There are only a few car buyers who can afford a brand new car by purely paying cash. A majority of people choose a car loan for buying a car. But obtaining a car loan is not so easy because it comprises a number of crucial steps before the loan is finally approved. Moreover, any errors in the application can be the ultimate cause of loan rejection. This article deals with the prominent and coherent steps to follow while obtaining an auto loan: 1. Examine your credit score Your credit score is an integral factor for any kind of loan. Poor or lower credit score raises the probability of rejection. So, whenever you are thinking of buying a car, you must check your credit score. This can be done through Credit Reporting Companies and software. Some such companies are Equifax, TransUnion, and Experian. The credit score is even represented as a FICO score for the sake of the lenders. A credit score greater than equal to 720 is outstanding, wherein the person can get any loan in a hassle-free manner. 2. Search for excellent financial deals After checking the credit score and your eligibility criteria, it’s time to search for an excellent deal.

One can learn car leasing the hard way or avoid the hardships by diligently doing their homework on car leasing. It is simple in concept, but complex in practice. Conceptually, you can lease a car, use it for the period of the lease and return it or buy it for the residual price. However, it is easier said than done. The lease agreement is to be negotiated hard at every step and written down in the agreement. The deal you land up with is credential to the negotiating process: 1. A car is leased for personal or business use One advantage of car leasing is you can have any car you desire to drive or own. You can enjoy a new car every 3 to 4 years at low investment. In certain conditions, car leasing is a win-win situation for both. 2. Lower monthly payments The lease amount is the difference between the original price and the residual price at the end of the lease period. The monthly lease amount is usually less than the loan repayment amount. The sales tax is only on the lease installment and not on the whole price as is the case in the loan.

For those who want to own compact cars which exude class, the hatchback is a perfect choice. It does not have the bold, brute image associated with SUVs and neither does it have the quiet luxe of a sedan, but it comes with its own set of advantages. The hatchback is a perfect car for individuals or small families since it has enough space to suffice for road trips, and is small enough to fit into the tiny space left at the mall parking lot. What’s more, you don’t just spend less on the vehicle as an investment, you also have less operational costs with the fuel efficiency it brings. If you are looking at buying a hatchback in 2021, the following are the top hatchbacks: 1. Hyundai Veloster With asymmetric side doors being the main attraction, it catches the eye with its single long door on the driver’s side and two doors on the opposite side. There is the added attraction of a 201-hp turbo engine, 18-inch performance tires, and B&M short shifter. The handling is improved with multilink rear suspension and automatic emergency braking. It not just looks funky but is startlingly efficient with its pickup and sound system.

Vehicle donation is a practice prevalent in the US, and some other countries, wherein you can give away your old vehicle or any unwanted car to charitable institutions and get a tax benefit on it. It is a great venture that helps the needy to get vehicles and is beneficial for the individual too as he gets tax deductions on it. Let us find out all that there is to know about vehicle donation in the U.S.: 1. Get a tax deduction Vehicle donation is an easy and fast way to dispose of an old car as donors only need to fill in the donation form and fulfill specific post-donation requirements to be able to get tax benefits. It includes itemizing the tax returns and also getting a written acknowledgment on the subsequent sale of the car. If the vehicle is less than $500, then the value of the car during the sale is based on the owner’s estimate, even if the charity gets less money from the sale. However, if the car is valued at more than $500, then the car is usually sold through an auction. For such vehicles, the taxpayer needs to attach the charity’s written acknowledgment to the tax return.

Baby-proofing your car is an absolute necessity and no compromise should be entertained in this area. Most new parents do their due diligence to babyproof homes before bringing home a new baby, but many forget this safety should also extend to the car. Annually in the U.S. thousands of children are put at risk of vehicular injury, heat stroke, and even death because of lacking car safety. Here are some simple ways to baby-proof your car: 1. Find a baby seat One of the most important ways to baby-proof the car is to find the right car seat: one that will fit your baby snugly, one that is durable, and easy to install and uninstall. Ensure that the child or the baby never travel in the front of the car, especially if the car comes equipped with airbags. 2. No toy zone While it is quite tempting to take toys while traveling in order to keep the children occupied, it is generally suggested that toys in the car are a no-no. If you wouldn’t like getting hit in the head by a toy, the rule is don’t take it in the car. In the event of a crash, these toys can become mini projectiles and can cause serious harm.