Auto insurance comes with a lot of terms and conditions. It is all about the coverage that matters when one takes an auto insurance. What is a collision coverage? A collision coverage can be termed as a coverage that you get when your car collides with another vehicle or an object such as a tree, wall, or fence. All insurance companies provide collision coverage. When your vehicle is collision insured, your insurance company is required to pay for any repairs or replacement, if the car is involved in an accident. In the event of leasing or financing a car, this insurance is provided by the lender itself. Having a collision coverage is worth your peace of mind if any untoward event happens with your vehicle. Coverages under collision insurance Collision insurance will only be covered if, your car has collided with another vehicle. Apart from another vehicle, it can even be an object such as a tree or a fence. Lastly, it should involve a single car, rolling or falling over. Things not included under collision coverage include any damage that is unrelated to driving and any medical expenses incurred due to the damage. This is regardless of your or another person’s fault and it also does not include coverage for damage caused to another vehicle.

Bankruptcy is extremely stressful and in such situation, if you need to buy a car, it is could be terrifying. However, you need not worry. The proposition may seem impossible but you can buy a car even after bankruptcy. There are several lenders and dealership who can help you to buy a car. In order to buy a car after bankruptcy, there are certain things that have to be considered. Take a look at your credit scores and credit reports Your credit scores or reports may not be pretty but it is better to have a look at them before the car financing company goes through it. You may both be looking at different aspects of the reports since the lender will have a customized report in hand. But you would get a fair idea of your standing when you see them. You must pay attention to what the report is saying about your previous car loans as those are checked by the car loan company primarily. It would make a positive impact if your previous car loan payments were made on time. Save more for a down payment Car loan approval takes less time if the lender is less worried.

When you buy a new car, the dealer offers you a bumper-to-bumper warranty that covers the new car for three years. This warranty will cover most of the things related to your car in case it malfunctions or meets with an accident. For instance, if the oil starts leaking or the engine quits, you can take it for repair at no extra charge. What does car extended warranty mean? A car extended warranty is something that the dealer wants you to buy in addition to the original warranty. This costs a lot of money and would provide cover for two more years. If and when you decide to buy an extended warranty, ensure that it covers the same or more components as the original one.Then there is powertrain warranty as well. Manufacturers offer ten years of powertrain warranties which are nothing but a car warranty on those components that are less likely to malfunction or get damaged like the transmission, engine, and driveshaft. Third-party extended warranty You get a warranty when you take car financing for a used car as well. In case the vehicle is still under the original warranty, the price you pay for the car would include the balance amount of the warranty as well.

To-be car owners are often caught in the dilemma of financing vs. leasing a car. This is because with the purchase of a new car, one is required to spend a huge amount. On the contrary, you only have to pay a minimum amount every month for leasing a car but the cycle of paying money for the car never ends. Things to consider when leasing or buying a car Financial factor is the most crucial thing that every consumer keeps in mind before making a purchase or opting for leasing. Expenditure decides what the consumer should choose because, at the end, he is responsible for paying out money. Now take a look at the aspects that you must keep in mind before finalizing what can fit your needs. Initial fees and down payment Generally, the lease deals are available with low down payments that you are compelled to pay before starting to use the car. Or, you can get a dealer who can renounce the down payment over the course of time. In this way, you will have to pay only a minimum amount of sales tax and on the lease. If the down payment amount remains low, you are not likely to face financial constraints.

When you hear words like ‘loan’ or ‘financing’, you instantly conjecture them as complex terms. However, they are not as complicated as you think. Car loans are the easy way to acquire financial facility when you decide to buy your dream car. What is a car loan? Similar to credit facilities like personal loans, an auto loan is an option where you can get money to purchase an automobile. You, being a borrower, lend the amount from a bank or other financial institutions and repay the amount with interest. If you are 18 years old or above, you are eligible to apply for an auto loan and a savings account is required to be opened. Generally, the auto loan is repaid in equated monthly installments (EMIs). Unlike a personal loan, an auto loan is a secured financing option. The fundamental part of a loan is its interest rate and principal. Now, the amount of principal is negotiable and is dependent on the market value of the vehicle. The interest rate is one of the important factors in car financing and you have to pay a certain percentage of interest on the principal amount. At the time of purchasing the automobile, you are required to pay a specific amount of money, which is known as down payment.

