Car Insurance Tips

Wherever you live, if you want to drive a car you will need to have the correct insurance. It's absolutely breaking the law to drive without being properly protected by a car insurance policy, getting the best insurance policy to suit your requirements is vital to ensure you are adequately protected and not paying any more than you should be.

Car Insurance is normally based on a three main factors

1. The Car
2. The Driver
3. Where you live

The Type of Car Let's take a look at the car first, Most of us are happy to have any car that will get us to the shops and back reliably and in reasonable comfort with enough space to contain all the shopping that a busy family needs! Some of us like to have speedy or highly modified vehicles that are more fun to drive and tell everybody about us - a form of expression if you like. Its the latter category that is likely to have the more expensive insurance premiums. Generally, the higher the value of car the greater the insurance costs. The higher the performance of the vehicle, the more expensive the insurance will become. The more modified, the heavier the insurance. It's always worth checking what the appropriate insurance is going to be before you buy a vehicle and this way you won't find yourself in a awkward situation where you have spent your hard earned money on the car, but then can't really afford the car insurance, who has now got a red face? The Driver Now let's take a look at the driver. This is usually based on previous experience.

If you are a new or young driver you are going to have to pay higher insurance rates. If you have a bad track record and prior claims; then again you are likely to be punished for this with a more expensive premium. You should also consider any other driver you may want to insure on your car and their prior experience. This will all affect the final charge you have to pay annually. Where You Live Where you live is crucial for Insurance companies as they can assess the likelihood of any damage or theft from or of your vehicle, depending on your locality. In nutshell if you live in an inner city, the chances are that, the premium will be higher, because there is likely to be a general higher crime rate. If you live in the suburbs then the cost is likely to be less except if that particular area has social problems.

Once you get out into rural areas; in most cases, that is where you will find the cheapest insurance rates. Deciding on what Car Insurance you need There are dozens different insurers out there, offering many alternative policies. You should start by thinking what you need your policy to cover - do you want it to cover damage to your auto or just somebody else's (third party, which is the minimum you can have to be within the law), do you need an agreed value for your car or a courtesy car whilst yours is being repaired? Do you only drive a small amount so a limited mileage policy would be suitable? Is your car a classic and can it be insured as such? How much excess premium do you want to pay? This is the amount you pay when claiming before the insurance payout, the higher the excess the lower the premium. Finding the right company Once you have asked yourselves these questions (and answered them!) get in touch with a few companies and get different quotes. Don't be shy to say what quotes you already have as they may be prepared to go lower.

Take note of what advantages each policy brings you, some offer breakdown cover, or a discount in your first year, see what you prefer. A lot of research can be done online and some firms offer "online" discounts which can save you more. Always ensure that your insurance company is properly registered, its worth asking friends who they use and would recommend. Price comparison sites are also very good but I have found that you need to verify that that is the cheapest quote, don't forget they get a commission too! I recently went direct to a company who were not the cheapest on the comparison site, and they came up 10% lower than the cheapest, so how does that happen? The moral here is simply doing your own research. Although car insurance may seem highly priced, being properly covered is vital. Don't risk not having proper insurance - remember you will be committing an offense if you don't have car insurance cover.

Q:
Why does the Toyota dealership in Daytona Beach, Fla., deem it good practice to add $3,000 to $6,000 to their Prius manufacturer suggested retail price, while St. Augustine Toyota (45 miles away) quotes an MSRP with no markup? They are both in the Southeastern Toyota district. You don't suppose Daytona Beach is taking advantage of people who really want to help reduce gas consumption and planet pollution, do you?

A:
There's no conspiracy here -- just supply and demand. One dealer asks more for a vehicle because it thinks someone will pay that amount. Or, the dealer plans to start out that high and then let buyers think they got a deal because they negotiated the dealer down by $3,000 to $6,000 from the revised sticker.

Prepare for worst if you co-sign loan

Q:
My significant other is interested in refinancing her car loan, but her credit could be better. I have a very good credit history and have agreed to co-sign. Do lenders view the signers equally or is one more heavily weighted? And do both names need to be on the title?

A:
Lenders look at both applicants' credit history and make an overall decision how likely it is that one or the other will eventually repay the loan.

A word of caution: I am constantly inundated with e-mails from people who co-sign for girlfriends, boyfriends, brothers, sisters, even co-workers, and all these e-mails tell unhappy tales -- the person stopped making payments, ran off with the vehicle or otherwise left the co-signer holding the bag.

I don't care how much you love the other person or how reliable you think he or she is, don't co-sign unless you're prepared to take on the loan if the worst happens. And, yes, get your name on the title. It will make it easier to lay claim to the car if the deal goes bad.

How to Avoid Car Dealership Scams

If you're planning to purchase a vehicle, either used or new, you need to be an aware and informed consumer. While the majority of car dealers are honest and sincere suppliers, there are scams out there that could cost you big money.

