Lawyers – love them or hate them, there are times when you need them. Being involved in a car accident may well be one of those times you seriously need to think about having their help.
This may not be the first thing on your mind following an accident, but in the days afterwards obtaining a car accident lawyer is something you will properly want to give serious thought to, and investigate more thoroughly.
However helpful your insurance company may appear or not, ultimately they will look after their own interests and not yours.
Given that most auto accidents are quite complex in nature, a car accident lawyer may well be worth having as being the only person who is really on your side.
Costs – Contingency Fee Car Accident Lawyers
The one thing that probably puts most people off the idea of hiring a car accident lawyer is cost, and the fear of rising legal fees as the case continues.
This fear led to the rise of many contingency fee lawyers or attorneys, offering what are often referred to as no-win no fee deals. The essence of these deals is that a car accident lawyer will take on your case, and will only take their fee from any damages they win for you in court or out of court settlement.
This means that there should be no upfront costs to you, and no fees payable to them if they do not secure you damages.
Not all car accident lawyers operate schemes such as this, but many do and it is well worth searching them out, and checking their record.
From your point of view, a solid contingency fee deal means that you should not have to worry about any costs, as any lawyers fees will simply be deducted from any settlement you may receive.
There are a few potential downsides to these arrangements, and these are worth being aware of.
- Once you have entered into a contingency fee deal you are unlikely to be able to get out of it until a final settlement has been agreed, which in some cases could take many years.
- This means that you are tied into the whole process of litigation whether you like it or not. If you do break the deal, you may well have to pay significant costs to the attorneys you have hired
- The contingency fee lawyer is only likely to take on your case if they feel you have a really good chance of winning, and of winning substantial damages.
- Make sure the contingency fee deal is watertight, and that it does literally mean what it says. Make sure there are no caveats that might lead you having to pay any
- Given that there should be no upfront fees, it is likely that the fees recoverable by the car accident lawyers you have hired are likely to be significantly more than if you are paying them upfront.
- This is a simple risk return ratio from their point of view, and something you should be happy to accept or not given the proportionate lack of risk to yourself
- Even with some contingebcy fee deals you may have to pay some court costs up front, Check with any contincency fee deal if any costs are involved and what they relate to.
Areas where a Car Accident Lawyer may be able to help
There are a number of lawyers, commonly referred to as car accident lawyers, who specialise in all areas of the law relating to motor vehicle accidents. Below is a summary of the main areas an attorney may be able to offer specialist help, with more detailed information below
- Looking to obtain police reports
- Helping to obtain information about the other vehicle – maintenance records etc
- Dealing with your insurance company and insurance company of other vehicle – testifying under oath
- Personal injury claims
- Knowing if the person was using cellphone call / texting, under the influence of alcohol or drugs or sleep deprived
- Property damage claims
- Defective vehicle parts
- Medical bills
- Other expenses related to the accident – hire cars, accomodation, repatriation expenses etc
- Lost wages/ employment
- Loss of enjoyment
- Pain and suffering
- Finding out if the vehicle was speeding
- Working with forensic engineers to determine cause of accident
- Were unsafe road conditions a factor – was proper signage in place
- Protects your interests against insurance company
Whenever you are involved in an accident, it is always a good idea to involve local law enforcement. This may not only be a legal requirement, but can also prove invaluable in terms of dealing with the accident and follow-up information as well.
Local police will produce a report that should cover all aspects of the accident, including details about the other person and their vehicle.This should be available to you or your car acacident lawyer on request
This can include whether the vehicle was speeding or not, the maintenance or servicing records of the vehicle, any inherent defects on the vehicle, whether the individual was distracted in anyway by cellphone usage etc.
The police will also most likely do tests on all parties for any alcohol or drug usage, or impairment by any other means, including sleep deprivation.
They should also take note of any adverse weather or road conditions, and should take note if there was appropriate signage displayed, either physically or electronically.
A police report can be invaluable in terms of any follow-up claim on your insurance policy, and can provide vital information regarding the determination of who was at fault, and provide a sense of context for what happened.
Defective Vehicle Parts
These are often a common factor in vehicle accidents, and can be at play either in your own vehicle or in one of the other vehicle/s involved in the accident.
This can lead to scenarios where the manufacturer and/or dealership of the vehicle could also be involved in litigation, irrespective of any other factors involved in the accident.
It is quite possible that if a defective vehicle part is a contributory factor, any of the insurance companies involved or your car accident lawyer could seek to take action against the manufacturer or dealership, to which you would inevitably be a witness.
Personal Injury Claims
Whether or not you or any other party need medical assistance at the time of the accident, it is vital that you seek a thorough medical examination in the days following. There are two main reasons for this.
Firstly it is quite possible that an injury will show up in the days or even weeks following an accident that was not obviously apparent to you at the time.
Secondly, if you do proceed with any type of personal injury claim, using a car accident lawyer or not, it is crucial to your credibility as a witness that you sought medical attention at the earliest opportunity. Failure to do so could seriously undermine your case.
Personal injury claims are notoriously long, in terms of the time taken to assess long-term damage and other implications. It is not uncommon for some claims to last several years before damages are finally settled.
The are a number of reasons for this. Some more cynical people assume that insurance companies string out personal injury claims to defer having to make payment.
There are probably times this is true, but there are other reasons as well.
The main one is simply that a lot of personal injury claims relate to injuries that take their toll on the body over time, and it is necessary to see how the injuries progress over that time, and what level of damages is therefore appropriate.
It is important if you do have a serious personal injury claim to at least seek some sort of legal advice early on, and to be wary of any potential settlement that an insurance company offers you early on as well. A good car accident lawyer should be able to advise you on any potential settlement terms.
Some insurance companies offer early settlements as a way of finalising the claim, although such settlements are likely to be much less than if the claim was allowed to run its natural course over several years.
The other element of personal injury claims can relate to what could be termed knock on effects of the injury. This can relate to both short and long-term effects.
These can include mental, psychological and physical manifestations of an injury, sometimes referred to as loss of enjoyment or pain and suffering.
The other effects tend to relate to more practical issues that normally focus around an individual’s ability or inability to work as a result of the injury, and subsequent problems regarding income / mortgage payments etc.
Protecting You Against Your Insurance Company
There is often a tendency to believe in situations like this that your insurance company is on your side. In some ways they maybe, but it is also quite likely that they will seek to minimise their costs and settlement figures to the most basic figure they can.
