I Just Want a Good Deal! OK! Now What Do I Do?

by: Chuck Norlin

There are many factors at play to determine the best time to purchase a vehicle, whether new or used. These factors involve local, national, and local/national events that occur on a regular and irregular basis. Having said that, one would have to master the knowledge of economic and business trade cycles, and then attempt to apply that information to a specific vehicle within your specific purchase arena.

The real way to purchase a vehicle (and you can do this 365 days and nights a year) is by doing your homework and being prepared to buy rather than being sold. Is that possible? Absolutely, and by investing a few hours of time you will save hundreds, even thousands of dollars, and you will be empowered and you will know what you are doing.

There exists on the internet every tool you will ever need to make an intelligent vehicle purchase. There are sources that combine all the information that you will ever need in a simple and straightforward format that is easy to follow and simple to navigate. www.thebestdealofyourlife.com is as good as it gets, and supplies you with all the needed site information with links, simple fill in the blank forms, and a complete guide to take you through the buying/selling/trading process step by step.

The key to success in anything we do is knowledge, preparation, and application. Want to be a surgeon? K. P. A. Want to be a lawyer? K. P. A. Want to be an accountant? K. P. A. Regardless of what we do, buy a car, build a house, buy a lawnmower or bake a cake, what is required? Knowledge, preparation, and application.

I continually answer questions on a regular basis about making a car deal. How? What to do? When? Where do I get the information I need? What is this? What is that? And after having assisted thousands of customers in their purchases it is easy to understand why those questions are asked.

The car people purposely keep their customers in the dark as to the information they need to make a “good” deal, and always have. Now that the information is readily available (although there are very few places where one can go and get most of what they need, and only a handful where they can get everything they need) it is still difficult for the buyer to put it all together in an understandable and easily workable format that actually works in their favor.

So, what does one need to get a “good deal”, and what does it take to get a “great deal”? Knowledge. Preparation. Application. And I would add the willingness of one to actually invest the effort to get a good deal which requires doing their homework BEFORE visiting the car store. Everything is there, the difficult part is finding the information in one place, and information that actually works, is consumer friendly and simple to apply.

Six Ways to Use the Internet to Improve Your New & Used-Vehicle Shopping Experience to Buy or Lease;

With so much content and information available online today, the Internet is making it easier than ever for prospective buyers to shop for a used vehicle. The following tips may be helpful for shoppers in the market for a used vehicle and may help improve satisfaction with their used-vehicle purchase experience.

1. Visit a variety of Web sites. With an abundance of information available online for used-vehicle shoppers, it’s helpful to know where to find what you’re looking for. Independent sites are good places to find intuitive search tools that match shoppers with the right vehicle for their needs, as well as pricing and reliability information. Dealerships often maintain sites that provide their current vehicle inventories, while many manufacturer sites allow shoppers to search for certified pre-owned vehicles in their area.

2. Search for comparative used-vehicle pricing. The development of Web sites such as Kelley Blue Book (kbb.com), AutoTrader.com and Edmunds.com have made searching for used-vehicle pricing information easy. Using these sites to compare prices will give shoppers a general idea of their desired vehicle’s price range without leaving the comfort of their homes.

3. Consider online classified ads. Online classified ads sites such as AutoTrader.com and cars.com are a competitive and convenient tool to give shoppers more options when considering a used vehicle. These sites allow sellers to post used-vehicle listings along with several pictures that can be viewed easily by shoppers, based on their preferred zip code.

4. Purchase or ask for a Vehicle History Report. Vehicle History Reports (VHRs) are an inexpensive way to check the track record of any used vehicle. According to the 2006 Used Autoshopper.com Study, nearly one-third (32%) of automotive Internet users receive a free vehicle history report from the seller. If your dealer or private seller does not offer a VHR free of charge, one can be purchased online through sites such as CARFAX.com and AutoCheck.com.

5. Search for financing and compare interest rates online. When shoppers have financing arranged ahead of time, it often gives them greater negotiating power when dealing with the seller. On most sites, applying for financing is fairly easy, and the interest rates offered by many online lenders are comparable to or possibly better than those offered by dealers.

