Monthly Archives: November 2017

Can I get Credit from Ford Car Dealerships?

Getting credit from a Ford dealership will depend  very simply on the creditworthiness of the individual, and whether or not afford credit determines that they will then the individual money and if so on what terms and conditions.

Getting credit finance to buy or lease a car is in theory quite a simple and straightforward process, but the reality of getting a loan will not and how much you pay for it can also be quite laborious.

A Ford car dealership will normally be in a position where they can invite applications from potential customers for pre-approval of credit or finance, that will normally be arranged with Ford credit which is the finance arm of Ford itself.

These types of arrangement will normally be done on a strictly commercial basis, and loans agreed or not as would likely happen with another lending institution such as a bank or a credit union. It is always a good idea in obtaining credit or financial any personal loan to obtain quotes from a few different sources, in order to be able to compare them on a like-for-like basis.

Credit from Ford Car Dealerships

Someone who is deemed to have bad credit poor credit is often reluctant to approach a Ford dealership finance as they assume that there will either not be accepted, or if they are it will be on unfavourable terms and conditions.

Often people would be well advised to approach a Ford dealer  who is likely to have significant experience of obtaining finance and credit, and may well be in a position to help individual secure some time secured loan on their vehicles.

It should be remembered that it is in the dealership’s interest to help you obtain finance, but it is not in their interest or yours for them to help you obtain finance a cannot afford. It should always therefore be open and transparent about what the Ford dealership is doing and not doing and who they are approaching in order to try and arrange credit or finance for a vehicle.

Ultimately the question of an individual being able to obtain credit from a Ford car dealership  depends on their credit score, and as such it is normally a good idea for the individual to obtain a copy of their credit report prior to obtaining quotations from Ford credit or anyone else, and making sure that the credit report is accurate and up-to-date, which will allow for a accurate credit score to be reflected  based upon it.

What is Ford Motor Credit

Ford Motor credit is simply another name to refer to Ford credit, which is the dealership arranged financing arm of Ford motor company.

Ford as a company will offer the option to potential customers of helping to arrange the finance for anyone wanting to buy a new or used vehicle through a Ford dealership, or to arrange a lease agreement with Ford for one of their vehicles or trucks.

From a customer point of view, it is often easier, or at least that is completed to arrange the finance at the same time as buying the single vehicle itself. There are obvious implications in terms of ease of arrangement and usage, but this also needs to be handled quite sensitively in order to maximise the negotiating position of the potential customer.

There are many elements to be involved in the process of buying or leasing a vehicle, and there are many separate issues can be negotiated regarding the financing. From a customer’s point of view it is a good idea to approach Ford Motor Credit on the basis that they would approach any lender such as a bank or a credit union, and be able to negotiate the best possible financing arrangement.

Ford Motor Credit

The whole process of buying or leasing a car can be quite an involved one, and it is a good idea or the customer to break the process down into a number of stages of steps that they can then go through before arriving at a satisfactory conclusion.

The first that for many people is to either decide which vehicle they want to buy, or to decide how much they can afford to borrow. Both to an extent can go hand-in-hand, with the amount that they can in theory borrow providing a decision about whether to buy a new or used vehicle or whether or not to lease one.

It is a good idea when considering any type of loan, whether secured or unsecured, to approach a number of different lenders and to be able to compare quotations on a like-for-like basis. This means that if and when approaching Ford Motor Credit the customer is in a position to be able to negotiate with the Ford dealership on a number of areas of the finance arrangement.

These normally include the size of the down payment, the interest rate and the length of the loan period. There may well be additional areas to negotiate such as vehicle protection options such as vehicle service contracts and servicing and maintenance contracts as well as different types of warranties or roadside assistance programs.

These can be additional to the overall cost of the vehicle and any additional costs such as local or national taxes or dealership fees.

 

What is a Ford Credit Account Manager?

People looking for a Ford credit account manager will inevitably be people who have taken some type of loan agreement, or lease arrangement with Ford Credit, normally through a Ford dealership.

This may have been done prior to arranging credit in order to gain pre-approval through the Ford Credit website, or may have been done once the sale or lease agreement has been completed.

The process of arranging dealer financing is meant to be a fairly streamlined and thorough one, that gives the customer a sense of being able to both arranged finance and buy or lease a car with the two processes being joined as one.

This obviously has numerous advantages for both sides if it can work correctly, and is negotiated properly on both sides. It is important however to understand the mechanics of Ford credit as they relate to dealership financing, as I can sometimes be a degree of confusion or mismanagement once the sale or lease agreement has been completed.

Ford Credit Account Manager

Anyone approaching Ford credit either through their dedicated website, or through a dealership, will need to go through the same credit rating approval process as anyone else would do with a standard application for credit to a bank or a credit union.

Ford credit will refer to one of the main credit rating bureaus to process the credit score, and on that basis Ford Credit will be in a position to decide whether or not to offer finance to the individual, and if so on what terms and conditions.

If the offer of credit is made and accepted, then the sale or lease agreement can go ahead and be concluded.

After that has been done, there should be put in place a support system either through the gears up or through for credit where a Ford credit account manager would effectively be in place to help the customer with any queries or problems that might arise once the sale or lease agreement has gone through.

What is unlikely to happen is that the customer will be given a dedicated account manager. It is more likely that for credit will offer a range of support options through telephone to email to written help. Any subsequent approach to Ford by a customer will be dealt with by one of the individuals in that team who will effectively be referred to as a Ford credit account manager.

What is Ford Finance?

Ford Finance is more commonly referred to as Ford Credit relates simply to the credit arm of Ford who can offer finance to potential customers in order to help them buy or lease a new or used Ford car or truck.

Ford finance will typically be offered either through the Ford credit website, or through any recognised Ford dealership.  Any finance on a Ford vehicle that is arranged independently Ford through a bank or a credit union could sometimes be referred to as Ford finance, in that it is simply relating to finance arranged on a Ford vehicle.

Ford finance is a common way for most people to look at negotiating the cost of buying or leasing their vehicle. A few people will buy a car with cash, but the majority will look to some type of finance or credit to fund the sale. What is important in this regard is budgeting.

Whether agreeing a loan with Ford finance  or some other lending institution, it is really important to have a good grasp of how much you can afford to pay, as well as what type of Ford car or truck you want to buy.

