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Can You Avoid Getting Stung On Financing Your Family Car?

Buying a new family car is a big financial commitment – and it’s also an area where it’s very easy to get taken in by tricks and end up with something that seems like a good deal on the surface, but when you look into it, really isn’t – and that goes whether you are buying new or second-hand. Car dealerships and their salespeople are very skilled in persuasion techniques designed to get you to make a purchase. It’s also important to remember that most dealerships make their money on the sale of car financing, and not so much on the vehicle itself. So the ticket price may seem good, but it’s the specifics of the financing that you really need to pay attention to in order to avoid getting stung. So, how do you make sure that you are getting a genuinely good deal?

Can You Avoid Getting Stung On Financing Your Family Car? - stylish image of old beetle car
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Don’t Focus Too Much On Headline Price

The headline price is the figure that the car is on sale for. Now, this may seem like a good deal overall – you’ve done your research through a site like Parker’s, you understand what the make and model should be worth new or used, and it seems like the figure on the ticket is a fair deal. But the headline price of a car is arguably one of the least important factors here. Instead, you should focus on factors like whether the vehicle is really suitable for your circumstances and your needs. Are you buying more than you can afford? How much are the expected running costs for this model? Don’t get suckered into paying for an appearance or a badge. It’s more important to ensure that the car you’re getting is something that fits into your life and that you can afford without having to make sacrifices elsewhere.

Pay Attention To Financing Terms 

Even if we feel confident in negotiating with a salesperson on the headline price, we could still lose out if we don’t pay close attention to the terms of the car financing agreement. It may be worth considering going with a specialist lender like the Martin Brothers Motor Company, or you could go down the route of asking for a bank loan to fund your purchase. It’s hard because the financing isn’t as tangible at the headline price, but securing a lower Annual Percentage Rate (APR) could literally save you hundreds or thousands over the course of your financing deal. Consider whether there are any financial penalties for paying the loan off early if you can, and increase the deposit where possible so that you’re paying less on the financed side of the vehicle. Of course, if there is a 0% offer that is definitely worth considering. Otherwise look for a loan no longer than 36 months and aim for a 20 percent deposit. 

There are a lot of things to consider with a purchase of this scale, so make sure that you take your time, think through the depreciation of your car and it’s longer-term running costs and factor in the whole picture. It’s easy to get carried away, but if you stick to your principles and walk away with a good deal, you will have made a financial decision you can be proud of.

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7 Signs You Need a New Car

Buying a new car is a significant expense, and it’s not something that many of us can just rush out and do without thought. This is one of the reasons that we put it off. The other is that we love our vehicles. They become a big part of our lives, we come to rely on them, and we make them our own. These reasons often see us clinging on. We ignore those check warning lights, we put up with each MOT ending up more expensive than the last, and we paper over the cracks as much as possible in an attempt to get more life out of our beloved car.

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But, sometimes you just have to give it up and search for a new car, or a Used Ford Focus, which could become your new love. Here are seven of the signs that it’s time to go car shopping. 

A Tank of Gas Doesn’t Last as Long

Fuel efficiency is something that we check when we buy a new car. Those that are able to go further off a tank of gas are more appealing because they will cost less to run, need filling up less frequently, and may even be better for the planet. But, over time, even with cars that get great miles to the gallon, this starts to change. When you begin to find that your car goes through a full tank much faster, then it might be time to think about a new vehicle, as this one costs you more than it should

The Check Engine Light Never Goes Off

We’re all guilty of ignoring the check engine light occasionally, perhaps until a service or MOT. This can be a mistake. But, sometimes, even when we don’t ignore it, it doesn’t go away, or it only goes off for a short period. If your light comes on shortly after repairs, your car might be on its way out.

You’re Worried About Long Journeys

You should feel confident that your vehicle can handle a long journey. If you are worried that it won’t cope with anything more than day to day journeys, you might want to upgrade for peace of mind. 

