Financing Glossary
Here are the terms you are most likely to encounter when you finance a car through a bank or at a car dealership.
Buying vs Leasing
Since most people don't have the cash to buy a new car, it often comes down to a decision between leasing and buying with the help of an auto loan. Here is a quick look at the main benefits of each type of car financing.
Four-Square Basics
To help you get the best deal when you buy your next car, you should understand how the salespeople will "work the numbers" on a four-square worksheet as they negotiate. The worksheet — which covers everything from auto loan payments to trade-in price — helps the salespeople view the total profit to the dealership while reviewing the separate elements of the deal.
Understanding Your Credit Report
If you're in the market for an auto loan, one of the first things you should do is take a look at your credit report. This document provides the data that goes into calculating your credit score; your credit score, in turn, plays a huge role in determining what interest rate lenders will charge on your loan and whether you'll be able to get a loan to begin with.
Avoiding Credit Hassles at the Dealership
You fill out a credit application at a car dealership. You're led in to see the finance manager who happily announces, "Great news! I can finance you at 9.9 percent."
Car Buying and Leasing
"So, do we have a deal?" the salesman says, extending his hand.
In Demand and Over Sticker
Question: What do the Toyota Prius, the Ford Escape Hybrid and the Mini Cooper have in common?
Blast Fax Car Buying
Car buyers love to swap stories about different strategies for getting the best deal on a new car. One approach I keep hearing about is the "Blast Fax." I got a chance to use it while buying a Dodge Grand Caravan for the Edmunds.com long-term test fleet, and I found that it presents some advantages over traditional buying methods.
How to Get a Used Car Bargain Part Three
In Part One of this series we stressed the importance of deciding on your price range and arranging financing before you shop. We also told you how to identify good used cars that could be bought at bargain prices.
Negotiating 101
Pearl traders in Asia negotiate by sitting face to face, staring into each other's eyes. The buyer is trying to determine when he has reached the price at which the seller will part with his goods. The buyer names lower and lower prices until, when he reaches the right price, he sees the seller's pupils dilate.
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Inexpensive portable navigation systems and even cheaper smartphone nav applications are making the pricey in-dash systems offered by automakers less attractive to many consumers. But some people prefer in-dash systems because of their larger screens and because they offer more features. Plus, you never have to worry about forgetting an in-dash system at home. Finally, prices for in-dash systems are starting to drop.
Bluetooth is a wireless technology that allows two compatible devices to communicate. In the car, it lets you operate a mobile phone "hands-free," meaning you don't have to hold the device while making or taking a call or performing such functions as accessing the phone's address book. (Of course, you have to use your hands to operate certain Bluetooth features via the vehicle's controls.)
Automotive sound systems are more complex now that portable media players, hard-disk drives and smartphones are along for the ride. But the basic radio/speaker setup hasn't drastically changed, even though more speakers and more amplifier power have been added over the years.
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Bad Credit Car Loans
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Sales of Ford vehicles increased 13.3 percent in June compared to the same month last year, and the gain was largely spurred by a strong showing by the carmaker’s Super Duty pickup trucks.
Responsible consumers tend to have all their affairs in order – a steady income, plenty of savings and perhaps even an investment or two on the side. While these things are all positive, they ultimately won't get you approved for an auto loan – for that, you need credit.
Used Car Loans
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Getting the Best Rates on Your Car Loan
Identifying Your Target Cars & Arranging Financing
There are certain people who seem to have X-ray vision, who can look at a business and see things that are invisible to other people. I bring this up because I have a friend who spotted something about used cars that I have never heard addressed by anyone else.
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