Posts Tagged ‘Car’

Vintage Classic Cars – What Makes a Car Vintage?

November 10th, 2011

Do you have an old car lying in your garage that you are thinking about selling? STOP! Before you do, it is important to know whether or not your vehicle is vintage. Vintage classic cars may not mean much to you, but they do mean a lot to your bank account! If you have ever been to a vintage car show, you know that there are many parts of vintage vehicles that sell for hundreds (if not thousands) of dollars. If your vehicle is in good working condition, it could be worth more money than you could even imagine!

So what exactly are vintage classic cars? A vintage classic car is basically any vehicle that was manufactured between the years of 1920 and 1950. Known as the ‘real classics’, vintage cars are collected by car enthusiasts around the world. So, if you have a ‘hunk of junk’ sitting around in your garage – you will want to make sure that its actually junk before you decide to sell it or send it to the crushers.

How can you tell if your vehicle is vintage? The best way to distinguish vintage classic cars from other vehicle types is by looking at the year that it was manufactured. If you don’t know the manufacturing date off the top of your head, find the Vehicle Information Number (VIN) and type it into an online search engine. The VIN of a vehicle should be able to bring up a variety of information regarding the make and model of your car. If you find that your vehicle was manufactured between 1920 and 1950, you may want to reconsider your idea to sell!

While all cars made between 1920 and 1950 are considered vintage, there are some vintage classic cars that are considered more valuable than others. Many times, the value of a vintage vehicle is determined by the number of units. If you can, use the internet to find exactly how many models of your vehicle were manufactured. Additionally, find out how many are still in existence today. The less models that were made, and the more rare the car is today, the more it will be worth in the sellers and collectors market. » Read more: Vintage Classic Cars – What Makes a Car Vintage?

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4 Car Loan Mistakes That Cost You Money

October 31st, 2011

Here are 4 car loan mistakes that can cost you money when going to purchase a new car. The good news is that with some planning and preparation, you can avoid spending too much money on your next car loan.

Low Credit Score

Having a credit score below 720 could cost you money on your next car loan. Poor credit scores leads to lenders charging you a higher interest rate on your car loan.

To avoid this mistake, obtain a copy of your credit report before purchasing your next car. The credit bureaus do make mistakes and you want to be aware of these mistakes that may be damaging your credit score.

Check to see that no one has been using your credit without your knowledge; this is called identity theft and should be reported immediately. Have the credit bureaus remove these items from your credit report.

Make sure there are no inaccuracies on your report. Look for any loans that are showing up as unpaid when you have actually paid it off and satisfied the loan? Maybe there are marks on the report stating you were more than 30 days past due when that simply is not true.

Make sure none of your old credit cards are showing up as an open line of credit. If you are not using a credit card, contact the credit card company and ask them to close the account. This will help raise your credit score.

High Interest Rate

Shop for the best possible interest rate because the higher the interest rate the more money you will pay over the term of the car loan.

To prevent having to pay a higher rate of interest, do your homework and research the best interest rate possible. There are many sources that lend money for a car loan. » Read more: 4 Car Loan Mistakes That Cost You Money

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