Tips For First Time Car Buyers to Get Online Auto Loans

What Are First Time Buyer Auto Loan Programs?

Whether you are buying your first new or used car or are planning to apply for online auto loans for the first time, understanding how automobile dealerships and lenders see you, and what you can do to improve that image, can help you to be prepared in advance of applying for online auto loans for the first time, so that you will be in a better position to get approved for a car loan with a lower interest rate and better terms. After all, you want your monthly auto loan payment to be the lowest it can possibly be, right?

Who might apply for first-time buyer car loans? Some people that first-time auto loan programs can help could be:

* Teenagers, personally buying their first car in their own name will need to apply for first-time buyer auto loans as they have no credit history behind them

* College students living away from home for the first time frequently have not had time to build a credit history before leaving for school and so will often need to apply for first time buyer car loan programs

* People that have always paid cash for vehicles in the past, but now want to upgrade to a newer one or are forced to take out automobile loan because they do not have the cash funds to buy a vehicle at present

* Immigrants that have moved here from other countries, and thus have left their credit histories behind, may need to apply for first-time auto loan programs in order to start building a credit history

Not All First Time Auto Loan Borrowers are in the Same Boat

The first thing to realize is that not all first-time borrowers are in the same boat. There can be a lot of different factors that can either work in your favor or against you when you are applying for online auto financing. For instance:

* Are you employed full or part-time? If you are not employed, do you have an income? Not being employed is not necessarily a game stopper, but if you plan to have your name on the title of the car and on the auto finance, you will need to demonstrate that you have either a job, regular income, or other funds that you will be paying your monthly auto loan payment from. Of course, the higher that your income is, the easier it will be to qualify for lower interest rate first-time buyer auto loan programs.

* Do you have no credit history, because you are just starting out your financial life, or do you have a bad credit history/low credit score because you have had a few credit slip-ups in the past? Dealerships will certainly work with you in either case. However, if you have a low credit score, depending on how bad your credit history is, the dealership may be inclined to offer you a higher rate of interest and a lower credit limit on first-time buyer auto loans as opposed to someone that has not made any credit mistakes in their financial life yet.

Note, see our recent article entitled “How to Get Approved for an Auto Loan with Bad Credit if you have Low Income” to learn how to get unwanted items removed from your credit report to bring up your credit score.

* Will you have any funds available to make a down payment on your auto loan? Whether you are applying for first time buyer auto loans, or if you have had auto loans in the past and just need another one now, what every auto dealership or lender is going to take into consideration when assessing your application and the items on this list is; how much of a risk are they taking in making an auto loan to you and what if anything can they get you to do to mitigate that risk. Making a down payment is one thing that you can do to mitigate the dealership’s risk, making them more likely to quickly approve your automobile loan and to give you a more reasonable interest rate. In addition, a down payment will obviously bring down what you owe on the vehicle and so your monthly payments will be lower and more affordable. Down payments are usually not required to get online auto loans, but they can be very helpful when negotiating with a dealership. Even a small down payment can make a difference in how the dealership sees you.

* Is there someone that you know that would be willing to cosign for you on your auto loan? Cosigners are not required in order to get online auto loans, even if you have bad credit or no credit history at all. However, the use of a cosigner can save you a lot of money and make the application process go much more quickly and smoothly. A cosigner is someone that puts their name on your loan application along with yours, guaranteeing that the loan will be repaid. The limit and maximum amount of your automotive loan will be determined by the cosigner’s income and credit standing, not yours. So, if you choose to have a cosigner, make sure to pick one that has a high credit score. With a cosigner, there is really no need to look for first-time buyer auto loans because you will be treated by the dealership as though the higher credit score and income were yours.

* What is the ratio of your monthly housing payment as compared to your income? A little-known fact is that auto dealerships and lenders pay attention to this number. For instance, if you make $1,000 per month income, and your monthly housing cost is $300, then your housing cost takes 30% of your income. Anything over 40% will send up a red flag to the dealership/lender and they may need convincing that you can make your monthly payments on time. Take this into consideration when you complete your auto finance application.

Taking the above items into consideration, you should be able to get a clearer picture of how automotive dealerships and automotive loan lenders see you, and what you can do to control that image, at least to some extent. Once you have submitted your application, the die has been cast and you will see what the dealership offers you at that point.

Understanding Auto Insurance

Auto (car) insurance is a type of insurance coverage for damage to and resulting from an auto. Insurance of this type can cover a variety of things depending on the kind of auto insurance that has been purchased.

