mercredi 19 décembre 2012

Applying for Used Car Loans

If you have been shopping for good used cars, you may have discovered that the hardest part is finding Used Car Loans. More and more people are discovering the advantages of purchasing a used car over a new car. Buying a new car can be out of the means of many people. If your budget is tight, you will probably find that you can get the most “bang for your buck” if you buy a Used Car. Loans on used cars, however, can sometimes be problematic.
Why is it sometimes difficult to get Used Car Loans? Car loans are generally “secured loans,” which means that the value of the car is the collateral for the loan. If you don’t pay, the lender takes the car back. In the case of Used Car Loans, however, the true value of the car can sometimes be hard to determine because vehicles lose their value very quickly. The lender can’t be sure that the car will be worth more than the amount of the loan. To make up for the possible decline in value, many traditional lenders often charge significantly higher interest rates on their Used Car Loans.
So, if you are thinking about buying a used car, it is important that you shop around for Used Car Loans before you start shopping for your vehicle. Although sometimes difficult to find, Used Car Loans are available and they are available for people of all credit types.
Your best option is to look for a direct lender who specializes in Used Car Loans. A direct lender issues loans directly to the customer without going through a middleman, such as a dealership. Since they specialize in Used Car Loans, they are more likely to help you in choosing the right used car for you.
RoadLoans is an online direct lender that has helped tens of thousands of people purchase the vehicles they want. In business for over ten years, RoadLoans specializes in providing financing and servicing of new and Used Car Loans for people with less than perfect credit.
When you visit RoadLoans.com, applying for Used Car Loans is easy. The online application takes only minutes to complete, and in many cases you will receive a decision instantly. Loan approvals are valid for 2004 model year vehicles or newer with less than 90,000 miles. The vehicle you choose cannot be a commercial, conversion or customized vehicle.
RoadLoans approvals for Used Car Loans can be used at theRoadLoans Dealer listed in your loan package. All RoadLoans Dealers carry an inventory of high-quality, fully reconditioned vehicles. Once you have chosen your vehicle, the dealer takes care of the rest. They will review your loan package and paperwork with you and you will soon be on your way with your new car or truck.
Finding Used Car Loans doesn’t have to be difficult. Go to RoadLoans.com and experience Auto Finance Made Easy.

How to Save Money on Car Insurance


There is a very good chance that you are — this very moment — paying too much for your car insurance. There is an even better chance that you could get a better rate, from another insurance company, than you could from your existing insurer.
So why not take an hour or so and review your policy for potential savings? Or, if you're fed up with the high insurance rates from your current insurer, shop around for a new company.
The Internet has created increasing competition between car insurance companies. It is easier than ever for consumers to shop for low insurance rates, to analyze coverage and compare premiums. Still, studies have shown that people don't shop around for insurance in the same way they might shop for a new car. Also, people tend to stay with the same car insurance company for years. Why not prove these studies wrong? Put the power of the Net to work for you and save money in the process.
You can save on auto insurance in five ways:
  1. Make sure you get all discounts you qualify for
  1. Keep your driver's record clean and up-to-date
  1. Adjust your coverage to assume more risk
  1. Drive a "low profile" car equipped with certain money-saving safety features
  1. Shop around for a good, low cost insurance provider
First, let's look at the discounts you might qualify for. Discounts fall into a number of categories:
  • Low-risk occupations
  • Professional organizations
  • Combined coverage
  • Discounts for safety features
  • More risk assumed by driver
  • Discounts for senior citizens
Insurance is a numbers game. Adjustors collect information about what types of people get into accidents. Over the years they see a trend. Drivers that work as engineers tend to get into fewer accidents. Why? It would be fun to speculate about the reasons (pocket protectors — need we say more?) but the insurance companies don't really care about that. All they know is that, in fact, engineers are a low risk. Since there is less chance that they will wrap their cars around the trunk of a horse chestnut tree, they charge engineers less for insurance. Simple.
But you say you are a teacher instead of an engineer? You might still be in luck. There may be discounts for teachers. You never know unless you ask — and unless you shop around. Not all insurance companies are the same.
Have you ever been about to pay $100 for a hotel room, only to discover that a AAA discount saves you 15 percent? Now you're paying $85 and feeling proud of yourself. It's similar in the insurance business. Affiliation with AAA — and certain other professional organizations — will lower your rates. You should check with your employer to see if there are any group insurance rates. At the same time try checking directly with the insurance company representative when you inquire about the cost of policies.
A big source of savings is to insure your cars with the same company that insures your house. Make sure you ask if combined coverage is available. This will lower your payments on your car insurance and make your homeowner's policy cheaper too.
It's also important to make sure you are getting a "renewal" discount that many car insurance companies offer. This is a discount given to people who have been with the same insurance company for an extended period of time. If you have carried insurance with a company for several years, and not had an accident, your insurance company likes you. Think about it. You paid them a lot of money and they didn't have to do anything except send you bills and cash your checks. True, they were ready to do something if you got in an accident. But you didn't get into an accident so they're happy and want to continue their relationship with you. A renewal discount is a good incentive to urge you to return. And it's a good reason for you to stay with them.
Auto safety features will also lower your payments. Heading the list of money saving safety features is antilock brakes. Certain states — such as Florida, New Jersey and New York — encourage drivers to buy cars with antilock brakes by requiring insurers to give discounts. Check to see if you live in such a state, or if the insurance company you are considering gives a discount for this feature. Automatic seatbelts and airbags are also frequently rewarded with insurance discounts.
Two powerful ways to bring your coverage down is to assume a higher risk. This is done in two ways. The most dramatic reduction can be realized by dropping your collision insurance on an older car. If the car is worth less than $2,000, you'll probably spend more insuring it than it is worth. The whole idea of driving an older car is to save money, so why not get what is coming to you?
Another way to redesign your policy — and save money in the process — is to ask for a higher deductible. The deductible is the amount of money you have to pay before your insurance company begins paying the rest. In other words, you pay for the little dings and bumps and let your insurance company pay for the heavy hits.
For example, a common deductible amount is $500. This means if an accident you're in causes $1,500 worth of damage, you pay $500 and the insurance company pays $1,000. You could, however, set your deductible to $1,000. This still covers you against heavy losses, but it may decrease your monthly premium by as much as 30 percent.
As a final note, if you are being strangled by high insurance costs, keep this in mind when you go car shopping next time. The more expensive and higher-performance the car is, the higher the premium will be. This is particularly true of cars that are frequently stolen, or are expensive to repair. The insurance company keeps this in mind when setting its insurance rates for this vehicle. Shop for a low-profile car and get your kicks in other ways. You'll love the savings you'll see on your auto insurance.

