So, you have made the decision to purchase a car. And you of course need some sort of financing in order to make it happen, especially if you are looking to buy a new car or a gentlyused one from a dealership. In such cases, most of the time, the options and advice can be endless, and overwhelming. So, knowing some of the common traps that one can fall into, and avoiding them, as well as learning tips and tricks to get the best possible car financing based on your credit score, chosen car make and model, and financing agency are essential.
For starters, be prepared. Do your research not just the vintage, make and model of the car, but also your credit history, the type and amount of loan you are likely eligible for, and which kind of financial institution makes the most sense for your need. Is it your bank, the local credit union, or perhaps an online car financing company or auto loan agency, or is going with your dealership the best? Next, be prepared to negotiate the price and terms, and work towards making the best possible deal for yourself, especially when you’re working with a dealership. A zero interest deal if offered, may actually be taking away from other savings you have to do the math and not get carried away by something. Arm yourself the car salesman and the finance manager will try to scare or entice you into choosing extras or a more expensive plan obviously that’s where the profit and additional sales lies, for them.
Stay firm, and don’t fall for high interest loans, because they will just make the worth of your purchase lower in the long run, and lead to heartache. Keep the terms short the longer your loan is for, the most you will be paying out in the long run. Sure, you pay less when you stretch the loan out for a number of years, and your auto dealer will make that seem enticing. However, it would behoove you to stick to no more than 5 years, even if they offer you up to 7 years to pay off the loan. And of course, optimal would be a 3 year span. Also, if you can manage a bigger down payment, do it. Better to stretch a little at the beginning than end up paying out so much more in interest over the years.
While buying a vehicle can be exhilarating, renting a vehicle is often more convenient and affordable. Car rentals offer flexibility to travelers and provide them with a cost-effective means of commute and travel. For such reasons, the car-rental industry in the country earned a revenue of $28.1 billion in 2021. Car renting has become an incredibly easy process, but it can be further enhanced by avoiding a few common car-renting mistakes:
Relying on the rental company to pay tolls
Although many car-rental companies have schemes through which they pay tolls for their clients, most of these companies charge anywhere up to $10 as administrative fees plus the toll amount. Thus, while driving a rented car, it is essential to close the toll transponder in the car and pay for tolls through online payment gateways or cash at the toll booth.
Pre-purchasing a full tank of gas
Often, rental companies provide clients with the option of pre-purchasing gas, i.e., getting the entire gas tank filled, so that clients need not refuel the car before they return it. However, in most cases, if the full tank is not used, clients are not paid for the residual fuel. A cost-saving strategy is to avoid pre-purchasing gas and refueling the car before returning it.
Buying rental insurance without checking one’s credit card
Most car rental companies offer rental car insurance to their clients for financial reimbursement of any damages. But this rental car insurance can often cost the driver anywhere up to $25 per day, which is quite expensive. Individuals whose auto insurance covers rental cars need not take any further steps to get insured. The good news is that even those without auto insurance do not have to buy rental car insurance if their credit cards offer insurance on car rentals. Many credit card companies provide such insurance at no additional charges. Hence, before renting a car, it is a good idea to check out if one’s credit card offers such benefits. One must also contact the credit card company to understand what aspects are covered in the policy. Temporary car insurance is the next best alternative.
Not knowing about higher fees charged from young drivers
Rental car companies typically levy exorbitant daily fees for young drivers renting their cars. This increased amount is owing to the driver’s inexperience. A cost-effective solution is to refrain from driving if one is below 21 years of age. Instead, renters may look for family members or friends who are over the age of 21, are licensed drivers, and are willing to accompany them to the destination.
Not checking the car thoroughly before the journey
An essential step before starting one’s journey on a rented car is to check the car thoroughly, inspecting it for any existing damages. Further, clients must take pictures of any such damages and report them promptly to the company to avoid being charged for the same. The car’s vehicle identification number (VIN) can also provide information on the car and model, helping individuals ensure that they have been provided with the model they had paid for, equipped with all the features.
