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31 posts categorized "Finance"

March 20, 2012

Car Buying Part 1: The Decision

This is about to be a long post...

Never mind. I will break it up into a series <adjusts title of post>. Read on!

I loved my Acura. She was this little blue sporty car, with leather seats and a good grip on the road. She cornered well, had a nice growl when you pushed the gas pedal, and I could drop the gears and pass almost anyone on a hill. I LOVED her. And I bought her on my own. She was my first. I wanted to have her forever.

If I had the money (and a partner who wouldn’t divorce me and a garage that could hold three cars), I would have kept her as a fun car, maybe even finally modifying her as a hobby. Because other than changing out the audio and adding in Bluetooth and a reverse sensor, she was stock. I bet she would corner really well if she was dropped a bit.

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This photo is of us back in 2006, the year after I bought her. Funny, I've had several hair colors and styles since then but I am back to dark and long. 

This was taken for Ask Patty when I worked there. You can even read my article on why I bought her.

Continue reading "Car Buying Part 1: The Decision" »

May 02, 2011

Ask Patty Makes Car Shopping Easy with American Express

(Sponsored content by AMEX)

Who Knew Car Shopping Could Be so Easy?

New-car shopping should be as fun and exciting as trying on a pair of the latest designer shoes—whether you’re buying a comfortable and affordable Chevrolet Cruze or putting a deposit down on a sporty, high-performance Porsche Panamera.

You shouldn’t have to worry about high-pressured salesmen and grueling negotiations. And now you don’t have to. Not anymore.

The American Express Auto Purchasing Program eliminates haggling, locks in a guaranteed low, upfront price, and makes car buying a pleasure.

Being Informed Helps Save You Money

The American Express Auto Purchasing Program provides valuable information about car buying. It makes you an informed shopper. And an informed shopper can save as much as $4,154 off MSRP*!

So, before you step into a dealership, visit the American Express Auto Purchasing Program at www.amexnetwork.com/autos.

From the comforts of your own home, you can search various makes and models, configure the car of your dreams with options you choose, and see the price you’ll pay for that vehicle. In addition, you can learn about your car’s features, read detailed vehicle reviews, and check out 360-degree views of your car.

Hassle-free buying with American Express

Your life is already busy enough. You don’t have time to spend negotiating with car dealers. So, why not shop from home on your computer? And when you’ve found the right car and submitted a lead to the dealer for that car, you will receive a Price Certificate that guarantees a low, upfront price—in writing—that can save you thousands off MSRP*!

What’s more, the American Express Auto Purchasing Program has carefully selected car dealers throughout the entire country who will honor the upfront price and provide exceptional service.

Also, know that when you’re shopping at American Express Certified Dealers, you can use any American Express® Card to help pay for your car!

So you’ve done your research and found the car you want. Now it’s time to step into the dealership, slip into your comfortable new car, and drive away satisfied and happy.

Visit the American Express Auto Purchasing Program at www.amexnetwork.com/autos. Save today on the car of your dreams!

*Prices vary by area. Average new car savings is based on actual customer transactions, including manufacturer incentives, as of 3/31/11.



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January 28, 2011

How to get the best financing deals on your vehicle purchase

Copyright All rights reserved by natloans by Sharleen Benet

If you're buying a new car or a truck or any other vehicle, you would look for the price you're getting on the purchase of the vehicle. You must look for ways you can get the best financing deals on your new vehicle purchase. There are a lot of expenditure apart from buying the vehicle and maintaining. You also need to purchase an auto insurance policy for your car or automobile. Get to know how a car financing is done and how much you can save on a new car purchase or get good deals when making a new car purchase.

What is vehicle financing?


