Dealsoncars

Car loans are certainly less costly than home mortgages, student loans, or other kinds of loans. So why do so many people end up defaulting and losing their cars? Find out these hidden dangers:
Biggest Hidden Car Loan Danger: The Inherent Money Pit

Unlike home mortgages, student loans or other big-ticket loans, car loans are inherently money pits. A house can build equity; higher education can increase earning potential; even jewelry can sometimes be re-sold for as much as was paid for it. If you borrow to buy one of those things, you may eventually get a return on investment. But every single car loses significant value and keeps losing it as time goes by.

Solution: spend as little on your car as possible.

Of course, in order to spend as little as possible over the life of the vehicle, you need to get a well-made, fuel-efficient car, rather than the one with the lowest price on the windshield.

But a pickup truck, SUV, sports car, or “luxury” model is a guaranteed money-loser. Dont worry about what other people will think. Think about it: when was the last time you saw an expensive automobile and thought, “I really like and respect whoever owns that!”

The best buy? Many economists actually recommend buying a used car that’s a year or two old. That way you can actually benefit from the fact that cars only drop in value. Even a car thats just six months old may offer you a substantial savings. Just have it inspected thoroughly so you don’t lose what you’ve saved on maintenance payments.
Hidden Car Loans Danger: Dangerously High Monthly Payments

Unfortunately, most people never figure out the total cost before signing on the dotted line. They end up staying up late at night trying to figure out how to make ends meet. They live in smaller houses. They skip going out at night. They dont go on vacation.

All that sacrifice to have a brand-new SUV in the driveway!

Take a hard look at your finances, and figure out how much you can pay total each month for your car. Be sure to take into account insurance, tax, maintenance, and fuel. Usually, when people actually do calculate the total monthly cost of the car theyre considering buying, theyre amazed by how high it is.
How Much Car Debt Can You Afford?

1) Make a list of your average monthly non-car expenses, and subtract them from your earnings.

your monthly after-income-tax income

any other taxes

housing (including any fees and property taxes, and utilities)

food

health insurance or HMO

life insurance

debt payments

401 (k), IRA, or other long-term savings

short-term savings

telephone, cellular phone, cable, internet, etc.

entertainment and fun stuff (be honest!)

cost of yearly vacation(s) divided by 12

other expenses

what you can spend on a car

2) Subtract your monthly car-related expenses from the amount you have left over from your other expenses.

What you can spend on a car (from above)

Amount youre spending per month on gas (raise or lower this figure depending on whether you are getting a car with higher or lower gas mileage).
Monthly maintenance (remember: your new car wont stay new long, so maintenance will be an issue).

Monthly insurance (remember that for a new car, your insurance premiums may go up).

Tax.

Maximum monthly loan payment.

Now plug the number above into a vehicle loan rate calculator to figure out big of a car loan, and how much interest you can afford.
Final Hidden Auto Loan Danger: Unnecessarily High Rates

If you simply take the first loan the dealer offers you, you are probably paying too much. Do some comparison shopping on the internet, and bring a list of the best loans with you when you negotiate loan terms with the dealer.

Dont let the dealer cheat you by shifting the cost from the car loan to the car price to the deal on your trade-in. Make sure you get a good deal overall.

Congratulations! You now are far better prepared to stay out of an auto loan money pit than the vast majority of car buyers.

Buying a used car is quite an experience. The person who is planning to purchase a used car should have some knowledge about the cars, their value and negotiating skills to strike a deal as otherwise he or she will be taken for a ride by the used car dealers and other private car sellers. Buying a used car makes the buyer save lot of money as any car that grows older has a higher depreciation value even in a good condition. Also, the person can go for his dream car with a better performance and, safety features for a rock bottom price. Doing a little bit of research and checking with lot of car dealers will enable the purchaser buy a used car with the best deal possible.

Used cars can be bought from either car dealers or direct from the owners or from auctions made by government firms, or from police car auctions or repossessed cars can be bought from financial institutions.

It is good to buy used car from a car dealer or person who has good reputation and brand image in the automobile industry. There are many kinds of sources from which a used car can be purchased. All the avenues should be checked in order to strike the best deal. If the purchaser is very particular in getting a car of his choice, the car dealer can be informed about the required features of the car, make, model, color and willingness to pay to get a car of his choice. This will make the search easier for both the car dealer and the purchaser.

The working condition of the used car which is being purchased cannot be known just by seeing the car. It needs to be test driven to get the feel of the performance of the car on various road conditions and traffic.

The maintenance record of the used car needs to be checked thoroughly. If it is not available it can be got from the place where it is usually repaired or maintained to find any discrepancies. If the purchaser does not have enough knowledge about cars, help from a mechanic or person with sound knowledge on cars can be taken to inspect the car while purchasing a used car.