Low-Risk Occupations

Professional Organizations and Auto Clubs

Combined and Renewal Discounts

Discounts for Auto Safety Features

Assume More Risk

Auto Insurance


When it comes to auto insurance, you want to be adequately covered if you get in an accident, but you don't want to pay more than you have to. Unfortunately many people are doing just that, simply because they don't want to spend time shopping for car insurance. It's not inherently enjoyable, after all, despite how it looks in commercials featuring disgruntled cavemen and joke-cracking spokespeople.
But by doing some comparison shopping, you could save hundreds of dollars a year. When one of our editors used a rate-comparison service, he got basic coverage quotes for his two old cars that ranged from $1,006 to $1,807 — a difference of $801 a year. If you're paying thousands to your current insurance company because you have a couple tickets, an accident or an out-of-date and unfavorable credit rating, shopping your policy against others might be well worth the effort. Look at it this way: You can convert the money you save into buying something you've wanted or needed for a long time.
Step 1: Decide How Much Coverage You NeedTo find the right auto insurance, start by figuring out the amount of coverage you need. This varies from state to state, so take a moment to find out what coverage is required where you live.
Once you know what's required, you can decide what you need. Some people are quite cautious. They base their lives on worst-case scenarios and insurance companies love that. Insurance companies are in the risk business, and they know a policyholder's likelihood of being in an accident, as well as how likely it is for a car to be damaged or stolen. The insurance company crunches the information it has collected over decades into actuarial tables that give adjustors a quick look at the probability of just about any occurrence. You don't have those tools at your disposal, so your decision will depend on your own degree of comfort in assuming a certain level of risk.
Experts recommend that if you have a lot of assets, you should get enough liability coverage to protect them. Let's say you have $50,000 of bodily injury liability coverage but $100,000 in personal assets. If you're at fault in an accident, attorneys for the other party could go after you for the $50,000 in medical bills that aren't covered by your policy.
General recommendations for liability limits are $50,000 bodily injury liability for one person injured in an accident, $100,000 for all people injured in an accident and $25,000 property damage liability (usually expressed in insurance shorthand as 50/100/25). Here again, let your financial situation be your guide. If you have no assets that an attorney can seek, don't buy coverage unnecessarily.
Your driving habits might also be a consideration in determining the coverage you need. If your past is filled with crumpled fenders, or if you have a lead foot, or if you make a long commute on a treacherous winding road every day, then you should get more complete coverage. Collision coverage pays for damage that your car experiences in an accident or damage from hitting an inanimate object (a tree, light post or fence, for example). Comprehensive coverage addresses damage that didn't occur in a collision — such as from fire, theft or flood. It also covers damaged windshields.
Keep in mind that you don't have to buy collision and comprehensive coverage. Let's say your vehicle is older, you have a good driving record and there is little likelihood that your car would be totaled in an accident, but a high likelihood of it being stolen. Then you could buy comprehensive coverage and skip the collision insurance.
Step 2: Review Your Current Insurance PolicyRead through your current policy or contact your auto insurance company to get the information you need. Jot down the amount of coverage you have now and how much you are paying for it. Take note of the yearly and monthly cost of your insurance, since many of your quotes will be given both ways. Now you have a figure to beat.
Step 3: Check Your Driving RecordYou should know how many tickets you have had recently. If you can't remember how long that speeding ticket has been on your record, check with your state's department of motor vehicles. If a ticket or points you earned are about to disappear, thus improving your driving record, wait until that happens before you get quotes. Nothing drives up the price of insurance like a bad driving record.
Step 4: Solicit Competitive QuotesNow it's time to start shopping. Set aside at least an hour for this task. Have at hand your current insurance policy, your driver license number and your vehicle registration. You can begin with online services. If you go to an online site to get a quote for an insurance rate, you can type in your information and begin to build a list of companies for comparative quotes. Keep in mind that not all insurance companies participate in these one-stop-shopping sites, however. If a recommendation from friends and family or other research points to a company that you think might be a winner, you can go directly to its Web site or call its toll-free number to get a quote.
Each quote form takes about 15 minutes each to complete. It might be well worth your time, since if the entire shopping process takes you two hours and you save $800, you're effectively earning $400 an hour.
