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Enjoy Insta Auto solutions Articles that hep our clients understand car financing and how they can save time and money when using our services
A big down payment or low interest rate? Which is more important when buying a car?
Tuesday 11 June 2013 at 11:37AM
Latest Version
Paying for your car through a loan brings you across two things – down payment and interest rate. A down payment is what you pay immediately on buying a car, non-refundable. Interest rate dictates the inflated amount you will have to pay back over a period of time. Often, a car loan gives you the option of making a big down payment or low interest rate. Do you take advantage of a low interest rate? Or, do you take both options?
Wrong Perception about Auto Down Payments
Most individuals going in for car loans are surprised that the down payments are lesser than they expected. This wrong perception about down payments occurs because almost everyone assumes that car loans require the same down payment as home loans, and car loans have large down payments.
There is a huge value difference between a car and real estate. Hence, the down payment for a vehicle is significantly less.
Car dealerships have many financing options and you should inquire about them. This is helpful if you are struggling financially and are in need of a car.
Factors for a Low Interest Rate
Your interest rate depends on a three main factors.
- Where is the Loan coming from?
Who is giving you the loan makes a big difference on the interest rate you are charged as every financial institute has different rates. Insta Auto Loans are for customers who have trouble paying for a car and the interest rate is adjusted accordingly.
- What type of car are you buying?
Ideally, you shouldn't be over reaching yourself when it comes to purchasing a car. You certainly can't expect a low interest rate for a Ferrari! Also, whether the car is new or used, it plays a role in how low the interest rate will be.
- What is the length of your loan?
The time period of your loan plays a critical factor when it comes to the interest you pay. A loan of a lengthy time period will mean that you pay more over time.
If you have both these options in front of you, take them both! Making a big down payment and getting a low interest rate are the perfect way to pay off the debt quickly.
If you do have a bad credit score, then don't shy away from the auto loan. Taking an auto loan and paying it back regularly will actually help strengthen your credit history and improve your credit score.
Lastly, explore all your options when deciding ways to pay for the car you want. Talk to the car dealership and talk to us at Insta Auto Loans. We'll be able to help you out.
Tuesday 11 June 2013 at 11:37AM
Latest Version
Paying for your car through a loan brings you across two things – down payment and interest rate. A down payment is what you pay immediately on buying a car, non-refundable. Interest rate dictates the inflated amount you will have to pay back over a period of time. Often, a car loan gives you the option of making a big down payment or low interest rate. Do you take advantage of a low interest rate? Or, do you take both options?
Wrong Perception about Auto Down Payments
Most individuals going in for car loans are surprised that the down payments are lesser than they expected. This wrong perception about down payments occurs because almost everyone assumes that car loans require the same down payment as home loans, and car loans have large down payments.
There is a huge value difference between a car and real estate. Hence, the down payment for a vehicle is significantly less.
Car dealerships have many financing options and you should inquire about them. This is helpful if you are struggling financially and are in need of a car.
Factors for a Low Interest Rate
Your interest rate depends on a three main factors.
- Where is the Loan coming from?
Who is giving you the loan makes a big difference on the interest rate you are charged as every financial institute has different rates. Insta Auto Loans are for customers who have trouble paying for a car and the interest rate is adjusted accordingly.
- What type of car are you buying?
Ideally, you shouldn't be over reaching yourself when it comes to purchasing a car. You certainly can't expect a low interest rate for a Ferrari! Also, whether the car is new or used, it plays a role in how low the interest rate will be.
- What is the length of your loan?
The time period of your loan plays a critical factor when it comes to the interest you pay. A loan of a lengthy time period will mean that you pay more over time.
If you have both these options in front of you, take them both! Making a big down payment and getting a low interest rate are the perfect way to pay off the debt quickly.
If you do have a bad credit score, then don't shy away from the auto loan. Taking an auto loan and paying it back regularly will actually help strengthen your credit history and improve your credit score.
Lastly, explore all your options when deciding ways to pay for the car you want. Talk to the car dealership and talk to us at Insta Auto Loans. We'll be able to help you out.
An auto loan is a second chance at improving your credit situation
Tuesday 16 July 2013 at 10:23AM
Latest Version
One thing that many bad credit holders don't realize is that an auto loan could be a second lease on their credit situation. At Insta Auto Loan, you not only get a loan regardless of your credit history, but you have an opportunity to improve your credit situation. You may think that you are taking on more debt, but you are actually giving yourself a second chance to rebuild your credit score.
The Problem with Bad Credit
No one, including you, should ever wish to remain in a bad credit situation.
- You are considered as a high risk borrower and the chance of your credit application getting accepted for anything like a home loan or credit card is extremely low.
- The credit rates you have will increase and you won't have a chance to bring them down because of the poor negotiating power bad credit brings.
- Keeping up with the credit payments can be tough and further drain your finances.
- Your employer or potential employer may check your credit report and be shocked at your poor credit. It does not bode well for your employment.
How does an Insta Auto Loan help your credit?
An Insta Auto Loan is a fresh opportunity to prove that you are not a credit liability. This can happen by:
- Paying the Monthly Payment on time:
Do not miss paying the monthly payment. By creating a budget, you can effectively ensure that you don't miss out on the monthly payment. You do have the option to negotiate your monthly payments if you find them too high.
- Put in your Bonus
Avoid blowing away your bonus checks. Rather, you should put it in your auto loan debt and try to pay it off as quickly as possible.
- Pay it off Swiftly
Don't aim to just stick to the minimum payment. Push yourself to go beyond that so it can be paid quickly. You are still being charged interest on the loan, so the quicker you pay, the lesser the interest rate will affect your loan amount.
A Mix of Credit
By just having a variety of credits and loans, you stand to positively improve your credit situation. About 10% of a credit score represents the type of credit you are utilizing. By mixing up your credit with different types of loans, you improve your credit history and credit score.
A Second Chance
There are many ways to improve your credit score and one of them is taking on more credit. However, that is not possible if you can't even get a loan. Insta Auto Loan is given to even those with bad credit scores. By managing this loan well, you stand a good chance of improving your credit score.
So if you have doubts about taking an auto loan, stop having them. It will actually benefit you by getting that car, easing up the financial burden and improving your credit score.
Tuesday 16 July 2013 at 10:23AM
Latest Version
One thing that many bad credit holders don't realize is that an auto loan could be a second lease on their credit situation. At Insta Auto Loan, you not only get a loan regardless of your credit history, but you have an opportunity to improve your credit situation. You may think that you are taking on more debt, but you are actually giving yourself a second chance to rebuild your credit score.
The Problem with Bad Credit
No one, including you, should ever wish to remain in a bad credit situation.
- You are considered as a high risk borrower and the chance of your credit application getting accepted for anything like a home loan or credit card is extremely low.
- The credit rates you have will increase and you won't have a chance to bring them down because of the poor negotiating power bad credit brings.
- Keeping up with the credit payments can be tough and further drain your finances.
- Your employer or potential employer may check your credit report and be shocked at your poor credit. It does not bode well for your employment.
How does an Insta Auto Loan help your credit?
An Insta Auto Loan is a fresh opportunity to prove that you are not a credit liability. This can happen by:
- Paying the Monthly Payment on time:
Do not miss paying the monthly payment. By creating a budget, you can effectively ensure that you don't miss out on the monthly payment. You do have the option to negotiate your monthly payments if you find them too high.
- Put in your Bonus
Avoid blowing away your bonus checks. Rather, you should put it in your auto loan debt and try to pay it off as quickly as possible.
- Pay it off Swiftly
Don't aim to just stick to the minimum payment. Push yourself to go beyond that so it can be paid quickly. You are still being charged interest on the loan, so the quicker you pay, the lesser the interest rate will affect your loan amount.
A Mix of Credit
By just having a variety of credits and loans, you stand to positively improve your credit situation. About 10% of a credit score represents the type of credit you are utilizing. By mixing up your credit with different types of loans, you improve your credit history and credit score.
A Second Chance
There are many ways to improve your credit score and one of them is taking on more credit. However, that is not possible if you can't even get a loan. Insta Auto Loan is given to even those with bad credit scores. By managing this loan well, you stand a good chance of improving your credit score.
So if you have doubts about taking an auto loan, stop having them. It will actually benefit you by getting that car, easing up the financial burden and improving your credit score.
Why a car swap is a good idea?
Tuesday 13 August 2013 at 10:23AM
Latest Version
A car swap is a perfect option to get your hands on another car without shelling out too much money. A car swap, as the name suggests, is basically an exchange where you swap your current car for another one.
So why should you consider a car swap?
You already have a car
The main requirement for a car swap is that you have a car that maybe old. Or you may not be satisfied with its performance. An old, used car will not have a good price in the market.
Once you buy a car and realize that it doesn't satisfy your needs, you can't get rid of it without suffering a financial loss. It may not be comfy enough, the size may not suit your needs or the engine performance could be disappointing. From the first year that you buy the car, its market value drops by as much as 50%. However, by swapping the car, you limit the financial loss.
A car swap is much less of a hassle than hunting for the best selling price and then, searching through dealerships to buy a new car.
Better the Deal at the Dealership
You are killing two birds with one stone and you want to make use of your relationship with the dealership. You can push for a better deal with car dealership that you are purchasing the new vehicle from. You can ask for a better warranty package and more features in the car.
Be more Economical
The best part about a car swap is the financial ease that comes with it. The dealership will offer you perks, cheaper costs for the car and you may even be able to avoid down payment for it.
By swapping the old car, the new one is lighter on your wallet.
Get an Auto Loan
Many people who consider going in for a car swap but can't afford it assume that an auto loan does not apply for them. This is not true.
Even if you are swapping you car, you are still entitled to a car loan. In fact, you have increased your chance of getting a car loan. Insta Auto Loan does not stop a poor credit individual, in other words you will get the loan even if you are swapping your old car and have a poor credit score. It won't be an issue. So, if ever you are thinking of swapping your old car and need a little financial help, Insta Auto Loan can help out.
Don't be so hesitant about a car swap. Overall, you will get greater value from it than going through the trouble of selling the old car and buying a new one.
Tuesday 13 August 2013 at 10:23AM
Latest Version
A car swap is a perfect option to get your hands on another car without shelling out too much money. A car swap, as the name suggests, is basically an exchange where you swap your current car for another one.
So why should you consider a car swap?
You already have a car
The main requirement for a car swap is that you have a car that maybe old. Or you may not be satisfied with its performance. An old, used car will not have a good price in the market.
Once you buy a car and realize that it doesn't satisfy your needs, you can't get rid of it without suffering a financial loss. It may not be comfy enough, the size may not suit your needs or the engine performance could be disappointing. From the first year that you buy the car, its market value drops by as much as 50%. However, by swapping the car, you limit the financial loss.
A car swap is much less of a hassle than hunting for the best selling price and then, searching through dealerships to buy a new car.
Better the Deal at the Dealership
You are killing two birds with one stone and you want to make use of your relationship with the dealership. You can push for a better deal with car dealership that you are purchasing the new vehicle from. You can ask for a better warranty package and more features in the car.
Be more Economical
The best part about a car swap is the financial ease that comes with it. The dealership will offer you perks, cheaper costs for the car and you may even be able to avoid down payment for it.
By swapping the old car, the new one is lighter on your wallet.
Get an Auto Loan
Many people who consider going in for a car swap but can't afford it assume that an auto loan does not apply for them. This is not true.
Even if you are swapping you car, you are still entitled to a car loan. In fact, you have increased your chance of getting a car loan. Insta Auto Loan does not stop a poor credit individual, in other words you will get the loan even if you are swapping your old car and have a poor credit score. It won't be an issue. So, if ever you are thinking of swapping your old car and need a little financial help, Insta Auto Loan can help out.
Don't be so hesitant about a car swap. Overall, you will get greater value from it than going through the trouble of selling the old car and buying a new one.
Why financial institutes won't give you a car loan
Monday 16 September 2013 at 01:14PM
Latest Version
Planned on buying a car, but your loan application got rejected? Well, that can really put a twist on things, especially if you are in need of a car. Before you look at your next options like re-applying or applying somewhere else, you need to go over why you were rejected. It will help you make the right move next instead of wasting time. It would be pretty foolish if you made the same mistake twice and got rejected for same reason as before.
Here's what you need know on why your auto loan application got rejected.
Poor Employment History
A financial institute runs a fine comb through your financial background before passing your loan application. For them, it is important that you are able to pay back the loan regularly. This involves having a stable job. They will look at how long you have managed to maintain a stable job. They will look for trends like whether you lost previous jobs after taking a loan. Most of all, they will look at your present employment history to check if you have a job and will be able to pay back the loan.
So either your employment history shows you don't hold a job for too long or you don't have one right now.
Bad Credit Report
- Your credit report contains valuable history on your income and debt situation. Poor income and high debt says you can't manage another loan.
- Financial institutes will check your personal experience with loans and repayment. They will especially look for out late payments which won't bode well.
- If you have just started using credit cards or taken a loan, you credit history will be fresh and won't be much to look at. In fact, most financial institutes tend to reject loans applications for applicants who don't have any credit history.
Low Credit Score
A credit score is considered as a rating on your credit history. Anything below 500 is considered a less than average score and many loan applicants are rejected for having a low credit score.
A low credit score basically says that your financial situation is poor, you aren't financially responsible and you don't make the monthly payments on time.
What can you do?
You will read plenty of articles offering you quick fixes and solutions to improve your credit score and other advice on how you can get an auto loan. However, there are no quick fixes, it will take months or a year to improve your credit history and score.
The fact is that you can't rely on a credit report or rating to say that you are not financially responsible or that you can't make the monthly payments. They clearly don't take into account any financial problems or family crisis.
Rather than wait, you can get a loan from Insta Auto Loans. Whether you have a bad credit or not, we understand our customer's situation and are happy to help you with an auto loan.
Monday 16 September 2013 at 01:14PM
Latest Version
Planned on buying a car, but your loan application got rejected? Well, that can really put a twist on things, especially if you are in need of a car. Before you look at your next options like re-applying or applying somewhere else, you need to go over why you were rejected. It will help you make the right move next instead of wasting time. It would be pretty foolish if you made the same mistake twice and got rejected for same reason as before.
Here's what you need know on why your auto loan application got rejected.
Poor Employment History
A financial institute runs a fine comb through your financial background before passing your loan application. For them, it is important that you are able to pay back the loan regularly. This involves having a stable job. They will look at how long you have managed to maintain a stable job. They will look for trends like whether you lost previous jobs after taking a loan. Most of all, they will look at your present employment history to check if you have a job and will be able to pay back the loan.
So either your employment history shows you don't hold a job for too long or you don't have one right now.
Bad Credit Report
- Your credit report contains valuable history on your income and debt situation. Poor income and high debt says you can't manage another loan.
- Financial institutes will check your personal experience with loans and repayment. They will especially look for out late payments which won't bode well.
- If you have just started using credit cards or taken a loan, you credit history will be fresh and won't be much to look at. In fact, most financial institutes tend to reject loans applications for applicants who don't have any credit history.
Low Credit Score
A credit score is considered as a rating on your credit history. Anything below 500 is considered a less than average score and many loan applicants are rejected for having a low credit score.
A low credit score basically says that your financial situation is poor, you aren't financially responsible and you don't make the monthly payments on time.
What can you do?
You will read plenty of articles offering you quick fixes and solutions to improve your credit score and other advice on how you can get an auto loan. However, there are no quick fixes, it will take months or a year to improve your credit history and score.
The fact is that you can't rely on a credit report or rating to say that you are not financially responsible or that you can't make the monthly payments. They clearly don't take into account any financial problems or family crisis.
Rather than wait, you can get a loan from Insta Auto Loans. Whether you have a bad credit or not, we understand our customer's situation and are happy to help you with an auto loan.
5 Buying tips you are overlooking
Wednesday 23 October 2013 at 11:06AM
Latest Version
When you announce you are going to buy a car, you will hear plenty of advice pouring in from family members and friends. They will preach about the best car to buy, the best dealership to go to and the best financial option for you. Plus, the Internet has plenty of articles on 'Top tips to buy a car'. The problem with them is that they list down the most obvious tips.
Well here are tips you haven't thought of or have overlooked.
1. Go for the Brand New Model
Some of your 'advisors' maybe telling you that buying a brand new model that hit the market is a risky business. They are not tried and tested by the consumer - what if there is a defect and what if it gets called back?
If you can afford it, always go for the latest model. It contains all the best and latest features, and the manufacturer fixes up any inconveniences from the old model. All cars that are released in the market go through rigorous testing for any problems. Finding an irreparable defect or facing a vehicle call back shouldn't be a worry because the chances of that happening are rare and even if it does happen, you will get compensated.
2. Get an Extended Warranty
You will hear that extended warranties are a waste of money or a scam. Not true! If you buy your warranty from a trusted and well-know company, then the extended warranty is very helpful. An extended warranty is great on saving up on those expensive repairs. If you ever land up with repairs that will empty your bank account, you won't regret it.
3. Be sure of the Price Trade of in a Car Trade-in
The price of giving your used car as trade in is subjective and depends on factors of how old it is, what condition it is in, what features it has, etc. When you sit down with the dealership sales person, be sure of the price you are trading it at. Do not assume it will be a good price! Confirm it!
4. Get a Loan even with Bad Credit
The general idea among people is that if you have a bad credit score, you won't get a car loan. This is not true. At Insta Auto Loan, we offer car loans to even those who have bad credit history. Taking a car loan is a good way to rebuild your credit situation.
5. A Used Car is a Good Idea
A used car is a great idea for anyone who is short on cash. If you're short on cash, you are forced to buy the most basic car in the market; however, if you go in for a used car, you get something better. A new car loses about 50% of its value when it's bought. Hence it is more affordable for you to buy it second hand.
Don't feel overwhelmed if you're buying your first car, do your research, get the financing ready and go out and get it!
Wednesday 23 October 2013 at 11:06AM
Latest Version
When you announce you are going to buy a car, you will hear plenty of advice pouring in from family members and friends. They will preach about the best car to buy, the best dealership to go to and the best financial option for you. Plus, the Internet has plenty of articles on 'Top tips to buy a car'. The problem with them is that they list down the most obvious tips.
Well here are tips you haven't thought of or have overlooked.
1. Go for the Brand New Model
Some of your 'advisors' maybe telling you that buying a brand new model that hit the market is a risky business. They are not tried and tested by the consumer - what if there is a defect and what if it gets called back?
If you can afford it, always go for the latest model. It contains all the best and latest features, and the manufacturer fixes up any inconveniences from the old model. All cars that are released in the market go through rigorous testing for any problems. Finding an irreparable defect or facing a vehicle call back shouldn't be a worry because the chances of that happening are rare and even if it does happen, you will get compensated.
2. Get an Extended Warranty
You will hear that extended warranties are a waste of money or a scam. Not true! If you buy your warranty from a trusted and well-know company, then the extended warranty is very helpful. An extended warranty is great on saving up on those expensive repairs. If you ever land up with repairs that will empty your bank account, you won't regret it.
3. Be sure of the Price Trade of in a Car Trade-in
The price of giving your used car as trade in is subjective and depends on factors of how old it is, what condition it is in, what features it has, etc. When you sit down with the dealership sales person, be sure of the price you are trading it at. Do not assume it will be a good price! Confirm it!
4. Get a Loan even with Bad Credit
The general idea among people is that if you have a bad credit score, you won't get a car loan. This is not true. At Insta Auto Loan, we offer car loans to even those who have bad credit history. Taking a car loan is a good way to rebuild your credit situation.
5. A Used Car is a Good Idea
A used car is a great idea for anyone who is short on cash. If you're short on cash, you are forced to buy the most basic car in the market; however, if you go in for a used car, you get something better. A new car loses about 50% of its value when it's bought. Hence it is more affordable for you to buy it second hand.
Don't feel overwhelmed if you're buying your first car, do your research, get the financing ready and go out and get it!
Tips for buying car insurance with bad credit
Monday 04 November 2013 at 10:55AM
Latest Version
If you cherish your car as a worthwhile investment and not just a luxury, it makes sense to buy car insurance to make sure you can repair and maintain it in unforeseen circumstances. If you look into the insurance market, you will find that the number of options available to you are mind boggling. How then would you go about picking the right kind of insurance for your car? Here are some tips to help deal with the complex and stressful process of buying insurance.
1. Don't go overboard with your research
It is likely that when faced with so many choices, you would like to look into them a little deeper to make sure you are picking the right one. But you don't need to evaluate every single option because the time this will take will not be worth the fraction of money you save. Instead, assess the factors that might affect your insurance and pick a quote. These factors will include your car's previous performance, its mileage, where you live, any discounts available because of the safety features, good driving or work and your credit rating.
2. Make sure you understand your coverage
Most insurance policies are heavily worded and complicated. The insurance company will try to cover all bases in which you can be covered if something goes wrong. Additionally, there might still be a lot of different ways in which your insurance doesn't cover you. Before investing in a policy, you should make notes in simple English of what you insurance includes and doesn't. This will help to avoid future problems where you may have wrongly assumed coverage and then have to pay from your own pocket.
3. Ask your dealer for recommendations
If you want to make short work of your policy research, you should consult your dealer for recommendations about where you can get a good insurance deal. They have been in the business long enough to assess what customers usually need from a policy and are better placed to make suggestions. Of course, you will have to look into them and pick which suits you best, but that's a good head start.
Monday 04 November 2013 at 10:55AM
Latest Version
If you cherish your car as a worthwhile investment and not just a luxury, it makes sense to buy car insurance to make sure you can repair and maintain it in unforeseen circumstances. If you look into the insurance market, you will find that the number of options available to you are mind boggling. How then would you go about picking the right kind of insurance for your car? Here are some tips to help deal with the complex and stressful process of buying insurance.
1. Don't go overboard with your research
It is likely that when faced with so many choices, you would like to look into them a little deeper to make sure you are picking the right one. But you don't need to evaluate every single option because the time this will take will not be worth the fraction of money you save. Instead, assess the factors that might affect your insurance and pick a quote. These factors will include your car's previous performance, its mileage, where you live, any discounts available because of the safety features, good driving or work and your credit rating.
2. Make sure you understand your coverage
Most insurance policies are heavily worded and complicated. The insurance company will try to cover all bases in which you can be covered if something goes wrong. Additionally, there might still be a lot of different ways in which your insurance doesn't cover you. Before investing in a policy, you should make notes in simple English of what you insurance includes and doesn't. This will help to avoid future problems where you may have wrongly assumed coverage and then have to pay from your own pocket.
3. Ask your dealer for recommendations
If you want to make short work of your policy research, you should consult your dealer for recommendations about where you can get a good insurance deal. They have been in the business long enough to assess what customers usually need from a policy and are better placed to make suggestions. Of course, you will have to look into them and pick which suits you best, but that's a good head start.
Can you improve your credit score to get a car loan in time?
Friday 20 December 2013 at 11:19PM
Latest Version
Have you ever toyed with the idea of buying a car but are not sure if you have the credit in order to do so? If you have a bad credit score, you may end up paying more for your car in interest than you would normally have.
What conditions give you a poor credit score?
There are many ways you can avoid getting a poor credit score that will make your car loan suffer. Follow these tips to avoid getting into the wrong side with the creditors, but if you do end up there due to unavoidable circumstances, don't worry, we will follow this up with advice on how to improve the situation.
1. Bankruptcy
It does become difficult to keep you afloat in finances in this current economy. If you have a record of bankruptcy on your account, it may affect your credit score negatively. But don't worry - there are many avenues such as Insta Auto Loan that provide financial help especially to people who have filed bankruptcy or are experiencing credit issues.
2. Bills overdue
If you have been unable to keep up with the regular bill payments, the credit companies will take it out by dropping your credit scores. So even if you are stretched thin with your finances, try not to skip too many payments at once.
3. Be out of reach
The biggest mistake you can make is to fall off the grid when the credit companies are trying to get in touch with you about outstanding payments. This will permanently scar your credit history and impact all future credit actions.
How can you improve your credit score?
If you are planning to make a huge payment on your credit card, like take out a car loan, you must make sure that your credit situation is improved as much as possible so that you do not accumulate more debt than you already have. Some of the ways you can help yourself is by doing the following.
1. Pay your bills
Making regular monthly payments on your credit card is essential, but if you are having trouble arranging that, you should at least make the minimum payments on time and speak with your creditors to arrange a repayment plan that you can afford.
2. Buy the car
Creditors are happy to see you make large payments on your credit card as this means they'll be making more profits. So buy the car that you need but make sure you keep up with your monthly payments as well. This will make a good impression on the company and your score will improve.
3. Credit scores can change quickly
Never underestimate the change you can bring to your credit score in a short time by following up with your payments regularly and changing a few other financial habits. Therefore it is never too late to improve your situation.
Friday 20 December 2013 at 11:19PM
Latest Version
Have you ever toyed with the idea of buying a car but are not sure if you have the credit in order to do so? If you have a bad credit score, you may end up paying more for your car in interest than you would normally have.
What conditions give you a poor credit score?
There are many ways you can avoid getting a poor credit score that will make your car loan suffer. Follow these tips to avoid getting into the wrong side with the creditors, but if you do end up there due to unavoidable circumstances, don't worry, we will follow this up with advice on how to improve the situation.
1. Bankruptcy
It does become difficult to keep you afloat in finances in this current economy. If you have a record of bankruptcy on your account, it may affect your credit score negatively. But don't worry - there are many avenues such as Insta Auto Loan that provide financial help especially to people who have filed bankruptcy or are experiencing credit issues.
2. Bills overdue
If you have been unable to keep up with the regular bill payments, the credit companies will take it out by dropping your credit scores. So even if you are stretched thin with your finances, try not to skip too many payments at once.
3. Be out of reach
The biggest mistake you can make is to fall off the grid when the credit companies are trying to get in touch with you about outstanding payments. This will permanently scar your credit history and impact all future credit actions.
How can you improve your credit score?
If you are planning to make a huge payment on your credit card, like take out a car loan, you must make sure that your credit situation is improved as much as possible so that you do not accumulate more debt than you already have. Some of the ways you can help yourself is by doing the following.
1. Pay your bills
Making regular monthly payments on your credit card is essential, but if you are having trouble arranging that, you should at least make the minimum payments on time and speak with your creditors to arrange a repayment plan that you can afford.
2. Buy the car
Creditors are happy to see you make large payments on your credit card as this means they'll be making more profits. So buy the car that you need but make sure you keep up with your monthly payments as well. This will make a good impression on the company and your score will improve.
3. Credit scores can change quickly
Never underestimate the change you can bring to your credit score in a short time by following up with your payments regularly and changing a few other financial habits. Therefore it is never too late to improve your situation.
How does auto financing help after a divorce?
Wednesday 22 January 2014 at 11:04AM
Latest Version
Divorce is not easy to go through, it is an emotional and financial ordeal. Parting with someone who you promised to spend the rest of your life with leaves you in a perilous state. You feel like you're in a hurricane, with your life and finances spinning. You will have to restructure your finances because it probably got split with your ex-spouse.
When you get divorced, you are so focused on the process and dealing with the legal aspects that you may find yourself with a messy financial situation later on. Here's what you can expect.
- Your Credit just Got Tanked
Being so focused on the divorce, you probably missed many debt payments which would have a severe effect on your credit score. Additionally, any loans you have co-signed together will have to be dealt with. At times, you will land with the whole responsibility of joint debt after the divorce.
- You Lose the Car
You could very well be left without a car after the divorce. Chances are that your ex-spouse got awarded the car. The car could also be under joint ownership. In such a case, the best thing to do would be to sell it and divide the money. It will still result in the same thing – no car.
This can be a major problem if your lifestyle and work environment requires you to have a car.
- In Debt with Legal Fees
The longer the legal proceedings take, the more expenses you will have to pay the lawyer hired. Lawyers are not cheap and they can pose a serious financial drain as your battle for your children and assets drags on.
Recover your Credit with a Car
You need a car, but you can't afford one, your next best option is to buy a car using a loan, however with your tanked credit score, getting a car loan is quite difficult.
This is where Insta Auto Loan comes in. We provide auto loans to even those who have a bad credit score.
- Why should you take a loan when you are having financial troubles?
It may look like it is counter-productive to take a loan when you are having trouble keeping money in the bank, but an auto loan can actually improve your credit score.
An auto loan gives you an opportunity to make your monthly payments which will improve your credit history and in turn, your credit score. Since other lending agencies won't give you this opportunity, credit from Insta Auto Loan will help you get your finances back on track.
