How to Save on an Extended Car Warranty Find Out

An extended warranty safeguards against any unforeseen, expensive car repairs. This type of warranty is different than the one you received from your dealer when you purchased your automobile. They are actually service contracts because they are sold separately and have a different price. In addition, the warranty covers the unforeseen repairs but also the regular maintenance. If you are the type who likes to be prepared in the event that anything happens to your vehicle, you’ll definitely want an extended warranty. However, you don’t have to pay the full price. Here are some tips to help you get the best price on an extended warranty.

Shop Around

You may want stay with the auto dealer you purchased your automobile from. However, it pays to shop around. You can search for quotes online or through other vehicle service contract providers. Be careful. According to EnduranceWarranty.com, just because the provider has a cheaper or more expensive price doesn’t mean that you receive the same type of coverage. Make sure you know the answers to:

What is covered?

Every extended warranty is different. However, it should include cover specific things like turbochargers and overheating.

How are the warranty claims handled?

There are some common restrictions included in each warranty like using certain repair facilities to paying upfront before work is completed. Find out how claims are handled so you won’t be surprised later.

What service plan do you qualify for?

It will help you understand if the extended warranty offered meets your criteria.

Regardless of the answers to the questions listed above, more than one quote. This will give you a lot of power later to get a better deal later.

Search for Online Codes

There are a lot of coupon codes online to make an extended warranty cheaper. You can redeem them online will getting a quote or sometimes with the provider you call.

Ask if the Auto Warranty Provider Offers Discounts

Many auto warranty providers won’t mention this, but they do offer discounts depending on your situation. For instance, providers often offer discounts to seniors and the military. There is another type of discount called first-call discount. This type of warranty discount is offered when you first contact the provider. It’s akin to the provider rewarding you for contacting them. Use whatever discount applies to you and situation you could save as much as $400 on your extended warranty—or more.

Be Willing to Negotiate

If the quoted price is too high, you don’t have to accept it. Negotiate a lower price. With more than one quote from more than one provider, you can negotiate for something lower. If the provider doesn’t want to work with you, then you have more providers on your list.

Find a Reliable Provider

If you negotiate a great deal with a company you have to make sure that this company is reliable. In order to save some of your time, we came across two different reliable review websites for the 2014: Top Ten Reviews and TheTopTens.com have both listed the top ten best extended auto providers in the United States.

Whether you go through a third party provider or your manufacturer you shouldn’t pay more than you need to for an extended warranty. Remember, as the customer you have the negotiating power. Use it to get the best deal possible.

Investing in Cars: 5 Money-Saving Tips for Buying a New Car

The mere thought of getting a brand new car causes some people to become filled with excitement. Although purchasing a new ride can be a wonderful experience, it will be much better if you strive to get the most value for your money. In some instances, you may have to make a few compromises when shopping for a new vehicle. Here are five money-saving tips for buying a new car.

Develop a budget

Before heading out to search for a new ride, you will first need to develop a reasonable budget. Being stuck with an expensive car that you can barely afford can be very frustrating. When establishing a budget, be sure to factor in the cost of insurance and the interest rate. Knowing your financial limits will give you more leverage when making a car deal.

Sell your current ride

Although you generally have the option of trading in your old ride, it is usually not as beneficial as selling it. The vast majority of car dealerships are unlikely to give you nearly the cash for your current vehicle on trade in that you could get for it otherwise. Selling your car on the open market is often a far better option if you want to get the most money from it. That money can then be used toward making a down payment on a new car.

Obtain the necessary funds beforehand

Waiting until you visit the dealership to seek a loan puts you in a very compromising position. Acquiring a pre-approved loan will eliminate the need to obtain a loan through the car dealership. Do not hesitate to get several quotes from a variety of lenders. This will help you to get the lowest interest rate available.

Purchase aftermarket upgrades

Often times, optional car features will add thousands of dollars to the total cost of a vehicle. If you desire to save some money, you can opt to purchase your own aftermarket upgrades. For example, you may be seeking a high-performance set of tires. Instead of paying the expensive premium demanded by the car dealership, you can save money by shopping at discounted online vendors such as http://simpletire.com or others.

Have patience

When searching for a new vehicle, it is critical that you exude patience. Do not settle for a vehicle that you really do not even like. Veteran car salesmen can smell a desperate car buyer from a mile away. Always be prepared to walk away from a deal that seems too expensive.

Buying a new car does not have to be a financial burden. You can find an amazing deal by taking the proper steps.

This article was written by Rianne Hunter with assistance from Rhett Stone. Rianne is a mother of three and an avid finance, auto, and family blogger.

Understanding the Basics of Vehicle Financing

Purchasing a new vehicle can be a very daunting task. The average vehicle today costs anywhere from $15,000 for a used model and almost $30,000 and up for a new vehicle. Because of this increased cost, most consumers have to have some type of financing. The financing will help with the vehicle purchase by setting up payments per month. It is important for consumers to understand the financing process before shopping for a vehicle. Understanding the lingo and how financing works allows for consumers to get the best deal. Below is a simple guide to understanding vehicle financing. 