Apart from buying the car and financing it, you also need to insure it against any mishaps or untoward incidents. So, check out the total costs you have to incur. When you're purchasing the auto insurance, you must get auto insurance quotes for better rates. If you want to buy a new vehicle, you need to finance or lease to get the vehicle. In cases with direct lending, buyers take out a loan from the bank or credit union. When a buyer takes out a loan based on direct lending, he agrees to pay back the amount financed as well as an agreed amount that will be paid for a period of time. When the buyer and the vehicle dealer enter an agreement, he agrees to pay the price of the vehicle with the loan proceeds. The loan for as vehicle financing can also be arranged over the Internet.

The most common of all financing is the dealership financing in which the process is same as the direct lending. Here, the dealership retains the contract but sells it to an assignee which is usually the bank or a credit union and this assignee collects the loan payments. Check out what a dealership financing has to offer to a vehicle buyer:

1. Low-rate programs:
From time to time, the dealership financing may offer low-rate and special programs for the convenience of the buyer. These programs can be manufactured-sponsored programs even.
2. Financing options: Since the dealership financing has a lot of relationships with banks and other financial institutions, this can offer a lot of financing options to buyers.
3. Ease: The dealers offer financing and vehicle buying at the same place and you need not to go elsewhere for financing.


How can you save on a new vehicle purchase?


Automobiles and houses are almost the same. Before you buy a house, you need to think well and then finance it. The same rule applies for vehicle purchasing. You may put off buying a new vehicle on the basis of heavy costs of a vehicle as well as the cost of insurance premiums. Check out how you can save on your new vehicle purchase:

1. The first most important part of your saving money on your new car or vehicle purchase is to shop for the better price. Check not only your favorite dealer but also other dealers whom you don't know. You never know where you can get lower price and can get other offers as well. Compare the prices you get and then settle for the best. If you have to buy a car from your old dealer, you can ask him to give discounts on the price of the vehicle you're buying.

2. Get all the information on the model of the vehicle you're buying. You can research the price on the Internet and check if you are paying more than the actual price of the vehicle. You can also take print-outs of the website and the price of the car model and show them to the car dealer for clarifications. Don’t let the salesperson take advantage of your unawareness and get all the details prior to you talk to them.

3. Since, this is the end of the year, you can also ask for end-of-the year discounts on your new vehicle purchase. If you're dealing with a new car dealer, you may get discounts to build a good relationship with you. Many of the car or other vehicle dealers give you better rate at the end of the year as new models and cars will be coming in the next year and they would want to get rid of the old ones. You may also get advertisements of the end-of-year sale in the TV channels.

4. Improve your credit report. This is one of the things people forget to consider when taking out a loan to buy a car or when negotiating for better vehicle price. You must try to pay off any debt or any other dues so that your credit report improves and you get discounts or lower price on your vehicle purchase. For having a good credit history, you must not stop using your old credit cards or accounts. Close the ones that are recent or stop using those credit cards that are not old and important. Try not to make any heavy purchases or else your credit score may not allow you to have a lower price for your car.

5. Negotiation can also get you get better deals and help you save a lot of money on your new vehicle purchase. If you're a good customer, you can get better deals on your new purchase. Try to be controlled when you talk to your dealer as if you are indifferent or get overexcited, you may not get what you want. When you talk to your dealer, talk to him confidently and ask them about the features of the car. Once you're done with these, you can come to the price and negotiate for better price. Tell them that your friends also would like to make purchases from that dealer and if he reduces the price a bit, it would do him and his friends good. You can refer that car dealer to your friends and relatives so that you can get better deals when you make further purchases.

You can also get great savings on your car if you buy your car during festive season such as Valentine's Day, Christmas and other major holidays. You'll get better discounts on the vehicles that you want to buy. You may ask your local dealer if they are giving any discounts on the coming holidays and if they are, you can start making preparation to buy a car.

This guest post is written by Sharleen Benet. Her deliberate writings include personal budgeting, personal finance management, process of coming out of credit card debt. She is a financial writer by profession and has specialization in dealing with financial
problems and its solutions.

October 25, 2010

HOW MUCH CAR CAN I AFFORD?

Smartsavvy Unless you have the “cash on hand” to purchase a new vehicle outright, you will probably be like most of us and make payments each month to your lender.

