Comprehensive insurance policies are designed to give you peace of mind, no matter what the situation, your needs will be taken care of.

What is comprehensive car insurance?  Why do I need to take out extra insurance? Isn’t my car’s manufacturer’s warranty enough?

Contrary to popular opinion in some sectors of society, comprehensive car insurance is not the same as your car’s manufacturer’s warranty. They might cover the repair and replacement of similar parts; however, under very different circumstances.

What is comprehensive car insurance?

Comprehensive car insurance is one of the highest levels of insurance you can get for your motor vehicle. It covers you for any damage to your car as a result of a motor vehicle accident, theft, or natural disasters. In the case of a car accident, your comprehensive car insurance will even cover the damage to the other cars that were involved in the accident.

What is a manufacturer’s warranty?

A manufacturer’s warranty, on the other hand, covers you for the repair or replacement of most of the mechanical, electrical, and electronic parts of your motor vehicle. These parts are only replaced if they are defective or break due to normal wear and tear. This warranty is a factory warranty and covers the car for a certain time period or a certain mileage, depending on whichever comes first. In other words, your car’s manufacturer’s warranty might specify that it will cover the repair or replacement of the specified parts for three years or 60 000km. If you travel a lot, it is highly likely that this warranty will expire in less than 3 years but with 60 000km on the clock. On the other hand, if you do not travel a lot, it is probably that the manufacturer’s warranty will expire after 3 years and with about 20 000km on the clock.

Reasons to sign up for a comprehensive car insurance policy

Now that the differences between the two types of warranties are clear, let’s look at some of the reasons why it is important for you to sign up for the latest policy for NRMA comprehensive car insurance from Warranty and Insurance:

• NRMA insurance is a solid reliable company with a reputation for looking after Australians’ motor vehicles for over 85 years.
• They offer fully comprehensive cover against motor vehicle accidents, theft, and natural disasters such as floods, storms, landslides, earthquakes, tsunamis. They do not offer cover in the event of your car being involve in a war or in a riot, even if it is inadvertently parked on the side of the road where the riots have erupted.
• You can claim for windscreen repair, trailer or caravan damage, severe weather damage, storage costs, personal items that were in your car at the time of the incident, emergency repairs to get you home or to the dealership, damage to another vehicle, and damage to your car by an uninsured driver.
• If you do not have comprehensive insurance cover,  and you are involved in a motor vehicle accident, not only will you be responsible to pay the full cost of the repairs to your own vehicle, you will also be held liable for damage to the other vehicles involved in the accident, especially as the accident was deemed to be your fault.

Final words

We have seen that it is a very good idea to take out a comprehensive insurance policy. Should you be interested in discussing your options with a skilled consultant or just understanding more about comprehensive insurance policies, you can click here for more information.

Getting a car of one’s dream is a milestone everyone looks to achieve. Cars are a necessity, more than just a need. They make one’s life easier by shrinking the distances and reducing the travelling time. Although a car is a necessity and any four wheels can fulfill it, everyone thrives for a perfect, most comfortable and beautiful car. As our wishes tend to increase when we select a car for ourselves, funds usually seem short and this is where car finance can help.

Like all other sectors, technological advancement has made the process of car finance easier as well. You can now get your car financed online over the internet. The following tips will help you through the process of online car loan if you do not have an experience of using the facility before;