They will either do this within the strict terms and conditions of the policy, or interpret them in a more legally dubious manner. This is really where a car accident lawyer can be useful, in addition to whatever other remedies you may wish to employ.
Your auto insurance policy will be an incredibly tightly worded legal document, that will have a number of very strict conditions regarding its terms and benefits.
In relation to an auto accident this can revolve around things such as hire cars and accommodation expenses, medical bills and having to testify under oath to the insurance company or their representative about the accident and what happened.
This is before you even get into the issue of compensation or liability settlements.
A car accident lawyer can be invaluable if they have sufficient experience in these areas, and can help smooth both the short and long-term effects of dealing with your insurance company. A good lawyer may in the end be the only person who is really on your side in situations like this.
Steps To Take After An Accident
It is fairly likely that after any car accident, you are likely to be in some degree of shock. There are a number of things that you need to do at the time, and it is a really good idea to have a plan in advance.
Either write the following things down on a piece of paper and keep them in your car, or find some other way of having these items with you. Some insurance companies provide an app for your smartphone which covers most of the information below.
- Prevent another accident
- Don’t move any of the vehicles unless absolutely necessary
- Check occupants of all vehicles for possible immediate injuries and call for immediate medical help if appropriate
- Call local law enforcement
- Exchange information with other driver
- Do not admit any liability or fault
- Take photographs
- Get witness statements
- Write a description of what happened
- Seek medical treatment
- Contact your insurance company
Prevent Another Accident
This may seem quite obvious now, but at the time of any accident it is a major priority. It is imperative that you make sure that the accident that happened does not create a situation where another one could take place because of it.
This may mean putting warning triangles in place, asking other pedestrians or car drivers to redirect traffic, or doing whatever is necessary to make the area the accident happened a safe place.
Unless absolutely crucial, do not move any of the vehicles involved in the accident. This will impede law enforcement’s ability to assess what happened, and may impact on your insurance claim.
It is really important that you gather as much information as possible at the time, even if it is in note form that you write ups later. This information should include everything relevant to the accident.
This includes getting information from any drivers involved in the accident, their names and addresses, vehicle make and registration number and insurance details.
Get the names and addresses of any witnesses you can, either pedestrians and other car drivers. Make a note of the weather conditions, and of any relevant skidmarks or tire marks on the road.
Take as many photographs as you can, whether on a camera or on a smart phone. Take photos of any damage to your car, any damage to the other car or photos of the other car if there is no damage.
Note to see if there are any surveillance cameras nearby, either on the road or on nearby stores or office buildings. They may well have footage that could be invaluable in the event of a disputed insurance claim.
Knowing Your Insurance Policy
Most people only tend to look at their influence policy when there are about to make a claim, and unless you are an exception to this you will need to familiarise yourself fairly quickly with your auto insurance policy’s major provisions.
- Notify insurance company of claim immediately
- Follow-up for details of claim on company forms within a set number of days
- Never admit fault or liability to any third party
- Be willing to give evidence under oath
- Settlement procedure regarding valuation of vehicle
- Medical expenses
- Settlement procedure regarding total claim
- Independent medical assessment by insurance companies doctor of choice
Whilst there are many areas of your insurance policy that you should become familiar with, there are a few that are critically important.
Your insurance policy will have time limits within which you must notify them of the initial accident or incident, and time limits with which you must follow up with details of the claim.
These time limits are really important, and if you fail to keep them it could well void your policy. Your insurers may will appoint an assessor who is essentially a specialist in motor claims, and you will be expected to fully complywith their requets and assist them as much as possible.
Having the counsel of a good car accident lawyer can be invaluable.
You may well also be required to give evidence under oath as to what happened, and this is one area where it is well advised to have an attorney or car accident lawyer present. It is often said, but cannot be repeated too often, never ever admit any liability or fault to a third party.
This is not about you being honest or dishonest, it is simply that if you admit any type of liability or fault, it could well be used against you and potentially void your claim.
It is worth mentioning that there is no way some arbitration process built into the insurance policy in the event of a dispute, and then they will be some state laws governing arbitration as well. This can be very important in the event of a dispute with your insurance company, an dan area where you would be well adives to have the services of a car accident lawyer.
Knowing who is at fault
The term accident often makes people think that there was no one to blame, whereas in reality most accidents canusually be traced to some degree of negligence by one or all drivers.
This negligence can take many forms, ranging from distracted driving, defective or badly maintained vehicles, unnsured vehicles to being under the influence of alcohol and/or drugs.
Whilst every accident is different, there are a number of standard classifications of accidents that tend to happen, most of which have a significant amount of case law, and specific legal definitions regarding negligence. Your car accident lawyer can give you more details.
It is worth familiarising yourself with which classification of accident yours falls under, and the main legal principles involved in your state.
Different types of accident
- Hit and run accidents
- Single vehicle accidents
- Motorcycle accidents
- Truck accidents
- Railroad accidents
- Bicycle and pedestrian accidents
- Rear end collision
- Single vehicle accidents
How to Find a Car Accident Lawyer
This can in many ways be the trickiest part of the process. Firstly decide whether or not you want to have a car accident lawyer, and if so whether you want to hire one on a contingency fee basis, as outlined above, or on a more normal fee for work basis.
The rest is common sense to an extent. Find a lawyer who has experience in these areas, either through a Google search, or through various review websites.
There are a number of questions to ask any potential car accident lawyer, ranging from their costs through to their level of experience. Do not be afraid to interview lawyers and go with whoever you feel is most appropriate for your case.
Most lawyers will offer an initial free consultation to assess the merits of your claim or case, sometimes this is online, over the phone or in person at that office.
Make use of this facility as it will give you an opportunity to see how different lawyers approach your particular situation, and which you feel most comfortable with.
United Auto Credit are one of the leading and most well-established nonprime or sub-prime lenders in the car market.
Based in California with a mailing address in Fort Worth Texas, but available to dealerships and customers throughout the United States.
Their website stresses that they have a number of programs specifically tailored to people who are likely to have problems repaying loans, such as the first time buyers program and welcoming people who have been bankrupted.
It is pretty clear that the intent is to reach out to people who have bad credit, and try and make themselves approachable and welcome.
Whilst this is obviously of value, it should be remembered that at the end of the day it is about money.