Internet is a good source of information regarding used cars and help from people who have purchased used cars can be asked for guidance on making the best deal. The best tips are that the car is not purchased on the same day of enquiry. Enough time should be taken to look around for best used cars and also negotiations will only happen if the purchaser shows interest in buying and keeping the decision open for some time.

It is not advised to ask for a monthly payment plan for buying the used car, as many dealers make up the cost and will give a very attractive plan but the buyer may end up with huge costs on purchasing the car. The interest rates they charge, the term for repaying the amount, all kinds of fees and the overall cost can all be manipulated. Hence all the details possible should be gathered and checked to find out how much it would cost at the end of the purchase.

The Spokane used car market has grown and evolved and now it is very competitive and filled with tempting offers and deals. The car prices have softened but the market remained strong. People are very attracted to the fact that by paying the same amount of money as or a new car with no accessories they can purchase a Spokane used car with everything tons of options. Buying a used car has now become a safe investment.

Now with the development of the Internet, the used car market of Northwest has grown to a larger extent, and people can browse between many cars without even leaving the house.

You can find sites that specialize in Spokane used cars with lots of offers and deals. You can find the lowest prices on these sites together with pictures and information about the cars available. After deciding upon the car that best fits your needs you can contact the site’s owners via email or telephone and discuss the deal further.

If you intend to purchase a used car you must do some verifications in order to make sure that you found a good deal indeed. Among these you should:

-Take the car on a drive test. The best thing would be, if the owner agrees, to take the car to an authorized mechanic to check if everything works fine under the hood.

-Do not go for the first offer that you find attractive. If you found a car that you like, check the prices of the car at other dealers and see how they compare to the price that you found.

-Try to find out some information about the car’s past. See if the car was ‘treated’ properly by its former owner, if it has been involved in an accident or if it was ever flooded. Its condition tells much about its past in most cases.

You can find a large number of spokane used cars because the used cars market in the northwest is continuously expanding, so if you want to find the best deals and cars try browsing the Internet. You will discover that it is the easiest way of finding the spokane used car that you need!

Buying And Selling Used Cars: How To Get The Best Deals

In the fast-paced world we live in, owning cars is an essential necessity in life. With a car, you can manage your life easier, and more efficiently.

New car buyers usually buy their car in used car dealership to save money.

Most people consider getting another used car and usually sell their first car.

Here are some tips to get you started in buying or selling used cars and in the same time, getting the best deal possible.

Used Car Buyers

The first thing you should consider when buying a used car is how much you are willing to spend. Knowing what you can and cannot afford is the first step when buying used cars. Saving money is mainly the reason why most people buy used cars. Another reason is that they want a specific model of a car but cannot afford to buy a brand new one. To get the best deals possible you should research, and research some more.

To know how much you can afford you should first figure out your monthly net income. To get the exact figures, you have to first get your total monthly gross income then, deduct all of your monthly expenses like; groceries, insurance, rent payments, mortgage, etc. the result will be your net income.

After you figure out your monthly net income, you should ask yourself:

How much am I willing to spend on a car?
How much is the down payment?
How much can I afford on monthly payments?

While calculating these three important numbers, you should also consider the cost of fuel, registration and insurance. Find out if the vehicles you are interested in are still capable of giving many a good mile to gallon of fuel ratio.

Contact your insurance company to know how much your monthly payments will be on each of the cars you are interested in. Give considerations if the vehicles have safety features like airbags, and anti lock braking system or ABS. Insurance companies usually give discounts if the car has these features.

The biggest disadvantage to buying a used car is the lack of warranty. Private sellers often do not include any warranty on the car they are selling. Another problem when you purchase a used car is the risk of buying a junk.

You may have purchased the car for a very low price but you could have bought a car that will drain your money on maintenance costs.

It is always wise to inspect the car thoroughly first before deciding to buy it. If possible, try to find out about the cars history. Get some of the cars service records for you to know a bit about the cars history.

Selling Used Cars

Selling your old car can prove difficult and time consuming. Most people who tries to sell their used car often gets tired and will just trade it in or sell it in a very low price.

Here are a few tips on selling a used car to get you the best deal possible.

Once you decide to sell your old car, the first thing you should do is set a price for it. To help you with the actual value of your old car in the market, research the cars make and model in the internet or in your local used car dealership. Ask around.

After you figure out the market value, find out how many vehicles that are similar to yours are in the market, then, increase the price of your old car just a little. This can be helpful when a buyer tries to haggle, which they often do. This gives you an allowance for haggling.

The next step would be evaluating your vehicle. List down your old cars accessories and other added expenses. This would be a good way to further increase your vehicles price.

You should also include in your list about the condition of the vehicle. The better the condition the faster it sells. You should also present you cars service records to the buyer.

A service record is a good way to know about the cars history. If your old cars service record were clean (no accidents, good maintenance) it would sell faster.