Tuesday, September 21, 2010

Auto Finance Tips

Auto Finance Tips


Making sure to finance a vehicle properly will greatly reduce the cost of your next new or used car. "Auto Financing" is a general term meaning how you pay for the vehicle. In most cases, cars are financed by taking out an auto loan to buy or lease the car. This involves getting a credit check. By checking your credit history first, and answering all the tough car finance questions up front, you will be more prepared to handle issues at the dealership.

In the articles on these pages we will not only look at the general topic of car finance but we will consider the related topics of credit history, car loan refinancing, auto insurance and all issues pertaining to special car finance considerations. Although most people don't like to think about the subject of auto financing (instead they like to focus on that shiny new car) it is actually the most important part of car buying. While your credit will be checked by the salesman, often before negotiations begin, this is not the only way you can go to get your new car. You do not have to throw yourself at the mercy of the dealership even for special car finance situations. Being prepared before you get to the dealership will mean that you can take charge of your credit and get the new car loan that serves you best.
Keep this in mind: when you negotiate with the salesman for the most favorable auto loan, nothing is permanent until you have it in writing. The sales contract is prepared once negotiations seem to be over. This is handled in the finance and insurance office (the so-called "F&I Room"). It is here that the deal is made or lost. By reading these articles on new and used car financing you will be better prepared to get the best auto loan possible. And who knows? With the money you will be saving, maybe you can move up to that more expensive new car you've been eyeing.

How To Buy A Used Car

Do's and Don'ts when buying a Used Car


New or used car

By purchasing a used car, you can save a lot of money. A new car depreciates quickly in the first few years and after 3 years, it is worth only about 60-70% of the original price. In fact, as soon as you leave the dealership, your new vehicle is suddenly worth $1000-$2000 less. When purchasing a new car you basically are paying for its fresh "new" aroma and warranty. Yet, buying a new car does not always mean the buyer will get perfection. A new car may come with problems associated with poor design or manufacturing defects that may have been already repaired during the warranty coverage period if it's a used car. The same is true for all kinds of recalls and service campaigns. Another advantage of buying a used car is that you could buy a loaded model with all the bells and whistles that you might not be able to afford had you bought a new car.
However, buying a used car is still a bit of a gamble - there is no guarantee that the car is accident-free, has real mileage, and was properly maintained. There may be some hidden problems like a worn out automatic transmission, or engine problems that may not have been obvious when you test-drove the car. So, next you must ask yourself: Will I save money when buying a used car? How do I eliminate the risk of potential problems and is this actually possible to do? Read on to find out more information.

Do's and Don'ts when buying a Used Car

Do Check a used car history report This does not give you a 100% warranty that the car is OK, but may save you some money if it will show you some bad records, for example, if the car was written off after an accident or has had an odometer rolled back.
Do ask someone knowledgeable to inspect the car for you; it may save you a lot of money.
Don't buy a car after a serious accident - especially following a frontal collision. You wouldn't believe how many possible problems may arise later as a result of an accident.
Don't buy a car as soon as you see it. Take your time, test drive the car as long as you can. For example, some problems may only be caught when the engine is cold while other problems may only be discovered when cruising at highway speeds, etc.
Don't base your decision on what you have been told. "One Owner, highway driven" in fact, may be an ex-rental, heavily abused vehicle.
Don't buy a car if you have reservations or hesitate for one reason or another…if you don't have a good 'gut' feeling about it. If the engine seems too noisy or works as if it is in rough shape and sounds heavy, the transmission shifts harshly, some works needs to be done, something seems to be wrong with the papers, etc. - move on.
Don't buy a car if it needs some "minor" repairs. Often this results in spending big bucks for repairs that never seem to end.
Don't buy a flooded car; it may look good and still be drivable but later a flooded car may develop many expensive to fix problems: corrosion, electrical, electronics, wheel bearings, transmission, etc.
Don't be rude to a salesperson at the dealership. Regardless of the many stereotypes we share, many salespersons are genuinely nice people. Be persistent but not rude; treat them well and they will be willing to help you...

New, Pre-Owned, Re-Cond, Used Cars, Commercial Vehicles, Showrooms, Dealers & Dealerships

Akira - New & used cars
http://www.akiramotor.com/ 
620 Jalan Pudu, 55100 Kuala Lumpur
Tel: 03 9284 5643, Fax: 03 9285 6322 

Alam Biru Sdn Bhd - Proton dealer
http://www.alambiru.com.my/ 
187 Jalan Skudai, Batu 4 1/2, 81200 Johor Bahru
Tel: 07 235 5000, Fax: 07 234 0500 

AMC Motors - Classic & vinatge cars 
http://www.amcmotorsasia.com/ 
5 Jalan Ampang Hilir, 55000, Kuala Lumpur 
Tel: 03 4251 4776 (AMC Club House), Fax: 03 4251 5776 