Any lender is looking to make money out of their client, and a warm and fuzzy approach should not be mistaken for any kind of kindness or weakness.
United Auto Credit -Phone Number
Dealer Support – 866-504-2133
Customer Service – 888-895-6134
Payoff Quote 888-895-6134
Title Questions – 888-376-7149
Employment Enquiries – 800-694-1800
Customer Service – 1-888-895-6134
There is also a live chat facility on their website
United Auto Credit – Account and Login
Customer enrolment is a key element of being able to manage your account. In order to and roll online you will need your 17 digit account number, your Social Security number and your date of birth. You will need to set up a username and password and email address etc.
Once the account is set up and you have logged in, you will be able to access all your financial details, such as the different type of payment options you have, moving to paperless billing if you prefer, be able to sign up for automatic payments, view past and current statements of account etc.
United Auto Credit – Payment Methods
United Auto Credit as a number of different payment options, some of which are free and some of which they charge for.
Automatic Payments – Free. This is where payments are deducted automatically from your bank account each month, and in theory this work as a simple direct debit.
Checking/Savings Account ( ACH) – Free. This seems similar to the above, but is done in combination with ACI Universal Payments
Card Payment – $5.95. This allows for a one-off payment by credit card such as Visa or MasterCard, which would obviously need to be done every time a payment was due.
Pay By Mail – PO Box 660017 Dallas TX 75266. This is the more traditional payment method for a number of people, especially those who don’t like to use online banking or payment systems.A monthly billing statement is sent out customers, with a request for payment be returned within five working days of the due date.
It does not say if there is a late payment charge and this is something that should be checked as it does quite often apply.
ACI Automated System Phone Payment – $5,95
Customer Service Phone Payment -$7.95
Western Union Quick Collect – $12.99 – note on websites that fees may apply
Check Free Pay – prices vary by agent
ACE Cash Express – $1,50
Moneygram $ 13.99 – in addition other fees may apply.
Please note all prices and information current as at June 2018
United Auto Credit – Dealer Portal
United Auto Credit have a dedicated dealer portal which they refer to as their fast lane program. It gives dealers access to all information they need, including the most basic funding document check list.
This includes items such as a copy of United Auto Credit approval or condition notice, a credit application, a simple interest retail instalment contract, a signed copy of Bill of Sale, a signed copy of title acquisition, a signed copy of an Odometer Disclosure Statement, a used-car book sheet, proof of insurance and five complete references.
United Auto Credit – Repossession
No one likes the idea of repossession,and often it is one of those subjects that no one talks about. In the world of auto credit that is a big mistake. If you fall behind with payments or cannot make them, contact United auto credit immediately and talk to them about the problem. There may be ways of resolving it without the need for repossession. Repossession not only increases your debt level, but also has an adverse effect on your credit score which if it is bad enough to use United Auto Credit in the first place will simply get worse.
United Auto Credit -Payoff
United Auto Credit by a payoff telephone number and address that you can ring or write to and get a quote as to what it would cost to pay off outstanding loan. Bear in mind that most loans are structured in such a way if you pay them off early there likely to be a heavy penalty charge.
This penalty charge should be spelt out in the initial contract. It may be better to look at the possibility of refinancing the loan with another lender as United Auto Credit currently do not refinance.
United Auto Credit – Reviews
As with many types of businesses, you never really know how good their customer service is, or how efficient they are until you run into a real problem. One of the ways round this is to look for reviews of both the customer service and overall approach to customer care.
The problem with reviews generally is that they either tend to be written by people on half of the company, or by angry customers who have either been treated unfairly, or who are just annoyed with not getting their own way.
Either way, reviews are not ideal but if you can find some relatively unbiased source of information that should give you some insight into how the company operates. Online forums are a good place to start, as is the local Better Business Bureau.
Auto Credit Express is a company that caters to what it terms special credit needs.
This really means it is a company that specialises in sub-prime loans for cars and trucks for people who have bad credit or a poor credit history.
They are based in Michigan and operate a distinct business model.
They invite potential customers to use an on-line application form, in which they say that once completed a dealer who lives near the applicant will contact them and invite them to the showroom.
It sounds a bit like an interview, but is certainly a business model where they retain control over who is able to apply for a loan and isn’t.
Perhaps the one downside to this type of model is that when invited into the dealership, the type and range of vehicles available to buy will be determined by the dealer, rather than the other way round.
It puts a loss of power into the hands of the dealership in determining which car or truck the customer is able to buy.
Auto Credit Express – Reviews – Better Business Bureau
People turn to reviews of Auto Credit Express to try and get some type of independent assessment of how trustworthy they are or not.
As mentioned above, reviews can be a tricky area to navigate in terms of independence and simply people mouthing off because they did not get what they want.
Having said that, the Better Business Bureau does carry a number of favourable reviews and comments from satisfied customers that appear genuine. This is not a guarantee of anything, but can give some level of guidance.
Quite often reviews can point up favourable or unfavourable elements of a company that you might not otherwise have.
The best source of any review some type of government or state analysis of a company, in terms of its financial health and its adherence to legal and statutory obligations.
Be on that it is going to reviews on car sites, forums and any bad credit website that seems relatively independent in order to try and find out a bit more information.
Whilst people look to reviews, the best they can do is highlight the reality of how the company operates.
Some people had good experience for them, the people not so good experiences. Some of this without a company or its employees, others will be down to the customers.
The more you know about a company and how it operates the better able you are to make an assessment of whether or not it had the right company for you.
Auto Credit Express Dealers
This is perhaps the biggest drawback of Auto Credit Express, that you cannot contact their dealerships directly.
It inverts the whole process of car buying, and puts much more power in the hands of the dealer. You have to apply through the auto credit express website before a dealer will then contact you.
Whilst in practice this may suit a number of people, it does mean that a customer is much more liable to have their choice of cars extremely restricted as they will have to go through a particular dealership first, and then decide what: they want by rather than the other way round
When visiting a dealership for the first time, you will need to have a certain amount of information with you.
This will include your current pay stub or payslip, a W – 2 form, a current bill with your name and address on it, possibly two or three, any bankruptcy discharge papers that are relevant, a valid drivers license, a number of personal references, any proof of title to a car you are looking to trade in and proof of insurance.
Auto Credit Express , 3271 Five Points Drive, Suite 200, Auburn Hills, MI 48326
Phone : 866-902-4403
People often get confused, unsurprisingly, between various companies that use the name Auto Credit or Auto Credit Express etc.