J.D. Power and Associates 2006 Used Autoshopper.com

6. Go to www.thebestdealofyourlife.com, read the first page and discover the truth, learn specific facts you need to make your best deal and check out the link page (button at the bottom of the page).

How to get the best auto loan deal

By Credit Federal

How to get the best auto loan deal: Make a list of every car dealership selling your brand of car. Call the dealerships, and tell them exactly what you are looking for. Let them know you are calling every dealership in the area to get their best price. Most will undoubtedly want you to come to their showroom before quoting a price. Do not do this. Tell them you don't want to waste their time or yours and you are only going to go to the showroom offering the best price on the phone.

Be aware that dealers may attempt to trick or persuade you. They may mentions that other dealers will tell you one thing over the phone, but when you arrive in their showroom they will have hidden fees attached to the quoted sale price. Calmly explain that if any dealer pulls that on you, you will walk right out of their showroom.

If a dealer refuses to quote a price over the telephone, or if you are getting tired of arguing with them, politely tell them you understand if they don't want to give you a quote over the phone, but you will only buy your car from someone willing to serve you in the way in which you need to be served. If they can't do that, you will simply call someone who can. This will almost certainly convince them that they had better work with you over the phone.

Do be intimidated. If a sales person is too aggressive, either ask to speak to their sales manager or hang up.

After you have gone down your list, call each one back and tell them the current lowest quote you've gotten from another dealer, and ask them if they can beat it.

Call back every dealer who beat the lowest price in the first round, and ask if they can now beat the newest, lowest price.

Once you are satisfied that you have the lowest price in the area, go to that dealership and ask for the person who quoted you the price. Remind the person of the quote, and make sure it is honored. If not, go to the dealership with the next lowest quote.

The process above may be time consuming, but don't let that interfere with getting the lowest auto quote.

When seeking an auto loan, be aware that dealer financing may not be the best deal. Get auto lender quotes directly and compare the financing they offer with a dealer's offer. Offers vary, so shop around for the best deal. Be sure to compare the annual percentage rate (APR) and the term length of the loan. When negotiating an auto loan, be wary of focusing only on the monthly payment. The total amount you will pay depends on the price of the car you negotiate, the APR, and the loan's repayment term.

Dealers may offer low auto loan rates for specific cars or models, but may not be willing to negotiate on the prices. To qualify for the special rates, you may be required to make a large down payment, and these offers may not apply to bad credit auto loan applicants. With these conditions, you may find that it?s sometimes more affordable to pay higher financing charges on a car that is lower in price or to buy a car that requires a smaller down payment.

Before you sign an auto loan contract, consider the terms of the financing and evaluate whether it is affordable. Some dealers and lenders may ask if you want to buy credit life or disability insurance to pay off your loan should you die or become disabled. In many cases, you can obtain lower rate insurance if you deal directly with an agent instead of purchasing from the dealer or lender because you won't have to pay their commission fee.

You may discover that having a check already in hand can get you a better deal. So apply online now and get free quote for a good or bad credit auto loan.

Auto Loan Options For Bad Credit Borrowers

presented by Attorney Mory Brenner

More and more bad credit auto loan ads these days bombard debtors and other bad credit borrowers with the concept that they can buy a car or truck no matter what their credit may look like. Although most of these ads are based on truths, in this article I will carefully review some of the bad credit auto loan pit falls to be aware of, and help debtors to understand how some of these systems work.