Ford Finance

Whilst this might sound obvious, it is very easy to get swept away the excitement of buying a new car, or a relatively new car, and convince yourself you can afford it when in fact you can’t.

A really thorough and honest appraisal of your budget will allow you to know both what you can afford to repay on a monthly basis, and also what the overall cost of the loan would be over  any time period of any loan agreement.

Knowing how much you can afford actually gives you a much greater freedom. This can be reflected by sometimes deferring purchasing the car for a short while asked to build up a larger down payment which would produce how much you have to borrow for car.

Sometimes buying a less expensive model even in the short term can work with a view to trading it in for a bigger one in a year or so’s time. The option of leasing a car or truck should also be looked at, as although it does not give you title to the vehicle, it does at least allow you to have to feel, the look and feel of a new car at a significantly reduced cost as relative to buying it right.

The other option can be to reduce numbers of features or options you may want on the car which can sometimes build up into quite basic and additional burden on the cost,  and the overall final fixed sale price.

How do I Contact Ford Credit Customer Service?

Ford Credit Customer Service will be an area of Ford that anyone who has bought or leased a vehicle may need to contact and deal with, normally once the sale or lease agreement has gone through.

Often dealings with the customer service unit relate to problems regarding payment, although it can also relate to other potential problems concerning vehicle protection plans or servicing and maintenance plans.

The should not put people off, as it is fairly normal for issues to arise once a sale or lease agreement has been put in place. Problems can sometimes occur depending upon how helpful the dealership is from which you bought or leased the vehicle.

One of the best ways of having to avoid using Ford credit customer service in the first place is to be aware of potential problems that may occur prior to buying the car, and making sure they are fixed for any sale or lease agreement is put into place.

Ford Credit Customer Service

Obviously if you are buying a used or second-hand car, there is more of a risk in terms of mechanical reliability and general dependency than if you were buying or leasing a new one. In this event it is a really good idea to have as strong warranty as possible, and also to have the vehicle independently checked by a third-party mechanic or company specialising in this type of work who can evaluate the state of the vehicle, confirm its mileage, and generally advise you that as far as can be told it is in the condition it is stated to be.

If buying a new car, then it is important to be aware of the various elements of negotiating the sale or lease agreement of the vehicle, and as far as possible confirming them with the dealership before signing any final contract. This is simply because prior to sale, you as a customer had the upper hand and any dealership is likely to be significantly more helpful prior to a deal than afterwards.

The best way to contact Ford Credit customer service is through their website, where there will be contact details such as telephone numbers, email and written address. It is worth remembering that once the Ford credit loan has been agreed it may effectively be sold off to a third party who will manage it on  behalf of Ford Credit. In this event, issues relating to the practicalities of managing alone will need to be addressed to the company who has taken the loan from Ford, rather than with Ford credit itself.

What is a Ford Motor Credit Payoff?

People will often look to pay off a loan early, quite often referred to as a Ford Motor credit pay off, or at least look at some way of reducing the cost of their loan, or how much they paid for a lease agreement.

Whilst this can often be a good way of saving money they can be additional costs involved should be taken into account when making any decision to pay off  an early loan. Much of it depends on how the loan is structured in the first place.

Most auto loans whether done through Ford Motor credit or another type of financing institution on what are known as secured loans. This means that they are secured and structured against the value of the vehicle involved in the loan agreement.

Most loans of this type will be structured by way of a fixed loan period, often anywhere between 24 and 60 months, sometimes longer. There will be a fix interest rate for the period of the loan allowing for fixed repayment costs which makes it easier to deal with for both sides of the loan agreement.

Ford Motor Credit Payoff?

Some of these loans will also include some type of penalty clause if they pay back the early. The reason for this is simply that these types of loans are structured so that the interest rates and the amount of interest charged throughout out over the whole period of the loan.

Ford 0 financing is one of many incentives that full operate as a way of inducing customers to buy or lease a new or used Ford vehicle. It may be used either as a national approach to sales or by selected local dealers.

If the loan were only two have been for a much shorter period in the first place a much higher interest rate would have been charged. Any penalty charge there might be will look to give the lender a much higher return than they would otherwise have.

Before paying off any Ford motor credit loan, it is really important to know if there is a penalty clause of any type and if so how much it would be. It is also possible that a penalty clause apply for a certain period of time once alone has been taken out, and therefore it may sometimes be worth waiting until that period is finished before paying off the loan if you are in a position to do so.

The other thing to check is whether paying off a Ford motor credit line would affect any of the vehicle protection plans or any other benefit that you may have had when buying a car or truck. Sometimes pay off a loan will effectively terminate any special arrangements may have been put in place at the same time as the loan as part of a package deal.

That again something worth checking into paperwork relating to the deal, and if necessary going back to the original dealership and checking with them.

It should also be remembered that a Ford motor credit pay off may also relate to the idea of refinancing the vehicle, which is a completely different issue and can effectively be done only on the loan if necessary, as the new lender will structure their leading to take account of paying off the original loan.

How do I get Ford 0 Financing?

Ford 0 financing is one of many incentives that full operate as a way of inducing customers to buy or lease a new or used Ford vehicle. It may be used either as a national approach to sales or by selected local dealers.

It may also be offered at certain times of the year such as Christmas or Black Friday, or on certain models. It may also be offered as a way of trying to get customers to be pre-approved for credit by the Ford website, and may be offered on certain selected pre-approved models. The one thing that most of the ads offering the inducement won’t mention is that it will only be offered to customers with an exceptionally high or good credit score.

All inducements including Ford 0 financing are certainly well worth exploring, and may well end up saving you money if you qualify and can take advantage of them. However it is always well worth being aware that any offer or inducement is only as good in terms of finance as the final sale price of the vehicle.

Whilst Ford 0 Fnancing might be offered to someone and can make a sale look more attractive, if the dealer refuses to certification on price than the buyer could end up in a worse financial position because they are actually paying more for the car even with a low or zero interest rate.

Ford 0 Financing

Rather than simply going by one particular inducement or offer,  it is a good idea to look at the total cost of financing the vehicle, and look at the various component parts that make up the overall cost. Some people will go by simply how much they would pay on a monthly basis, and other people will go by the total overall cost of the sale or lease agreement.