Express Credit Auto is an independent dealership based in Oklahoma, which does not seem to specialise particularly in bad credit, although it does say on its website that it can cater to anyone with any type of credit.
It is a fairly standard dealership offering a wide range of models and service, including financial and credit applications.
It has five locations in Oklahoma, two in Oklahoma City.
If you know which particular model you want, it is a good idea to check with them beforehand whether they have the particular type of car you want at any of the locations not simply the one that you contact.
4810 N.W. 39th Street
Oklahoma City, OK 73122
1 W. I-240 Service Road
Oklahoma City, OK 73139
343 N. Interstate Dr.
Norman, OK 73069
9014 S.E. 29th
Midwest City, OK 73150
4215 S. Memorial Drive
Tulsa, OK 74145
Premier Auto Credit is a fairly major player in the bad credit/sub-prime lending market, although it appears from the website that their lending and dealership network is confined to California.
There is a lots of detail on their website about how caring and thoughtful towards customers, and a number of testimonials supporting that.
Helpful though that may be, it should be remembered that the sub-prime auto market can be a fairly cutthroat business, and whilst it is in their interest to attract customers, their objective is to make money out of them.
Nothing wrong with that, but potential customers or anyone with bad credit is essentially quite vulnerable.
6502 Van Nuys, Blvd.
Van Nuys, CA 91401
Other Contact Numbers include
Insurance Claims & Impounds
American Credit Acceptance is a major financial institution that specialises in sub-prime lending, and offers a number and range of programs to both customers and auto dealerships.
From a customer’s point of view, the company has partnerships with approximately 3500 dealers across the USA. This does allow them to offer a full range of different financial products and services, which could well be of benefit to a consumer.
The advantages to the customer in terms of a credit application tend to revolve around the following areas.
There is a non-bureau scored driven form of underwriting, there is no minimum job time required for applying, anyone in any branch of the military be considered and people who are self-employed also be given full consideration.
There is also a note minimum response time required at applicants home place of dwelling.
With regards to the vehicle, there are no age restrictions in terms of the year of the model, and in terms of mileage, to 150,000 miles will be considered in terms of the vehicles usage.
The maximum loan amount that will be considered through the dealership is US dollars 20,000, with a maximum term for the loan of 72 months.
Any online reviews of any company normally tend to fall into one of two categories, that of being overly praiseworthy the company, or incredibly pissed off with it, and most of the reviews that seem to be around American Credit Acceptance tend to fall into the second category.
There are a number of reputable review sites such as Credit Karma, Better Business Bureau, indeed.com etc where the majority of reviews either relate to specific instances of poor customer service, or gripes about interest rates and repossessions etc.
It should be remembered that this type of industry will inevitably be more cutthroat than mainstream auto dealerships, even though they can be numerous similarities between the two. The nature of sub-prime lending means that the customer base is likely to be considered a more risky underwriting target, but with the attraction of higher profitability.
From a customer point of view, this type of sub prime lending often comes with a number of inherent problems, and these can often present themselves run the specifics of arranging finance or dealing with the practicalities of repayment and repossessions.
Finding independent valid reviews can be a real challenge. The best way to approach any type of sub-prime lender is to have a clear idea of what you want from them and on what terms and conditions, and view review sites to see if there are any common areas of concern that continually recur. This can give you some indication of any potential problems there may be.
2. Careers / Salaries / Interview Questions
American Credit Acceptance do seem to be fairly open in the approach to wanting to employ recent high-calibre staff, although little details given about the reality of terms and conditions and salaries. There is general information about has of work and the reference that they do give you time off in terms of paid holidays etc
There is no real leading in terms of what these jobs will entail. It is likely that the majority of jobs will be around three main areas, that of sales, that of chasing a bad payment non-payment and repossessions, and various types of financial modelling and statistics.
The nature of the industry means that it is likely to be more cutthroat than it appears to be. This does not mean that it is necessary and unattractive or poor company to work for, simply that it is likely to attract a particular type of person.
Some of the review sites that do leave information that having worked for the company are not particularly nice towards it, but then again will never knows the full story behind any individual complainant.
3. American Credit Acceptance Payment Methods
American Credit Acceptance has a number of ways of accepting payment, online, through normal banking roots and via direct mail.
Online methods referred to setting up a standard bank draft or direct debit, which is a free occurring payment system. It is possible to also arrange one-time payment details online.
Bill pay – this can be arranged through my standard finance organisations
Pay by phone through IVR 1-866-544-3430
Standard third-party payments through CheckFreePay, available at most Walmart locations, through Moneygram and Western Union.
By direct mail to address listed above.
Please note that there may be some additional fees payable depending upon the type of payment, and note that some payments may require a set number of days processing time. Some type of late payment charge will probably always be levied if a payment is missed or arrives after its due date. Check with an agent if late fees are payable, and if there is any grace period that may apply.
4. Payoff Details
Customers normally want payoff details for two reasons. Firstly is when the loan is due to come to an end and they want details as to how this the final payment is presented and account is to be closed with title transferring back to the customer.
Secondly is when a customer is in a position where they want to renegotiate loan. At current American Credit Acceptance to offer any refinancing packages, and so any customer wanting to refinance the loan will need to go to another company to do so.
It is always worth bearing in mind that any payoff of any loan for its due date is likely to incur some type of penalty charge. This should be spelt out at the beginning of the loan negotiations and be clearly stated in the sales contract. This should always be confirmed for any firm notice to pay off the loan or transfer to another lender is agreed.
5. Customer Service
American Credit Acceptance offer a full range of contact details for their customer service team as listed above. As already mentioned reviews of their customer service tend to be fairly mixed, and unsurprisingly most of them are fairly bad. This does not mean that their customer service is bad, merely that people who feel they have been treated unfairly whatever reason always tend to be the ones who give voice to it.
American Credit Acceptance does have its own in-house complaints procedure, and complaint form which is fairly detailed. Again, this could be a good sign for many a good form of PR.
When buying a car through this company or any other in effect, it is a good idea to get a full range of contact details, both with the company and the dealership, and be fully aware of all local and state laws regarding consumer protection in terms of the initial sale, any cooling off period and consumer rights during the term and pay off the loan.
No one likes the idea of repossession, and as such it is quite often avoided in an industry when fact it is a real-time occupational hazard. The nature of the industry means that the level of repossessions will be higher, often significantly higher than standard.
