How Can Having A Co-Signer Help You With First Time Car Financing?

Buying your first car can be one of the most exciting and yet daunting tasks of your life. If you have never taken out any kind of loan before, it can seem nearly impossible to get a car loan. Without a credit history, many banks and other financial lenders may be hesitant to fund your car purchase because they do not have a track record to go off of. One simple way to increase your chances of first time car financing is to have a co-signer on the car loan with you.

Many young or inexperienced borrows are able to get a car loan because they have a co-signer. A co-signer is generally a family member like a parent or someone else close to you that has an established credit score. By signing a car loan agreement, this individual agrees to make payments if you, the original debtor, default on any payments. Because of the risk involved in this, you will need to find a co-signer who trusts your ability to make all of your payments and who has the ability to make payments if you cannot.

If you choose to have a co-signer on the care loan with you, it is better for the co-signer to have a positive credit sore than a negative credit score. If his or her credit score is poor, it may be better to rely on your own absence of a credit score rather than their score. The reason for this is because the lender divides his or her risk between the first time car buyer and the co-signer. You can increase your chances of first time car financing by showing potential lenders that you or your co-signer will fulfill all payment obligations.

Don’t let your lack of a credit history keep you from purchasing your first car. Put potential lenders more at ease and improve your chances of first time car financing by asking a family member or trusted friend to be your co-signer.

The Right Financing For You

The right auto loan can help you own the car of your dreams, or obtain the vehicle that you need on a short timeframe. Unfortunately, the wrong auto loan can quickly turn into an expensive burden. Here are a few commonly made mistakes to watch out for when you are looking at your auto financing options.

First, it’s important to come up with a budget well before you set foot near a dealership. It’s easy to forget about other financial obligations or convince yourself that you will be able to handle a high monthly payment when you are looking at a car that is perfect, if a little pricey. Having a concrete number in hand is a good way to stay grounded and avoid buyer’s remorse.

You should also be very careful about the repayment terms that you commit to. General wisdom holds that it’s best to pay a higher monthly over a shorter term so that you pay less interest in the long run. However, this can be a burden in the case of unexpected expenses or life changes. If you’re expecting some instability over the next few years or if you don’t have a financial cushion, you should stick to a more conservative monthly payment, and pay extra whenever you are able to.

One final thing to check is whether there is a penalty for paying off your loan early. A few lenders will do this to recoup the profit made on interest that they would otherwise lose. If this is the case, then a long-term, low monthly payment loan will not make as much sense financially if you are probably capable of paying off the loan more quickly.

Basically, you always need to read the fine print when you are considering auto financing. Many people are reluctant to ask questions and sound uninformed, but it’s only fair that you have a clear understanding of what you are signing up for. Avoiding these common mistakes will help you save money as well as months or even years of stress.

Getting Approved with Bad Credit

Getting approved for an auto loan can be a challenge if you have a questionable credit history. Even though most lenders use your credit profile as a means to measure your worthiness, it is not always an accurate indicator of how financially responsible you are. We know that sometimes bad things happen to good people, and we do not believe in penalizing you for those situations. That is why we offer bad credit car loans to all of our customers.

Interest Rates

Having bad credit does mean that you are subject to higher interest rates. Higher interest rates will result in you having a higher monthly payment. The best way to get this factor to work in your favor is to choose your vehicle carefully. Know how much you can afford to pay for a monthly payment before you come down to our dealership. If you are not sure of what you can afford to pay, let us know and we will work with you so that you get a vehicle that fits within your budget.

Bring Your Paperwork

To make the financing process go smoother, bring in your paperwork. We need hard copies of your income, bank statements, and bankruptcy discharge orders. Bring us your last three to five check stubs, a copy of your last two bank statements, and your driver’s license. We will make a copy of those documents and get you approved for an auto loan. Once approved, all you will need to drive away is auto insurance. We can also assist you with getting a good policy, if you do not already have one. We have tons of cars for you to choose from. Do not feel pressured to make a decision right away, take as much time as you need. Our sales staff will actively work with you, so that you choose a vehicle that you love.

Even though you have bad credit now, we can give you the opportunity to get your credit history back on track with our car loans.

Build Your Credit With Car Financing

If you are in the market for to purchase a car, chances are you are also interested in a reasonable car financing plan. Getting the best deal and keeping your payments affordable requires that you protect your credit in various ways before you decide to purchase a vehicle.

One mistake many people who will make a large purchase within the year fall into is to layer themselves under so much debt that their credit rating suffers. Avoid that pitfall by paying cash when possible and paying off necessary loans before taking on a larger, new debt.

