Financing Your Next Auto Purchase

Unless you have the cash to make your next auto purchase, it is most likely that you will have to finance it. When financing, there are several options available to you depending on your credit score, the amount you need to finance and even the type and amount of miles on the vehicle.

Looking at your financing before auto shopping may help you determine how much you can afford. Many dealerships deal directly with lending institutions and can help you pre-arrange financial approval. With preapproval you will have knowledge as to what your monthly payments will be, your interest rate, and repayment terms. The advantage of a direct loan is that you have already been approved for automobile financing and know the maximum amount of your loan plus repayment terms. The disadvantage is that you may not be able to take advantage of special automobile financing offers by the dealer.

So how do you qualify for the most credit before applying? A lending institute will look at many things to qualify you for a purchase. The first thing looked at will be your credit report. Within your credit report is all information regarding your past and current loans along with your other debts. Credit reports include your payment history - whether you paid for things on time or late. Your credit report will show how many loans you have taken out, how many you repaid in full, how much credit you have with other creditors as well as how much credit you have already used. All of these factors will provide the lender with a credit score. Your credit score will then determine not only how much you can borrow but at what interest rate. The lower your score, the less amount of money you can borrow and the higher the interest rate. The higher your credit score, the more you can borrow and at a better rate.

If you discover that your credit score is poor and you are unable to borrow at a decent rate, you can add a co-signer to your loan. A co-signer will be equally liable for the entire loan amount. Essentially, if you fail to repay the automobile loan as agreed, responsibility for repayment will then be that of the co-signer. Because of this, co-signers are typically family members or somebody who trusts you.

What are the other factors lenders look at beyond your credit score? Your income level is of great importance to lenders. Lenders want to evaluate your capacity to repay your loan and make your monthly payments. Your income is then compared to your expenses. The lender will ask you if you own or rent your home, what your payments are, what your bills add up to, and how much you have saved. You can do this ahead of time to better determine what you can afford each month. Add up all of your fixed monthly expenses such as rent, mortgage, utilities, credit card fees, etc. Subtract from that your net income. Then subtract out other expenses such as food, gas, entertainment and such. The result is the amount of money you have to play with. A good rule of thumb is that you can spend 20 percent of your net income for a car payment.

The next thing to remember when borrowing money is that you are not just borrowing the amount of money for the cost of the car. There are other fees as well that include licensing, registration and taxes. Second, the true cost of owning a vehicle is more than your monthly payment. Remember that you still have to pay for the vehicle's insurance, gas and maintenance.

Once you have determined what you can afford, you can now go out and buy that car you have been dreaming of.

Greg Chapman of Greg Chapman Motors is a knowledgable and leading provider of used cars, trucks, and SUV’s. Since 1959, Chapman motors has supplied reliable used car Austin and the surrounding area. For more information please visit http://www.gregchapmanmotors.com.

SUTs versus Full Sized Trucks

If you spend a lot of time on the road, you may have noticed that there are a lot of trucks in Austin, TX and surrounding areas. Having a large vehicle can be necessary if you live in a rural area such as the surrounding hill country of Austin. A new style of trucks that a lot of people are driving is called a sport utility truck or SUT. An SUT has the luxury of an SUV, but some of the functionality of a full sized truck. Depending on what your needs are for a large vehicle or a truck will determine which one will offer more benefits and advantages for your driving needs.

There are different sport utility trucks that you can choose from. A lot of car makers ranging from Hummer, Chevrolet, and Cadillac make an SUT model. If you prefer luxury over functionality then an SUT may be exactly what you are looking for. A sport utility truck has the look and feel of a full sized truck but offers the comfort and luxury of an SUV or large car. In summary, it is an SUV with an open cargo container. An SUT is still capable of off roading and hauling, but does not have the same large pickup bed size as a truck. A great off road vehicle that can withstand any terrain is the model made by Hummer.

If you need or require the day to day functionality for a working truck then a full sized truck may be more appropriate. A full sized truck is still very comfortable but is not as glamorous or luxurious as an SUT. The pickup bed is larger and better for hauling and heavy duty work. For example, if you work in construction this would be a better choice because you would require the functionality and practicality over luxury. Full sized trucks have great towing capabilities too. In some cases, there is more cab room inside of a large truck than there is in a sport utility truck.

Both types of trucks have a lot of functions and capabilities. They are great for on road and off road driving. If you do not need the space of a full sized truck, then you may appreciate the glamour, comfort, and luxury of an SUT. Other drivers may prefer the original make and functionality of a truck. You can always contact an Austin used cars dealer to test drive their selection of trucks. It is better to make a choice based on your needs or wants for a vehicle. Texas does have a lot of trucks on the road but there is always room for a sport utility truck too.

About the Author: Greg Chapman of Greg Chapman Motors is a knowledgeable and leading provider of used cars, trucks, and SUV’s. Since 1959, Chapman motors has supplied reliable Austin used cars and is known as one of the best used cars austin dealers. For more information please visit http://www.gregchapmanmotors.com.