All auto insurance policies involve a premium, which is the payment a customer makes to have auto insurance. Premiums for auto insurance can be extremely divergent and are determined by a number of factors. Gender is the major determinant for auto insurance premiums. Statistically, men are 80% more likely to be involved in an accident, and therefore have a greater need for insurance. Auto insurance premiums for men are higher than auto insurance premiums for women. Similarly, teenagers are considered high risk and will have to pay higher auto insurance premiums. The auto insurance premium can be reduced if the teenager takes a defensive driving course. Many states require teenagers to take defensive driving courses in order to obtain a driving permit and auto insurance.

It is customary for auto insurance plans to have a deductible that the customer is responsible for before the auto insurance provider offers coverage of expenses. Deductibles can have an effect on the coverage available under an auto insurance plan.

Auto insurance is slightly different than other types of insurance because you can purchase auto insurance that covers specific needs. For this reason, there are different kinds of auto insurance. Auto insurance basics are covered by liability auto insurance plans. Liability auto insurance is usually the minimum required by state laws. Liability auto insurance is characterized by a set dollar amount of coverage for damages resulting from accidents or negligence. The coverage amount of liability auto insurance can be applied to property damaged in the accident that is not an auto.

Car insurance also comes with collision auto insurance. Collision auto insurance is meant to cover the cost of repairs to a vehicle involved in an accident, or the cash value of the vehicle if it cannot be repaired.

Comprehensive auto insurance is also available. With comprehensive auto insurance, coverage of fees for repairs is provided for accidents that are not collisions. Comprehensive auto insurance will, for example, cover hail or fire damage.

Transport Your Vehicle At A Low Price With Auto Transport Services

If you want a company to move your vehicle, you will need to engage in some serious research first. A simple internet search term for “auto transport discount” will reveal thousands of hits and it is your job to find the best ones. However, unless you really know what you are talking about, how do you recognize with the auto transport discount offer is genuine and which one should not be trusted with a raw egg, let alone your vehicle? One great thing is that simply by looking into the different companies that are around, you will already learn a lot of about methods of transportation.

Finding Quotations For Auto Transport Discount
As stated earlier, the best way to learn about transporting your car is by contacting companies. However, as also stated before, an internet search will present you with thousands of hits and you probably don’t have the time to try them out both. People usually presume that the hits that appear on the first page are also the best. They usually are, but you should not accept this blindly. It is possible that the owner of the website is better at SEO marketing than he or she is at offering auto transport discount. So, unfortunately, it isn’t as simple as contacting the top five companies and hoping for the best. So how do you get a shortlist of companies that you can ask for quotations? Using common sense is generally the best policy. Look through the results for auto transport companies that you have found and think about which ones strike you as genuine and which ones do not. As stated earlier, most of the really good companies offering auto transport discount do manage to get on the first page of Google, so realistically you only have to sift through those results, or perhaps go to the second page as well. Take a look at the websites and dismiss the ones who have a website that is poorly designed or poorly written, as well as those that are too flashy. That is a very common sales gimmick and quite simply not what you should be looking for. Hopefully, once you have completed this, you should be left with no more than five different companies offering auto transport discount and with a bit of luck, the best nationwide car transport service is among that. Getting five quotations is always the best policy, because it allows you to really compare the different offers and find out who offers the best value for money. Always remember that value for money does not mean cheap. Speak to each of the companies you are considering and tell them about the vehicle that you want to have transported. Ask them how they intend to transport it. This will allow you to get a good idea of the methods employed by companies offering auto transport discount. Always ask why they choose a specific method, as this will give you a better idea of what seems safest to you.

Using The Online World Even More To Find The Best Nationwide Car Transport Service
You can actually use the internet to your benefit even more. As shown, the internet should already help you to find the best nationwide car transport service, but it also allows you to have a wider search range. If you were to use the yellow pages only, you will be limited to your geographical area and this is not necessarily the best auto transport discount that is out there. Not just that, if you were to purchase a vehicle that is far from your geographical area, it will make much better business sense to use a company that is nearer to the location of the vehicle, rather than your location as this will usually work out cheaper.

Using the internet will also help you to keep costs down significantly. A lot of companies claim that if you can find the same like for like quotation at a cheaper price, they will match it or even go below it. True, this can add some time in your quest for the best auto transport companies, but we live in difficult economic times and getting the best deal on something is very important. Also, the internet may even provide you with price comparison websites for auto transport discount, where you will be able to find the best price at just a glance. Remember, however, that finding the best price does not necessarily give you the best possible company so make sure you still check the companies out one by one. Last but certainly not least, finding a company online and booking your car transport online may give you even further discounts. Clearly, the internet is your best friend in the search for auto transport discount. Make sure you use it to the best of your advantage.