Going into the purchase of your next vehicle reasonably close to debt-free ensures that creditors will see you as a good credit risk. Having a house note or a home rental responsibility will not hurt your chance for an auto loan, unless the monthly housing payment is much too hefty when compared to your monthly income.

For some people, the big issue will be lack of proof of credit confidence. These people may never have made a purchase that required long-term payments. Perhaps they have never owned anything in their own names, and that will make it hard for an institutional loan to come through. Whatever the circumstances, we are interested in helping you find the best option for making car payments.

If you are not considered a healthy risk by a bank or credit union, we would like to help you on your way to purchasing a car for as little money down and for as low monthly payments as possible. Being upfront about the nature of your credit is one way to streamline the process. Once we have determined together what you can afford to pay down and monthly, our staff will have a better idea of the cars that fall within your price range.

With those selections ready for your evaluations, we can sit you behind the wheel of every car in your range, if you like, for test driving that very day. With any luck, you’ll come in with a trade in and go out with a car fresh off the lot.

Do You Drive All Seasons or Winter Tires?

If you frequently drive on snow or ice you have probably wondered which type of tire is best for your car. Tires are very important, especially when it comes to driving in dangerous, cold weather conditions. You have two different options when it comes to purchasing tires. All-seasons tires stay on your car during the summer and winter and are supposed to perform well in all conditions. Winter tires, on the other hand, should only be used during the cold months and are specifically designed to handle low temperatures. Keep reading to decide if you should buy all seasons or winter tires.

One of the major benefits or all-seasons tires is that you do not have to change them twice a year. You can put them on your vehicle and leave them there year round. Additionally, they are designed to handle both warm and cool temperatures. They are reliable on dry and wet roads. Due to the fact that all-seasons tires are not designed to focus on one specific condition, however, they do not perform as well on cold winter roads as winter tires. If you do not do a lot of driving on ice or snow and you do not want to be burdened by changing your tires with the seasons, all-seasons tires are right for you.

Despite the reliable nature of all-seasons tires, winter tires are undoubtedly better about performing in cold weather. Winter tires are made of a special rubber compound that allows the tires to grip to the road even when it is covered in ice and snow. This makes them handle much better, especially when making sharp turns. For this reason, winter tires may be the safer option. Winter tires can be a hassle, however. The soft rubber used to make winter tires wears down easily, and therefore should not be used during the summer months.

Still wondering whether you should purchase all seasons or winter tires? Do some more research on the topic to find out which is a better fit for you. You can even contact a tire company to get their recommendation.

How to Get the Lowest Monthly Car Payment

When it comes to car loans, a low monthly payment is something that many car buyers focus on. However, it’s important to understand how to get the lowest monthly car payment without paying really high interest rates or taking out a loan for longer than you actually need. We have a few ideas for you on how you can get lower monthly payments on your car loan and save money in the process.

Keep Your Credit Rating High

Lenders look at your credit score to determine the interest rate you’ll be offered on your loan. When you keep a good credit rating, you’ll be offered a better interest rate, which translates directly into savings on your monthly payment. With a better credit score you can reduce the overall term of your loan, so you’ll have fewer monthly payments overall but still be able to keep them relatively low.

Make the Biggest Down Payment You Can Afford

The more cash you put upfront for your car purchase, the lower your monthly car payment will end up being. Before you apply for financing, take stock of how much you are able to put towards a down payment. By organizing a larger down payment you’ll be setting yourself up for lower payments for the length of your loan.

Check Options With Payment Calculators

You can use a payment calculator before you apply for financing to compare how your monthly payment changes depending on the term of your loan and at various interest rates. This research gives you a better idea of the type of payment you’re likely to face and the ways you can reduce it by shortening the length of your loan.

Getting low monthly payments on car loans can be as easy as checking your options before signing on the dotted line. With a bit of advance planning, you can save in the long run.

What to Look for in a Traveling Vehicle

If you like to travel or you have a long commute to work, when you look at used cars, you want to keep this in mind. You want a vehicle that has certain features to help ensure that your travels are cost-effective and comfortable.

Adjustable Seating To ensure optimal comfort when you are driving, adjustable seating is a necessity. This is especially important for the driver because you want to sit comfortably and be able to reach the pedals and steering wheel without having to stretch or without being cramped up.

Functional Air Conditioning When the weather is warm, not having air conditioning can be downright uncomfortable, especially when temperatures exceed 80 degrees Fahrenheit. Your vehicle can quickly become 100 degrees Fahrenheit or hotter inside, especially when your vehicle is in the sun. Air conditioning combats this so that you are cool and comfortable throughout your entire trip.

