How to Get a Car Loan

Buying a car can be a daunting process. The sheer number of makes and models can be overwhelming. Before you go shopping, the first thing you should do is look at auto loans. Here is what you need to do to get the best financing deal possible.

Check Your Credit

First, take a look at your credit report. If you have a high credit score, you should be eligible for a lower interest rate. If you notice any unusual activity or incorrect information, get it resolved before you apply for financing. You can boost your credit score by paying off any small debts or credit cards.

Look at Your Budget

Figure out how much of a monthly payment you can afford. If you don’t know what your monthly cash flow is, calculate your yearly income, expenses and savings. Divide that number by 12. This should tell you how much you can afford to pay toward a car each month. Also, don’t forget to account for the cost of auto insurance, registration and repairs.

Shop Around

Compare different auto loans by visiting your local bank and credit union. There are lots of options online as well. Look at different factors such as interest rates, down payment amounts and the duration of each loan. Most car loans last for four to six years, so you should compare monthly payments based on different timeframes.

Get Pre-Approved

Once you have found a financing package that you like, get pre-approved. The lender will tell you how much you can borrow and the interest rate. Please note that your authorization is time-limited, so you may need to move quickly to purchase a car once your application has been processed.

Since you took the time to investigate auto loans, you should know what type of car you can afford. Now you can worry about more interesting issues, such as gas mileage, size and color. If you want to sweeten the deal further, don’t forget to take advantage of rebates and dealer incentives.

Tips for Making Your Tires Last Longer

No matter how great your car is, it’s not going anywhere without quality tires. And with both new and used cars, tires are among the most expensive component to replace. For that reason, you’ll want to learn a few useful tips for learning how to get as many miles as possible out of your tires.


Keep Your Tires Properly Inflated


During the warmest and coldest months of the year, it’s essential that you keep a close eye on your tire pressure. You can check your owner’s manual to see how much your tires’ PSI value should be at any given moment. Depending on where you get air for your tires, there might be a gauge you can use to measure your pressure before you add more air. It’s best to check your tire pressure at least once a month.


Store Your Tires the Right Way


If you switch to winter tires because you live in an area where it snows, take care how you store your regular tires. Specifically, you want to protect your tires from the sun’s UV rays while they’re in storage. You should also know that ozone can eat away at your tires. Finally, storing your tires in a place where the temperature remains constant better ensures the tire’s sidewall and rubber are protected from damage.


Balance & Rotate Your Tires


Take a glance at your car’s manual to see how often you should have your tires rotated. Whether you have front- or rear-wheel drive determines which tires get more wear, and you want all four of your tires to wear evenly, which is where rotating comes in.


On a related note, you should also make sure the mechanic checks to see if your tires need to be balanced when they’re being rotated. Poorly-balanced tires lead to uneven wear and dangerous vibration.


Be sure to check with your dealership for more info on getting the most out of your tires. An upcoming tire sale could be a great way to save money while enjoying your used car.