Keep yourself strong and your credit standing even stronger.
Wednesday 22 January 2014 at 11:04AM
Latest Version
Divorce is not easy to go through, it is an emotional and financial ordeal. Parting with someone who you promised to spend the rest of your life with leaves you in a perilous state. You feel like you're in a hurricane, with your life and finances spinning. You will have to restructure your finances because it probably got split with your ex-spouse.
When you get divorced, you are so focused on the process and dealing with the legal aspects that you may find yourself with a messy financial situation later on. Here's what you can expect.
- Your Credit just Got Tanked
Being so focused on the divorce, you probably missed many debt payments which would have a severe effect on your credit score. Additionally, any loans you have co-signed together will have to be dealt with. At times, you will land with the whole responsibility of joint debt after the divorce.
- You Lose the Car
You could very well be left without a car after the divorce. Chances are that your ex-spouse got awarded the car. The car could also be under joint ownership. In such a case, the best thing to do would be to sell it and divide the money. It will still result in the same thing – no car.
This can be a major problem if your lifestyle and work environment requires you to have a car.
- In Debt with Legal Fees
The longer the legal proceedings take, the more expenses you will have to pay the lawyer hired. Lawyers are not cheap and they can pose a serious financial drain as your battle for your children and assets drags on.
Recover your Credit with a Car
You need a car, but you can't afford one, your next best option is to buy a car using a loan, however with your tanked credit score, getting a car loan is quite difficult.
This is where Insta Auto Loan comes in. We provide auto loans to even those who have a bad credit score.
- Why should you take a loan when you are having financial troubles?
It may look like it is counter-productive to take a loan when you are having trouble keeping money in the bank, but an auto loan can actually improve your credit score.
An auto loan gives you an opportunity to make your monthly payments which will improve your credit history and in turn, your credit score. Since other lending agencies won't give you this opportunity, credit from Insta Auto Loan will help you get your finances back on track.
Keep yourself strong and your credit standing even stronger.
Is buying a car a good idea when you are in a bad credit situation?
Wednesday 19 Febuary 2014 at 10:17AM
Latest Version
Are you thinking that taking a loan is a bad idea, because you've got bad credit? If you got bad credit, chances are that your financial situation is not good either. You may have bad credit because of bankruptcy, job loss, an injury or just too much debt.
So why is taking an auto loan, in such situations, actually a good idea? Won't it be better to consolidate your debt, try to manage and pay off the ones you have before taking on another one? No! Here's why.
The World of Credit
The world of credit is not financially perfect. You know this better than anyone as your personal debt has already taken a toll on you. Getting an auto loan opens an opportunity for you to improve your credit standing. However, the problem is that you won't get an auto loan from lenders because of your poor credit. Insta Auto Loan, on the other hand, offers a loan despite of what your credit score is.
Improving your credit is one of the best things you can do after your financial standing has taken a beating. Taking an auto loan gives you that opportunity.
Monthly Payment
Any debt expert will tell you that the best way to maintain a good credit score is to keep making those monthly payments. By taking on an auto loan, you have the opportunity to consistently pay the monthly payments.
Your consistency will be reported to the two credit bureaus – Equifax and TansUnion Canada who will take it into account and slowly increase your credit score.
Type of Credit
The more types of credit you have, the better is your credit score. By virtually doing nothing excepttaking an auto loan, you improve your credit score by simply having another type of credit.
Re-build your Credit History
Credit history simply refers to your ability to repay debts in the past. With a bad credit score, you probably have not been able to keep up to paying your debts regularly which points to a bad credit history. By taking a fresh auto loan and regularly paying the monthly debt, you can re-build your credit history.
Get a Car
You may be without a car right now because you had to sell it off to gain some income. A car is a must for picking yourself and recovering your finances. You need it to simply travel to your work place or because your job requires it.
This is especially a good idea if you can't afford your own car right now.
If you are stuck in a hard place where re-building your credit is the objective and a car can help you get your life in order, then an auto loan is quite a good idea.
Wednesday 19 Febuary 2014 at 10:17AM
Latest Version
Are you thinking that taking a loan is a bad idea, because you've got bad credit? If you got bad credit, chances are that your financial situation is not good either. You may have bad credit because of bankruptcy, job loss, an injury or just too much debt.
So why is taking an auto loan, in such situations, actually a good idea? Won't it be better to consolidate your debt, try to manage and pay off the ones you have before taking on another one? No! Here's why.
The World of Credit
The world of credit is not financially perfect. You know this better than anyone as your personal debt has already taken a toll on you. Getting an auto loan opens an opportunity for you to improve your credit standing. However, the problem is that you won't get an auto loan from lenders because of your poor credit. Insta Auto Loan, on the other hand, offers a loan despite of what your credit score is.
Improving your credit is one of the best things you can do after your financial standing has taken a beating. Taking an auto loan gives you that opportunity.
Monthly Payment
Any debt expert will tell you that the best way to maintain a good credit score is to keep making those monthly payments. By taking on an auto loan, you have the opportunity to consistently pay the monthly payments.
Your consistency will be reported to the two credit bureaus – Equifax and TansUnion Canada who will take it into account and slowly increase your credit score.
Type of Credit
The more types of credit you have, the better is your credit score. By virtually doing nothing excepttaking an auto loan, you improve your credit score by simply having another type of credit.
Re-build your Credit History
Credit history simply refers to your ability to repay debts in the past. With a bad credit score, you probably have not been able to keep up to paying your debts regularly which points to a bad credit history. By taking a fresh auto loan and regularly paying the monthly debt, you can re-build your credit history.
Get a Car
You may be without a car right now because you had to sell it off to gain some income. A car is a must for picking yourself and recovering your finances. You need it to simply travel to your work place or because your job requires it.
This is especially a good idea if you can't afford your own car right now.
If you are stuck in a hard place where re-building your credit is the objective and a car can help you get your life in order, then an auto loan is quite a good idea.
Should you sell your car before buying a new one?
Wednesday 05 March 2014 at 10:41AM
Latest Version
If you are planning to upgrade your car, and want to sell off your old one, you may often be confused about which order to do those in. Selling the old car before buying another one will make some space in your garage and add a decent amount to the car purchase fund. However, you also don't want to sell your car too soon and settle for less than what it is worth.
Here are some reasons why selling your car before buying a new one s a good idea.
1. Uncertain waiting period
When you have put your car on the market, there is no telling when you will finally be able to sell your car. The right deal may come along within days or weeks or your car can be on the market for months without attracting many buyers.
2. Hassle with private trading
If you are planning to sell your car yourself, you will have to make sure that word gets out that your car is on sale. This means putting advertisements in newspapers and printing flyers which will cost you money. You will also have to handle the incoming traffic of interested buyers, taking calls and meeting people, which could take a lot of your time and interrupt your work.
3. Pricing right
The used cars business is a buyer's market. There are a lot of factors to keep in mind when deciding on the asking price, such as the current price and market for the model, the repairs and additional upgrades in your car, fuel consumption etc. Therefore, there may be chances that you will have to negotiate into selling your car at a price much lesser than what it is worth.
One way to avoid the stress and uncertainty while selling your old car is to sell it to a dealership. You could trade your old model at the car dealer's for the new one. This will not only save you some money on the new car, but also prevent you the paperwork and inconvenience in trying to do it yourself.
Wednesday 05 March 2014 at 10:41AM
Latest Version
If you are planning to upgrade your car, and want to sell off your old one, you may often be confused about which order to do those in. Selling the old car before buying another one will make some space in your garage and add a decent amount to the car purchase fund. However, you also don't want to sell your car too soon and settle for less than what it is worth.
Here are some reasons why selling your car before buying a new one s a good idea.
1. Uncertain waiting period
When you have put your car on the market, there is no telling when you will finally be able to sell your car. The right deal may come along within days or weeks or your car can be on the market for months without attracting many buyers.
2. Hassle with private trading
If you are planning to sell your car yourself, you will have to make sure that word gets out that your car is on sale. This means putting advertisements in newspapers and printing flyers which will cost you money. You will also have to handle the incoming traffic of interested buyers, taking calls and meeting people, which could take a lot of your time and interrupt your work.
3. Pricing right
The used cars business is a buyer's market. There are a lot of factors to keep in mind when deciding on the asking price, such as the current price and market for the model, the repairs and additional upgrades in your car, fuel consumption etc. Therefore, there may be chances that you will have to negotiate into selling your car at a price much lesser than what it is worth.
One way to avoid the stress and uncertainty while selling your old car is to sell it to a dealership. You could trade your old model at the car dealer's for the new one. This will not only save you some money on the new car, but also prevent you the paperwork and inconvenience in trying to do it yourself.
Get your car financed even before entering the showroom
Monday 28 April 2014 at 10:23AM
Latest Version
Wouldn't you rather have your cash in hand when you enter a dealership to buy a car? However, if your bank account does not have enough money, there are many financial options for you. All dealerships have their own loan options and tie-ups with financial institutions.
- While you do have negotiating power and the dealership will do their best to find a financial solution that you like, they have limitations. This comes out of the fact that they are a dealership and not a financial institution. Worse yet, often most dealerships have their hands tied if you come in with a bad credit score.
- Bad credit doesn't spell a good deal in the financial world and a dealership may even be unable to give you a loan.
- This is bad because when you spend time hunting for a car in various dealerships and finally settle down on one, you have to walk away as they don't have the right financial options for you. In short, all your efforts were a complete waste of time and energy.
- Guaranteeing your financing before you walk into a dealership store is a fantastic way to ensure you get the car. Then all that remains is to walk into the dealership, select the car and hand over your auto loan papers.
Use Insta Auto Loan
At Insta Auto Loan, you can get an auto loan within 24 hours. It does not matter even if you have bad credit. We allot the loan without any credit discrimination.
Apply Online
There is no need to visit your bank and ask for a loan. You can directly apply for an auto loan online. You will have to fill in details about your personal, employment and financial history.
Get an Affordable Rate
Just because you have a bad credit score does not mean you shouldn't get access to a good interest rate. Insta Auto Loan ensures you get an affordable rate that suits your financial situation.
Go to the Right Dealership
Additionally, Insta Auto Loan is tied up with dealerships and you can find out which dealerships these are. This way, they are friendlier to your auto loan and won't create any hassle when accepting it.
Avoid Down payment
In some cases, you may be able to avoid down payment altogether. It depends on your credit score. Even if you have a bad credit score, it may not be as terrible as you think. Using Insta Auto Loan, you maybe able to negotiate with the dealership and avoid a large down payment.
We have heard of too many instances of customers spending a lot of time trying to get a loan, but they are unable to because of their bad credit score. However, if you enter a dealership with your financial options ready, then it won't be a problem. You save yourself time and energy and get a car as soon as possible.
Monday 28 April 2014 at 10:23AM
Latest Version
Wouldn't you rather have your cash in hand when you enter a dealership to buy a car? However, if your bank account does not have enough money, there are many financial options for you. All dealerships have their own loan options and tie-ups with financial institutions.
- While you do have negotiating power and the dealership will do their best to find a financial solution that you like, they have limitations. This comes out of the fact that they are a dealership and not a financial institution. Worse yet, often most dealerships have their hands tied if you come in with a bad credit score.
- Bad credit doesn't spell a good deal in the financial world and a dealership may even be unable to give you a loan.
- This is bad because when you spend time hunting for a car in various dealerships and finally settle down on one, you have to walk away as they don't have the right financial options for you. In short, all your efforts were a complete waste of time and energy.
- Guaranteeing your financing before you walk into a dealership store is a fantastic way to ensure you get the car. Then all that remains is to walk into the dealership, select the car and hand over your auto loan papers.
Use Insta Auto Loan
At Insta Auto Loan, you can get an auto loan within 24 hours. It does not matter even if you have bad credit. We allot the loan without any credit discrimination.
Apply Online
There is no need to visit your bank and ask for a loan. You can directly apply for an auto loan online. You will have to fill in details about your personal, employment and financial history.
Get an Affordable Rate
Just because you have a bad credit score does not mean you shouldn't get access to a good interest rate. Insta Auto Loan ensures you get an affordable rate that suits your financial situation.
Go to the Right Dealership
Additionally, Insta Auto Loan is tied up with dealerships and you can find out which dealerships these are. This way, they are friendlier to your auto loan and won't create any hassle when accepting it.
Avoid Down payment
In some cases, you may be able to avoid down payment altogether. It depends on your credit score. Even if you have a bad credit score, it may not be as terrible as you think. Using Insta Auto Loan, you maybe able to negotiate with the dealership and avoid a large down payment.
We have heard of too many instances of customers spending a lot of time trying to get a loan, but they are unable to because of their bad credit score. However, if you enter a dealership with your financial options ready, then it won't be a problem. You save yourself time and energy and get a car as soon as possible.
Guaranteed car financing for more than just the car
Tuesday 20 May 2014 at 11:13AM
Latest Version
Buying a car is one of the largest payments you will make. If you have managed to get a car loan despite your low credit score, take care that the final amount you pay does not contain expenses that you don't need. Here are a few things to watch out for when deciding on the financing for more than just your car.
1. Terms of the loan
No matter what your financial situation, you can always negotiate the interest rates and payment plans to suit you. Make sure that the terms of your loan are clearly specified on your contract, especially with regard to changeable interest rates, prepayment penalties etc. Make sure you do not sign for any ambiguous clauses such as 'subject to approval or financing' statements.
2. Extended warranties
You can get your hands on extended warranties even if you are getting your car financed. Often, dealerships will have special extended warranties on offer with the car you are buying.
3. Insurance
Your financial options also help out with the insurance. The insurance you get will suit your needs and just because you are buying car on credit does not mean you can't push for good insurance rates.
4. Stick with the Dealer for additional work
You may have a lot people advice you that it is better get the additional work done on the car at the local garage. Work out with the dealership the various modifications that you want. Since you have a working relationship with dealership and using financing options, they will have good offers for you on the table. In the long run, you will get a complete package which will be cheaper compared to going to an outside garage.
Many people who take credit to finance a car assume they don't have a lot of options apart from buying the car. This is not true. Terms of the loan, warranty, insurance, etc. are still under your control and you can get financed for them.
Tuesday 20 May 2014 at 11:13AM
Latest Version
Buying a car is one of the largest payments you will make. If you have managed to get a car loan despite your low credit score, take care that the final amount you pay does not contain expenses that you don't need. Here are a few things to watch out for when deciding on the financing for more than just your car.
1. Terms of the loan
No matter what your financial situation, you can always negotiate the interest rates and payment plans to suit you. Make sure that the terms of your loan are clearly specified on your contract, especially with regard to changeable interest rates, prepayment penalties etc. Make sure you do not sign for any ambiguous clauses such as 'subject to approval or financing' statements.
2. Extended warranties
You can get your hands on extended warranties even if you are getting your car financed. Often, dealerships will have special extended warranties on offer with the car you are buying.
3. Insurance
Your financial options also help out with the insurance. The insurance you get will suit your needs and just because you are buying car on credit does not mean you can't push for good insurance rates.
4. Stick with the Dealer for additional work
You may have a lot people advice you that it is better get the additional work done on the car at the local garage. Work out with the dealership the various modifications that you want. Since you have a working relationship with dealership and using financing options, they will have good offers for you on the table. In the long run, you will get a complete package which will be cheaper compared to going to an outside garage.
Many people who take credit to finance a car assume they don't have a lot of options apart from buying the car. This is not true. Terms of the loan, warranty, insurance, etc. are still under your control and you can get financed for them.
6 tricks for getting the cheapest used car deal
Friday 20 June 2014 at 10:31AM
Latest Version
Chances are that buying a used car is a good option for you if you are in a cash crunch and taking a loan. Getting a used car allows you to aim higher and get a good car that is not in the cheapest range, yet considering you are in a cash crunch, you do want the cheapest deal you can get.
Be Open-Minded
If you love cars, then it is easy to get fixated on that sports car. You are narrowing down your options, and you are not getting the best deals offered by the dealers. Being open minded allows you to:
Friday 20 June 2014 at 10:31AM
Latest Version
Chances are that buying a used car is a good option for you if you are in a cash crunch and taking a loan. Getting a used car allows you to aim higher and get a good car that is not in the cheapest range, yet considering you are in a cash crunch, you do want the cheapest deal you can get.
Be Open-Minded
If you love cars, then it is easy to get fixated on that sports car. You are narrowing down your options, and you are not getting the best deals offered by the dealers. Being open minded allows you to:
- Look for any other suitable cars you may come across.
- Be ready to walk away if the dealership is not willing to compromise. Walking away may in fact force the dealership to reconsider his position and offer you a car to work with your budget.
Do a Bit of Research
Researching on the cars in the market is a good way to prep yourself up for the car hunt. You should build a list of cars you are interested in, the price range of those cars, the mileage you want, etc. There are plenty of reviews online which analyse the car models, so you can find out the pros and cons, and decide if it suits your needs.
Check the Vehicle History Report
Every used car will have a vehicle history report. It tells you about the previous owner, the accidents the car has gone through, and any other interesting details. A thorough read could possibly reveal details about how the price could be lowered more.
Test Drive the Car
Take the car out for a drive. The objective of this is two-fold – to get a feel for the car and to find any faults. Does the steering wheel feel tight? Is the suspension out of balance? Are the breaks in a bad condition?
Negotiation
A dealership expects their customers to negotiate so they always have room for it in their asking price. It is up to you to bring up points on why the dealership should lower the price of the car.
Using all the information you have collected, you can present reasons to lower the price.
Researching on the cars in the market is a good way to prep yourself up for the car hunt. You should build a list of cars you are interested in, the price range of those cars, the mileage you want, etc. There are plenty of reviews online which analyse the car models, so you can find out the pros and cons, and decide if it suits your needs.
Check the Vehicle History Report
Every used car will have a vehicle history report. It tells you about the previous owner, the accidents the car has gone through, and any other interesting details. A thorough read could possibly reveal details about how the price could be lowered more.
Test Drive the Car
Take the car out for a drive. The objective of this is two-fold – to get a feel for the car and to find any faults. Does the steering wheel feel tight? Is the suspension out of balance? Are the breaks in a bad condition?
Negotiation
A dealership expects their customers to negotiate so they always have room for it in their asking price. It is up to you to bring up points on why the dealership should lower the price of the car.
Using all the information you have collected, you can present reasons to lower the price.
- Compare it with the market price of same model.
- A read of the vehicle history report would have revealed negative parts.
- A test drive would have shown some faults in the car.
Every negative aspect that you find in the car is a reason for the car dealer to lower the price.
Get a Good Deal
Even though you are looking for the cheapest car deal, you want a car that will run comfortably. Too many negative points does not bode well for the car, even if you can get a cheap deal. So make your choice carefully and find a trustworthy dealership.
Get a Good Deal
Even though you are looking for the cheapest car deal, you want a car that will run comfortably. Too many negative points does not bode well for the car, even if you can get a cheap deal. So make your choice carefully and find a trustworthy dealership.
How can you manage your auto-loan if you lose your job?
Monday 21 July 2014 at 8:23AM
Latest Version
Losing your job can come as a shock. Your life goes out of order and you don't have a constant flow of income coming in. There is only so much time for your savings to survive and you have to figure out what's to be done with your debt. If the economy is hit bad, then you may very well not be able to find another job for a year.
When you lose your job, you’re in a pickle. In a few months time, you may not have enough money in your bank account to support you, so perhaps even entertaining debt bills is not an option.
Do not give back the Car
It may be tempting to try and get rid of the debt by returning the car. The option of voluntary repossession may look very appealing. You allow the lending agency to repose the car at any time and prevent yourself from defaulting on the loan.
Though you save yourself from defaulting on the auto loan, it will negatively impact your credit history.
Keep Paying the Car Loan
'Don't pay the debt bills' – this thought will cross your mind. This is the worst choice you can make. As you avoid your auto loan debt, your credit score will slowly decrease. Further, you may have a collection agency come after you. When your car is finally repossessed by force, your credit score will be trashed. So, how can you keep paying the car loan with no job?
- Budgeting
Keep a tight control on your expenses through budgeting. By planning your spending, you ensure none of it is wasted. This is a superb way to increase your saving.
- Always Keep Aside Sufficient Funds for Loan Payment
In your budgeting, set aside money for your auto loan so that you always have sufficient cash for the debt payment at the end of the month.
Why do you want a Good Credit Score?
Because you have lost your job, maintaining a good credit score is even more important.
- Keeping your credit score is easier than rebuilding it
Rebuilding your credit is tough. You have to change your image of an irresponsible borrower into a responsible one. This will be even tougher if you still don't have a job.
- Getting Fresh Credit will be Difficult
The lower your credit score, the harder it will be to get a loan. When you are out of a job, you will begin to heavily depend on your credit. What happens if you can't get a loan because of your bad credit score?
Get in Touch with your Lender Agency
For those of us at Insta Auto Loan, we are sensitive to our customer's problems. Get in touch with us and we can discuss an appropriate solution, which may include steps to:
- Lower the Interest rate
- Reduce the minimum amount
- Defer the auto-loan payment to another time period
You do have options that don't result in loss of the car and a negative impact on your credit score. All you gotta be is aware.
Monday 21 July 2014 at 8:23AM
Latest Version
Losing your job can come as a shock. Your life goes out of order and you don't have a constant flow of income coming in. There is only so much time for your savings to survive and you have to figure out what's to be done with your debt. If the economy is hit bad, then you may very well not be able to find another job for a year.
When you lose your job, you’re in a pickle. In a few months time, you may not have enough money in your bank account to support you, so perhaps even entertaining debt bills is not an option.
Do not give back the Car
It may be tempting to try and get rid of the debt by returning the car. The option of voluntary repossession may look very appealing. You allow the lending agency to repose the car at any time and prevent yourself from defaulting on the loan.
Though you save yourself from defaulting on the auto loan, it will negatively impact your credit history.
Keep Paying the Car Loan
'Don't pay the debt bills' – this thought will cross your mind. This is the worst choice you can make. As you avoid your auto loan debt, your credit score will slowly decrease. Further, you may have a collection agency come after you. When your car is finally repossessed by force, your credit score will be trashed. So, how can you keep paying the car loan with no job?
- Budgeting
Keep a tight control on your expenses through budgeting. By planning your spending, you ensure none of it is wasted. This is a superb way to increase your saving.
- Always Keep Aside Sufficient Funds for Loan Payment
In your budgeting, set aside money for your auto loan so that you always have sufficient cash for the debt payment at the end of the month.
Why do you want a Good Credit Score?
Because you have lost your job, maintaining a good credit score is even more important.
- Keeping your credit score is easier than rebuilding it
Rebuilding your credit is tough. You have to change your image of an irresponsible borrower into a responsible one. This will be even tougher if you still don't have a job.
- Getting Fresh Credit will be Difficult
The lower your credit score, the harder it will be to get a loan. When you are out of a job, you will begin to heavily depend on your credit. What happens if you can't get a loan because of your bad credit score?
Get in Touch with your Lender Agency
For those of us at Insta Auto Loan, we are sensitive to our customer's problems. Get in touch with us and we can discuss an appropriate solution, which may include steps to:
- Lower the Interest rate
- Reduce the minimum amount
- Defer the auto-loan payment to another time period
You do have options that don't result in loss of the car and a negative impact on your credit score. All you gotta be is aware.
6 advantages of buying a used car
Monday 25 August 2014 at 02:09PM
Latest Version
Almost everyone who plans on buying a used car for the first time re-thinks their decision ten times over. Even if you are taking a loan to buy a car, you will ask yourself, "Am I making the right decision?" There are plenty of misconception and worries when it comes to buying a used car. There is definitely a sense of safety when it comes to buying a new car that has a warranty. Yet, there are some positives aspects in opting for a used car.
1. Price
Let's be honest, the most obvious benefit about a buying a used car is the price. Whether you are paying from your own pocket or a loan, the financial strain is going to be easier than buying a new car. Not only that, because the price is significantly cheaper, you do not have to go for the cheapest car in the market. Rather, you can go for one that has good power and is comfortable. If you can push the limit of the loan amount, you can even buy the second hand version of dream car you wanted.
Additionally, a new car will require 10% down payment. However, for a used car that's not the case. It can go as low as 5%.
2. Lower Depreciation Value
Whether it is a new or used car, it is going to depreciate in value. However, a used car is going to depreciate even slower than a new one. New cars lose as much as 40% of value in the first year of their purchase. That is not the case for used cars. So, if you re-sell the car later on, you will recover a significant amount of what you actually paid for it.
3. Option of Certified Vehicles
One of the safest sources of buying used cars is through a certified dealer. The used car comes with service guarantee and an extended warranty, just like a new car would have. The car has been thoroughly tested by the car dealer and hence, you are not likely to encounter major problems. This is because certified dealers have extensive inspections and repairs for every used car.
4. Cheaper Insurance
An added benefit of buying a used car, and most don't realise it, is cheaper insurance. The rates are not as high as a new vehicle would be. It is a good point to negotiate with the insurance firm to lower their insurance rates.
5. Lower Registration Fees
The fees for registration of a used vehicle are significantly lesser than a new vehicle.
6. Lower Loan Rates
If you are taking a loan to buy the car, you will be eligible for lower loan rates, even if you are applying with Insta Auto Loan. Plus, the loan will be of a lesser amount, hence a lower financial strain on you.
All in all, a used car deal will save you cash and if you go to the right dealer, you will get a car in good working condition.
Monday 25 August 2014 at 02:09PM
Latest Version
Almost everyone who plans on buying a used car for the first time re-thinks their decision ten times over. Even if you are taking a loan to buy a car, you will ask yourself, "Am I making the right decision?" There are plenty of misconception and worries when it comes to buying a used car. There is definitely a sense of safety when it comes to buying a new car that has a warranty. Yet, there are some positives aspects in opting for a used car.
1. Price
Let's be honest, the most obvious benefit about a buying a used car is the price. Whether you are paying from your own pocket or a loan, the financial strain is going to be easier than buying a new car. Not only that, because the price is significantly cheaper, you do not have to go for the cheapest car in the market. Rather, you can go for one that has good power and is comfortable. If you can push the limit of the loan amount, you can even buy the second hand version of dream car you wanted.
Additionally, a new car will require 10% down payment. However, for a used car that's not the case. It can go as low as 5%.
2. Lower Depreciation Value
Whether it is a new or used car, it is going to depreciate in value. However, a used car is going to depreciate even slower than a new one. New cars lose as much as 40% of value in the first year of their purchase. That is not the case for used cars. So, if you re-sell the car later on, you will recover a significant amount of what you actually paid for it.
3. Option of Certified Vehicles
One of the safest sources of buying used cars is through a certified dealer. The used car comes with service guarantee and an extended warranty, just like a new car would have. The car has been thoroughly tested by the car dealer and hence, you are not likely to encounter major problems. This is because certified dealers have extensive inspections and repairs for every used car.
4. Cheaper Insurance
An added benefit of buying a used car, and most don't realise it, is cheaper insurance. The rates are not as high as a new vehicle would be. It is a good point to negotiate with the insurance firm to lower their insurance rates.
5. Lower Registration Fees
The fees for registration of a used vehicle are significantly lesser than a new vehicle.
6. Lower Loan Rates
If you are taking a loan to buy the car, you will be eligible for lower loan rates, even if you are applying with Insta Auto Loan. Plus, the loan will be of a lesser amount, hence a lower financial strain on you.
All in all, a used car deal will save you cash and if you go to the right dealer, you will get a car in good working condition.
Can you trade in your car if you still owe money?
Monday 22 September 2014 at 10:24AM
Latest Version
When you are buying a new car, your old one has two options. You can either sell it off or trade it in. The question is what happens to the car loan if you have not paid it off. You may want a new car because you're tired of your old one, you have new transportation needs or you want to give your freshly graduated child a new car. No matter the reason, you still have to deal with the debt.
Trading-in Your Car
Trading-in your car is a good idea simply because you are building a relationship with your dealership. It is a fantastic way to get the best price for your new car. You will be granted concessions on the car and any accessories you buy. Your relationship with the car dealership grows as the number of financial transactions increases.
The Vehicle Debt
The main concern for a dealership when trading in a used car is the debt amount it is under. He will ask you what the pay off value is. If you have no idea, get in touch with your lender agency and find out. Depending on the pay off and the trade in value, the dealership will make a decision.
If your pay off is lower than the trade-in value of your vehicle, it is a fairly simple decision. You have money to pay off the remaining debt. You will be able to clear off your debt and still have some money for your new car. However, what if the debt pay-off remaining is higher than the trade-in value of the car?
