Auto News and Car Reviews

10.5 Hints to Help You Get a Car Loan
By Geoff Cohen

1.Know your credit score.

Get a copy of your credit report. Review it for errors and make any corrections before you try and get a loan. If there are major errors in your credit report, consider delaying your application until the corrections are completed. This will make sure you keep the car dealers honest. If you desperately need transportation, try renting a car short term until your credit report is straightened out. You may actually save money on fuel, insurance and repairs by renting which you can add to your down payment.

2.Have an explanation for your credit issues.

Dont be apologetic. Bad things happen to good people. Be specific about any problems or crisis that caused your problem. Let the bank know about any major upheaval in your life that may have led to your problems such as an illness or a natural disaster, like Katrina, or 9-11.Make sure that you can substantiate your claim.

3.Dont lie about anything on the credit app.

Lenders will turn reject your loan if they find you lied to them.

4.Know your income.

Make sure you can prove what you make. Have your proof readily available.

5.Save your down payment.

More down means more car. Larger down payments can sometimes get a lender to view your application more favorably.

6.Know what the payoff on your trade-in is.

If you are trading in a car with a payoff, get a ten day payoff from the lender. If you have a warranty or additional policies bought with the vehicle, find out if you can cancel them. This will lower your payoff or entitle you to a refund after the vehicle is paid off.

7.Know what your car is worth.

Check out NADA or KBB first. Go to CarMax and see what they will buy it for. Use these figures to negotiate the best trade in value. Remember, If you get more than the payoff, that amount becomes down payment.

8.Buy what you need, not what you want.

Set realistic expectations. Dont buy more payment than you can truly afford. Rebuild your credit first, than rebuild your image later.

9.Dont be argumentative.

Nice people get better deals than people who give sales reps a hard time.

10.Try other sources to get a loan.

Check online. Lenders such as Capital One, HSBC, Roadloans, and CitiFinancial all have websites which let you apply direct to them for a loan. You may get better rates and terms from lenders online than from a dealer.

Check your credit union or insurance co. They may have a loan program or lender relationship. A good payment history with your insurance company may help you get a loan from their bank. Credit unions can sometimes do automatic payroll deductions, which guaranty you pay the loan, so they may be more receptive.

10.5 Dont go from dealer to dealer.

Excessive inquiries can be a reason a lender declines your application.

Geoff Cohen is a seasoned auto professional, with over 30 years experience. He has done it all, from sales rep to F&I Manager, New Car Manager, Used Vehicle Manager, up to GSM and GM. He has also worked as an area sales manager for a major sub-prime lender as well as run his own BHPH and Auto Leasing/Brokerage company.. He is the National Accounts Manager for AutoLending Network and is a contributing author to Subprimeconsulting.com, a blog about Special Finance solutions for auto dealers as well as F&I Magazine and World of Special Finance Magazine

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Why Keeping Your Tires In Good Shape Helps Protect Your Wallet
By Gregg Hall

It can pay dividends, literally, to keep your car’s tires in good shape. If you don’t make sure that your car’s tires have the proper air pressure, are rotated regularly and in good alignment, then you harm your car’s fuel efficiency. Given the way fuel prices are, that can add up pretty quickly. So, learn what you need to do to keep your four rubber tires working their best to keep your fuel bill to a minimum, and get the added benefit of doing your part to protect the environment.

One of the easiest things related to tire maintenance to keep under control is inflation. Your tires have to have a certain amount of air pressure to work properly, and you need to check them every so often to see if they are in the proper range. Each pound of pressure that your tires are under inflated will cost you .4% of your fuel economy, so make sure that your tires are properly inflated! If you don’t know what the proper PSI of your tires are, you will be able to find one listed in your glove compartment. Also, make sure that all your tires are evenly inflated. Unevenly inflated tires will lessen fuel efficiency almost as much as under inflated tires. Make sure that you keep track of your tires’ pressure. It’s as easy as checking a gauge every now and then, so do it.

During the colder winter months, you will have to pay special heed to your tires’ pressure. That is because as the air cools, the air pressure in your tires will drop. In fact, it is one pound of pressure for every 10 degrees Fahrenheit. So, during the winter, you will likely have to add a bit of air during the colder months, which in turn will help your tires cut through the slushy, snowy muck that can form them.

Keeping your tires properly rotated can also greatly improve your fuel economy. Tire rotation ensures that no one area of your tires gets excessive wear. If you are not sure of the right way to rotate your tires, check your car’s owner’s manual. You should have your tires rotated twice per year.

When you are ready for a replacement tire, make sure that you purchase the right tire for your car. Check your owner’s manual for the right size and type. Desirable characteristics for fuel efficiency include low rolling resistance, and long tire life. When you are purchasing your tires, tell the dealer that you are interested in maximizing fuel economy, and they will help you choose the right tire to do so.

