Whether you buy or lease, save money on the deal with tips from IHateFinancialPlanning.com

(ARA) - For many Americans, a car is the second largest purchase they make. Advertisers devote millions of dollars to convince us that we deserve to own the hottest set of wheels. The same people who used to yell, “I want my MTV!” are now shouting, “I want my SUV!”

But step inside a dealership, and confident car shoppers are like deer in headlights when confronted by aggressive sales people, confusing financing decisions and a fear of buying more than they can afford.

IHateFinancialPlanning.com, the Web site for the three out of four Americans who hate financial planning, can help sort out the financial aspects of buying and leasing cars. While you crave an SUV, you may discover that the cost of insuring it and filling its huge gas tank will blow your budget off the road.

IHFP offers the following tips to make sure you don’t get caught in the headlights:

Get Your Records Straight

One of the first steps in financing a car is to get a grip on your credit rating. Unless you intend to pay with cash, you will have no secrets from the car dealership, finance company or auto insurer. A poor credit history can result in a higher interest rate or even loan disqualification. Also, bad marks on your credit could flag you as an insurance risk, translating into higher premiums.

“There are numerous resources available to help you understand and manage car financing,” says Suzanne Hunstad, of IHateFinancialPlanning.com. “Armed with knowledge, you can determine if your loan will be approved, and at what interest rate, and also catch any glitches that could be making your credit history look worse than it is.” Hunstad suggests contacting the major credit reporting agencies to obtain your credit report and taking steps to clean it up if necessary.

Cut Your Premiums Down To Size

Before you buy a car, find out what it will cost to insure it. Get car insurance quotes and calculate your insurance needs on the Internet. Each state has different requirements when it comes to auto insurance, and we’ll leave it up to you to learn what your state requires. But every state has some sort of financial responsibility law that says you need to take care of any accidents you might have.

To Buy Or Lease, That Is The Question

When you lease, you’re paying to use a car. Your payments cover the cost of the vehicle’s depreciation while you drive it, rather than its purchase price. If driving a new car is more important to your lifestyle than owning one, leasing is definitely for you. However, if you put a lot of miles on a car every year, it may end up being smarter for you to buy. Consider your personal expectations and financial situation when reviewing the pros and cons of each:

Buying Offers:

• A chance to trade in that old clunker.

• Ownership and equity in the car.

• Control of your wheels. If you want to add eight speakers or take out the backseat, go ahead.

• No penalties if you don’t hold up your end of the maintenance agreement, although you will want to service your car to enhance both its service to you and your ability to sell it in the future.

• No mileage limits.

• Payments based on the value of the car, not its depreciation. That may mean higher monthly payments than with a lease.

Leasing Offers:

• A cost-effective alternative to buying a car every few years.

• An affordable way to drive a car that you may not be able to afford to buy. Monthly lease payments are generally less than financing payments.

• A maintenance contract that requires you to keep the car in good shape and not make any alterations to it.

• A factory warranty that almost always covers the car for your entire lease, so major maintenance isn’t your financial responsibility.

• Annual mileage limits (about 12,000 to 15,000) with significant penalties if you put more miles on it than the lease stipulates.

• Payments that may be income tax deductible if you’re leasing the car for business. Ask a tax advisor for details.

• Penalties if you terminate the lease earlier than agreed. Charges vary.

Financing Is The Next Step

Whether you buy or lease, be prepared to walk away from the deal if you aren’t convinced you’re being offered a fair price. Do some homework before you walk in — car salespeople are amateur psychologists who’ll get inside your head if you let them, all in the name of making a buck.

“If they see you drool over a leather interior or if you don’t know the Kelley Blue Book value of your trade, they’ve got you right where they want you,” Hunstad says. The Internet is a good resource for your research. Use Edmunds.com to comparison-shop and find each model’s true market value, i.e. the price of the car in your area. It’s usually a different number than either the invoice price (what the dealer paid) or the sticker price (what the dealer wants you to pay).

Once you’ve got those numbers down, try IHateFinancialPlanning.com’s loan calculator to help you compare interest rates, monthly payments and overall purchase price. Don’t get emotionally attached to your car salesperson or the loan officer at the car store. Keep this a business decision. Shop for the best interest rate at your local bank or credit union, or use online banking to comparison shop.

About The Author

Courtesy of ARA Content, www.ARAcontent.com; e-mail: info@ARAcontent.com

EDITOR’S NOTE: For More Information, contact Maclaren Latta, Carmichael Lynch Spong, (612) 375-8570, mlatta@clynch.com.

About IHateFinancialPlanning.com

IHateFinancialPlanning.com is a Web site that’s already helped more than 2.3 million people who hate financial planning make sense of their personal finances through fun, friendly, easy-to-understand content and financial planning tools. The Web site was developed by ReliaStar Financial Corp., a member of the ING Group.

About ING Group

ING Group is a global financial institution active in the fields of insurance, banking and asset management, with more than 100,000 employees in 65 countries. ING provides a full range of integrated financial services for its clients through a variety of distribution channels. In the United States, ING’s product and service portfolio includes banking, fixed and variable annuities, investment management, life insurance, mutual funds, personal finance education seminars, and trust services. For employers, ING businesses also offer a full range of retirement and other worksite benefits, including group insurance products. For more information, visit www.ing-usa.com.

Securities available through PrimeVest Financial Services, Inc., Member NASD/SIPC. Carmichael Lynch Spong is not affiliated with PrimeVest Financial Services, INC. and is not a member of the ING Group.

Technorati Tags: automotive, autocare, auto care, car care, auto repair

There are an estimated 300,000 casualties from road accidents every year in the UK and knowing some First Aid could help save a life. Carrying a First Aid kit in a car or on a motorcycle is highly recommended, so that there is basic equipment available should there be an accident.