Step 5: Gather Quotes and Company InformationWhile you're researching companies, take careful notes so you can easily make price and coverage comparisons. Keep a list of:
  • Annual and monthly rates for the different types of coverage. Make sure to keep the coverage limits the same so you can make apples-to-apples comparisons for cost and coverage.
  • The insurance company's 800 telephone number, so you can get answers to questions you couldn't find online.
  • The insurance company's payment policy. When is the payment due? What kinds of payment plans are available? What happens if you're late in making a payment?
In later steps, you'll add some more information to this list.
Step 6: Work the PhonesOnce you have gathered information online, it's time to work the phones. Contact those companies from which you haven't been able to get an online quote. Doing the research by phone can actually be easier and faster than on the Internet, provided you have your driver license and vehicle registration close at hand. When you get a quote over the phone, be sure to confirm the price by asking the representative to e-mail the quote to you.
Step 7: Look for DiscountsWhen you're making these calls and shopping online, make sure you explore all your options relating to discounts. Insurance companies give discounts for such things as a good driving record, your car's safety or security equipment and certain occupations or professional affiliations. Some companies are now offering lower rates if you enroll in "pay as you drive" plans. Some will give substantial discounts for young drivers in the family who have high grade-point averages. (You can use this as an incentive to your teen drivers and offer to share the savings with them.) Also consider using the same insurance company for home and auto policies. That will usually get you a better price. For more guidance on discounts, check out "How to Save Money on Car Insurance" .
Step 8: Assess the Insurance Company's Track RecordYou now have most of the price and coverage information that you need to make a decision. You can see which company's coverage is least expensive, but it's important to keep in mind that cheap isn't the only basis for choosing an insurer. How do you know which company is financially sound? How do you find out if an insurance company is going to treat you right — particularly in the event of a claim?
Here are some places to check to develop a clearer picture of an insurance company's track record for fairness, financial stability and customer service.
1. Use the National Association of Insurance Commissioners' Consumer Information Source to access information about insurance companies, including closed insurance complaints, licensing information and key financial data. You also can visit your state's department of insurance to check consumer complaint ratios and basic rate comparison surveys.
2. Consider contacting an independent insurance agent for additional information about a company.
3. Check out the financial strength ratings for an insurance company by referring to the ratings fromA.M. Best and Standard & Poor's (registration may be required).
4. Review consumer satisfaction surveys from J.D. Power and Consumer Reports (subscription required).
5. Ask friends and family about their insurers and whether they're satisfied with them. In particular, ask them how their insurance companies treated them if they had a claim. Did they get fair, straightforward service? Or was it a hassle to get the matter resolved?
Step 9: Review the Policy Before You SignWhen you're done your research and zeroed in on a company, read over the main points of the policy. In addition to verifying that it contains the coverage you've requested and priced, it's a good idea to find out if the policy states that "new factory," "like kind and quality" or "aftermarket parts" may be used for body shop repairs, says Dennis Howard, director of the Insurance Consumer Advocate Network. If the policy has such a requirement, think hard about whether this is the company for you, particularly if you own a relatively new car that you plan to keep for a while. In this case, it's best to know at the outset that the insurer will pay for original manufacturer parts, rather than try to fight later, when you have a claim.
Step 10: Cancel Your Old Policy; Carry Your ProofAfter you have secured the auto insurance policy you want, cancel coverage with your existing insurance company. If your state requires you to carry proof of insurance, make sure you put the card in your wallet or the glove compartment of your car.
Finally, here's a quick checklist to keep you on track:
  • Determine your state's minimum insurance requirements.
  • Consider your own financial situation in relation to the required insurance and consider whether you need to increase your limits to protect your assets.
  • Review the status of your driving record — do you have any outstanding tickets or points on your driver license?
  • Check your current coverage to find out how much you are paying.
  • Get competing quotes from Internet insurance Web sites and individual companies of interest to you.
  • Make follow-up phone calls to insurance companies to get additional information about coverage.
  • Inquire about discounts.
  • Evaluate the reliability of the insurance companies you're considering by visiting your state's insurance department Web site, reviewing consumer surveys and talking to family and friends.
  • Review the policy before finalizing it. Remember to cancel your old policy.

