WA State Licensing (DOL) Official Site: Transfer ownership of a vehicle when buying from a private party #auto #connection


#auto bill of sale
#

2. Gather the information you ll need

Find out how much it will cost by contacting a vehicle licensing office location .

3. Complete all necessary forms

  • Vehicle/Vessel Bill of Sale Completed by you and the seller.
    • Enter sale price This is used to calculate the use tax .
    • Enter zero if it s a gift or inheritance.
  • Vehicle Certificate of Ownership (Title) Application Sign it in front of a:
    • notary public, or
    • licensing agent at an office .

4. Submit your forms and payment

Submit the following to an office :

  • Vehicle/Vessel Bill of Sale,
  • Vehicle Certificate of Ownership (Title) Application,
  • The current vehicle title, and
  • Payment contact an office for the exact amount.

If needed, also submit:

  • Emissions testing report,
  • Affidavit of Loss/Release of Interest, or
  • Odometer Disclosure Statement.

Getting your title

How quickly do you want your title?

  • You can visit or mail your forms and payment to an office .
  • It will take 8 10 weeks to get your title.

If you need it faster than 8 10 weeks:

  • You can visit or mail your forms and fees to a Quick Title office * .
  • It ll cost $50 plus the title fees.

* Note: Quick titles aren t available for snowmobiles, vehicles or boats reported as stolen, insurance or wrecker-destroyed vehicles and boats, or vehicles with WA Rebuilt on the title.

5. Get new license plates

Since the vehicle has changed ownership, you ll need to get new plates.

There are exceptions Plates don t need to be replaced if:

  • You re removing a deceased spouse or domestic partner from the title.
  • You got your vehicle from:
    • your spouse or domestic partner,
    • a family member as a gift or inheritance, or
    • a trust in which the registered owner or their immediate family members are the beneficiaries of the trust.

6. Add the vehicle to your License eXpress account

  • See when your vehicle s tabs are due.
  • Make sure your address is up-to-date.
  • Sign-up or update email renewal notices and more.

CARSTAR Auto Body Repair Experts offers financing for your vehicle repair when you have an auto accident. #used #hondas


#auto collision repair
#

Financing

It s traumatic enough to be in an accident. Unfortunately, paying for the repairs afterward can be just as stressful. You need your car now, even if you don t have the money now, because life won t wait around for you. That s why CARSTAR offers the CarCareONE credit card. Rest easy and get your car fixed, then pay for it later down the road.

No Interest If Paid In Full In 6 months* on purchases of $299 or more with your CARSTAR/CarCareONESM card. Interest will be charged to your account from the purchase date if the promotion balance including optional charges, is not paid in full within 6 months or if you make a late payment. Minimum Monthly Payments Required. Click here to download a financing application form.

*Valid on minimum purchase of $299 on CARSTAR/CarCareONESM card account. On promo purchase balance, monthly payments required, but no Finance Charges will be assessed if (1) promo purchase balance paid in full in 6 months and (2) all minimum monthly payments on account paid when due. Otherwise, promo may be terminated and treated as a non-promo balance. Finance Charges accrued at the Purchase APR will be assessed from purchase date. Regular rates apply to non-promo balances, including optional charges. Promo purchases on existing accounts may not receive full benefit of promo terms, including reduced APR if applicable, if account is subject to Penalty APR. Payments over the minimum will be applied as required by applicable law. As of 9/20/2012, APR 28.99% on all accounts in default, Penalty APR: 29.99% . Minimum Finance Charge $2.00. Subject to approval by GE Money Bank.

Long Island Divorce Lawyer – Nassau County Family Law Attorney – Law Office of Darren M #call #516-333-6555, #effective #divorce #and #family #law #mediator, #a #lawyer #that #wants #to #resolve #expeditiously #in #a #good #way #for #you # # #but #fights #hard #when #called #for!


#

Long Island Divorce Lawyer

Darren M. Shapiro, Esq. provides effective and reasonable solutions for matrimonial and family law issues as an attorney or mediator. His straight talk, approachability, tenacity and years of experience with divorce and family law cases, make this office the right selection for many individuals or couples that have divorce, separation, child custody, support, order of protection and other family law needs. Couples contemplating mediation are encouraged to come in for a half hour no fee consultation. Individuals seeking the representation of a Long Island divorce attorney, please call for a free initial consultation either on the phone or in the office.

Situated in Nassau County, nestled in between Queens and Suffolk, this office services people and cases throughout the Long Island and New York City region. The Law and Mediation Office of Darren M. Shapiro, Esq. has a toolbox of litigation, collaborative law and mediation skills to find the approach that fits each individual and family. Divorce, Separation. Child Custody. Child Support. Prenuptial Agreements, and Postnuptial Agreements are all areas of law that are handled by this office and can be tackled through mediation, collaborative law or litigation. Orders of Protection, also known as Family Offense proceedings, are a major area of law this office handles but are usually not handled in a mediation or collaborative law context because of the behavior that is the subject matter of these cases.

There are many aspects to matrimonial cases that need to be addressed, in an agreement or stipulation of settlement, that are subjects that Mr. Shapiro has gained a great deal of experience with over the years in Supreme Court, Family Court and in the office working with couples in mediation or through consultations with individuals. When a separating couple has children, child custody, parenting time aka visitation and child support have to be resolved. With or without children, married couples have to consider whether alimony, which is now called maintenance, will be required and if so how much and for how long. Equitable distribution of marital assets, including retirement benefits, identification of separate property and an allocation of marital debt should be discussed in any pre or post nuptial agreement, separation agreement, judge s order, or stipulation of settlement of a divorce.

The goal of this office, whether acting as your lawyer or mediator, is to get you through the process, with results that meet your wishes and needs, as expeditiously as possible. When people come here, there is some family law issue that needs addressing. We are going to do our best to resolve this issue or issues, so that your problems are in the rear view mirror, so to speak, sooner rather than later.

If Darren is your Long Island divorce lawyer, we will discuss your desires and explore if a settlement can be reached on your case right away. Sometimes a settlement is not possible at the outset. In that case, he will fight hard for your cause. Often, after some litigation, a settlement is obtainable. Other times, cases require a hearing or trial. Mr. Shapiro can zealously represent you through the whole process. In a collaborative law case, he will provide you with the personal legal advice that you need to hear. All the while, in collaborative matters, we will be working with the other lawyer(s), coaches, professionals and parties that are involved to craft a practical solution for you and your children that makes sense and will hopefully withstand the test of time. As a mediator, Darren will try to get you to form an agreement as quickly as possible. However, if time is needed to sort through the issues in mediation, he is patient and available, until an agreement that makes sense to both of you is constructed.

Click around the website, watch the videos, and read the blog entries to learn more about particular topics. Please call for your free initial consultation. It will be our pleasure to speak with you about your situation.

Darren was excellent in court and able to negotiate a fair settlement in my Child support case.

Hands down, he is the best att’y I have ever dealt with. He is thorough, objective, and above all, extremely dedicated.

  • Five Things You Might Not Know about New York Child Support Today’s blog is a blend of some of my prior blogs and/or website articles over the years on child support. As a New York divorce lawyer and family law
  • Serving a Summons with Notice in a New York Divorce Divorces in New York follow many of the same procedures as other lawsuits. The plaintiff spouse filing must provide the defendant spouse with notice
  • Long Island Court Grants Legal Custody of Child to Three People Laws relating to child custody have gone through a number of significant changes in recent years, which largely reflect the fact that the concept of

WA State Licensing (DOL) Official Site: Transfer ownership of a vehicle when buying from a private party #auto #parts #online


#auto bill of sale
#

2. Gather the information you ll need

Find out how much it will cost by contacting a vehicle licensing office location .

3. Complete all necessary forms

  • Vehicle/Vessel Bill of Sale Completed by you and the seller.
    • Enter sale price This is used to calculate the use tax .
    • Enter zero if it s a gift or inheritance.
  • Vehicle Certificate of Ownership (Title) Application Sign it in front of a:
    • notary public, or
    • licensing agent at an office .

4. Submit your forms and payment

Submit the following to an office :

  • Vehicle/Vessel Bill of Sale,
  • Vehicle Certificate of Ownership (Title) Application,
  • The current vehicle title, and
  • Payment contact an office for the exact amount.

If needed, also submit:

  • Emissions testing report,
  • Affidavit of Loss/Release of Interest, or
  • Odometer Disclosure Statement.

Getting your title

How quickly do you want your title?

  • You can visit or mail your forms and payment to an office .
  • It will take 8 10 weeks to get your title.

If you need it faster than 8 10 weeks:

  • You can visit or mail your forms and fees to a Quick Title office * .
  • It ll cost $50 plus the title fees.

* Note: Quick titles aren t available for snowmobiles, vehicles or boats reported as stolen, insurance or wrecker-destroyed vehicles and boats, or vehicles with WA Rebuilt on the title.

5. Get new license plates

Since the vehicle has changed ownership, you ll need to get new plates.

There are exceptions Plates don t need to be replaced if:

  • You re removing a deceased spouse or domestic partner from the title.
  • You got your vehicle from:
    • your spouse or domestic partner,
    • a family member as a gift or inheritance, or
    • a trust in which the registered owner or their immediate family members are the beneficiaries of the trust.

6. Add the vehicle to your License eXpress account

  • See when your vehicle s tabs are due.
  • Make sure your address is up-to-date.
  • Sign-up or update email renewal notices and more.

Mortgage Refinance in Canada #when #to #refinance #a #mortgage


#

Mortgage refinance

A mortgage pre-approval shows you, the homebuyer, what value of home you can afford, and the mortgage payments associated with various purchase prices. It also guarantees a mortgage rate for a period of time; therefore, protecting you against potential rate increases. You are not obligated to the bank or mortgage broker to whom you received your mortgage pre-approval, and there is no cost. So, there is limited downside to obtaining a pre-approval.

Refinance at a lower mortgage

Build a stronger financial future today: let RateHub.ca connect you to Canada s best mortgage rates.

Best variable rates 1.75 %

Reasons to refinance your mortgage

1. To take advantge of low interest rates

Don’t let penalties deter you; first, know the numbers. Breaking your contract for a lower interest rate can save you money over time, depending on the penalty and the size of your outstanding mortgage. If you hold a variable rate mortgage, then expect to pay a penalty of three months interest, and if you hold a fixed rate mortgage, then you will pay the greater of three months interest or interest rate differential penalty (IRD).

2. To access equity (cash) in your home

By refinancing, you can access up to 80% of your home’s value less any outstanding mortgages. That’s extra money for investment opportunities, home renovations, or your children’s education. There are several ways to access this equity including breaking your mortgage, taking on a home equity line of credit or blending and extending your mortgage with your current lender.

3. To consolidate debt

If you have enough equity in your home, you will be able to pay-out high-interest debt through a refinance. For example, if you have a number of outstanding debts, such as a car loan, a line of credit, or credit card bills, you may be able to consolidate all of the debt through the variety of refinance options available.

Methods of refinancing your mortgage

There are several options available to you when considering a refinance which include: breaking your mortgage contract early, taking out a home equity line of credit or blending and extending your mortgage with your current lender.

1. Break your existing mortgage contract early

You would consider breaking your mortgage early if you wanted to obtain a lower interest rate or access equity from your home. In this case you eliminate your existing mortgage and take on a brand new one with any lender.

2. Add a home equity line of credit

A home equity line of credit gives you access to the equity in your home at your own discretion. You are responsible for interest only payments each month on the outstanding balance. You can access a home equity line of credit through your existing lender and a small subset of other lenders.

3. Blend and extend your existing mortgage

Your existing mortgage lender may offer you a ‘blended rate’; essentially, a ‘blend’ of your current mortgage rate plus any additional money you borrow at current market rates. Blended rates are almost always higher than the most competitive mortgage rates on the market, so make sure you compare the blended rate against the savings if you break your mortgage.

Costs of refinancing your mortgage

The cost to refinance your mortgage depends on the strategy you use to access equity or lower your interest rate. No matter which strategy you use you will always incur legal costs as a laywer must change the financing on title. The good news is if your mortgage balance is greater than $200,000, many brokers and/or lenders will cover this cost.

If you are breaking your mortgage in the middle of your term to access equity or lower your interest rate your lender will charge you a prepayment penalty. For fixed mortgage rates this penalty is the greater of three months interest or the interest rate differential payment (IRD). For variable mortgage rates this is simply three months interest.

Calculate your Mortgage Penalty

Thinking about breaking your mortgage early? Let RateHub help you calculate your refinance penalty.

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When to Refinance – State Farm. #a-1 #auto #parts


#refinancing auto loan
#

When to Refinance

Home mortgage refinancing is always an option, but it does not always make good financial sense for everyone.

When Should I Refinance My Home Mortgage?

There are three options to consider when refinancing:

  • Do you want to obtain a lower monthly payment?
  • Do you want to pay off your mortgage early?
  • Do you want a lower monthly payment without lengthening the term of your loan?

In addition to these options, also consider how long it will take you to get back the money you spend on your home mortgage refinance closing costs with the savings in your monthly payments.

You need to know your current rate and the rate at which you would refinance.

Virtually all home mortgage refinances at a lower rate will pay for your home mortgage refinance costs eventually. The questions become:

  • How soon do you want to realize these savings?
  • Will you realize these savings before you expect to purchase another home?

