Car finance has become one of the basic necessities of the contemporary world. All the daily chores, be it buying grocery to catching up with important business dealings, all become simpler with the aid of a car. The problem arises when you don’t have enough finance. The situation becomes worse if you have a bad credit history. You can be tagged to bad credit due to various reasons such as:
Bankruptcy
Slow credit or No credit
No proof of income
Self-employed status
Individual Voluntary Agreements or IVA’s
County Court Judgments or CCJ’s
Arrears
Defaults
Bad credit can make your financial life a drag. With the growing standard of living, one can barely fulfil basic necessities with his regular income. In the modern world, basic necessities not only include food, home but also a car. This is when bad credit car finance can come to your rescue. Remember, it would be attached with a higher rate of interest, due to a bad credit history.
It can be quite a challenging task to locate suitable car finance with bad credit. Yet with a growing number of bad credit loan providers, your difficult task has eased to a great extent. It is recommended that you should undertake some research before you choose upon bad credit car finance to satiate your needs. You can navigate through the various loan quotes that can help you to pick the right car finance to customize with your personal state of affairs. Loan calculator can aid to evaluate monthly instalments, which can mould to your situation. Loan expertise too, which is offered by many loan providers can enrich your knowledge and put you at the helm of dealings.
Bad credit can no longer deny you to finance your dream car. You can go ahead with car financing either a used or a new car without bothering about a bad credit. With bad credit car finance you can avail benefits such as:
Reinstate your credit standing
Improve chances of better loan opportunities in future
Don’t let bad credit purge your desire to purchase a car. Avail yourself of bad credit car finance and make your dreams a reality.
Monday 31 March 2008
Thursday 27 March 2008
The implications of the recent budget
As you’re on this car finance site, you probably have an interest in vehicles, are a driver or are hoping to become one very soon. As such, there’s no doubt at all that the budget affects you, whether you’re a millionaire or on minimum wage. Let me just say this first - the budget hits you where it hurts.
Once again, us cash-cow drivers with car finance are going to suffer in a number of ways…Fuel Petrol and diesel prices had a planned rise of 2p per litre - however thanks to much industry (and some faceless entities) lobbying, we’ve now seen this put back to October. To me though, this just stinks of ‘stealth tax‘. What I mean by this is that if the government can make everyone calm down or forget about it for long enough, they won’t complain half so much and the coffers will still be filled. Fuel duty also has a guaranteed rise of 0.5p per litre in 2010 - no doubt with more raises in-between, all this on top of your car finance repayments.
Alternative fuel Car finance that aren’t powered by petrol or diesel are on ‘alternative fuel’. Those vehicles could well come in for a discount of up to £20 per year on their road tax. Not great, but better than nothing. Duty differential will disappear from alternative fuel and a Renewable Transport Fuel Obligation will force suppliers (such as Shell) to ensure that 5% of their fuel comes from renewable sources.
Vehicle excise duty/road tax - The number of bands for car finance vehicles will go all the way up to 13 from next year, with band M (255g of cO2 per km) being charged an annual fee of £425 per annum. Vehicles with a lower than 150g output per km will pay a lower rate from 2010 (why not from next year like the higher paying vehicles is anyone’s guess). Vehicles with a lower rate than 130g will not pay road tax in their first year. If this were every year I’d see the point… but just in the single year? Regardless, the most shocking fact is that band M vehicles will receive a massive bill of £950 in the first year.
Funding for more car finance tax - The government has freed up funding for local councils and private companies to investigate the idea of further congestion charges and national road pricing. It’s a great way to essentially fund further taxation I must say, and I’m not quite sure how making people pay more will stop them using the roads that they physically must use.
My overall thoughts on the budget and car finance - Frankly, as per usual, those who drive have been hit where it hurts - their wallets. I’m not surprised, given the fact that more than £45 million is generated for HMRC every year, over and above the car finance. However, as long as the government has the ideal of ‘being green’ to hide behind, people won’t rally behind the injustice of how much we pay for vehicles. The budget is once again unfair and a great way to eke more money out of an unwitting public let alone the car finance.
As a side note, due to the fact that we’re close to recession, this is one good year to buy a used vehicle on car finance. Depreciation is going to be 8% more than expected, so look for car finance in a couple of months to pay a price that’ll keep some change in your pocket.
Once again, us cash-cow drivers with car finance are going to suffer in a number of ways…Fuel Petrol and diesel prices had a planned rise of 2p per litre - however thanks to much industry (and some faceless entities) lobbying, we’ve now seen this put back to October. To me though, this just stinks of ‘stealth tax‘. What I mean by this is that if the government can make everyone calm down or forget about it for long enough, they won’t complain half so much and the coffers will still be filled. Fuel duty also has a guaranteed rise of 0.5p per litre in 2010 - no doubt with more raises in-between, all this on top of your car finance repayments.
Alternative fuel Car finance that aren’t powered by petrol or diesel are on ‘alternative fuel’. Those vehicles could well come in for a discount of up to £20 per year on their road tax. Not great, but better than nothing. Duty differential will disappear from alternative fuel and a Renewable Transport Fuel Obligation will force suppliers (such as Shell) to ensure that 5% of their fuel comes from renewable sources.