What To Expect From The Service
Armed with all this information, you should be able to find the best value for money on your auto transport service. But what can you expect from an auto transport company? What service will you receive and what will they actually do? An auto transport company is able to transport vehicles from one location to another. This can be beneficial if you work for a salvage company or own a scrap yard. Or perhaps you have seen the car of your dreams on the other side of the country and don’t actually have the possibility to go out there and drive it back yourself. An auto transport discount service is there to load up your vehicle or vehicles and drive it to whichever destination you want. The vehicle is securely strapped to the back of a truck, together with any other vehicle, and is taken to its destination. The best nationwide car transport service will always be happy to explain further details about this to you. Don’t confuse auto transport discount services with tow trucks. A tow truck tows a car over a relatively short distance. This can be because they have committed a parking violation or because they have broken down alongside a road. Whichever the case, the key here is that this service is not applicable for long distances. After all, you couldn’t tow a car all across California for example.

The Bottom Line
Basically, you should never feel rushed in making a decision. An auto transport company tends to transport an item that is generally of high value. A car, after all, is not a cheap toy that can easily be disposed of. Make sure you pay very close attention to all the quotations you receive. Read all the small print on any details that you get sent from the auto transport discount company. Think about such things as what sort of insurance they have, what would happen in case your vehicle arrives damaged, what would happen if they don’t arrive on time. If your car has to be transported over very long distances, make sure that the auto transport discount service has measures in place to protect the health and safety of their drivers. Do they have machines installed that force the trucks to go no faster than a certain speed? What arrangements do they have in terms of working hours? Also look at the company’s history. Have they had mainly satisfied customers and if not, what were the complaints? When looking at the complaints that an auto transport company has received, it is not so much about the content of the complaint, it is about how the company has responded to this. Remember that there are people out there who feel complaining is a national sport, which makes it clear that the reaction in dealing with any complaint is far more important.

You should now be armed with all the information that you could possibly need to find the best auto transport company. Always remember that it is good to look for an auto transport discount, but that price should not be the main driver in finding the best nationwide car transport service. Indeed, what is important is that the auto transport discount company that you intend to work with is safe and experienced in dealing with what you need. Do they know the vehicle or vehicles that you want transporting? Do they understand how to keep things safe and secure? Do they protect their staff? Do they have a good track record? For one last bit of security, you could once again use the internet to find reviews on the different auto transport discount services that are out there. Do make sure that these reviews are independent and not actually from the company itself. Also, don’t trust the reviews you read on the company’s website. They are highly unlikely to post anything on there that is highly negative. This doesn’t mean that the positive reviews on the service aren’t genuine. However, they will not give you the complete picture of customer experience. Never be afraid to ask questions, a good company should be happy to answer any query.

Auto Salvage Yards – Money Saving

Auto Salvage yards have been around as long as cars in some form or the other. They have been saving money for motorists for many years by providing good quality parts for your vehicles.

Whether you drive a four-door luxury sedan, a streamlined speed machine or a heavy-duty SUV, repairing your vehicle when it is damaged can be expensive. Parts costs are a huge factor in many repairs.

With recessionary times around, your local Auto Wrecking Yard has never been a better place to help you save hundreds of dollars on auto repairs. You can find numerous Auto Salvage yards in your state to help you find the parts you need to fit your vehicle.

Most parts purchased at an Auto Salvage Yard average 50% to 75% less than purchasing directly from the main auto dealer. Used auto parts are also many dollars less than Spurious parts (spurious parts – non-original parts).

You can also be confident that the used auto parts you purchase will also fit perfectly in your car the first time and every time. Spurious parts are known to have issues with fitment as they are only replicas of the original parts and everybody knows a copy is never as good as the original. So the question is why compromise?

So you have your parts what next? In Short, you have two options you can go once you have gone to your local Auto Salvage Yard and have purchased the necessary used auto parts that you require.

The most common for people who buy used auto parts is to fit them themselves. Most auto D.I.Y.er’s will purchase the parts they need, strip off the old broken parts and fit the used auto parts at home. This is the most cost-effective way of repairing or changing your vehicle.

The second option is to bring the used auto parts and your vehicle to a qualified mechanic and get them to fit the parts for you. This has the advantage of significantly reducing your overall cost of repairing your car, as you generally will only be paying for the mechanic’s labor. Some people will drop their vehicle into a mechanic ask for a quote for work needed, go out and purchase the used auto parts from the quote then give them to the mechanic to fit (this is a great way of doing it and seeing the money-saving opportunities)

Auto Repairs: How To Check Out Any Local Garage First

Everyone wants to find a good, honest and reliable local garage which gives them value for money every time. So how do you go about finding one locally? The good news, it is possible if you just follow these 4 simple steps. This, in turn, eliminates the chances of you using the wrong ones that are going to charge you over the top. And the first step is to get personal recommendations especially from those that drive around in a similar model and make of car as yours.