If you expect to live in your home for another three to five years, your monthly savings will generally offset the costs of your home mortgage refinance within that time.

If you plan to stay in your property for a shorter period, or if it will take significantly longer to recognize your monthly savings, you may want to consider other options.

You may also want to evaluate how many years will be added to your mortgage payments. You may not want to add another 10 or 15 years to your mortgage payments if you only have 10 years remaining.

You may want to pay off your mortgage early. To do this, consider refinancing to the lower payment, but continue making a higher payment to pay off the mortgage early.

Finally, you may not want to extend the term of your loan. Review the new rate and payment based on the remaining years you have left on your current mortgage and determine if you have monthly savings.

How Much Can I Expect In Home Mortgage Refinancing Costs?

Home mortgage refinancing costs are very much like the costs paid for your original mortgage. These costs may include, but are not limited to:

  • Appraisal fee
  • Property survey
  • Hazard insurance
  • Attorney/legal fees
  • Mortgage insurance, if applicable
  • Loan origination fees
  • Title search/insurance fees
  • Credit report fee
  • Flood determination fee

The sum of these fees could cost you up to 2-5% of the loan amount, depending on your property location. But there are options available to deal with these costs.

Depending on what you are trying to accomplish, a home equity loan or line of credit may be the right option. State Farm Bank can help you unlock the value of your home. A State Farm Bank Home Equity Loan or Home Equity Line of Credit can help you tap into the equity you have built up to accomplish any number of tasks:

  • Consolidation of high interest debt
  • Home improvements
  • Education expenses
  • Medical expenses

This information is intended to help you ask the right questions when considering a possible refinancing of your loan or a home equity product. For more information, contact a participating bank agent in your area or call State Farm Bank toll-free 888-556-3498.

WA State Licensing (DOL) Official Site: Transfer ownership of a vehicle when buying from a private party #auto #shipping #rates


#auto bill of sale
#

2. Gather the information you ll need

Find out how much it will cost by contacting a vehicle licensing office location .

3. Complete all necessary forms

  • Vehicle/Vessel Bill of Sale Completed by you and the seller.
    • Enter sale price This is used to calculate the use tax .
    • Enter zero if it s a gift or inheritance.
  • Vehicle Certificate of Ownership (Title) Application Sign it in front of a:
    • notary public, or
    • licensing agent at an office .

4. Submit your forms and payment

Submit the following to an office :

  • Vehicle/Vessel Bill of Sale,
  • Vehicle Certificate of Ownership (Title) Application,
  • The current vehicle title, and
  • Payment contact an office for the exact amount.

If needed, also submit:

  • Emissions testing report,
  • Affidavit of Loss/Release of Interest, or
  • Odometer Disclosure Statement.

Getting your title

How quickly do you want your title?

  • You can visit or mail your forms and payment to an office .
  • It will take 8 10 weeks to get your title.

If you need it faster than 8 10 weeks:

  • You can visit or mail your forms and fees to a Quick Title office * .
  • It ll cost $50 plus the title fees.

* Note: Quick titles aren t available for snowmobiles, vehicles or boats reported as stolen, insurance or wrecker-destroyed vehicles and boats, or vehicles with WA Rebuilt on the title.

5. Get new license plates

Since the vehicle has changed ownership, you ll need to get new plates.

There are exceptions Plates don t need to be replaced if:

  • You re removing a deceased spouse or domestic partner from the title.
  • You got your vehicle from:
    • your spouse or domestic partner,
    • a family member as a gift or inheritance, or
    • a trust in which the registered owner or their immediate family members are the beneficiaries of the trust.

6. Add the vehicle to your License eXpress account

  • See when your vehicle s tabs are due.
  • Make sure your address is up-to-date.
  • Sign-up or update email renewal notices and more.

Top 5 Biggest Mistakes to Avoid When Buying a Car #used #cars #online


#buying a car
#

Top 5 Biggest Mistakes to Avoid When Buying a Car

Continue Reading Below

5 Car Buying Mistakes to Avoid

When you re in the market for a new vehicle, the best thing you can do for yourself is be prepared. So here are the 5 biggest mistakes to avoid when purchasing your next vehicle:

  1. Thinking in terms of monthly payment. Not very many people walk into a car dealership and plan on writing a check or paying cash for their vehicle, and the salespeople know this. In fact, many of them rely on this fact in their sales pitch. This also explains why the negotiation almost always revolves around how much you can afford to pay for the car each month. But focusing on a monthly budget is by far the easiest way to spend too much on your next vehicle. When negotiating a price, the dealer can do a number of things to make almost any vehicle fit your budget. They can do this by adjusting interest on the interest rate. offer you a longer term on the loan, or restructure the financing in a way that creates a payment that fits into your budget. It may not seem like a big deal, but even a few extra percentage points or an additional year on the loan can add thousands of dollars to the total cost of the vehicle. When the average car payment in the U.S. has been between $471 and $482 per month for the last few years, it s worth looking at what that money is actually getting you.
  1. Buying new versus used. A vehicle is not an investment – at least not a good one. Vehicles depreciate in value quickly, so when you buy a new vehicle, you can expect it to continuously decrease in value from the moment you take ownership. In fact, a new car typically decreases in value by 25%-40% in the first two years. The best thing you can do is to let someone else take the initial 40% hit by buying a slightly used vehicle that is a year or two old.

Years ago, there was a good reason to buy new and that was for the warranty. Today, most vehicles have longer warranties that can still be in effect even if you buy a car that is a few years old. Additionally, you can often opt to purchase an extended warranty, which is typically far cheaper than the value the car lost in the first year or two.

Continue Reading Below

  1. Choosing the wrong vehicle. Are you a single person who needs a vehicle just to get you to and from work every day? Then you probably don’t need that $45,000 SUV that seats eight and can tow 5,000 pounds. You want a vehicle that meets your specific needs. Sure, there are a lot of cars and trucks out there that will turn heads, but keep in mind that many of these will come at a premium.
  • Not taking into consideration other costs. The actual cost of the vehicle is important, but what is often overlooked are all of the hidden long-term maintenance and insurance costs that go along with a vehicle. Keep in mind that car insurance premiums typically increase with the value of a vehicle, so buying a more expensive vehicle will increase your annual insurance costs. This can amount to hundreds, if not a thousand dollars or more per year.

    In addition to insurance, you have to take into account all of the maintenance costs. Vehicles need oil changes, new brakes, air filters, tires, and much more. Luxury or performance models are generally going to require higher end replacement parts that can cost much more than their standard counterpart.

    Finally, you need to consider gas consumption. The average person will drive between 10,000 and 15,000 miles per year. A vehicle that gets an average of 30 miles per gallon with today’s gas prices. you can expect to spend between $1,000 and $1,500 per year on gas alone. Now, consider a vehicle that only gets about 15 miles per gallon. Now you’re spending $2,000 and $3,000 each year.

    When you think about it, by the time you factor in gas, oil changes. insurance and regular maintenance, you can expect to spend $3,000 to $5,000 in addition to your monthly car payment each year!

  • Putting $0 down. There are a lot of incentives when it comes to buying a car, and you can often put yourself in a brand new vehicle of your choice with no money down. Sounds great, right? Not so fast. Remember, vehicles depreciate rapidly, so if you finance the full purchase price, you often find yourself upside down on the loan immediately.

    Being upside down simply means that you owe more than the car is worth. Remember, there are taxes and other fees that go into a new car purchase, and they are typically rolled into the loan if you don’t put anything down. That means as soon as you drive it off the lot, you owe more money to the bank or dealership than the vehicle is actually worth.

    This is a very bad idea if you intend on selling or trading the car in before the loan is paid off. If after three years you need to get a new vehicle and you owe $10,000 while the car is only worth $8,000, you will have to either pay $2,000 out of your pocket, or finance that into your new loan. It may feel good to walk out of the dealership with a brand new car without having to fork over a dime up front, but it will cost you.

    Want more tips for saving money? Sign up for the Money newsletter  and get insights from our personal finance experts, delivered straight to your inbox.

  • Buying a New Car When You Have Bad Credit #auto #salvage #parts


    #auto refinance with bad credit
    #

    Buying a New Car When You Have Bad Credit

    1 of 4

    Let’s say you’ve made a few late payments on your bills. Perhaps you have a maxed-out credit card. Or maybe you bought more car than you actually needed and couldn’t keep up with the payments. Hey, it happens. But now it’s time to buy another car and you have serious doubts as to whether you’ll get approved for a loan.

    A few years ago, we tested the theory of buying a debt-free car as an alternative to buying at a used-car lot or a “buy here, pay here ” dealership. We concluded that for some, the maintenance and repairs may prove too much for people to handle.

    Buying a new car outright won’t reestablish your credit. You’ll need to take out a loan for that. But what options do you have? The “buy here, pay here” dealerships might be one alternative, but not all of them report your payment progress to the credit bureaus. Plus, you’re still buying a used car that may require repairs. Is a new car out of the question? Not necessarily.

    It is possible to buy a new car with bad credit if you know where to look and how to prepare. Here’s how this kind of car buying works and what to keep in mind throughout the process.

    Why Would a Dealership Finance Your Car?

    How can you buy a brand-new car when you have a spotty credit history? There are a number of reasons why a lender would let someone with a troubled credit history finance a new car.

    From the lender’s perspective, a new car has more value and therefore offers more collateral that can be reclaimed if the buyer fails to make payments. The lender also has the assurance that a new-car buyer will actually keep up with payments. His money won’t be diverted to the costly repairs that sometimes befall older cars.

    From the dealership perspective, a new car is an investment in a relationship that will pay off in other ways later on.

    “Half the time, we’re not making any money on the deals,” says Rinaldi Halim, general manager for Nissan of Duarte. a dealership in Southern California that says it’s proud of the fact it takes on clients in all credit tiers. “We want to have a relationship with that customer,” Halim says.

    One new-car sale won’t yield much (if any) profit, Halim says. But it will pay dividends when customers refer their family and friends, resulting in more car sales, including some that will be profitable for the dealership. The sales also pay off when people get their vehicles serviced in the maintenance department. Years later, the initial customers will likely trade in those “no-profit” cars for new ones. The dealership will sell the initial cars as used ones. And if they’ve been well maintained, they will turn a tidy profit for the dealership.

    Start Prepping Early

    If you’re someone who has bad credit but wants to buy new, it is best to start planning for it well in advance, as you would with any major purchase.

    You need to start with your credit report to see how it would look to a lender. Run it at least three months before you plan on buying so you can take action on any outstanding items, recommends Rod Griffin, director of public education for credit reporting company Experian.

    Annual Credit Report.com gives you one free report a year on each of the major credit reporting companies: Experian. Equifax and TransUnion. Take advantage of it.

    Getting your actual credit score typically costs money, but your score will give you an idea of the credit tier into which you fall. Experian defines subprime (which includes deep subprime, as low as you can go) as a 619 score or below on its Vantage scale.

    Once you get the free credit report, pay close attention to the section that points out potentially negative items, also called risk factors. Risk factors could be anything from an old debt that went to collection to a fine you had to pay in a civil court case.

    Rather than viewing them as black marks on your credit, “These risk factors can empower you as a consumer to help rehabilitate your credit,” Griffin says. The risk factors are present in all reports, so if you fix an issue you found on one credit report, the action will be reflected on all the other reports.

    Experian says it offers an added benefit with its credit report and score. For $40, you get your credit score from Experian and a 35-minute session with a credit educator. This person will go over your report and point out items that need attention and give you tips on how to address it.

    Get Pre-Approved and Choose a Dealer

    Because your credit is bad, you will be paying a high interest rate, perhaps as high as 18 percent in California, for example. But some rates still could be better than others. This is why it’s important to seek approval from more than one lender.

    To find out which car dealers may be willing to finance people with iffy credit, pay attention to radio commercials or billboards from dealerships that say things such as “Your job is your credit!” or “Bad credit? No Problem!” These are good places to start. Steer clear of the “buy here, pay here” lots, however, since they don’t sell new cars.

    Many dealership Web sites have credit applications you can fill out online to get pre-approved. If you don’t see the application on the front page, it may be under the “Finance” tab.

    Also, check with your own bank or credit union. They may be more willing to approve you since you already have an established financial relationship with them. You might also try Road Loans from Santander Consumer USA, which specializes in subprime loans.

    Don’t worry that filling out too many loan applications will harm your credit. “Lenders know you are searching for the best rate,” Griffin says. As long as you apply for loans in a 14-day period, they will only count as one “hard” inquiry on your credit report.

    Bring Documents To Show You’re a Good Credit Risk

    When you go into the dealership to talk about financing, you need to bring along some important paperwork. These items will allow a dealership to establish who you are and confirm that you have a job, that you have a history of making monthly payments on time and have friends or family the dealership can contact to find you if you stop making payments. Bring these items with you:

    • The most recent pay stub from your job
    • Your utility bill (gas, water, electricity)
    • Your driver license
    • Three personal references

    Stay in Your Price Range and Look at the Total Costs

    Most people know what they can afford for a monthly car payment. But that sometimes ignores the bigger picture. Just because you qualified to buy a $22,000 midsize sedan doesn’t mean you should buy it. For example, if you scale back and purchase a $17,000 compact sedan, you’ll free up $100 per month. This is money you could use for gas, insurance or to pay other bills.