Trading in While Upside Down
If the auto loan debt is more that the trade-in value of the car, it is known as an upside down on your car loan. This can have negative effects on your decision to trade in your car and get a new vehicle. In such a situation, you have two options:
1. Pay the Remaining Debt
You can pay the balanced debt after trading in your car. If you do not have the sufficient funds, you can consider borrowing money and paying for it. This move will completely rid the old auto loan debt off your hands.
2. Carry it Forward
The other option is to carry forward the balanced debt onto your next car loan. However, this should not be done lightly, especially, if you don't have good credit. Your lender will subject you to a high interest rate.
What Insta Auto Loan Thinks
The primary aim of trading in your old car for a new one is to get a good value, good price and save some money. If it looks like the debt is going to carry forward and you don't have sufficient funds to pay it off, we understand. We are willing to be accommodating and find a payment option and rate that suits your needs.
There is no point of opting for a trade in if you are unable to get a good value out of the deal. Insta Auto Loan ensures you get that good value!
Monday 22 September 2014 at 10:24AM
Latest Version
When you are buying a new car, your old one has two options. You can either sell it off or trade it in. The question is what happens to the car loan if you have not paid it off. You may want a new car because you're tired of your old one, you have new transportation needs or you want to give your freshly graduated child a new car. No matter the reason, you still have to deal with the debt.
Trading-in Your Car
Trading-in your car is a good idea simply because you are building a relationship with your dealership. It is a fantastic way to get the best price for your new car. You will be granted concessions on the car and any accessories you buy. Your relationship with the car dealership grows as the number of financial transactions increases.
The Vehicle Debt
The main concern for a dealership when trading in a used car is the debt amount it is under. He will ask you what the pay off value is. If you have no idea, get in touch with your lender agency and find out. Depending on the pay off and the trade in value, the dealership will make a decision.
If your pay off is lower than the trade-in value of your vehicle, it is a fairly simple decision. You have money to pay off the remaining debt. You will be able to clear off your debt and still have some money for your new car. However, what if the debt pay-off remaining is higher than the trade-in value of the car?
Trading in While Upside Down
If the auto loan debt is more that the trade-in value of the car, it is known as an upside down on your car loan. This can have negative effects on your decision to trade in your car and get a new vehicle. In such a situation, you have two options:
1. Pay the Remaining Debt
You can pay the balanced debt after trading in your car. If you do not have the sufficient funds, you can consider borrowing money and paying for it. This move will completely rid the old auto loan debt off your hands.
2. Carry it Forward
The other option is to carry forward the balanced debt onto your next car loan. However, this should not be done lightly, especially, if you don't have good credit. Your lender will subject you to a high interest rate.
What Insta Auto Loan Thinks
The primary aim of trading in your old car for a new one is to get a good value, good price and save some money. If it looks like the debt is going to carry forward and you don't have sufficient funds to pay it off, we understand. We are willing to be accommodating and find a payment option and rate that suits your needs.
There is no point of opting for a trade in if you are unable to get a good value out of the deal. Insta Auto Loan ensures you get that good value!
Do you repair your car or get a new one?
Thursday 30 October 2014 at 10:30AM
Latest Version
As your car ages, you will spend more and more money to repair and maintain it. The general arrangement is to repair what you can and take care of routine maintenance. Eventually, you reach a point where the car has aged significantly or is severely damaged in an accident and the repairs are quite expensive.
A car gives you memories, it takes you on trips with family and friends and it is like a faithful companion on all those fun adventures. If you get attached to your car, you face a tough decision.
Well, here's some help to figure out the right choice.
Maintenance Bills
Start pulling out all your maintenance bills and take a look at them. How much have you been paying for your car maintenance? Is there a large figure increase? More oil needed for the engine, frequent changes needed for the break oil, more coolant to be poured than normal?
Your maintenance cost will follow an upward trend from the moment you bought the car, so the question is – Can you afford this upward trend or are the maintenance costs too much?
Repair Costs
There are many things to consider when it comes to repairs.
- Will the problem keep occurring?
- Is it a one-time repair?
- How much longer will the car survive after the repair?
- How much is the repair cost compared to the value of the car?
- Can you afford it?
- Is the car repair covered by insurance in a situation where it is involved in an accident?
Do the math and figure out if the financial costs of repairing the car are worth it
Break Down the Figures
Take a look at the repair and maintenance costs together, and look at the big picture. In the long run, how viable is it to spend money on the car? If you have to keep shelling out a substantial figure in the years to come, just to keep the car in a working condition, then you should consider buying a new car.
And, don't just look at it in terms of your financial situation. Buying a new car is a costly affair, but the repairs and maintenance costs of the first decade will be significantly cheaper than what you are paying right now.
Budget
It's all about the money. If you can't afford a new car, you may have not an option but to keep repairing your old one.
NOT!
You can get an auto-loan for a new car. Even if you have a bad credit score, Insta Auto Loan will still give you the loan. Additionally, you have the option of trading in your car which will give you a better deal from the car dealership.
Ultimately, as much as you love your car, a new car will give you a peace of mind. All the parts are new, it won't break down and you'll get great mileage.
Thursday 30 October 2014 at 10:30AM
Latest Version
As your car ages, you will spend more and more money to repair and maintain it. The general arrangement is to repair what you can and take care of routine maintenance. Eventually, you reach a point where the car has aged significantly or is severely damaged in an accident and the repairs are quite expensive.
A car gives you memories, it takes you on trips with family and friends and it is like a faithful companion on all those fun adventures. If you get attached to your car, you face a tough decision.
Well, here's some help to figure out the right choice.
Maintenance Bills
Start pulling out all your maintenance bills and take a look at them. How much have you been paying for your car maintenance? Is there a large figure increase? More oil needed for the engine, frequent changes needed for the break oil, more coolant to be poured than normal?
Your maintenance cost will follow an upward trend from the moment you bought the car, so the question is – Can you afford this upward trend or are the maintenance costs too much?
Repair Costs
There are many things to consider when it comes to repairs.
- Will the problem keep occurring?
- Is it a one-time repair?
- How much longer will the car survive after the repair?
- How much is the repair cost compared to the value of the car?
- Can you afford it?
- Is the car repair covered by insurance in a situation where it is involved in an accident?
Do the math and figure out if the financial costs of repairing the car are worth it
Break Down the Figures
Take a look at the repair and maintenance costs together, and look at the big picture. In the long run, how viable is it to spend money on the car? If you have to keep shelling out a substantial figure in the years to come, just to keep the car in a working condition, then you should consider buying a new car.
And, don't just look at it in terms of your financial situation. Buying a new car is a costly affair, but the repairs and maintenance costs of the first decade will be significantly cheaper than what you are paying right now.
Budget
It's all about the money. If you can't afford a new car, you may have not an option but to keep repairing your old one.
NOT!
You can get an auto-loan for a new car. Even if you have a bad credit score, Insta Auto Loan will still give you the loan. Additionally, you have the option of trading in your car which will give you a better deal from the car dealership.
Ultimately, as much as you love your car, a new car will give you a peace of mind. All the parts are new, it won't break down and you'll get great mileage.
Get car financing even if you're a part time worker
Friday 14 November 2014 at 11:48AM
Latest Version
Your employment situation is key to whether your loan application gets approved or not. It tells the lender if you are earning sufficiently to pay back the loan. Ideally, you should have a stable job when applying for a car loan, but that may not always be so. You have to deal with economic realities of today. A part time job is good if you are in college, have just graduated or are in desperate need of a paying job and a part-time job is better than nothing.
So what do you have to keep in mind when applying for a car loan so that you can improve your chances?
Credit Score
A credit score of over 650 is considered very good.
Credit History Issues
Issues in credit history refer to late payments, pending debts or even that you had filed for bankruptcy. These don't bode well for your car loan application.
Job Consistency
How long have you been with this part time job? What about previous jobs? How long did they last? These are crucial questions a lending agency will ask when considering your car loan application.
Money in the Bank for Down payment
Down payment is basically the cash money which you hand over to the dealership at the time of purchase. Lending agencies expect you to not completely rely on the loan for paying the dealership.
Price of the Car
Which car are you going for? The fact that you are applying for a loan means that you can't afford it. Higher the price of the car, more the loan amount and greater the interest rate. The lending agency will question if you can manage to pay back with your part-time job.
Co-signer's financial situation
One of the best ways to win over a lending agency is to introduce a co-signer with your auto-loan application. However, the lending agency goes over your co-signer's financial situation just like they would do your's. They check the credit report, credit score and employment history.
If your co-signer has a better financial status, it's better for you.
What if it's not working out for you?
There are so many things you must consider when sending in the car loan application. Credit history, credit score, employment history, car price; there is a lot to worry about and a lot that can go wrong. Each of the above points gives the lender agency a reason not to accept the loan application.
Another option instead of getting rejected by a lender agency is to utilise Insta Auto Loan. Whether you have bad credit, are in deep debt or your financial situation is in the red, Insta Auto Loan will grant you credit swiftly.
Friday 14 November 2014 at 11:48AM
Latest Version
Your employment situation is key to whether your loan application gets approved or not. It tells the lender if you are earning sufficiently to pay back the loan. Ideally, you should have a stable job when applying for a car loan, but that may not always be so. You have to deal with economic realities of today. A part time job is good if you are in college, have just graduated or are in desperate need of a paying job and a part-time job is better than nothing.
So what do you have to keep in mind when applying for a car loan so that you can improve your chances?
Credit Score
A credit score of over 650 is considered very good.
Credit History Issues
Issues in credit history refer to late payments, pending debts or even that you had filed for bankruptcy. These don't bode well for your car loan application.
Job Consistency
How long have you been with this part time job? What about previous jobs? How long did they last? These are crucial questions a lending agency will ask when considering your car loan application.
Money in the Bank for Down payment
Down payment is basically the cash money which you hand over to the dealership at the time of purchase. Lending agencies expect you to not completely rely on the loan for paying the dealership.
Price of the Car
Which car are you going for? The fact that you are applying for a loan means that you can't afford it. Higher the price of the car, more the loan amount and greater the interest rate. The lending agency will question if you can manage to pay back with your part-time job.
Co-signer's financial situation
One of the best ways to win over a lending agency is to introduce a co-signer with your auto-loan application. However, the lending agency goes over your co-signer's financial situation just like they would do your's. They check the credit report, credit score and employment history.
If your co-signer has a better financial status, it's better for you.
What if it's not working out for you?
There are so many things you must consider when sending in the car loan application. Credit history, credit score, employment history, car price; there is a lot to worry about and a lot that can go wrong. Each of the above points gives the lender agency a reason not to accept the loan application.
Another option instead of getting rejected by a lender agency is to utilise Insta Auto Loan. Whether you have bad credit, are in deep debt or your financial situation is in the red, Insta Auto Loan will grant you credit swiftly.
Best way to pay off your car loan early
Thursday 18 December 2014 at 10:10AM
Latest Version
When you are close to paying off your car loan, you can push yourself to pay it off early. It's a good feeling when you are able to get one debt off your back. It gives you peace of mind and you can turn your focus to those other debts.
Compared to home loan, a car loan is manageable. The amount is not immense and it is possible to pay it off early. Additionally, it will have a positive effect on your credit score. So how do you get free from the car debt early?
Never Skip a Payment
Every month, you are required to make a payment - never skip it. Before you can even start thinking of paying the debt off early, you have to stay on track. Paying it every month is an easy way to stay on track.
Also, avoid making late payments. Late payments have a negative effect your credit score and that can't be good if you're hoping to rebuild your credit.
Go Bi-weekly
Monthly payments are convenient, but if you want to quickly pay off the debt, switch to bi-weekly payments. You put in money more frequently and rein in the debt. Since you are paying twice a week, you are also paying less interest. Bi-weekly is a really good idea if you are prone to making late payments.
Use your Bonus
Every year make one extra payment for your auto debt. Rather than blowing away your bonus, you can utilize it for your car loan. Under the usual circumstances, you may not be able to gather excess money to make that extra payment. However, when you get a bonus, be it in the form of a salary bonus or a tax refund, you can utilize this extra cash for the debt.
Pay more than the Minimum Payment
You do not have to stick to the minimum payment. It is just a figure that you have to keep to if you hope to finish paying off your debt within the time period. If you are finding it tough to gather the money to even pay more than the minimum payment, aim to at least round off the minimum payment. For example, if the minimum payment is $385, you can pay $400. In the bigger scheme of things, this small increase in payment will help you pay it off early.
Start a Budget
The ability to never miss a payment, keep paying it bi-weekly and paying more than the minimum payment is a challenge. You need to start budgeting. This is the best way to manage your limited income and make an efficient use of it.
You control your spending, save more and contribute additional income into your debt payments. Furthermore, budgeting allows you to allocate a certain amount of your income to you debt payment. This way, even at the end of month, you have money to pay for it.
True, it can be difficult to pay off your car loan early. But, the advantages are that you are charged less interest rate, your credit score improves and you can focus on other debts.
Thursday 18 December 2014 at 10:10AM
Latest Version
When you are close to paying off your car loan, you can push yourself to pay it off early. It's a good feeling when you are able to get one debt off your back. It gives you peace of mind and you can turn your focus to those other debts.
Compared to home loan, a car loan is manageable. The amount is not immense and it is possible to pay it off early. Additionally, it will have a positive effect on your credit score. So how do you get free from the car debt early?
Never Skip a Payment
Every month, you are required to make a payment - never skip it. Before you can even start thinking of paying the debt off early, you have to stay on track. Paying it every month is an easy way to stay on track.
Also, avoid making late payments. Late payments have a negative effect your credit score and that can't be good if you're hoping to rebuild your credit.
Go Bi-weekly
Monthly payments are convenient, but if you want to quickly pay off the debt, switch to bi-weekly payments. You put in money more frequently and rein in the debt. Since you are paying twice a week, you are also paying less interest. Bi-weekly is a really good idea if you are prone to making late payments.
Use your Bonus
Every year make one extra payment for your auto debt. Rather than blowing away your bonus, you can utilize it for your car loan. Under the usual circumstances, you may not be able to gather excess money to make that extra payment. However, when you get a bonus, be it in the form of a salary bonus or a tax refund, you can utilize this extra cash for the debt.
Pay more than the Minimum Payment
You do not have to stick to the minimum payment. It is just a figure that you have to keep to if you hope to finish paying off your debt within the time period. If you are finding it tough to gather the money to even pay more than the minimum payment, aim to at least round off the minimum payment. For example, if the minimum payment is $385, you can pay $400. In the bigger scheme of things, this small increase in payment will help you pay it off early.
Start a Budget
The ability to never miss a payment, keep paying it bi-weekly and paying more than the minimum payment is a challenge. You need to start budgeting. This is the best way to manage your limited income and make an efficient use of it.
You control your spending, save more and contribute additional income into your debt payments. Furthermore, budgeting allows you to allocate a certain amount of your income to you debt payment. This way, even at the end of month, you have money to pay for it.
True, it can be difficult to pay off your car loan early. But, the advantages are that you are charged less interest rate, your credit score improves and you can focus on other debts.
Getting a car even with bad credit
Wednesday 14 January 2015 at 10:26AM
Latest Version
Anyone in the financial world will tell you that getting a loan, even a car loan, can be difficult if you suffer from bad credit issues. Financial institutes love people with a pristine credit history and a high credit score. It tells them that the person is financially responsible and will pay back the loan in time. If you are a victim of bad credit, you will inevitably face the rejection stamp on your loan application.
So what are your options? How can you get a loan with a bad financial situation and poor credit score?
Look at your Credit History
Don't let others tell you that your credit history is bad and hence, you can't get the loan. You can easily request your credit report form Equifax or TransUnion Canada. Find the points that are causing the negativity in your credit history.
The amount of debt piled up.
How regular are your debt payments?
The various interest rates you are dealing with.
Watch out for any discrepancies in your credit history. A credit card payment you didn't make or a loan payment that has not been recorded. These wrong recordings will have a negative effect on your credit score and you need to get in touch with the credit bureau and fix them.
Keep Your Options Open
When it comes to lending agencies or car dealerships, keep your options open.
Every lending agency has different procedures and criteria when accepting a car loan application. Some have very high standards where you are required to have a minimum credit score, while others are quite lax.
Car dealerships often have their own offers in place when it comes to car loans. Ensure you explore many car dealerships and know all the loans they have on offer. Discuss your credit situation with them and check if they can accommodate you.
Get a Co-Signer
A co-signer is a good option when you have a bad credit. A co-signer basically says that she will be responsible for you financially. Ideally, you should have a co-signer who has a good credit score. Even though your credit situation is not good, your chances improve with a co-signer. However, there could be instances when a co-signer won't be enough to convince a lending agency.
Insta Auto Loans
You are here, reading our blog, Insta Auto Loans is here to help you get a car loan instantly with no hassle. Too many lender agencies and financial institutes make the whole process of lending too difficult. They are searching for the perfect financially responsible person.
Bad credit score, a terrible financial situation, Insta Auto Loans is willing to overlook that and grant a loan. Not only is the whole process easy, but we also give you the loan swiftly. No more waiting for your loan application to get approved. With us, you can go out and buy that car immediately!
Wednesday 14 January 2015 at 10:26AM
Latest Version
Anyone in the financial world will tell you that getting a loan, even a car loan, can be difficult if you suffer from bad credit issues. Financial institutes love people with a pristine credit history and a high credit score. It tells them that the person is financially responsible and will pay back the loan in time. If you are a victim of bad credit, you will inevitably face the rejection stamp on your loan application.
So what are your options? How can you get a loan with a bad financial situation and poor credit score?
Look at your Credit History
Don't let others tell you that your credit history is bad and hence, you can't get the loan. You can easily request your credit report form Equifax or TransUnion Canada. Find the points that are causing the negativity in your credit history.
The amount of debt piled up.
How regular are your debt payments?
The various interest rates you are dealing with.
Watch out for any discrepancies in your credit history. A credit card payment you didn't make or a loan payment that has not been recorded. These wrong recordings will have a negative effect on your credit score and you need to get in touch with the credit bureau and fix them.
Keep Your Options Open
When it comes to lending agencies or car dealerships, keep your options open.
Every lending agency has different procedures and criteria when accepting a car loan application. Some have very high standards where you are required to have a minimum credit score, while others are quite lax.
Car dealerships often have their own offers in place when it comes to car loans. Ensure you explore many car dealerships and know all the loans they have on offer. Discuss your credit situation with them and check if they can accommodate you.
Get a Co-Signer
A co-signer is a good option when you have a bad credit. A co-signer basically says that she will be responsible for you financially. Ideally, you should have a co-signer who has a good credit score. Even though your credit situation is not good, your chances improve with a co-signer. However, there could be instances when a co-signer won't be enough to convince a lending agency.
Insta Auto Loans
You are here, reading our blog, Insta Auto Loans is here to help you get a car loan instantly with no hassle. Too many lender agencies and financial institutes make the whole process of lending too difficult. They are searching for the perfect financially responsible person.
Bad credit score, a terrible financial situation, Insta Auto Loans is willing to overlook that and grant a loan. Not only is the whole process easy, but we also give you the loan swiftly. No more waiting for your loan application to get approved. With us, you can go out and buy that car immediately!
Auto Loan First, Dealership Second
Friday 13 Feburary 2015 at 10:38AM
Latest Version
Getting a new car can be very exciting, especially if it's your first one. You walk into various dealerships, have the salesperson do their best to find a car that you like and then, once you narrow down on a choice, you make a purchase. If you don't have cash on-hand or in your bank account, your best financial option will be a loan.
Here's where the whole buying process will lose steam. You'll have to sit with the salesperson to try and figure out the best financial option. On top of that, the dealership's financial department will take some days to assess your financial situation before giving the loan. They will want to check your credit score and confirm if you are able to pay back the loan. If your credit score is low, you may not get the loan.
Now, you will have to go to another dealership, go through the whole process and hope your loan application is not refused.
Why Credit Score Matters?
Your credit score tells a dealership if you are financially responsible. A low credit score will tell the dealership that there are chances of you not paying back the loan. This kind of assessment completely discounts for any emotional or financial trouble you may be going through. Unfortunately, that's how the system is.
And, if you don't get the loan, you won't be able to buy the car.
Get the Car Loan First
What you can do to avoid this unfortunate situation is get a car loan first before you walk into a dealership store. When you walk into a dealership with your payment option secure, you don't have to worry about getting rejected.
There is no prerequisite that you have to take a car loan from the dealership. Most dealerships don't really offer car loans, what they do is tie up with credit agencies who offer loans. So, if you get a car loan from outside, it's okay.
Get your Car Loan from Insta Auto Loan
Insta Auto Loan offers a simple, quick and safe way to get a car loan. The whole process is online and there are various security layers to protect your data. Once you submit your loan application, Insta Auto Loan will confirm the loan the very next day.
Insta Auto Loan accepts applicants who have a low credit score, are first time borrowers or even bankrupt.
So, when you're planning on buying a car, get your car loan first. This just makes the whole process of buying a new car much easier.
Friday 13 Feburary 2015 at 10:38AM
Latest Version
Getting a new car can be very exciting, especially if it's your first one. You walk into various dealerships, have the salesperson do their best to find a car that you like and then, once you narrow down on a choice, you make a purchase. If you don't have cash on-hand or in your bank account, your best financial option will be a loan.
Here's where the whole buying process will lose steam. You'll have to sit with the salesperson to try and figure out the best financial option. On top of that, the dealership's financial department will take some days to assess your financial situation before giving the loan. They will want to check your credit score and confirm if you are able to pay back the loan. If your credit score is low, you may not get the loan.
Now, you will have to go to another dealership, go through the whole process and hope your loan application is not refused.
Why Credit Score Matters?
Your credit score tells a dealership if you are financially responsible. A low credit score will tell the dealership that there are chances of you not paying back the loan. This kind of assessment completely discounts for any emotional or financial trouble you may be going through. Unfortunately, that's how the system is.
And, if you don't get the loan, you won't be able to buy the car.
Get the Car Loan First
What you can do to avoid this unfortunate situation is get a car loan first before you walk into a dealership store. When you walk into a dealership with your payment option secure, you don't have to worry about getting rejected.
There is no prerequisite that you have to take a car loan from the dealership. Most dealerships don't really offer car loans, what they do is tie up with credit agencies who offer loans. So, if you get a car loan from outside, it's okay.
Get your Car Loan from Insta Auto Loan
Insta Auto Loan offers a simple, quick and safe way to get a car loan. The whole process is online and there are various security layers to protect your data. Once you submit your loan application, Insta Auto Loan will confirm the loan the very next day.
Insta Auto Loan accepts applicants who have a low credit score, are first time borrowers or even bankrupt.
So, when you're planning on buying a car, get your car loan first. This just makes the whole process of buying a new car much easier.
How Can a Car Loan Help Out When You're Bankrupt?
Friday 13 March 2015 at 11:29AM
Latest Version
Being bankrupt is not fun. Your property will be confiscated and sold off to repay the pending debt. And, you'll get a black mark on your Credit Report that makes you ineligible for future loans. However, it is hardly the end of the world for you. Right now, a car loan can be very helpful to get you through and out of this difficult phase.
Here's how.
You Deserve a Car
If your car has been confiscated and sold off as part of paying the debt, you are without some wheels. A car is essential to maintaining a good family, social and professional life. You can get to meetings and interviews on time, go out with friends and drop the children at the school. A vehicle is an essential part of living in Canada and you shouldn't miss out on it just because you are bankrupt.
Improve your Debt Situation
At this time, everyone may recommend that you don't take a car loan because you're bankrupt. However, once you are done with the bankruptcy process, you will owe a minimum amount of debt. Add to that, a car loan is manageable debt as opposed to a home or education loan. You can pay it off with 5 to 10 years, so it's hardly a bad idea.
Improve your Credit Report
Your credit score is the greatest factor that's affected when you file for bankruptcy. You need to rebuild your credit from scratch, and a car loan will do just that. The problem with a low credit score is that you are considered financially irresponsible and a lot of financial opportunities will be closed to you because you don't have the required credit score.
By taking a car loan, you get an opportunity to make the monthly payments. Ensure you never miss a single loan payment and this will improve your credit history which in turn improves your credit score.
Get a Car Loan
However, since you got the tag of bankruptcy, financial institutions will refuse to give a car loan. This is where Insta Auto Loan comes in. Getting a car loan from Insta Auto Loan is quite easy. The whole process is online and safe. Once you enter your details and submit the application, you'll get a reply the very next day. There is no hassle of convincing the financial institute that you can handle the loan.
In the end... it's only money. Take your car out for a long drive and enjoy life, you deserve it.
Friday 13 March 2015 at 11:29AM
Latest Version
Being bankrupt is not fun. Your property will be confiscated and sold off to repay the pending debt. And, you'll get a black mark on your Credit Report that makes you ineligible for future loans. However, it is hardly the end of the world for you. Right now, a car loan can be very helpful to get you through and out of this difficult phase.
Here's how.
You Deserve a Car
If your car has been confiscated and sold off as part of paying the debt, you are without some wheels. A car is essential to maintaining a good family, social and professional life. You can get to meetings and interviews on time, go out with friends and drop the children at the school. A vehicle is an essential part of living in Canada and you shouldn't miss out on it just because you are bankrupt.
Improve your Debt Situation
At this time, everyone may recommend that you don't take a car loan because you're bankrupt. However, once you are done with the bankruptcy process, you will owe a minimum amount of debt. Add to that, a car loan is manageable debt as opposed to a home or education loan. You can pay it off with 5 to 10 years, so it's hardly a bad idea.
Improve your Credit Report
Your credit score is the greatest factor that's affected when you file for bankruptcy. You need to rebuild your credit from scratch, and a car loan will do just that. The problem with a low credit score is that you are considered financially irresponsible and a lot of financial opportunities will be closed to you because you don't have the required credit score.
By taking a car loan, you get an opportunity to make the monthly payments. Ensure you never miss a single loan payment and this will improve your credit history which in turn improves your credit score.
Get a Car Loan
However, since you got the tag of bankruptcy, financial institutions will refuse to give a car loan. This is where Insta Auto Loan comes in. Getting a car loan from Insta Auto Loan is quite easy. The whole process is online and safe. Once you enter your details and submit the application, you'll get a reply the very next day. There is no hassle of convincing the financial institute that you can handle the loan.
In the end... it's only money. Take your car out for a long drive and enjoy life, you deserve it.
What Should You Do if You Fall Behind On a Car Loan Payment?
Friday 17 April 2015 at 02:28PM
Latest Version
Falling behind on a car loan payment can happen to anyone. The question is, once that happens, what do you do now? The obvious answer is – you catch up. But, how do you catch up?
It's easy to take a car loan, but it's harder to keep track of those payments. However, if you want to improve your credit score, you need to maintain a regular payment of the loan. An extremely busy month, strained finances or excessive expenditure can all lead to you missing your car loan payment. Well, here's what you can do if you miss your car loan payment.
Get your Finance in Order and Budget
If lack of money forced you to defer payment, then your limited income needs to be better managed. This can be done through budgeting. The first step of budgeting is to account for all your income from your salary to any investments. Second step – account for all your expenses. Identify expenses that are luxuries and cut down on them. This way you save more and have more money to pay your debt with.
A good budget is one where you allot strict expenditure and never exceed those allotments. This way, you always have money to pay your monthly car loan payment without fail.
Throw in your Bonus
Since you missed out on your loan payment, catching up can be difficult. What you can do is wait to get a bonus. Rather than blow away the bonus on an expensive outing, use it to pay your debt. This is a good and easy way to catch up without straining your financial situation greatly.
Deferral
You can talk to the lender agency and ask them to defer the loan payment. The more times you skip a loan payment, the more times you'll find yourself paying an increasing interest rate. This means that you are paying more for the car than you should. By deferring the payment, you are better able to deal with missing the loan payment. It could also help prevent you from defaulting on the loan.
Plan the Payment
If you missed the payment just because you had a busy week, you need to improve your planning skills. For the next 12 months, set reminders when you have to pay the monthly payment on your calendar.
Missing a car loan payment is not the end of the world. You can catch up and come closer to paying your debt. There is no reason to give up or sell your car just because you missed your monthly payment. At Insta Auto Loan, we understand that our customer is often facing tough financial situations. For this, we give them leeway in terms of time so that they can make the auto loan payment.