Failing to refuel the car before returning it
Returning a rented car with a half-filled or empty tank can warrant extra charges, which are higher than the expenses one would incur for refueling the car. Hence, it is essential to return the car with a full tank to avoid such penalties.
Not checking discount codes
Another common car-renting mistake is to forget checking out the available discount codes. Discount codes available for specific car-rental companies can help clients save considerable amounts on their rents. Individuals who are members of specific organizations, such as AAA, can also avail of discounts on car rentals.
Driving on unpaved roads
Most car rental companies expect their clients to drive only on properly paved roads. This is because the risk of meeting with accidents is higher on unpaved paths. Moreover, car rental and auto insurance policies typically do not reimburse policyholders who have suffered injuries or incurred damages while driving on unpaved roads. It is always better to stick to the conventional route when driving a rented car.
Renting a car at an airport terminal
Surcharges apply for renting cars at airport terminals. Most rental companies pay these additional charges to the airport and demand the amount from their clients. Hence, clients cannot get away from paying these surcharges if they rent cars at airport terminals. However, the most cost-saving alternative is to rent a car outside the airport, using the airport’s shuttle service to commute within the premises.
Not adhering to parking regulations
Parking at a “No Parking” zone or breaking other basic parking regulations can cause one to incur hefty fines. It is best to understand the parking regulations in the destination city or town to which one is headed and follow traffic and parking signs along the way.
Failing to return the car on time
Car-rental companies levy delay charges for returning the car late unless the driver has a genuine reason and the delay was not in the client’s control. It is best to avoid meandering from the original plan and returning the car immediately upon completing one’s journey.
A good car deserves the right care. Tires are the most critical components of your car. So it is important that you get the best tires for your vehicle. Here are some ideas that will help you to buy tires from Pep Boys. You can choose to install two or four new tires from an auto repair store like Pep Boys. It is always recommended that you change all four tires at the same time. This helps to maintain the balance of a car and its tires. However, you can also look at replacing two tires if you can’t afford to replace all four at once.
Changing all the four tires is important because it ensures that the construction and tread design of all tires are the same. This also means that the depth of tread and the types of tires are the same. When the features of all four tires in your car are the same, it means that the tires react to the road and driving conditions in the same way. This maintains the safety, balance, and reliability of the vehicle. Changing all four tires from branded auto service stores like Pep Boys also results in enhanced stability and better handling of the vehicle.
Most of the times, all of the tires tend to require a change at the same time as they are likely to wear out at the same time. However, if the tires are not changed regularly, especially when it comes to a car that has a front-wheel drive, then both the tires in the front are likely to wear out after the ones at the rear.
If you are not looking at changing all the four tires, you can consider only changing two of them. Let us look at some basic recommendations that you need to consider in such a case. Firstly, it is important to ensure that the size and construction of the old and new tires are as similar as possible. Additionally, it is important to align the tire types.
Secondly, it is important to ensure that when you change a tire, the parallel one must change as well. It is important to change at least two tires to ensure they are aligned. When you get these two tires, they should be installed on the rear axle. This way the new tires are able to balance the vehicle better.
Lastly, in case you replace only one tire, then you can choose one of the older tires, which has a deep tread. Then, you should install this old tire alongside the newer tire. Note that this should be on the rear axle of the car.
What happens when you want to install two new tires at an auto service store like Pep Boys? In such a case, the tires should be installed on the rear axle. When you buy brand new tires, they tend to have deeper grooves. With the help of that, new tires are able to create better traction. They are also able to provide hydroplaning resistance. When we place fresh tires on the rear axle, it results in better control of the vehicle. This means you are able to enjoy a good drive and stay safe. In fact, placing two new tires on the rear axle works because even if the tires in front are worn out, you have enhanced control of the car. On the contrary, in case you place fresh tires on the axle located in front, the vehicle could lose its grip. This can get particularly tricky on wet roads. If that happens, there is a likelihood that the rear side of the vehicle could swing. In worse cases, it can also go out of control.
There are a lot of things that should be considered when you want to buy tires from stores like Pep Boys. Make sure that the tires are from a reliable source. In case you are buying tires from a lesser known manufacturer, you need to understand the specifications for those manufacturers.