    “We love our leather seats and sunroofs,” says Griffin, “but when your credit isn’t stellar, it is better to look at a lower-end automobile.”

    A Typical Deal and a Bad One

    Halim gives an example of a deal made for someone with bad credit: a $16,000 Nissan Versa. minus a $1,000 bonus cash incentive, financed for 72 months with $1,000 down. The interest rate would be around 17.9 percent, which would bring the monthly payment to about $354. At the end of the six years, you would have paid $25,485 for that Versa.

    These numbers will vary based on how much you’re putting down, what you’re financing and what you’ve been approved for, but it gives you a rough idea on what this type of deal looks like. A sizable percentage of the loan will be the interest ($9,927 in this example), but this is the reality when you’re borrowing in this credit tier.

    Just remember that it could be worse if you were dealing with a “buy here, pay here” car purchase. While talking to Halim, for example, we heard about a customer who had purchased a car from a “buy here, pay here” dealership and no longer wanted the car. The loan was for $4,200, to be paid over 36 months. The person already had made 22 payments of $322 and still owed $3,800 on the principal, thanks to an exorbitant interest rate. It approached the California legal maximum of 29.9 percent.

    Resist the Urge To Trade Up

    A number of new-car dealerships offer their credit-challenged customers the chance to trade into another vehicle without a significant increase in their monthly payment, provided they’ve made a year’s worth of consecutive on-time payments. While it may be tempting to get out of a Nissan Sentra and into a Nissan Altima. for example, you will be adding more debt to your next loan.

    If you want to move up to a larger or nicer car, a smarter strategy is to refinance the current loan for a lower interest rate and monthly payment, then stick out the loan until the initial car is paid off. When it’s time to purchase your next car, you should be in a higher credit tier (assuming you’ve also done well on your other bills), and will qualify for a nicer car.

    The New You

    If you’ve done your credit homework, shopped within your price range and made all your payments, you’ve not only improved your credit score but also set up positive finance habits that will serve you well for years to come.

    10 Things to Look for When Buying a Used Car #auto #tint


    #buying used cars
    #

    10 Things to Look for When Buying a Used Car

    With the high price tag of new cars, and the quick depreciation rate of new vehicles, many consumers look for used cars for sale instead. And while investing in a used car may seem like a judicious option, buyers still need to be smart in their choices. Used cars that are sold with hidden damage can become costly problems for the unsuspecting buyer. To avoid purchasing the proverbial lemon, here’s a checklist of 10 strategies and points from CARFAX to check to help ensure condition and value before buying a used car.

    1. The Test Drive

    It’s always best to take the car on a test drive on both local roads and highways. In different environments, you can get a good feel for how the car responds and performs. On local roads, you can feel how the car shifts and responds to sharp turns. You’ll also get a good idea on the condition of the brakes with stop-and-go. With a trip on the highway, you can note if the engine runs smoothly or not. While on a test drive, keep your eyes and ears open. Make sure to note any unusual engine noises and whether or not all of the electronics in the car are working properly.

    2. The Aesthetics: Inside and Out

    Both the inside and outside condition of the car play a large factor in value. Make sure to check the interior upholstery carefully, along with any repairs to the exterior of the car. That’s not to say you shouldn’t purchase a car that has been in a minor fender-bender, but you’ll want to make sure the exterior was repaired professionally and that the results are barely visible to the eye. Always open the hood and take a good look at the engine and parts. Dirty and rusted parts can be a strong indication that there may be trouble down the road.

    3. The Leak Test

    Any car that is leaking fluids is a red flag for a needed repair. While you’re on a test drive, take a moment to park in a clean area on the road, and let the car run for at least 30 seconds. Then, move the car and do a visible inspection for any leaking substances. Black fluid might be an indicator of leaking oil, green fluid may indicate a leak in anti-freeze, and pink fluid may indicate a leak in the transmission.

    4. Research Reviews on the Make and Model

    Do a bit of detective work on industry and consumer reviews on the make and model to uncover possible defects or even common problems. You can easily do a check by doing a search on Google.

    5. Research Price

    To ensure that you are being charged a fair price, make sure to compare prices for the same make, model and year with several sources. Checking the Blue Book values and dealer prices can easily be done online. Even though condition and mileage will play a role in price, you can still get a good ballpark figure of the going price.

    6. Mechanic Inspection

    Many consumers don’t take the time to have a mechanic inspect their used car before purchase, which can lead to more expensive car maintenance down the road. The cost to have a car inspected by a professional can be well worth the price. A mechanic is the professional who can help you discover hidden problems and also assist with determining the car’s value. If there are going to be major problems with the engine or transmission in the future, this is the pro who is going to let you know.

    7. Certified Pre-Owned Vehicles

    Purchasing a certified pre-owned car can be a wise choice because it offers the buyer an extra level of quality assurance. Many local car dealers offer these vehicles with warranties that extend beyond the initial new coverage.

    8. Buyer’s Remorse

    To avoid buyer’s remorse, never be too quick to pull the trigger when buying a used car. Taking the time to do thorough research and negotiating for the best price is the best way you can ensure you’re getting a good deal on the right vehicle.

    9. Decode the VIN

    Checking a VIN decoder chart  is a quick, easy, and free way to check a used car’s VIN info matches up with what’s in the vehicle title and records. VIN cloning is a scam where sellers replace the VIN of a stolen car with one that is legally registered. This type of fraud can easily be avoided by decoding the VIN of the vehicle in question.

    10. Vehicle History Report

    A vehicle history report can you help you reveal title problems, ownership history, service points and previous accidents, large or small. These reports can be available from dealers or ordered online. CARFAX offers one of the most comprehensive car reports available to purchase, which is pulled from a database of more than six billion car records.

    Following these 10 points and strategies can be a surefire way to help ensure that you don’t get stuck with a lemon. You’ll have all the information needed to help you make an informed decision, whether you decide to buy or not.

    Mike Orsini is the head of blog marketing at CARFAX. Headquartered in Centreville, VA, CARFAX is the most trusted provider of vehicle history information that is used by millions of consumers each year. CARFAX Vehicle History Reports™ are available on all used cars and light trucks model year 1981 or later.

    7 Things You Must Do When Buying a Used Car #replacement #auto #parts


    #buy used car
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    7 Things You Must Do When Buying a Used Car

    Besides buying a home, an automobile is one of the largest purchases most people will ever make. While a factory warranty typically covers issues for consumers who purchase new cars, buying a used car can be a bit more dicey, especially when dealing with a private seller.

    If you’re in the market to buy a used car, protect yourself with as much information as possible by following these seven steps:

    1. Purchase a vehicle history report

    Opinions vary as to the value of reports available from companies such as Carfax and Auto Check. But if a report indicates a car you would have otherwise purchased is a lemon or was severely damaged, it’s worth the investment.

    If you’re purchasing a used car from a lot, many dealers provide their customers a vehicle history report at no charge. If you’re dealing with a private seller, considering purchasing a vehicle history report to learn as much as possible about the car’s ownership history and any major damage. If you plan to evaluate multiple used cars, some vehicle information providers offer discounts for multiple reports.

    2. Get a pre-purchase inspection from a trusted mechanic

    While a vehicle history report may reveal important information about the car’s past, an inspection by a trusted auto repair technician is the best way to learn about the car’s present condition. Have the car inspected by somebody you know or have worked with in the past. Don’t put too much faith in a technician’s opinion if the seller referred you to them.

    Getting an inspection will require making arrangements with the seller to get the car to the shop. You will also probably need to provide the seller a hold fee, but consider it money well spent. The fee should be applied to the cost of the car or returned if the sale doesn’t materialize. Just make sure you put the transaction in writing and have the seller sign the agreement.

    3. Ask the right questions

    You might not consider yourself an auto expert, but there is plenty to be gained from asking the seller relevant questions. Are they the original owners? How long have they owned the car? What are their daily driving habits? How many miles did they usually drive? Was it highway driving or around town? Has the car ever been any accidents or fender benders?

    Most sellers understand that buying a car is a huge decision, so don’t shy away from asking questions that will provide the answers you need to make a confident buying decision. If a seller seems hesitant to answer or tries to dodge a certain question, it’s probably a sign that you should continue your car search elsewhere.

    4. Inspect for drips and leaks

    Even the least-savvy buyer can learn a lot by taking a peak below a car. Look for stains on the ground where the car has been parked that can indicate a radiator or oil leak.

    If you notice even a small puddle of brown or green fluid, take it as a sign that the car might be trouble down the road. If you notice that the car has been parked in various places, inspect the ground of the previous parking places for signs of engine leaks that should give you caution.

    5. Look at the service records

    Sellers who are serious about taking care of their cars will have paperwork that clearly indicates how well the car was maintained. Ask to see service receipts that indicate the oil has been changed, the tires rotated and the radiator flushed.

    Other items you might inquire about include receipts to indicate the wiper blades have been changed, the brake pads inspected and/or changed and the tires replaced. Learning as much as possible about the car’s history can tell you plenty about how the current owners have cared for it. While this information may not be available at a used-car retailer, it never hurts to ask.

    6. Trust your first impression

    Fast-food wrappers on the floor and dust on the dashboard won’t impact the car’s performance, but they can speak volumes about how well the owner cared for a car. A spotless interior is a good indication they’ve treated it well, but you’ll also want to look closely under the floor mats and in the trunk for signs that the car was neglected until it was time for sale.

    7. There’s no reason to rush

    Don’t be afraid to walk away from a potential purchase. Take your time to consider the pros and cons. Whether you’re dealing with a the infamous used-car lot salesman or a private seller in his driveway, avoid falling victim to the “act now or lose this great opportunity” pressure. If nothing else, your willingness to walk away may come in handy when it comes time to negotiate the sale price.

    When to Refinance – State Farm. #oreileys #auto #parts


    #refinancing auto loan
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    When to Refinance

    Home mortgage refinancing is always an option, but it does not always make good financial sense for everyone.

    When Should I Refinance My Home Mortgage?

    There are three options to consider when refinancing:

    • Do you want to obtain a lower monthly payment?
    • Do you want to pay off your mortgage early?
    • Do you want a lower monthly payment without lengthening the term of your loan?

    In addition to these options, also consider how long it will take you to get back the money you spend on your home mortgage refinance closing costs with the savings in your monthly payments.

    You need to know your current rate and the rate at which you would refinance.

    Virtually all home mortgage refinances at a lower rate will pay for your home mortgage refinance costs eventually. The questions become:

    • How soon do you want to realize these savings?
    • Will you realize these savings before you expect to purchase another home?

    If you expect to live in your home for another three to five years, your monthly savings will generally offset the costs of your home mortgage refinance within that time.

    If you plan to stay in your property for a shorter period, or if it will take significantly longer to recognize your monthly savings, you may want to consider other options.

    You may also want to evaluate how many years will be added to your mortgage payments. You may not want to add another 10 or 15 years to your mortgage payments if you only have 10 years remaining.

    You may want to pay off your mortgage early. To do this, consider refinancing to the lower payment, but continue making a higher payment to pay off the mortgage early.

    Finally, you may not want to extend the term of your loan. Review the new rate and payment based on the remaining years you have left on your current mortgage and determine if you have monthly savings.

    How Much Can I Expect In Home Mortgage Refinancing Costs?

    Home mortgage refinancing costs are very much like the costs paid for your original mortgage. These costs may include, but are not limited to:

    • Appraisal fee
    • Property survey
    • Hazard insurance
    • Attorney/legal fees
    • Mortgage insurance, if applicable
    • Loan origination fees
    • Title search/insurance fees
    • Credit report fee
    • Flood determination fee

    The sum of these fees could cost you up to 2-5% of the loan amount, depending on your property location. But there are options available to deal with these costs.

    Depending on what you are trying to accomplish, a home equity loan or line of credit may be the right option. State Farm Bank can help you unlock the value of your home. A State Farm Bank Home Equity Loan or Home Equity Line of Credit can help you tap into the equity you have built up to accomplish any number of tasks:

    • Consolidation of high interest debt
    • Home improvements
    • Education expenses
    • Medical expenses

    This information is intended to help you ask the right questions when considering a possible refinancing of your loan or a home equity product. For more information, contact a participating bank agent in your area or call State Farm Bank toll-free 888-556-3498.

    When To Hire A Personal Injury Attorney – Auto Insurance Claims at: The DMV Made Simple #advanced #auto #parts


    #auto accident attorney
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    When To Hire A Personal Injury Attorney

    When you’ve been in a car accident, you have a lot on your mind. Aside from any emotional turmoil and stress, you have to deal with your injuries, damage to your vehicle, handling your claim, and any other issues.

    Lawyers can help you deal with the process of your claim and reduce your stress in the process. The following information will help you determine whether hiring an attorney is the right choice for you.

    Property Damage

    One of the biggest losses after an accident is the loss of property. Your vehicle may be heavily damaged and, in some cases, be considered a total loss.

    It’s typically the car insurance company’s prerogative to either:

    • Deem your car a total loss.

    First, you’ll need to determine whether your coverage will pay or whether the other company will pay. For instance:

    • If you are at fault. you’ll seek reimbursement through your own policy.
    • If you are not at fault. you’ll generally seek payment through the other insurer.
    • In some cases (e.g. if you live in a no-fault state. or you were in a hit and run ), you may seek compensation from your own car insurance company.