Friday 17 April 2015 at 02:28PM
Latest Version
Falling behind on a car loan payment can happen to anyone. The question is, once that happens, what do you do now? The obvious answer is – you catch up. But, how do you catch up?
It's easy to take a car loan, but it's harder to keep track of those payments. However, if you want to improve your credit score, you need to maintain a regular payment of the loan. An extremely busy month, strained finances or excessive expenditure can all lead to you missing your car loan payment. Well, here's what you can do if you miss your car loan payment.
Get your Finance in Order and Budget
If lack of money forced you to defer payment, then your limited income needs to be better managed. This can be done through budgeting. The first step of budgeting is to account for all your income from your salary to any investments. Second step – account for all your expenses. Identify expenses that are luxuries and cut down on them. This way you save more and have more money to pay your debt with.
A good budget is one where you allot strict expenditure and never exceed those allotments. This way, you always have money to pay your monthly car loan payment without fail.
Throw in your Bonus
Since you missed out on your loan payment, catching up can be difficult. What you can do is wait to get a bonus. Rather than blow away the bonus on an expensive outing, use it to pay your debt. This is a good and easy way to catch up without straining your financial situation greatly.
Deferral
You can talk to the lender agency and ask them to defer the loan payment. The more times you skip a loan payment, the more times you'll find yourself paying an increasing interest rate. This means that you are paying more for the car than you should. By deferring the payment, you are better able to deal with missing the loan payment. It could also help prevent you from defaulting on the loan.
Plan the Payment
If you missed the payment just because you had a busy week, you need to improve your planning skills. For the next 12 months, set reminders when you have to pay the monthly payment on your calendar.
Missing a car loan payment is not the end of the world. You can catch up and come closer to paying your debt. There is no reason to give up or sell your car just because you missed your monthly payment. At Insta Auto Loan, we understand that our customer is often facing tough financial situations. For this, we give them leeway in terms of time so that they can make the auto loan payment.
Don't Get Hustled When Buying a Car
Thursday 21 May 2015 at 11:40AM
Latest Version
Buying a car from an uncertified dealer opens you to all kinds of risks. These are the shady dealers who claim to offer more affordable cars. However, the fact is that if you're opting for an uncertified car dealer, you're subjecting yourself to quite a bit of risk. You risk being cheated, you risk being hustled.
Uncertified car dealers may seem like a good idea if you are purchasing a used car. But, even so, it's not.
Here's what you should watch out for if you are dealing with an uncertified dealer.
The Unexpected Fees
For uncertified dealers, the 'unexpected fees' is like a magic trick. They will tell you one price when you first see the car, and they'll give you another when you decide that you want the car. If you ask why the price changed, they'll claim the new price includes fees like negotiating fees, paper processing fees and such.
You shouldn't be paying for these fees at all, so don't!
Sudden Add-ons
Any kind of add-ons are good for the car. A better music system, an alarm system, paint protection coating, etc. – are all good. However, what is not good is if the dealer has increased the original price of the car because of the add-ons.
The dealer is just trying to get you to pay more for the car to justify the cost increase.
Change in the Odometer
When you meet the dealer to finally purchase the car, check the odometer. There is always a chance that the dealer would have taken the car for a drive around. A change in the odometer means that you can negotiate a better price for the car.
The best thing you can do is note down the distance on the odometer when you first see the car and check it again when you finally buy it.
Sticker Prices
A sticker price on a car's windshield is supposed to be the Manufacturer's Suggested Retail Price. However, uncertified dealers may not be so law-abiding. They could stick a fake price and demand that from you.
Be aware of the price of a car when you go to purchase it. With the help of a smartphone, you just have to do a quick Google search and you'll get that information.
Go to a Certified Dealer
Save yourself some time and paranoia and just buy a car from a certified dealer. There are tons of certified dealers in Alberta who sell new and used cars.
If you find yourself short of money when buying a car, you can get a loan from Insta Auto Loan. We offers loan to you even if you have a bad credit.
Thursday 21 May 2015 at 11:40AM
Latest Version
Buying a car from an uncertified dealer opens you to all kinds of risks. These are the shady dealers who claim to offer more affordable cars. However, the fact is that if you're opting for an uncertified car dealer, you're subjecting yourself to quite a bit of risk. You risk being cheated, you risk being hustled.
Uncertified car dealers may seem like a good idea if you are purchasing a used car. But, even so, it's not.
Here's what you should watch out for if you are dealing with an uncertified dealer.
The Unexpected Fees
For uncertified dealers, the 'unexpected fees' is like a magic trick. They will tell you one price when you first see the car, and they'll give you another when you decide that you want the car. If you ask why the price changed, they'll claim the new price includes fees like negotiating fees, paper processing fees and such.
You shouldn't be paying for these fees at all, so don't!
Sudden Add-ons
Any kind of add-ons are good for the car. A better music system, an alarm system, paint protection coating, etc. – are all good. However, what is not good is if the dealer has increased the original price of the car because of the add-ons.
The dealer is just trying to get you to pay more for the car to justify the cost increase.
Change in the Odometer
When you meet the dealer to finally purchase the car, check the odometer. There is always a chance that the dealer would have taken the car for a drive around. A change in the odometer means that you can negotiate a better price for the car.
The best thing you can do is note down the distance on the odometer when you first see the car and check it again when you finally buy it.
Sticker Prices
A sticker price on a car's windshield is supposed to be the Manufacturer's Suggested Retail Price. However, uncertified dealers may not be so law-abiding. They could stick a fake price and demand that from you.
Be aware of the price of a car when you go to purchase it. With the help of a smartphone, you just have to do a quick Google search and you'll get that information.
Go to a Certified Dealer
Save yourself some time and paranoia and just buy a car from a certified dealer. There are tons of certified dealers in Alberta who sell new and used cars.
If you find yourself short of money when buying a car, you can get a loan from Insta Auto Loan. We offers loan to you even if you have a bad credit.
Best Ways to Pay Off Car Loans Quicker
Thursday 25 June 2015 at 10:26AM
Latest Version
When you owe money to someone, it's natural to ask yourself –How can I pay it back faster?
Well, if you are in car loan debt, you'll want to pay it back as fast as possible. The quicker you pay back the loan, the lesser interest rate you're charged. More importantly, you get a huge burden off your head and free up for your finance to spend in the future. And, if you have a bad credit, paying it off quicker will improve your credit history and your credit score.
So, how do you pay back your car loan quickly?
Regular Payment
The biggest priority other than paying your car loan quickly is to pay it regularly. So many debtors imagine paying off their car loan quickly, but they can't even pay the loan regularly. Create a budget and allot your income to your various needs like groceries, cost of living, and debt payment. This way, you always have money to make the car loan payment at the end of the month. Also, ensure you have a tight schedule so you don't land up making a late payment.
Make it a Bi-Weekly Payment
If you can manage monthly payments, increase the pressure and make it bi-weekly payments. Since, you're paying twice a month instead of once a month, you'll be paying the loan much quicker. However, during that time, the financial strain will be much greater than before.
However, it's better to stick to monthly payments and avoid late payments, than go for bi-weekly payments if you can't manage it.
Throw in Your Bonus
Got a bonus from your employer? Don't blow it away. Use it to make a lump sum payment for your loan. An extra payment every year can quicken the repayment pace.
Earn a Little More Cash
Try to earn a little bit more. You can try to get a salary raise at work or switch your job to one with a better pay. Another option is to earn some cash on the side. You can freelance your expertise and earn a little extra cash. Use this to improve the amount you pay back.
Paying off your car loan quickly is a challenge. But it can be done with discipline and perseverance.
Thursday 25 June 2015 at 10:26AM
Latest Version
When you owe money to someone, it's natural to ask yourself –How can I pay it back faster?
Well, if you are in car loan debt, you'll want to pay it back as fast as possible. The quicker you pay back the loan, the lesser interest rate you're charged. More importantly, you get a huge burden off your head and free up for your finance to spend in the future. And, if you have a bad credit, paying it off quicker will improve your credit history and your credit score.
So, how do you pay back your car loan quickly?
Regular Payment
The biggest priority other than paying your car loan quickly is to pay it regularly. So many debtors imagine paying off their car loan quickly, but they can't even pay the loan regularly. Create a budget and allot your income to your various needs like groceries, cost of living, and debt payment. This way, you always have money to make the car loan payment at the end of the month. Also, ensure you have a tight schedule so you don't land up making a late payment.
Make it a Bi-Weekly Payment
If you can manage monthly payments, increase the pressure and make it bi-weekly payments. Since, you're paying twice a month instead of once a month, you'll be paying the loan much quicker. However, during that time, the financial strain will be much greater than before.
However, it's better to stick to monthly payments and avoid late payments, than go for bi-weekly payments if you can't manage it.
Throw in Your Bonus
Got a bonus from your employer? Don't blow it away. Use it to make a lump sum payment for your loan. An extra payment every year can quicken the repayment pace.
Earn a Little More Cash
Try to earn a little bit more. You can try to get a salary raise at work or switch your job to one with a better pay. Another option is to earn some cash on the side. You can freelance your expertise and earn a little extra cash. Use this to improve the amount you pay back.
Paying off your car loan quickly is a challenge. But it can be done with discipline and perseverance.
Should you buy a certified pre-owned vehicle?
Tuesday 07 July 2015 at 11:21AM
Latest Version
Buying a used car is a good option when you are strapped for cash. The price of a used car is significantly lower than the market price of a new one. And, instead of going for the cheapest car, you have the option to buy a car in an upper price range.
The only major issue that you face with buying a used car is that it could break down in the near future. A used car may have gone through significant wear and tear. However, a certified pre-owned car offers you another option when it comes to purchasing a used car.
Here are points to consider when deciding if you want a pre-owned vehicle.
Prepped and Repaired
A certified used car is taken in and repaired. Parts that require replacement are replaced. And, overall, the car gets repaired in all areas from the paint work to electronics to the engine.
Both a car dealership and a car manufacturer sell certified pre-owned vehicles. This gives you two options if you decide to buy a certified pre-owned car.
Certified pre-owned car Inspections
These are inspections that ensure that the car is up to the manufacturer's standard. There are many dealerships that claim to sell certified pre-owned cars. To ensure these dealers have repaired the car in the best possible manner, they have to pass through the inspection by the manufacturer.
This means a certified used car that has passed inspection is in the best possible condition.
5 Year Limit
The older a car is, the more wear and tear it has experienced, the more fuel it will consume, and the quicker you will face problems with it. A certified pre-owned car is never older than 5 years. Comparatively, you will find used cars in the market that are as much as 10 years old.
Warranty
If you're lucky, the pre-owned car may still be under warranty from the previous ownership. If not, you will be given a warranty from the manufacturer. The warranty will largely give you a year to two years of coverage and be limited to 2000 to 4000 km of mileage.
Warranties largely depend on the manufacturer.
Extra Costs
Compared with a used car of the same model, you will find a pre-owned car charges an increased price of about 7-8%. However, this increased cost is present due to the repairs and inspections. It is worth paying for the extra costs of a certified pre-owned vehicle because the car will last longer.
There will be Problems
A certified used car does not mean it is devoid of any problems. In fact, no manufacturer can guarantee that there will be any problems. However, because the car has a warranty, you can get any problem that you come across fixed.
If you want to buy a used car because of the cost benefit, but yet want to save by buying a car that won't break down – a certified pre-owned vehicle is your best bet.
In case, you're short on cash for a certified pre-owned vehicle, you can simply get a car loan from Insta Auto Loan. The process is simple, easy and quick.
Tuesday 07 July 2015 at 11:21AM
Latest Version
Buying a used car is a good option when you are strapped for cash. The price of a used car is significantly lower than the market price of a new one. And, instead of going for the cheapest car, you have the option to buy a car in an upper price range.
The only major issue that you face with buying a used car is that it could break down in the near future. A used car may have gone through significant wear and tear. However, a certified pre-owned car offers you another option when it comes to purchasing a used car.
Here are points to consider when deciding if you want a pre-owned vehicle.
Prepped and Repaired
A certified used car is taken in and repaired. Parts that require replacement are replaced. And, overall, the car gets repaired in all areas from the paint work to electronics to the engine.
Both a car dealership and a car manufacturer sell certified pre-owned vehicles. This gives you two options if you decide to buy a certified pre-owned car.
Certified pre-owned car Inspections
These are inspections that ensure that the car is up to the manufacturer's standard. There are many dealerships that claim to sell certified pre-owned cars. To ensure these dealers have repaired the car in the best possible manner, they have to pass through the inspection by the manufacturer.
This means a certified used car that has passed inspection is in the best possible condition.
5 Year Limit
The older a car is, the more wear and tear it has experienced, the more fuel it will consume, and the quicker you will face problems with it. A certified pre-owned car is never older than 5 years. Comparatively, you will find used cars in the market that are as much as 10 years old.
Warranty
If you're lucky, the pre-owned car may still be under warranty from the previous ownership. If not, you will be given a warranty from the manufacturer. The warranty will largely give you a year to two years of coverage and be limited to 2000 to 4000 km of mileage.
Warranties largely depend on the manufacturer.
Extra Costs
Compared with a used car of the same model, you will find a pre-owned car charges an increased price of about 7-8%. However, this increased cost is present due to the repairs and inspections. It is worth paying for the extra costs of a certified pre-owned vehicle because the car will last longer.
There will be Problems
A certified used car does not mean it is devoid of any problems. In fact, no manufacturer can guarantee that there will be any problems. However, because the car has a warranty, you can get any problem that you come across fixed.
If you want to buy a used car because of the cost benefit, but yet want to save by buying a car that won't break down – a certified pre-owned vehicle is your best bet.
In case, you're short on cash for a certified pre-owned vehicle, you can simply get a car loan from Insta Auto Loan. The process is simple, easy and quick.
What you need to know before selling your car
Monday 24 August 2015 at 11:09AM
Latest Version
If you're planning to buy a new car, then you don't need your old one. The best thing to do with it is to sell it off and get some cash in return. Even though you car is used and old, you need to get the best value out of it.
Here are vital things to think about before selling your car.
Why are you selling your car?
Just don't wake up one day and decide that you are going to sell your car and buy another. It could seriously hurt you financially. Know why you are selling your car.
- Your car has grown too old and is not worth the maintenance costs.
- The car is unable to fulfill your needs like comfort, seating capacity or speed.
Know the Market
From the moment you decide to sell your car and buy another one, start researching. Research will play a big part in the process of selling the car and it is vital to getting the best price for your car. Find out how much your model is being sold for as a second and first hand car. Don't just rely on the internet for this information. Go out there and talk to dealerships, and find out the prices and factors that have determined those prices.
Take the Car to the Garage
Before you actually take the car to a dealership, take it to the garage. Try and fix up as many issues as possible without running into serious expenses. Motor oil, brake oil, coolant and working lights are some of the things to check up on. The better condition your car is in, the better price you will be able to fetch for it.
Clean the Car
To get your car looking in its best shape, take it to professionals who know how to clean cars. This is not only about removing litter inside the car. Professionals get your cabin fabric to look its best and add a fresh smell inside. On the exterior, they patch up your car's paint work as best as possible and give it a good shine.
Get your Vehicle History Ready
Don't go to a car showroom without your vehicle history. All car dealership will ask for your vehicle history. It is a detailed report on the purchase and life your vehicle. Apart from containing official data on your car model, it also includes any accidents or legal trouble that your car may have had.
Be Ready to Negotiate
You will have to visit several dealerships before you finally settle on a selling price that you like. However, be ready to negotiate. Factors like car model, damaged parts, looks, engine condition, etc all play a role in determining the final selling price.
Even after you sell your car, you wouldn't have collected enough money to buy another car. Insta Auto Loans offers a car loan to any person whether you have bad credit or are bankrupt. Get in touch with us and we'll set you up.
Monday 24 August 2015 at 11:09AM
Latest Version
If you're planning to buy a new car, then you don't need your old one. The best thing to do with it is to sell it off and get some cash in return. Even though you car is used and old, you need to get the best value out of it.
Here are vital things to think about before selling your car.
Why are you selling your car?
Just don't wake up one day and decide that you are going to sell your car and buy another. It could seriously hurt you financially. Know why you are selling your car.
- Your car has grown too old and is not worth the maintenance costs.
- The car is unable to fulfill your needs like comfort, seating capacity or speed.
Know the Market
From the moment you decide to sell your car and buy another one, start researching. Research will play a big part in the process of selling the car and it is vital to getting the best price for your car. Find out how much your model is being sold for as a second and first hand car. Don't just rely on the internet for this information. Go out there and talk to dealerships, and find out the prices and factors that have determined those prices.
Take the Car to the Garage
Before you actually take the car to a dealership, take it to the garage. Try and fix up as many issues as possible without running into serious expenses. Motor oil, brake oil, coolant and working lights are some of the things to check up on. The better condition your car is in, the better price you will be able to fetch for it.
Clean the Car
To get your car looking in its best shape, take it to professionals who know how to clean cars. This is not only about removing litter inside the car. Professionals get your cabin fabric to look its best and add a fresh smell inside. On the exterior, they patch up your car's paint work as best as possible and give it a good shine.
Get your Vehicle History Ready
Don't go to a car showroom without your vehicle history. All car dealership will ask for your vehicle history. It is a detailed report on the purchase and life your vehicle. Apart from containing official data on your car model, it also includes any accidents or legal trouble that your car may have had.
Be Ready to Negotiate
You will have to visit several dealerships before you finally settle on a selling price that you like. However, be ready to negotiate. Factors like car model, damaged parts, looks, engine condition, etc all play a role in determining the final selling price.
Even after you sell your car, you wouldn't have collected enough money to buy another car. Insta Auto Loans offers a car loan to any person whether you have bad credit or are bankrupt. Get in touch with us and we'll set you up.
Other costs when you buy a car
Wednesday 23 September 2015 at 11:59AM
Latest Version
Financially, buying a car is not as simple as it seems. You don't just drop into a dealership, buy a car and walk out. You have to be ready for additional expenses that come from buying the car. The most obvious ones are paying for fuel and maintenance of your car, but there are a few others you are overlooking.
Here's what you need to know about additional costs when you purchase a vehicle.
Insurance
You can't skip out on insurance when buying the car. On the whole, you have three types of insurance that you can purchase that gives you different coverage, and are of varying costs. The most basic one covers the person affected by an accident or damage you have caused, with the essential one covers both you and the victim, and the most advanced insurance can even cover your car in case of natural disasters.
Tax
Be ready to pay tax on the car you buy. This will increase the purchase cost of the car. Tax charged on a vehicle depends on various factors like where it was manufactured. On average, Alberta charges about 5% sales tax.
License & Registration Fee
You have to get the car registered in your name and acquire a plate number for it. For this you will have to get in touch with a licensed Registry Agents who will have it done. If you don't know any Registry Agent, ask your dealership and they will put in touch with one.
Maintenance
If you want to keep your car running for a long period of time, you have to ensure it is regularly maintained. You have to spend on:
- Oil
- Coolant
- Brake Fluid
Additionally, your car will face wear and tear from time to time and need parts to be replaced. With such issues, whether your car is locally produced, or the parts have to be bought from outside the country, matters because of the cost difference and time it will take to fix your car.
Down Payment
Even if you take a car loan, you may still have to give a down payment to the dealership. However, depending on your financial situation and credit score, it can be negotiated.
Parking Costs
Even if you have a parking lot at home, be prepared to pay parking costs. Your car is not going to always be parked at home. When you take it out, you'll have to shell out for the Parking Meter. If you don't have parking space at home, you'll have a high parking bill that will eat into your income.
Taking a loan from Insta Auto Loan will be able ease your financial burden, but not all of it. Be ready for additional expenses when you purchase your car.
Wednesday 23 September 2015 at 11:59AM
Latest Version
Financially, buying a car is not as simple as it seems. You don't just drop into a dealership, buy a car and walk out. You have to be ready for additional expenses that come from buying the car. The most obvious ones are paying for fuel and maintenance of your car, but there are a few others you are overlooking.
Here's what you need to know about additional costs when you purchase a vehicle.
Insurance
You can't skip out on insurance when buying the car. On the whole, you have three types of insurance that you can purchase that gives you different coverage, and are of varying costs. The most basic one covers the person affected by an accident or damage you have caused, with the essential one covers both you and the victim, and the most advanced insurance can even cover your car in case of natural disasters.
Tax
Be ready to pay tax on the car you buy. This will increase the purchase cost of the car. Tax charged on a vehicle depends on various factors like where it was manufactured. On average, Alberta charges about 5% sales tax.
License & Registration Fee
You have to get the car registered in your name and acquire a plate number for it. For this you will have to get in touch with a licensed Registry Agents who will have it done. If you don't know any Registry Agent, ask your dealership and they will put in touch with one.
Maintenance
If you want to keep your car running for a long period of time, you have to ensure it is regularly maintained. You have to spend on:
- Oil
- Coolant
- Brake Fluid
Additionally, your car will face wear and tear from time to time and need parts to be replaced. With such issues, whether your car is locally produced, or the parts have to be bought from outside the country, matters because of the cost difference and time it will take to fix your car.
Down Payment
Even if you take a car loan, you may still have to give a down payment to the dealership. However, depending on your financial situation and credit score, it can be negotiated.
Parking Costs
Even if you have a parking lot at home, be prepared to pay parking costs. Your car is not going to always be parked at home. When you take it out, you'll have to shell out for the Parking Meter. If you don't have parking space at home, you'll have a high parking bill that will eat into your income.
Taking a loan from Insta Auto Loan will be able ease your financial burden, but not all of it. Be ready for additional expenses when you purchase your car.
Best cars to survive a snow storm
Tuesday 27 October 2015 at 10:16AM
Latest Version
Canada experiences the snowiest days in January with an average snowfall of 24.5 cm. When it constantly snows all through the night, it comes as no surprise that the roads are piled with snow. It can make driving close to impossible and you have to wait for the Municipality to clear the roads before you get going. However, with the right car, driving through snow laden roads or even snowstorms is quite possible.
Here are the best cars you should think of buying if you are going to get around during a snowstorm.
Mitsubishi Lancer GSR
This is a car that can even manage a snow car rally. The Lancer is a comfortable sedan that can easily handle rough terrain. The computer-managed AWD system provides a very effective yaw control and amazing torque vectoring.
Under the hood, it has a 2.0-liter turbocharged inline 4-cylinder engine that delivers 291 hp and 300 lb-ft of torque. If you opt for the four wheel drive version, then you are driving a sedan that is unstoppable during a snowstorm.
Porsche Panamera 4S
Porsche Panamera 4S is a sedan that is more than enough to satisfy your speed thrills and can handle rough weather. The exterior LED lighting gives the car a great signature look and has enough power to light up your way. The cabin inside is very comfortable and with effective climate control, you won't feel the effects of a snowstorm inside.
The Panamera packs a 3.0-liter twin-turbo V6 that generates 420 hp and 384 lb-ft of torque. Porsche Traction Management is quite efficient in ensuring you drive safely.
Jeep Wrangler
One of the best off roading vehicles out in the market is a Jeep Wrangler. It can easily handle rough roads and its powerful lights can help you see through a snowstorm. The Rock-Trac 4WD system and Tru-Lok front and rear locking features make it efficient while driving through a snowstorm.
The 3.6-liter V6 engine ensures the tires keep spinning and produces a 285 hp.
Subaru Crosstrek
Subaru is one the most family friendly and popular crossover vehicles in the market, and it can handle snowy weather. It has an advantage of being simple, yet efficient. The all wheel drive characteristic of the car can manage heavy snow and snowstorms. The cabin is quite spacious and comfortable for passengers. Add to that, it has a high ground clearness of 8.7 inch.
Under the bonnet, it has a 2.0-liter DOHC boxer engine that gives a 148 hp and 145 lb-ft of torque.
Toyota Sienna
This is a minivan that can handle rough snowy weather. Sienna is a good option if you need to get your family to the ski resort. The interior is quite spacious and comfortable. The infotainment system ensures your passengers won't get bored. The Easy Speak system makes certain that the driver's voice reaches all the passengers. Toyota Sienna is powered by 3.5-liter V-6 engine that generates a 266 hp.
What if you can't afford any of these cars on this list? Well, you don't have to give up on your dream car. At Insta Auto Loan, you can apply for a loan and get credits within 24 hours, even if you got a bad credit score.
Tuesday 27 October 2015 at 10:16AM
Latest Version
Canada experiences the snowiest days in January with an average snowfall of 24.5 cm. When it constantly snows all through the night, it comes as no surprise that the roads are piled with snow. It can make driving close to impossible and you have to wait for the Municipality to clear the roads before you get going. However, with the right car, driving through snow laden roads or even snowstorms is quite possible.
Here are the best cars you should think of buying if you are going to get around during a snowstorm.
Mitsubishi Lancer GSR
This is a car that can even manage a snow car rally. The Lancer is a comfortable sedan that can easily handle rough terrain. The computer-managed AWD system provides a very effective yaw control and amazing torque vectoring.
Under the hood, it has a 2.0-liter turbocharged inline 4-cylinder engine that delivers 291 hp and 300 lb-ft of torque. If you opt for the four wheel drive version, then you are driving a sedan that is unstoppable during a snowstorm.
Porsche Panamera 4S
Porsche Panamera 4S is a sedan that is more than enough to satisfy your speed thrills and can handle rough weather. The exterior LED lighting gives the car a great signature look and has enough power to light up your way. The cabin inside is very comfortable and with effective climate control, you won't feel the effects of a snowstorm inside.
The Panamera packs a 3.0-liter twin-turbo V6 that generates 420 hp and 384 lb-ft of torque. Porsche Traction Management is quite efficient in ensuring you drive safely.
Jeep Wrangler
One of the best off roading vehicles out in the market is a Jeep Wrangler. It can easily handle rough roads and its powerful lights can help you see through a snowstorm. The Rock-Trac 4WD system and Tru-Lok front and rear locking features make it efficient while driving through a snowstorm.
The 3.6-liter V6 engine ensures the tires keep spinning and produces a 285 hp.
Subaru Crosstrek
Subaru is one the most family friendly and popular crossover vehicles in the market, and it can handle snowy weather. It has an advantage of being simple, yet efficient. The all wheel drive characteristic of the car can manage heavy snow and snowstorms. The cabin is quite spacious and comfortable for passengers. Add to that, it has a high ground clearness of 8.7 inch.
Under the bonnet, it has a 2.0-liter DOHC boxer engine that gives a 148 hp and 145 lb-ft of torque.
Toyota Sienna
This is a minivan that can handle rough snowy weather. Sienna is a good option if you need to get your family to the ski resort. The interior is quite spacious and comfortable. The infotainment system ensures your passengers won't get bored. The Easy Speak system makes certain that the driver's voice reaches all the passengers. Toyota Sienna is powered by 3.5-liter V-6 engine that generates a 266 hp.
What if you can't afford any of these cars on this list? Well, you don't have to give up on your dream car. At Insta Auto Loan, you can apply for a loan and get credits within 24 hours, even if you got a bad credit score.
Bad Credit Auto Loan
Tuesday 24 November 2015 at 10:48AM
Latest Version
Getting an auto loan without a good credit score is extremely difficult.
What qualifies as a good credit score - A credit score that is above 600.
But, why is a good credit score needed in the first place? In the financial world, a person's credit score determines how financially responsible a person is and how likely the borrower is to return the money.
Is this system flawed? Heck, yes. A credit score does not take into account the financial or emotional troubles you are dealing with, whether a loved one is in an accident, or you're going through a divorce. In short, the financial and credit system is not perfect.
Why do you have a bad credit score?
This is a question many auto loan seekers ask when hunting for a loan.
- Missing Monthly Payments
The most common reason for having a bad credit score is missing the monthly debt payments. Every missed monthly payment is noted in your credit history and this does not look good in your credit report.
Additionally, the longer you miss monthly payments, the more debt you gather, until you ultimately default on the debt.
- Bankruptcy
Making a bad investment or just having too much debt can leave you with no option but to file for bankruptcy. In the financial world, bankruptcy is a black mark that is recorded on your credit report and negatively affects your credit score.
- Divorce
Divorce can leave you with bad credit because of the financial and emotional turmoil that it puts you through. Emotional distress will result in making debt payment a low priority, while you rack up charges from the lawyer, and your finances get spilt with your ex-spouse.
The Problem with Many Auto Loan Applications
Getting an auto loan with a bad credit score is tough. Most financial institutions will refuse your loan application. You can try applying for a loan at your bank and other financial institutions.
However, putting in too many applications for an auto loan poses a problem.