What companies like American Credit Acceptance really don’t like is when a customer misses a payment and then go silent. This leaves them in a sense of limbo is what is happening and inevitably they fear the worst and may invoke fairly drastic measures.
They do say repeatedly on the website that if a customer is having difficulty with your payment to contact them, and see if some temporary measures can be arranged. Realistically this is likely to be something they are able to do.
It is informally preferable from their point of view to give an individual customer a visibly way now and then in order to maintain payments on the loan, rather than have customers missed payments go quiet and having to start repossession.
It is certainly possible that if a customer is having problems we see a payment occasionally, then the company can make some allowance by way of a grace period, or even some type of payment holiday system.
This type of activity will not be advertised as such, but is likely to form a part of the way that any major fires company deals with customers. Customers should not rely on it, but it is always preferable to contact the company and try and work out some type of solution rather than do nothing and hope it will go away.
Phone Number / Address
American Credit Acceptance has a wide range of phone numbers and different addresses with regard contact information.
American Credit Acceptance
961 E. Main St.
Spartanburg, SC 29302
American Credit Acceptance LLC
PO Box 204531
Dallas, TX 75320-4531
*Closing Packets sent via FedEx*
American Credit Acceptance
4054 Willow Lake Blvd
Memphis, TN 38153
*Closing Packets sent via UPS or USPS*
American Credit Acceptance
3268 Progress Way
Wilmington, OH 45177-7700
Loss Payee Address
PO BOX 4537
Carmel, IN 46082
Extended Service Contracts & GAP Cancellations
Service Members Relief Act (SCRA)
Total & Partial Loss Insurance Claims
Glass door has established itself reasonably quickly as being one of the gay to sites online regarding genuine feedback about a company.
Similar to customer reviews, it is often difficult to get genuine feedback for a number of reasons. One is the fear of individuals or websites being sued for defamation, the other is the issue of fake reviews which websites already fairly helpless to do anything about.
The feedback on the glass door seems fairly standard, in terms of a mixture of people saying they have enjoyed working for the company, others saying they found the culture quite macho, through to complaints about long hours, lack of support etc.
As with other types of review site, and its little genuine feedback regarding salaries or financial compensation that is of real benefit to potential employees.. That seems to be a reluctance amongst companies generally to really advertise how much they pay staff, or what other benefits they give them by way of health insurance, vacation etc.
Whatever people may think about Carvana, one thing is pretty certain, that it has a unique approach to selling cars and trucks. The main advantage from a consumer point of view is that the they do not have to deal with salesmen, and because Carvana do not negotiate on price, there is little of the hassle and stress that goes with trying to make sure the customer gets the best price.
It is probably the first and only true online sales portal, which has a number of advantages & disadvantages as well.
The buying process, and the finance arrangements behind it, are fairly clear and open. If people like that sort of approach and they can go down the road of buying a car from Carvana,, and if not they can approach a more traditional dealership.
Carvana base their whole system online. A potential customer can view a car, check its price, and decide whether or not they want to buy it. If they do, they can go ahead and neither arrange the finance with Carvana all with a third-party finance arrangement such as a bank or a credit union.
Locations – Atlanta/Houston/Phoenix/Tampa
Because there are no dealerships, picking the carp or heavy delivered is a critical element of coroners model of auto credit and sales. In addition to their vending machines, customers can either collect their cars or have them delivered. It also depends hugely on where the individual lives and where they are willing to go to fly to in order to collect the vehicle.
Carvana have quite an intense system but they have a number of local markets, and a system where they are willing to pay a certain amount of consultation costs involved in individual going to pick up the vehicle if they would rather do that and have it delivered. Its current list of local markets is detailed below, but the company is keen to stress that it is an ever-growing list.
- Allentown (Pa.)
- Augusta (Ga.)
- Bridgeport (Conn.)
- Charleston (S.C.)
- Columbia (S.C.)
- Corpus Christi
- Fort Myers/Naples
- Greensboro (N.C.)
- Greenville (S.C.)
- Hampton Roads (Virginia Beach area)
- Hartford (Conn.)
- Huntsville (Ala.)
- Kansas City
- Las Vegas
- Lexington (Ky.)
- Los Angeles
- Macon (Ga.)
- Manchester (N.H.)
- Montgomery (Ala.)
- New Haven (Conn.)
- Oklahoma City
- San Antonio
- San Diego
- San Jose
- Springfield (Mass.)
- St. Louis
- Washington, D.C.
- Worcester (Mass.)
Carvana have a huge range of cars and trucks, but do not use traditional dealerships, and such to carry inventory in the way that a dealer will. What this means in effect Is that the information required to assess the car is viewed online, along with real-time pictures of the interior and exterior of the vehicle as opposed to stock pictures.
In addition, every car comes with access to a review of that particular model by Edmunds, and other information is available such as its recommended price compared to Kelly’s or bluebook. When a customer ultimately chooses a car and begins the payment process, and the car will either be delivered to them or delivered to a vending machine where they can collect it from.
How does Carvana Work?
Carvana works on a very simple principle. People can view cars online, make a decision about whether or not to purchase them, at a price that is nonnegotiable. Finance can be arranged either with Carvana or some other finance house. Once agreed, there are certain formalities have to be gone through in terms of paperwork, insurance, ownership of title, trade in of vehicle etc.
Once these formalities have been agreed, then the sale can go through.
One of the refreshing things about Carvana is that it is relatively easy to find a load of reviews about it. It’s own blog and website carries extensive customer feedback, some of it highly critical. In fairness to Carvana they cars and trucksicism head-on, either agreeing with it works and is far more challenging it if they dispute some of the information or facts detailed in the .comment.
Because they are a purely online operation, a lot of their marketing and consideration is is geared towards people processing the vast majority of the application and buying process online, and it seems they are much more open to the reality of reviews mean.
In addition, there are a number of reviews on important websites such as highya.com, yelp, Nerdwallet, reddit etc as well as the Better business Bureau.
Cars / Used Cars
There are a huge range of cars and trucks available on the Carvana website, all of which will be used for second-hand. This obviously is a potential issue some people.
Carvana try and get round this by stating that no car listed has ever been involved in an accident, and they carry out a fairly detailed inspection of the vehicle, with something like 150 specific points detailed to make sure it is in reasonable condition.