    Regardless of the company from which you’re seeking payment, you might find their initial claim offer is insufficient to fully cover your repair or replacement costs.

    If you don’t have the energy or knowledge to pursue a more substantial claim, you need the services of an attorney to ensure you get what you deserve.

    Personal Injury

    If you are injured as a result of an accident, you need to get the proper medical care right away. If you delay, it can be harder to prove your injuries resulted from the car accident.

    Your payment for care will depend on the coverages in your policy. If you are not at fault, your bills will be paid for by the other driver’s liability coverage. If you live in a no-fault state, however, you can seek payment from your personal injury protection (PIP) coverage to get your bills without the delay of negotiation between companies.

    You can also seek payment from:

    • Medical payments coverage. if it’s included in your policy.
    • Uninsured motorist coverage. if you have it and you were hit by an uninsured or underinsured driver (or were in a hit and run accident).
    • Your health insurance policy.

    When You Need a Personal Injury Attorney

    As you seek reimbursement, remember that it’s extremely common to get pushback on these expenses. Insruance companies try to avoid paying more than they need to and will check to make sure all the expenses are valid. Keep all of your documentation and receipts. If you continue to have trouble getting your medical bills paid, seek the counsel of a personal injury attorney .

    Attorneys have experience working with insurance providers to get the highest possible settlement amounts for clients.

    They also have experience getting compensation for general damages that are difficult to determine, such as:

    • Pain and suffering.
    • Mental anguish.

    For example, if you’ve lost your vision due to an accident resulting from another driver’s negligence, a personal injury lawyer can help you get general damages in addition to the actual costs of your medical bills.

    Statute of Limitations

    If you have been injured or you have lost any type of personal or business property due to an accident, don’t wait to get the help you need and deserve.

    You have only a short amount of time under local, state, and federal law to file your claim and protect your rights. This time limit is called the statute of limitations , and varies by state.

    If you feel you need an attorney to navigate your claim, contact one without delay.

    Having the help of an experienced attorney can leave you free to concentrate on healing and moving on with your life.

    Was this information helpful?

    WA State Licensing (DOL) Official Site: Transfer ownership of a vehicle when buying from a private party #online #auto #parts #canada


    #auto bill of sale
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    2. Gather the information you ll need

    Find out how much it will cost by contacting a vehicle licensing office location .

    3. Complete all necessary forms

    • Vehicle/Vessel Bill of Sale Completed by you and the seller.
      • Enter sale price This is used to calculate the use tax .
      • Enter zero if it s a gift or inheritance.
    • Vehicle Certificate of Ownership (Title) Application Sign it in front of a:
      • notary public, or
      • licensing agent at an office .

    4. Submit your forms and payment

    Submit the following to an office :

    • Vehicle/Vessel Bill of Sale,
    • Vehicle Certificate of Ownership (Title) Application,
    • The current vehicle title, and
    • Payment contact an office for the exact amount.

    If needed, also submit:

    • Emissions testing report,
    • Affidavit of Loss/Release of Interest, or
    • Odometer Disclosure Statement.

    Getting your title

    How quickly do you want your title?

    • You can visit or mail your forms and payment to an office .
    • It will take 8 10 weeks to get your title.

    If you need it faster than 8 10 weeks:

    • You can visit or mail your forms and fees to a Quick Title office * .
    • It ll cost $50 plus the title fees.

    * Note: Quick titles aren t available for snowmobiles, vehicles or boats reported as stolen, insurance or wrecker-destroyed vehicles and boats, or vehicles with WA Rebuilt on the title.

    5. Get new license plates

    Since the vehicle has changed ownership, you ll need to get new plates.

    There are exceptions Plates don t need to be replaced if:

    • You re removing a deceased spouse or domestic partner from the title.
    • You got your vehicle from:
      • your spouse or domestic partner,
      • a family member as a gift or inheritance, or
      • a trust in which the registered owner or their immediate family members are the beneficiaries of the trust.

    6. Add the vehicle to your License eXpress account

    • See when your vehicle s tabs are due.
    • Make sure your address is up-to-date.
    • Sign-up or update email renewal notices and more.

    Refinancing a Car Loan When You Bad Credit. #auto #air #conditioning #repair


    #auto refinance bad credit
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    Refinancing a Car Loan When You Bad Credit

    If you need to refinance a car loan, bad credit can seriously affect your chances of obtaining the best rates. When you find someone to refinance your loan, you will discover that you might be able to decrease the loan term or the interest rate to make handling the loan easier.

    This will help you make the payments on time and improve your credit as a whole.

    Find a Company to Help You

    Looking online for a company with a good reputation is the best way to find a suitor to help with your refinancing requirements. If you happen to know a local company, you can contact them for a quote on a bad credit car loan. If you look online, make sure the company has the proper accreditations and are part of the Better Business Bureau for loan protection.

    Start by searching for a company where the application process is easy, and the auto loan interest rate is better. It is smart to stay away from prime lenders. These places will usually only work with people who have excellent credit. Do some research and look into going with sub-prime or high-risk lenders. These professionals specialize in dealing with bad credit refinancing.

    Most sites have an apply now button where you input your personal details and the amount of money requested. After a credit check, the company will subsequently approve or deny you. If your application is successful, they will advise you of the next steps and anything you need to provide in terms of written proof. Also make sure that when you fill out a form online, that you are redirected to a secure server before you enter your details. Secure servers are usually indicated by the address bar turning a light shade of green and the HTTPS:// will be displayed instead of the usual HTTP://.

    Alternative Options

    If you once had good credit and your circumstances have forced you into hard times, you can always try your bank or local credit union. Banks may be able to help you before you try outside sources. Even with bad credit, some banks will still offer a loan to a well-known customer who has previously been exemplary in paying their bills.

    Trade-In

    Call the lender and find out what the loan balance is. After you have done that, you should figure out what your car is worth. This is very important with bad credit because you need to have a vehicle that is worth more than what you owe on it. Kelley Blue Book is a good resource for this.

    Secure Your Loan

    You may need to secure your loan on your home. If you are a mortgage holder or homeowner, you may be better advised to get a bad credit loan from a company who secure the loan on your home. You will be offered a better rate of interest on your car loan refinance and of course, you will need to keep the payments because they will put a lien on your home until it is paid it full.

    Send Your Application

    Once your application is mailed to you for signing, you need to make sure you have all the necessary information to hand. You may need to supply photocopies or originals of bank statements, pay stubs, tax information and anything relevant to the loan company s request. If you need to mail off originals, then it is a good suggestion to make sure that you mail it recorded delivery so it will be signed for as proof of receipt by the recipient.

    Receive Your Loan Agreement

    While refinancing a car loan with bad credit may seem like a thorough process, you can stop the process whenever you want to do so. You still have the situation that precipitated your request in the first place. If you decide to halt the process, work with your bank or loan officer to find a solution to your problem. Perhaps the bank has a buyer looking for a vehicle that is like yours. This buyer may be willing to take the vehicle off your hands for the remainder of your loan. Be sure there are no resulting penalties from your attempted refinance.

    Refinance Auto Loan – When to Refinance Your Car Loan #new #autos


    #auto loan refinancing
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    5 situations when it makes the most sense to refinance your car

    By Russ Heaps • Bankrate.com

    With interest rates remaining so low, an auto refinance may have crossed your mind — and it could be a good idea.

    Doing so could save hundreds of dollars each year and sometimes thousands over the life of the loan.

    If your current car loan interest rate is above 6%, you might want to investigate refinancing.

    Unlike refinancing your mortgage or even consolidating credit card balances, refinancing your vehicle loan is usually quick, easy and painless. No appraisal will be required. And usually there are minimal, if any, fees.

    But refinancing is not for everyone. It makes sense if, since the original loan, you find yourself in one or more of these five situations:

    • Interest rates have dropped. If interest rates have dropped more than a couple of points since purchasing your vehicle, you could save some money. In this case, loans at refi rates are considered used car loans and as such, the rates usually are higher than new car loans. Remember, even a percentage point or 2 can make a big difference over the life of the loan.
    • Your credit score has improved. If you had a few negatives on your credit report — or had no history of credit — when you bought your car, but your credit is healthier now, you may qualify for a lower interest rate. Interest rates of 18% or more for consumers with a thin credit history are common. Several months of on-time payments could entice a lender to refinance that loan at a lower rate. Steve Schooff, a former spokesman for Capital One Auto Finance, says consumers should check their credit scores before refinancing.

    Your credit score has a major influence on auto loan rates. Get your score for free at myBankrate .

  • You didn’t get your best rate when you purchased. Just because you had a high credit score and unblemished credit history doesn’t mean you got the best rate you could have received when you purchased the car. Dealer-sourced vehicle loans commonly carry a higher rate than the consumer deserves because the consumer simply didn’t know better. The extra money is a profit source to the dealer, like rust-proofing or extended warranties. When this is discovered after the fact, it may pay to refinance.
  • Your personal financial landscape has deteriorated. If you have had a financial setback and need to reduce your payments, refinancing could be a solution by increasing the loan term, thereby lowering the monthly payment.
  • Your car lease is expiring and you want to purchase the vehicle. When you fulfill the terms of a lease, you typically have the option to buy the vehicle.
  • Finding a lender that refinances is the easiest step in the process. Credit unions do big business in vehicle loan refinancing and they have money to lend. You will need to open a checking or savings account at one if you’re not already a member.

    How much can you expect to save? According to Schooff, if one year ago you took a $25,000 auto loan for five years at 7.75% interest, refinancing the balance today at:

    • 4.75% for the remaining four years of the loan would save $1,373 — $28.60 per month.
    • 5.75% for the remaining four years of the loan would save $906 — $18.88 a month.
    • 6.75% for the remaining four years of the loan would save $448 — $9.33 a month.

    Refinancing isn’t an option for everyone. If the vehicle is worth less than the loan balance (upside down), a lender probably won’t take the chance and at the same time lower your interest rate. You can determine the current value of the vehicle through Kelley Blue Book, or KBB.com, Edmunds.com or AutoTrader.com.

    Other requirements may also disqualify you, such as the age of the vehicle and the outstanding balance to be refinanced. Capital One Auto Finance, for example, will not refinance a vehicle more than 7 years old; the amount of the loan can be no less than $7,500 and no more than $40,000.

    It’s important, Schooff says, “that consumers determine if their current auto loan has any penalties for paying off the loan early. This will impact how much they can save from refinancing.”

    Call your lender and request the current payoff amount of your loan. This is the amount of money you need to refinance. It is also the figure you’ll compare against the vehicle’s value to determine if the vehicle is worth more than the amount you need to borrow.

    There is no required amount of time from the date of the original loan until you can refinance. Actually, because of the way most auto loans are structured, the majority of the interest is paid during the first half of the term of the loan. The younger the current loan is, the more money refinancing will usually save.

    Once you know your payoff, you can determine how much refinancing can save each month by using Bankrate’s auto loan calculator to find your new payment, then subtract it from your existing payment.

    Because most refinancing loans are fairly straightforward, decisions are usually made quickly. Schooff says Capital One Auto Finance typically gives the consumer a decision by email within 24 hours of submitting the online application.

    If you find yourself upside down in your car loan and for personal reasons need to lower your payment, you may be able to persuade your current lender to modify your loan, lowering the monthly payments by extending the term of the loan or reducing the interest rate.

    It’s important to act before your payments fall behind. The earlier you open communications with your lender, the better the chance of coming to an arrangement.

    CARSTAR Auto Body Repair Experts offers financing for your vehicle repair when you have an auto accident. #us #auto #parts


    #auto collision repair
    #

    Financing

    It s traumatic enough to be in an accident. Unfortunately, paying for the repairs afterward can be just as stressful. You need your car now, even if you don t have the money now, because life won t wait around for you. That s why CARSTAR offers the CarCareONE credit card. Rest easy and get your car fixed, then pay for it later down the road.

    No Interest If Paid In Full In 6 months* on purchases of $299 or more with your CARSTAR/CarCareONESM card. Interest will be charged to your account from the purchase date if the promotion balance including optional charges, is not paid in full within 6 months or if you make a late payment. Minimum Monthly Payments Required. Click here to download a financing application form.

    *Valid on minimum purchase of $299 on CARSTAR/CarCareONESM card account. On promo purchase balance, monthly payments required, but no Finance Charges will be assessed if (1) promo purchase balance paid in full in 6 months and (2) all minimum monthly payments on account paid when due. Otherwise, promo may be terminated and treated as a non-promo balance. Finance Charges accrued at the Purchase APR will be assessed from purchase date. Regular rates apply to non-promo balances, including optional charges. Promo purchases on existing accounts may not receive full benefit of promo terms, including reduced APR if applicable, if account is subject to Penalty APR. Payments over the minimum will be applied as required by applicable law. As of 9/20/2012, APR 28.99% on all accounts in default, Penalty APR: 29.99% . Minimum Finance Charge $2.00. Subject to approval by GE Money Bank.

    Buying a New Car When You Have Bad Credit #auto #paint #supplies


    #auto refinance with bad credit
    #

    Buying a New Car When You Have Bad Credit

    1 of 4

    Let’s say you’ve made a few late payments on your bills. Perhaps you have a maxed-out credit card. Or maybe you bought more car than you actually needed and couldn’t keep up with the payments. Hey, it happens. But now it’s time to buy another car and you have serious doubts as to whether you’ll get approved for a loan.