The direct finance business works as a good credit auto loan would from your local bank, except borrowers with bad credit will be expected to bring in a larger down payment and pay a higher interest rate. Most local lenders, of course, will not make these loans at all to borrowers with bad credit. Depending on the severity of one's bad credit, down payments for these loans can range from 20% to 50% and depending on the credit and legal limits of the state one lives in, interest rates can range from 12% to 26%. I have even seen in a few states extreme cases where borrowers already owning cars use their vehicles as collateral for very short-term loans. The effective interest rate can be as much as 144% per year. These loans, sometimes called title loans, offer a short-term loan at 12% per month, so when the loan can not be paid off another loan at 12% must be taken. Such lending is illegal in most states and even where allowed I can think of almost no situation where taking out such a loan would represent a prudent financial decision. In most cases debtors with bad credit should expect to pay in the 12% to 18% interest range. Amortization (the time needed to pay the loan in full if all regular payments are made) choices offered may only range from 2 to 4 years opposed to good credit borrowers whose auto loans may extend for as long as 5 to 7 years. Certain amortization schedules and higher interest rates combine for payments that can be considerably higher than for those with excellent credit. The good news is that if these loans are paid on time they can also serve as tools for rebuilding credit. Dealers who advertise their willingness to work with bad credit auto purchases often ultimately finance the transaction with one of the direct lenders as described above. Dealer's who finance these loans internally sometimes combine of these things where they secure an external financing source by guaranteeing apart of the loan or allowing a part of the loan to remain un-funded until certain loan payments are made.

The greatest abuses in bad credit auto lending come from dealers who artificially inflate the prices of their cars and or the interest rates charged for the financing. A common tactic is for a dealer "specializing in bad credit purchasers" to price a car normally sold for $3,000 at $6,000, take $1,500 down and finance the balance at 24 to 26%. The reality would be that the borrower not only obligates themselves to a contract at a very, very high interest rate but that the under lying debt and price for the car bear no realistic relationship to the value of the vehicle. This leaves the borrower in a position that ultimately they will default on the loan further ruining their credit. Otherwise they will complete the contract by which time they may have paid double or triple what they would have for the same car if they had purchased it from a legitimate dealer at a legitimate price. The watch word here is "caveat emptor," let the buyer beware, some dealers advertising they work with poor credit purchasers may be honest and forthright dealers. The best consumer protection is knowledge. Research the true value of the cars you are purchasing and try to pay only the wholesale cost plus a $200 to $500 profit for the dealer. In only the rarest of instances should you pay more than the retail price of the car.

Sometimes purchasing and financing a car through a dealer works to the buyers' advantage. A company dealing in the finance operation only must make all of their money from the financing where the dealer also makes part of their money from the sale of the vehicle. In some incidences the incentive to sell the vehicle for the dealer and can mean financing concessions or less constringent guidelines. Surprisingly, this emerges frequently as a situation when purchasing a brand new vehicle. With a sizable down payment it may actually be easier for borrowers with bad credit to obtain financing for a new vehicle financed by the car manufacturers own funding arms because of the company's incentive to sell their new cars. Purchasers of new vehicles can also be aided by the fact that interest rates are lowered in these transactions. Newer cars generally merit lower interest rates than older cars and amortization for new cars are longer too. The result maybe that the payment for purchasing a new car may be the same or lower than payments may be purchasing a used car.

With the popularity of the Internet and the mass marketing capabilities of television, two new types of marketing have emerged for someone with bad credit to obtain an auto loan. The most prevalent advertising of this type on the Internet is a dealer network system. A potential customer can click on a site advertising that they can purchase a car regardless of their credit. The site requests certain information about the borrower. This information is then passed along to a dealer capable of working with purchasers who have a problem in their credit history. How well these systems works will depend on the dealer used. It can be possible that the same referral network can have good and bad dealers. From the consumer point of view, since no fees are involved, the only caution is to understand the type of site you are working with and what they're doing with your information.

Application services, predominately found on the Internet, involve automatic multiple submission of financial information to potential lenders. In this case, the potential borrower fills out some in depth financial information. The coordinator of the network then forwards the information to lending sources that may be willing to make the loan. When all works correctly, the borrower hears from four lenders who then fight for the loan by competing against each other to offer the best rates and amortization. For bad credit auto loan candidates it may be more a case of one or two lenders coming forward without much fighting, but where not many sources exist this can be a great time saver.

In most of these cases, either the car dealers or lenders may contact the borrowers directly. If you don't have a car in mind already the dealer networks may be quite helpful in directing you to someone who has an inventory of vehicles and the experience and capability of securing a loan on the vehicle you wish to purchase. If you already have a vehicle in mind and are having trouble finding a financing source the multiple submission networks may be helpful.

