoing appreciation. With the inspiration these four cars provided, it is no wonder they top the list of iconic vehicles. What’s your favorite classic car?
Filed Under: Buying Guidance & Advice

On Site Financing Car Dealers

July 26, 2011 By Leave a Comment
Car dealership in Rockville, Maryland (Courtes...

Image via Wikipedia

Finding the perfect car dealer for you can be as importnat as finding the perfect car itself. Many people might be surprised when they discover that they do not qualify for a traditional car loan through their bank. While these people can feel like their dream to own a relaible. late model car are not to be, there are soem car dealers that make it possible.

Some car dealers will offer a broad range of financing options that are designed to put anyone in the seat of one of their cars. This might be bank financing, a third party lender or even financing through the car dealership itself. The best way to find out all of your options is to talk to the sales people at the dealer that has the cars that you want.

These types of car dealers often have more flexible criteria that they consider when they are helping you to buy your next car. While they still require a down payment, these car dealers often offer you a more attractive package of using a trade in or taking a small amount off of the typical down payment that is expected.

In addition, these car dealers take into account your payment schedule for your wages as well as how long you want to have to pay on the loan for your car. A loan with a shorter repayment schedule will result in slighlty high monthly payments but will result in fewer interst rates over the long term.

 

 

Filed Under: Used Cars Tagged With: , ,

Air Bags And You

July 13, 2011 By Leave a Comment
Post-deployment view of a SEAT Ibiza airbag

Image via Wikipedia

Air bags have proven to be a big life saver when it comes to car accidents. While seat belts were a major safety breakthrough due to the fact that they kept a person from being ejected from the vehicle during an accident, there are still some people who do not use them every time they drive. Air bags help to protect even these people from possible injury by preventing them from making contact with the steering wheel and the dashboard.

An air bag is literally a flexible bag that is fills quickly with air in the event of a collision. These bags are then inserted into various locations of the car. Air bags for the driver and front passengers have been available in most cars since the early 1990s. Popular places for car manufacturers to put airbags include the steering wheel and the compartment above the glove compartment.

In recent years, car manufacturers have added air bags to the sides of vehicles as well as various other locations in the front. These additions are designed to help protect people in the event that a side collusion or rollover occurs.

Since air bags have been designed to inflate rather quickly, they can be forceful when doing so. Due to this force, it is forbidden that children under the age of 12 and those in child safety seats sit in the front seat if it has an air bag. People who are petite need to make sure that they sit as far back from the air bag as possible.

Filed Under: Used Cars Tagged With: , ,

How To Find the Right Car For You

July 4, 2011 By Leave a Comment
1998 BMW E38 750iL, photographed in Woodstock,...

Image via Wikipedia

When it comes time to buy a car, you will have many questions that will need to be answered before you make your final decision. You will need to decide which type of car you need. Will you need a large car that will seat your entire family? Or are you trying to downsize your car choices and choose a smaller car that is more efficient in gas? Perhaps you fall somewhere in the middle and are looking for a family sedan that can transport your small family in comfort while still going easy on the gas.

If you are interested in a new car but are not wanting the new car price, consider purchasing a used car that is only a year or two old. By this time, most cars will have already had any recalls performed on them. In addition, you can still enjoy a low mileage vehicle for a great price since most people do not put very many miles on a car within the first year or two.

Be sure to ask the dealership that you buy your car from about any other services that they offer. In many instances, you will find that dealers that sell used cars will offer maintenance and service on any cars that they sell for a very reasonable cost in labor. This service can result in a sizeable savings for you over the time that you own your car. In addition, you will know that you are getting great service since this dealer performed a check before you bought the car.

Filed Under: Eco-Friendly Cars Tagged With: , ,

To buy new or Used?

June 15, 2011 By Leave a Comment
Used Car Lot

Image by Hugo90 via Flickr

Buying a car is a complicated process. From the dealer’s lot to the time you eventually trade it in or sell it, you have a lot to think about. One of the biggest questions you have to deal with is whether you want to buy a new car, or a used car. They both carry some advantages, but the choice is ultimately a very personal one. There is no right or wrong answer to this.

