| Get SmartTips Newsletters by Email |
 |
SmartTips is a totally free weekly eMail newsletter featuring expert advise and tips on the topics that matter to you, such as:
- Tempated by new car deals? Check here first to avoid over-paying.
- End of the year anticipation? Did something change this year that will affect your taxes?
- 529 College Savings Plans. Your children are never too young—or too old—for you to get started.
Save money with FREE tips on everything from budgeting, managing debt, buying insurance, and planning for retirement.
|
| Get SmartTips Newsletters by Email |
|
SmartTips is a totally free weekly eMail newsletter featuring expert advise and tips on the topics that matter to you, such as:
- Tempated by new car deals? Check here first to avoid over-paying.
- End of the year anticipation? Did something change this year that will affect your taxes?
- 529 College Savings Plans. Your children are never too young—or too old—for you to get started.
Save money with FREE tips on everything from budgeting, managing debt, buying insurance, and planning for retirement.
|
|
|
|
|
|
|
|
Get Financing
|
 |
|
After you and the dealer have settled on a purchase price, you may need to sign some preliminary paperwork and give the dealer a deposit. If you need a loan to purchase the car, you'll also need to obtain financing. If you don't mind making financing arrangements ahead of time, many banks, credit unions, and auto clubs offer favorable interest rates on car loans.
At the dealership, you have a couple of financing options. First, you'll want to ask about special financing programs available through the car manufacturer. These are usually the best deals, offering low interest rates. Unfortunately, though, qualifying for these programs can be hard because special restrictions often apply (e.g., large down payment, limited payment terms).
You can also apply for a traditional car loan through the dealer, who makes additional money by arranging on-the-spot financing. But don't assume you're getting the best deal available. The interest rate on dealer-sponsored loans is usually higher than the interest rate that you would receive on your own.
Around this time, the dealer will try to sell you extras such as an extended warranty, service contract, or rustproofing. Watch out--these extras are expensive and often overpriced. If you're interested in purchasing them, be sure to negotiate a favorable price, or look into buying them elsewhere.
The dealer can also help you arrange proper insurance coverage of your car and make sure that the registration and plates are in order, or you can choose to do this yourself. In either case, once all the paperwork is signed, the dealer will hand you the keys, and the car will be yours!
Copyright 2003 Forefield, Inc.
After you and the dealer have settled on a purchase price, you may need to sign some preliminary paperwork and give the dealer a deposit. If you need a loan to purchase the car, you'll also need to obtain financing. If you don't mind making financing arrangements ahead of time, many banks, credit unions, and auto clubs offer favorable interest rates on car loans.
At the dealership, you have a couple of financing options. First, you'll want to ask about special financing programs available through the car manufacturer. These are usually the best deals, offering low interest rates. Unfortunately, though, qualifying for these programs can be hard because special restrictions often apply (e.g., large down payment, limited payment terms).
You can also apply for a traditional car loan through the dealer, who makes additional money by arranging on-the-spot financing. But don't assume you're getting the best deal available. The interest rate on dealer-sponsored loans is usually higher than the interest rate that you would receive on your own.
Around this time, the dealer will try to sell you extras such as an extended warranty, service contract, or rustproofing. Watch out--these extras are expensive and often overpriced. If you're interested in purchasing them, be sure to negotiate a favorable price, or look into buying them elsewhere.
The dealer can also help you arrange proper insurance coverage of your car and make sure that the registration and plates are in order, or you can choose to do this yourself. In either case, once all the paperwork is signed, the dealer will hand you the keys, and the car will be yours!
Copyright 2003 Forefield, Inc.
|
|
|
|
|
|
Notice
By clicking any of the link(s) on this page you will be transferring from this Marsh site to a site comprised of third party content. You hereby agree that Marsh is not responsible or liable in any manner for such third party content hosted on the linked site.
Notice
By clicking any of the link(s) on this page you will be transferring from this Marsh site to a site comprised of third party content. You hereby agree that Marsh is not responsible or liable in any manner for such third party content hosted on the linked site.
|
|
|
|
Estimate Your Monthly Payment
If you're like most people, you'll take out a loan to pay for your new car. Your monthly loan payment will be based on a number of factors including:
- Cost of your new car
- Amount of your trade-in and down payment
- The amount you own on your trade-in
- Interest rate
- Length of the loan
- Sales taxes and other fees
Use this online calculator to estimate your monthly payment.
Source: CPA Site Solutions
|
Note |
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
Estimate Your Monthly Payment
If you're like most people, you'll take out a loan to pay for your new car. Your monthly loan payment will be based on a number of factors including:
- Cost of your new car
- Amount of your trade-in and down payment
- The amount you own on your trade-in
- Interest rate
- Length of the loan
- Sales taxes and other fees
Use this online calculator to estimate your monthly payment.