BUDGET

First and foremost calculate the total budget amount that you can pay each month.  This includes the monthly car payment, the insurance, the gas, the maintenance etc.  Even though the vehicle may be covered under warranty there will be maintenance of the vehicle such as lube-oil-filter changes, car washes etc.  Remember that there will be closing costs like a down payment, taxes, title, and license to add to the total upfront cash outlay.

Continue reading "HOW MUCH CAR CAN I AFFORD?" »

October 04, 2010

Auto Financing Road Map Paves the Way to Financial Literacy for Teens

Ad_aware When it comes to educating high school students about auto financing – a key part of the car shopping experience – teachers now have a free guide explaining the entire process, the Auto Financing Road Map, to add to their curriculum.

The guide, developed by Americans Well-informed on Auto Retailing Economics (AWARE), provides students with a greater understanding of auto financing, the options available to them and their parents, and the significant responsibility of owning a car.

“Using the example of buying a car, which is something most people can relate to, is an excellent way to teach financial literacy skills,” said AWARE spokesman Eric Hoffman. “The concepts of sound budgeting, building and maintaining a solid credit history, researching financing options, and making smart long-term financial decisions are all crucial components of being financially literate.”

Continue reading "Auto Financing Road Map Paves the Way to Financial Literacy for Teens" »

September 17, 2010

4 Smart Savvy Steps to Buying a New Car

Smartsavvy According to R L Polk, our vehicles are lasting longer and longer with the average life of 10 years.  You may have a car or truck that has been with you for that length of time, or even longer, and now you have decided you need a new vehicle and so you are starting to ask yourself the questions about that new purchase.  We thought we would provide a few steps to help get you started.

BUDGET

First and foremost calculate the amount of funds you have to spend on a vehicle. You may be paying cash but most people are making monthly payments.  So determine the total amount that you can afford.  This includes the monthly payment, the insurance, the gas, the maintenance etc.  Even though the vehicle may be covered under warranty there will be maintenance of the vehicle such as  lube-oil-filter changes, car washes etc.

Continue reading "4 Smart Savvy Steps to Buying a New Car" »

August 03, 2010

Don’t Overpay for Auto Insurance After a Ticket

Caarinsurance Women, especially us mothers, are busy little bees these days. We work, drive the kids to school, cook dinner—it never ends! So yeah, sometimes we drive a bit fast when we’re running late, but don’t worry ladies—getting a ticket won’t necessarily raise your auto insurance premium.

In fact, a single ticket may be forgiven entirely. “A single traffic ticket won’t always lead to a dramatic increase in a driver’s rate, and an insurer may excuse a driver who’s never been cited before,” said Paula Gold, VP of Plymouth Rock Assurance, a Boston-based auto insurer. 

Even if your premium does increase after a ticket, it’s usually just a modest increase. It’s when the tickets begin to pile up that the real trouble starts—especially if there’s a DUI or other major violation tossed in.

“Multiple violations raise an automatic red flag for insurance companies, and with each new infraction can come hundreds or even thousands in premium increases,” Gold said. “Insurers won’t give leniency to a driver who was driving drunk, illegally parked in a handicapped spot or has several tickets within a year’s time.”

Fortunately, there are plenty of ways for drivers to lower premiums following a ticket.

“For starters, consider increasing your deductible or bundling several policies with one provider. Also, don’t be afraid to ask for discounts—being a safe driver can help, as can having low annual mileage,” she explained. “This will not only help reverse some of the damage done by a single ticket, but it can also save a significant amount of money over the long term.”

If you’ve tried these tips and still pay too much for car insurance, compare car insurance quotes for free with InsWeb and see how much you might save even with a ticket on your record.


Joanne Helperin
Consumer Marketing Director,
Blog Editor
AskPatty.com, Inc.
www.askpatty.com
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July 09, 2010

Keep Your Car Insurance Premium Under Control

Car Insurance Car insurance premiums can be unruly.  And unless you keep your premium under control it can take over your budget in no time at all.  Pretty soon, you’re paying hundreds of dollars a year more than you should be for car insurance, and there’s no money left for the things you want. 