The more places you apply for an auto loan, the higher number of times these organizations will request for your credit report. This high number will have a negative effect on your credit history and score.
What Can You Do?
Your best option instead of trying out various financial institutions, and further damaging your credit score, is to apply to one place who will guarantee to give you the car loan. Insta Auto Loan does just that.
The application process is completely simple and entirely online. Once you type in your details, your application is safely stored. Within 24 hours, your auto loan will be approved by Insta Auto Loan. Your car loan application will be approved irrespective of whether you have a bad credit score or are bankrupt.
Also, this gives you an opportunity to improve your credit score by regularly paying your monthly payment without fail.
Tuesday 24 November 2015 at 10:48AM
Latest Version
Getting an auto loan without a good credit score is extremely difficult.
What qualifies as a good credit score - A credit score that is above 600.
But, why is a good credit score needed in the first place? In the financial world, a person's credit score determines how financially responsible a person is and how likely the borrower is to return the money.
Is this system flawed? Heck, yes. A credit score does not take into account the financial or emotional troubles you are dealing with, whether a loved one is in an accident, or you're going through a divorce. In short, the financial and credit system is not perfect.
Why do you have a bad credit score?
This is a question many auto loan seekers ask when hunting for a loan.
- Missing Monthly Payments
The most common reason for having a bad credit score is missing the monthly debt payments. Every missed monthly payment is noted in your credit history and this does not look good in your credit report.
Additionally, the longer you miss monthly payments, the more debt you gather, until you ultimately default on the debt.
- Bankruptcy
Making a bad investment or just having too much debt can leave you with no option but to file for bankruptcy. In the financial world, bankruptcy is a black mark that is recorded on your credit report and negatively affects your credit score.
- Divorce
Divorce can leave you with bad credit because of the financial and emotional turmoil that it puts you through. Emotional distress will result in making debt payment a low priority, while you rack up charges from the lawyer, and your finances get spilt with your ex-spouse.
The Problem with Many Auto Loan Applications
Getting an auto loan with a bad credit score is tough. Most financial institutions will refuse your loan application. You can try applying for a loan at your bank and other financial institutions.
However, putting in too many applications for an auto loan poses a problem.
The more places you apply for an auto loan, the higher number of times these organizations will request for your credit report. This high number will have a negative effect on your credit history and score.
What Can You Do?
Your best option instead of trying out various financial institutions, and further damaging your credit score, is to apply to one place who will guarantee to give you the car loan. Insta Auto Loan does just that.
The application process is completely simple and entirely online. Once you type in your details, your application is safely stored. Within 24 hours, your auto loan will be approved by Insta Auto Loan. Your car loan application will be approved irrespective of whether you have a bad credit score or are bankrupt.
Also, this gives you an opportunity to improve your credit score by regularly paying your monthly payment without fail.
Staying with budget this holiday season and improving your credit score
Tuesday 22 December 2015 at 10:24AM
Latest Version
Staying frugal during the Christmas season can be very difficult. What's worse is that you may even land up overspending. This can't be a good thing if you are trying to repay your debts and get back on top of your credit. Christmas has no lack of challenges in staying frugal – gifts, outings, new clothing to be bought and indulging in sugary foods will tempt you to spend more than you can.
So how do you face down these challenges and still save enough money to pay your debts?
Create a Christmas Budget
Financial planning at its best is through a budget. Take into account all your unique expenses for this month - best to do this with a list. Write up a list of all the people you have to gift. Include any outings you may be expected to attend. Will you be hosting a Christmas meal at home for close friends and family members? Note that down too.
At the end of this process, you will have listed down all the expenses that you have to make during the month. You can now decide which expenses you can afford and the ones you can't.
Don't be Cheap, Be Creative
No one wants to be cheap during Christmas, so don't be; rather be creative. Buying gifts for your brothers, sisters, nieces, nephews, etc can be an expensive affair, so learn how to cut it down. Giving gifts is an opportunity to show your creativity, and not just your artistic creativity.
Don't focus so much the price of a product.
- Emotional Value
Gifts that carry emotional value beat a million-dollar gift hands down. Find something that the person holds dear. It could be an old photography album you found or something you have personally made.
- Functionality
A gift that offers functional utility will come in handy for any person. It can be as simple as a UBS storage device or a tool box.
Start Shopping Early
Getting a head start on Christmas shopping gets you the best offers first. It saves you from those terrible experiences of last minute shopping. You will never face the challenge of adapting when you realize the store is out of stock of that particular item you need. Plus, you avoid the crazy Christmas rush.
Keep Tracking your Money
The best way to ensure that you are not overspending is to constantly keep track of your money. With smartphone budgeting apps, you can keep track of your spending in real time. This way you can immediately compare your spending with your planned budget and check much on track are you.
Get what you need and get out
If overspending is a common problem, then this point is especially for you. When your gift or grocery shopping, pick only what you need and when you're done –leave! This is the best way to stop yourself from getting suckered into buying things that have a good price, but you don't need.
Skipping one debt payment, even if it is Christmas season, can negatively affect your credit score. So don't do it!
If you're in a need of a car this Christmas, but short on cash, get in touch with Insta Auto Loan. We have credit options that suit your need.
Tuesday 22 December 2015 at 10:24AM
Latest Version
Staying frugal during the Christmas season can be very difficult. What's worse is that you may even land up overspending. This can't be a good thing if you are trying to repay your debts and get back on top of your credit. Christmas has no lack of challenges in staying frugal – gifts, outings, new clothing to be bought and indulging in sugary foods will tempt you to spend more than you can.
So how do you face down these challenges and still save enough money to pay your debts?
Create a Christmas Budget
Financial planning at its best is through a budget. Take into account all your unique expenses for this month - best to do this with a list. Write up a list of all the people you have to gift. Include any outings you may be expected to attend. Will you be hosting a Christmas meal at home for close friends and family members? Note that down too.
At the end of this process, you will have listed down all the expenses that you have to make during the month. You can now decide which expenses you can afford and the ones you can't.
Don't be Cheap, Be Creative
No one wants to be cheap during Christmas, so don't be; rather be creative. Buying gifts for your brothers, sisters, nieces, nephews, etc can be an expensive affair, so learn how to cut it down. Giving gifts is an opportunity to show your creativity, and not just your artistic creativity.
Don't focus so much the price of a product.
- Emotional Value
Gifts that carry emotional value beat a million-dollar gift hands down. Find something that the person holds dear. It could be an old photography album you found or something you have personally made.
- Functionality
A gift that offers functional utility will come in handy for any person. It can be as simple as a UBS storage device or a tool box.
Start Shopping Early
Getting a head start on Christmas shopping gets you the best offers first. It saves you from those terrible experiences of last minute shopping. You will never face the challenge of adapting when you realize the store is out of stock of that particular item you need. Plus, you avoid the crazy Christmas rush.
Keep Tracking your Money
The best way to ensure that you are not overspending is to constantly keep track of your money. With smartphone budgeting apps, you can keep track of your spending in real time. This way you can immediately compare your spending with your planned budget and check much on track are you.
Get what you need and get out
If overspending is a common problem, then this point is especially for you. When your gift or grocery shopping, pick only what you need and when you're done –leave! This is the best way to stop yourself from getting suckered into buying things that have a good price, but you don't need.
Skipping one debt payment, even if it is Christmas season, can negatively affect your credit score. So don't do it!
If you're in a need of a car this Christmas, but short on cash, get in touch with Insta Auto Loan. We have credit options that suit your need.
What is negotiable when buying a car?
Tuesday 19 January 2016 at 11:26AM
Latest Version
If you're tight on cash, negotiating a price can be an effective way to get some breathing room. This holds true whether you are purchasing a new or used car. Buying a car is not so simple as sliding across the money and getting the car keys in return. You have to get a warranty, insurance and accessories. All of which are negotiable.
Here's what you can negotiate to sweeten the car deal and save more.
The Sticker Price
Unless the dealership has a strict policy on no-negotiation, the sticker price is always negotiable. The same holds true if you are buying a used car. However, in general, used cars are always easier to negotiate for a lower price than a new car.
You need to do your research when buying the car. Know the market price and the defects and problems that the car faces. Leverage this information to get the price lowered.
Trade-in
Already got a car, you can trade it in. Ensure your used car is in tip-top condition so that you can get the maximum out of it. More importantly, trade-in your used car with the same dealer or seller you are buying your new car from. Know the market price of the car, so you can negotiate the best price possible for it.
Insurance Rate
Picking an insurance plan for your vehicle gives you a lot of freedom. It's best to pick one that covers the accident victim and your own car. Speak with the insurance companies, present your financial situation to them and negotiate an interest rate that is suitable for you.
Accessories
Negotiating for accessories can go two ways. Either, you convince the dealership to shed some of the accessories to lower the price of the car, or, get them to throw in some freebie accessories. Accessories always add fun to a car, but some of them can significantly increase the car's cost.
Warranty
A new car will come up with warranty, but a used car most probably won't. In such a case, you have the option to select a warranty for a used car or an extend warranty for the new car. However, the downside, is that you will have to shell out more. You can avoid these to bring the cost of the car down.
Walk in with your finance ready
If you don't have the cash, you can acquire an auto loan to buy the car. Don't depend on the in-house financial support of a dealership. Secure your own financing when you go to buy the car. This simply gives you more negotiating power to bring down the car's price.
Non-Negotiable
There are three things that you can't negotiate on.
- Sales Tax
- Documentation Tax
- Tag and Titles Tax
Considering that they are taxes, they are controlled by the government.
If you are in need of a car loan, get in touch with Insta Auto Loans. An easy procedure ensures that you get an auto loan with no hassle, even if you have bad credit. When you're low on savings, it's best to try and save as much as possible. Let these points help you.
Tuesday 19 January 2016 at 11:26AM
Latest Version
If you're tight on cash, negotiating a price can be an effective way to get some breathing room. This holds true whether you are purchasing a new or used car. Buying a car is not so simple as sliding across the money and getting the car keys in return. You have to get a warranty, insurance and accessories. All of which are negotiable.
Here's what you can negotiate to sweeten the car deal and save more.
The Sticker Price
Unless the dealership has a strict policy on no-negotiation, the sticker price is always negotiable. The same holds true if you are buying a used car. However, in general, used cars are always easier to negotiate for a lower price than a new car.
You need to do your research when buying the car. Know the market price and the defects and problems that the car faces. Leverage this information to get the price lowered.
Trade-in
Already got a car, you can trade it in. Ensure your used car is in tip-top condition so that you can get the maximum out of it. More importantly, trade-in your used car with the same dealer or seller you are buying your new car from. Know the market price of the car, so you can negotiate the best price possible for it.
Insurance Rate
Picking an insurance plan for your vehicle gives you a lot of freedom. It's best to pick one that covers the accident victim and your own car. Speak with the insurance companies, present your financial situation to them and negotiate an interest rate that is suitable for you.
Accessories
Negotiating for accessories can go two ways. Either, you convince the dealership to shed some of the accessories to lower the price of the car, or, get them to throw in some freebie accessories. Accessories always add fun to a car, but some of them can significantly increase the car's cost.
Warranty
A new car will come up with warranty, but a used car most probably won't. In such a case, you have the option to select a warranty for a used car or an extend warranty for the new car. However, the downside, is that you will have to shell out more. You can avoid these to bring the cost of the car down.
Walk in with your finance ready
If you don't have the cash, you can acquire an auto loan to buy the car. Don't depend on the in-house financial support of a dealership. Secure your own financing when you go to buy the car. This simply gives you more negotiating power to bring down the car's price.
Non-Negotiable
There are three things that you can't negotiate on.
- Sales Tax
- Documentation Tax
- Tag and Titles Tax
Considering that they are taxes, they are controlled by the government.
If you are in need of a car loan, get in touch with Insta Auto Loans. An easy procedure ensures that you get an auto loan with no hassle, even if you have bad credit. When you're low on savings, it's best to try and save as much as possible. Let these points help you.
Know the sounds of your car
Thursday 04 February 2016 at 10:26AM
Latest Version
The way a car rumbles can tell you a lot about the engine and the condition of a car. By the simple sound of your car engine, you can repair it before a problem occurs and actually leaves you stranded on the road with an engine that won't start. You fix a problem before a car part breaks down.
Your car does not have to emit the sound of a Formula One car for you know there's a problem. If you drive a car, then you may have already heard these sounds. If not, then really start listening to your car when you're sitting in it.
Squealing when your Tires Brake
This happens more on rainy and wet days. This squeal happens exactly when the brake presses on the disc to stop the car. It suggests that your brake pads are wearing and will have to be replaced in the future.
Grinding when you Brake
When you hear this sound, it is a clear indication that your brake pads are completely worn out and need to be replaced immediately.
Hissing when Idle
Does the car emit a hissing sound when it is idle? Next time you are waiting for someone and have the engine running, turn off the music and just listen. If you do hear a hissing sound when the car is idle, then the car possibly has a leak.
Ticking sound when Driving
Do you hear ticking sounds when you are driving? Especially, when you are shifting the gear? This is an indication of a serious problem that you can't ignore. Your car's gearshift is needs lubrication and could stop working very soon.
Whistling sounds from Under the Hood
Do you hear whistling under the hood? Check for vacuum leaks in the engine.
Off Beat Rhythm from the Engine
At the time you may find that your car engine is not vibrating and giving the usual sound that it does. Rather, it is the usual sound, mixed with an off-beat sound. It is highly possible that the engine is misfiring. The spark plugs need to be checked. Turn of the engine and wait for it to cool down. Check the wiring around the spark plugs. If you can't find anything wrong, you need to remove the spark plugs and see if they are cleaned.
If the spark plugs are burned, then they need to be replaced.
Rumbling Behind the Car
Rumbling emitting from the rear of the car indicates a problem with the exhaust pipe, catalytic converter or a car joint. This is not something to be taken lightly.
Clicking from the Engine
This is a sign that the oil in your engine is low. If you ignore this, you're raking up the costs in the next maintenance check of your car.
There are a dozen more weird and unexpected sounds you could hear from your car. If you don't know what they are about, get your car checked with the garage. These are warning sounds that something is wrong with your car.
Thursday 04 February 2016 at 10:26AM
Latest Version
The way a car rumbles can tell you a lot about the engine and the condition of a car. By the simple sound of your car engine, you can repair it before a problem occurs and actually leaves you stranded on the road with an engine that won't start. You fix a problem before a car part breaks down.
Your car does not have to emit the sound of a Formula One car for you know there's a problem. If you drive a car, then you may have already heard these sounds. If not, then really start listening to your car when you're sitting in it.
Squealing when your Tires Brake
This happens more on rainy and wet days. This squeal happens exactly when the brake presses on the disc to stop the car. It suggests that your brake pads are wearing and will have to be replaced in the future.
Grinding when you Brake
When you hear this sound, it is a clear indication that your brake pads are completely worn out and need to be replaced immediately.
Hissing when Idle
Does the car emit a hissing sound when it is idle? Next time you are waiting for someone and have the engine running, turn off the music and just listen. If you do hear a hissing sound when the car is idle, then the car possibly has a leak.
Ticking sound when Driving
Do you hear ticking sounds when you are driving? Especially, when you are shifting the gear? This is an indication of a serious problem that you can't ignore. Your car's gearshift is needs lubrication and could stop working very soon.
Whistling sounds from Under the Hood
Do you hear whistling under the hood? Check for vacuum leaks in the engine.
Off Beat Rhythm from the Engine
At the time you may find that your car engine is not vibrating and giving the usual sound that it does. Rather, it is the usual sound, mixed with an off-beat sound. It is highly possible that the engine is misfiring. The spark plugs need to be checked. Turn of the engine and wait for it to cool down. Check the wiring around the spark plugs. If you can't find anything wrong, you need to remove the spark plugs and see if they are cleaned.
If the spark plugs are burned, then they need to be replaced.
Rumbling Behind the Car
Rumbling emitting from the rear of the car indicates a problem with the exhaust pipe, catalytic converter or a car joint. This is not something to be taken lightly.
Clicking from the Engine
This is a sign that the oil in your engine is low. If you ignore this, you're raking up the costs in the next maintenance check of your car.
There are a dozen more weird and unexpected sounds you could hear from your car. If you don't know what they are about, get your car checked with the garage. These are warning sounds that something is wrong with your car.
Survival tips for car buyers with bad credit
Monday 28 March 2016 at 11:53AM
Latest Version
Bad credit doesn't necessarily mean putting your dreams of buying your desired car on the backburner. Difficult as it may seem to believe, there are options available for people with a tarnished credit image. Young people generally run in to bad credit and are left hopeless due to their circumstances. However, there are certain alternate ways of getting a loan. For instance, your spouse can act as a co-signee for taking a loan. Before delving into these alternate arrangements, it is important to focus on yourself first.
As the popular adage goes, 'There is always light at the end of the tunnel'. Putting it in perspective, people with a bad credit score have their entire lives ahead to resolve the issue. Only you hold the power to alter your condition.
People with bad credit generally tend to lose faith and eventually, self-confidence. They become upset and wary at the slightest provocation. While these feelings are perfectly natural, to keep oneself assured, there are tips to be followed:
- Look Ahead: Accept your circumstances. Staying in a state of denial isn't going to fix anything for you or your spouse. One needs to accept and plan ahead in life. Whatever had happened, it is in the past.
- Be Positive: Stop being irate and smug! Everybody has problems in life and no problem is bigger than the other. Keep chanting to yourself – I WILL OVERCOME THIS.
- Cherish Relationships: Be around people who love you and care about you. Hang out with people who infuse positivity and energy.
Having said that, there are various alternates provided for people with bad credit:
- Moneylenders: A bank is not the only organization that can be approached for a loan. Certain individuals are licensed moneylenders. They can you give you auto loan with minimal or no collateral. Ensure that you carefully go through all terms and conditions.
- Family as co-signee: Maybe your spouse who has had a good credit run or someone from your family who is financially secure can co-sign an auto loan for you. This way, credit scores of you and your family member will improve and eventually benefit both. However, take note that both of you will be equally liable for any decision executed on the impugned loan thereof.
- Local Organizations: These organizations act as Unions and offer various services. One such service is providing auto loans. The pre-requisite is that you have to be a member of the Union, which is an easy process to go ahead with.
- Creditors: Playing cat-and-mouse with your already existing creditors isn't going to help you in any way. So it's better to be upfront with them. As they are aware of the latest trends in the marketplace, they will be able to guide you on your future course of action.
Remember that people with bad credit can also get the best deals possible and a great car loan!
Monday 28 March 2016 at 11:53AM
Latest Version
Bad credit doesn't necessarily mean putting your dreams of buying your desired car on the backburner. Difficult as it may seem to believe, there are options available for people with a tarnished credit image. Young people generally run in to bad credit and are left hopeless due to their circumstances. However, there are certain alternate ways of getting a loan. For instance, your spouse can act as a co-signee for taking a loan. Before delving into these alternate arrangements, it is important to focus on yourself first.
As the popular adage goes, 'There is always light at the end of the tunnel'. Putting it in perspective, people with a bad credit score have their entire lives ahead to resolve the issue. Only you hold the power to alter your condition.
People with bad credit generally tend to lose faith and eventually, self-confidence. They become upset and wary at the slightest provocation. While these feelings are perfectly natural, to keep oneself assured, there are tips to be followed:
- Look Ahead: Accept your circumstances. Staying in a state of denial isn't going to fix anything for you or your spouse. One needs to accept and plan ahead in life. Whatever had happened, it is in the past.
- Be Positive: Stop being irate and smug! Everybody has problems in life and no problem is bigger than the other. Keep chanting to yourself – I WILL OVERCOME THIS.
- Cherish Relationships: Be around people who love you and care about you. Hang out with people who infuse positivity and energy.
Having said that, there are various alternates provided for people with bad credit:
- Moneylenders: A bank is not the only organization that can be approached for a loan. Certain individuals are licensed moneylenders. They can you give you auto loan with minimal or no collateral. Ensure that you carefully go through all terms and conditions.
- Family as co-signee: Maybe your spouse who has had a good credit run or someone from your family who is financially secure can co-sign an auto loan for you. This way, credit scores of you and your family member will improve and eventually benefit both. However, take note that both of you will be equally liable for any decision executed on the impugned loan thereof.
- Local Organizations: These organizations act as Unions and offer various services. One such service is providing auto loans. The pre-requisite is that you have to be a member of the Union, which is an easy process to go ahead with.
- Creditors: Playing cat-and-mouse with your already existing creditors isn't going to help you in any way. So it's better to be upfront with them. As they are aware of the latest trends in the marketplace, they will be able to guide you on your future course of action.
Remember that people with bad credit can also get the best deals possible and a great car loan!
How to review your credit situation?
Tuesday 19 April 2016 at 10:48AM
Latest Version
The start of a new year is the best time to take stock of your credit and debt status. Why should you do it? To know how much debt you owe and know if your financial condition allows you to borrow money.
So how do you review your credit situation?
Take a look at all your Financial Documents
From your bank statements to credit cards bills, pull up all of last year's financial documents and go through them.
Once you have done that, get your hands on your credit report. You can get your credit report from the two Credit Bureaus in Canada - Equifax and TransUnion. You will get them for free if you ask the credit bureau to send it by mail.
The credit report is a detailed document containing your credit history and every other financial detail.
What to look for in your Financial Documents
- Review all the transactions you've had. Ensure that there is a consistency between the bills and the credit report. If you find a transaction that you can't remember or an unlisted transaction, contact your lender agency immediately. You could be a victim of fraud.
- Find out if you have been making your monthly payments.
- Which debts have you defaulted on?
- How much debt do you owe?
- Who do you owe?
- The interest rates charged by various debts.
This will give you an overall picture of where you credit situation stands. Take a look at your credit score. Credit score is basically a rating on your credit situation. If it is below 500, then you need to improve it.
Improve your Credit Situation
You need to improve your credit situation by reducing the debts you are under. Here's how you can do that.
- Never Miss a Debt Payment
The best way to build your credit situation and reduce debt is to always make your monthly debt payment. Every payment you make reduces the debt burdening you and at the same time, reduces the effect of interest rate on that debt.
- Talk to the Lender
Sit down with the lender and go over the details of your financial situation. Attempt to convince them and re-negotiate the debt. You can ask them to reduce the monthly debt payment, increase the debt time period or lower the interest rate.
- Buy a Car
If you've been consideringbuying a car, then taking a car loan will actually work in your favor. It gives you a fresh opportunity to build good credit history. However, because of a low credit score, most lender agencies will not approve your car loan application. Insta Auto Loan does not discriminate when giving car loans, so best to apply with them.
Reviewing your credit situation is just a good way to know where you stand and ensure that you haven't forgotten to pay any debts. Ultimately, this is a good way to stay financially healthy.
Tuesday 19 April 2016 at 10:48AM
Latest Version
The start of a new year is the best time to take stock of your credit and debt status. Why should you do it? To know how much debt you owe and know if your financial condition allows you to borrow money.
So how do you review your credit situation?
Take a look at all your Financial Documents
From your bank statements to credit cards bills, pull up all of last year's financial documents and go through them.
Once you have done that, get your hands on your credit report. You can get your credit report from the two Credit Bureaus in Canada - Equifax and TransUnion. You will get them for free if you ask the credit bureau to send it by mail.
The credit report is a detailed document containing your credit history and every other financial detail.
What to look for in your Financial Documents
- Review all the transactions you've had. Ensure that there is a consistency between the bills and the credit report. If you find a transaction that you can't remember or an unlisted transaction, contact your lender agency immediately. You could be a victim of fraud.
- Find out if you have been making your monthly payments.
- Which debts have you defaulted on?
- How much debt do you owe?
- Who do you owe?
- The interest rates charged by various debts.
This will give you an overall picture of where you credit situation stands. Take a look at your credit score. Credit score is basically a rating on your credit situation. If it is below 500, then you need to improve it.
Improve your Credit Situation
You need to improve your credit situation by reducing the debts you are under. Here's how you can do that.
- Never Miss a Debt Payment
The best way to build your credit situation and reduce debt is to always make your monthly debt payment. Every payment you make reduces the debt burdening you and at the same time, reduces the effect of interest rate on that debt.
- Talk to the Lender
Sit down with the lender and go over the details of your financial situation. Attempt to convince them and re-negotiate the debt. You can ask them to reduce the monthly debt payment, increase the debt time period or lower the interest rate.
- Buy a Car
If you've been consideringbuying a car, then taking a car loan will actually work in your favor. It gives you a fresh opportunity to build good credit history. However, because of a low credit score, most lender agencies will not approve your car loan application. Insta Auto Loan does not discriminate when giving car loans, so best to apply with them.
Reviewing your credit situation is just a good way to know where you stand and ensure that you haven't forgotten to pay any debts. Ultimately, this is a good way to stay financially healthy.
Tips for Selling Your Car
Thursday 05 May 2016 at 10:34AM
Latest Version
There comes a time when a person has to sell their car because – it's too old, too damn expensive to maintain, or you just want to buy a new car. You obviously want the best price for your car. Selling a car is not as simple as buying one. This is because your car is used and not at its peak condition and you have to hunt and negotiate with many car buyers before you find one that is willing to meet your price.
Get your Car Ready
Before you take your car to a car dealer, you need to prep it up.
- Have a mechanic take a look at the engine and fine-tune it as best as possible without creating an expensive repair bill.
- Have cleaning professionals clean the inside of your car to remove stains and get rid of any stale smells.
- Give the car exterior a good wax so that it shines.
Have your Vehicle History Report
Most car dealers won't accept your car without a vehicle history report. This is an official document that provides details such as car model, name of manufacturer, date of manufacture and any accidents or criminal problems the car has been in.
Set the Right Price
Set the car price too high and no car dealer will accept it, set it too low and you miss a profit – either way, you lose.
- Research the market and find out what is the basic price for exactly the same car model in the market.
- Take any problems in your car into account like a non-working heater.
- When you finally tell a dealer of the price you have, ask for a price slightly higher than what you set. This way you have leverage room to lower it.
Where to Sell the Car
You have a wide range of options to sell your car. This is important because if you want the best price for it, you have to try all opportunities. Apart from local dealers, you have many website likes AutoTrader, and Craglist.
Add to that, if you are planning to buy another car, a very good option would be to sell the car to the dealer you are planning to buy your new car from. This capitalizes on your working relationship with the car dealer.
Give the Car for a Test Drive
Whether you are dealing with car dealerships or individual buyers, they will want to take the car for a test drive. They are not just evaluating the car, but they are also evaluating you during a test drive.
Be ready for trick questions like, "What's wrong with the car?"
The best strategy is to be completely honest. This way you can win over the trust of the buyer and be in a better position to sell the car at your price.
Even after you sell your car, you won't have enough to pay for a new car. You can take a loan from Insta Auto Loan. Once you apply, your auto loan application will be approved in 24 hours.
Thursday 05 May 2016 at 10:34AM
Latest Version
There comes a time when a person has to sell their car because – it's too old, too damn expensive to maintain, or you just want to buy a new car. You obviously want the best price for your car. Selling a car is not as simple as buying one. This is because your car is used and not at its peak condition and you have to hunt and negotiate with many car buyers before you find one that is willing to meet your price.
Get your Car Ready
Before you take your car to a car dealer, you need to prep it up.
- Have a mechanic take a look at the engine and fine-tune it as best as possible without creating an expensive repair bill.
- Have cleaning professionals clean the inside of your car to remove stains and get rid of any stale smells.
- Give the car exterior a good wax so that it shines.
Have your Vehicle History Report
Most car dealers won't accept your car without a vehicle history report. This is an official document that provides details such as car model, name of manufacturer, date of manufacture and any accidents or criminal problems the car has been in.
Set the Right Price
Set the car price too high and no car dealer will accept it, set it too low and you miss a profit – either way, you lose.
- Research the market and find out what is the basic price for exactly the same car model in the market.
- Take any problems in your car into account like a non-working heater.
- When you finally tell a dealer of the price you have, ask for a price slightly higher than what you set. This way you have leverage room to lower it.
Where to Sell the Car
You have a wide range of options to sell your car. This is important because if you want the best price for it, you have to try all opportunities. Apart from local dealers, you have many website likes AutoTrader, and Craglist.
Add to that, if you are planning to buy another car, a very good option would be to sell the car to the dealer you are planning to buy your new car from. This capitalizes on your working relationship with the car dealer.
Give the Car for a Test Drive
Whether you are dealing with car dealerships or individual buyers, they will want to take the car for a test drive. They are not just evaluating the car, but they are also evaluating you during a test drive.