To get a run-down on some of the most common auto dealership scams taking place today, keep reading.

1. VIN (Vehicle Identification Number) Etching

The dealer will offer to etch the VIN onto a window, explaining that this acts as a theft deterrent and will help you quickly identify your car. The price will be set anywhere from a few hundred dollars to a thousand.

The dealer may even offer you a discount on this service, letting you have it for just a couple hundred dollars. What you don't know was that this can be done either at a mechanic's shop for twenty to thirty dollars or at home with an inexpensive etching kit.

2. Yo-Yo Financing Scams

In this scam, the dealer encourages you to take the car home, claiming they'll take care of all the financing details. A couple of days later, the dealer will call you to say he's having trouble setting up your financing, but can set up a new financing scheme directly through his dealership.

Of course, the new financing plan will cost you more interest and you'll be dealing directly with the dealer. If you have less-than-perfect credit, arrange to have all your financing taken care of before you even step foot on a dealer's lot.

Go to your bank or lending institution for an auto financing loan or line of credit so you don't even have to deal with dealership financing. Or better yet, if affordable, pay the entire auto cost with cash.

3. Extended Warranty Plan

Most dealers will try to sell you an extended warranty plan or service contract deal, and many of those will try to tell you it's a condition of your bank's auto financing. If a dealer tries this, ask him to put it in writing so you can take it to the bank and ask them directly.

Also, remember that many cars come with manufacturer's warranties, meaning you would therefore be paying for redundant and unnecessary coverage.

4. Prep Fees and Market Adjustments

Some dealers are notorious for marking up the price of a car, from claiming market adjustments for popular vehicles to charging you to "prep" the vehicle for sale. Arm yourself with local sales data on new models in your geographical location. Try the Kelley Blue Book pricing for new cars in your area to find out what other people are actually paying, and don't be persuaded to pay more.

Clearly the purchase of an automobile is a significant expense that merits due caution and some homework to ensure you are armed with all the information needed to search and bargain wisely. Those who rush into a transaction without a careful assessment of both the vehicle and terms of the sale are at a higher risk of being taken for a ride - and not in the car!

Use a Payday Loan for Your First Car

Use a Payday Loan for Your First Car
So you are fresh out of university and you got yourself a nice job. You’re earning quite well and you are all set to live a life of your own finally. There is only one problem – you need a car that you can call your own. You probably had one during your uni days – your parents might have gotten it for you or you inherited it from your dad. The thing is, it is probably going bonkers on you. As old as it is, you probably want one that would serve you better. Am I painting a familiar picture here?
I am sure that you would want a car of your own, something a bit better than that old piece of junk you have. Then again, being relatively new on the job, you might not have had enough time to save up for something flashy and brand new. How about a used car? Maybe you can find one for relatively cheap and yet do the trick.
So you find one for several thousand pounds, maybe less. What is your next step? You are probably thinking about dealer financing or taking out a car loan from your bank. Both are feasible, of course, but what if you could get some cash to augment what you might have stashed away in a much easier manner and without too much hassle?
For some cases, a payday loan could work for you. For example, if you only need about £1,000 to £1, 500 more to purchase that car using cash, you can save a lot more than if you took up the dealer’s offer for financing. Same thing for a car loan from a conventional bank. You merely have to look for a good payday loan provider and you could get that extra money that you need to pay for your car in cash.
What do you need to take out a payday loan? First, you must be at least 18 years old. Since you are out of university, I assume that you are over this age. Next, you must have a regular source of income. If you have that job, then you are good to go. You might have to be in that job for at least several months before a payday loan provider considers you as qualified, but that should be easy enough. You’d also have to provide proof that you have that job. You simply have to compile your latest pay stubs and then show them to your payday loan provider. You also need a current bank account so that the payday loan provider can deposit the money into the account as soon as possible.
So you’ve got all of the requirements, what do you do? Just go online and fill out the application form! Once you send it in, you will merely have to wait for an hour or so – maybe several hours – to get your approval. Then, you’ll get the money in your bank account within the next day, several days at the most. Before you know it, you’ll be driving your own set of wheels!

6 Tips For Saving Fuel and Getting Better Gas Mileage

Barak Obama was all over the news recently, mocked by his opposition for saying we can conserve fuel by simply inflating our tires. Made for a great sound bite for the 24-hour news stations, but the thing is, he's right. According to experts, under-inflated tires can reduce your gas mileage anywhere from 3 to 15 percent.

So what else can you do to help lessen your gas consumption? I spoke with the experts at the NASCAR Technical Institute and Traffic.com, two groups that know a little something about fuel management. Here are their top tips for squeezing out more miles from every gallon.

1 - Check Your Tires
Tire pressure changes with changing temperatures, so it's important to check the pressure after all weather changes. An under-inflated tire not only reduces the life of the tire, but can cause your gas mileage to plummet by as much as 15 percent. (And they recommend rotating tires roughly every 5,000-10,000 miles to extend the tread life. With or without a pit crew.)