It costs More and More to Keep on the Road

Minor repairs are common, and over time it’s safe to expect your car to need replacement brake pads, tyres and other essential parts. In older cars, after ten years, or around 100000 miles, you can expect your vehicle to start needing more expensive, and more frequent repairs. Eventually, it will be cheaper to get a new car. 

Strange Smells and Sounds

Funny smells and unexplained noises are never a good sign. You should certainly get your car checked out if you’ve noticed anything like this, as it could be a sign of something serious. 

It Doesn’t Feel Right

Our cars feel just right. We spend time breaking them in and getting them set up to suit our needs. When a car starts to get older, it might become more uncomfortable, and feel less like the car that we love. 

You No Longer Enjoy Driving
Sometimes, the best sign that it’s time to buy a new car is that you no longer enjoy driving. If your car is uncomfortable, costing you more and you are worried about break downs, you won’t be able to enjoy yourself. A new car could be the answer.

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Sensible Ways Of Owning A Luxury Car

A fancy car is at the top of many people’s wish lists, but the reality is that it will most likely stay there. Cars are a luxury whether you’ve got your dad’s old banger or you’ve invested in a top of the range sports car. But as you most likely need one to get from A to B, it can be difficult to live without.

If you’ve been eyeing up a luxury car recently, the good news is that there are ways of making your car more affordable. Take a look at some sensible suggestions for owning a luxury car that could soon have you drive the car of your dreams in no time.

Sensible Ways Of Owning A Luxury Car - image of car in autumn leaves audi
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Do your research carefully

Buying a car is a big decision, no matter what type you go for. But it’s important that you do your research carefully before you rush into any kind of purchase. You should go to look at different cars, test drive them and see how they feel. The cars you considered luxury might not be as appealing as other cars, and you might find that something more affordable actually fits the bill better. 

There are a lot of things to consider when buying a car, so don’t just go on the brand name or how it looks.

Choose a great finance deal

With the right finance deal, you can make owning a luxury car much more affordable. If you’ve got any kind of deposit to put down, you could make it easier to afford the monthly payments. If you’ve always ruled out an upmarket car because you’re worried about the cost, why not take a second look? There are Audi finance deals that could surprise you, so spend some time doing the maths before you say no. If you shop around the end of the financial quarter, you could even end up with a fantastic bargain or some extras thrown in too!

Lease for short-term affordability

Leasing is becoming more popular for people wanting to own a great car without a long-term financial commitment. While you won’t own the car at the end, the fast depreciation of cars could mean that you’re better off. Consider the pros and cons of leasing versus buying to help you work out if it’s the right move for you.

Go used for a lower price

Luxury doesn’t have to mean new, and if you’ve been looking to upgrade your car, then you should consider used cars. You can get a great deal on a stunning model that could have low mileage and be in excellent condition, making it a fantastic investment. Make sure you read tips on buying used cars to help you with your search so that you can avoid getting ripped off or landed with an ailing vehicle.

Getting a new car is always an exciting time, and with the right approach, a luxury car could soon be yours. Got your sights set on a dream car? Now could be the time to go for it!

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Leave The Costs Behind You On The Road

Are you preparing to purchase your first vehicle? If so, you might be worried about the expense. It’s no secret that buying a car is going to cause a hit to your bank balance even for years after and we’re not talking about financing. Even if you buy it outright you’ll find that it does weigh down on your income. So, you need to think about how to reduce the cost here. There are a few ways to do this so let’s look at some of the possibilities for leaving the costs behind you when you purchase a vehicle.

How to purchase your first vehicle - Leave The Costs Behind You On The Road - image of smartphone and traffic

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If this is your first car, you might not be aware that there are different bands for insurance. The band determines the premium that you’ll pay. This can be band 1 to over 18. It gives you a firm grasp of how much you will be expected to cover each month before you make your own investigations with an insurance broker or company. Generally speaking, smaller cars have lower insurance premiums while larger cars have higher costs. There are some minor exceptions to this rule and engine size is also a crucial detail. A 1-litre engine will be considerably less to insure than a 2-litre.