Be ready for trick questions like, "What's wrong with the car?"
The best strategy is to be completely honest. This way you can win over the trust of the buyer and be in a better position to sell the car at your price.
Even after you sell your car, you won't have enough to pay for a new car. You can take a loan from Insta Auto Loan. Once you apply, your auto loan application will be approved in 24 hours.
Should You Really Buy a Car Warranty
Thursday 09 June 2016 at 11:37AM
Latest Version
The usual practice when buying a used car is to avoid the warranty. If you are buying a used car and considering skipping on the warranty, you may be making the wrong choice. It is important to remember that even the newest car, just off the manufacturing line, can be susceptible to defects and problems.
While avoiding a warranty may make buying a car cheaper, the question you need to ask yourself is, should you really skip it?
It's not as expensive as you think
Believe it or not, perception plays a big role in how you see the world. If you convince yourself that car warranties are expensive and a waste of money, they will seem that way. So why aren't they as expensive as you think?
- The car warranty for a used car is priced lower than a warranty for a new car.
- Get a car warranty that covers the basic engine, electronic and décor features of the car.
- Ask your car dealership for help. They are aware of all the ranges of warranties that you can access and will give the best suggestion for ones that will fit in your budget.
Don't let car repairs break your bank
Test drives and thorough car checks will ensure that the used car is in a working and good condition. However, it cannot be guaranteed. Unexpected car breakdowns or other problems can seriously drain your finances for fixing the car. Since you've already spent money to buy the car, you wouldn't want to throw it away; and because of its problems, you can't sell it off, either.
At such a moment, you'll be glad for having taken a warranty for the car. You will not have to shell out every last penny to buy expensive parts and get the car fixed.
Peace of Mind
If it's a secondhand car, you would have to be inhuman to not worry about it. A used car has been affected by wear-and-tear, and there is always the chance that it may break down. However, one thing you don't have to worry about is fixing the car. If it does break down, you have a warranty to help you get the car fixed quickly. A car warranty gets one worry off your head.
Shortage of Cash
If you are running short of cash to afford a warranty, then you need to shift some money around. Rather than paying for your car, take an auto loan and use your money to pay for a car warranty.
You can take an auto loan from Insta Auto Loan. The approval process is simplified since it is online and you will get approved within 24 hours of your auto loan application submission.
Don't compromise on a car warranty for your used car just because you can't afford it, or think that you don't need it.
These four points should make you think hard about your automobile priorities, and change the way you feel about being immune to requiring a warranty for your car.
Thursday 09 June 2016 at 11:37AM
Latest Version
The usual practice when buying a used car is to avoid the warranty. If you are buying a used car and considering skipping on the warranty, you may be making the wrong choice. It is important to remember that even the newest car, just off the manufacturing line, can be susceptible to defects and problems.
While avoiding a warranty may make buying a car cheaper, the question you need to ask yourself is, should you really skip it?
It's not as expensive as you think
Believe it or not, perception plays a big role in how you see the world. If you convince yourself that car warranties are expensive and a waste of money, they will seem that way. So why aren't they as expensive as you think?
- The car warranty for a used car is priced lower than a warranty for a new car.
- Get a car warranty that covers the basic engine, electronic and décor features of the car.
- Ask your car dealership for help. They are aware of all the ranges of warranties that you can access and will give the best suggestion for ones that will fit in your budget.
Don't let car repairs break your bank
Test drives and thorough car checks will ensure that the used car is in a working and good condition. However, it cannot be guaranteed. Unexpected car breakdowns or other problems can seriously drain your finances for fixing the car. Since you've already spent money to buy the car, you wouldn't want to throw it away; and because of its problems, you can't sell it off, either.
At such a moment, you'll be glad for having taken a warranty for the car. You will not have to shell out every last penny to buy expensive parts and get the car fixed.
Peace of Mind
If it's a secondhand car, you would have to be inhuman to not worry about it. A used car has been affected by wear-and-tear, and there is always the chance that it may break down. However, one thing you don't have to worry about is fixing the car. If it does break down, you have a warranty to help you get the car fixed quickly. A car warranty gets one worry off your head.
Shortage of Cash
If you are running short of cash to afford a warranty, then you need to shift some money around. Rather than paying for your car, take an auto loan and use your money to pay for a car warranty.
You can take an auto loan from Insta Auto Loan. The approval process is simplified since it is online and you will get approved within 24 hours of your auto loan application submission.
Don't compromise on a car warranty for your used car just because you can't afford it, or think that you don't need it.
These four points should make you think hard about your automobile priorities, and change the way you feel about being immune to requiring a warranty for your car.
How a Used Car Can Save you Money
Friday 08 July 2016 at 10:58AM
Latest Version
If you're short on cash, buying a used car might be a good option. In case you haven't thought about this option, you should. It will help you save money and you can definitely get a better deal for a used car over a new one.
It's Safe
First let's break the biggest misconception about used cars. Used cars are not unreliable and prone to breakdown - don't let those horror stories of used cars scare you! It depends from where you've bought the car.
The best place to buy a used car is not through a questionable website or a shady dealer even though they offer a huge discount. Rather, opt to buy a used car from a reputable and licensed dealership. This way if you have a problem with the car, you can always get back to the dealership.
Next, go for a refurbished car. This is a car that is tweaked and repaired by the manufacturer and will definitely not give you any problem.
Low Price
The biggest attraction of a used car is its low price. A used car can cost as much as 30-40% lesser than the market price of a new car of the same model. This means rather than buying a Nissan Micra at $10,000, you can spend exactly the same amount and purchase a better car like a Ford Fusion Sport (2009).
Not only are you saving money, but you are also buying a better car that you would have.
Lower Tax
Adding to a sweet deal of a low priced used car, you also have to pay lower taxes for it. The government charges lower vehicle, retail and sales tax because it is a used car.
Lower Insurance and Warranty Rates
While insurance is mandatory from the government, warranty is a must because whether your car is new or used, it may have minor defects.
Leveraging your safe driver record along with a safe used car, you can negotiate a lower insurance rate.
All dealerships will advise you to take a car warranty for your used car and you should. Plus, since it is a used car, you will get access to a lower rate.
Lesser or No Down Payment
If you are buying a used car through a loan, you expect to pay a lesser down payment than you would have to pay if it was a new car. More importantly, you have a better chance at convincing the seller to completely avoid a down payment.
Better Chance of a Loan
Since you are buying a used car, you are spending a lesser amount and you have a better chance of taking a loan. However, that does not guarantee that your loan application will get through. Factors like credit score may hinder your application from being accepted.
It would be better if you apply for a car loan through Insta Auto Loan. Since the whole process is online, it is easy and you will have your car loan approved within 24 hours.
All in all, buying a used car opens you up to a sweet deal.
Friday 08 July 2016 at 10:58AM
Latest Version
If you're short on cash, buying a used car might be a good option. In case you haven't thought about this option, you should. It will help you save money and you can definitely get a better deal for a used car over a new one.
It's Safe
First let's break the biggest misconception about used cars. Used cars are not unreliable and prone to breakdown - don't let those horror stories of used cars scare you! It depends from where you've bought the car.
The best place to buy a used car is not through a questionable website or a shady dealer even though they offer a huge discount. Rather, opt to buy a used car from a reputable and licensed dealership. This way if you have a problem with the car, you can always get back to the dealership.
Next, go for a refurbished car. This is a car that is tweaked and repaired by the manufacturer and will definitely not give you any problem.
Low Price
The biggest attraction of a used car is its low price. A used car can cost as much as 30-40% lesser than the market price of a new car of the same model. This means rather than buying a Nissan Micra at $10,000, you can spend exactly the same amount and purchase a better car like a Ford Fusion Sport (2009).
Not only are you saving money, but you are also buying a better car that you would have.
Lower Tax
Adding to a sweet deal of a low priced used car, you also have to pay lower taxes for it. The government charges lower vehicle, retail and sales tax because it is a used car.
Lower Insurance and Warranty Rates
While insurance is mandatory from the government, warranty is a must because whether your car is new or used, it may have minor defects.
Leveraging your safe driver record along with a safe used car, you can negotiate a lower insurance rate.
All dealerships will advise you to take a car warranty for your used car and you should. Plus, since it is a used car, you will get access to a lower rate.
Lesser or No Down Payment
If you are buying a used car through a loan, you expect to pay a lesser down payment than you would have to pay if it was a new car. More importantly, you have a better chance at convincing the seller to completely avoid a down payment.
Better Chance of a Loan
Since you are buying a used car, you are spending a lesser amount and you have a better chance of taking a loan. However, that does not guarantee that your loan application will get through. Factors like credit score may hinder your application from being accepted.
It would be better if you apply for a car loan through Insta Auto Loan. Since the whole process is online, it is easy and you will have your car loan approved within 24 hours.
All in all, buying a used car opens you up to a sweet deal.
Why Do You Need to Buy a Used Car From an Authorized Dealer?
Friday 12 August 2016 at 10:59AM
Latest Version
Thinking of buying a used car? Well, it is a good idea. Used cars are cheaper, you can afford a better car rather than go in for the cheapest car in the market and you have to pay low tax from the financial transaction.
While you will be sorted financially since you were able to get a car loan from Insta Auto Loan, it is not advisable to purchase a used car from an unlicensed dealership or seller. So why should you seek out an authorized dealership?
It Will be There Tomorrow
Whether it is Christmas season or another ordinary day, you will still find the dealership there. However, if you buy the car from an unlicensed dealership or seller, they can pack up and vanish anytime, leaving no chance of being contacted.
Being able to contact your dealership the next day, a month later or even a year later is important. If you realize that there is a major problem in the car that you weren't told of, you can go and visit the authorized dealership and bring them to task.
Care About Reputation
An authorized dealership is trying to build a business and factors like trust and reputation are very important to them. Your opinion matters to them because you can tell people about the bad experience you had with dealership and even put up an online review.
Because they care about their reputation, they will find a solution to any complaints you bring about the used car you bought.
Get a Refurbished Car
When it comes to buying a used car, your best option, without a doubt, is to buy a refurbished car. These are used cars that have been taken, repaired and tweaked for best performance by the manufacturer themselves. It guarantees the least amount of chances of actually coming across any problems. Only authorized dealerships sell refurbished cars.
Accepts Your Insta Auto Loan
Found a used car model that you really like? No problem, buy it. However, unless you are buying the car from an authorized dealership, the seller may not accept your auto loan. This is because most unauthorized sellers prefer to be paid in cash.
Avoid Stolen Cars
How sure are you that the car you're buying is not stolen? When you are buying a car from a seller, there is always the chance that the car is stolen. Furthermore, it is quite easy to counterfeit ownership documents and a vehicle report that the used car is a legitimate.
However, if you want to be completely sure that the car you are purchasing is not stolen, then you need to visit an authorized dealership.
If you are considering buying a used car, it would be wise to limit your options to dealership cars. They can be trustworthy and you can always get back to them if you have a problem with the car.
Friday 12 August 2016 at 10:59AM
Latest Version
Thinking of buying a used car? Well, it is a good idea. Used cars are cheaper, you can afford a better car rather than go in for the cheapest car in the market and you have to pay low tax from the financial transaction.
While you will be sorted financially since you were able to get a car loan from Insta Auto Loan, it is not advisable to purchase a used car from an unlicensed dealership or seller. So why should you seek out an authorized dealership?
It Will be There Tomorrow
Whether it is Christmas season or another ordinary day, you will still find the dealership there. However, if you buy the car from an unlicensed dealership or seller, they can pack up and vanish anytime, leaving no chance of being contacted.
Being able to contact your dealership the next day, a month later or even a year later is important. If you realize that there is a major problem in the car that you weren't told of, you can go and visit the authorized dealership and bring them to task.
Care About Reputation
An authorized dealership is trying to build a business and factors like trust and reputation are very important to them. Your opinion matters to them because you can tell people about the bad experience you had with dealership and even put up an online review.
Because they care about their reputation, they will find a solution to any complaints you bring about the used car you bought.
Get a Refurbished Car
When it comes to buying a used car, your best option, without a doubt, is to buy a refurbished car. These are used cars that have been taken, repaired and tweaked for best performance by the manufacturer themselves. It guarantees the least amount of chances of actually coming across any problems. Only authorized dealerships sell refurbished cars.
Accepts Your Insta Auto Loan
Found a used car model that you really like? No problem, buy it. However, unless you are buying the car from an authorized dealership, the seller may not accept your auto loan. This is because most unauthorized sellers prefer to be paid in cash.
Avoid Stolen Cars
How sure are you that the car you're buying is not stolen? When you are buying a car from a seller, there is always the chance that the car is stolen. Furthermore, it is quite easy to counterfeit ownership documents and a vehicle report that the used car is a legitimate.
However, if you want to be completely sure that the car you are purchasing is not stolen, then you need to visit an authorized dealership.
If you are considering buying a used car, it would be wise to limit your options to dealership cars. They can be trustworthy and you can always get back to them if you have a problem with the car.
What should you think of before selling your car?
Tuesday 20 September 2016 at 2:02PM
Latest Version
There will come a time when you'll be happy and sad to let go of your old car. It is not just a car, it has a life of its own. All those family picnics, numerous trips, speeding tickets and other bitter sweet memories are now associated with that car.
Letting go may be hard, but all good things come to an end, plus you can purchase a new and better car. By selling your car, you have money to make buy to another car.
We have some tips to help you make the sale easier for you.
Condition of the car
Get your car checked by a trusted mechanic. A certificate from the mechanic will act as a proof of the condition, you claim your car is in. It will also help you know, the amount and kind of repairs and touch ups your car needs. These timely repairs will help maintain car's quality and will not lead to a breakdown at the time of a test drive.
Also, you won't have to lie about the condition of the vehicle.
Know the market
Demands of the people are ever changing.You don't have to be an analyst to know the market scenario. A simple glance at a local used car dealer's listings and classifieds, will tell you about present market demands. Talking to your friends and family will also help.
Pricing
Pricing has to be determined on the basis of market scenario and demand for the certain model. Quote too high a price, and the highballing will discourage a prospective buyer. Know what you expect from the car.
Getting help from a local car financer and consultant can help you come to a proper price.
How to advertise
Local forums and classifieds websites can be of a great use. Mention all details clearly and don't leave out any relevant details. Do not oversell the car, just mention the information. Perfectly mention your expectations. Make your ads catchy and tell all your friends.
Negotiations
Patience is of utmost importance while selling a car. A buyer may be interested in your car but could play hardball to get you to decrease the price. If you feel there will be no deal, don't panic. If the buyer is genuinely interested, he will be back.
Paperwork
Have all papers of your car in order. If you have a loan on the car, make sure you find the exact payoff amount. Have a bill of sale you received from the previous owner / dealer read. That is a proof of your ownership. It entitles you to transfer the ownership of the car to a buyer. Give the buyer a bill of sale signed by you and keep a copy for yourself.
Selling a car can be difficult and problematic. But if done right you can give your old ride a smooth farewell. Seeking advice from a professional can be considered to avoid being cheated.
The car sale will give you enough to make a down payment to buy a new car. With the help of Insta Auto Loan, you can easily take a loan so you don't fall short on buying your next dream car.
Tuesday 20 September 2016 at 2:02PM
Latest Version
There will come a time when you'll be happy and sad to let go of your old car. It is not just a car, it has a life of its own. All those family picnics, numerous trips, speeding tickets and other bitter sweet memories are now associated with that car.
Letting go may be hard, but all good things come to an end, plus you can purchase a new and better car. By selling your car, you have money to make buy to another car.
We have some tips to help you make the sale easier for you.
Condition of the car
Get your car checked by a trusted mechanic. A certificate from the mechanic will act as a proof of the condition, you claim your car is in. It will also help you know, the amount and kind of repairs and touch ups your car needs. These timely repairs will help maintain car's quality and will not lead to a breakdown at the time of a test drive.
Also, you won't have to lie about the condition of the vehicle.
Know the market
Demands of the people are ever changing.You don't have to be an analyst to know the market scenario. A simple glance at a local used car dealer's listings and classifieds, will tell you about present market demands. Talking to your friends and family will also help.
Pricing
Pricing has to be determined on the basis of market scenario and demand for the certain model. Quote too high a price, and the highballing will discourage a prospective buyer. Know what you expect from the car.
Getting help from a local car financer and consultant can help you come to a proper price.
How to advertise
Local forums and classifieds websites can be of a great use. Mention all details clearly and don't leave out any relevant details. Do not oversell the car, just mention the information. Perfectly mention your expectations. Make your ads catchy and tell all your friends.
Negotiations
Patience is of utmost importance while selling a car. A buyer may be interested in your car but could play hardball to get you to decrease the price. If you feel there will be no deal, don't panic. If the buyer is genuinely interested, he will be back.
Paperwork
Have all papers of your car in order. If you have a loan on the car, make sure you find the exact payoff amount. Have a bill of sale you received from the previous owner / dealer read. That is a proof of your ownership. It entitles you to transfer the ownership of the car to a buyer. Give the buyer a bill of sale signed by you and keep a copy for yourself.
Selling a car can be difficult and problematic. But if done right you can give your old ride a smooth farewell. Seeking advice from a professional can be considered to avoid being cheated.
The car sale will give you enough to make a down payment to buy a new car. With the help of Insta Auto Loan, you can easily take a loan so you don't fall short on buying your next dream car.
How much should I spend on the car?
Thursday 13 October 2016 at 10:36AM
Latest Version
Having your own car is comfortable and convenient. When you buy a car, you are stuck with it for a long time. It is expected to satisfy your utility. In sparsely populated neighbourhoods and areas, dependency on cars in higher.
People invest their hard earned money into these cars. But not all of them are educated about the pricing and tend to be hoodwinked by dealers. To avoid this, you must know how much to invest in a car. Taking into consideration the following factors will help you know how much you must spend on a car.
Financial status
Everyone has a different financial stature. It depends upon factors like, income, expenses, lifestyle, family, etc. All the calculations done while buying a car must be done after taking these factors into consideration.
Down Payments
It is possible for very few people to pay the whole amount at once when buying a car. You can avail a car financer's services. Preferably, down payments must not exceed 20% of the price of the car. This will help you reduce the loan amount. If you cannot tender an amount as big as 20% of the cost of car, it is a sign, the car is out of your budget.
Period of Payments
Ideally, a loan should not go on for more than 4 years. This is because a long drawn out loan can mess up your finances and credit rating. The period must depend upon monthly installments.
Monthly Payments
These payments must not be more than 36% of your gross monthly income. For example, if you earn around $20000 a year, you can afford to pay around $560 every month.
Maintenance and Hidden Costs
Buying a car will not put an end to cash outflow. Accessorizing, maintenance, insurance and repairs also must be considered. If buying a used car, there can be a higher chance of car repairs occurring.
Taxes
Buying a car has number of taxes associated with it. These taxes, if not factored in, can lead to an unwanted increase in buying costs.
Cost – Not Affordability
After considering all these factors, a buyer may find that he can easily afford the car. This is a good sign, but is the price of the car justified? If you are not sure about it you can get a professional opinion.
If you find that you can't afford to buy the car you want, you can easily take a loan from Insta Auto Loan.
Thursday 13 October 2016 at 10:36AM
Latest Version
Having your own car is comfortable and convenient. When you buy a car, you are stuck with it for a long time. It is expected to satisfy your utility. In sparsely populated neighbourhoods and areas, dependency on cars in higher.
People invest their hard earned money into these cars. But not all of them are educated about the pricing and tend to be hoodwinked by dealers. To avoid this, you must know how much to invest in a car. Taking into consideration the following factors will help you know how much you must spend on a car.
Financial status
Everyone has a different financial stature. It depends upon factors like, income, expenses, lifestyle, family, etc. All the calculations done while buying a car must be done after taking these factors into consideration.
Down Payments
It is possible for very few people to pay the whole amount at once when buying a car. You can avail a car financer's services. Preferably, down payments must not exceed 20% of the price of the car. This will help you reduce the loan amount. If you cannot tender an amount as big as 20% of the cost of car, it is a sign, the car is out of your budget.
Period of Payments
Ideally, a loan should not go on for more than 4 years. This is because a long drawn out loan can mess up your finances and credit rating. The period must depend upon monthly installments.
Monthly Payments
These payments must not be more than 36% of your gross monthly income. For example, if you earn around $20000 a year, you can afford to pay around $560 every month.
Maintenance and Hidden Costs
Buying a car will not put an end to cash outflow. Accessorizing, maintenance, insurance and repairs also must be considered. If buying a used car, there can be a higher chance of car repairs occurring.
Taxes
Buying a car has number of taxes associated with it. These taxes, if not factored in, can lead to an unwanted increase in buying costs.
Cost – Not Affordability
After considering all these factors, a buyer may find that he can easily afford the car. This is a good sign, but is the price of the car justified? If you are not sure about it you can get a professional opinion.
If you find that you can't afford to buy the car you want, you can easily take a loan from Insta Auto Loan.
7 Don'ts When Buying a Car
Thursday 17 November 2016 at 5:07AM
Latest Version
Buying a car, new or used, can be stressful and time-consuming. With a myriad of options and possibilities before you, it's very easy to make mistakes. But don't worry; instead, follow these don'ts for a smooth and problem-free car buying experience.
1. Don't skip on research
This is the first mistake you want to avoid. In this day and age, with the internet at our fingertips, it would be criminal not to get additional information on your dream car. Find out more about its features and pricing. Also do your homework on competitor vehicles.
2. Don't disregard your needs
With a host of choices available, you'll be tempted to disregard your needs and go for a car that might not suit you in the future. How often will you get to use that sports car for fast, exciting drives? Analyse your needs in order to get a car that meets all your needs.
3. Don't ignore the vehicle reports
You want to be sure that the car you intend to buy has never been in an accident or had the odometer tampered with. Check the vehicle's history report. If you're buying from a private seller, you can use AutoCheck.
Check the mechanic's inspection report as well. If the dealer refuses, you'll either have to walk away or get you own mechanic to inspect the car.
4. Don't ignore certified pre-owned (CPO) vehicles
CPO vehicles are inspected thoroughly for any deficiencies and restored to a good condition. They also come with extended warranties from the manufacturer. Certified pre-owned trucks and SUVs are great buys, especially if you don't have enough time to research and buy from a private seller.
5. Don't fall prey to feature creep
Feature creep is a phenomenon in which added features suddenly become necessary. This will happen when the car-buying process takes too long. Did you start with no particular preference for seats but are now convinced only plush leather will do? You are falling prey to feature creep. Make a list of all necessary features before entering any dealership, so that you don't get roped into paying for additional things you don't actually need.
6. Don't lease, buy
Leasing a car is a good idea, but you don't really own the car. More importantly, at the end of the leasing period, you would have gotten so used to the car, you'll probably buy it away. So buy the car, don't lease it.
7. Don't exceed the budget
Do your research and arrive at a budget you are comfortable with. Once there, don't budge. The dealer might try to talk you into buying a car that costs a lot more. The important thing is that you should be able to afford the car you are buying.
Don't make these mistakes and get the car of your dreams. If you have any money problems, check out Insta Auto Loans for an online car loan application. Even if you are a first time borrower or have bad credit, we will help you.
Thursday 17 November 2016 at 5:07AM
Latest Version
Buying a car, new or used, can be stressful and time-consuming. With a myriad of options and possibilities before you, it's very easy to make mistakes. But don't worry; instead, follow these don'ts for a smooth and problem-free car buying experience.
1. Don't skip on research
This is the first mistake you want to avoid. In this day and age, with the internet at our fingertips, it would be criminal not to get additional information on your dream car. Find out more about its features and pricing. Also do your homework on competitor vehicles.
2. Don't disregard your needs
With a host of choices available, you'll be tempted to disregard your needs and go for a car that might not suit you in the future. How often will you get to use that sports car for fast, exciting drives? Analyse your needs in order to get a car that meets all your needs.
3. Don't ignore the vehicle reports
You want to be sure that the car you intend to buy has never been in an accident or had the odometer tampered with. Check the vehicle's history report. If you're buying from a private seller, you can use AutoCheck.
Check the mechanic's inspection report as well. If the dealer refuses, you'll either have to walk away or get you own mechanic to inspect the car.
4. Don't ignore certified pre-owned (CPO) vehicles
CPO vehicles are inspected thoroughly for any deficiencies and restored to a good condition. They also come with extended warranties from the manufacturer. Certified pre-owned trucks and SUVs are great buys, especially if you don't have enough time to research and buy from a private seller.
5. Don't fall prey to feature creep
Feature creep is a phenomenon in which added features suddenly become necessary. This will happen when the car-buying process takes too long. Did you start with no particular preference for seats but are now convinced only plush leather will do? You are falling prey to feature creep. Make a list of all necessary features before entering any dealership, so that you don't get roped into paying for additional things you don't actually need.
6. Don't lease, buy
Leasing a car is a good idea, but you don't really own the car. More importantly, at the end of the leasing period, you would have gotten so used to the car, you'll probably buy it away. So buy the car, don't lease it.
7. Don't exceed the budget
Do your research and arrive at a budget you are comfortable with. Once there, don't budge. The dealer might try to talk you into buying a car that costs a lot more. The important thing is that you should be able to afford the car you are buying.
Don't make these mistakes and get the car of your dreams. If you have any money problems, check out Insta Auto Loans for an online car loan application. Even if you are a first time borrower or have bad credit, we will help you.
Cost or Value, New or Used Car?
Monday 12 December 2016 at 10:20AM
Latest Version
The hardest thing when buying a car is deciding whether you should go for a new or used model. A new model has all the latest technology and safety features. On the other hand, a used car is much cheaper than a new one.
How do you decide what to go for? A classic pros and cons list should help you figure it out.
Pros of Buying a New Car
Monday 12 December 2016 at 10:20AM
Latest Version
The hardest thing when buying a car is deciding whether you should go for a new or used model. A new model has all the latest technology and safety features. On the other hand, a used car is much cheaper than a new one.
How do you decide what to go for? A classic pros and cons list should help you figure it out.
Pros of Buying a New Car
- When buying a new car, you don't have to worry about how it was previously treated. It's fresh off the lot with no wear and tear. This is the greatest advantage of a new car.
- A new car will have a good record of reliability. It is covered by a 3 – 5 year warranty from the dealership. If anything goes wrong, repairs or recall won't be a problem.
- A new car is more fuel efficient than a used one, and releases less toxic gases into the atmosphere.
- It will also have the latest safety features such as front and lateral airbags, traction control, anti-lock brakes, child seat retainers, Electronic Stability Control and many more.
Cons of Buying a New Car
- A new car is more expensive than a used model. It's also harder to negotiate its price with the dealer.
- A new car loses about 45% of its value in the first 3 years. You buy a new car at retail price, but as soon as you drive it off the lot, its value is reduced to wholesale price. For example, the retail value of a new 2007 Ford Focus is $14,335. But if you tried to sell it back to the dealer, you would only get $11,995 back. You will have paid $2,340 just for taking the car off the lot for 5 minutes.
- Since the replacement value of a new car is higher, it has higher insurance rates. Monthly insurance expenses can add up quickly.
- A new car won't stay new for long. The excitement of having a new car will be gone long before the scratches and dents appear.
Pros of Buying a Used Car
- The best advantage of buying a used car is that you can afford the best your money can buy. A late-model used car will be less than half the price of a new one.
- A certified pre-owned (CPO) car comes with all the faulty parts repaired and a warranty as well. Often, the balance of the factory warranty is also added on.
- Most cars can go 100,000 miles without many difficulties. So a low-mileage late-model used car with 35,000 on the odometer can still give you 65,000 miles of problem-free driving.
Cons of Buying a Used Car
- Buying a used car means worrying about how it was treated by its previous owner. The car may turn out to have major faults and lead to a loss.
- A maintenance check is essential when buying a used car. A certified dealership will usually have their mechanic inspect the car. If not, then you will have to pay a mechanic to perform the maintenance check on your behalf.
- Also, a used car will require maintenance and repairs sooner than a new car. New tires, new breaks, radiator and transmission flushes will be needed.
If you're buying a used car, go for a from an authorized dealership.
Whatever you decide, don't let money get in the way of buying your dream car. Check out Insta Auto Loans. Our easy online car loan application process will get you approved in 24 hours.
Whatever you decide, don't let money get in the way of buying your dream car. Check out Insta Auto Loans. Our easy online car loan application process will get you approved in 24 hours.
