The automotive industry has gone through drastic transformations in the last few years. Nowadays, luxurious cars feature advanced technology while the second-hand car market is on the rise. The endless options of cars have made it difficult for interested buyers to decide what kind of car would be perfect for them. When it comes to buying the car, the biggest decision you will have to make is whether to pick a brand new car from the showroom or head to the local car dealership for getting a rate on used cars. Buying new vs old cars is a question that haunts most people. Whether you are a student heading to college or a salaried professional with kids, the decision of buying a car can have a huge impact on your life. Herein, we’ve shared all the things that you must know before buying new vs used cars. 1. Buying a new car Everyone at some point in time has to decide about buying a car. And given the abundance of cars available in the market these days, the task of picking the one that best suits your personal needs and budget can be quite challenging. Think of the purpose for which you need a car, as well as the budget you can dedicate to its purchase, insurance, and maintenance.

Used car financing tends to be more expensive than that of a new car as it involves a possibly higher interest rate with shorter loan terms. It might come as a surprise, but the logic behind it is pretty simple. Banks risk more when giving a loan for a used car. Loans will typically include an amount in the case of non-repayment, making it higher. In case of defaulting on loans, confiscating a used car is risky compared to repossession of a brand new car, and loans generally tend to reflect this risk. Here are some auto financing tips to keep in mind when applying for finance for used cars: 1. Opt for other possible options When financing for a used automobile, one tip to remember is that there are other options other than a used car loan. Home equity loans, peer-to-peer loans, and personal loans come with lower interest rates than an auto loan for a used car. Whichever loan you end up opting for, always ensure the rates are what you can afford. These loans can save some serious cash when compared to getting a used car loan. 2. Know your credit score This tip applies to auto financing for used as well as new cars.

Auto insurance is no joke. It saves you loads of money and plays an integral part in keeping your finances in check. But on the flip side, bad insurance will cost you a lot of money and give you practically nothing in return. Considering this is such an integral part of buying a car, it comes as no surprise that many common myths are disguised as auto insurance tips. Here are the most common myths about buying auto insurance busted. 1. Red cars cost more A common auto insurance myth is that red cars cost more to insure. This myth is completely false and there is absolutely no data to back this claim up. Insurance companies look at the model, year, miles, etc. to make the decision. The color of the car plays no role in deciding the amount. So, feel free to choose any color that your heart desires. 2. The insurance covers anything and everything Among myths about auto insurance tips, another that is pure falsehood is the belief that insurance covers everything that happens to the car. Although some premiums cover a very comprehensive set of damages, always remember that some things may not be covered. Be sure to read through exactly what your insurance covers and what it doesn’t, to avoid any unpleasant surprises at the end.

When you a car owner, it is only natural that you will crave reliability. Consumer Reports suggest that this is perhaps the single-most-important criterion for buyers of both new and used cars. But, while you may know which cars are more reliable than others, you may still want greater protection. And this is where an extended car warranty comes in. Vehicle contracts for servicing or extended warranties are much in demand these days because consumers want to have complete coverage for their new cars. So, these warranties offer them peace of mind and help to reduce financial risks. A Consumer Report in 2013 revealed that automobile owners usually end up paying more than what they get back in terms of direct benefits. While extended warranties may be beneficial for those selling cars, it is debatable how they benefit car buyers. If you are planning to sell the car once the standard warranty period is over, buying an extended warranty is not worthwhile. However, in case you have it, the warranty may help in negotiations. It might also fetch a better sale value. For those who plan to hold onto their cars for longer than the standard warranty period, an extended warranty is the best option.

You try to make the best financial decisions for your life and your future. One of the big financial decisions we must make is whether to finance or lease a new car. In the debate on car finance vs. car lease, the decision on which option to choose depends on your needs. Whatever you choose, you need to be aware of how it works. This article explains the process involved in deciding whether you need to buy a car on finance or take it on lease. 1. How car financing works If you are going for car financing to source money to buy your new car, these tips are what you need to keep in mind. Firstly, you need to decide where you will get financing. It could be from the car dealership itself, from a bank or credit union, or online lending institutions. While financing from a dealer can be fast, it may not offer the best rates. You need to shop around and compare interest rates before you decide where to get financing. Your credit rating will influence the interest rate. For example, a credit score of more than 720 can get you an interest rate of around 6.67%.

