Tam Chan Steel Finance

Posts Tagged ‘car’

Car loans nowadays have never been so easy since the emergence of internet. Looking at the previous scenarios, people tend to waste time and money looking for the best car deals through newspapers, magazines and TV ads. Now, you can see hundreds of banks, lending institutions that are operating online and they compete tightly with each other leading to increasing of lender’s advantage like low interest rates and other privileges.

Even people who are not Computer geeks can just simply browse the internet and search for car loans deal. To get the best service, it is always wise to enter the most secured lending and bank website. This is also important to avoid being scammed. Here are tips for you:

• Make a list of lending websites/banks

You may be overwhelmed for the many site options on the web. To make it easier, make a list of the websites that you think have the best deals based on interest rates and based on promos and other benefits.

• Are they secured? Visit Review Sites

You shouldn’t believe everything you see on the internet, but it doesn’t mean that there aren’t secured sites out there. To make sure that everything info you put are secured and the website is trusted, it’s always a great option to read reviews and feedbacks about them. You can visit discussion boards wherein, real and actual clients will comment on their service and they may even relate their experiences on the car loans.

Online car loans gives you also the benefit to monitor your expenses, the total payment you already paid, and the remaining balance left for you to pay. This way, you’ll have a clear cut of where your money goes and allows you to prepare your money ahead before the due date comes. Just make sure to choose the best lending websites on the internet.

Some people prefer renting a car instead of buying one, their main reason is they will upgrade anyway in a couple of years. In Europe there are a lot of rental car companies that offers these, Mietwagen in Germany where it is very popular, Autohuur in Netherlands and finally Location de voiture in France

If you plan to rent a car and do not have a credit card but a debit card, you may want to seriously consider obtaining a credit card first if possible. Lots of people are trying to avoid credit cards and the debt they can rack up, but when it comes to car rentals, having a credit card can make things easier.  In fact, even if you plan to ultimately pay for your rental car with cash, the rental agency will want to swipe a credit card in advance. Some car rental agencies don’t accept debit cards as payment, and some do. With the ones that do, there are usually catches. One is, they may charge a higher rate.

Additionally, the company will put a hold on the debit card that may be as much as $500, freezing the money in your account for a period that my last up to three to five days after turning in the car. Some companies put a hold on the cost of the rental plus $200. They may also do an instant credit check on you before renting a car.  Generally, in the United States, if you are 25 or older, you can reserve a car with a debit card as long as it has the MasterCard or Visa logo. You may well face some “red tape” with the transaction. Even with companies that say they accept debit cards, not all locations of that company may accept them. You’ll usually be asked for another form of ID, like a passport, current utility bill, or your airline ticket.

With a debit card, you may not have the option of renting a luxury car, specialty vehicle (like a convertible) or an SUV. If you want to pay by debit card, your best bet may be to present a valid credit card at check-in and then pay by debit card when you turn in the car. That should minimize the “hold” time placed on your funds.  For those who want to rent a car and pay with a debit card, call ahead to the specific branch from which you will be renting and ask what their debit card policy is.

To get the best deal on car insurance for your electric or hybrid vehicle, look for an insurance company that has experience with these cars. Insurers that are unfamiliar with hybrids and electric vehicles (EVs) may hedge their bets by charging higher premiums as they build up their base of experience. Auto insurance rates are usually calculated based on repair costs and replacement value as well as the likelihood of a vehicle being in an accident.

Though early adopters of hybrids and electric vehicles enjoyed good insurance rates due to their typically low-risk demographic profiles, it is likely that in coming years insurance rates for these cars will rise, possibly faster than the overall increase in auto insurance rates, as reported by Mitchell International’s Industry Trends Report.

The reason is simple: these cars are being purchased by a broader swath of the population. True, hybrids and electrics only represent about 3% of U.S. passenger car sales, but it still represents hundreds of thousands of cars. With hybrids edging into the mainstream, the overall pool of hybrid buyers has come to resemble that of all car buyers. They now represent accident rates closer to those of the other 97% of the driving public, and premiums are starting to go up to reflect higher claims costs.

But even though there are far more hybrids and EVs on the road today, repair costs are still high, due to much lower use of aftermarket parts for repairs. The fact is, there are far fewer parts for hybrids and EVs from recyclers than there are for regular cars, so repairs cost more: around $180 more on average.

Another characteristic of hybrids and EVs is that they are virtually silent, and pedestrians and cyclists often don’t hear them approaching. In September 2009, the National Highway Traffic Safety Administration (NHTSA) reported that the risk of injury accidents involving cyclists and pedestrians are significantly higher with hybrids and EVs, especially if the vehicles are traveling at typical city speeds of 20 to 35 mph. Existing hotels on a busy street also have some issues.

Eco-friendly cars are here to stay, and are a welcome addition to our transportation choices. It is very important that owners insure them properly, by choosing insurers who understand the unique features of hybrids and EVs.