Source: CPA Site Solutions
|
Note |
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
|
Compare Auto Financing Options
Low, promotional interest rates can save you a great deal of money when you finance your car or truck. Not only are your monthly payments lower, but your total interest payments can be significantly less. This calculator is designed to allow you to compare three different auto financing options. Use it to help find the best monthly payment and how much interest you could save.
Source: Forefield, Inc.
|
Note
|
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
Compare Auto Financing Options
Low, promotional interest rates can save you a great deal of money when you finance your car or truck. Not only are your monthly payments lower, but your total interest payments can be significantly less. This calculator is designed to allow you to compare three different auto financing options. Use it to help find the best monthly payment and how much interest you could save.
Source: Forefield, Inc.
|
Note
|
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
|
Compare Auto and Home Equity Loans
Home equity loans often have lower interest rates than auto loans and the interest may be tax deductible. Two good reasons to take a look at home equity loans to finance your automobile purchase.
Source: CPA Site Solutions.
|
Note
|
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
Compare Auto and Home Equity Loans
Home equity loans often have lower interest rates than auto loans and the interest may be tax deductible. Two good reasons to take a look at home equity loans to finance your automobile purchase.
Source: CPA Site Solutions.
|
Note
|
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
|
Compare Financing Deal With Rebate
Use this calculator to help you determine whether you should take advantage of low interest financing or a manufacturer rebate. A rebate will reduce your auto loan balance, while low interest financing lowers your monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.
Source: Forefield, Inc.
|
Note
|
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
Compare Financing Deal With Rebate
Use this calculator to help you determine whether you should take advantage of low interest financing or a manufacturer rebate. A rebate will reduce your auto loan balance, while low interest financing lowers your monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.
Source: Forefield, Inc.
|
Note
|
| The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
|
|
|
|
Learn How Dealer Financing Works With prices averaging more than $28,000 for a new vehicle and $15,000 for a used vehicle, most consumers need financing or leasing to acquire a vehicle.
This booklet explains dealership financing and can serve as a guide as you evaluate your own financial situation before you finance a new or used vehicle. It will also help you understand vehicle leasing.
Source: Federal Trade Commission
| Note | | The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
Learn How Dealer Financing Works With prices averaging more than $28,000 for a new vehicle and $15,000 for a used vehicle, most consumers need financing or leasing to acquire a vehicle.
This booklet explains dealership financing and can serve as a guide as you evaluate your own financial situation before you finance a new or used vehicle. It will also help you understand vehicle leasing.
Source: Federal Trade Commission
| Note | | The products and services listed on this page are presented as a service to you. Neither L-3 nor Marsh recommends any product or service; there is no guarantee that any listing on this page will be suitable for a particular purpose. |
|
|
|
|
|
Buying a car is a major purchase, so shop carefully. Your goal: to find the car you need at a price you can afford. The information below will steer you right.
How much car is too much? Get guidance here.Financial experts recommend spending no more 12 to 15 percent of your after-tax monthly income for car payments. To calculate how much car you can afford, multiply your monthly net pay (take-home pay after taxes are deducted) times 15% (.15). Your car payment should not exceed this general guideline. 
Buying used can save a lot of money. But know what you’re buying.Years ago, cars were much less dependable. That made buying a used car a risky bet. Today, with new cars having far fewer defects, the chance of buying a clunker is much lower. Still, it pays to know when it makes sense to buy used—and when it doesn’t.
Leasing is confusing, that much is clear. Get enlightened here.You can’t make the lease/buy decision without understanding the mechanics of leasing. This involves knowing all of the provisions of a lease contract and knowing your initial, ongoing, and final leasing costs.
There are so many vehicles to choose from. Narrow your options . . . or else.Car showrooms are like candy stores. Unless you know exactly what you want, you’ll spend too much and regret it later.
Car shopping is tricky for the uninitiated. Get up to speed before you head out.Maybe you’ve always pictured yourself driving a shiny red convertible. Or perhaps you’ve had a recent addition to the family and you’re looking for the practicality of a minivan. Whatever the reason, you’re in the market for a new car. Here are some tips to help make the car-buying process a bit easier.
You thought shopping for a car was tough. Try shopping for money.Consider all of your options for financing your vehicle: direct loans from a bank, credit union, or finance company; loans from Internet finance providers; and dealer loans. But financing details can be complicated, so do your homework. The advice below will help.
Protect your shiny new (or used) car with auto insurance. But get a good deal first.Not all auto insurance is the same. Prices and service quality can vary depending on the insurer you select. Your job: Find the right balance between low cost and quality service.
|
|
|