    A few years ago, we tested the theory of buying a debt-free car as an alternative to buying at a used-car lot or a “buy here, pay here ” dealership. We concluded that for some, the maintenance and repairs may prove too much for people to handle.

    Buying a new car outright won’t reestablish your credit. You’ll need to take out a loan for that. But what options do you have? The “buy here, pay here” dealerships might be one alternative, but not all of them report your payment progress to the credit bureaus. Plus, you’re still buying a used car that may require repairs. Is a new car out of the question? Not necessarily.

    It is possible to buy a new car with bad credit if you know where to look and how to prepare. Here’s how this kind of car buying works and what to keep in mind throughout the process.

    Why Would a Dealership Finance Your Car?

    How can you buy a brand-new car when you have a spotty credit history? There are a number of reasons why a lender would let someone with a troubled credit history finance a new car.

    From the lender’s perspective, a new car has more value and therefore offers more collateral that can be reclaimed if the buyer fails to make payments. The lender also has the assurance that a new-car buyer will actually keep up with payments. His money won’t be diverted to the costly repairs that sometimes befall older cars.

    From the dealership perspective, a new car is an investment in a relationship that will pay off in other ways later on.

    “Half the time, we’re not making any money on the deals,” says Rinaldi Halim, general manager for Nissan of Duarte. a dealership in Southern California that says it’s proud of the fact it takes on clients in all credit tiers. “We want to have a relationship with that customer,” Halim says.

    One new-car sale won’t yield much (if any) profit, Halim says. But it will pay dividends when customers refer their family and friends, resulting in more car sales, including some that will be profitable for the dealership. The sales also pay off when people get their vehicles serviced in the maintenance department. Years later, the initial customers will likely trade in those “no-profit” cars for new ones. The dealership will sell the initial cars as used ones. And if they’ve been well maintained, they will turn a tidy profit for the dealership.

    Start Prepping Early

    If you’re someone who has bad credit but wants to buy new, it is best to start planning for it well in advance, as you would with any major purchase.

    You need to start with your credit report to see how it would look to a lender. Run it at least three months before you plan on buying so you can take action on any outstanding items, recommends Rod Griffin, director of public education for credit reporting company Experian.

    Annual Credit Report.com gives you one free report a year on each of the major credit reporting companies: Experian. Equifax and TransUnion. Take advantage of it.

    Getting your actual credit score typically costs money, but your score will give you an idea of the credit tier into which you fall. Experian defines subprime (which includes deep subprime, as low as you can go) as a 619 score or below on its Vantage scale.

    Once you get the free credit report, pay close attention to the section that points out potentially negative items, also called risk factors. Risk factors could be anything from an old debt that went to collection to a fine you had to pay in a civil court case.

    Rather than viewing them as black marks on your credit, “These risk factors can empower you as a consumer to help rehabilitate your credit,” Griffin says. The risk factors are present in all reports, so if you fix an issue you found on one credit report, the action will be reflected on all the other reports.

    Experian says it offers an added benefit with its credit report and score. For $40, you get your credit score from Experian and a 35-minute session with a credit educator. This person will go over your report and point out items that need attention and give you tips on how to address it.

    Get Pre-Approved and Choose a Dealer

    Because your credit is bad, you will be paying a high interest rate, perhaps as high as 18 percent in California, for example. But some rates still could be better than others. This is why it’s important to seek approval from more than one lender.

    To find out which car dealers may be willing to finance people with iffy credit, pay attention to radio commercials or billboards from dealerships that say things such as “Your job is your credit!” or “Bad credit? No Problem!” These are good places to start. Steer clear of the “buy here, pay here” lots, however, since they don’t sell new cars.

    Many dealership Web sites have credit applications you can fill out online to get pre-approved. If you don’t see the application on the front page, it may be under the “Finance” tab.

    Also, check with your own bank or credit union. They may be more willing to approve you since you already have an established financial relationship with them. You might also try Road Loans from Santander Consumer USA, which specializes in subprime loans.

    Don’t worry that filling out too many loan applications will harm your credit. “Lenders know you are searching for the best rate,” Griffin says. As long as you apply for loans in a 14-day period, they will only count as one “hard” inquiry on your credit report.

    Bring Documents To Show You’re a Good Credit Risk

    When you go into the dealership to talk about financing, you need to bring along some important paperwork. These items will allow a dealership to establish who you are and confirm that you have a job, that you have a history of making monthly payments on time and have friends or family the dealership can contact to find you if you stop making payments. Bring these items with you:

    • The most recent pay stub from your job
    • Your utility bill (gas, water, electricity)
    • Your driver license
    • Three personal references

    Stay in Your Price Range and Look at the Total Costs

    Most people know what they can afford for a monthly car payment. But that sometimes ignores the bigger picture. Just because you qualified to buy a $22,000 midsize sedan doesn’t mean you should buy it. For example, if you scale back and purchase a $17,000 compact sedan, you’ll free up $100 per month. This is money you could use for gas, insurance or to pay other bills.

    “We love our leather seats and sunroofs,” says Griffin, “but when your credit isn’t stellar, it is better to look at a lower-end automobile.”

    A Typical Deal and a Bad One

    Halim gives an example of a deal made for someone with bad credit: a $16,000 Nissan Versa. minus a $1,000 bonus cash incentive, financed for 72 months with $1,000 down. The interest rate would be around 17.9 percent, which would bring the monthly payment to about $354. At the end of the six years, you would have paid $25,485 for that Versa.

    These numbers will vary based on how much you’re putting down, what you’re financing and what you’ve been approved for, but it gives you a rough idea on what this type of deal looks like. A sizable percentage of the loan will be the interest ($9,927 in this example), but this is the reality when you’re borrowing in this credit tier.

    Just remember that it could be worse if you were dealing with a “buy here, pay here” car purchase. While talking to Halim, for example, we heard about a customer who had purchased a car from a “buy here, pay here” dealership and no longer wanted the car. The loan was for $4,200, to be paid over 36 months. The person already had made 22 payments of $322 and still owed $3,800 on the principal, thanks to an exorbitant interest rate. It approached the California legal maximum of 29.9 percent.

    Resist the Urge To Trade Up

    A number of new-car dealerships offer their credit-challenged customers the chance to trade into another vehicle without a significant increase in their monthly payment, provided they’ve made a year’s worth of consecutive on-time payments. While it may be tempting to get out of a Nissan Sentra and into a Nissan Altima. for example, you will be adding more debt to your next loan.

    If you want to move up to a larger or nicer car, a smarter strategy is to refinance the current loan for a lower interest rate and monthly payment, then stick out the loan until the initial car is paid off. When it’s time to purchase your next car, you should be in a higher credit tier (assuming you’ve also done well on your other bills), and will qualify for a nicer car.

    The New You

    If you’ve done your credit homework, shopped within your price range and made all your payments, you’ve not only improved your credit score but also set up positive finance habits that will serve you well for years to come.

    When an Attorney Can Help in a Car Accident Case. #usa #auto


    #auto accident lawyer
    #

    When an Attorney Can Help in a Car Accident Case

    Need a lawyer? Choose an area of practice:

    An automobile accident brings with it a host of questions. Who is at fault? Who pays for damage to my car? Am I entitled to a rental car? Who will pay for my medical bills? Can I ask the insurance company to reimburse me for lost wages? An experienced injury attorney can be extremely helpful in negotiating the often chaotic and confusing world of insurance claims and settlements.

    Because most injury attorneys work on a contingent-fee basis. and only get paid if there is a successful resolution to your claim, there is often little incentive to try to handle these types of claims on your own.

    Knowledge of Law and Procedural Rules

    Hiring a personal injury attorney to represent you after a car accident means you will have a professional working for you — one who is extremely knowledgeable about the relevant laws and procedural rules that may affect your case.

    An attorney can advise you of any time limits (called statutes of limitations ) that can bar you from filing a lawsuit against the at-fault driver. For instance, in many states you must file your lawsuit within two years of your car accident or be forever prohibited from filing your lawsuit. An attorney will also be able to inform you about any special exceptions to the statute of limitations — for minors, for example.

    Your attorney can file a lawsuit on your behalf and will know how best to handle any possible defenses raised by the other side. In addition, once your case gets under way, an attorney will be an invaluable guide in navigating the often confusing world of trial preparation — and even going to trial if your case doesn’t settle .

    Finally, and perhaps most importantly, having an attorney who is knowledgeable about the law evens the playing field, especially when you are going up against the experience and vast resources of a large insurance company.

    Lawyers Do The Legwork

    There is a lot of work that goes into negotiating an insurance settlement and trying a personal injury lawsuit. After you have been in a car accident, taking on this time-consuming work may be the last thing you want to do, assuming you’re able. An attorney can do it all for you.

    Whereas this may be your first time dealing with the ins and outs of an accident claim, injury attorneys have dealt with all manner of claims and a variety of insurance companies. They have experience obtaining the necessary evidence to support your claim, including gathering police reports, witness statements, medical records and bills, and employment and lost wage information.

    Your attorney will also be able to organize the evidence and prepare a settlement demand letter for the insurance company. If you are unable to settle your accident case, your attorney can take care of filing the necessary paperwork to start a court case and can deal with the defense attorneys on your behalf. Having someone knowledgeable handling the hard work of your case eases the burden on you, which is especially important if you have been seriously injured and are trying to recover from your injuries.

    An Attorney Advocates for You

    Perhaps the most important way an attorney can help you with your car accident case is by being your advocate. This means that your attorney acts on your behalf and for your benefit throughout the entire claims process (negotiating with the automobile insurance company) and even in court if a lawsuit becomes necessary. He or she will be your champion before the judge, jury and other attorneys, making sure that your side of the story is heard and that you are compensated for all of your losses .

    Having an experienced and articulate advocate working for you is essential in obtaining a reasonable and fair resolution in your car accident case.

    When To Hire A Personal Injury Attorney – Auto Insurance Claims at: The DMV Made Simple #used #auto #sales


    #auto accident attorney
    #

    When To Hire A Personal Injury Attorney

    When you’ve been in a car accident, you have a lot on your mind. Aside from any emotional turmoil and stress, you have to deal with your injuries, damage to your vehicle, handling your claim, and any other issues.

    Lawyers can help you deal with the process of your claim and reduce your stress in the process. The following information will help you determine whether hiring an attorney is the right choice for you.

    Property Damage

    One of the biggest losses after an accident is the loss of property. Your vehicle may be heavily damaged and, in some cases, be considered a total loss.

    It’s typically the car insurance company’s prerogative to either:

    • Deem your car a total loss.

    First, you’ll need to determine whether your coverage will pay or whether the other company will pay. For instance:

    • If you are at fault. you’ll seek reimbursement through your own policy.
    • If you are not at fault. you’ll generally seek payment through the other insurer.
    • In some cases (e.g. if you live in a no-fault state. or you were in a hit and run ), you may seek compensation from your own car insurance company.

    Regardless of the company from which you’re seeking payment, you might find their initial claim offer is insufficient to fully cover your repair or replacement costs.

    If you don’t have the energy or knowledge to pursue a more substantial claim, you need the services of an attorney to ensure you get what you deserve.

    Personal Injury

    If you are injured as a result of an accident, you need to get the proper medical care right away. If you delay, it can be harder to prove your injuries resulted from the car accident.

    Your payment for care will depend on the coverages in your policy. If you are not at fault, your bills will be paid for by the other driver’s liability coverage. If you live in a no-fault state, however, you can seek payment from your personal injury protection (PIP) coverage to get your bills without the delay of negotiation between companies.

    You can also seek payment from:

    • Medical payments coverage. if it’s included in your policy.
    • Uninsured motorist coverage. if you have it and you were hit by an uninsured or underinsured driver (or were in a hit and run accident).
    • Your health insurance policy.

    When You Need a Personal Injury Attorney

    As you seek reimbursement, remember that it’s extremely common to get pushback on these expenses. Insruance companies try to avoid paying more than they need to and will check to make sure all the expenses are valid. Keep all of your documentation and receipts. If you continue to have trouble getting your medical bills paid, seek the counsel of a personal injury attorney .

    Attorneys have experience working with insurance providers to get the highest possible settlement amounts for clients.

    They also have experience getting compensation for general damages that are difficult to determine, such as:

    • Pain and suffering.
    • Mental anguish.

    For example, if you’ve lost your vision due to an accident resulting from another driver’s negligence, a personal injury lawyer can help you get general damages in addition to the actual costs of your medical bills.

    Statute of Limitations

    If you have been injured or you have lost any type of personal or business property due to an accident, don’t wait to get the help you need and deserve.

    You have only a short amount of time under local, state, and federal law to file your claim and protect your rights. This time limit is called the statute of limitations , and varies by state.

    If you feel you need an attorney to navigate your claim, contact one without delay.

    Having the help of an experienced attorney can leave you free to concentrate on healing and moving on with your life.

    Was this information helpful?