6 car buying mistakes
Tuesday 17 January 2017 at 10:14AM
Latest Version
Admit it! You always wanted a car. You always fantasized about driving down to the office in your own car and observe everyone else go green with envy. You've sure think of hassle free travel. That first cup of coffee at home won't remain a distant dream.
But before you start day dreaming about driving in Yukon, you will have to buy a car. There are various hassles attached with it. Following are the rookie mistakes a car buyer can make while buying a car.
1. Not doing your homework
Make sure all the specifications of the car are as per advertised by the dealer. You are not an engineer, but you surely can understand the basics. Make a note of the type and make of car you want to buy.
If it is an old car, derive all the information you can from all possible sources. Get the information about previous owners, accidents, problems and maintenance history.
2. Not checking for options
There are hundreds of dealers and thousands of cars available in the market. Obtain a quote from all of them. Compare the prices, services, add-ons and after sales services provided by each one of them. It is better to have them compete for your business. This will get you the lowest price.
3. Impulse buy
You may think you have found your dream car. You will want to land your hands on that mean machine at this instant. Maybe your dealer says it is the last piece available. But this can turn the dream into a nightmare. An excited customer is a sitting duck.
4. Undervaluing your trade in
When trading in or upgrading, you can get a good discount on the new model. Make sure you get the old model valued from the right dealer. This will stop you from losing out on some benefits.
5. Overlooking hidden costs
Every car buyer has a specified and stipulated budget. When you buy a car, there are many costs which come along with it. Taxes to be paid, interest (if you are taking a loan on the car) and maintenance costs are some of them. These costs have to be taken into account to avoid messing up the budget.
6. Failure to pre shop for financing
Once the dealer's finance and insurance guy spots you, run from there. Failure to pre shop from a local and affordable car financer can land you in a soup. This guy will convince you to be finance by him and you will end up paying more than intended.
Buying a car is a big step in life, especially if it is a first car. Such big purchases cannot be made frequently. So the decision must be calculated and informed.
Tuesday 17 January 2017 at 10:14AM
Latest Version
Admit it! You always wanted a car. You always fantasized about driving down to the office in your own car and observe everyone else go green with envy. You've sure think of hassle free travel. That first cup of coffee at home won't remain a distant dream.
But before you start day dreaming about driving in Yukon, you will have to buy a car. There are various hassles attached with it. Following are the rookie mistakes a car buyer can make while buying a car.
1. Not doing your homework
Make sure all the specifications of the car are as per advertised by the dealer. You are not an engineer, but you surely can understand the basics. Make a note of the type and make of car you want to buy.
If it is an old car, derive all the information you can from all possible sources. Get the information about previous owners, accidents, problems and maintenance history.
2. Not checking for options
There are hundreds of dealers and thousands of cars available in the market. Obtain a quote from all of them. Compare the prices, services, add-ons and after sales services provided by each one of them. It is better to have them compete for your business. This will get you the lowest price.
3. Impulse buy
You may think you have found your dream car. You will want to land your hands on that mean machine at this instant. Maybe your dealer says it is the last piece available. But this can turn the dream into a nightmare. An excited customer is a sitting duck.
4. Undervaluing your trade in
When trading in or upgrading, you can get a good discount on the new model. Make sure you get the old model valued from the right dealer. This will stop you from losing out on some benefits.
5. Overlooking hidden costs
Every car buyer has a specified and stipulated budget. When you buy a car, there are many costs which come along with it. Taxes to be paid, interest (if you are taking a loan on the car) and maintenance costs are some of them. These costs have to be taken into account to avoid messing up the budget.
6. Failure to pre shop for financing
Once the dealer's finance and insurance guy spots you, run from there. Failure to pre shop from a local and affordable car financer can land you in a soup. This guy will convince you to be finance by him and you will end up paying more than intended.
Buying a car is a big step in life, especially if it is a first car. Such big purchases cannot be made frequently. So the decision must be calculated and informed.
Must have car accessories
Wednesday 15 Febuary 2017 at 11:29AM
Latest Version
Just bought a new vehicle using a car loan from Insta Auto Loan? Well, you need to pimp it up. You have a wide range of options to jazz up your car with accessories. They personalize your car, improve the safety features and better the entertainment system. Car accessories are great simply because they make your ride awesome!
So, what kind of accessories should you install?
Interior Enhancement
- Mats
Cleaning the flooring of your car can be a tedious process, so it's better to have mats to protect them.
- Sun Film
It can get quite sunny in Edmonton. A sun film can reduce the heat and light that pours into your car.
- Seat Covers
Seat covers are perfect for increasing the life of your seats. This extra protection prevents wear and tear.
- Neck Cushion
If you're going on a long car trip, then you definitely need a neck cushion. With a neck cushion you can really sit back, relax and enjoy a car ride. If you are suffering from neck pains, shoulder strains or whiplash injury, then you should have it added to your vehicle.
Security
- Car Alarm
A car alarm is a simple way to reduce the chances of someone actually robbing your car.
- Steering Grip Lock/Gear Lock
Thief got through your door lock? Steering and gear can still stop them.
Improving your car security also helps as you can ask for a better interest rate from your car insurance company.
Car Mobile Holder
A mobile is a device that no one can do without and today's smartphone can do much more than phone calls. A car mobile holder makes it easy to access your phone while you're on the road. Checking Google Maps, changing the track list and answering a call over the Bluetooth becomes much easier.
Safety
- Tool Kit
A tool kit can help you fix all kinds of problems in case your car has a break down.
- Fire Extinguisher
In case your engine catches fire due to overheating, you'll be glad you carried a fire extinguisher.
Car Hooks
Car hooks carry plenty of functional value. You can hang clothes and bags with no trouble. If your car is filled to the maximum capacity with people, hooks really show that they help with efficient space utilization.
Parking Sensor
If you're still getting the hang of driving and this is your first car, you should have a parking sensor installed. It will reduce your chances of backing up into a car and give you the confidence to be a better driver.
Child Seat
A child seat is pretty obvious and necessary if you have children.
Car accessories add to the overall usefulness and feel of your car. And, some of the accessories are also an absolute must. Accessories add to the personality of your car and provide you better safety and comfort.
Wednesday 15 Febuary 2017 at 11:29AM
Latest Version
Just bought a new vehicle using a car loan from Insta Auto Loan? Well, you need to pimp it up. You have a wide range of options to jazz up your car with accessories. They personalize your car, improve the safety features and better the entertainment system. Car accessories are great simply because they make your ride awesome!
So, what kind of accessories should you install?
Interior Enhancement
- Mats
Cleaning the flooring of your car can be a tedious process, so it's better to have mats to protect them.
- Sun Film
It can get quite sunny in Edmonton. A sun film can reduce the heat and light that pours into your car.
- Seat Covers
Seat covers are perfect for increasing the life of your seats. This extra protection prevents wear and tear.
- Neck Cushion
If you're going on a long car trip, then you definitely need a neck cushion. With a neck cushion you can really sit back, relax and enjoy a car ride. If you are suffering from neck pains, shoulder strains or whiplash injury, then you should have it added to your vehicle.
Security
- Car Alarm
A car alarm is a simple way to reduce the chances of someone actually robbing your car.
- Steering Grip Lock/Gear Lock
Thief got through your door lock? Steering and gear can still stop them.
Improving your car security also helps as you can ask for a better interest rate from your car insurance company.
Car Mobile Holder
A mobile is a device that no one can do without and today's smartphone can do much more than phone calls. A car mobile holder makes it easy to access your phone while you're on the road. Checking Google Maps, changing the track list and answering a call over the Bluetooth becomes much easier.
Safety
- Tool Kit
A tool kit can help you fix all kinds of problems in case your car has a break down.
- Fire Extinguisher
In case your engine catches fire due to overheating, you'll be glad you carried a fire extinguisher.
Car Hooks
Car hooks carry plenty of functional value. You can hang clothes and bags with no trouble. If your car is filled to the maximum capacity with people, hooks really show that they help with efficient space utilization.
Parking Sensor
If you're still getting the hang of driving and this is your first car, you should have a parking sensor installed. It will reduce your chances of backing up into a car and give you the confidence to be a better driver.
Child Seat
A child seat is pretty obvious and necessary if you have children.
Car accessories add to the overall usefulness and feel of your car. And, some of the accessories are also an absolute must. Accessories add to the personality of your car and provide you better safety and comfort.
5 simple ways to get out of debt
Thursday 16 March 2017 at 10:49AM
Latest Version
At this age, almost every Canadian is carrying debt right from their days of college. No one wants bad debt and a bad credit situation. The last thing you want is your debt to ride through the rest of your life, especially right up to your retirement age. That's the time when you're supposed to take it easy.
Here are 5 ways you can get out of debt.
1. Never Miss a Debt Payment
The first step is to ensure that you never miss a debt payment. You probably have to pay your debt on a monthly basis. Mark the dates on your calendar and always ensure that you have enough money to make the debt payments.
2. Alter your Lifestyle
One of the top reasons why you're finding it difficult to make the payments is because of your lifestyle. Chances are that you are not able to collect enough money to make the payment. A budget will make many changes in your lifestyle, especially when it comes to spending habits. Most of us don't realize it, but we have unnecessary spending habits - frequently buying candy, excess usage of petrol or going to the spa too many times. Identify unnecessary spending habits and cut down on them using a strict budget.
3. Make Extra Cash
If having sufficient funds to pay all your debts is the problem, then there is nothing you can do but make extra cash.
- Second Job: There are many opportunities for you to get a second job in the retail and hospitality sector. However, second jobs are not very flexible and can often be very stressful.
- Freelance: Freelance is more recommended because it grants you flexibility and you can work from home.
Improve your Credit Score
Try to improve your credit score. The better your credit score, the lesser interest rate you can get from your creditors. The lesser interest rate you have, the lesser amount you will have to pay.
Take a Car Loan
If you are thinking of purchasing a car through a car loan, then you shouldn't let your current debt situation stop you. A car can be really helpful in assisting you to get back on your feet, improve your professional presentation, and help the kids get around (if you have a family).
If you have a bad credit score, getting a loan can be difficult. However, Insta Auto Loan offers car loans to individuals who don't have good credit, are first time borrowers, or are even bankrupt. Taking a car loan can help improve your bad credit situation in several ways. The debt is a smaller and manageable amount, and through regular payment, you improve your credit history.
Debt is nothing to be afraid of or worry. Like the rest of life, it too shall pass – just focus on paying it.
Thursday 16 March 2017 at 10:49AM
Latest Version
At this age, almost every Canadian is carrying debt right from their days of college. No one wants bad debt and a bad credit situation. The last thing you want is your debt to ride through the rest of your life, especially right up to your retirement age. That's the time when you're supposed to take it easy.
Here are 5 ways you can get out of debt.
1. Never Miss a Debt Payment
The first step is to ensure that you never miss a debt payment. You probably have to pay your debt on a monthly basis. Mark the dates on your calendar and always ensure that you have enough money to make the debt payments.
2. Alter your Lifestyle
One of the top reasons why you're finding it difficult to make the payments is because of your lifestyle. Chances are that you are not able to collect enough money to make the payment. A budget will make many changes in your lifestyle, especially when it comes to spending habits. Most of us don't realize it, but we have unnecessary spending habits - frequently buying candy, excess usage of petrol or going to the spa too many times. Identify unnecessary spending habits and cut down on them using a strict budget.
3. Make Extra Cash
If having sufficient funds to pay all your debts is the problem, then there is nothing you can do but make extra cash.
- Second Job: There are many opportunities for you to get a second job in the retail and hospitality sector. However, second jobs are not very flexible and can often be very stressful.
- Freelance: Freelance is more recommended because it grants you flexibility and you can work from home.
Improve your Credit Score
Try to improve your credit score. The better your credit score, the lesser interest rate you can get from your creditors. The lesser interest rate you have, the lesser amount you will have to pay.
Take a Car Loan
If you are thinking of purchasing a car through a car loan, then you shouldn't let your current debt situation stop you. A car can be really helpful in assisting you to get back on your feet, improve your professional presentation, and help the kids get around (if you have a family).
If you have a bad credit score, getting a loan can be difficult. However, Insta Auto Loan offers car loans to individuals who don't have good credit, are first time borrowers, or are even bankrupt. Taking a car loan can help improve your bad credit situation in several ways. The debt is a smaller and manageable amount, and through regular payment, you improve your credit history.
Debt is nothing to be afraid of or worry. Like the rest of life, it too shall pass – just focus on paying it.
Should you buy a new or used car?
Friday 21 April 2017 at 10:56AM
Latest Version
If you're planning on getting a new set of wheels, you have two options – a new or a used car. Both choices have advantages and disadvantages and there is no single right choice. A lot of it boils down to how much you can afford and what kind of car you want to get.
Alberta has a booming market for the purchase of new and used cars. That means, you can virtually get your hands on all kinds of car models. So, not to worry, you'll find the one that you've marked in your 'Dream Car' list.
Why a New Car?
- Well, it's new and just off the manufacturing ramp. No one has driven it and all the parts are new. The interiors carry a whiff of that 'new car smell' (fresh leather, plastic and paint!). Simply put -a new car has no wears and tears, and that's the biggest advantage.
- Also, a new car has the latest features. They are equipped with the latest features in technology and safety. A used car may not offer Bluetooth support with its onboard devices.
- A new car is more efficient than a used car of the same model. Since all its parts are new, they run quite efficiently and consume less fuel.
- Warranty is a given when you purchase a new car. However, for a used car, you will most probably have to buy a warranty.
Why a Used Car?
- The biggest selling factor to go for a used car is the price. The price of a used car is always cheaper than a new one.
- You have an advantage of depreciating value. The moment a new car is purchased, its monetary value is depreciating by 20% every year. A used car does not have to face this, so if you were to sell it, you will recover a significant amount of what you spent to purchase the car.
- Certified used cars are a much better option as these cars are fixed up to the best of their capacity, and certified by the manufacturer.
Which one?
If your budget is $10,000, you can purchase the cheapest car in the Canadian market – Nissan Micra. Or, if you go in for a used car with same budget, you can afford a Hyundai Elantra, Ford Focus, Honda Civic, Mazda3 and a range of other options.
What's your budget and what car do you want? $10,000 will hardly open you up to the best new cars in the market. If you're fine with that and buying a new car is more important, then go for it. However, if you want a wider range of options with better cars, then definitely a used car is what you want.
Whether you decide on a new or used car, don't let money problems stop you from getting the car. Insta Auto Loans offers a simple and easy loan application process that is completely online. Once you apply, you'll get the loan the next day. It accepts applications of individuals even if they have bad credit or are first time borrowers
Friday 21 April 2017 at 10:56AM
Latest Version
If you're planning on getting a new set of wheels, you have two options – a new or a used car. Both choices have advantages and disadvantages and there is no single right choice. A lot of it boils down to how much you can afford and what kind of car you want to get.
Alberta has a booming market for the purchase of new and used cars. That means, you can virtually get your hands on all kinds of car models. So, not to worry, you'll find the one that you've marked in your 'Dream Car' list.
Why a New Car?
- Well, it's new and just off the manufacturing ramp. No one has driven it and all the parts are new. The interiors carry a whiff of that 'new car smell' (fresh leather, plastic and paint!). Simply put -a new car has no wears and tears, and that's the biggest advantage.
- Also, a new car has the latest features. They are equipped with the latest features in technology and safety. A used car may not offer Bluetooth support with its onboard devices.
- A new car is more efficient than a used car of the same model. Since all its parts are new, they run quite efficiently and consume less fuel.
- Warranty is a given when you purchase a new car. However, for a used car, you will most probably have to buy a warranty.
Why a Used Car?
- The biggest selling factor to go for a used car is the price. The price of a used car is always cheaper than a new one.
- You have an advantage of depreciating value. The moment a new car is purchased, its monetary value is depreciating by 20% every year. A used car does not have to face this, so if you were to sell it, you will recover a significant amount of what you spent to purchase the car.
- Certified used cars are a much better option as these cars are fixed up to the best of their capacity, and certified by the manufacturer.
Which one?
If your budget is $10,000, you can purchase the cheapest car in the Canadian market – Nissan Micra. Or, if you go in for a used car with same budget, you can afford a Hyundai Elantra, Ford Focus, Honda Civic, Mazda3 and a range of other options.
What's your budget and what car do you want? $10,000 will hardly open you up to the best new cars in the market. If you're fine with that and buying a new car is more important, then go for it. However, if you want a wider range of options with better cars, then definitely a used car is what you want.
Whether you decide on a new or used car, don't let money problems stop you from getting the car. Insta Auto Loans offers a simple and easy loan application process that is completely online. Once you apply, you'll get the loan the next day. It accepts applications of individuals even if they have bad credit or are first time borrowers
What should you do in a car accident?
Monday 22 May 2017 at 10:34AM
Latest Version
All car accidents don't involve considerable number of flips, a dive off the cliff, and a huge flaming explosion. That's Hollywood selling you lies. An accident can happen to anyone on the road, and it usually involves paint scratches, broken glass, dents and a collision. It could happen because the driver missed seeing a car on his blind spot, and BAAM! Next thing you know, you're in an accident on the streets of Edmonton.
So what should you do if you are in a car accident?
Stop
If you're the culprit who caused the accident, your mind will be screaming that you get out of there now. That's your flight or fight response kicking in. Ignore it. You need to deal with situation. Plus, once the other driver submits a complaint to the police, they will find you. The driver or a traffic camera would have your license plate number, more than enough to track you down.
Stay Calm
Accidents can come in all types and often, it may seems like – "That was a close call!"
This leads to emotions running high from both sides. It's vital that you stay calm when you get out of the car. Even if the other driver is furious, stay cool and handle the situation with a calm mind. In the process, do your best to calm the other driver.
Check that Everyone is Safe
Ensure that everyone in your vehicle is safe. Check for sprains, broken bones or a bleeding nose. Next, ensure that no one is injured in the other car too.
Depending on the situation, you can take the injured person to the hospital yourself or call the ambulance service. You may also have to call the Fire Emergency service depending on the damage done to the car.
Exchange Information
Both of the drivers need to exchange information like insurance number, contact details, license number and license plate number.
Record What Happened
Write down what happened, in detail, while your memory is still fresh. This is information that will come in handy in dealing with the police and insurance company.
Contact the Police
If the damage is severe and someone is injured, the police needs to be contacted. You will have to fill up a Collision Report Form.
Call the Insurance Company
At this point, you'll be glad you invested in a good insurance. Give your insurance company a call, explain to them what happened and wait for their instructions.
Other Things to Keep in Mind
- Pick a tow company that you can trust and offers the best price. Don't get pressured into going for the first one that arrives at the scene.
- Wait for a few days before you get the car repaired. An insurance agent may want to take a look at the damage.
- If the other driver is the one to blame, he may offer you cash to resolve the situation. Decline it simply because you never know how much the repair costs, and what he is offering may not be sufficient.
And, if your car does end up exploding in a car accident, then the good news is that you can get another car. With financial help from Insta Auto Loan, you can take your pick of the best cars in the market.
Monday 22 May 2017 at 10:34AM
Latest Version
All car accidents don't involve considerable number of flips, a dive off the cliff, and a huge flaming explosion. That's Hollywood selling you lies. An accident can happen to anyone on the road, and it usually involves paint scratches, broken glass, dents and a collision. It could happen because the driver missed seeing a car on his blind spot, and BAAM! Next thing you know, you're in an accident on the streets of Edmonton.
So what should you do if you are in a car accident?
Stop
If you're the culprit who caused the accident, your mind will be screaming that you get out of there now. That's your flight or fight response kicking in. Ignore it. You need to deal with situation. Plus, once the other driver submits a complaint to the police, they will find you. The driver or a traffic camera would have your license plate number, more than enough to track you down.
Stay Calm
Accidents can come in all types and often, it may seems like – "That was a close call!"
This leads to emotions running high from both sides. It's vital that you stay calm when you get out of the car. Even if the other driver is furious, stay cool and handle the situation with a calm mind. In the process, do your best to calm the other driver.
Check that Everyone is Safe
Ensure that everyone in your vehicle is safe. Check for sprains, broken bones or a bleeding nose. Next, ensure that no one is injured in the other car too.
Depending on the situation, you can take the injured person to the hospital yourself or call the ambulance service. You may also have to call the Fire Emergency service depending on the damage done to the car.
Exchange Information
Both of the drivers need to exchange information like insurance number, contact details, license number and license plate number.
Record What Happened
Write down what happened, in detail, while your memory is still fresh. This is information that will come in handy in dealing with the police and insurance company.
Contact the Police
If the damage is severe and someone is injured, the police needs to be contacted. You will have to fill up a Collision Report Form.
Call the Insurance Company
At this point, you'll be glad you invested in a good insurance. Give your insurance company a call, explain to them what happened and wait for their instructions.
Other Things to Keep in Mind
- Pick a tow company that you can trust and offers the best price. Don't get pressured into going for the first one that arrives at the scene.
- Wait for a few days before you get the car repaired. An insurance agent may want to take a look at the damage.
- If the other driver is the one to blame, he may offer you cash to resolve the situation. Decline it simply because you never know how much the repair costs, and what he is offering may not be sufficient.
And, if your car does end up exploding in a car accident, then the good news is that you can get another car. With financial help from Insta Auto Loan, you can take your pick of the best cars in the market.
Misconception about people with bad credit
Tuesday 20 June 2017 at 11:03AM
Latest Version
The credit world has tanked itself up with jargons and plenty of concepts that make it difficult for an outsider to grasp. This is why many of the customers who approach Insta Auto Loan have many misconceptions.
On that line, we've decided to compile a post on dispelling some of these misconceptions when it comes to the credit world. This information will just help you make a better decision in taking loans.
No one else has bad credit
If you have bad credit, it's important to point out that you are not the only one in Canada who has it. For any person to not carry debt – it's next to impossible. Canadians carry debt right from the time they take an educational loan. Even after graduating, most students find it difficult to pay off their debts and it usually carries on for years. The average Canadian household carries $20,759 excluding of mortgage debt.
There is a huge population that has debt and bad credit in Canada.
Bad Credit= To Financially Irresponsible
The assumption, of many, is that those who have bad credit are financially irresponsible. This is absolutely not true. It discounts for the personal, health and family problems a person may face. You may be going through a tough divorce procedure that drains you mentally, or may be facing a difficult medical problem that requires money.
Unfortunately, credit score does not take such problems into considerations. This does not means a person with a bad credit score is financial irresponsible.
You can't improve your Credit
There is always the danger that once you're locked in a debt sink hole, you won't get out. This is not true. With a bit of effort and financial planning, you can pull yourself out of debt and improve your credit score.
- The most important bit is to make your monthly debt payments without fail.
- To do this, you will need to make a budget. A budget allows you to allocate sufficient funds to each of your expenses, including debt.
Never think that you are stuck with debt and bad credit. Motive yourself enough to improve your situation.
You can't get an auto loan with bad credit
Bad credit score makes it difficult to get an auto loan, but it's not impossible. It all depends on who you approach to get an auto loan. Most financial institutions will deny you an auto loan because you have bad credit. However, Insta Auto Loan grants loans to those who have bad credit, are first time borrowers or even are bankrupt.
Bad credit does not mean you won't get an auto loan. If you've been getting rejected, then you have just been approaching the wrong lender agencies.
There are misconceptions in every walk of life. Don't let misconception in the credit world hold you back. If you need a car loan, then just get it from Insta Auto Loan. It's the easiest and simplest route.
Tuesday 20 June 2017 at 11:03AM
Latest Version
The credit world has tanked itself up with jargons and plenty of concepts that make it difficult for an outsider to grasp. This is why many of the customers who approach Insta Auto Loan have many misconceptions.
On that line, we've decided to compile a post on dispelling some of these misconceptions when it comes to the credit world. This information will just help you make a better decision in taking loans.
No one else has bad credit
If you have bad credit, it's important to point out that you are not the only one in Canada who has it. For any person to not carry debt – it's next to impossible. Canadians carry debt right from the time they take an educational loan. Even after graduating, most students find it difficult to pay off their debts and it usually carries on for years. The average Canadian household carries $20,759 excluding of mortgage debt.
There is a huge population that has debt and bad credit in Canada.
Bad Credit= To Financially Irresponsible
The assumption, of many, is that those who have bad credit are financially irresponsible. This is absolutely not true. It discounts for the personal, health and family problems a person may face. You may be going through a tough divorce procedure that drains you mentally, or may be facing a difficult medical problem that requires money.
Unfortunately, credit score does not take such problems into considerations. This does not means a person with a bad credit score is financial irresponsible.
You can't improve your Credit
There is always the danger that once you're locked in a debt sink hole, you won't get out. This is not true. With a bit of effort and financial planning, you can pull yourself out of debt and improve your credit score.
- The most important bit is to make your monthly debt payments without fail.
- To do this, you will need to make a budget. A budget allows you to allocate sufficient funds to each of your expenses, including debt.
Never think that you are stuck with debt and bad credit. Motive yourself enough to improve your situation.
You can't get an auto loan with bad credit
Bad credit score makes it difficult to get an auto loan, but it's not impossible. It all depends on who you approach to get an auto loan. Most financial institutions will deny you an auto loan because you have bad credit. However, Insta Auto Loan grants loans to those who have bad credit, are first time borrowers or even are bankrupt.
Bad credit does not mean you won't get an auto loan. If you've been getting rejected, then you have just been approaching the wrong lender agencies.
There are misconceptions in every walk of life. Don't let misconception in the credit world hold you back. If you need a car loan, then just get it from Insta Auto Loan. It's the easiest and simplest route.
Do you really need to improve your credit score
Friday 14 July 2017 at 10:26AM
Latest Version
Credit score may sound like something you never want to bother with, but the fact is that credit score plays a big role in your financial security. It is easy and convenient to ignore debts and let your credit score go on a downward spiral. However, it will affect your life in many negative ways.
Here's why you should bother about your credit score and improve it.
You won't get Loans
Most financial institutions expect their loan applicants to have a certain credit score without which their loan application will be rejected. Tomorrow if you wanted a home loan, a car loan or a student loan, you won't be able to get it because of your poor credit score. This can be a really big problem if you are in need of extra finance.
No Loan for your Children
Getting a loan or credit card for a person with no credit history is difficult. The best way to do it is through a joint loan or credit account. Your children won't have credit history since they have never taken a loan or credit card. However, if you're credit score is bad, you can't vouch or create a joint credit account with them.
No Access Best Loan and Rates
The lower the interest rate, the better the loan. However, you won't get access to the best loan options with a low credit score. Add to that, the best loans don't just provide good interest rates, but offer many perks too.
Employment in Questions
You can even compromise your job with a poor credit score. A credit score tells an employer how financially responsible you are. A low credit score says that you aren't good at managing your credit and financial well.
Limited Refinancing Options
One of the best ways to deal with a burdening and unmanageable debt is to refinance it. However, you can't do so if your credit score is low. A lender agency might defer from granting you the refinancing options because your poor credit score is an indication that you won't keep up to regular payments of the debt.
No one is saying that improving a credit score is easy, however, the advantages you gain makes it worth it. One way to improve your credit score is to take another loan. Insta Auto Loan provides a wide range of loan options to those who have poor credit scores. By regularly making the monthly payment, you can build credit history and improve your credit score.
Friday 14 July 2017 at 10:26AM
Latest Version
Credit score may sound like something you never want to bother with, but the fact is that credit score plays a big role in your financial security. It is easy and convenient to ignore debts and let your credit score go on a downward spiral. However, it will affect your life in many negative ways.
Here's why you should bother about your credit score and improve it.
You won't get Loans
Most financial institutions expect their loan applicants to have a certain credit score without which their loan application will be rejected. Tomorrow if you wanted a home loan, a car loan or a student loan, you won't be able to get it because of your poor credit score. This can be a really big problem if you are in need of extra finance.
No Loan for your Children
Getting a loan or credit card for a person with no credit history is difficult. The best way to do it is through a joint loan or credit account. Your children won't have credit history since they have never taken a loan or credit card. However, if you're credit score is bad, you can't vouch or create a joint credit account with them.
No Access Best Loan and Rates
The lower the interest rate, the better the loan. However, you won't get access to the best loan options with a low credit score. Add to that, the best loans don't just provide good interest rates, but offer many perks too.
Employment in Questions
You can even compromise your job with a poor credit score. A credit score tells an employer how financially responsible you are. A low credit score says that you aren't good at managing your credit and financial well.