For some people, simply going by how much you pay or repay of a monthly basis makes sense as it allows them to fit the payments into the context of their normal budget. The only danger with this approach is that you lose sight of the overall cost of the loan.

If the overall cost turns out to be significantly more than the worth of the vehicle, allowing for appreciation of the car or truck  over time, then the car goes into negative equity which could potentially be a problem for the owner.

Whilst Ford 0 financing can certainly be a very attractive offer, any potential customer should always remember that many other components of the financing such as monthly repayments and length of term of the loan, as well has many areas of the sale itself that can be negotiated an end up reducing costs. These areas can relate not only to the list price of the vehicle but also to numerous vehicle protection plans relating to the servicing and maintenance that can affect the long-term running of the vehicle.

Dangers of Takata Airbags

Nearly two-thirds of the U.S. vehicles containing defective air bag inflators made by Takata Corp. remain unrepaired as automakers have made varying degrees of progress addressing the largest auto recall in U.S. history.

As of mid-September, 20 million vehicles containing defective Takata air bag inflators still haven’t been fixed, 64 percent of the 31.5 million vehicles containing the defective parts, according to a progress report released Friday by John Buretta, the independent monitor overseeing the recalls and a former U.S. prosecutor.

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Which SUV ? Problems, Problems, Problems ……..

Fifty grand only buys you the most basic Discovery Sport, though.

It’s listing at $46,222, including freight and destination but not including taxes.

So there’s no room for any of those extras that most people opt for, such as heated seats, keyless entry and a third row. Just as long as Eric knows before he starts ticking boxes and signing forms. All this tempting stuff that you’re told will cost less than a coffee a day adds up quickly.

But you have to admit the Discovery Sport is a contender.

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How Does Toyota Financial Work?

Toyota Financial, sometimes referred to as Toyota Financial Services, is the auto finance arm of Toyota, and helps arrange credit and finance for customers looking to buy or lease any type of Toyota car, truck or hybrid.

It is not quite the chicken or egg question, but it is important to decide whether or not to focus on the car or the money first.

Some people will decide what type of Toyota car they want first, and then decide how to pay for it and whether or not to buy a new car, to lease one or buy a used pre-approved Toyota vehicle. Other people will decide how much they can afford to borrow first, and then decide which type of car they want to buy.

Either approach is okay, so long as the individual is careful about their budgeting and is realistic about how much they can afford to borrow and repay and what type of vehicle that will buy them.

Toyota Financial Costs – Sales and Leasing

The costs involved in buying any type of Toyota car or truck need to be identified and carefully itemised. Initially there is what is known as the list price of the vehicle, often referred to as the MSRP.

This is normally the price that the dealer will advertise the car at, and the customer should be able to negotiate a fairly hefty discount of this price. In addition, there are likely to be the charges such as a local or national sales tax, some type of registration or title fee charge, and what are known as documentation fees.

Documentation fees sometimes referred to as doc fees basically refer to the paperwork involved in the whole transaction of selling a car, but can often be used by a dealer to include significant costs that can compensate for any money as they are losing through negotiation on other areas of the sale.

What is important, is that these charges are flagged up during the sales process so they are transparent and clear as to what they are and what they relate to. The whole negotiation process is best on the possible either over the phone or by email, with the final transactions being completed in the showroom if necessary.

This gives the customer much greater control over the whole sales process as they can simply walk away if they do not like it and go to another dealership.

Toyota Financial – Leasing

For many people there will be significant benefits in releasing a new car or truck as opposed to buying one or buying a used Toyota vehicle.

Leasing a Toyota car or truck should be thought of essentially as a long-term rental, in the sense that the customer does not actually own the title to the car, that stays with Toyota, but they have effective use of it certain to subject conditions for the length of time of the lease contract.

The main attraction for many people is that they are therefore able to have use of a new car at a significantly reduced cost compared to what it would cost them to buy it outright. There are also significant advances by way of having a manufacturer’s warranty, and the reliability that comes with that.

There are also likely to be advantages by way of various vehicle protection plans and servicing and maintenance contracts.

A lease agreement will be subject to the same credit checks and arrangement as if you were buying a car, there will be a lease contract for a specified period of time, but often between 24 and 60 months, there will be a fixed monthly payment cost, a fixed mileage either per annum or for the overall period of the lease and most significantly what are known as lease end costs.

Lease End Costs

Lease end costs are often the most contentious part of any lease agreement. They basically relate to charges made at the end of the lease period that relate specifically to excessive wear and tear in the vehicle, and any external damage repairs that need doing to the Toyota car or truck itself.

What constitutes excessive wear and tear can sometimes be a bit of a grey area, but any lease agreement should specify exactly what the areas of that need to be checked and how they will be assessed.

In addition any excess mileage that has not been bought to lease period will also be charged at a rate that should be specified in the lease agreement itself. If you weeks or months before the lease expires the customer should be notified of the need for a lease end assessment, where the charges can be worked out and verified.

The customer will be given the option of having any repairs or work needed done by themselves, prior to the lease finishing, or letting Toyota to the work and charging the customer accordingly. There is also likely to be the option of purchasing vehicle outright at a significantly reduced cost, and if this option is taken up then lease and costs will be adjusted accordingly.

Toyota Financial – Vehicle Protection

The need for various types of vehicle protection plans come with any type of sale or lease of any Toyota vehicle, car truck or SUV. The specifics of these plans will depend on the type of vehicle sold or leased, in addition to what options any customer chooses to take out as well.

There are a number of vehicle service contracts and servicing and maintenance contracts can be looked at, and some of these can be negotiated at the time of the sale or lease agreement. That may also be some type of incentive by way of a prepaid option for servicing and maintenance.

There is also likely to be a possibility of a manufacturer’s warranty, possibly a dealership warranty and possibly an extended warranty depending upon the age and condition of the vehicle. There may also be the option of purchasing some type of roadside assistance or emergency transportation cover.

Customers should be aware that this type of plan can also be included in various  auto insurance policies and should therefore be avoided in order  not to duplicate cover.

Toyota Financial – Insurance

Anyone buying or leasing a Toyota car or truck will be aware of the need for some type of auto liability insurance, depending upon where you live and what are the legal requirements are, and also what the legal requirements maybe if you buy out-of-state, and need additional insurance coverage.