    Top 5 Biggest Mistakes to Avoid When Buying a Car #auto #trade


    #buying a car
    #

    Top 5 Biggest Mistakes to Avoid When Buying a Car

    Continue Reading Below

    5 Car Buying Mistakes to Avoid

    When you re in the market for a new vehicle, the best thing you can do for yourself is be prepared. So here are the 5 biggest mistakes to avoid when purchasing your next vehicle:

    1. Thinking in terms of monthly payment. Not very many people walk into a car dealership and plan on writing a check or paying cash for their vehicle, and the salespeople know this. In fact, many of them rely on this fact in their sales pitch. This also explains why the negotiation almost always revolves around how much you can afford to pay for the car each month. But focusing on a monthly budget is by far the easiest way to spend too much on your next vehicle. When negotiating a price, the dealer can do a number of things to make almost any vehicle fit your budget. They can do this by adjusting interest on the interest rate. offer you a longer term on the loan, or restructure the financing in a way that creates a payment that fits into your budget. It may not seem like a big deal, but even a few extra percentage points or an additional year on the loan can add thousands of dollars to the total cost of the vehicle. When the average car payment in the U.S. has been between $471 and $482 per month for the last few years, it s worth looking at what that money is actually getting you.
    1. Buying new versus used. A vehicle is not an investment – at least not a good one. Vehicles depreciate in value quickly, so when you buy a new vehicle, you can expect it to continuously decrease in value from the moment you take ownership. In fact, a new car typically decreases in value by 25%-40% in the first two years. The best thing you can do is to let someone else take the initial 40% hit by buying a slightly used vehicle that is a year or two old.

    Years ago, there was a good reason to buy new and that was for the warranty. Today, most vehicles have longer warranties that can still be in effect even if you buy a car that is a few years old. Additionally, you can often opt to purchase an extended warranty, which is typically far cheaper than the value the car lost in the first year or two.

    Continue Reading Below

    1. Choosing the wrong vehicle. Are you a single person who needs a vehicle just to get you to and from work every day? Then you probably don’t need that $45,000 SUV that seats eight and can tow 5,000 pounds. You want a vehicle that meets your specific needs. Sure, there are a lot of cars and trucks out there that will turn heads, but keep in mind that many of these will come at a premium.
  • Not taking into consideration other costs. The actual cost of the vehicle is important, but what is often overlooked are all of the hidden long-term maintenance and insurance costs that go along with a vehicle. Keep in mind that car insurance premiums typically increase with the value of a vehicle, so buying a more expensive vehicle will increase your annual insurance costs. This can amount to hundreds, if not a thousand dollars or more per year.

    In addition to insurance, you have to take into account all of the maintenance costs. Vehicles need oil changes, new brakes, air filters, tires, and much more. Luxury or performance models are generally going to require higher end replacement parts that can cost much more than their standard counterpart.

    Finally, you need to consider gas consumption. The average person will drive between 10,000 and 15,000 miles per year. A vehicle that gets an average of 30 miles per gallon with today’s gas prices. you can expect to spend between $1,000 and $1,500 per year on gas alone. Now, consider a vehicle that only gets about 15 miles per gallon. Now you’re spending $2,000 and $3,000 each year.

    When you think about it, by the time you factor in gas, oil changes. insurance and regular maintenance, you can expect to spend $3,000 to $5,000 in addition to your monthly car payment each year!

  • Putting $0 down. There are a lot of incentives when it comes to buying a car, and you can often put yourself in a brand new vehicle of your choice with no money down. Sounds great, right? Not so fast. Remember, vehicles depreciate rapidly, so if you finance the full purchase price, you often find yourself upside down on the loan immediately.

    Being upside down simply means that you owe more than the car is worth. Remember, there are taxes and other fees that go into a new car purchase, and they are typically rolled into the loan if you don’t put anything down. That means as soon as you drive it off the lot, you owe more money to the bank or dealership than the vehicle is actually worth.

    This is a very bad idea if you intend on selling or trading the car in before the loan is paid off. If after three years you need to get a new vehicle and you owe $10,000 while the car is only worth $8,000, you will have to either pay $2,000 out of your pocket, or finance that into your new loan. It may feel good to walk out of the dealership with a brand new car without having to fork over a dime up front, but it will cost you.

    Want more tips for saving money? Sign up for the Money newsletter  and get insights from our personal finance experts, delivered straight to your inbox.

  • Buying a New Car When You Have Bad Credit #manheim #auto


    #auto refinance with bad credit
    #

    Buying a New Car When You Have Bad Credit

    1 of 4

    Let’s say you’ve made a few late payments on your bills. Perhaps you have a maxed-out credit card. Or maybe you bought more car than you actually needed and couldn’t keep up with the payments. Hey, it happens. But now it’s time to buy another car and you have serious doubts as to whether you’ll get approved for a loan.

    A few years ago, we tested the theory of buying a debt-free car as an alternative to buying at a used-car lot or a “buy here, pay here ” dealership. We concluded that for some, the maintenance and repairs may prove too much for people to handle.

    Buying a new car outright won’t reestablish your credit. You’ll need to take out a loan for that. But what options do you have? The “buy here, pay here” dealerships might be one alternative, but not all of them report your payment progress to the credit bureaus. Plus, you’re still buying a used car that may require repairs. Is a new car out of the question? Not necessarily.

    It is possible to buy a new car with bad credit if you know where to look and how to prepare. Here’s how this kind of car buying works and what to keep in mind throughout the process.

    Why Would a Dealership Finance Your Car?

    How can you buy a brand-new car when you have a spotty credit history? There are a number of reasons why a lender would let someone with a troubled credit history finance a new car.

    From the lender’s perspective, a new car has more value and therefore offers more collateral that can be reclaimed if the buyer fails to make payments. The lender also has the assurance that a new-car buyer will actually keep up with payments. His money won’t be diverted to the costly repairs that sometimes befall older cars.

    From the dealership perspective, a new car is an investment in a relationship that will pay off in other ways later on.

    “Half the time, we’re not making any money on the deals,” says Rinaldi Halim, general manager for Nissan of Duarte. a dealership in Southern California that says it’s proud of the fact it takes on clients in all credit tiers. “We want to have a relationship with that customer,” Halim says.

    One new-car sale won’t yield much (if any) profit, Halim says. But it will pay dividends when customers refer their family and friends, resulting in more car sales, including some that will be profitable for the dealership. The sales also pay off when people get their vehicles serviced in the maintenance department. Years later, the initial customers will likely trade in those “no-profit” cars for new ones. The dealership will sell the initial cars as used ones. And if they’ve been well maintained, they will turn a tidy profit for the dealership.

    Start Prepping Early

    If you’re someone who has bad credit but wants to buy new, it is best to start planning for it well in advance, as you would with any major purchase.

    You need to start with your credit report to see how it would look to a lender. Run it at least three months before you plan on buying so you can take action on any outstanding items, recommends Rod Griffin, director of public education for credit reporting company Experian.

    Annual Credit Report.com gives you one free report a year on each of the major credit reporting companies: Experian. Equifax and TransUnion. Take advantage of it.

    Getting your actual credit score typically costs money, but your score will give you an idea of the credit tier into which you fall. Experian defines subprime (which includes deep subprime, as low as you can go) as a 619 score or below on its Vantage scale.

    Once you get the free credit report, pay close attention to the section that points out potentially negative items, also called risk factors. Risk factors could be anything from an old debt that went to collection to a fine you had to pay in a civil court case.

    Rather than viewing them as black marks on your credit, “These risk factors can empower you as a consumer to help rehabilitate your credit,” Griffin says. The risk factors are present in all reports, so if you fix an issue you found on one credit report, the action will be reflected on all the other reports.

    Experian says it offers an added benefit with its credit report and score. For $40, you get your credit score from Experian and a 35-minute session with a credit educator. This person will go over your report and point out items that need attention and give you tips on how to address it.

    Get Pre-Approved and Choose a Dealer

    Because your credit is bad, you will be paying a high interest rate, perhaps as high as 18 percent in California, for example. But some rates still could be better than others. This is why it’s important to seek approval from more than one lender.

    To find out which car dealers may be willing to finance people with iffy credit, pay attention to radio commercials or billboards from dealerships that say things such as “Your job is your credit!” or “Bad credit? No Problem!” These are good places to start. Steer clear of the “buy here, pay here” lots, however, since they don’t sell new cars.

    Many dealership Web sites have credit applications you can fill out online to get pre-approved. If you don’t see the application on the front page, it may be under the “Finance” tab.

    Also, check with your own bank or credit union. They may be more willing to approve you since you already have an established financial relationship with them. You might also try Road Loans from Santander Consumer USA, which specializes in subprime loans.

    Don’t worry that filling out too many loan applications will harm your credit. “Lenders know you are searching for the best rate,” Griffin says. As long as you apply for loans in a 14-day period, they will only count as one “hard” inquiry on your credit report.

    Bring Documents To Show You’re a Good Credit Risk

    When you go into the dealership to talk about financing, you need to bring along some important paperwork. These items will allow a dealership to establish who you are and confirm that you have a job, that you have a history of making monthly payments on time and have friends or family the dealership can contact to find you if you stop making payments. Bring these items with you:

    • The most recent pay stub from your job
    • Your utility bill (gas, water, electricity)
    • Your driver license
    • Three personal references

    Stay in Your Price Range and Look at the Total Costs

    Most people know what they can afford for a monthly car payment. But that sometimes ignores the bigger picture. Just because you qualified to buy a $22,000 midsize sedan doesn’t mean you should buy it. For example, if you scale back and purchase a $17,000 compact sedan, you’ll free up $100 per month. This is money you could use for gas, insurance or to pay other bills.

    “We love our leather seats and sunroofs,” says Griffin, “but when your credit isn’t stellar, it is better to look at a lower-end automobile.”

    A Typical Deal and a Bad One

    Halim gives an example of a deal made for someone with bad credit: a $16,000 Nissan Versa. minus a $1,000 bonus cash incentive, financed for 72 months with $1,000 down. The interest rate would be around 17.9 percent, which would bring the monthly payment to about $354. At the end of the six years, you would have paid $25,485 for that Versa.

    These numbers will vary based on how much you’re putting down, what you’re financing and what you’ve been approved for, but it gives you a rough idea on what this type of deal looks like. A sizable percentage of the loan will be the interest ($9,927 in this example), but this is the reality when you’re borrowing in this credit tier.

    Just remember that it could be worse if you were dealing with a “buy here, pay here” car purchase. While talking to Halim, for example, we heard about a customer who had purchased a car from a “buy here, pay here” dealership and no longer wanted the car. The loan was for $4,200, to be paid over 36 months. The person already had made 22 payments of $322 and still owed $3,800 on the principal, thanks to an exorbitant interest rate. It approached the California legal maximum of 29.9 percent.

    Resist the Urge To Trade Up

    A number of new-car dealerships offer their credit-challenged customers the chance to trade into another vehicle without a significant increase in their monthly payment, provided they’ve made a year’s worth of consecutive on-time payments. While it may be tempting to get out of a Nissan Sentra and into a Nissan Altima. for example, you will be adding more debt to your next loan.

    If you want to move up to a larger or nicer car, a smarter strategy is to refinance the current loan for a lower interest rate and monthly payment, then stick out the loan until the initial car is paid off. When it’s time to purchase your next car, you should be in a higher credit tier (assuming you’ve also done well on your other bills), and will qualify for a nicer car.

    The New You

    If you’ve done your credit homework, shopped within your price range and made all your payments, you’ve not only improved your credit score but also set up positive finance habits that will serve you well for years to come.

    Top 5 Biggest Mistakes to Avoid When Buying a Car #byers #auto


    #buying a car
    #

    Top 5 Biggest Mistakes to Avoid When Buying a Car

    Continue Reading Below

    5 Car Buying Mistakes to Avoid

    When you re in the market for a new vehicle, the best thing you can do for yourself is be prepared. So here are the 5 biggest mistakes to avoid when purchasing your next vehicle:

    1. Thinking in terms of monthly payment. Not very many people walk into a car dealership and plan on writing a check or paying cash for their vehicle, and the salespeople know this. In fact, many of them rely on this fact in their sales pitch. This also explains why the negotiation almost always revolves around how much you can afford to pay for the car each month. But focusing on a monthly budget is by far the easiest way to spend too much on your next vehicle. When negotiating a price, the dealer can do a number of things to make almost any vehicle fit your budget. They can do this by adjusting interest on the interest rate. offer you a longer term on the loan, or restructure the financing in a way that creates a payment that fits into your budget. It may not seem like a big deal, but even a few extra percentage points or an additional year on the loan can add thousands of dollars to the total cost of the vehicle. When the average car payment in the U.S. has been between $471 and $482 per month for the last few years, it s worth looking at what that money is actually getting you.
    1. Buying new versus used. A vehicle is not an investment – at least not a good one. Vehicles depreciate in value quickly, so when you buy a new vehicle, you can expect it to continuously decrease in value from the moment you take ownership. In fact, a new car typically decreases in value by 25%-40% in the first two years. The best thing you can do is to let someone else take the initial 40% hit by buying a slightly used vehicle that is a year or two old.

    Years ago, there was a good reason to buy new and that was for the warranty. Today, most vehicles have longer warranties that can still be in effect even if you buy a car that is a few years old. Additionally, you can often opt to purchase an extended warranty, which is typically far cheaper than the value the car lost in the first year or two.

