Tackling Major Car Shopping Decisions

If you are in the market for a vehicle, you have likely already figured out that there are far more decisions to make than which vehicle to purchase. Here we examine some of the major decisions that confront car shoppers, as well as advice on how to address them.

-New or used? Though the prospect of owning a brand new vehicle that has traveled only a few miles in its lifetime may sound intriguing, many people find that they can get a better value by purchasing a pre-owned vehicle. New vehicles depreciate significantly the moment they leave the dealership, so a portion of the hefty retail price you are probably yet to pay immediately goes down the drain. With the advent of companies such as CARFAX, great quality used vehicles are becoming easier to distinguish from damaged or troublesome ones. A CARFAX report will give you important insight into the background of any vehicle, and good used car dealerships will provide you with a CARFAX report on any of their vehicles at no cost to you. If you can only afford a low end, basic but brand new vehicle, you will probably be far more satisfied in the long run with slightly used, low mileage vehicle with all the bells and whistles for the same price or better.

-How should I pay for the vehicle? The method of payment you choose to use in paying for your vehicle depends largely upon your individual financial situation. However, most people choose to obtain loans for vehicle purchases, and pay off the balance in regular intervals over time. Financing a vehicle purchase is a great way to make a vehicle more affordable, and can help improve your credit score when done correctly. If you choose to finance your vehicle through a dealership, ensure that the dealership offers in-house financing and reports to at least one of the credit bureaus. Following this advice and making timely payments on your loan can help you not only afford the vehicle you want, but improve your credit score in the process.

-What kind of vehicle should I choose? The multitude of vehicle models and options can leave your head spinning at first glance. By considering your lifestyle and what benefits you expect to get from your vehicle, you will narrow down the options significantly and begin to see that select types of vehicles fit your criteria. Make an honest assessment of your requirements, and differentiate between what you must have and what you would like to have. If you have three young children, having enough seating for car seats and space to store strollers and luggage is a requirement. But a red SUV with an automatic sunroof and steering wheel radio controls probably falls into the category of what you would like to have. Of course, you should seek out a vehicle that will leave you satisfied with the way you have spent your hard earned money, but the perfect vehicle usually requires some degree of trade off when it comes to accessories, options and colors.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading Austin used car dealer. For more information please visit Greg Chapman Motors.

Improve your Credit Score through your Vehicle Purchase

Your FICO credit score is a numerical value calculated based on your debt and repayment history, which lenders use to get an impression of your propensity to responsibly handle your liabilities. The range in which your credit score falls affects whether lenders will approve you for loans and at what interest rate. Your credit score has an enormous impact on your financial future, and the sooner you begin actively improving it, the more financial options you will enjoy throughout the rest of your lifetime.

Purchasing a used vehicle presents the perfect opportunity to work on raising your credit score, if you obtain your loan from the right lender and manage your debt sensibly. You can easily raise your score through your vehicle purchase by ensuring that your lender reports to at least one of the credit bureaus. Making timely payments on accounts is a major factor in the calculation of your credit score, and if your lender reports that you make payments as agreed, your score will improve. Just be sure to pay all of your other expenses on time as well, without incurring excessive additional debt. It is important to analyze your budget before obtaining a loan to ensure that you will be able to make your loan payment on time each month.

When you apply for a loan through an establishment such as a bank, the lender pulls your credit score during the application process. Even if you are not approved for the loan, multiple such inquiries to your credit negatively affect your credit score. If you finance your loan through a dealership that outsources loans to a bank or other financial institution, multiple inquiries will likely be made on your credit, hurting your score. Selecting a dealership that provides true in house financing can help avoid the possibility of multiple inquiries being made and harming your credit score. Avoiding such a middle man type lending hierarchy can also mean that your loan will cost you less money in the long run.

If you, like many people, have less than great credit, you can still obtain a loan that sets you on your way to better credit. Applying for financing at multiple dealerships is a bad idea, again because of the multiple inquiries to your credit. If you already know that you have a low credit score, deal directly with a used car dealership which specializes in bad credit financing, and be sure to verify that the financing is in house and that your status will be reported to a credit bureau.

Though it takes time, building a better credit score is easier than you may have thought. Take advantage of the opportunity to improve your credit score as you make your vehicle purchase, and improve your financial outlook for the future.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading Austin used car dealer. For more information please visit Greg Chapman Motors.