In addition to any legal requirements, the Toyota dealership is likely to require you to to take out additional insurance cover, which may include some type of comprehensive and/or collision insurance, and some type of gap insurance as well.

Gap insurance  is designed to pay the difference between the final sale price of the vehicle, and its insurance value in the event of a total loss or write-off. In such an event, its value would be assessed by  the insurance company as to its market value, which is likely to be significantly less than its final sale price.

This would lead to a potentially significant amount of money which would remain as an unsecured debt to the customer which they would need to pay off.  This type of insurance policy is designed to cover that potential debt and is likely will be a condition of sale or lease agreement. The cost of its however is normally negotiable. There will also be additional insurance requirements if commercial finance or credit is involved

Toyota Financial – Credit rating

Any agreement with Toyota Financial, whether to buy or lease any vehicle will depend upon the credit score of the individual.

To that end, it is well worth the customer getting hold of a copy of their credit report and making sure that the information contained in it is accurate and up-to-date.

The credit report will be used as a basis for creating a credit score and the subsequent decision by Toyota Financial whether or not to lend you money, and if so on what terms and conditions.

Prior to any final negotiation, it is always a really good idea to get at least two or three different financial quotations from different financial institutions such as a bank or a credit union. These can then be used as a basis for comparing all quotations, and cash be taken that they are all able to be compared on a like-for-like basis. Even if you consider yourself to have bad credit or poor credit, it is still worth applying.

Commercial Finance

Anyone looking for some type of commercial finance will find Toyota Financial fully focused on providing help and assistance were possible.

The process of applying for credit, and for negotiating final sale price of any vehicles involved will be the same as for an individual customer, merely a difference of scale.

The one essential difference will be in the credit application, where significant in more information is likely to be required but individual applying for credit, details of their company or business, possibly details of their family and work colleagues as well as a more detailed credit history disclosure.

Toyota Financial Account – Finance Tools

Many Toyota customers open an account with Toyota Financial as a way of applying for pre-approval for credit, and also as a way of being able to buy pre-approved cars.

Once an account has been opened, it gives the customer access to a number of financial tools that can be really helpful. The most obvious one is an on-line calculator that allows them to realistically work out their budgetary requirements and constraints, and assess how much they realistically can afford to repay on any loan agreement.

In addition, they should be able to download copies of manuals and other technical information relating to the car or truck they have bought or leased. Many customers also use their Toyota account as a way of overseeing and managing payment for the vehicle, as well as being able to contact Toyota in the event of any problems, either regarding payment or any other issue regarding the sale or lease agreement once completed.

Incentives – Loyalty Offers

Incentives and loyalty offers are standard practice in the industry, and can offer significant savings if negotiated wisely. There is always the danger that they can also blur any real savings, and it should always be remembered that any discount is only as good as the actual figure it is discounting the first place.

Toyota Financial are likely to offer a number of incentives. These can be  by way of both national and local offers. Often these offers are aimed at people who are currently serving them have served in the military, college graduates and sometimes people still at college.

In addition, there are likely to be offers on specific vehicles at specific times of year as a way of moving inventory, and certain finance deals normally offering a low or zero rate of interest on certain models. These finance deals will normally be restricted to people who have a very good or excellent credit rating.

Toyota Financial – Refinance Loan

Refinancing a car loan can be done at pretty much any period of the loan, and can be done for a variety of reasons.

Many people will look to refinance as a way of reducing their monthly payment, possibly to allow a cosigner to remove themselves from the loan, and sometimes to increase their monthly payments if they want pay off the loan early.

Depending upon how the loan is structured, the majority of repayment costs in the first year 18 months of the loan will relate largely to interest payments, and therefore refinancing loan can often generate significant savings depending upon the terms and conditions of the original credit agreement.

Vehicles – Reviews TBA

Toyota Yaris

Toyota Yaris iA

Toyota Corolla

Toyota Corolla iM

Toyota Camry

Toyota Avalon

Toyota B6

Toyota Sienna

Toyota Tacoma

Toyota Tundra

Toyota C-HR

Toyota RAV4

Toyota Highlander

Toyota 4Runner

Toyota Sequoia

Toyota Landcruiser

Toyota Camry Hybrid

Toyota Avalon Hybrid

Toyota RAV4 Hybrid

Toyota Highlander Hybrid

Toyota Prius Prime

Toyota Prius

Toyota Prius c

Toyota Prius v

Toyota Mirai

 

 

 

Kia Nero Hybrid – Stunningly Nice Car

I tested the Niro EX in a practical gunmetal gray. At 171.5-inches long, the vehicle is a true compact SUV.

I loved its size because it gave the car a very European feel;

I didn’t feel cramped while I was driving it but enjoyed being in a smaller car than the giant monstrosities you see on the road today.

There aren’t any features that make this car stand out from an aesthetic perspective, but I like that — it’s not obnoxious or ugly. The grille and elongated headlights help jazz it up so the Kia isn’t totally dull, but overall this is a car for minimalists.

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Can You Get A Personal Loan To Buy A Car?

Anyone buying a car is likely to use some type of personal loan, or a mix of cash and  credit.

Personal loans can be what are known as either secured loans or unsecured loans, and when thinking of buying a car or a truck can be done directly with the manufacturers dealership, such as Ford, Nissan, General Motors etc, or with another institution such as a bank or a credit union. A secured loan is more normal when buying a car or truck, or any type of motor vehicle.

A secured loan means that the loan is based against the value of the car that it is being lent against. This means that in the event of the person taking out the loan defaulting on it or not being able to pay it back the car becomes the property of  whoever lent the money and they can sell it in order to try and  get their money back.

An unsecured loan is more common from banks and credit unions, and can be for any purpose at all subject to the approval of the lender. An unsecured loan does not have any collateral against it, and as such is likely to have a higher rate of interest than an unsecured loan, and generally less favourable terms and conditions such as the size of the down payment or the length of time of the loan period.

A personal loan that is taken out with someone such as Ford Credit or GM financial is for many people the most normal and straightforward way to borrow money to buy a new or used car, but as with all types of personal loans there are other options available, some long-term some short-term, some better than others !