    Continue Reading Below

    1. Choosing the wrong vehicle. Are you a single person who needs a vehicle just to get you to and from work every day? Then you probably don’t need that $45,000 SUV that seats eight and can tow 5,000 pounds. You want a vehicle that meets your specific needs. Sure, there are a lot of cars and trucks out there that will turn heads, but keep in mind that many of these will come at a premium.
  • Not taking into consideration other costs. The actual cost of the vehicle is important, but what is often overlooked are all of the hidden long-term maintenance and insurance costs that go along with a vehicle. Keep in mind that car insurance premiums typically increase with the value of a vehicle, so buying a more expensive vehicle will increase your annual insurance costs. This can amount to hundreds, if not a thousand dollars or more per year.

    In addition to insurance, you have to take into account all of the maintenance costs. Vehicles need oil changes, new brakes, air filters, tires, and much more. Luxury or performance models are generally going to require higher end replacement parts that can cost much more than their standard counterpart.

    Finally, you need to consider gas consumption. The average person will drive between 10,000 and 15,000 miles per year. A vehicle that gets an average of 30 miles per gallon with today’s gas prices. you can expect to spend between $1,000 and $1,500 per year on gas alone. Now, consider a vehicle that only gets about 15 miles per gallon. Now you’re spending $2,000 and $3,000 each year.

    When you think about it, by the time you factor in gas, oil changes. insurance and regular maintenance, you can expect to spend $3,000 to $5,000 in addition to your monthly car payment each year!

  • Putting $0 down. There are a lot of incentives when it comes to buying a car, and you can often put yourself in a brand new vehicle of your choice with no money down. Sounds great, right? Not so fast. Remember, vehicles depreciate rapidly, so if you finance the full purchase price, you often find yourself upside down on the loan immediately.

    Being upside down simply means that you owe more than the car is worth. Remember, there are taxes and other fees that go into a new car purchase, and they are typically rolled into the loan if you don’t put anything down. That means as soon as you drive it off the lot, you owe more money to the bank or dealership than the vehicle is actually worth.

    This is a very bad idea if you intend on selling or trading the car in before the loan is paid off. If after three years you need to get a new vehicle and you owe $10,000 while the car is only worth $8,000, you will have to either pay $2,000 out of your pocket, or finance that into your new loan. It may feel good to walk out of the dealership with a brand new car without having to fork over a dime up front, but it will cost you.

    Want more tips for saving money? Sign up for the Money newsletter  and get insights from our personal finance experts, delivered straight to your inbox.

  • When To Hire A Personal Injury Attorney – Auto Insurance Claims at: The DMV Made Simple #buying #used #car


    #auto accident attorney
    #

    When To Hire A Personal Injury Attorney

    When you’ve been in a car accident, you have a lot on your mind. Aside from any emotional turmoil and stress, you have to deal with your injuries, damage to your vehicle, handling your claim, and any other issues.

    Lawyers can help you deal with the process of your claim and reduce your stress in the process. The following information will help you determine whether hiring an attorney is the right choice for you.

    Property Damage

    One of the biggest losses after an accident is the loss of property. Your vehicle may be heavily damaged and, in some cases, be considered a total loss.

    It’s typically the car insurance company’s prerogative to either:

    • Deem your car a total loss.

    First, you’ll need to determine whether your coverage will pay or whether the other company will pay. For instance:

    • If you are at fault. you’ll seek reimbursement through your own policy.
    • If you are not at fault. you’ll generally seek payment through the other insurer.
    • In some cases (e.g. if you live in a no-fault state. or you were in a hit and run ), you may seek compensation from your own car insurance company.

    Regardless of the company from which you’re seeking payment, you might find their initial claim offer is insufficient to fully cover your repair or replacement costs.

    If you don’t have the energy or knowledge to pursue a more substantial claim, you need the services of an attorney to ensure you get what you deserve.

    Personal Injury

    If you are injured as a result of an accident, you need to get the proper medical care right away. If you delay, it can be harder to prove your injuries resulted from the car accident.

    Your payment for care will depend on the coverages in your policy. If you are not at fault, your bills will be paid for by the other driver’s liability coverage. If you live in a no-fault state, however, you can seek payment from your personal injury protection (PIP) coverage to get your bills without the delay of negotiation between companies.

    You can also seek payment from:

    • Medical payments coverage. if it’s included in your policy.
    • Uninsured motorist coverage. if you have it and you were hit by an uninsured or underinsured driver (or were in a hit and run accident).
    • Your health insurance policy.

    When You Need a Personal Injury Attorney

    As you seek reimbursement, remember that it’s extremely common to get pushback on these expenses. Insruance companies try to avoid paying more than they need to and will check to make sure all the expenses are valid. Keep all of your documentation and receipts. If you continue to have trouble getting your medical bills paid, seek the counsel of a personal injury attorney .

    Attorneys have experience working with insurance providers to get the highest possible settlement amounts for clients.

    They also have experience getting compensation for general damages that are difficult to determine, such as:

    • Pain and suffering.
    • Mental anguish.

    For example, if you’ve lost your vision due to an accident resulting from another driver’s negligence, a personal injury lawyer can help you get general damages in addition to the actual costs of your medical bills.

    Statute of Limitations

    If you have been injured or you have lost any type of personal or business property due to an accident, don’t wait to get the help you need and deserve.

    You have only a short amount of time under local, state, and federal law to file your claim and protect your rights. This time limit is called the statute of limitations , and varies by state.

    If you feel you need an attorney to navigate your claim, contact one without delay.

    Having the help of an experienced attorney can leave you free to concentrate on healing and moving on with your life.

    Was this information helpful?

    When an Attorney Can Help in a Car Accident Case. #auto #lifts


    #auto accident lawyer
    #

    When an Attorney Can Help in a Car Accident Case

    Need a lawyer? Choose an area of practice:

    An automobile accident brings with it a host of questions. Who is at fault? Who pays for damage to my car? Am I entitled to a rental car? Who will pay for my medical bills? Can I ask the insurance company to reimburse me for lost wages? An experienced injury attorney can be extremely helpful in negotiating the often chaotic and confusing world of insurance claims and settlements.

    Because most injury attorneys work on a contingent-fee basis. and only get paid if there is a successful resolution to your claim, there is often little incentive to try to handle these types of claims on your own.

    Knowledge of Law and Procedural Rules

    Hiring a personal injury attorney to represent you after a car accident means you will have a professional working for you — one who is extremely knowledgeable about the relevant laws and procedural rules that may affect your case.

    An attorney can advise you of any time limits (called statutes of limitations ) that can bar you from filing a lawsuit against the at-fault driver. For instance, in many states you must file your lawsuit within two years of your car accident or be forever prohibited from filing your lawsuit. An attorney will also be able to inform you about any special exceptions to the statute of limitations — for minors, for example.

    Your attorney can file a lawsuit on your behalf and will know how best to handle any possible defenses raised by the other side. In addition, once your case gets under way, an attorney will be an invaluable guide in navigating the often confusing world of trial preparation — and even going to trial if your case doesn’t settle .

    Finally, and perhaps most importantly, having an attorney who is knowledgeable about the law evens the playing field, especially when you are going up against the experience and vast resources of a large insurance company.

    Lawyers Do The Legwork

    There is a lot of work that goes into negotiating an insurance settlement and trying a personal injury lawsuit. After you have been in a car accident, taking on this time-consuming work may be the last thing you want to do, assuming you’re able. An attorney can do it all for you.

    Whereas this may be your first time dealing with the ins and outs of an accident claim, injury attorneys have dealt with all manner of claims and a variety of insurance companies. They have experience obtaining the necessary evidence to support your claim, including gathering police reports, witness statements, medical records and bills, and employment and lost wage information.

    Your attorney will also be able to organize the evidence and prepare a settlement demand letter for the insurance company. If you are unable to settle your accident case, your attorney can take care of filing the necessary paperwork to start a court case and can deal with the defense attorneys on your behalf. Having someone knowledgeable handling the hard work of your case eases the burden on you, which is especially important if you have been seriously injured and are trying to recover from your injuries.

    An Attorney Advocates for You

    Perhaps the most important way an attorney can help you with your car accident case is by being your advocate. This means that your attorney acts on your behalf and for your benefit throughout the entire claims process (negotiating with the automobile insurance company) and even in court if a lawsuit becomes necessary. He or she will be your champion before the judge, jury and other attorneys, making sure that your side of the story is heard and that you are compensated for all of your losses .

    Having an experienced and articulate advocate working for you is essential in obtaining a reasonable and fair resolution in your car accident case.

    WA State Licensing (DOL) Official Site: Transfer ownership of a vehicle when buying from a private party #auction #cars


    #auto bill of sale
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    2. Gather the information you ll need

    Find out how much it will cost by contacting a vehicle licensing office location .

    3. Complete all necessary forms

    • Vehicle/Vessel Bill of Sale Completed by you and the seller.
      • Enter sale price This is used to calculate the use tax .
      • Enter zero if it s a gift or inheritance.
    • Vehicle Certificate of Ownership (Title) Application Sign it in front of a:
      • notary public, or
      • licensing agent at an office .

    4. Submit your forms and payment

    Submit the following to an office :

    • Vehicle/Vessel Bill of Sale,
    • Vehicle Certificate of Ownership (Title) Application,
    • The current vehicle title, and
    • Payment contact an office for the exact amount.

    If needed, also submit:

    • Emissions testing report,
    • Affidavit of Loss/Release of Interest, or
    • Odometer Disclosure Statement.

    Getting your title

    How quickly do you want your title?

    • You can visit or mail your forms and payment to an office .
    • It will take 8 10 weeks to get your title.

    If you need it faster than 8 10 weeks:

    • You can visit or mail your forms and fees to a Quick Title office * .
    • It ll cost $50 plus the title fees.

    * Note: Quick titles aren t available for snowmobiles, vehicles or boats reported as stolen, insurance or wrecker-destroyed vehicles and boats, or vehicles with WA Rebuilt on the title.

    5. Get new license plates

    Since the vehicle has changed ownership, you ll need to get new plates.

    There are exceptions Plates don t need to be replaced if:

    • You re removing a deceased spouse or domestic partner from the title.
    • You got your vehicle from:
      • your spouse or domestic partner,
      • a family member as a gift or inheritance, or
      • a trust in which the registered owner or their immediate family members are the beneficiaries of the trust.

    6. Add the vehicle to your License eXpress account

    • See when your vehicle s tabs are due.
    • Make sure your address is up-to-date.
    • Sign-up or update email renewal notices and more.

    CARSTAR Auto Body Repair Experts offers financing for your vehicle repair when you have an auto accident. #do #it #yourself #auto #repair


    #auto collision repair
    #

    Financing

    It s traumatic enough to be in an accident. Unfortunately, paying for the repairs afterward can be just as stressful. You need your car now, even if you don t have the money now, because life won t wait around for you. That s why CARSTAR offers the CarCareONE credit card. Rest easy and get your car fixed, then pay for it later down the road.

    No Interest If Paid In Full In 6 months* on purchases of $299 or more with your CARSTAR/CarCareONESM card. Interest will be charged to your account from the purchase date if the promotion balance including optional charges, is not paid in full within 6 months or if you make a late payment. Minimum Monthly Payments Required. Click here to download a financing application form.

    *Valid on minimum purchase of $299 on CARSTAR/CarCareONESM card account. On promo purchase balance, monthly payments required, but no Finance Charges will be assessed if (1) promo purchase balance paid in full in 6 months and (2) all minimum monthly payments on account paid when due. Otherwise, promo may be terminated and treated as a non-promo balance. Finance Charges accrued at the Purchase APR will be assessed from purchase date. Regular rates apply to non-promo balances, including optional charges. Promo purchases on existing accounts may not receive full benefit of promo terms, including reduced APR if applicable, if account is subject to Penalty APR. Payments over the minimum will be applied as required by applicable law. As of 9/20/2012, APR 28.99% on all accounts in default, Penalty APR: 29.99% . Minimum Finance Charge $2.00. Subject to approval by GE Money Bank.

    Buying a New Car When You Have Bad Credit #internet #auto #sales


    #auto refinance with bad credit
    #

    Buying a New Car When You Have Bad Credit

    1 of 4

    Let’s say you’ve made a few late payments on your bills. Perhaps you have a maxed-out credit card. Or maybe you bought more car than you actually needed and couldn’t keep up with the payments. Hey, it happens. But now it’s time to buy another car and you have serious doubts as to whether you’ll get approved for a loan.

    A few years ago, we tested the theory of buying a debt-free car as an alternative to buying at a used-car lot or a “buy here, pay here ” dealership. We concluded that for some, the maintenance and repairs may prove too much for people to handle.

    Buying a new car outright won’t reestablish your credit. You’ll need to take out a loan for that. But what options do you have? The “buy here, pay here” dealerships might be one alternative, but not all of them report your payment progress to the credit bureaus. Plus, you’re still buying a used car that may require repairs. Is a new car out of the question? Not necessarily.

    It is possible to buy a new car with bad credit if you know where to look and how to prepare. Here’s how this kind of car buying works and what to keep in mind throughout the process.

    Why Would a Dealership Finance Your Car?

    How can you buy a brand-new car when you have a spotty credit history? There are a number of reasons why a lender would let someone with a troubled credit history finance a new car.