SUVs consistently score high in popularity among people around the country, particularly for families. You can find SUVs in a variety of sizes and prices, ranging from smaller models that are not much larger than subcompact cars to extended-length larger vehicles that use pick-up truck hardware. If you prefer to invest in an SUV because of its many features like elevated ride height, off-roading powers, and all-wheel-drive, there are many models that you can choose from: 1. Porsche Cayenne The third-generation Porsche Cayenne is one of the top SUVs of 2019 and rather appealing; it looks simple on the outside but has spacious interiors. This SUV is rather sleek in appearance; there are however no flashy protrusions or complex lines. The vehicle has newly-designed taillights that encompass the logo inside. The dashboard has no unwanted contours and the leather interiors gives it a luxurious feel. The seats offer a lot of support but aren’t tight so as to make the occupants feel uncomfortable. There’s an ample amount of headroom and legroom, even for tall passengers. There are multiple driving modes, even an individual setting that you can customize using a few parameters. The home screen offers infotainment and is highly responsive, booting up fast as soon as the car is started.

It can be hard going back to a regular car once you’ve experienced the extravagance of a luxury car. The exclusive driving experience comes with a hefty price tag for the initial purchase and ownership costs, but they more than make up for that with their superior comfort and safety features. Luxury cars are known for their thoughtfulness of design, opulent atmosphere, and prestige of ownership. Before you start shopping, here are some important factors to keep in mind when buying a luxury car: 1. Equipment list One of the first things to consider when buying any of the top luxury cars of 2019 is the equipment list. The features that you would most likely expect a luxury car to have are genuine leather upholstery, metallic paints, advanced safety equipment, etc. Most of the additional features will be much costlier compared to the same features in regular cars. It’s best to consider Japanese and American brands as there are fewer trim levels and limited packages, allowing you to make a decision faster. German makers offer multiple versions and trim levels and a huge list of options. Many of these high-end features can add to complications instead of actually proving to be beneficial.

The most considered feature of any automobile is its fuel efficiency. Apart from powerful performance and cost, fuel-efficiency is the topmost priority as it affects your daily expenses. Whether trucks are used for a daily commute or rare long drive fuel efficiency plays an important role while you consider buying a truck. Here is a list of top trucks of 2019 with excellent fuel efficiency: 1. Chevrolet Silverado 1500 It is designed with a power-packed 2.7-liter four-cylinder engine that increases fuel efficiency. It gives an approximate mpg of up to 21 miles combined and provides 20 for city drives and 23 on highways individually. It also features 8-speed automation and 7,000 pounds of towing capacity. 2. GMC Canyon With one of the highest towing capacity of 7,700 pounds, it also features a great fuel-efficient engine. It has a 2.5-liter four-cylinder engine which gives an approximate of 22 mpg combined. It provides a mileage of 22 in the city and 26 on highways. It is also available in both automatic and manual transmission. 3. Chevrolet Colorado It features a 2.5 liter 4 cylinder engine, which is available with six-speed automation in both manual and automatic transmission. It has a fuel economy of 22 mpg combined which provides a mileage of 20 in the city and 26 on highways.

A recreational vehicle, commonly referred to as RVs, is an umbrella term for a motor vehicle or trailer that offers living areas, sleeping, and travel options. The whole concept of an recreational vehicle RV is to provide accommodations to those looking for travel and adventure. Recreational vehicles truly come in all shapes, sizes, and with all sorts of features. Investing in the best rated family RV can be a huge addition to any lifestyle. Here are the best-rated RVs in America: 1. Keystone Passport 292BH Grand Touring This is definitely one of the best-rated family RV options due to the amount of sleeping quarters the trailer has to offer. The Passport offers a private main bedroom, common area, sit-in kitchen table, standard kitchen, standard bathroom, and bunk beds near the rear. These camper options can sleep up to eight people at any given time. Listed at around $28,500 the Keystone Passport 292BH Grand Touring RV is a steal for all of the features that clients will receive. 2. Shasta Oasis 18BH Travel Trailer Featuring a full kitchen, common area, dining room table, bunk beds, a full bathroom, and an assortment of upgrades; the Shasta Oasis 18BH Travel Trailer makes the list as number two for the best-rated family RVs.

Owning a sports utility vehicle (or SUV) is the desire of many busy families. SUVs offer the convenience and durability to drive on almost any road. Plus, these vehicles offer enough space for large families, pets, groups of friends, and extra cargo on board. However, the great thing about SUVs is they maintain fuel economy levels alongside offering powerful engine capacities. Here are some of to rated SUVs of 2020: 1. Ford Escape The 2020 Ford Escape can carry 5 passengers with everyone having enough leg and head-room. The trunk has ample space for cargo, and you can even fold the back seats in case you need more space. You get an upgraded digital touch screen display compatible with Android Auto, Amazon Alexa, and Apple CarPlay. It provides relevant information as you drive, and it’s directly in line with your sight. Additionally, you get the Ford Co-Pilot 360 safety feature with tools such as blind-spot monitors, lane assistant, collision warning, automatic high beams, and emergency braking. Key features include: Spacious trunk Improved infotainment system Powerful turbo-four engine 2. Hyundai Santa Fe The Hyundai Santa Fe comes with a stylish interior that provides maximum comfort with features like heated seats, keyless entry, panoramic sunroof, and more.