Leather or Cloth Car Seats?

You may be in the market for purchasing a vehicle. There are so many things to consider and a lot of research should be done before making your final purchase. Some factors you may consider are: do you want a car or a truck or an SUV, new or used, black or blue, leather or cloth, and many more factors. Some people prefer to be an impulse shopper, but when it comes to automobiles you should take the time to research your purchase. Used car dealers are great resources and do not be afraid to ask questions from your dealer.

Once you have narrowed down your choices, you should then decide on the interior you want for your vehicle. One interior may be better in certain climates, and one may be beneficial for your needs. Fortunately, this choice does not have to be too time consuming because your choices are leather or cloth. Here are some of the advantages of each to help you in making your decision. You can weigh out the advantages of each and see which interior will best suit your needs.

Cloth interior is less expensive than leather, and for a shopper on a budget this would be the way to go. Another advantage of choosing this interior is that it can be more comfortable, especially for kids. Young kids often fall asleep in car rides, and the cloth interior is comfortable to sleep on. The interior absorbs sweat and will not make you perspire. If you live in a really hot climate this will be advantageous for you especially if you do not like to sweat. Another great advantage of cloth interior is that the temperature of your car seats will not be extremely hot or cold. The cloth holds the same temperature.

On the other hand, a lot of people prefer a leather interior. If you are buying a Austin used cars, this interior can increase the value of your vehicle. Leather has more of a luxurious appearance and is very comfortable to sit on. Another great advantage is that it is very easy to clean. Liquid cannot be absorbed into the material and you will not have to worry about your car or truck smelling bad. You can even purchase leather interior treatment products from your car dealer. Because leather does not absorb odors, the smell of your car will always be good.

There are advantages with both types of interiors. The type you choose should be about your personal preferences. After looking at the benefits of both interiors, you should be able to make a choice that is best for you and your driving needs.

About the Author: Greg Chapman of Greg Chapman Motors is a knowledgeable and leading provider of used cars, trucks, and SUV’s. Since 1959, Chapman motors has supplied reliable Austin used cars and is known as one of the best used cars austin dealers. For more information please visit http://www.gregchapmanmotors.com.

Personalizing Your Car

You have just purchased your next vehicle. Now you want to make it your own. What are the ways you can do this? There are many, depending on your taste, style and need. Here are just a few:

1. Tires - Changing out your rims or increasing the size of your tires can change the look of your vehicle significantly. If you are looking to 'upstep' your vehicle, you can do this by increasing your wheel's diameter. Then there are the rims. Rims come in everything from aluminum to alloy. They also vary greatly in price, depending on what you are looking for and how much you can spend, but the change will most certainly be recognizable.
2. Pinstriping and Graphics - People have been adding pinstripes and graphics to their vehicles for years. It is one of the most unique ways you can add flare to your vehicle and it sets off your vehicle. Pinstriping and graphics are also cheaper than painting your car.
3. Grilles and Body Kits - Vehicles come with what is called a factory grille, but to express yourself a little more, you can have your grille customized. Body kits also can give your vehicle a new look as well as change its aerodynamics. Kits can include front bumpers, rear bumpers, side skirts and spoilers. You can lower your car, change its weight distribution or change its look.
4. Windows - Tinting your windows can give your vehicle a new look and help provide a little relief from the sun. Tints come in different colors and shades - but check your local laws to make sure you are within its limits, as some areas do not allow particular tints.
5. Audio - The most favorite change of all, changing out your stereo system. Today's audio systems are more sophisticated than ever, playing music from your iPod or MP3 player as well as your CDs. Not only can you change out your system, but also the speakers and amplifiers as well. The possibilities are almost endless when it comes to upgrading the sound system in your vehicle.
6. Video - Looking for a way to entertain the kids in the back seat? Flat-panel video screens, DVD players, you name it - they have it. You can customize your vehicle with as many DVD players as you can fit these days. They can be installed in the headrest, dash or in a flip down from the ceiling.
7. Lighting - Changing out the lights under your car, around your car and in your car is another option in customizing your vehicle. Many people are installing LED's or Light Emitting Diodes under their car. You can also change the bulbs in the existing lights within your car.
8. Gauges - There are many aftermarket gauge kits that one can purchase to change the appearance of their dashboard. Some of these kits include ways to change the look of your gauges at night.
9. Seat Covers and Floor Mats - This is the oldest and cheapest way to customize your vehicle. There are numerous choices today in seat covers and floor mats out there. There are even dashboard trim kits, custom shifter knobs and specialized drink holders that you can add to your vehicle. Floor mats and cargo liners will also help you protect your vehicle and keep it looking new.


The ways of individualizing your vehicle to your own tastes are numerous and across the board when it comes to cost. So have fun and enjoy making your vehicle your own.

Greg Chapman of Greg Chapman Motors is a knowledgable and leading provider of used cars, trucks, and SUV’s. Since 1959, Chapman motors has supplied reliable used cars in Austin and the surrounding area. For more information please visit http://www.gregchapmanmotors.com.