Limited Refinancing Options
One of the best ways to deal with a burdening and unmanageable debt is to refinance it. However, you can't do so if your credit score is low. A lender agency might defer from granting you the refinancing options because your poor credit score is an indication that you won't keep up to regular payments of the debt.
No one is saying that improving a credit score is easy, however, the advantages you gain makes it worth it. One way to improve your credit score is to take another loan. Insta Auto Loan provides a wide range of loan options to those who have poor credit scores. By regularly making the monthly payment, you can build credit history and improve your credit score.
Bankrupt and need a car loan?
Friday 18 August 2017 at 1:16PM
Latest Version
Whether you run your own business or are just trying to manage a household, bankruptcy can come to anyone. Filing for bankruptcy is equivalent to having a black mark on your financial record. It will make life difficult for you. Your credit score will be at an all-time low and your financial situation would be at its worst. It goes without saying, but being bankrupt is not pretty, however, it is far from the end of the world.
The good news is that you can recover from bankruptcy and get back on your feet. What you really need is a car loan. So how does a car loan fit in when you're bankrupt?
You need a Car
When you file for bankruptcy, a lot of your assets are sold off to recover the debt, including any vehicles you have. However, if you hope to get back on your feet, you need some wheels. Transportation is vital to ensure that you reach on time for meetings and are able to perform well at your job. If you have a family, then a car is must to ensure that you can take the kids to school and go for family outings.
Improve your Credit Score
The problem with a bad credit score is that you won't be able to avail of the best financial deals. Many financial institutions have certain requirements before customers are approved credit cards, home loans and other financial offers. One of the requirements is that you should have a good or high credit score.
Additionally, most employment always check a person's credit score before hiring. Having a low credit score can put your career in jeopardy. Low credit score suggests that you have financial troubles, and puts a cloud over your head.
Rebuild your Credit History
By rebuilding your credit history, you can improve your credit score. Taking a car loan gives you the opportunity to rebuild your credit history. This is done by ensuring that you make the monthly payments without fail and on time. The more regular your monthly payments are, the better your credit history, and the better is your credit score.
Take it from Insta Auto Loan
Taking any loan, including car loan, when you're bankrupt is difficult. However, at Insta Auto Loan, we grant loans whether you have a bad credit score or are bankrupt. Better yet, the process is completely online so that you can apply for a loan easily and quickly. Your loan application would be approved by the next day.
Bankruptcy is just another phase in your life. Don't let it bog you down.
Friday 18 August 2017 at 1:16PM
Latest Version
Whether you run your own business or are just trying to manage a household, bankruptcy can come to anyone. Filing for bankruptcy is equivalent to having a black mark on your financial record. It will make life difficult for you. Your credit score will be at an all-time low and your financial situation would be at its worst. It goes without saying, but being bankrupt is not pretty, however, it is far from the end of the world.
The good news is that you can recover from bankruptcy and get back on your feet. What you really need is a car loan. So how does a car loan fit in when you're bankrupt?
You need a Car
When you file for bankruptcy, a lot of your assets are sold off to recover the debt, including any vehicles you have. However, if you hope to get back on your feet, you need some wheels. Transportation is vital to ensure that you reach on time for meetings and are able to perform well at your job. If you have a family, then a car is must to ensure that you can take the kids to school and go for family outings.
Improve your Credit Score
The problem with a bad credit score is that you won't be able to avail of the best financial deals. Many financial institutions have certain requirements before customers are approved credit cards, home loans and other financial offers. One of the requirements is that you should have a good or high credit score.
Additionally, most employment always check a person's credit score before hiring. Having a low credit score can put your career in jeopardy. Low credit score suggests that you have financial troubles, and puts a cloud over your head.
Rebuild your Credit History
By rebuilding your credit history, you can improve your credit score. Taking a car loan gives you the opportunity to rebuild your credit history. This is done by ensuring that you make the monthly payments without fail and on time. The more regular your monthly payments are, the better your credit history, and the better is your credit score.
Take it from Insta Auto Loan
Taking any loan, including car loan, when you're bankrupt is difficult. However, at Insta Auto Loan, we grant loans whether you have a bad credit score or are bankrupt. Better yet, the process is completely online so that you can apply for a loan easily and quickly. Your loan application would be approved by the next day.
Bankruptcy is just another phase in your life. Don't let it bog you down.
Repair your credit with a bad credit auto loan
Friday 22 September 2017 at 12:30PM
Latest Version
Ever thought of repairing your bad credit by taking an auto loan? It seems like the most unlikely of solutions, but an auto loan can be the perfect opportunity to turn around your bad credit run.
Having a bad credit score has many disadvantages and you won't be able fully access all the options in the financial world. That can be bad when you want to take a home or student loan and get the best interest rate with it.
Get a car
If you don't have a car, you can get one with an auto loan. A car is a must in today's life. It will help you with your job, allowing you to reach your business meetings on time. You can move around the city conveniently without worrying about what time will the bus or train arrive, and will it be crowded? Within the confines of your car, you'll have all the comfort you need.
Add to that, if you've got a family, you can drop the kids to school, and even go on family trips.
All in all, a car is a necessity that you should have.
Get back a Good Credit History
Credit history is just an account of your recent debt payments. Did you miss the payment? Did you pay it on time? And, did you make the correct minimum amount? That's what credit history contains.
By taking a new loan, you give yourself the opportunity to get a good credit history. Ensure that you make regular payments without fail and always on time. A good credit history will push up your credit score.
Insta Auto Loans
The advantage of Insta Auto Loans is three-fold.
A) Easy Process
The whole process is online. You don't have to deal with any intermediary who you have to convince. You simply submit in the details online and apply for a car loan.
B) Quick Reply
Within 24 hours, your loan application will get accepted.
C) Everyone is accepted
It does not matter if you have bad credit, are bankrupt, or are a first time borrower. All auto loan applications are accepted by Insta Auto Loan.
Bottomline is that if you need a car loan, but are unable to get it because of your poor credit score, no fear – Insta Auto Loan will grant it to you.
Friday 22 September 2017 at 12:30PM
Latest Version
Ever thought of repairing your bad credit by taking an auto loan? It seems like the most unlikely of solutions, but an auto loan can be the perfect opportunity to turn around your bad credit run.
Having a bad credit score has many disadvantages and you won't be able fully access all the options in the financial world. That can be bad when you want to take a home or student loan and get the best interest rate with it.
Get a car
If you don't have a car, you can get one with an auto loan. A car is a must in today's life. It will help you with your job, allowing you to reach your business meetings on time. You can move around the city conveniently without worrying about what time will the bus or train arrive, and will it be crowded? Within the confines of your car, you'll have all the comfort you need.
Add to that, if you've got a family, you can drop the kids to school, and even go on family trips.
All in all, a car is a necessity that you should have.
Get back a Good Credit History
Credit history is just an account of your recent debt payments. Did you miss the payment? Did you pay it on time? And, did you make the correct minimum amount? That's what credit history contains.
By taking a new loan, you give yourself the opportunity to get a good credit history. Ensure that you make regular payments without fail and always on time. A good credit history will push up your credit score.
Insta Auto Loans
The advantage of Insta Auto Loans is three-fold.
A) Easy Process
The whole process is online. You don't have to deal with any intermediary who you have to convince. You simply submit in the details online and apply for a car loan.
B) Quick Reply
Within 24 hours, your loan application will get accepted.
C) Everyone is accepted
It does not matter if you have bad credit, are bankrupt, or are a first time borrower. All auto loan applications are accepted by Insta Auto Loan.
Bottomline is that if you need a car loan, but are unable to get it because of your poor credit score, no fear – Insta Auto Loan will grant it to you.
6 ways to get the best price on a car
Wednesday 25 October 2017 at 10:48AM
Latest Version
Decided to buy a new car, but find it difficult to get one at the right price? The good news is that all prices are negotiable including your dream car.
Here are some tips to help you negotiate and get the right price whether you're buying a new car, or a used car.
1. Know what Price the Car is Worth
The price of a car does not work according to the money in have in the bank account. The price of a car is largely dependent on the market and what people are willing to pay for it. Edmunds and TrueCar are two good places you can start with to find out the market price of cars. Kelly Blue Book is a good place to find out the price of used cars.
This will give you a basic idea of what price you need to aim for in your negotiations.
2. Don't Negotiate
Most articles will tell you to negotiate. The reality is much more different. You don't walk into a store and start bartering prices for a vehicle that you want to buy. Most reputable stores have sticker prices. These prices can be negotiated, but it is not a flea market.
If the salesperson hits the price target, sign for the car immediately. If they don't, let the salesperson know the price you want, give your contact number and leave. If the price you proposed is reasonable, then you can be sure that the salesperson will call you back.
3. Follow up on Saturday or Sunday Late Evening
If you don't get a call, it's time for you to call up the dealership and get in touch with the salesperson. Introduce yourself and remind the salesperson when you had come and what vehicle you wanted. Remind him of the price you want the vehicle for and politely ask the salesperson if he can reach that figure.
The idea of calling up on Saturday or Sunday night is that most dealerships have sales targets and you can tap into this pressure by calling on Saturday or Sunday night when the dealership is about to close.
4. Follow up at the End of the Month
A deal that didn't make sense on 22nd of the month, may make sense to a salesperson on the 31st. Once again, end of the month sales targets can change the perspective of a salesperson.
5. Follow up During Bad Whether
Edmonton has plenty of bad weather. From November to February, the city sees a flurry of snowstorms. Bad weather is a tough time for car dealerships to keep up the sales. The pressure to make a sale is highest at this time and is best to follow up now.
6. Try it with Other Dealers
There is no guarantee that the dealership will give you the price you want. Hence, you have to try this with several dealerships.
If you find that you are short on cash, you can easily take a loan from Insta Auto Loan. The process is completely online and easy. Anyone, who applies, can get accepted. It doesn't matter if you have a bad credit score.
Do you really want a bad credit auto loan?
Friday 10 November 2017 at 12:01PM
Latest Version
So you've decided that you want to take a car loan? The bad news is that if you have a bad credit score, then getting a car loan can be difficult from the usual financial institutions. A bad credit score tells financial institutions that you are not a responsible borrower and they won't accept your car loan application.
In such a case, your only option would be to go for a bad credit loan. The unfortunate thing is that bad credit loans have gotten such a bad reputation that many hesitate to take them. The fact is that bad credit loans aren't really 'bad'.
If you need them, take them.
You get a Car
The main purpose of a car loan is that you get some wheels. If you're working or running a business, a car is vital to getting around and ensuring that you get to your meeting on time. You don't have to wait for the bus or the trains.
Also, if you have kids then a car is a must. It's a convenient way for the whole family to get around together. You can drop them to school and go on fun outings.
Repair your Credit
Having a bad credit score will shut a lot of financial opportunities for you. The best credit card options with the best perks won't be open to you because you don't have a good credit score.
Taking a car loan, allows you to repair your credit score. By regularly making the monthly payments, you will build a good credit history that will, in turn, improve your credit score.
Get over the Stigma
There's quite a lot of stigma on bad credit loans that give it a bad reputation. There are claims about high interest rates and even collection agents who cross the line. It's a few that give a bad name to the rest. A few bad credit lenders take advantage of the credit situation customers. What you need do is ensure that you pick a lender that has repute and is trustworthy.
Insta Auto Loan
Insta Auto Loan is the best pick for you. The whole process is online, making it extremely simple. Once you submit your details and put in your application, you'll get a reply the next day. Interest rates and the loan period can be negotiated according to your financial needs.
All in all, if you need an auto loan, then you shouldn't think twice about taking a bad credit auto loan.
Friday 10 November 2017 at 12:01PM
Latest Version
So you've decided that you want to take a car loan? The bad news is that if you have a bad credit score, then getting a car loan can be difficult from the usual financial institutions. A bad credit score tells financial institutions that you are not a responsible borrower and they won't accept your car loan application.
In such a case, your only option would be to go for a bad credit loan. The unfortunate thing is that bad credit loans have gotten such a bad reputation that many hesitate to take them. The fact is that bad credit loans aren't really 'bad'.
If you need them, take them.
You get a Car
The main purpose of a car loan is that you get some wheels. If you're working or running a business, a car is vital to getting around and ensuring that you get to your meeting on time. You don't have to wait for the bus or the trains.
Also, if you have kids then a car is a must. It's a convenient way for the whole family to get around together. You can drop them to school and go on fun outings.
Repair your Credit
Having a bad credit score will shut a lot of financial opportunities for you. The best credit card options with the best perks won't be open to you because you don't have a good credit score.
Taking a car loan, allows you to repair your credit score. By regularly making the monthly payments, you will build a good credit history that will, in turn, improve your credit score.
Get over the Stigma
There's quite a lot of stigma on bad credit loans that give it a bad reputation. There are claims about high interest rates and even collection agents who cross the line. It's a few that give a bad name to the rest. A few bad credit lenders take advantage of the credit situation customers. What you need do is ensure that you pick a lender that has repute and is trustworthy.
Insta Auto Loan
Insta Auto Loan is the best pick for you. The whole process is online, making it extremely simple. Once you submit your details and put in your application, you'll get a reply the next day. Interest rates and the loan period can be negotiated according to your financial needs.
All in all, if you need an auto loan, then you shouldn't think twice about taking a bad credit auto loan.
7 car maintenance mistakes
Thursday 7 December 2017 at 11:06AM
Latest Version
Good maintenance will ensure that your car will last for long without any trouble. There are quite a few maintenance runs you can conduct to keep your car running well. However, if you don't know the ins-and-outs of your car, you could make a mistake. In fact, the web is filled with mistaken advice from people who don't know head or tail about maintaining a car.
So, what are the 7 car maintenance mistakes that you need to avoid?
1. Not Checking the Wiper Blades
A sudden shower or snow fall will force you to use the wiper blades, but if they don't work, your visibility will be greatly affected. Every month or so, check if the wiper blades are functioning correctly. If you find that they are not working, get them replaced as soon as possible.
2. Ignoring the Warning Light
A warning light is an indication that something is not right with your engine. While it is convenient to ignore, the risk is that your car engine will eventually fail when you're on the road.
3. Not Using the Garage
If you have a garage – use it to park your car, and don't use it as a store room or work space. Keeping your car out in the open has many risks. Your car could be stolen and rains and snow can damage it.
4. Ignoring the Oil and Filter
Checking the oil level and filter in your car is one of the easiest things to do. At least every week check the level of your engine oil and dust the filter.
5. Overlooking the Tires
Do you bother checking the condition of your tires? This becomes even more essential during winters in Edmonton. It doesn't hurt to take a look at your tires. Ensure the air pressure is correct and tires are properly inflated. Also, check the threads to ensure that they provide sufficient grip.
6. Not Pouring Coolant
If you don't check the coolant level in your car, there is chance that the engine will overheat. The reason most cars overheat, and even sprout a fire, is traced to lack of coolant in their engine.
7. Avoiding Regular Maintenance
How often do you run a maintenance check on the car? You should not just run a maintenance check if you are off on a long cross-country trip or because you just felt like it.
Regular maintenance is the best way to find problems before they actually severely affect your car. You should have a maintenance check at least once a month.
These are points that you should definitely keep in mind if you hope to take care of your car.
Thursday 7 December 2017 at 11:06AM
Latest Version
Good maintenance will ensure that your car will last for long without any trouble. There are quite a few maintenance runs you can conduct to keep your car running well. However, if you don't know the ins-and-outs of your car, you could make a mistake. In fact, the web is filled with mistaken advice from people who don't know head or tail about maintaining a car.
So, what are the 7 car maintenance mistakes that you need to avoid?
1. Not Checking the Wiper Blades
A sudden shower or snow fall will force you to use the wiper blades, but if they don't work, your visibility will be greatly affected. Every month or so, check if the wiper blades are functioning correctly. If you find that they are not working, get them replaced as soon as possible.
2. Ignoring the Warning Light
A warning light is an indication that something is not right with your engine. While it is convenient to ignore, the risk is that your car engine will eventually fail when you're on the road.
3. Not Using the Garage
If you have a garage – use it to park your car, and don't use it as a store room or work space. Keeping your car out in the open has many risks. Your car could be stolen and rains and snow can damage it.
4. Ignoring the Oil and Filter
Checking the oil level and filter in your car is one of the easiest things to do. At least every week check the level of your engine oil and dust the filter.
5. Overlooking the Tires
Do you bother checking the condition of your tires? This becomes even more essential during winters in Edmonton. It doesn't hurt to take a look at your tires. Ensure the air pressure is correct and tires are properly inflated. Also, check the threads to ensure that they provide sufficient grip.
6. Not Pouring Coolant
If you don't check the coolant level in your car, there is chance that the engine will overheat. The reason most cars overheat, and even sprout a fire, is traced to lack of coolant in their engine.
7. Avoiding Regular Maintenance
How often do you run a maintenance check on the car? You should not just run a maintenance check if you are off on a long cross-country trip or because you just felt like it.
Regular maintenance is the best way to find problems before they actually severely affect your car. You should have a maintenance check at least once a month.
These are points that you should definitely keep in mind if you hope to take care of your car.
Know your car fluids
Friday 12 January 2018 at 10:28AM
Latest Version
Knowing what fluids run in your engine will help you better maintain it. Petrol is not the only fluid that your vehicle drinks. Most car problems like an over-heated engine are caused because fluid is missing. You can prevent breakdowns and prevent vehicle parts from getting damaged by ensuring the right amount of fluid is in the engine.
So, what are the fluids that are in your vehicle's engine?
Motor Oil
Motor oil prevents rusting and acts as a lubricant for your engine parts to move smoothly. When your engine has cooled down, you can easily check the level of motor oil in your engine. There will be a measuring stick protruding from the engine. Pull it out and check the oil level on the measuring stick. It should at least have two levels on the stick. If the measuring stick marks a low amount of oil along with a dark color, you need to add more motor oil inside.
Transmission Fluid
The lack of transmission fluid may be the very reason as to why your gear shift is giving you a tough time. It lubricates your gears and helps it keep cool. Transmission fluid does not need to be added frequently.
The fluid has its own measuring stick in the engine. You'll want to remove it and wipe it on a cloth. If the liquid is reddish, brownish or pinkish, then it is fine. If it is discolored, you need to have the fluid replaced.
Brake Fluid
Not having brake fluid equals to you getting into a car crash because you were unable to stop the car. The brake fluid reservoir is usually located in the front part of the engine.
Open the cap and take a look inside. If you find the fluid is low, replenish it.
Coolant
Coolant is responsible for ensuring that your engine does not overheat. The coolant cap is in front of the engine. Open it and take a look inside. If it is less, then you need to add more.
Washer Fluid
This is liquid that is sprayed on your windscreen. You can use a specialized liquid for your windscreen or just water.
Power Fluid
The job of power fluid is to help you handle the steering wheel easily. If you find the steering wheel tougher to turn than usual, you probably need to check the power fluid.
Power fluid is stored in a plastic container near the power steering belt of your engine. Open the cap and check how much fluid is present. Also, wipe some of the fluid on the cloth. It should be brownish or pinkish. If it is discolored and darker than it should be, have the fluid changed.
Things to keep in mind
- Ensure that your car has cooled down before you check the engine, otherwise you may get burnt.
- Always check the car manual as different car models position these fluid containers and measuring sticks differently.
- Keep checking your engine's fluids at least once a month.
Keep these points in mind as they can easily prevent major disaster for you and your car.
Friday 12 January 2018 at 10:28AM
Latest Version
Knowing what fluids run in your engine will help you better maintain it. Petrol is not the only fluid that your vehicle drinks. Most car problems like an over-heated engine are caused because fluid is missing. You can prevent breakdowns and prevent vehicle parts from getting damaged by ensuring the right amount of fluid is in the engine.
So, what are the fluids that are in your vehicle's engine?
Motor Oil
Motor oil prevents rusting and acts as a lubricant for your engine parts to move smoothly. When your engine has cooled down, you can easily check the level of motor oil in your engine. There will be a measuring stick protruding from the engine. Pull it out and check the oil level on the measuring stick. It should at least have two levels on the stick. If the measuring stick marks a low amount of oil along with a dark color, you need to add more motor oil inside.
Transmission Fluid
The lack of transmission fluid may be the very reason as to why your gear shift is giving you a tough time. It lubricates your gears and helps it keep cool. Transmission fluid does not need to be added frequently.
The fluid has its own measuring stick in the engine. You'll want to remove it and wipe it on a cloth. If the liquid is reddish, brownish or pinkish, then it is fine. If it is discolored, you need to have the fluid replaced.
Brake Fluid
Not having brake fluid equals to you getting into a car crash because you were unable to stop the car. The brake fluid reservoir is usually located in the front part of the engine.
Open the cap and take a look inside. If you find the fluid is low, replenish it.
Coolant
Coolant is responsible for ensuring that your engine does not overheat. The coolant cap is in front of the engine. Open it and take a look inside. If it is less, then you need to add more.
Washer Fluid
This is liquid that is sprayed on your windscreen. You can use a specialized liquid for your windscreen or just water.
Power Fluid
The job of power fluid is to help you handle the steering wheel easily. If you find the steering wheel tougher to turn than usual, you probably need to check the power fluid.
Power fluid is stored in a plastic container near the power steering belt of your engine. Open the cap and check how much fluid is present. Also, wipe some of the fluid on the cloth. It should be brownish or pinkish. If it is discolored and darker than it should be, have the fluid changed.
Things to keep in mind
- Ensure that your car has cooled down before you check the engine, otherwise you may get burnt.
- Always check the car manual as different car models position these fluid containers and measuring sticks differently.
- Keep checking your engine's fluids at least once a month.
Keep these points in mind as they can easily prevent major disaster for you and your car.
Will your credit score improve with a car loan?
Monday 5 February 2018 at 10:35AM
Latest Version
If you're taking a car loan, you should be worried about your credit score. You are taking on substantial debt that can negatively affect your credit situation. It is even more worrisome if you have a bad credit score.
So why even consider taking a car loan if you have bad credit? And, will a car loan improve your credit situation? These are questions that may be going through your mind.
Interest Rate
The interest rate will point out how affordable the loan is. Ideally, you should try to negotiate a low interest rate. However, the interest rate also depends on the loan amount you take. It is vital that you take a car loan that offers an affordable interest rate. If you take a loan that has an interest rate that is too high, and your income can't sustain it, you shouldn't take it. If you do take it, you will only further get into debt and worsen your credit situation.
Loan Period
You should also pay attention to the loan period. You don't want to be carrying this debt for a long time. Also, know that a loan period affects the payment amount of a loan.
Limited Loan Options
Depending on your credit score, you will have limited loan options. Many financial institutions have certain conditions that customers have to fulfill. Credit score is a major factor in helping financial institutions decide if they will approve your car loan.
However, that does not means all the doors are shut to taking a loan.
New Opportunity
What a car loan does is give you a new opportunity to improve your credit score. By regular debt payment of your car loan, you can slowly improve your credit history. Good credit history, in turn, will improve your credit score.
Keeping the Payment Pace
Improving your credit score by taking a car loan is all about ensuring that you keep paying the monthly payment.
- To do this, you need to do a bit of budgeting. Budget your income and spending, and allocate sufficient funds to pay your car loan debt.
- Putting in your salary bonus can help you pay off the car loan debt quicker than sticking to the loan period.
If you need a car, go and get it, don't let poor credit score hold you back. By regular payment of the loan you improve your credit score to a substantial amount. Additionally, Insta Auto Loan offers car loans to individuals whether they have a bad credit score or not. This way, they get a new opportunity to improve their credit score and can buy a car.
Don't fall behind on your auto loan payment
Tuesday 13 March 2018 at 11:38AM
Latest Version
No one wants to fall behind on their auto loan payment. The moment you start falling behind your loan payment, you will find that it will be troublesome to catch up. Catching up with your auto loan payment is even more difficult when you're having income problems.
However, there are serious consequences to not keeping up to your car loan payment.
- Risk losing ownership of your car
- Credit score will suffer
- A build up of missed payments will make it difficult to catch up
Here's how you do not fall behind on your auto loan payment.
Start a Budget
There is only one way to manage your income well and that is budgeting. Start tracking your spending. You can do this either through the classic pen and paper way, or use an expense tracking app on your phone. After a week of expense tracking, you'll have an accurate idea of your expenses.
The next step is to allocate sufficient income to each of your necessary expenses. Any expense that is an unnecessary one can be cut down. It is a simple and effective way to save more money that you can use to pay your auto debt.
Allocate Sufficient Funds
Using budgeting, you can ensure that you allocate sufficient money to meet the monthly payment for the auto loan. This way you don't fall short in making a single auto loan payment.
Make a Repayment Plan
The best way to ensure that you don't fall behind is to ensure you're ahead, and a repayment plan allows you to do this.
Through a repayment plan, you map out the months in front of you. You create an effective guide to paying off your auto debt within the specified time frame.
Keep up the Income
If your income has been regular, then you have to figure out a way to ensure that you earn enough to make those monthly payments.
- Get a Second Job
If you can handle the pressure, a second job is a good way to improve the flow of cash.
- Freelance
There are many freelance jobs available online if you can write, design or code. Freelance gives you great flexibility to earn without getting out of the house.
Use those Bonuses
Earned a little extra this month? Don't blow away the money. Instead, use it to pay off your car loan. This kind of influx will help you pay off the loan quicker.
Never Pay Late
Never make a late auto loan payment. While the above tips will help you get money for the payment, it would be foolish if you allow the payment to slip your mind and default on it just because you did not have the time.
Mark the payment day on your schedule, so you don't miss it out.
Not falling behind on your auto loan payment is not easy. However, by doing so, you improve your financial situation, reduce debt and improve your credit score.
Tuesday 13 March 2018 at 11:38AM
Latest Version
No one wants to fall behind on their auto loan payment. The moment you start falling behind your loan payment, you will find that it will be troublesome to catch up. Catching up with your auto loan payment is even more difficult when you're having income problems.
However, there are serious consequences to not keeping up to your car loan payment.
- Risk losing ownership of your car
- Credit score will suffer
- A build up of missed payments will make it difficult to catch up
Here's how you do not fall behind on your auto loan payment.
Start a Budget
There is only one way to manage your income well and that is budgeting. Start tracking your spending. You can do this either through the classic pen and paper way, or use an expense tracking app on your phone. After a week of expense tracking, you'll have an accurate idea of your expenses.
The next step is to allocate sufficient income to each of your necessary expenses. Any expense that is an unnecessary one can be cut down. It is a simple and effective way to save more money that you can use to pay your auto debt.
Allocate Sufficient Funds
Using budgeting, you can ensure that you allocate sufficient money to meet the monthly payment for the auto loan. This way you don't fall short in making a single auto loan payment.
Make a Repayment Plan
The best way to ensure that you don't fall behind is to ensure you're ahead, and a repayment plan allows you to do this.
Through a repayment plan, you map out the months in front of you. You create an effective guide to paying off your auto debt within the specified time frame.
Keep up the Income
If your income has been regular, then you have to figure out a way to ensure that you earn enough to make those monthly payments.
- Get a Second Job
If you can handle the pressure, a second job is a good way to improve the flow of cash.
- Freelance
There are many freelance jobs available online if you can write, design or code. Freelance gives you great flexibility to earn without getting out of the house.
Use those Bonuses
Earned a little extra this month? Don't blow away the money. Instead, use it to pay off your car loan. This kind of influx will help you pay off the loan quicker.
Never Pay Late
Never make a late auto loan payment. While the above tips will help you get money for the payment, it would be foolish if you allow the payment to slip your mind and default on it just because you did not have the time.
Mark the payment day on your schedule, so you don't miss it out.
Not falling behind on your auto loan payment is not easy. However, by doing so, you improve your financial situation, reduce debt and improve your credit score.
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St Albert Location
Address: 4 Riel Dr Building A, St. Albert, AB T8N 3Z7
Phone: 1(833) 554-6782
Mon to Fri - 9AM to 7PM
Sat - 10AM to 4PM
Sun - Closed
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Address: 13055 149 St, Edmonton, AB T5L 2J7
Phone: (587)442-4160
Mon to Fri - 9AM to 7PM
Sat - 10AM to 4PM
Sun - Closed
Acheson Location
Address: 11327 269 St, Acheson, AB T7X 5A3
Phone: +1 833-554-6782
Mon to Fri - 9AM to 7PM
Sat - 9AM to 4PM
Sun - Closed
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Address: 131 1 Ave E#108, Spruce Grove, Alberta, T7X 2Z8
Phone: TBA
Mon to Fri - 9AM to 7PM
Sat - 9AM to 4PM
Sun - Closed