Asia Pacific Auction Centre
http://www.apac.com.my/
Sultan Abdul Aziz Shah Airport, 47200 Subang
Tel: 03 7845 8600, Fax: 03 7845 7200 

Auto Auction
http://www.autoauction.com.my/ 
Lot 34070, Jalan 3/115C, Taman Kuchai Jaya, Off Jalan Kuchai Lama, 58200 Kuala Lumpur
Tel: 03 7981 9901, Fax: 03 7982 3085 

Auto Lancia Penang New & Used Cars
http://www.autolancia.com/ 
Tel: 03 5032 9595, Fax: 03 5032 9393 

Autocrest Sdn Bhd
Tel: 03 7806 1953, Fax: 03 7806 1952 

Cartrade Malaysia - BMW 
http://www.cartrade-bmw.com.my/ 
Ground Floor, UOA Building, 19 Jalan Pinang, 50450 Kuala Lumpur 
Tel: 03 2161 4900, Fax: 03 2164 6900 

Carwins - New car and used car dealer located in Johor
http://www.carwins.com.my/ 

Carworld Group - New & used cars, various showrooms in Klang Valley 
http://www.carworldmotor.com/ 
Kah World Sdn Bhd
226, 1st Floor, Jalan Ampang, 50450 Kuala Lumpur 
Tel: 03 4256 2818, Fax: 03 4257 2818 

Cheong Foo Motor Credit
http://www.cheongfoo.com.my/ 
Lot 402, Batu 5 3/4, Jalan Kelang Lama, 58000 Kuala Lumpur
Tel: 03 7782 2925, Fax: 03 7781 0348 

City Motors 
http://www.citymotors.com.my/ 
Lot 21, Jalan Maarof, Bangsar, 59100 Kuala Lumpur 
Tel: 03 2282 3795

D Yeo Auto - New & used car dealer
http://www.yeoauto.com/ 
29 Jalan Sulaiman, 84000 Muar, Johor
Tel: 06 952 2422, Fax: 06 951 1888 

Eastern Oriental Auto - Buy & sell local & imported cars 
http://www.e-oriental.com.my/ 
Lot 8, PT 1200, Batu 9, Jalan Klang Lama, 46150 Petaling Jaya, Selangor 
Tel: 03 7875 5757 

G-Mart Group - New car dealership & auction house 
http://www.gmart-auction.com.my/ 
Lot 10843, Batu 12, Jalan Cheras, 43000 Kajang, Selangor 
Tel: 03 8737 6788, Fax: 03 8736 9005 

Intercontinental Motors - Used cars, mpvs & vans
http://www.autosupermart.com.my/ 
Lot 8474-1 7 1/2 miles, Jalan Ipoh, 68100 Batu Caves
Tel: 03 6188 0321, Fax: 03 6187 5041 

Kosmo Kars - Honda cars dealer 
http://www.kosmokars.com.my/ 

Kuantan Motor - Perodua, Daihatsu & Nissan dealer in the East Coast
http://kuantanmotor.com.my/ 

Ming Heng Motor Sdn Bhd
http://www.mingheng.com.my/ 

Motor Dynamics - Dealer/workshop for new or used Mitsubishi Pajeros & other 4wd vehicles
http://www.motordynamics.com.my/ 
37 Jalan 18/14, Taman Kanagapuram, 6th Mile, Old Klang Road, 46000 Petaling Jaya
Tel: 03 7784 2789, Fax: 03 7784 3552 

Mutiara Motors - Used, reconditioned & imported cars
http://www.mutiaramotors.com/ 
111, Batu 4 1/2 Jalan Tebrau, 80250 Johor Bahru.
Tel: 07 331 9010, Fax: 07 331 9098 

Pantai Bharu - New & used cars 
http://www.pantaibharu.com/ 
Bangunan Pantai Bharu, Batu 1, Jalan Meru, 41050 Klang 
Tel: 03 3342 3636, Fax: 3342 7898 

Smart Car Autoworld - Toyota Wish, Harrier, Estima, Alphard, Alado, Cherry 
http://www.smartcar.com.my/ 
37 Jalan AU5C/7 Lembah Keramat, Ampang, Hulu Kelang, 54200 Kuala Lumpur 
Tel: 03 4108 5335, Fax: 03 4107 1798 

Soon Hing Used Cars
http://www.soonhing.com.my/ 
Lot 6085-5, Jalan Kuching, 51200 Kuala Lumpur
Tel: 03 6252 3911, Fax: 03 6252 1912 
Where & how? Getting there: Map | Directions | MyCen Location (what's this?) 

Topmark - Toyota used cars 
http://www.topmark.com.my/ 
52 Jalan Penchala, 46050 Petaling Jaya 
Tel: 03 7782 1155, Fax: 03 7782 1133 

Yap's Auto Trading 
http://www.yapauto.com.my/ 
798 Sentul Pasar Dalam, Sentul, 51100 Kuala Lumpur 
Tel: 03 4041 1692, Fax: 03 4041 7603