Personal Loans and Payday Loans

Payday loans have a pretty bad reputation largely because of their huge interest rates, and are unlikely to be used when buying a type of car or motor-vehicle.

However some may consider them if they fall short during a particular month and had problems with your other commitments for their monthly repayment on a car loan. Payday loans market themselves as being a short-term solution to help bridge some temporary funding problems.

Whilst this may be true one sense, they can be hugely expensive to manage and should only be used as an absolute last resort. There are normally other options available including the option of refinancing the original loan should export first.

Personal Loans and Bad Credit Loans

Bad credit loans can be a real problem for a lot of people looking to buy or use any car or truck. People who have a bad credit history not only find it more difficult to obtain any type of credit or loans, but also more open to be exploited by people offering what may seem to be easy solutions.

The whole idea of bad credit is one that plays into the hands of people looking for some type of financial help us at the same time feeling grateful for any type of loan or credit offered however poor the terms and conditions may be.

The real solution is to really examine the nature of your credit report credit history, and take a longer-term view to re-establish a good credit reputation and manage credit for much more effective and beneficial way.

Personal loans and On-line Loans

The growth of the Internet has spawned a whole range of on-line loan companies and businesses, many of them offering supposedly cheap and easy solutions to anyone looking to arrange finance to buy a car or truck with a personal loan.

The problem with a number of these websites is very exactly who you are dealing with. If the website is a front for a legitimate bank or credit union than there should be no problems.

If it is a purely on-line company that can be trickier as they will our a considerable amount of personal and financial information from you in the first place by way of application, and  in the event the application is successful, there may be problems further down the line in terms of contacting them and dealing directly with any personnell.

Personal Loans and Small Loans

Small loans may seem small at the time, but can quickly go if they are potentially payday loans is referred to above, where the interest on explode very quickly and turns what looks like a fairly small loan or advance in something actually quite huge. When considering a personal loan to buy a car or truck try and stick to auto dealerships such as Ford and General Motors,  or the more traditional routes such as a bank or a credit union. If emergency cash is needed by and use a credit card if possible, or some other type of temporary bridging facility.

Personal Loans and Quick Loans

Personal loans that are advertised as quick loans often come under the same banner as small loans and payday loans.

The indication in the very name quick loans is that there will be an easy and quick decision made, can often appealing to people who have a bad credit history or who fear a lengthy investigation that finances prior to being able to borrow any money.

Any reputable leader be it Ford Credit or General Motors is likely to consider an application form reasonably quickly as it is no interests to come to a decision and let you know what that decision is. Anyone advertising an incredibly quick loan may do it quicker, but odds are they are likely to charge a much higher rate of interest or impose much less favourable terms and conditions.

No Credit Check Loans

Any loan provider seeking to entice custom by way of making a point that they do not carry out a credit check either has money to give away (which is unlikely !)  or is in some way looking to attract people who are vulnerable because they have a poor bad credit history and believe that any credit check will simply stop them being able to have a personal loan.

Anyone with a poor credit history or bad credit looking to obtain a personal loan would do well to investigate their own credit report first, and do what they can to improve their credit score and then shop around.

Even someone with bad credit may well contain some type of personal loan from a  reputable financial institution, even if the rate of interest is higher than it would be otherwise. In the long term this is likely to be a much more beneficial solution financially.

Personal Loans Low Interest Loans

Low interest loans obviously have an attraction, just be aware that there are normally other terms and conditions which will compensate for a lower rate of interest than would otherwise be the case.

Sometimes low interest loans are aimed at people who have an exceptionally high credit score, and are deemed a very good risk to lend money to. At other times, low-interest loans are affected subsidised by acquiring a much higher down payment, or a significantly longer period of a loan term.

The thing to watch for these type of loans is whether there is any penalty charge that may be incurred if the loan is paid off early, which can often be significant in terms of additional charges.

 

What Are Bad Credit Car Loans?

The idea of bad credit is something that can affect many people – knowing what it is and how to fix it can make a real difference when buying or leasing a car.

Key to understanding what bad credit means is understanding the idea of a credit report, and how that credit report generates a credit score that is then used as a guide by car manufacturers such as Ford Credit, GM Financial as to whether or not to lend you money and if so on what terms and conditions.

A credit score is essentially a number between a fixed range of two other numbers that gives a guide as to the credit rating agencies opinion about your creditworthiness. From this stands the notion of good and bad credit.

This idea of good and bad credit is to some extent true, but that is often a lot of flexibility in the system that means the numeric idea behind it should not be seen as too rigid.

Bad Credit – FICO Sore and Vantage Score

Fico is perhaps the most well-known scoring system, the other one that is also widely used is the vantage score.

Both systems use a scoring range of between 300 and 850, with the ratings system adjusted accordingly, implying that a score  that is bottom to mid of this range is poor or bad credit, whilst a score ranging from the middle of the range to the top is a good or excellent score.

Naturally people look to the scoring system as almost an exact science, and whilst it’s understandable it can also be used to literally.

Whilst the scoring system is used to determine creditworthiness, a lender will often take other factors into account on the individual situation, and will also base their decision differently depending upon what the money is to be used for, and whether or not the loan is a personal secured loan or an unsecured loan.

In reality, there is also quite a lot of negotiating that can be done around the idea of a car loan, given the different components of a down payment and length of term of the loan, and options such as having a cosigner guarantee the loan.

Bad Credit – What Impacts a Credit Score

The main credit bureaus will have slightly different assessments of how to generate a credit score, and different lenders will use a credit score and relating information differently. However, there are a number of factors that affect a credit score.

Wells Fargo have given the following formula as a guide, and it is useful as such. According to them 35% of your score is based on your payment history, 30% is based on current debts, 15% is determined by your credit history, 10% is allotted to new credit applications and 10% is about types of current credit.

A lot of what affects your credit score is common sense, and anyone with a bad or poor credit rating would do well to understand the mechanics of credit and do what they can to improve their credit report and subsequent credit score.

Bad Credit and No Credit.

People often assume that these two are the same thing as a fact they are not. A lot of young people started off a working life will have no credit history, and as such may be penalised unfairly when applying for a car loan or any other type of unsecured loan or credit agreement.