1. Online car loans are usually cheaper as compared to one applied otherwise. As the competition in the online market is increasing day by day, the online dealers offer cheaper rates to attract more and more borrowers.
2. You have the choice of browsing through the websites of all the companies and chose the best car and best deal available.
3. A comparative analysis for different cars and loan rates can be easily done. You can ask a number of companies to submit their quotes for as many cars as you want.
4. Before you start browsing and inquiring for the loan rates, make sure you know your credit score. The credit score is the only factor that can get you cheaper loan. If you have managed to maintain a credit score of above 625, dealers will not hesitate to extend loans to you and the interest rate will be relatively cheaper.
5. In case you do not have any credit history, it will be equally bad as having a low credit score. The situation can also lead to expensive loan installments as the risk for the lender is on the higher end.
6. Online application does not mean that you do not have to submit your documents. After submitting the online forms, start collecting your documents such as job appointment letter, salary slips, papers of any property if you own etc. These documents strengthen or weaken your case.
7. Be very careful while selecting a right car that meets all of your requirements. You can get both used and new cars. Make sure you do not select a very old car as it may increase your maintenance charges.
8. Online loans can also be used for improving one’s credit score. You can secure a car loan and pay back within the stipulated time, this will eventually help you improve your credit score for applying more loans in future at cheaper rate.

Documentation requirements for getting an online car loan may not differ much from the others but it does give you an access to cheaper loan. You can sit at home and compare between different makes and quotes. Take your time and select the right deal.

When in urgent need of money and faced with situation like bad credit, people often take up loans like the payday loans or the car title loans. These offer immediate relief from the cash crunch are very costly loans because of the high interest rates and tougher repayment terms on them.

More about car title loans

There’s only one eligibility criteria for the car title loan and it says that you must be the sole owner of the car and there should not be any loan on the car. Once you take the car to the lender they evaluate the car’s present value. Generally it is done using the blue book which is meant for such evaluations. The loan requires a small application form to be filled out. These loans are quick and are generally given for a very short duration often ranging from a few weeks only. The owner of the car continues to own the car as earlier and agrees to pay a fixed amount to the lender as per date decided under the loan agreement. The interest rates on the title loans are pretty high and one should take this into consideration while making the loan decision.

People often try to avoid these loans but when there is an urgency they look out for ways which can offer them quick solution and there they go in for the car title loans which offer them the required solution.

So why do people take car title personal loans for people with bad credit even though they know that these are not meant for them? Well the most obvious reason behind this behavior is, ignorance. People are not aware of the ways to avoid the car title loan. Here are certain ways which can save you from the killer car title loans.

Maintain a savings account: One of the best ways to prepare yourself for the short- term emergencies requiring little amounts is to maintain a savings account. One needs to allocate a fixed amount of their monthly income towards these savings accounts. Consistent efforts will build a corpus which can be easily used in the times of emergency. If we consider this against the car title loans , there are high interests to be paid and if one fails to repay the loan on time they are faced with heavy penalties and stand a chance to lose their vehicle in the act.

Maintaining a savings account might look like a cake walk. However, it is not. In fact people often pull out money for their expenses from the savings account. Instead of looking at the account for the future use they look at it as a source of funds which can fulfill their desires.

One has to maintain strict discipline towards keeping the savings account for the purpose it has been designated.

There are other ways too to tackle the urgent needs. These include the personal loans, loan against insurance policies, sale of stocks and even loan against securities.

However, if one has bad credit getting any other form of unsecured personal loans might be difficult. People then have to look out for other ways like selling off the unused stuff in the house to raise some cash etc. If you have some cash with you as savings but you do not want to use it for this emergency review your decision. Car title loans will not only require you to pay for high interest rates but any delay might lead to further increase in the interest rates and you might lose your vehicle too. It will always be wise to use the savings to avoid the car title loans.

It’s time to use your car to get one step further down on your financial condition, with an auto loan refinancing. There are so many options for refinance in your auto. So it is very easy to get an auto loan refinance. You could use your car as a path to get extra cash. Now it becomes very easy to get an auto loan refinance. Many people are using it to increase their financial ability. Its process is very suitable and easy. Review the period or terms of your existing auto loan.

It is very important to know that where you stand with your present loan. After knowing this, you can start shopping for a new loan. Try to find out that what you are paying in the interest, your current pay off amount, how many months you have left, and whether there is a prepayment penalty in place. Determine of your car qualifies because each bank has its own stander requirements. Banks will not refinance a vehicle that has less than 7,000 dollars left on the loan, more than seven years old has 100500 miles or more.