Follow these steps to tame your car insurance rate and keep some of that money for yourself.

Don’t have an accident.
The worst thing you can do for your rate is to have an at-fault accident.  So drive carefully.  Stay off the phone -- studies have shown that a driver using a cell phone is four times more likely to be in an accident. If you need to make a call, pull over somewhere safe.  Don’t drive aggressively -- stay calm behind the wheel and respect others. If someone is driving rude and aggressively, just let them pass and don't get caught up in it.  And don’t drive too close -- remember that the distance should be one car length per 10 Mph. Increase the distance in unfavorable conditions.

Pay your bills.

One of the worst things you can do is stop paying your insurance bill -- even if you’re getting ready to switch companies.  Missing a payment or letting your auto policy lapse puts you at risk if you have an accident and lowers your credit score.  Plus, many insurance companies use a customer's credit history or credit score to help determine their rate.  So it’s a good idea to check your credit report and make sure it’s accurate.

Look around.

Do you love your insurance company more than a few hundred dollars?  The cost of car insurance can vary by hundreds of dollars or more from one company to the next for the same coverage.  To be sure you’re getting your money’s worth, you should get at least three quotes.  It takes just a few minutes to get a quote and there’s no obligation.

Sponsored article by 21st Century Insurance.


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July 03, 2010

You Can’t Avoid Paying for Car Insurance, but You Can Avoid Paying Too Much

Unless you want to take the bus, you need car insurance.  If you’re going to drive, it’s the law in all 50 states.  But you can avoid paying too much for it.  Here are three ways you can help keep your rate low when it comes time to renew your auto coverage.

Don’t Multitask.

Let’s face it, having an accident will almost certainly cause your rate to go up.  And most accidents happen when someone is distracted.  Therefore you should avoid doing any of these extra tasks while driving.

Talking on a phone

Texting Texting

Using a GPS

Eating or drinking

Reading

Putting make up on

Combing your hair

Shaving

Smoking

Yelling at your kids

Adjusting the radio

Changing your clothes

Working on your laptop

Watch your credit.

Most insurers use a credit score to determine rates.  Like it or not, it’s legal and research has shown that drivers with good credit or a high credit score number are less likely to file a claim.  On the other side of that, drivers with low scores may be more likely to take risks and more likely to have an accident.  So pay your bills -- especially you car insurance bill.  Missing a payment or letting your auto policy lapse not only puts you at risk if you have an accident, it can lower your credit score and make it more expensive to get car insurance.
 
Carinsurance 2 Compare.

Auto insurance rates can vary by 100% or more -- for the exact same auto coverage.  And just because you’ve been with your insurance company for a long time doesn’t mean they’re going to give you a better rate.  Get at least three quotes from three different companies to be sure you’re getting your money’s worth. 

And just as rates vary, so do the features companies offer.  Look around. You may be able to get important extras like Emergency Roadside Assistance at no additional charge.

Sponsored post by 21st Century Insurance

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March 27, 2009

Reduce Your Loan Payment By Refinancing Your Automobile

Artsy_piggy_bank-annia316-201999076- If you refinance an auto loan, you can reduce your monthly car payment. Consumers refinance for a variety of reasons. The refinance of an auto loan can be a great way to either reduce your monthly car payment or accelerate the repayment period.

Auto Loan Refinance Process
The refinance process is generally the same process used in obtaining the original auto loan. The consumer may wish to start by contacting the current auto loan lender and finding out what the current used car refinance rates are. Your current lender may have reduced refinance rates since the original auto loan was taken out and have a better loan rate they can offer you. If not, you can check with a variety of sources to compare auto loan refinance rates. Most local newspapers have a local rate monitor? in the business section of the paper that is published once a week or so.

Continue reading "Reduce Your Loan Payment By Refinancing Your Automobile" »