Any defects or damage to flag up on website, and the price adjusted accordingly. In addition, there is a Carfax report issued on every car or truck sold through the website.
Warranty / Delivery Fee
This is perhaps where Carvana does come into its own in many ways. Every car comes with a seven day refund and money back policy, with no questions asked. There are certain limitations raking things like if the car is involved in an accident etc that make this warranty invalid.
This means that everyone has effectively seven days and the limit of something like 400 miles to check that the car or vehicle is right for them. If not they can return it and no money will be taken from their account now free to either move on buy another vehicle.
In addition, every car comes with an extended warranty that is valid for approximately 100 days or just over 4000 miles. This warranty is underwritten by a company called SilverRock. Carvana described this as a fairly comprehensive warranty, and is designed, most mechanical and powertrain elements of a car. In addition, you can buy an even more extended warranty called Carvana care which includes most of the same mechanical and powertrain elements as the original warranty policy for a longer period of time.
On the better business bureau website as of June 2018, there are approximately 6 complaints about Carvana. This may or may not be a good sign. Most of the complaints refer to poor customer service by way of misinformation, not returning phone calls, changed delivery dates etc.
Whilst all of these complaints may be perfectly valid, one of the most disappointing things is the response that Carvana has posted. The essence of their reply is that customer satisfaction and customer pleasure is central to the whole business philosophy of the company blah blah blah.
When anyone makes a valid complaint about any company, the individual complainant and anyone reading their complaint is likely to be immediately put off by this PR driven approach to how to handle a complaint.
People appreciate honesty and integrity. If an individual or a company makes a mistake get things wrong, they are normally advised simply to put their hands up and admit fault and try and rectify it and move on.
katana would do well to have their own in-house complaints procedure, along with some type of external disputes process. This would reassure potential customers that if and when things do go wrong that some mechanism to rectify them in a straightforward and reasonable manner.
Carvana Vending Machines
The idea of buying a car through a vending machine may seem slightly weird, but hey, here in America why not ?
No doubt that the idea of using a vending machine is somewhat of a marketing ploy as well as a way of collecting and delivering sold vehicles, but also no doubt that it works. Looking at photographs of the vending machines that Carvana use, they are pretty impressive.
The idea of a vending machine is that it is a way of the individual collecting their car. They effectively insert a token into a machine, and 20 to 30 minutes later the car is delivered to them.
Obviously a lot of work, both physical and paper, has been put into the process before this actually happens, but this process should also appeal to the mentality that enjoys buying from vending machines, which is pretty much most of us.
There is something very satisfactory about putting a coin into a slot, and getting something back in return. This is the principle behind slot machines, and may well end up being the future of how most cars are sold as well.
Roadloans are a major on-line sub-prime lender who specialise in securing auto loans for people who have or have had credit problems. They have a strong consumer friendly to people who have a record of bad or poor credit, both in terms of auto loans and refinancing car loans as well.
Like a lot of auto credit companies, they are overly welcoming towards people who are deemed to have bad credit, and make a point of welcoming them and assuring them of a friendly and receptive attitude.
This approach which is both a marketing tool, and possibly a genuine way to appeal to people, any potential customer should be under no illusion that like any finance company Roadloans are interested in making money out of their clients, not in any fuzzy sympathy or kindness.
Whilst that may sound when applying for a loan cynical, it is also worth bearing in mind that any decent auto credit company will value customers who they can attract and keep.
Anyone with bad credit is likely to be a valuable source of income for them, short-term and long-term, and it is in the company’s interests to treat them as fairly as possible.
1. Applications / Bad Credit
Roadloans do focus on a number of areas of auto credit, namely new and used car loans, by a car with bad credit, getting a car loan with no credit, car loans after bankruptcy and auto refinancing.
They spell out very clearly that anyone with bad credit is likely to face higher interest charges, and discusses ways that the overall package can be minimised through things like making a sizeable down payment, or encouraging a cosigner with a healthy credit record to participate in the loan agreement.
They also make a distinction between someone with bad credit and someone with no credit history. Many people do not have any credit history either because of their age, or because of their lifestyle which has meant they have had no need to borrow money for a significant period of time.
People with no credit history can be encouraged to build up a healthy credit score in fairly simple steps over a period of time, which can significantly reduce costs but short-term and long-term.
The various options regarding bankruptcy are discussed, as well as its potential effect on someone’s credit history as well as their life and personal situation generally. Bankruptcy can be one of the most major emotional traumas in life, and needs to be managed as sensitively as possible.
2. Roadloans Reviews / BBB
One of the problems when using any type of online finance website is credibility, and one of the main ways of helping towards establishing that are genuine customer reviews. These are very difficult to assess for any company.
People like reviews. They instinctively trust them unless they are obviously over the top. The problem is that genuine reviews can be hard to gauge as to whether they have come from satisfied customers or are effectively written by the company through its agents or PR company.
Bad reviews are much more likely to be genuine, as it is an option people to vent their frustration at what they perceive as bad customer service or poor quality work or advice.
As such getting genuine reviews as a guide towards a company’s credibility can be difficult.
Roadloan reviews on trust pilot tend to run to over 1000, which is probably a good sign, with over 70% rated as excellent and only 6% graded as bad. Potential customers will have to draw their own conclusions.
What can always be gauged from reviews points at the individual had not thought of in terms of potential areas either to do with applying for a loan or managing a loan once has been arranged. These points can highlight areas of concern or guidance needed that can often be significantly beneficial.
Another good source of reviews is the Better Business Bureau, as well as organisations such as Consumer Reports. Bear in mind when applying for a loan what is important to you in terms of size of down payment, interest rates and how to manage the loan once it is finished, including any penalty for paying off the loan early.
Roadloans has access to a wide range of dealerships across the US, and applying online and getting approved online before purchase means that the customer has benefits of pre-approval, in the same way as if they were arranging dealership financing with one of the major companies such as Ford or GM.
The advantage of pre-approval is at the customer knows how much they have to spend and view vehicles priced accordingly. The downside of pre-approval is at the giver ship knows how much the customer has to spend as well, and can price vehicles accordingly or negotiate knowing the customers upside and downside.
A dealership can be located through the readloans.com website, and once located it is a good idea to view the dealers inventory and see what sort of vehicles they have and which ones seem appealing to the individual customer. The more negotiations that can be done over the phone or online before visiting the dealership is always a good idea, as it gives the customer a much greater sense of control over the whole process.
