Each year, thousands of workers around the nation intend to use their tax refunds to purchase new vehicles, according to a survey by eBay.
Determining how much of the refund to appropriate towards purchasing a car is a major decision that depends on your budget, lifestyle, and financing options. There are seven considerations to keep in mind to successfully use a tax refund for the purchase of an automobile. Continue reading…
When shopping around for a used car, it’s easy to simply trust what a seller tells you. Although many dealerships sell used cars that are pre-inspected, you never quite know what you’re getting unless you get a second opinion or the car is from a reputable dealership. While vehicle history reports are always recommended, they don’t always shed light on the little details. That’s why, for many car shoppers, it pays to know a thing or two about car inspections. At the very least, you won’t always need to rely on your mechanic or a friend to inspect a car for you. Continue reading…
Via Saving Advice.
We’ve all seen the signs, “Sign and Drive! $0 Down!”
Seems great, doesn’t it?Who wouldn’t want to “sign and drive” away in a great car?
How many other things would you be able to spend your savings on if there was no down payment required? Just think – you could finally take that vacation you’ve always wanted! Before you get too excited, these “sign and drive” deals, not surprisingly, come with a catch. Let’s take a look at how it works.
$0 Down Now, Much More Later
In order to qualify for seemingly generous $0 down payment deals, excellent credit is generally a requirement. Despite your credit score, most dealerships offering “no down payments” do so because they take “hold checks” instead of an up-front payment. This means that over a period of time the buyer is required to provide a series of checks to the dealer on specified dates. However, more often than not this system results in a much higher debt load than simply paying a down payment, as buyers struggle to make their monthly payments and issue timely “hold checks.”
Shopping for your dream car should be fun, right?
At the very least, it shouldn’t involve frustrating hours spent going to dealerships and talking to eager salespeople. As I’m sure you’ll agree, most customers arrive on a car lot and immediately feel like a kid in a candy store. It’s this initial wonder and excitement that makes car shopping fun – and that’s exactly what DriveTime.com is bringing to online car shoppers. Continue reading…
Since the rise in subprime auto loans, some dealerships simply aim to get cars off the lot instead of helping their customer make the best purchase for their situation.
Although customers don’t always think about it this way, every market participates in a battle for a customer’s attention – and money. Nothing is more eye-catching than a dealership that will approve buyers with bad credit without flinching. Because of this, more and more “Buy Here, Pay Here” dealerships are targeting buyers with bad credit. As a result, many individuals with poor credit are agreeing to high interest rate loans from a less-than-reputable dealership. Continue reading…