Even with all of these opportunities which will allow "almost" anyone to obtain vehicle financing some borrowers will fall into the category that can not. People with no down payment whatsoever and bad credit may find it very difficult getting car financing. Debtors in the middle of bankruptcy proceedings may find that financing is not available until their bankruptcy case has concluded. Others may be pleasantly surprised to find financing only to realize payments on these loans beyond their means.

Don't be discouraged if your first few attempts at financing fail or if you have to settle for your second or third choices of vehicles. With perseverance, and if needed a little polishing up of your tarnished credit, you should be able to obtain safe and reliable transportation despite a previous bout of bad credit or bankruptcy.

Car Financing - Choosing The Right Financing Option

By Alfred Anderson

When it comes to a car purchase, the most preferred mode of financing the purchase is a car loan. The primary reason for the increasing popularity of car loans among car buyers is that it does not let you fell the pinch of the purchase. However car loans are of various types, which serve the interests of a wide variety of customers so it is of prime importance to select a loan option that best suits your requirements.

So how do you select the right loan option for yourself? The prerequisite to this is to analyze your finances, credit score and the amount of loan required. If you have a good credit score, getting a loan will not be a problem for you. Moreover with a good credit score, repayments become a lot easier since the interest rates charged are lesser than those of a bad credit loan. To sum up, loan applicants with good credit scores find immediate favor among the financing companies.

On the other hand most financial organizations are apprehensive about lending money to those with a bad credit history. Nevertheless, there are organizations that specialize in lending bad credit loans. The interest rates in this case are usually higher than those applicable for customers with a decent to good credit record. A steep interest rate should not be a concern for the customers since an individual’s credit score can be improved over a period of time and the loan can then be refinanced at a lower rate of interest.

Most of us have a special inclination for a specific car model, the price of which goes beyond out budget in most cases. Opting for a used car of similar make can be very good option provided you have checked the technical details well enough. Lack of technical knowledge is a hindrance, so get an expert who can check a used car and comment on it. Once you have short-listed the car, opt for a used car loan straightaway.

Apart from that it is wise not to depend on a single financing company. Ask for quotes from different companies and then settle for the better one. Online car loan calculators are available in various websites, which is a handy tool in comparing the interest rates. To sum up, the right type of loan is the one that you feel comfortable with.

Alfred Anderson has rich experience in the field of online brand marketing. His interests includes Internet marketing and research on emerging online business trends. Bad Credit Car Loans

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Where To Find The Cheapest Motor Loans

By Louis Rix

If you have found the car of your dreams then usually you will be faced with the problem of where to get the money to pay for it. As not many of us have the luxury of paying outright for it, the majority of us instead turn to a car loan or car finance. And when it comes to getting the cheapest motor loans then an online broker could help you to save money and time.

While there are many options when it comes to financing your new car taking out a motor loan does have many advantages. Perhaps the biggest is that if you go with a broker online, they will endeavour to secure you the cheapest motor loan and the interest rate on this will be a lot less than if you take out finance through a car dealership. Taking out a loan means that you will have the money in your hand when you go to buy your car and this gives you a lot more bargaining power. If you pay cash, then many dealers will knock a little off the asking price on the car.

Also, by choosing to take a loan independently of buying a car, you will have the option of looking around for the car yourself. This means that you can go privately for your car and the internet is a huge market place when it comes to buying a second hand car. There are many free-ads sites where private buyers will list their cars and if you know what you are looking for then you can get a great bargain.

Another big advantage when it comes to taking out a cheap motor loan is that as you are paying cash for the car then it is yours from the outset, their is no chance of the dealer being able to repossess the car if you default on the finance agreement.

Finally, if you ask the broker to go for a fixed rate interest loan then you will know exactly what you are paying out each month when it comes to the repayments. This means there are no nasty surprises if the interest rates should go up. By far the best way to get the cheapest loan is by going online with a broker, a broker knows where to look for the best deal for you which in the long run saves you a great deal of time and money.

Louis Rix is a Director of NetCars, one of the UK's leading motoring websites. First established in January 2000, it provides a used car search NetCars also provide finance, loans and insurance.

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