4. Login / Account
Potential customers are invited to apply online for a loan, and in the process generates an account for themselves. If approved this account can be used to manage the loan, in terms of viewing and receiving statements, managing payments and being able to contact customer service.
It is worth bearing in mind that RoadLoans offer six types of payment options, online payments, AutoPay, payment by phone, mail, MoneyGram and Western Union. With most of these payments some type of fee may also be charged, irritatingly referred to as a convenience fee.
Arranging a simple and convenient way to pay monthly instalments is really important, both for peace of mind and because late payments can incur additional interest charges, and late payment charges as well. These can accumulates quite quickly and can increase the pressure on the loan quite considerably.
Many auto credit companies shy away from the issue of refinancing loans, but the option to refinance is a crucial one to many people who have a bad credit or poor credit history. They may need to refinance an original loan because their credit has deteriorated, or something as happened to their financial situation that necessitates a change.
They may will need to lower their monthly payments, or extend the term period of the loan. This can normally only be done through refinancing.
On the other hand, someone who has applied for a loan with bad credit and has done work to repair their credit account may well look at some point to refinance that original loan because they will be able to get a better interest rate, or better terms and conditions.
They may also wish to renegotiate or refinance loan in order to release a cosigner who may have been an original dual applicant.
Refinancing a loan can be a fairly straightforward process in one sense, in that it should be done not in the same way as an application for an original loan
Roadloans Loan Calculators
Loan calculators are encouraged by both lenders and customers, as it seemed to give a very simplistic sense of what a loan is going to cost you. Whilst the figures arrived at using a loan calculator can be accurate, they do not always tell the whole story.
The loan calculator on the roadloans website has a number of different options. It has a car affordable and calculator, and auto loan payoff calculator, an auto loan calculator, and auto refinance calculator and a fuel savings calculator.
Whilst all of these can be helpful, what they do not show charges such as auto insurance, gap insurance, servicing and maintenance costs, dealership fees, late payment charges etc. Any applicant should also be able to do their own budgeting plans in terms of their own individual finances to see how much they can afford to repay on a monthly basis.
This should make allowances for changes in the individual circumstances by way of salary increase or decrease, increased or reduced hours at work or other costs such as tuition fees or increased medical bills.
Whilst no one likes to look at these things, undertaking any loan especially for someone who has a bad credit history, they are an incredibly important part of a realistic assessment as to whether or not someone should be lent money, and if so what terms and conditions.
Roadloans is owned by Santander, and mail should be sent to the following address
Santander Consumer USA Inc P.O. Box 961245 Fort Worth, TX 76161 Attn: SC USA
Applications – 888-276-7202
Customer Service – 888-222-4227
Ford credit options relate to a wide variety of different potential deals that for credit will make available to potential customers on either specific vehicles, certain finance deals or additional benefits to any sale or lease agreement on various vehicle protection contracts and plans.
Ford credit relates to the type of dealer financing, where the manufacturer offers auto loans to potential customers, either for the sale of a vehicle or in effect to lease one from them. Arranging an auto loan is like arranging any secured loan, but when done with Ford credit that are a number of different angles need to be considered.
For many people arranging the finance with the Ford dealership makes the whole thing they got easier, and can seem much simpler. Whilst this is true to an extent, it is also important to separate out to elements of the deal in terms of the negotiation of the vehicle and extras, and negotiation of the finance itself. Both are in effect separate processes and should be treated as such.
What are Ford Credit Options ?
An application for Ford credit will be considered pretty much entirely on Fords assessment of the individual’s creditworthiness as to whether they are a reasonable risk or not in terms of an individual to lend money to.
This will involve an application process that will require the individual to detail a significant amount of personal and financial information, both about themselves and their families. This information will then be submitted to a credit bureau will make the assessment on behalf of Ford and issue a credit score.
This credit score will then be used by Ford to decide whether or not to lend the individual money, and if so on what terms and conditions. Ford credit will also likely offer the option of pre-approval for a customer, allowing the customer a degree of certainty about how much they can afford to borrow and at what cost.
Ford credit options also include potential deals on errors such as servicing and maintenance plans, extended warranties and roadside assistance.
They can also be potential benefits regarding auto insurance deals with certain insurance companies, and the provision of gap insurance as an additional extra.
Paying off a lease early, or trying to terminate or end a lease for it finishes is normally fraught with difficulties, as there are likely to be early termination charges in the lease agreement, and the whole intent of how a lease works is that it is calculated and worked out over a significant period of time anything between three and five years.
An early termination charge in a Ford Motor credit lease agreement is likely to be fairly hefty.
This in part is to discourage people from terminating the lease agreement before it finishes, but also because the terms and conditions of the original lease will have been worked out over a much longer period of time.
This means that the terms and conditions of the lease agreement including the size of the down payment, the monthly charge, the mileage allowances, extended warranties, valuation of lease end costs, servicing and maintenance plans etc have all been marked out on the basis of a specific time period for the lease.
Ford Motor Credit Lease Early
Someone wanting to pay off a lease early therefore disrupts the basis of how the lease has been agreed, and as such faces a considerable charge.
The basis of an early termination charge should be included in the lease agreement, on the basis of its compilation spelt out clearly. Anyone entering a Ford Motor credit lease agreement should have the intent to stay in that agreement until expiry.
If someone does find that they get into financial difficulties, or they have real problems in paying the monthly commitment to ford credit with regard to the lease, then it is crucial that they contact dealership or Ford credit directly and try and negotiate some type of agreement to help see them through it.
A lot will depend on the circumstances of the lease agreement in place, but it is crucial that the customer is up front with Ford were any problems they may be having financially. Failure to do so will likely result in repossession of the vehicle, and a seriously adverse effect on the customers credit report and credit score which will cause impact any future loan or credit arrangements.
From time to time, Ford or Ford credit will offer a number of inducements to attract sales of cars and trucks.
These inducements will either be done at a national level, or with local dealerships, or a combination of both.
They may be done on specific models they are trying to shift, or a certain new models they are trying to promote. Certain dealerships may need to move inventory quickly, and may offer inducements on selected models accordingly.
One of the most popular inducements for fairly obvious reasons swear a zero rate of interest is advertised as being potentially possible to certain customers. Sometimes this is done to customers who are known as pre-approved.