Auto Insurance Pricing Plans


Except for government-mandated liability insurance, most car insurance plans charge a premium based on several risk factors that are likely to have an impact on the frequency of occurrence or on the expected cost of future claims. The premium usually depends on the car characteristics, the coverage selected (deductible, limit, covered perils), the usage of the car (commute to work or not, annual distance driven), and the profile and driving history of the drivers (age, sex, marital status, traffic violations and accidents).
For mandatory liability insurance, in some countries risk factors are taken into account (giving varying prices) and in others a fixed rate is charged regardless of the individual circumstances.


Other Auto Insurance information


Flat rat

Several car insurance plans charge a flat rate regardless of how much the car is used.Reasonable estimationSeveral car insurance plans relies on a reasonable estimation of the average annual distance expected to be driven which is provided by the insured. This benefits drivers who drive their cars infrequently.Odometer-based systemsCents Per Mile Now (http://www.centspermilenow.org/) advocates a car insurance pricing scheme based on odometer readings. The policyholder would purchase insurance to cover a certain number of miles driven. The beginning and ending odometer readings would then be printed on the insurance card, so that in the event of a traffic stop, an officer could easily verify that the insurance is current.Critics point out the possibility of cheating the system by odometer tampering. Although the newer electronic odometers are difficult to roll back, they can still be defeated by disconnecting the odometer wires and reconnecting them later.GPS-based systemIn 1998, Progressive Insurance started a pilot program in Texas in which volunteers installed a GPS-based technology called Autograph in exchange for a discount. The device tracked their driving behavior and reported the results via cellular phone to the company[1] (http://info.insure.com/auto/progressive700.html). Policyholders were reportedly more upset about having to pay for the expensive device than they were over privacy concerns [2] (http://www.aftermarketbusiness.com/aftermarketbusiness/article/articleDetail.jsp?id=124842).OBDII-based systemIn 2004, the company launched another pilot program to allow policyholders to earn a discount on their premiums by consenting to use its TripSense device. TripSense connects to a car's OnBoard Diagnostic(OBDII) port, which exists in all cars built after 1996. The discount is forfeited if the device is disconnected for a significant amount of time[3] (http://news.minnesota.publicradio.org/features/2004/08/23_scheckt_autochip/).According to Progressive[4] (https://tripsense.progressive.com/about.aspx?Page=HowDeviceWorks), the TripSense device records:* Start time* End time* Miles driven* Duration* Number of aggressive braking events* Number of aggressive acceleration events* Speed at 10-second intervals* Time and date of each connection/disconnection to the OBDII port.


Auto Insurance



By buying auto insurance, depending on the type of coverage purchased, the consumer may be protected against:* The cost of repairing the vehicle following an accident

* The cost of purchasing a new vehicle if it is stolen or damaged beyond economic repair* Legal liability claims against the driver or owner of the vehicle following the vehicle causing damage or injury to a third party.Liability insurance covers only the last point, while comprehensive insurance covers all three. Even comprehensive insurance, however, doesn't fully cover the risk associated with buying a new car. Due to the sharp decline in value immediately following purchase, there is generally a period in which the remaining car payments exceed the compensation the insurer will pay for a "totaled" (destroyed, or written-off) vehicle. In some countries including New Zealand and Australia market structures mean that people are more likely to buy a nearly new car than a new car so this is less of a problem.