But are however a number of banks and financial restrictions will appreciate the difference between bad credit and no credit and make adjustments accordingly.

Anyone who is relatively young, say under the age of 25, and is looking to buy a car is going to be hit by significant insurance costs in addition to the cost of buying or leasing a car, and the idea of a cosigner can be a hugely beneficial addition to the  whole process.

A cosigner will essentially take responsibility for making sure the loan is paid back, and they will be liable for the outstanding amount of the loan if payments are missed or repayment is not able to be made. Obviously this is quite a significant responsibility for the cosigner, and is normally done either by a parent or guardian or some other family member.

The advantage of a cosigner is at it allows someone else to buy or lease a car at a much more reasonable rate, and allows them to build up a credit history in their own right.

Improving Bad Credit

Anyone who considers themselves have a bad credit score would do well to do what they can to improve it. The first port of call is to obtain a copy of your credit report, and see what information is in there. Check that the information is accurate, and that any out of date information is removed.

Certain areas of inflation have a time bar on them as to how long they can be included in your credit report and you should be checked and removed as necessary. The other things that you can do all relate to improving how your credit is viewed by credit bureaus.

The sort of things they look for are prompt payment of bills, some type of regular payment history regarding to all direct debits and use of available credit. Taking time to update payments and clear debt can make a real difference.

In addition, doing things such as building up a positive credit history can help, although it can also take time. Having additional credit cards and personal loans that are secured can show a pattern of behaviour that demonstrates responsibility regarding money.

Having said that it is important not to take on additional debt or loans unless you have sufficient ability to repay them, otherwise she simply end up with a worse credit history than before. It is often possible to obtain credit cards that are either known as secured or pre paid.

A secured credit card me that is is essentially guaranteed against some type of deposit that you hold, often in a bank account. A prepaid credit card means that you have two load it with a certain amount of money before you’re able to use it, I can only use it to the extent of the funds secured on it.

Whilst both of these are a bit cumbersome, they do mean that you are able to use the basis of credit cards as a way of securing an improvement in credit history, and overcome some of the problems associated with bad credit. U

11 Ways To Get Best Deals On GM Financial

GM Financial is the finance arm of General Motor.

It provides finance for customers who want to buy or lease a new car or truck.

There are three or four main things to think about:

Whether to buy or lease

If buying, new or second hand

How to check your credit score

How to improve your credit score

How to get the best deal on price and finance

Many customers like the idea of being able to buy or lease a vehicle from GM

General Motors has a wide range of cars and trucks that it sells, ranging from Chevrolet to Buick to GMC to Cadillac. 

It is a really good idea to decide how much you can afford to borrow before becoming too committed to a particular car.

Knowing how much you can afford allows you to decide which car to go for, and whether or not to buy a new or used car, or to lease one instead.

1.GM Financial Costs – Sales and Leasing

Whether buying or leasing it is  always important to separate out the process of negotiating the final sale or lease price from the finance of it. Both need to be thought of separately, even if the final financing package is done with GM financial as well as  buying or leasing the car.

The cost of buying the car can vary considerably, and a number of factors need to be taken into account. Firstly is the list price of the vehicle, and it is common to expect a significant discount on this.

However the deal may well add on other charges, such as a local national sales tax, some type of registration or title fee and what are known as document fees. All these additional charges can vary widely and should be identified and itemised at the beginning of the sales process.

In addition there are usually numerous add-ons available which may or may not be of use to the customer. What really matters is that the list price is negotiated a delay before visiting the showroom, apart from a test drive, and the customer is clear about what they need in addition to the basic specifications and what they do not need.

There are essentially two routes to finance, one known as direct lending and the other known as dealership finance, in this case gm financial.

Direct lending is borrowing the money from a typical financial institution such as a bank or a credit union, where dealership finance involves arranging the credit through the manufacturers dealership, in this case General Motors.

Both are similar in terms of application processes and credit rating analysis. Whilst there are differences between leasing and buying a vehicle, the credit application process is pretty much the same.

2.Dealership Finance

Dealership finance is where you approach GM financial either to finance the buying of a vehicle from them, or to arrange the finance of a leasing agreement. The application process for both is pretty much the same.

It can either be done online, or when visiting a GM dealership. There are advantages to do it online first, in that if pre-approval is given it gives you a good idea of how much you can afford to borrow and what is likely to cost to repay it.

In any event, it is a good idea to get alternative quotes from other sources such as a bank or a credit union in order to compare them with any offer from GM. It is not necessary to get a huge number of alternative quotations, three or four should give you a fairly good indication of what you are likely to be charged and by whom.

The dealership finance arrangement with General Motors will involve an application form, and a credit assessment by them which will then determine whether or not they often finance, and if so on what terms and conditions.

3.GM Financial – Leasing

Leasing a vehicle from General Motors is something that appeals to a lot of people, often because it gives them the opportunity to effectively owning a new car when they would not otherwise be able to afford it. In reality they do not own it, simply rent it on a long-term basis.

Thinking of it as a long-term rental is a good idea, but there are important differences. A  leasing agreement will be for a fixed period of time, often between 24 and 60 months, there will be a fixed repayment charge on a monthly basis and there are likely to be costs involved at the end of the lease period.

The costs at the end of the lease on normally referred to as lease and costs, and relate to charges for any excessive wear and tear to the interior of the vehicle as well as the outside of the vehicle, and any repairs to the bodywork of the car or truck that may be needed.

Excessive wear and tear is deemed to mean any deterioration in the quality of the vehicle that is excessive compared to what would be expected given the age and condition of the car. The way  these charges are worked out should be specified and identified at the outset and detailed in the lease agreement itself.

The customer will normally be given the option of having to work prepared by themselves first, or leaving the car at it is and letting GM doing the work, but charging the customer instead.

At the end of the lease the customer will normally be given the option of buying the car outright if they wish, or if not arranging a lease on another vehicle on favourable terms and conditions if the original lease has gone as it should according to contract.

4.Vehicle Protection

One of the important aspects of all auto finance deals relates to vehicle protection. This is because it affects both the usage of the car, but also because it can represent a significant hidden financial cost to the customer.

General Motors will have a number of vehicle service contracts available, depending upon the sale or lease of the vehicle, its age and condition.