How a refinance, will save you?

It is also very important for all of us to count about the auto loan refinance. You must have to count it before you get this loan. Count will help you to take the right decision. Now there is many online loan calculator is available. So you can use an online auto loan calculator to calculate the details about the unsecured loan. You get the details of repayment amount, interest rates, and much more.

Compare rates with others:

Before you get an auto loan refinance, please don’t forget to compare the rates with other deals. It will help you to find out the best option. You can call few banks in your area to get full details about the interest rates. You can also take help by many online sites. There is many online site is available to give you different information about the auto loan refinance. By the help of an online site, you can find out the national averages. When you are going to refinance an auto loan, that’s the rate you are like to pay, even if you have a brand new car loan now.

Simple application process for an auto refinances loan:

If refinancing seems to make suitable after running your calculations, then it’s time to go ahead into all of the details. Ask the financing companies that you are considering about fees that you will expected to pay. You have to pay a small fee of reregister, and for transfer the title of the vehicle is to be expected. Some banks and financing companies also take processing fee. You may also, ask about a prepayment penalty if it built into the loan. You have to avoid this because it will penalize you to paying off your loan quickly. When you have compared all of your options, than submit your loan application to the bank. Before you finalize your loan, please review your paperwork. Refinancing in an auto loan is the best and smart way to increase your financial condition.

It does not make any financial sense in buying vehicles by paying the entire amount from your pockets. Therefore, it is recommended that you opt for car financing. It is always easier to pay easy monthly installments, rather than shelling out money to purchase your car outright.

It is easier to procure auto loans if your credit history is good, and if you have a monthly inflow of cash. Auto finance is provided to the vehicle buyers at the time of purchase, which needs to be paid back along with the interest amount, gradually within the agreed timeframe. Availing car title loans in Atlanta or any other city in the US is not all that complicated, but it important to make the repayments on time to avoid your vehicle from getting confiscated.

The Plus Points of Having Car Loans:

• Reduces the stress of paying a huge amount at one go. You can use your car and keep making minimum payments each month towards the borrowed funds.
• It helps to build your credit score if you are paying the installment on time.
• You could choose to buy a vehicle of your choice without compromising on your other needs.
• It is your own car and can be driven anywhere you like unlike the ones that are available on lease or rent.
• Another added advantage is that any damage done to the vehicle will be paid by the insurance company. Most of the companies ensure that the purchaser buys insurance along with the vehicle bought. The premium amount may be a little high, but later as the outstanding balance reduces, it will come down.
• You have the choice of refinancing your loan to other types such as home equity credit, if your payment history is well maintained. This will ensure that you enjoy low interest rates.
• Unless you make payments on the due date, you’ll not be charged any fee, thus saving you from high installments every month.

In order to get your loan approved quickly, there is a set of legal documents which you need to keep ready.

Documents required:

• Proof of income: Your lender would be more interested in knowing the source of your income. It gives them a sense of security that the borrowed funds will be paid in the agreed time. You have to provide the latest pay slips or the deposit slips if the money is transferred directly to your bank account. This will help the lenders know your incomings and the tax paid. For self employed individuals, they can produce two years of tax return papers.
• Proof of residence: It is a must, as the finance company will want your address for further negotiations. Your home electric bill or identity proof having your current residing address will be sufficient.
• Credit papers: Your good credit history is sure to sail you smoothly through the entire loan application procedure. You’ll need to provide complete details including date of birth and social security number to help them check your credit score and if any debt owned. Your lenders would also want the copies of any mortgage being paid currently.

The delays in loan approvals happen because of inadequate or incomplete paperwork that you produce. Therefore, you will need to make sure that you keep all the paperwork ready for a smooth approval process. Some of the lenders will process the payment directly into your bank account, while others pay you through checks.