This normally means they have selected for approval for Ford credit prior to actually agreeing any type of deal regarding car finance. Other times a zero rate also loan will be tied to certain vehicles or cars.
Sometimes these zero rate car loan due science are offered at specific times of the year, again as a way of boosting sales.
Ford No Interest Car Loan
What is important to realise with all these no interest: loan offers is that whilst they are perfectly genuine, they are in reality only going to apply to a relatively small number of people, normally those who have an exceptionally high credit score.
What it also means is that it acts as a pull for other customers. This means that Ford assume that a significant number of customers, or potential customers will get in touch or show an interest in the possibility of a no interest car loan, and whilst it will not apply to all of them it will generate a call of interest that Ford can draw on to sell or lease other cars and trucks.
It is worth also mentioning that with a Ford and interest car loan it is important to check out that there are no hidden extras anywhere that may be making up for Ford’s supposedly generous offer.
This means to check the size of a down payment required, and make sure there are no dealership fees that will significantly impact the customer. Any additional costs or charges should be specified in the dealership agreement, and as such clearly spelt out in advance of any finance or lease agreement being signed.
The term Ford Finance Lease is one needs a slight amount of unpicking in order to clarify two or three main areas of both the credit and leasing implications that come together when someone leases a vehicle through Ford. Ford, in common with most other manufacturers have their own credit arm, known as Ford credit and this is often referred to as dealership finance, or dealership financing.
It simply means that Ford act as a credit broker essentially, in terms of arranging finance for potential customers in order for them to buy or lease a vehicle.
Ford credit will act in the same way as any other credit broker or agency, or any lending institution in that they will assess an individual’s capability to repay a loan based on their credit score and credit history. This is true whether the individual is buying a new or a used vehicle from Ford, or leasing one.It should also be realised that there is no place to benefit in terms of Ford credit making a loan available simply on the basis that someone is buying a vehicle through their dealership as well.
Ford Finance Lease
All Ford credit applications will be based on the same merit as they would be if they were being made to any normal financial lending institution.
Leasing a vehicle from Ford has a number of advantages, both for the customer and also for Ford itself. From the customer’s point of view, it allows them to essentially owning a new car or truck at a significantly reduced price than they would do if they bought it outright.
Of course they do not actually own it in terms of winning the title to it, that is retained by Ford, it should be thought of as essentially a long-term rental with certain terms and conditions. It does however give the customer a sense of ownership, and the look and feel of being in possession of a new car. Other advantages include a manufacturer’s warranty and hopefully reduced servicing and maintenance costs.
From Ford’s point of view, leasing a vehicle brings another customer into the system. Whilst they don’t make the same money as they would from the sale of the vehicle, did you make a significant amount from having a new customer and from revenue that flows from them. This revenue can include short-term and long-term servicing and masons costs, as well as hopefully developing a long-term relationship with the customer which can bring significant revenue.
A Ford credit auto loan refers to the type of financial goals action that occurs under Ford credit, which is essentially a secured loan made by Ford to a customer in respect of them buying a new or a used vehicle from a Ford dealership.
Anyone looking to take out an auto loan or a car loan will do so for the specific purpose of buying a new or a used car. If buying through a Ford dealership then there is likely to be the option of applying for Ford credit.
An auto loan with Ford credit is in many ways no different from an auto loan from any other recognised source, such as a bank or a credit union, but many people like the convenience of arranging finance with the same company that they are buying the vehicle from.
It can often seem a simple process to arrange the finance at the same time as the vehicle. Whilst this is true, it can also blur the various areas where negotiation can take place and cash be taken to make sure that both the purchase and the finance are thought of as separate processes.
Ford Credit Auto Loan
The process of a Ford credit auto loan is a secured loan, which is a credit contract. This means that the customer agrees to borrow a certain amount of money from Ford credit, and agrees to repay it on certain terms and conditions shall be agreed and formalised in a legally binding contract.
The type of auto loan that Ford credit is likely to offer will be a secured loan, winning that in the event the customer is unable or does not repay the loan, commonly referred to as defaulting on the loan, then Ford all of its subsidiaries will effectively repossess the car, and may take the steps as well to recover any outstanding debt owed to the company.
This is important, as it reinforces the need to make sure that any auto loan entered into is understood as a credit agreement, and should only be entered into the customer is fairly sure that they will be able to meet any payments. This often necessitates a serious look at their current and future position financially, and an assessment of any potential risks that may prevent them meeting their obligations. These risks should take into account change in circumstances regarding family, work, health etc.
Ford Care Credit is a term that is generally used when people are referring to the process of obtaining auto finance through Ford credit, and are also taking into account some type of vehicle protection plan, that usually relates to areas such as vehicle service contracts, servicing and maintenance plans or contracts, warranties and often some type of roadside assistance.
The term Ford Care is often used when referring to all these areas.
Anyone buying a new or used car on Ford credit will be committing quite a serious amount of money upfront, and also in the long-term through the loan or potentially lease agreement. In addition, they will be aware that there are a number of running costs of the car or truck, insurance perhaps being the most obvious, but also other costs relating to the upkeep of the vehicle.
Obviously any analysis of Ford care is relative to the age and condition of the vehicle. This is often one of the major areas of appeal for someone thinking of buying or leasing a new car, that it will come with a manufacturer’s warranty, and that the running costs will pursue be much less, at least in theory.
Ford Care Credit
If buying a Ford car or truck is not new, it is possible it is still under the manufacturer’s warranty. If so it is likely there will be terms and conditions concerning the servicing and maintenance of vehicle that need to be accurate two in order to comply with the terms of the warranty and make sure that it stays in force.
It is worth checking when buying vehicle to make sure that these terms and conditions have been adhered to so as to make sure that the warranty hasn’t been invalidated. These terms and conditions but often referred to the type of servicing performed on the vehicle, when it was done and also that manufacturers parts were used in any replacement work that needed to be done.
What often when buying a new or used vehicle, or when leasing one, there is an option to negotiate some type of deal concerning servicing and maintenance contracts. Whilst the regularity of servicing and the vehicle’s needs will be specified by the manufacturer, there is often scope to negotiate some type of plan that fixes costs, and allows for additional benefits such as a replacement car during the time the work is being done.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
GM : CHEVROLET SPARK
GM : CHEVROLET SONIC
GM : CHEVROLET CRUZE
GM : CHEVROLET MALIBU
GM : CHEVROLET IMPALA
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
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
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
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.