It must be stressed that there is no comparison to going on a First Aid training course, and that the following advice must be taken in that context. www.sja.org.uk is the St John’s Ambulance website where more information about going on a First Aid course can be found.

These are some basic tips to help in a road accident situation in which there is a casualty:

1. Make sure the area is safe It is important to make sure that there is no further danger at the scene of the road accident. Ensure that approaching cars are aware of the hazard and turn off the ignitions of the vehicles involved. Ask a bystander (if there are any) to call the emergency services as soon as possible.

Take a few moments to view the site of the car accident and to look at the casualty to see what kinds of injuries are likely to have been sustained. If it is possible that the casualty has suffered trauma, and may have broken bones, head injuries, neck injuries, or internal injuries, it is essential that they are not moved.

2. Check if the casualty is conscious See if the road accident casualty is conscious or unconscious by tapping them on their collarbone and shouting to them. If they are unable to talk, ask if they can open their eyes.

If the casualty is a motorcyclist, do not remove the helmet, whether the casualty is conscious or not. Helmet removal must only be carried out by trained medics because if it is done wrongly, it can cause additional injuries.

3. Check the casualty’s airway First aid authorities recommend the following action to check and clear a casualty’s airway. To check if it is clear, place a hand on their forehead, and gently tilt the head back. Look in their mouth to see if there is any visible obstruction, such as their tongue having fallen back into their throat. Once this is done this, lift their chin using 2 fingers. This helps the airway to clear.

If the casualty has broken bones or other trauma, such as neck or back injuries, avoid moving their head at all, just raise the chin.

20% of the fatalities on Britain’s roads are caused by obstruction of the airway, so making sure it is clear is a priority. If unsure how to go about it, check if any of the bystanders have First Aid knowledge, or speak to the emergency services operator.

4. Check the casualty’s breathing It is useful to be able to tell the emergency services whether the casualty is breathing or not, and this can be done by:

- Listening to the mouth for sounds of breathing

- Feeling for breathing by placing your cheek over the mouth

- Watching the chest for signs of rising and falling

5. Symptoms and treatment of shock A road accident casualty who has gone into shock shows symptoms such as cold, clammy skin, rapid and shallow breathing, thirst, and a rapid, weak pulse. Shock is caused by loss of blood, and means that oxygen is not travelling around the body properly.

To help slow down shock until medical assistance arrives, try to keep the person warm with coats or blankets, reassure them, and, if possible, get them to lie on the ground with their legs raised. Slowing the loss of blood is something you may be able to do if it is caused by an external wound, but not if the blood is being lost internally.

6. Slowing an external loss of blood Wear disposable gloves if possible, and look and feel for blood on and under the casualty. To staunch a bleeding wound that has nothing embedded in it, apply direct pressure to it. Ideally use a dressing, but if a dressing is not available then your hand should be sufficient. If there is something in the wound that should not be there, such as glass for example, do not apply direct pressure to it, but press it together from the sides.

A First Aid course will teach these skills in a lot more detail, as well as teaching additional skills such as CPR (cardio-pulmonary resuscitation). Learning what to do for casualties in a road accident is something that could save lives, and a short course with a First Aid authority is highly recommended.

If you or a loved one have been injured in a road accident and are considering a personal injury claim, George Ide, Phillips may be able to help you. For free advice on claiming compensation, go to www.accident-compensation-solicitor-uk.co.uk or call on 0808 144 0043.
About the Author

Editorial notes: George Ide, Phillips provides no fee, no cost access to personal injury compensation and have specialists in road accident claims. If you have been injured in a road accident that was not your fault, go to www.accident-compensation-solicitor-uk.co.uk or call 0808 144 0043 for free legal advice.

Author: Alexandra Gubbins. For more information, please visit www.accident-compensation-solicitor-uk.co.uk or call 0808 144 0043.

Technorati Tags: automotive, autocare, auto care, car care, auto repair

Getting a good auto loan rate is not luck, but rather a skill that you must learn. There are good auto loan rates available if you know the tricks of the trade and how to negotiate to get the best deal for you. Remember, you should not be afraid or nervous when trying to negotiate your auto loan because you will be saving yourself money. That should give you the courage to try and get the best auto loan rate available. Follow these suggestions as well to guide you in buying a new care and negotiating your auto loan interest rate.

Auto Loan Tip #1 Buy at the End of the Month

Frequently car dealerships have contests and the winner of the contest gets a good prize, whether it is monetary or physical. Generally, theses contests are a month long, so by the end of the month the salesman are crazy to make a sale regardless the price. So, you will be able to negotiate a better price on your vehicle during these types of competitions. The lower the cost of your vehicle, the better terms you might be able to get for your auto loan.

Auto Loan Tip #2 Have Good Credit

Now this might seem obvious to you, but everyone is not aware how their credit will affect their auto loan rate. If you have great credit, go buy a car whenever you want because you have grounds to negotiate an auto loan on. If you have bad credit, work on rebuilding your credit for several months and then try to get an auto loan. This effort alone will help you in more areas than just your auto loan rates.

Auto Loan Tip #3 Negotiate Your Auto Loan

When talking to an auto loan lender don t divulge how much money you can spend per month on your auto loan. If you throw out the highest number then this will be the starting point and exactly what you want to avoid. Instead, negotiate with the lender, know your limits however and that there are other car dealers and lenders out there. You never should accept a first offer without trying to get a better deal.

About The Author

Jay Moncliff is the founder of http://www.loans-center.info a blog focusing on the latest Auto Loans news, resources and articles. This site provides detailed information on auto loans. For more info on loans visit: http://www.loans-center.info.

Technorati Tags: automotive, autocare, auto care, car care, auto repair