The majority of car buyers finance this major purchase. Given the statistics, it’s likely you will be looking at options for car loans when shopping for a vehicle. There are many benefits to purchasing a vehicle with financing. Here are some top advantages to using a loan to purchase your next car.
When you finance a car, you can obtain more vehicle than you may have the cash for. A better car can be safer, more reliable and save on maintenance and repairs. With financing, you make a down payment, then periodic (usually monthly) payments for the duration of the loan. As opposed to paying straight cash for a car, down payments required when obtaining a loan are usually a small percentage of the price being paid for the vehicle.
There is flexibility in terms when financing car. Payments can be made over various lengths of time such as 36, 60 or 72 months. Interest rates that lenders offer are often flexible too, varying with credit score and the desired length of loan. In an economy with low interest rates, your money may be put to better uses than paying cash for a car. Car loans free up that cash so that it may be used for higher interest earning investments, businesses or home purchases.
If you have poor credit or little credit history, financing an automobile may look less attractive. Higher rates are charged to those with low credit scores due to the increased risk to the lender. With a poor credit score, you may need to put down a larger sum of cash in order to keep the payment affordable. However, when you make consistent on time payments, your loan will help improve your credit score over time.
By offering greater flexibility and purchasing power, car loans play a critical part of the automobile purchase process for most.
There’s no need to go to a mechanic for all of your car maintenance needs. You can perform these tried-and-true fixes yourself with things you probably have laying around the house.
Little Effort = Big Savings
Performing routine maintenance on your vehicle is important to keep it running right. But it’s hard to keep up with all of the car maintenance products on the market these days. You could spend a fortune and visit your mechanic monthly, but oftentimes there’s an old-school, DIY solution for your car maintenance needs that will keep it running reliably with minimal time and money spent. Check out this list of car maintenance tricks your grandfather surely knew—and you should, too.
Get More Out of Your Wiper Blades
As wiper blades age, they lose their ability to clear your windshield properly. But with a couple of household products and a little elbow grease, you can help them last longer. Start by cleaning the base of the windshield with some window glass cleaner, just underneath where the wiper blades rest. Then, wet a paper towel with some rubbing alcohol and wipe the blades down until they come clean. You should see a marked difference in how they clear your view.
A Penny for Your Treads
You can’t expect your car to give you a safe ride if the tire treads are too worn down. To quickly check the state of your tire treads, place a penny with Lincoln’s head facing down into the tire tread. If his head stays clearly above the tread, you need to replace your tires.
Clear Up Fogged Headlights with Toothpaste
Over time, the surface of your headlights will oxidize and become foggy or yellowed. You can clean them up with toothpaste, which is a very mild abrasive. First, clean the headlights with soap and water. Then, squeeze some toothpaste onto a soft cloth and rub it into the wet headlight in a circular motion. Keep adding toothpaste and water as needed. Once finished, rinse thoroughly, and dry it with a soft cloth. Apply a headlight sealant for future protection.
Remove Bugs with WD-40
Most people have a can of WD-40 in the garage, as it’s good for so many jobs around the house. But this magic lubricant can also help you remove dried up, dead bugs from the front of your car. Just spray it on the affected areas and let it sit for about ten minutes. Then, with a sponge or soft cloth and a little elbow grease, you can wipe those bugs away much more easily. Afterward, wash your vehicle as usual.
Defrost Your Windshield with Rubbing Alcohol
When winter comes and freezes up your windshield, have a quick fix ready to go. Add one part water and two parts rubbing alcohol (70 percent isopropyl alcohol) to a spray bottle and shake to mix. Spray the solution onto your iced up windshield and the frost and ice will start to break apart and melt.
Bounce Test Your Shocks
Your car’s shocks and struts help to stabilize the vehicle as you drive, keeping you from bouncing down the road as you turn, accelerate, or brake. You can test your shocks with a simple “bounce test.” Stand at the seam of the bumper and push it down. If it bounces back twice or more, then you probably need to replace your shocks or struts.
Test Your Headlights on Your Garage Door
Headlights may become misaligned just the way wheels do. You can quickly assess whether your headlights are properly aligned by parking your car about 25 feet away from a flat vertical wall, like your garage door. If they are shining unevenly, consult a mechanic or your owner’s manual for instructions on realigning them.