First off, there are several advantages to buying your car used. Naturally, a used car will allow you to buy more car for the same price. You can pick up a larger vehicle with more amenities, and still often pay less than you would for a smaller and more plain car if it were new. Used cars tend to be fairly reliable, especially if they are only a few years old. While you won’t have the new car smell or the joy of being the first person to sit behind the wheel, these are small details to some people.

On the other hand, there are also advantages to buying a new car. For one thing, every state has lemon laws that will protect you from financial harm if your new car can be proven to be a lemon. Generally, this comes from having numerous problems early on in its life. At the same time, there is definitely a certain appeal to being able to choose precisely the make, model and color you want, and then be able to drive it right off the lot. There is no right or wrong choice, just your choice.

Filed Under: Used Cars Tagged With: , ,

Car Repairs and Older Vehicles

June 13, 2011 By Leave a Comment
A car accident in Tokyo, Japan.

Image via Wikipedia

When you drive a car, you run the risk of having some maniac or moron plow into your side. While they might just have zoned out for a moment, in a lot of cases they were doing something ridiculous that you may end up having to pay for. Typically, stupid people don’t have a lot of insurance, so they end up passing the burden onto more responsible people. However, you have to make some tricky decisions there.

For one thing, was the car accident bad enough to total your car? If it was, you might as well just let your insurance buy you a new car and forget the whole thing happened at all. However, if your car was simply damaged, it can be a serious irritation to wait until it gets repaired. This is especially annoying when you have an older car which was nearing the end of its useful life anyway. While a car can be restored almost to seeming brand new after catastrophic damage has been done to it, sometimes it doesn’t seem worthwhile.

Filed Under: Under The Hood Tagged With: , ,

Is the Salesman Your Enemy?

June 12, 2011 By Leave a Comment
Photo of Cormac O'Reilly, the Sales Guru.

Image via Wikipedia

A lot of people go to any car lot looking to essentially get into a fight. In no other area do you have so much negotiating pressure on both sides, and such a win-lose mindset throughout the process. Normally, buying things is supposed to be easy. You can buy a piece of real estate more easily than you can typically buy a car. In some cases, this is because the buyer considers the salesman to be their enemy. But is this really the case?

As a reporter found during his stint as a car salesman, the salesman himself is often in a very difficult situation. Since most salespeople are on commission, his rent payment may be contingent on making a certain quota of sales. Many times, a salesman’s boss will send him home if he doesn’t perform up to expectations. While this doesn’t always happen, a car salesman’s salary is an extremely variable thing. If he is ordered to go home, he might have to go to the food pantry for that month’s meals.

In truth, the car salesman is just doing his job the whole way through. The system itself is generally set up to make a profit for the dealership while it provides the salesman with his commission. If you go into the deal looking at it as a chance to build something where every party wins, you have the chance to do well. If you go in there thinking you’re going to fight a war, you are going to find a war that wants to be fought. Just cooperate and hold your ground. You’ll get a good deal.

Filed Under: Buying Guidance & Advice Tagged With: , ,

Customizing Your New Car

June 6, 2011 By Leave a Comment

Purchasing an automobile is an exciting prospect for many. When the vehicle is going to be financed, a person’s credit score will help determine if a new or used vehicle is a possibility. With a little time and work, there are steps that can be taken in order to improve a current credit score.

Once the loan has been approved, the real fun can begin in customizing a brand new car. There are many ways to make a car unique and reflect a person’s individual style. Upgrading the paint job or adding fun features to the exterior such as racing stripes, initials, or just about anything can also help the car to stand out from the pack. A new set of rims for the tires can really enhance the look, as well as upgrading the body kit to modify how high or low the car sits on its wheels. When updating the interior of a car, some shops offer paint jobs to the interior; the dashboard and steering wheel could all be painted in a favorite hue.

One way to keep from paying high late charges or overdraft fees on an unexpected expense is to obtain a loan from a company like Plain Green Loans. A short-term loan could help an individual to be able to make a payment on time when in a tight financial situation, or pay for a few automobile upgrades until the next paycheck comes in.

No matter what the style, every person’s car can be unique to an individual interest. Since a good amount of time is often spent in the car, it’s always fun to make it more personalized.

Filed Under: Under The Hood Tagged With: , ,
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