Vehicle excise duty/road tax - The number of bands for car finance vehicles will go all the way up to 13 from next year, with band M (255g of cO2 per km) being charged an annual fee of £425 per annum. Vehicles with a lower than 150g output per km will pay a lower rate from 2010 (why not from next year like the higher paying vehicles is anyone’s guess). Vehicles with a lower rate than 130g will not pay road tax in their first year. If this were every year I’d see the point… but just in the single year? Regardless, the most shocking fact is that band M vehicles will receive a massive bill of £950 in the first year.
Funding for more car finance tax - The government has freed up funding for local councils and private companies to investigate the idea of further congestion charges and national road pricing. It’s a great way to essentially fund further taxation I must say, and I’m not quite sure how making people pay more will stop them using the roads that they physically must use.
My overall thoughts on the budget and car finance - Frankly, as per usual, those who drive have been hit where it hurts - their wallets. I’m not surprised, given the fact that more than £45 million is generated for HMRC every year, over and above the car finance. However, as long as the government has the ideal of ‘being green’ to hide behind, people won’t rally behind the injustice of how much we pay for vehicles. The budget is once again unfair and a great way to eke more money out of an unwitting public let alone the car finance.
As a side note, due to the fact that we’re close to recession, this is one good year to buy a used vehicle on car finance. Depreciation is going to be 8% more than expected, so look for car finance in a couple of months to pay a price that’ll keep some change in your pocket.
Thursday 20 March 2008
How to get a better deal from your garage
A car owner’s guide
to servicing and repairs...
Servicing your car will make it last longer. It also makes it safer for you, your passengers and the environment. Here are some tips to help you avoid dodgy garages, get effective work done and achieve good value for a service or a repair of your car. If you have car finance bought from a dealer, the last thing you want is to be paying huge bills as well as your monthly payments for your motor.
START NOW
• Don’t wait until you need a service or repair
• Spend time comparing garages beforehand
• Get your car serviced regularly
• Ask around about good garages
A RELIABLE GARAGE WILL CERTAINLY DO
SOME, OR ALL, OF THE FOLLOWING
• Display a menu of fixed cost works
• Tell you how much they will charge to diagnose a fault if it includes dismantling and putting back together
• Be a member of a trade association (such as the Motor Vehicle Repairers Association)
• Have trained staff and display certificates
• Have an auto complaints procedure
if your looking for car finance check out http://www.infinitycarfinance.co.uk/
to servicing and repairs...
Servicing your car will make it last longer. It also makes it safer for you, your passengers and the environment. Here are some tips to help you avoid dodgy garages, get effective work done and achieve good value for a service or a repair of your car. If you have car finance bought from a dealer, the last thing you want is to be paying huge bills as well as your monthly payments for your motor.
START NOW
• Don’t wait until you need a service or repair
• Spend time comparing garages beforehand
• Get your car serviced regularly
• Ask around about good garages
A RELIABLE GARAGE WILL CERTAINLY DO
SOME, OR ALL, OF THE FOLLOWING
• Display a menu of fixed cost works
• Tell you how much they will charge to diagnose a fault if it includes dismantling and putting back together
• Be a member of a trade association (such as the Motor Vehicle Repairers Association)
• Have trained staff and display certificates
• Have an auto complaints procedure
if your looking for car finance check out http://www.infinitycarfinance.co.uk/
Buying a new car?
All new cars come with some sort of warranty covering parts failure. In almost all cases your car warranty stays valid no matter where you get your car serviced but terms and conditions attached to warranties can vary.
When you’re looking for a new car it’s worth comparing warranties as well. Make sure that the
warranty gives you what you want and doesn’t include conditions that will cost you money later.
Types of warranty
All new cars sold in the UK include a basic warranty, called the manufacturer’s warranty.
These usually last for one, two or three years. Most manufacturers with a one or two year basic
warranty also offer at no extra charge a dealer based extended warranty. This can extend the
total period of cover to three years, or longer. It is also possible to buy other types of extended
warranty once you have bought your car. But beware – the manufacturer’s warranty, the
dealer-based warranty and other warranties you can buy can be quite different. The dealer-based warranty and warranties you can buy can have more limitations, like mileage.
Servicing
Where you get your car serviced is an important consideration. Following action by the OFT in
2004, all major makes of new car in the UK are sold without servicing ties as part of their
warranties. This means that the manufacturer’s warranty and any extension offered free, such as the dealer based extended warranty are covered by the Society of Motor Manufacturers and
Traders Limited (SMMT) OFT Approved code of practice (see www.smmt.co.uk). The code from the SMMT, who represent all sectors of the automotive industry in the UK, says that you are free to get your car serviced anywhere in the UK and still benefit from the manufacturer’s new car warranty, as long as the service is carried out to the car manufacturer’s recommendations, even if this service is carried out by an independent service or repair outlet. However, any additional warranty which you have bought, may contain restrictions on where your car can be serviced and for bought warranties this restriction has to be obeyed (as well as any others) for the warranty to be valid. The code also has procedures for dealing with complaints concerning your new car. Aftersales costs, such as services, can represent
around 40 per cent of the whole life cost of the car and many independent garages can offer the
same quality of service as franchised dealers, who tend to be more expensive than
independent garages. It is important to shop around for the best deal and only use reputable
garages that will carry out servicing work in line with the car manufacturer’s service schedules.