Financing

When it comes to purchasing a vehicle, consumers have two options: Direct Lending and Dealership Financing. With direct lending, the consumer is using a bank, credit union or finance company to obtain a loan. The financial establishment will need personal information to see if you qualify. If you do, you will then agree to a set amount for purchase, then an agreed finance charge which is paid over time. once a contract is in place for a new vehicle, the contract is signed and the amount is paid to the dealer. You are then responsible for a monthly payment on your new vehicle.

With dealership financing, you have the option of financing the vehicle directly from the dealer. You agree to the price of the vehicle and a finance amount, plus a charge which is set over time. In most cases, the dealership will retain a contract but sell the contract to a bank, credit union or finance company as an assignee. This group will then accept the payments on your loan. Most consumers find that dealership financing is best because it is convenient, there are more financing options and special programs can be found for saving additional funds during the purchase.

Your Credit

Before purchasing a new vehicle, it is also a good idea to check your credit report. you want to be sure that you have an up-to-date account of your credit. to obtain the best loan, you will need a score of 725 or higher. Always check your credit and work on any issues so that you do not have any problems when purchasing a new vehicle.

Consider a Co-Signer

When financing a new vehicle, you may be in need of a co-signer. A co-signer is someone who signs a loan agreement with you to assume an equal responsibility for the amount owed. You want to choose someone who has a good credit history and one that is willing to help you if you are in need. This is a major obligation and one that the purchaser of the vehicle must take very seriously.

Affordability

Consumers should always be aware of their finances. Take the time to go through your financial records and bills for each month to be able to determine the payment amount you can afford. You never want to spend more than you have or you may end up losing money and your new vehicle. Do a little budgeting and determine a set amount you have for a vehicle payment and stick to this amount. This will allow you to remain comfortable in your lifestyle despite a new vehicle purchase.

Overall it is important to learn the basics. Take the time to learn financial terms and even go so far as to speak with a loan officer to find out what you can afford as well as learn about the process. You will feel more comfortable with a new vehicle purchase by learning more about the process.

About the Author

Ashley Parker has vast experience with purchasing vehicles and likes to spread her knowledge about the financial aspects of a purchase. A great bonus tip is to search for a website of a car dealership so that you can take advantage of special deals and promotions.

Car Financing Options for Retired People

English: Car Dealer, Eastern Avenue, Gants Hill (Photo credit: Wikipedia)

Most seniors who have been through car buying experiences in the past feel that some types of torture could be preferable to going through this process again. If the old clunker appears to be gasping out its last breath, however, it may be time to think through the financing options available and prepare for the car buying process in advance in order to make it easier. Basically, seniors have three options from which to choose if they have need of a new vehicle: buying with cash, financing the cost, or signing a lease agreement. The following information may be helpful to those trying to make the best decision concerning these choices: 

Paying the Entire Amount 

Seniors who have savings stashed back for a rainy day may find that using these funds to pay for a new car is actually cost effective. Interest rates are at record lows so the money saved from buying a car outright and not paying any interest could actually be more than the interest rate paid on any some savings accounts. Of course, if the dealership is offering deals that include payments with no interest added, it may be better to keep the money in savings and take a bit longer to pay for the car. 

Financing the Price 

Most retired people, concerned about keeping enough in their nest egg for emergencies or health problems, choose to make payments on a new car. When choosing this option, it is important to negotiate not only the price of the car, but also the terms of the loan. Seniors with a great credit score should get the best interest rates on the market so always know these rates before going to the dealership. It is also wise to check other financing options before signing on the dotted line. Sometimes credit unions and banks can beat the interest rates offered by the dealership, and people who negotiate with available cash often get a better bargain on the price of the vehicle. 

Signing a Lease 

Although leasing sometimes gets a bad rap, it may actually be the best choice for many seniors, especially those who are retired and live near family. Leasing takes away the need to worry about repairs because the car is always under warranty. Most cars can be leased with very little cash exchanged upfront, and most leasing agreements give the driver at least 12,000 miles per year before any penalties apply. Monthly payments on a leased vehicle, compared to those that must be made when the car is purchased, are almost always lower. 

It is important to know that whether a car is bought with cash or financed for several years, the owner will actually have some equity in the vehicle when he decides to upgrade to a newer model. This is not true of leased vehicles; however, many retired people will find the ease and convenience of leasing a car more than makes up for the resulting lack of equity. Impulse buying may be fun for some seniors, but when it comes to obtaining a new vehicle, planning and information can sweeten any deal. 

Melanie Lewis writes for a site that offers advice on automobile loans and has tips on things to consider before purchasing a new vehicle.