Car Maintenance You Shouldn't Try at Home

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Car Maintenance You Shouldn't Try at Home

In a troubled economy, many people look for ways to cut costs by doing household tasks themselves. Some automotive jobs can be done fairly easily at home, particularly if you know something about cars. However, taking on the wrong job on your own will only cost you more time, stress and money in the long run. My name is Jill, and I want to tell you about which car maintenance tasks you can safely tackle on your own and which really do require some help from a pro. I'll break down the needs of a typical car and tell you exactly why you might need to ask for help sometimes.

What You Need To Know About Buying A Car With Bad Credit

Many people assume that because they have bad credit, they can't purchase a car through a dealership. Yes, if your credit isn't perfect, obtaining a car loan can be difficult, but it isn't impossible. As long as you know what to expect and where to look, you can finance a vehicle that fits your family's needs.

Purchase From A Buy-Here-Pay-Here Car Lot

Many people have a bad impression of buy-here-pay-here car lots. However, many buy-here-pay-here lots sell really nice cars that run well. In fact, you can even find buy-here-pay-here lots that offer warranties on the vehicles that they sell and have on-site mechanics to complete any repair work needed. When you purchase a car from a buy-here-pay-here car lot, you should expect to make lower car payments more frequently. Many lots will automatically deduct your car payments on your payday to help you keep your loan up to date.

Be Realistic

You don't need to have excellent credit to finance a car. You can finance a car through lenders that handle bad credit auto loans or purchase a car through a buy-here-pay-here car lot. However, the terms of your loan will most likely include a fairly high interest rate. A higher interest rate is often applied to loans that are a higher risk. Unfortunately, a higher interest rate also means a higher payment, so it's important to review your finances before you begin shopping for a car. If you don't have a large budget to work with, don't expect to purchase an extremely expensive vehicle and have a low payment.

Increase Your Down Payment

Putting a larger down payment on your vehicle decreases the amount of your monthly payment. Also, if you're trying to purchase a vehicle from a buy-here-pay-here car lot, a larger down payment could help you lock in a lower interest rate. Some companies offer a lower interest rate to customers with larger down payments because it decreases the loan-to-value ratio, which lowers the company's overall risk. Keep in mind, while making a larger down payment can benefit you in the long run, it's not a good idea to completely deplete your savings. You should keep enough money to help you cover any unexpected expenses.

Financing a car with less-than-perfect credit isn't always an easy task. You can't simply walk into any dealership in the city and purchase whatever car you want. However, you do have options. As long as you're realistic about what you can afford, there's a good chance that you can find a vehicle that you want and a company that will finance it, especially if you purchase your car at a local buy-here-pay-here car lot.

Check out Autobank of Kansas City for more information.