Step 1 – How to get personal Auto Repairs recommendations

So you drive around in a model of car that not many own or drive. So how do go about getting personal recommendations? Well, it is now that much easier. Just email or text friends, relatives and work colleagues to ask them if they know of anyone who drives a similar model and make of car as yours locally. Give them your details as well as saying you are looking for a reliable garage to service or to do some auto repairs on your car in the local area. If they don’t know of anyone, get them to ask their friends. They, in turn, may know someone. As the saying goes, you are no more than 6 people away from the person you want to contact or speak to. Try it out. It works. You’ll be amazed at the results. Now on to the next step.

Step 2 – You now have a shortlist of potential garages to use for your auto repairs.

So what questions should you now ask those who have just recommended a particular garage for some auto repairs? Here are just some to get you started:

1. What do they like about the auto repairs in particular? Find out the reasons why.

2. How long have they been using the garage for servicing and for auto repairs?

3. What did they have done last on their car? Have they had any other auto repairs done using the same garage?

4. What was the service like? Any feedback? How was the car returned to them? Was it clean and tidy?

5. Was it repaired on the day and at the time it was booked in? Or do the auto repairs always over-run?

6. Were they informed of any other extra auto repairs that needed to be done before they were actually carried out? Did the auto repairs garage give them a quote at the time and more importantly did they keep it?

7. Was the invoice itemised with a detailed breakdown of the auto repairs done including parts replaced? Were there any hidden nasty surprises added to the bill they knew nothing about?

8. Did the auto garage stamp the service book and were they any other issues?

9. How did they book their car in? Was there a long waiting period of say over a week to book their car in etc?

10. The garage itself was it well run, tidy, clean and well maintained? What was the general attitude of the staff? Were they polite and helpful?

11. Have they had any reason to go back to the garage to have some of the auto repairs looked at again?

Step 3 – Now to check out those auto repairs/garages on your shortlist

You now have a shortlist of the potential garages to use for your urgently needed auto repairs. You now need to quickly vet all of these out. First phone the auto repairs up and ask them for a service quote for your make and model of car.

1. How long were you kept waiting on the phone before it was answered?

2. Were they specific and detailed as to what is included as part of the service and what isn’t?

In most cases, the way the reception staff operates and how they deal with the public ( i.e. customer care) is a reflection of how the auto repairs are being run. Yes, the person may be having a bad day. But even if they are, they should be professional and at their best when dealing with the public.

After a few days, you now need to do a quick visit to the auto repairs itself. It’s best not to go first thing in the morning as you want to see how the auto repairs are working properly at a busy time. Simply go to the reception desk and again ask them for a quote on the servicing of your car. Give them your card details etc. This is now your chance to ask any other questions you may still have:

If any work is undertaken on your car, how long is guaranteed for? It is always best to use an actual example to get all the details. This is so there can be no misunderstanding.

Ask them what is included in the service and what isn’t. You can now compare this to what was said on the phone earlier. Are they any differences? If there are, ask them why this is the case?

Find out where you collect the car once it has been serviced. You want your car to be parked and kept in a secure place. And not down a narrow side road where cars have difficulty parking and passing.

As part of the small talk, ask them how long they been working on the auto repairs? Lead them on and see how they react to your comment “It seems to be a very friendly place etc”. If they say yes it is, ask them how long most of the staff stay. Ask what training they have had most recently.

Once you have finished with the reception, look around generally:

1. Watch how the telephone messages are taken. Is it done systematically or just ad hoc on a piece of paper etc?

2. Is all the paperwork and documentation kept in an orderly way for each car?

3. Are the notice boards tidy and up-to-date?

Review everything including how you were generally treated.

Step 4 – Now for the final test.

Once you have done the same for all the other auto repairs on your shortlist you can now decide which auto repairs to go with:

1. Best to give your chosen garage a small auto repair job first if you can, to see how they do it. What many also do at the same time is to mention they were recommended by the such and such person with so and so car who also uses them.

2. If more than one person has given you a personal recommendation for that garage also mention their name. This way the auto garage knows that you are a serious customer. By doing this you ensure they will do an excellent job rather than risk you going back to their other existing customers and telling them otherwise. Play them at their own game.

Lastly, as soon as you have changed your car to a new one, especially to a different make and model of car, you may need to find another suitable auto repairs to do the servicing and repairs to your car in the future. However, you may be lucky in that the auto repairs you are presently using can also do all the servicing and any necessary repairs on your new car. Find out now if this is the case, and not when you need a garage in a hurry.