Fuel Economy

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Do check the mpg of the car that you are purchasing. You need to make sure that the mpg is quite high and anything over 50 mpg is recommended. This means that the car will complete fifty miles per gallon which is fairly great. A sports car will probably do about 30 and that’s not going to serve you well on the road at all. Instead, it’s highly likely that you’ll need to stop at virtually every station you see to refuel.

Age

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The age of the vehicle will also play an impact on how much it’s going to cost. Older cars are cheaper to insure but they usually use a lot more fuel. So, it’s kind of a balancing act. You also need to be careful about environmental issues as it does look like penalties will soon be introduced for cars that are particularly unfriendly to the environment.

The obvious question then is whether you should opt for a used car that is second hand. This could still be a great choice because a used car will save you from the issue of depreciation. As well as this, if you buy from a reliable source like CC Cars Limited, you can make sure that you get a quality model that will serve you well on the road.

Extra Tip

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One last tip would be to think about using an insurance solution that offers a black box service. A black box service simply means that the company will be able to check on your driving style and whether or not you are speeding. There are also boxes that will limit your speed to the limit. Obviously, this makes you less of a liability and will reduce the cost considerably.
Whether you are planning to purchase your first vehicle or your helping your kid choose theirs for the first time, these are the considerations you should make when looking for the cheapest option.

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Leasing vs. Buying: What Does It Mean to Lease a Car

Vehicles make your life more functional as you don’t have to depend on public transportation to run errands or travel long-distance. Before you get a new car, ensure you consider your options and decide what option is best.

Leasing vs. Buying: What Does It Mean to Lease a Car - gear knob shifter imageSource: pixabay.com

Why Lease Payments are so Cheap

For brand new vehicles, leasing is always more affordable as compared to purchasing a car. Whether you are paying in cash or financing your vehicle purchase, you will pay more than you would if you chose to lease.

For every new vehicle, three main factors determine the difference in price when buying or leasing. Buyers pay for equity, depreciation as well as interest expense while leasers pay for depreciation and interest expense only.

Leasing a vehicle means that you gain access to it, but the car dealer retains ownership. Access to a leased vehicle is terminated when the leasing period is over. Car leasing is an affordable endeavour because the overall cost for leasing is much lower than the purchasing cost.

Residential Value

When a new vehicle is leased for the first time, it retains significant value once the lease period ends. This is called residual value, and it determines the lease rates of the vehicle. The higher the residual value, the lower the leasing rates. Knowing car leasing tips helps you settle for the best deal.

Ideally, you pay the car dealer the car’s depreciating value based on its current value and what value it will have retained at the end of the lease. Expensive vehicles have a more attractive leasing value as they have a higher residual value. Always consider your financial situation when deciding on buying or leasing a vehicle.

Leasing and Taxes

Even though when you lease a car you don’t get ownership, you are still responsible for sales taxes. Consider shopping around to get a car dealer who offers you the best leasing deal. Ensure you can afford the monthly payments to avoid financial stress.

Mileage

Leased vehicles have a mileage limit of 10,000-15,000 per year. If you exceed this mileage limit, you’ll be required to pay 25% per mileage. It is possible to negotiate for a cheaper or more expensive lease depending on the mileage you see yourself covering.

Don’t Lease Beyond the Car’s warranty

For brand new vehicles, it is always advisable to avoid leasing beyond the car’s warranty. Leasing beyond the car’s warranty will set you up for huge repair bills.

Conclusion 

Consider your financial situation when deciding whether to lease or purchase a car. Vehicles are huge investments, and they make life easier as you don’t have to depend on public transportation to move around. When you want to lease a car, shop around for the best deal because, at the end of the day, you don’t get the car’s ownership. http://credit-n.ru/kreditnye-karty-blog-single.html