Finally, make sure that your car’s tires are all correctly in alignment. This needs to be checked once every year; probably one of the times you have your tires rotated. Tires that are misaligned do not roll freely, and so will consume more fuel, shorten your tires’ lifespan, and also impede a vehicle’s handling ability.

Also remember that poorly kept tires can be a safety hazard. Racing slicks are good for a track, but not a wet road. Saving fuel money may also save your life.

Keeping your car’s tires in good repair is a sound, economical investment. You pocketbook will thank you when you are filling up. Keeping your tires in good condition may even pay for itself.

Gregg Hall is an author living in Navarre Beach, Florida. Find more about this as well as custom wheels at http://www.vintagewheelsplus.com

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10 Used Car Buying Tips
By Chuck Russell

Here are some great used car buying tips to save you money. They are in no specific order, but maybe they will save you some money!

1 Check NADA.com for pricing on the used car you are looking at. This is what most banks use to finance cars.

2 Check Kelly Blue Book for a guide on your trade.

3 Dont get too caught up on the trade value as most never get payoff for their vehicle. Instead, look at the bottom line. If the dealer uses wholesale on your trade, make sure you get wholesale price on the used car you are buying.

4 Consider financing the used car for fewer months. Try doing 48 months if you can swing the payment. If you finance longer, try paying a little extra on months that you can.

5 Negotiate your best deal! After you have done this, tell the dealer they have a deal if they will pull a carfax report and everything is clean. Dont pay for a carfax yourself. Most dealers have an account where they can pull it for you.

6 Check the oil in the used car you are buying to make sure it has been changed. You can check inside the windshield, there will usually be a sticker telling when the next oil change is due. Check the back exhaust to make sure there is not excessive black residue around the opening–this would indicate that it may be burning oil.

7 Once you have negotiated your best deal, tell the salesman that you have one more used car to check out at a nearby dealer. Go to your car, even if you drive around the building and come back. If they let you leave, you are probably getting the best deal possible.

8 Remember to apply for your financing prior to looking for a used car. DONT FORGET, it is FREE to apply online. You will get an email with the results almost instantly.

9 Check your insurance on a specific car before you sign the dotted line online to see who will give you the best quote.

10 After you have purchased your car, make sure you do not leave anything in your trade because the trade may be gone by the time you return. Check your CD player and above your visors, and dont forget your garage door opener.

If you do not get treated professionally, go to another dealership. How you are treated at the time of purchase is a good indication of how you will be treated if you have a problem. Even though you are buying a used car, it is new to you. Most dealers will gladly take your business, even if they do not make as much on you as the next because you are equipped with some great car buying tips.

Written by Chuck RussellCar Buying Tips To Save You Money

RoadLoans Auto Finance

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Driving The Nissan Altima Hybrid
By John G. Anderson

Nissan’s first gas-electric hybrid vehicle is one of the best, but gas guzzling drivers don’t make it any easier to share the roads. If you really want to annoy other drivers on the road, drive your hybrid as it’s designed to be driven.

You’ll hear a constant barrage of horns when you don’t race off at the lights and most drivers will risk there lives to dodge around you when you keep to the posted speed limit.

It soon becomes obvious that most people still drive as if gas was still $2.00 a gallon and up until driving a hybrid, that included me. The Nissan Altima Hybrid, the company’s first entry into the gas-electric hybrid market uses a 2.5-litre four cylinder engine from the conventional Altima, connected to a Toyota-sourced electric hybrid drive and a continuously variable transmission (CVT).

The Altima can run solely on battery power, the engine also shuts off when at idle, so there is absolutely no emmissions when your stuck in a traffic jam. The electric motor restarts it, so there is also no conventional starter to wear out. The first question people always ask is what’s the replacement cost of the battery pack. The Altima hybrid system is covered by warranty for 8 years or 160,000km, if you need a replacement after that, Nissan estimates the cost at around $3,900.00.

I’ve driven many hybrid vehicles but I really like the Altima hybrid. The CVT transmission didn’t have that rubber band feel and the handling was very crisp and accurate. If you are not willing to change your driving habits, you will have a harder time recovering the extra hybrid cost in your gas savings. If you live in an urban area with constant traffic you will immediately notice the benefits of a hybrid vehicle.

Nissan has always prided itself on sporty performance and the Altima hybrid does deliver. It’s low end torque makes it feel like a V6 and the stiff platform handles the road admirably. But if you drive it like a sports car you will sacrifice the benefits of the hybrid system. The Altima hybrid is a great car and comes in top-of-the-line trim levels, including heated power adjustable cloth seats, automatic climate control, ABS, stability control and side & curtain airbags.

If you are in the market for a hybrid vehicle the Nissan Altima Hybrid is a serious contender.

John Anderson operates http://hybrid-cars.megawebpages.com an online information resource for news, reviews and discussions on hybrid vehicles.

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