Save Money on Your Car Insurance!

Get an Auto Loan the Smart Way

by: Joel Walsh

Did you know that most people pay hundreds or thousands of dollars more on auto loans than they have to? Get an auto loan the smart way. Read on.



Most people really get taken for a ride on their auto loan. Did you know that differences in the total cost of different auto loans can run into a thousand dollars or more? Here�s how you can get the lowest rate:

*

Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer (the web is usually the easiest way to do that). Did you know dealers get a commission on the loans they refer? If you�re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.

*

Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal. Knowing exactly what your score is will help you figure out what interest rate you can realistically get.

*

Have bad credit? Try going to your credit union, bank or another institution where you have a relationship. Lenders like to help out established customers. If your bank still won�t help, online "bad credit auto loan" lenders usually offer better less expensive loans than dealers who advertise their great deals for people with poor credit.

*

Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can�t afford, makes you aware of what information you�ll need to apply for a loan, and is a "reality check" of your financial condition.

*

Comparison shop, comparison shop, comparison shop. You don�t get the least expensive car by choosing a dealer at random, and you won�t get the least expensive auto loan that way, either.

Start researching your options now:

Get credit reports and FICO scores here:

Use this vehicle loan calculator:

Comparison shop among these lenders:

Auto insurance, reduce costs but maintain protection

by: Drew Harris

Auto insurance is a legal requirement in every US state and Canadian province. Costs are continuing to rise. How can you reduce some of these expenses and still get the best coverage?

First, get multiple quotes from the Internet and your neighborhood broker. You can shop for different types of quotes from a direct-sell insurance companies and offline and online brokers.

Auto insurance that is cheapest isn�t always the smartest move. Ask yourself, is the company financially secure? Are they reputable and will they pay out if you have to make a claim.

The first piece of the policy is almost always liability insurance. If you only have minimum liability coverage and you injure someone, their attorney can go after your personal assets. Many insurers feel that minimum liability is a gamble. In fact, that is why it is often only a little more money for more protection.

Auto insurance varies on car types. Coverage for a sports car is very different from insuring the family sedan or mini-van.

If you are looking to buy a car, consider buying a car that "looks good" to insurance companies. For instance, insurance companies know what kinds of cars are prone to problems. They also know what kinds of cars are most often stolen. If you haven't purchased your car yet, find out what cars make this "good list" among auto insurers.

Consider how much coverage you really need to buy and the price each of these coverages will pay. Think about collision and comprehensive coverage, which is how much you will be reimbursed for the loss or destruction of your vehicle. Are you carrying $30,000 worth of collision coverage for a $12,000 vehicle?

If your car was totaled, would you be able to afford to replace it? If not, you will want comprehensive and collision coverage.

The decision to buy this coverage is usually based on the value of your car. Guidelines usually suggest that if your car is worth less than $2,000, it won't be worth it to buy comprehensive and collision.

If you own a $50,000 car though, it would most certainly be worth it to pay an extra $200 annually or so to insure that your car will be replaced if you get in a serious accident.

If you�re driving a used car from 10 years ago, dropping collision and/or comprehensive coverage can usually give big savings.

Run through various scenarios such as if I totaled someone else's car, will my insurance cover it? How much will I have to pay out of my own pocket?

Paying a higher deductible can also keep your policy costs down. Remember, the deductible is what you pay out of own pocket when making a claim.

Buying a low mileage car and insuring with a good driving record, will all help bring insurance rates down. Don�t speed, don�t drink and drive and you�ll save.

Single, young males under the age of 25 get the short end of the stick in this deal so if you fall into this category make up for this price increase by purchasing a more sensible vehicle. Consider delaying the purchase of that cherry red Mustang until after you�re 26 and married.

Keep yourself adequately covered. You can get away with having the bare minimums required by each state to keep you in compliance with state laws, but that may not be enough to protect your assets if you have a major incident.

Insurance experts recommend that you review your insurance policy often and thoroughly.

Many insurance companies offer discounts for anti-theft devices and advanced driver-training courses.