    From the lender’s perspective, a new car has more value and therefore offers more collateral that can be reclaimed if the buyer fails to make payments. The lender also has the assurance that a new-car buyer will actually keep up with payments. His money won’t be diverted to the costly repairs that sometimes befall older cars.

    From the dealership perspective, a new car is an investment in a relationship that will pay off in other ways later on.

    “Half the time, we’re not making any money on the deals,” says Rinaldi Halim, general manager for Nissan of Duarte. a dealership in Southern California that says it’s proud of the fact it takes on clients in all credit tiers. “We want to have a relationship with that customer,” Halim says.

    One new-car sale won’t yield much (if any) profit, Halim says. But it will pay dividends when customers refer their family and friends, resulting in more car sales, including some that will be profitable for the dealership. The sales also pay off when people get their vehicles serviced in the maintenance department. Years later, the initial customers will likely trade in those “no-profit” cars for new ones. The dealership will sell the initial cars as used ones. And if they’ve been well maintained, they will turn a tidy profit for the dealership.

    Start Prepping Early

    If you’re someone who has bad credit but wants to buy new, it is best to start planning for it well in advance, as you would with any major purchase.

    You need to start with your credit report to see how it would look to a lender. Run it at least three months before you plan on buying so you can take action on any outstanding items, recommends Rod Griffin, director of public education for credit reporting company Experian.

    Annual Credit Report.com gives you one free report a year on each of the major credit reporting companies: Experian. Equifax and TransUnion. Take advantage of it.

    Getting your actual credit score typically costs money, but your score will give you an idea of the credit tier into which you fall. Experian defines subprime (which includes deep subprime, as low as you can go) as a 619 score or below on its Vantage scale.

    Once you get the free credit report, pay close attention to the section that points out potentially negative items, also called risk factors. Risk factors could be anything from an old debt that went to collection to a fine you had to pay in a civil court case.

    Rather than viewing them as black marks on your credit, “These risk factors can empower you as a consumer to help rehabilitate your credit,” Griffin says. The risk factors are present in all reports, so if you fix an issue you found on one credit report, the action will be reflected on all the other reports.

    Experian says it offers an added benefit with its credit report and score. For $40, you get your credit score from Experian and a 35-minute session with a credit educator. This person will go over your report and point out items that need attention and give you tips on how to address it.

    Get Pre-Approved and Choose a Dealer

    Because your credit is bad, you will be paying a high interest rate, perhaps as high as 18 percent in California, for example. But some rates still could be better than others. This is why it’s important to seek approval from more than one lender.

    To find out which car dealers may be willing to finance people with iffy credit, pay attention to radio commercials or billboards from dealerships that say things such as “Your job is your credit!” or “Bad credit? No Problem!” These are good places to start. Steer clear of the “buy here, pay here” lots, however, since they don’t sell new cars.

    Many dealership Web sites have credit applications you can fill out online to get pre-approved. If you don’t see the application on the front page, it may be under the “Finance” tab.

    Also, check with your own bank or credit union. They may be more willing to approve you since you already have an established financial relationship with them. You might also try Road Loans from Santander Consumer USA, which specializes in subprime loans.

    Don’t worry that filling out too many loan applications will harm your credit. “Lenders know you are searching for the best rate,” Griffin says. As long as you apply for loans in a 14-day period, they will only count as one “hard” inquiry on your credit report.

    Bring Documents To Show You’re a Good Credit Risk

    When you go into the dealership to talk about financing, you need to bring along some important paperwork. These items will allow a dealership to establish who you are and confirm that you have a job, that you have a history of making monthly payments on time and have friends or family the dealership can contact to find you if you stop making payments. Bring these items with you:

    • The most recent pay stub from your job
    • Your utility bill (gas, water, electricity)
    • Your driver license
    • Three personal references

    Stay in Your Price Range and Look at the Total Costs

    Most people know what they can afford for a monthly car payment. But that sometimes ignores the bigger picture. Just because you qualified to buy a $22,000 midsize sedan doesn’t mean you should buy it. For example, if you scale back and purchase a $17,000 compact sedan, you’ll free up $100 per month. This is money you could use for gas, insurance or to pay other bills.

    “We love our leather seats and sunroofs,” says Griffin, “but when your credit isn’t stellar, it is better to look at a lower-end automobile.”

    A Typical Deal and a Bad One

    Halim gives an example of a deal made for someone with bad credit: a $16,000 Nissan Versa. minus a $1,000 bonus cash incentive, financed for 72 months with $1,000 down. The interest rate would be around 17.9 percent, which would bring the monthly payment to about $354. At the end of the six years, you would have paid $25,485 for that Versa.

    These numbers will vary based on how much you’re putting down, what you’re financing and what you’ve been approved for, but it gives you a rough idea on what this type of deal looks like. A sizable percentage of the loan will be the interest ($9,927 in this example), but this is the reality when you’re borrowing in this credit tier.

    Just remember that it could be worse if you were dealing with a “buy here, pay here” car purchase. While talking to Halim, for example, we heard about a customer who had purchased a car from a “buy here, pay here” dealership and no longer wanted the car. The loan was for $4,200, to be paid over 36 months. The person already had made 22 payments of $322 and still owed $3,800 on the principal, thanks to an exorbitant interest rate. It approached the California legal maximum of 29.9 percent.

    Resist the Urge To Trade Up

    A number of new-car dealerships offer their credit-challenged customers the chance to trade into another vehicle without a significant increase in their monthly payment, provided they’ve made a year’s worth of consecutive on-time payments. While it may be tempting to get out of a Nissan Sentra and into a Nissan Altima. for example, you will be adding more debt to your next loan.

    If you want to move up to a larger or nicer car, a smarter strategy is to refinance the current loan for a lower interest rate and monthly payment, then stick out the loan until the initial car is paid off. When it’s time to purchase your next car, you should be in a higher credit tier (assuming you’ve also done well on your other bills), and will qualify for a nicer car.

    The New You

    If you’ve done your credit homework, shopped within your price range and made all your payments, you’ve not only improved your credit score but also set up positive finance habits that will serve you well for years to come.

    When an Attorney Can Help in a Car Accident Case.


    #auto accident lawyer
    #

    When an Attorney Can Help in a Car Accident Case

    Need a lawyer? Choose an area of practice:

    An automobile accident brings with it a host of questions. Who is at fault? Who pays for damage to my car? Am I entitled to a rental car? Who will pay for my medical bills? Can I ask the insurance company to reimburse me for lost wages? An experienced injury attorney can be extremely helpful in negotiating the often chaotic and confusing world of insurance claims and settlements.

    Because most injury attorneys work on a contingent-fee basis. and only get paid if there is a successful resolution to your claim, there is often little incentive to try to handle these types of claims on your own.

    Knowledge of Law and Procedural Rules

    Hiring a personal injury attorney to represent you after a car accident means you will have a professional working for you — one who is extremely knowledgeable about the relevant laws and procedural rules that may affect your case.

    An attorney can advise you of any time limits (called statutes of limitations ) that can bar you from filing a lawsuit against the at-fault driver. For instance, in many states you must file your lawsuit within two years of your car accident or be forever prohibited from filing your lawsuit. An attorney will also be able to inform you about any special exceptions to the statute of limitations — for minors, for example.

    Your attorney can file a lawsuit on your behalf and will know how best to handle any possible defenses raised by the other side. In addition, once your case gets under way, an attorney will be an invaluable guide in navigating the often confusing world of trial preparation — and even going to trial if your case doesn’t settle .

    Finally, and perhaps most importantly, having an attorney who is knowledgeable about the law evens the playing field, especially when you are going up against the experience and vast resources of a large insurance company.

    Lawyers Do The Legwork

    There is a lot of work that goes into negotiating an insurance settlement and trying a personal injury lawsuit. After you have been in a car accident, taking on this time-consuming work may be the last thing you want to do, assuming you’re able. An attorney can do it all for you.

    Whereas this may be your first time dealing with the ins and outs of an accident claim, injury attorneys have dealt with all manner of claims and a variety of insurance companies. They have experience obtaining the necessary evidence to support your claim, including gathering police reports, witness statements, medical records and bills, and employment and lost wage information.

    Your attorney will also be able to organize the evidence and prepare a settlement demand letter for the insurance company. If you are unable to settle your accident case, your attorney can take care of filing the necessary paperwork to start a court case and can deal with the defense attorneys on your behalf. Having someone knowledgeable handling the hard work of your case eases the burden on you, which is especially important if you have been seriously injured and are trying to recover from your injuries.

    An Attorney Advocates for You

    Perhaps the most important way an attorney can help you with your car accident case is by being your advocate. This means that your attorney acts on your behalf and for your benefit throughout the entire claims process (negotiating with the automobile insurance company) and even in court if a lawsuit becomes necessary. He or she will be your champion before the judge, jury and other attorneys, making sure that your side of the story is heard and that you are compensated for all of your losses .

    Having an experienced and articulate advocate working for you is essential in obtaining a reasonable and fair resolution in your car accident case.

    Refinance Auto Loan – When to Refinance Your Car Loan


    #auto loan refinancing
    #

    5 situations when it makes the most sense to refinance your car

    By Russ Heaps • Bankrate.com

    With interest rates remaining so low, an auto refinance may have crossed your mind — and it could be a good idea.

    Doing so could save hundreds of dollars each year and sometimes thousands over the life of the loan.

    If your current car loan interest rate is above 6%, you might want to investigate refinancing.

    Unlike refinancing your mortgage or even consolidating credit card balances, refinancing your vehicle loan is usually quick, easy and painless. No appraisal will be required. And usually there are minimal, if any, fees.

    But refinancing is not for everyone. It makes sense if, since the original loan, you find yourself in one or more of these five situations:

    • Interest rates have dropped. If interest rates have dropped more than a couple of points since purchasing your vehicle, you could save some money. In this case, loans at refi rates are considered used car loans and as such, the rates usually are higher than new car loans. Remember, even a percentage point or 2 can make a big difference over the life of the loan.
    • Your credit score has improved. If you had a few negatives on your credit report — or had no history of credit — when you bought your car, but your credit is healthier now, you may qualify for a lower interest rate. Interest rates of 18% or more for consumers with a thin credit history are common. Several months of on-time payments could entice a lender to refinance that loan at a lower rate. Steve Schooff, a former spokesman for Capital One Auto Finance, says consumers should check their credit scores before refinancing.

    Your credit score has a major influence on auto loan rates. Get your score for free at myBankrate .

  • You didn’t get your best rate when you purchased. Just because you had a high credit score and unblemished credit history doesn’t mean you got the best rate you could have received when you purchased the car. Dealer-sourced vehicle loans commonly carry a higher rate than the consumer deserves because the consumer simply didn’t know better. The extra money is a profit source to the dealer, like rust-proofing or extended warranties. When this is discovered after the fact, it may pay to refinance.
  • Your personal financial landscape has deteriorated. If you have had a financial setback and need to reduce your payments, refinancing could be a solution by increasing the loan term, thereby lowering the monthly payment.
  • Your car lease is expiring and you want to purchase the vehicle. When you fulfill the terms of a lease, you typically have the option to buy the vehicle.
  • Finding a lender that refinances is the easiest step in the process. Credit unions do big business in vehicle loan refinancing and they have money to lend. You will need to open a checking or savings account at one if you’re not already a member.

    How much can you expect to save? According to Schooff, if one year ago you took a $25,000 auto loan for five years at 7.75% interest, refinancing the balance today at:

    • 4.75% for the remaining four years of the loan would save $1,373 — $28.60 per month.
    • 5.75% for the remaining four years of the loan would save $906 — $18.88 a month.
    • 6.75% for the remaining four years of the loan would save $448 — $9.33 a month.

    Refinancing isn’t an option for everyone. If the vehicle is worth less than the loan balance (upside down), a lender probably won’t take the chance and at the same time lower your interest rate. You can determine the current value of the vehicle through Kelley Blue Book, or KBB.com, Edmunds.com or AutoTrader.com.

    Other requirements may also disqualify you, such as the age of the vehicle and the outstanding balance to be refinanced. Capital One Auto Finance, for example, will not refinance a vehicle more than 7 years old; the amount of the loan can be no less than $7,500 and no more than $40,000.

    It’s important, Schooff says, “that consumers determine if their current auto loan has any penalties for paying off the loan early. This will impact how much they can save from refinancing.”

    Call your lender and request the current payoff amount of your loan. This is the amount of money you need to refinance. It is also the figure you’ll compare against the vehicle’s value to determine if the vehicle is worth more than the amount you need to borrow.

    There is no required amount of time from the date of the original loan until you can refinance. Actually, because of the way most auto loans are structured, the majority of the interest is paid during the first half of the term of the loan. The younger the current loan is, the more money refinancing will usually save.

    Once you know your payoff, you can determine how much refinancing can save each month by using Bankrate’s auto loan calculator to find your new payment, then subtract it from your existing payment.

    Because most refinancing loans are fairly straightforward, decisions are usually made quickly. Schooff says Capital One Auto Finance typically gives the consumer a decision by email within 24 hours of submitting the online application.

    If you find yourself upside down in your car loan and for personal reasons need to lower your payment, you may be able to persuade your current lender to modify your loan, lowering the monthly payments by extending the term of the loan or reducing the interest rate.

    It’s important to act before your payments fall behind. The earlier you open communications with your lender, the better the chance of coming to an arrangement.