2 - Change the Air Filter
Dust and other impurities getting into the combustion chambers of your engine's cylinders results in wasted gas and weaker engine performance. Replacing a clogged filter can improve mileage by as much as 10 percent, which translates into more money in your pocket every gallon. Change the air filter every six months, more often if you live in a dusty location.

3 - Lighten Your Load
For every 100 pounds of extra weight, your mileage goes down by two percent. Take all that unnecessary junk out of the trunk, and while you're back there, check the air pressure on the spare.

4 - Check Your Spark Plugs
Spark plugs fire as many as 3 million times every 1,000 miles. That's a lot of heat and wear and tear. Dirty spark plugs cause misfiring, which wastes fuel by as much as 30 percent.

5 - Make Sure Your Cap is Tight
According to NASCAR's Tech Institute, nearly 20 percent of vehicles have gas caps that are damaged, loose or missing altogether, allowing that high-priced octane to vaporize, wasting some 147 million gallons of gas every year.

6 - Don't Be Idle
Obviously, sitting in bumper-to-bumper, stop-and-go traffic is a tremendous waste of fuel. Traffic.com recommends using the real-time traffic function available on many newer GPS systems to avoid backups and find clear routes, and updating the system's maps to find the quickest way to your destination.

Top 9 Car Finance Tips

Step 1: SET YOUR BUDGET

Set your budget and stick to it! Make a list of what you need the car to do. For example do you have a baby? Do you need a big boot? Do you have a large family or is it just for you? Do you want Diesel, Petrol or Gas etc.

Step 2: RESEARCH THOROUGHLY

Look on the internet for the various advice guides that tell you the recommended price of the car you are looking for. you can also find this sort of information in magazines. Make sure you keep an eye out for manufacturers’ recalls, and make a note of when the cam belt needs changing as this is an expensive repair that must be done when the manufacturer recommends.

If there is a problem with the cam belt it could inflict massive damage to your engine. Are the manufacturers still making the model you want? If they aren't, it could mean spare parts are hard to find and expensive.

Step 3: TALK TO FRIENDS

Talk to other car owners you see in the street, tell them you’re thinking of buy a car like theirs and ask about fuel consumption and reliability.

Step 4: COMPARE PRICES

Try not to get a car that has been driven over over 100,000 miles as they will need a little more attention and maintenance than a more modern car.

Get a local paper and see what is on offer, you will usually find that a Friday is a good time to look for used car prices. You will want to have a drive to local garages and dealers within a reasonable distance of where you live.

Step 5: THE TEST DRIVE

Always take the car for a test drive.

Make sure you test drive the car for at least 20 minutes, so you can be sure you are comfortable with it.

Take it on to a motorway or dual carriage way so you can open up fully. See how much it smokes when you use the throttle, all cars will smoke a little bit but it should not smoke after 2-3 seconds of going up through the gears, but if you get to 5th gear and it’s still smoking then you could have problems.

Before the car is moved for the test drive open the bonnet and check the engine is cold, always test drive the car from cold!

If when the car is first started it takes 2-3 turns of the key to start it could need a service and or parts changing. When you sit in it make you test all the buttons, electric windows and radio.

Step 6: THE NEGOTIATION

Always negotiate face to face, as you will see if the sales person (or owner) is trying to hide something.

Never try to negotiate over the phone, as any information given out could be denied later. Sales people will only try and bring you into the garage anyway.

Always stick to your budget.

If the car price, warrantee and finance deal is agreeable to you, say to the sales person that you want a coffee and 5 minutes alone to talk to your partner. Make sure that you are both happy with the deal. This five minute pause could save you from weeks of nagging later, or from spending thousands of pounds on a car which is not really suitable.

If you are getting a car loan from the dealer, always try and get road tax, warranties and a tank of fuel included in the finance.

Step 7: WARRANTIES

Always look at what the warranty doesn’t cover, as some warranties aren’t worth the paper they are written on.

If the warranty is a good one it should clearly state what is not covered.

Always try and get a better warranty if you are buying a second hand car from a dealer. They normally offer you the bronze warranty try and get at least silver as they normally go up to platinum. But remember that even platinum will not cover every single thing on the car.

If the dealer is confident in the car he should give you a 6 month warranty.
Again most importantly ask when the cam belt is due to be changed and try to get them to include it in the service that should be done before you pick the car up.
Also make sure if something does go wrong, the faulty part is replaced and has a new warranty.

Step 8: EVERYTHING IN WRITING

Make sure you get everything in writing.

Any work that was promised to be done will be done i.e. paintwork, dents removed, radio code and all other agreed items.

Get the service history if you can.

Step 9: GETTING THE KEYS

Most modern cars have central locking which uses an electronic key they can cost hundreds of pounds to replace. So make sure you get two keys and keep one in a safe place.