There will also be servicing and maintenance contracts, possibly a manufacturer’s warranty, possibly a dealership warranty and possibly an extended warranty as well. The option of some type of emergency roadside assistance may be available, often as an optional extra.

This is sometimes included in an auto insurance policy so it is worth checking that you are not duplicating additional cover that you will be expected to pay for.

5.GM Financial Account – Finance Tools

Opening an online account with General Motors will be done in the event that you pre-apply for credit, and is worth having even if you do not. It gives you the option of a number of finance tools and other useful information, both before any finance arrangement is agreed, and after a sale or lease agreement has been entered into.

GM or have an online calculator which allows you to work out what you can afford to borrow and how much it will cost to repay it. This can be very useful, but really depends upon the customer’s unwillingness to be really clear with insoles about their own budgetary restraints.

It is very tempting to minimise current outgoings and maximise current  incomings in order to maximise how much you can borrow for getting nicer car.

This temptation should be resisted. In addition it should be possible to download a number of manuals relating to the vehicle you have bought or leased, and other technical information if needed as well.

In addition an online account can be used to deal with any payments may be made, and also to do or process with any problems may arise either rent payments having missed all competitions regarding repayment terms and conditions.

6.GM Financial Incentives / Loyalty Offers

General Motors will offer a number of incentives and loyalty offers to potential customers in a variety of different ways, in order to maximise sales. There are normally standard rebates to people who are active have been active in the military, and to college graduates or people still in college.

In addition, General Motors are likely to offer some type of discount by way of a rebate, either on the list price or on some type of servicing and maintenance contract. Certain deals on specific models will be advertised at different times of year, often as a way of shifting inventory.

There may also be specific finance deals, either on specific models or can certain times of year that will be available to people with a very good credit score.

Loyalty offers may also be made available to customers who are looking to either you a lease, or tradingin a car previously bought with General Motors in order to buy a new one, whether arranged with gm financial or not. All these incentives and loyalty offers do constantly change, some are available nationally and some will be dealer specific.

7.Credit Rating

Understanding your credit rating is really important as it determines whether GM financial or any other institution will be willing to lend you money, and if so how much and on what terms and conditions.

Your credit rating is effectively your credit score, which is a number allocated to a range of different numbers as a way of showing what the credit rating agency deems your creditworthiness to be.

This credit score is based on a credit report which is a document detailing a huge amount of both personal and financial information about you. Depending upon where you live, you should have access to a copy of your credit report for free at least once a year, possibly more.

This is well worth accessing as you can then check the information that is contained within the credit report and if any of it is inaccurate or out of date you can ask for it to be changed.

Certain elements of the report that can have a major effect also have a limited time span and it is worth checking these to make sure they have not exceeded the length of time they are able to be included in the report and thereby affect your credit score significantly.

8.Insurance

Most people know about the need for some type of auto insurance on their vehicle, and the costs  normally associated with it. In addition, depending upon the type of agreement that you have with General Motors, and whether it is a sale or a lease agreement, GM may well require additional insurance protection be taken out against vehicle.

It is worth hearing this with the dealership prior to entering into any financial contract as the costs could well affect much you are willing to pay for the vehicle. In addition that is the question of gap insurance which may or may not be included as part of any package deal of extras that the dealership is willing to offer you.

Gap insurance Is designed to cover the difference between the final price that you pay on the car or truck, and its insurance value in the event of a total loss or a write-off. In such an event, its insurance value would be based upon an insurance companies assessment of its market value, which is likely to be significantly less and the final sale price of the vehicle.

This type of insurance policy is designed to cover the difference between the two, it would otherwise be left as an unsecured debt to be paid off by the customer.

9.Commercial Finance

The need for the best possible finance deals relating to commercial finance is a concept well understood both by businesses and by General Motors. Depending upon the nature of the business in terms of fleet and trucking operations, there can be significant sums of money involved.

The process of arranging finance  with gm financialfor a commercial operation in some ways similar to that as affects a private individual, but honestly were certain differences. The business owner as it advantage of buying or leasing in bulk, and should be able to negotiate significant discounts based on the cars trucks themselves, and also to negotiate valuable terms of any financing.

The other thing to be aware of is that there are likely to be significantly increased cheques on the credit rating of the person applying for credit, and possibly to other individuals connected to the business and possibly family members as well.

This can sometimes be a bit time-consuming, and may even seem intrusive. Other than that same principles apply to an individual’s credit score credit rating should apply.

10.GM Financial and Refinance

Refinancing a car loan arranged with GM financial can be done pretty much at any time  during the loan period, and is often done many different reasons. People should not be afraid to look to refinance early on in the loan, if they think they can arrange more favourable terms and conditions.

Depending upon how the loan is structured, most of the repayment costs in the early part of the loan will be  virtually all interest, and as such refinancing might well make a significant cost reduction possible.

People refinance normally either to reduce the amount of monthly repayment costs, or often to get a better deal on an interest rate, either because interest rates have changed or their own personal circumstances have that allow them to negotiate a better deal.

11.GM Vehicles – How to get best Finance Deals – TBA

CHEVROLET

GM : CHEVROLET SPARK

GM : CHEVROLET SONIC

GM : CHEVROLET CRUZE

GM : CHEVROLET MALIBU

GM : CHEVROLET IMPALA

BUICK

GM : BUICK VERANO

GM : BUICK REGAL

GM : BUICK LACROSSE

GM : BUICK CASCADA

GM : BUICK REGAL SPORTSBACK

GM : BUICK REGAL TOURX

GM : BUICK ENCORE

GM : BUICK ENVISION

GM : BUICK ENCLAVE

GMC

GM : GMC TERRAIN

GM : GMC TERRAIN DENALI

GM : GMC ACADIA

GM : GMC ACADIA DENALI

GM : GMC ACADIA LIMITED

GM : GMC YUKON

GM : GMC YUKON DENALI

GM : GMC YUKON XL

GM : GMC YUKON XL DENALI

GM : GMC CANYON

GM : GMC CANYON DENALI

GM : GMC SIERRA 1600

GM : GMC SIERRA 1500 DENALI

GM : GMC SIERRA 2500HD

GM : GMC SIERRA 2500 DENALI HD

GM : GMC SIERRA 3500 DENALI HD

GM : GMC SAVANA CARGO

GM : GMC SAVANNA PASSENGER

CADILLAC

GM : CADILLAC ATS COUPE

GM : CADILLAC ATS SEDAN

GM : CADILLAC ATS V COUPE

GM : CADILLAC ATS V SEDAN

GM : CADILLAC CTS SEDAN

GM : CADILLAC CTS V SEDAN

GM : CADILLAC KTS SEDAN

GM : CADILLAC CT6 SEDAN

GM : CADILLAC XT5 CROSSOVER

GM : CADILLAC ESCALADE 6ESV

 

What are the Best Honda Financing Offers?