Adequate Fuel Mileage When you travel a lot, the last thing you want is to have to stop often to fill the gas tank. Look for a vehicle that is fuel efficient so that you are getting the most drive time out of every full tank. This saves you both time and money when you are on the road.

A Few Things to Consider While Shopping for Used Cars

Shopping for used cars is a lot like shopping for new ones. Even though these quality used vehicles have been owned and driven before, they still have a lot of life left in them. In order to get a good deal, you need to shop carefully. Here are a few tips to improve your chances of getting a great used vehicle.

Inspect the Vehicles

You cannot look at a car and tell what condition it is in, you need to inspect it thoroughly. Even if you are not very knowledgeable about how cars work, you should still look under the hood to see if there are any detached cables or broken components. Look underneath the vehicle to see if there are any leaks or any hanging parts. Ask one of our sales staff for the keys to any vehicle you are interested in. Get inside of the car, turn it on, and listen to how the car sounds. Test out the windshield wipers, radio, air conditioner, and the turn signals.

Stick With Your Budget

Do not let the glamor and allure of shiny used cars inspire you to purchase one that costs more than your budget. One of the reasons why you are purchasing a used vehicle is to save money. There are plenty of affordable used cars for you to choose from. Even if want a specific vehicle, try to remain open minded. You never know when you may see something else that you would prefer instead.

Take Your Time

Regardless of how excited you feel, take your time. People that rush when they are making selections and purchases, often end up suffering from buyer’s remorse later on. Purchasing a car is an investment, and in order for you to make the best decision, you need to consider all of your options.

Come down to our dealership and let us assist you every step of the way. Tell us what you need and we will get you into a vehicle that you can afford and love.

What You Need to Know About Buying a Car With Bad Credit

If you need a new vehicle but have bad credit or no credit, you need to approach the car buying process a bit differently than how someone with good credit would approach it. If you want to drive away in a new vehicle without signing on for a loan with outrageous rates and impossible to meet terms, there are a few things you need to know about car shopping with bad credit, such as the following:

Know Where to Shop

Many dealerships that offer bad credit car loans are buy here, pay here car lots. These lots offer on-site financing which, though appealing at first, actually result in huge headaches and lost money. These lots have a reputation for selling overpriced, low quality vehicles, and of giving out loans with impossible terms and rates. In the end, they end up with their vehicles back, and victims of the scam end up with worse credit and still no car.

A Little Improvement Goes a Long Way

If you have time to shop for a vehicle, take steps to improve your credit while you’re looking. The more timely payments you make, the more your score will improve. Pay off all overdue accounts, and if possible, pay off a few accounts in their entirety. By doing this for just a few months, you may increase your score significantly and no longer even need to worry about bad credit weighing you down.

Big Down Payments Help

Again, if you have the time to do so, save a bit of money before you go car shopping. With a bigger down payment, you won’t need to borrow as much, which means lower monthly payments, a shorter term and possibly better rates.

Shopping for a vehicle with bad credit may be difficult, but it’s not impossible. By knowing where to shop, improving your credit score as much as possible prior to going shopping and putting down a big down payment, you can save yourself time, hassle and money on your new vehicle.

Please take a couple of minutes and start the process with a dealership that truly cares by filling out our secure online credit application.

Regular Car Maintenance Keeps Your Vehicle Running Well

Keeping your car running smoothly includes routine maintenance. Doing what needs to be done on a regular schedule will keep your vehicle dependable, safe, and running longer. It also keeps your car more energy efficient, which will save you money. Get regularly scheduled car maintenance to spot problems before you break down on the road.

Every month, you should check your tire inflation and the condition of your tires. A small pocket tire pressure gauge will warn you if your tires are underinflated. At same time, make a point to check the oil level and windshield washer fluid. It’s a good policy to check your lights to ensure they are all working as well.

Every 3 months, you should check all the fluid levels, including the transmission, power steering, and coolant. It’s important to check the belts and connections, air filter, and hoses at this time. A professional mechanic can often spot minor problems that can be adjusted and fixed before they become major problems.

It used to be recommended that cars should get oil changes every 5.000 km, but your car may not require it that often. The driving conditions and engine make and model of your car could lengthen the time between oil changes. When you check your oil each month, you will see the color change as it degrades from use.

By going to the same mechanic on a regular basis not only will you ensure your vehicle’s dependability, but you will get an education on how to take care of your car more efficiently. When you get to know your mechanic, you will learn tips to help keep your car in prime operating condition.

Bring your car to our trusted dealership for regular car maintenance. You’ll have peace on mind on the road that your car is running at its best. In the worst case scenario when your car does break down, you’ll have the confidence in our mechanics to fix it correctly and without breaking your budget.