Safe Habits for Driving in the Rain

While most of us would prefer to simply stay dry inside our homes until rain subsides, responsibilities such as going to work require that we endure the wet weather nonetheless, putting us at the mercy of wet roads and the questionable skills of countless other drivers. Depending on the frequency of rainfall in the area in which you live, other drivers may not be accustomed to practicing safe driving habits in the rain, making it even more important for you to take extra precautions in wet driving conditions.

An essential precaution for driving in the rain is to regularly maintain the tires, brakes, and windshield wipers of your vehicle. Brakes should be regularly replaced regardless of the weather, but proper brake function proves to be especially crucial under wet conditions. Likewise, tires should maintain the recommended level of pressure and tread depth for maximum performance. Tires which are beginning to wear out are truly a hazard in the rain, even when they still seem to function properly on dry roads. Improper tire inflation or inadequate tread can lead your vehicle to hydroplane on a wet road, causing you to lose control of the vehicle.

On rainy days, make sure to allow extra travel time to reach your destination. Safely driving in the rain not only means reducing your speed, but also requires you to remain calm and in control, which can be difficult when you are anxious about being late. When you start your vehicle, turn on the headlights, even if there is only a slight rain.

As you are aware, wet roads are more slippery than dry ones. Rainwater on roads reduces vehicles’ traction, which makes slowing down, stopping and accelerating accurately more difficult. The key to maintaining control of your vehicle on a wet road is to perform all maneuvers conscientiously and gradually. When slowing down or approaching a stop, begin braking far in advance, and do not brake sharply or attempt an abrupt stop. Stopping or accelerating too quickly can cause your vehicle to skid, which can lead to a loss of control. Braking far in advance allows you to prepare for unexpected hazards, and informs other drivers of your intent.

Speaking of other drivers, staying alert to the conditions around you and signaling your intent to other drivers is crucial to safe driving in the rain. Maintain extra distance between your vehicle and the one ahead of you at all times, taking care to allow enough space to bring your vehicle to a stop in the event that an unexpected obstacle appears or an accident occurs ahead. In addition to providing plenty of warning that you are stopping or slowing down, be especially meticulous about using turn signals in advance when it is raining. Turn signals warn drivers behind you that you will be slowing down or stopping completely, and they will need ample space to do so under wet conditions.

Staying alert to your surroundings, being considerate of other drivers and practicing cautious driving maneuvers in the rain can help prevent an accident that leaves you on the side of the road stranded…and soaked.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading Austin used car dealer the area has depended on since 1959. For more information please visit Greg Chapman Motors.

Car Maintenance 101: Replacing an Air Filter

The air filter is a crucial yet often overlooked component of a vehicle. Replacing a vehicle’s air filter on a regular basis is an important part of keeping the engine running to its potential. If you have had your vehicle’s oil changed at the typical quick oil change service station, you may have been told by a technician that your air filter needed to be replaced, a service which of course incurs an additional cost. Such offers lead many people to wonder, does my vehicle really need this service, or does the station really want my money? Maybe both, but paying a premium for such a simple task is unnecessary. Even if you do not know the first thing about working on vehicles, you can easily replace your air filter with minimal money and time.

First, why is an air filter so important? A vehicle’s engine takes in air, mixes it with gas and compresses the mixture inside its cylinders. As the mixture is compressed to its densest point, it is ignited by a spark plug, firing the pistons down into the cylinders. When all of the components are functioning as they should, this process makes the driveshaft propel the vehicle down the road. Efficient vehicle performance requires a precise mixture of air and gas, and the air filter is responsible for removing unwanted particles such as dirt, bugs and other debris from the air before it enters the engine. A dirty, clogged air filter can affect the life of the engine and result in sub par vehicle performance and decreased fuel economy, costing you money in the long run.

Changing the air filter in your vehicle likely requires nothing more than a standard screwdriver, and maybe not even that! Before you begin, make sure the engine has cooled if you have driven the vehicle recently. Locate the air filter, which is in a black plastic encasement, usually near the top of the engine but possibly to the side. Next, open the case, which may be attached by clips or screws, depending on the vehicle. Before you remove your used air filter, observe the way it is positioned and secured to make inserting the new filter simpler. Air filters vary, but typically consist of a pleated paper center with a synthetic material gasket for sealing. As you place the new air filter in the same position as the one you removed, ensure that you press the gasket on the filter securely into the groove for which it is designed. Then, close the plastic case securely, and you are done. If the case will not close, the air filter has not been inserted properly and should be reexamined.

Replacing your air filter yourself takes only a few minutes, but saves you money and improves the performance of your vehicle.

About the Author: Greg Chapman, of Greg Chapman Motors, is a leading Austin used car dealer. For more information please visit Greg Chapman Motors.