Your legal rights
A warranty adds to your legal rights, it is not a substitute for them. In law if the car develops
a fault in the first six months, it will usually be assumed that the fault was there when you
bought it. In these circumstances you can ask the dealer to repair the car free of charge or
replace it.
Before you buy ask the salesperson
these questions
• Is the warranty covered by the SMMT code which permits servicing by independent
garages?
• How much will the servicing costs be? (Compare them to other garages in your area)
• How much leeway is there if I cannot get the car serviced in accordance with the approved
servicing schedule?
• How long does the manufacturer’s warranty last?
• What does it cover?
• When does the dealer’s warranty start and what does it cover?
• Is every fault covered by the manufacturer’s/dealer’s warranty?
• What isn’t covered by the manufacturer’s /dealer’s warranty?
• Is the warranty restricted by the amount of mileage I do?
• If I have an accident but I get the car repaired, is the warranty affected?
When you’re looking for a new car it’s worth comparing warranties as well. Make sure that the
warranty gives you what you want and doesn’t include conditions that will cost you money later.
Types of warranty
All new cars sold in the UK include a basic warranty, called the manufacturer’s warranty.
These usually last for one, two or three years. Most manufacturers with a one or two year basic
warranty also offer at no extra charge a dealer based extended warranty. This can extend the
total period of cover to three years, or longer. It is also possible to buy other types of extended
warranty once you have bought your car. But beware – the manufacturer’s warranty, the
dealer-based warranty and other warranties you can buy can be quite different. The dealer-based warranty and warranties you can buy can have more limitations, like mileage.
Servicing
Where you get your car serviced is an important consideration. Following action by the OFT in
2004, all major makes of new car in the UK are sold without servicing ties as part of their
warranties. This means that the manufacturer’s warranty and any extension offered free, such as the dealer based extended warranty are covered by the Society of Motor Manufacturers and
Traders Limited (SMMT) OFT Approved code of practice (see www.smmt.co.uk). The code from the SMMT, who represent all sectors of the automotive industry in the UK, says that you are free to get your car serviced anywhere in the UK and still benefit from the manufacturer’s new car warranty, as long as the service is carried out to the car manufacturer’s recommendations, even if this service is carried out by an independent service or repair outlet. However, any additional warranty which you have bought, may contain restrictions on where your car can be serviced and for bought warranties this restriction has to be obeyed (as well as any others) for the warranty to be valid. The code also has procedures for dealing with complaints concerning your new car. Aftersales costs, such as services, can represent
around 40 per cent of the whole life cost of the car and many independent garages can offer the
same quality of service as franchised dealers, who tend to be more expensive than
independent garages. It is important to shop around for the best deal and only use reputable
garages that will carry out servicing work in line with the car manufacturer’s service schedules.
Your legal rights
A warranty adds to your legal rights, it is not a substitute for them. In law if the car develops
a fault in the first six months, it will usually be assumed that the fault was there when you
bought it. In these circumstances you can ask the dealer to repair the car free of charge or
replace it.
Before you buy ask the salesperson
these questions
• Is the warranty covered by the SMMT code which permits servicing by independent
garages?
• How much will the servicing costs be? (Compare them to other garages in your area)
• How much leeway is there if I cannot get the car serviced in accordance with the approved
servicing schedule?
• How long does the manufacturer’s warranty last?
• What does it cover?
• When does the dealer’s warranty start and what does it cover?
• Is every fault covered by the manufacturer’s/dealer’s warranty?
• What isn’t covered by the manufacturer’s /dealer’s warranty?
• Is the warranty restricted by the amount of mileage I do?
• If I have an accident but I get the car repaired, is the warranty affected?
When you’re thinking of buying a new car, perhaps using car finance UK for your motor it’s worth comparing warranties as well as cars –
it can save you a lot of time and money later particularly on the car loan if you have one.
Examples of restrictive conditions in warranties
Most manufacturers allow you to service your car wherever you choose so long as certain
standards are met. But some warranties place restrictions on you. Watch out for the following
restrictive conditions:
‘Only an authorised (make of car) repairer services and maintains your vehicle in
accordance with the manufacturer’s recommendations.’
‘This warranty is dependent upon the manufacturer’s recommended servicing being
carried out by an authorised (make of car) dealership at the time or distance intervals
specified in the (make of car) Warranty and Maintenance Record booklet, subject to the
vehicle being driven less than 60,000 miles since first registration.’
‘The vehicle must be regularly serviced by an Authorised (make of car) Dealer in accordance
with the (make of car) service schedules using (make of car) approved parts during the 3 year
warranty period.’
A good place to look for a facility for this would be at http://carfinanceuk.me.uk/
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