These days, having a car is more of a necessity than a luxury. We feel the pride of ownership while purchasing one. Buying a car is certainly a passionate moment, and if it’s your first car, the joy is multiplied. There is always a confusion whether to buy a car on loan or without it. Also, it depends on the financial status of the buyer. So, if you are planning to take a car loan, there are many banks that are willing to give you car financing. The eligibility criteria to avail car lease differs from one lender to another according to the borrower’s profile. Below are some important points to be considered by the car loan provider. Buyer’s age : To avail the lease facility you have to undergo the criteria of minimum and maximum age. Minimum salary : They also want to know your minimum salary to sanction the required amount of car lease. Type of employment and its substantiality : Loan providers also want to be sure on your employment type, whether you own a business or a salaried employee further your duration into your profession. Type of car : Are you willing to buy a new are or a used one. Area of residence :

The day has arrived when your child has grown up and is in need of a car. However, he/she does not have enough money or credit history to buy a car or get car financing. You are almost morally obligated to give your teenager a car. However, since you may think that if he wants to drive a car, he must have the potential to buy one. But chances are that he may not have the money to buy a car. The least you can do is to co-sign a car loan. You may have already assumed all the cons associated with this proposition but before dismissing the same completely, give it a second thought. There are several advantages that help young adults to get a car loan approval. Safety net This is going to be advantageous for your kid but not so much for you. When you co-sign a car loan, you are offering a safety net to your kid in case he is unable to make the payment on his own. In case, your teen defaults, the bank will come to you for the money. When you pay this amount, you are actually saving your son and his credit history.

Your credit history always plays a significant role in getting a car loan approval. Buying a car with a bad credit car loan is an expensive affair. Having a negative credit history including high debt, repossession, late payment, and bankruptcy can make you at risk of defaulting. You need to keep various things in mind before purchasing a car with a bad credit loan. Points to keep in mind before applying for a bad credit car loan. Do work on your credit before purchasing the car. Improving credit like past-due account, disputing credit reports errors, means the chances of loan improvement will get increased. Make sure that you are not going to take any other major credit obligation. Before buying a car with bad credit, do not forget to check out the current interest rates as bad credit can make you go with the higher interest rate. Go for making a down payment as it can help you to offset the interest, fees, and taxes. You must consider the money you are going to be left over with after paying bills. You need to check your budget first to make sure that you are allowed to pay. Do read all paperwork to stay away from the hassle that can occur later.

A credit score is a crucial thing when you are opting for a loan, irrespective of whether it is a personal loan or an auto loan. Through the credit score, the banks and other financial institutes understand your lifestyle expenditure. It is seen that many people struggle to keep up a good credit score because regular income and stable job history is not much of a help in this context. Financing a car with bad credit can be difficult because most of the loan providers are reluctant to offer a loan to someone who has bad or no credit score. Financing a car with bad credit is difficult because lenders think that those with a poor credit score are not capable of returning the money on time. However, if you wish to buy a car with the help of car loan, you need to follow certain measures. Here are the factors to consider while financing a car with bad credit. Avoid opting for other credit facilities You have probably thought of buying a car for several months and you are even sure that you will be in need for car financing, especially if you have a bad credit score. Now, as you think of loan, you should manage your expenditure for months before whimsically filling up the loan application.

Any kind of damage to the windscreen of your vehicle can be a depressing incident, not just that, any kind of car damage can be saddening. However, you need to overcome the disappointment and take appropriate measures for repairing the damage. Repairing your car can expensive and, like most of the car owners in the country, you must also have a car insurance to deal with the repairing expenses. However, when it comes to car insurance, you must check everything it covers before accepting the policy as not all types of car insurances cover windshield repairing. In case, you are lucky to have a car insurance cover for cracked windshield repair, you need to follow some simple steps to make your claim. Make no delay – This is the first and foremost thing to be taken into account when you are looking to get your cracked windshield repaired through insurance. Inform your insurance company at once and file the claim. Many insurance providers, like GEICO, always prefer prompt reporting of the damage and filing the claim online. Nowadays, most insurance companies have their online portal and you can make your auto repair claim at ease. Know the clauses carefully – Many tend to delay in filing the auto insurance claim, as you are not confirmed whether your policy would cover the repairing cost for your windshield.