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Getting the best finance deals on Honda can involve a number of different options.

Honda as a company will often advertise special deals either through their main company website, or through national and local advertising.

These special deals will often reflect either a reduction in the sales price of the vehicle, or a special interest rate, either on selected vehicles or across the board.

These special interest rate offers will normally be worded to make it clear that these are any to selected customers, and these are likely to be customers who have an extremely good credit score. It is also quite likely that these offers are  often limited to either customers who  pass a pre-approval credit check, or are limited to cars that have been pre-approved for sale. This

in addition, it is quite likely that selected Honda dealers who are participating in a national scheme will offer additional financial offers by way of inducements to attract customers either to buy or lease a new car or to renew a lease that is due to expire.

In any event, it is well worth realising that different dealerships offer different financing offers both new and used cars, and as an attraction to tempt people to lease a vehicle.

HONDA FINANCING OFFERS

Even when a Honda dealer but offer a specific financing offer, it is well worth remembering that a potential customer can negotiate with the dealership directly both on interest rates and terms and conditions of any loan or lease agreement.

The customer’s ability to negotiate strongly will to a large extent depend upon their credit score. Assuming they are in a strong position they should be able to negotiate a better rate of interest than they are being offered, and quite possibly to negotiate improved terms and conditions on the loan or lease agreement.

Negotiating a better interest rate can be done much more easily if the customer or potential customer has other offers of loans that they have secured from alternative sources that they can use as a bargaining tool.

To that end it is well worth the customer getting alternative locations regarding the loan, and then using this position as a way of negotiating a better deal for themselves.

It is also worth remembering that financing offers can make a difference, but that the customer can also improve their own financial position by doing things like putting down a larger down payment, or extending the length of the loan which may reduce lower monthly payments.

It is worth remembering that on any vehicle the dealership often makes a lot of its money off the various features and options they offer as extras, and a lot of these are either likely to be able to be negotiated down in cost, or not necessary of any real interest to the potential customer.

 

 

 

What Are Honda Lease Specials

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Honda actively encourage personal leasing plans, and lease specials on normally focused either on specific models of cars.

Also on separate times of year, or on specific finance deals for certain selected customers who have normally been screened through the credit pre-approval process.

Leasing a Honda car or vehicle can be thought of in many ways as similar to a long-term rental, with one or two significant differences.

A lease is a contract between the customer and  Honda, where Honda retain the ownership of the car but allow the customer to use it as their own under a form of licence agreement.

There is a contract between the two parties for a fixed period of time, normally ranging from between 24 to 60 months, with a monthly payment on the customer to Honda, a fixed mileage allowance, either on an annual basis or for the period of the lease and normally the option to buy the vehicle at the end of the lease period on favourable terms.

HONDA LEASE SPECIALS

The main benefit to the customer is that they effectively get to own or have the use of a new car on much more favourable terms than they would have if they bought it outright, which they might well be able to afford to do.

In addition to the new car feel, they get specific benefits by way of having a manufacturer’s warranty for the duration of the lease, and normally favourable benefits by way of various vehicle protection plans such as vehicle service contracts, servicing and mentions plans and often diverse types of roadside assistance emergency contracts.

At the end of the lease, there are likely to be additional costs charged to the customer, these are known as lease end costs. Essentially they relate to any excessive wear and tear to the vehicle that would not be expected but making allowances for wear and tear that would be expected given the vehicles age and condition.

There may also be additional costs relating to additional mileage. The nature of the charges and how they are worked out should be specified in the lease agreement, and understood and agreed to at the outset of the lease contract.

Honda lease specials often work at both the national and a local level.

Honda’s website will carry a list of current offers on new vehicles and Honda certified pre-owned vehicles, and this will change from time to time. All of these offers should be available at any  participating Honda dealer. In addition, any Honda dealer  can in effect make their own offers to customers, either on an individual basis or through local advertising.

This means that it is possible to negotiate any area of the lease agreement with a local Honda dealer, in addition to any national Honda  lease deals that may be on offer.

 

 

 

Jaguar XFS Review

PORTO, Portugal — SUV and truck mania is real — just ask the 63 percent of American buyers who opted for the high-riding vehicles last year. But there has been a recent groundswell of alternative options in the burgeoning wagon segment. Sure, there are lower-end wagons such as the tried-and-true Subaru Outback ($25,895) and the new-kid-on-the-block Volkswagen Golf SportWagen ($21,580). But the 2018 Jaguar XF S Sportbrake competes more closely with the stalwart Mercedes-Benz E400 ($64,045) and the stylish Volvo V90 Cross Country ($52,300).

This begs the nagging question: Could wagons become a serious thing in the States? We spent a day bombing through Portuguese backroads to find out how the Sportbrake fares among its niche competitive set.

Full story

Japan goes Futuristic

From the AI-enabled Toyota Concept-i to the forward-thinking Nissan IMx Zero-Emission, the Tokyo Motor show has again thrown up some of the year’s most innovative car designs. As ever, the event offers us our annual chance to marvel at the futuristic — and sometimes downright wacky — designs that Japan’s car industry is now known for.
1/11 – Toyota Concept-i
Toyota’s Concept-i is one of the Tokyo show stars. It learns about its users and can attempt conversation to help calm them down or cheer them up — as well as taking over control if it feels an accident is imminent. Scroll through the gallery for some of the country’s greatest cars. Credit: Toyota
But the allure of novelty shouldn’t distract us from a more serious prospect: With automobile design poised to evolve more in the next 20 years than in the previous 50, it is perhaps the Japanese who are best positioned to exploit new demand for connected cars, fuel efficiency and autonomous transport.