Buying repossessed (repo) cars can save you a fortune but you should try to find out if you are getting a good deal. Many lenders are allowed to repossess cars if their owners have failed to make their payments. However, it is in the lenders best interest that the car owner makes payments as they depend on the interests on those loans for their profits. As such they will work for months with the car owners to make sure they can still make payments. There is often a ten-day grace period given to owners after defaulting so they can try to pay the installments. Once the owner is served with the repossession papers, he becomes negligent. He might dismantle the engine, rip out upholstery, or may neglect the upkeep of the car.
So, if you are planning to purchase a repo car on sale, you must follow the below-mentioned tricks.
Purchase from the lender directly
In case of a repo car sale, you must try to purchase the car directly from the lender. The bank or credit union will allow you to inspect the repo file, which lists all the cars that have been repossessed. The bank usually wants to recover its losses so they might even provide financing for the car, which you are going to purchase. However, the bank does not bother itself with repairs and maintenance, so be sure to inspect the car well. When making a bid, ensure that you look at the NADA guide. If you do not know much about cars, get a mechanic friend with you who can take a better look at the car.
Repo reseller service
You can also purchase from a repo reseller service. They usually take many repossessed cars from the bank as inventory and help move them. The reseller will have to incur some expenses before the car is moved to his lot. However, he would not be inclined to tack on heavy margins as it is a volume game and he needs to move as much inventory as he can. The reseller will also ensure that the car is in good condition. Try to make a bid a little over the minimum and avoid paying inspection fees or any other unnecessary charges.
Used a car dealer service
Try to buy a car from a used car dealer service to avoid auctions. They make some improvements to the car such as better tires and mats, among others. It is important to research and then buy the car. These car dealers sometimes also give a 30-day warranty.
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4 ways to protect your kids from cold and flu
Read moreDue to their relatively weaker immune systems, children are most susceptible to cold and flu. This is especially true when the season is a bit chilly, and there is a slight nip in the air. Here’s what you can do to ensure your child safe from viruses and infections that can cause cold and flu.
- Eat a healthy diet: Make sure that your kid’s immune system is strong enough to fight infections and viruses. A healthy diet is crucial. Also, don’t forget that they should keep themselves hydrated by drinking sufficient water. Boil a liter of water, cool it and then give it to your kid. When it comes to diet, add a lot of fruits and veggies to the diet. This should include food items that have a high content of vitamin C.
- Maintain hygienic habits: It is necessary to maintain habits of utmost cleanliness and hygiene to stay away from cold and flu. Ensure that you child follows a daily routine of having baths on time, washing hands, and drinking clean water.
- Beat the mosquito attack: If your kids love playing outside, they might be at the risk of being exposed to mosquitoes and other bugs and insects that can potentially carry cold and flu viruses. Ensure that you maintain a clean environment to keep these insects and bugs at bay.
- Try home remedies: When you notice the first signs of cold and flu in you child, use home remedies such as ginger juice and honey to treat sneezing and other early symptoms of cold and flu. If the symptoms persist for more than two days, consult a doctor. Along with doctor prescribed medications, you can follow certain natural remedies that can make your child’s immunity system strong.
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Why prefer an All Wheel Drive (AWD)?
Read moreLet’s get this straight. All-Wheel-Drives (AWD) are not for all.
The AWD is a design and function where all four wheels spin all the time which gives an added traction to the automobile. Unlike the 4WD where you can shift from a two wheel drive to a 4 wheel drive, the AWD vehicles operate on a permanent drive. AWD’s made their first appearance during the late 1930s when General Motors first introduced them. Today, the AWDs have decked up a lot of technological improvements ranging from advanced traction controls to electronic systems and bold vehicle design. They have earned a separate genre among automobiles making them a necessity in certain types of terrain and climate. However, for anyone thinking of buying one, there are a set of pros and cons to consider.
Traction
Upside: The extra traction is needed for an efficient drive over the rough and slippery terrain. The AWD is usually preferred in places of harsh winters and slippery terrain. During times of a sudden snowstorm, one can feel safer in getting back on an AWD.Downside: Experts say that good traction help in moving over slippery surfaces and cutting corners but is not enough. A set of good snow tires and suspension are the fundamentals of the physics of optimum vehicle control.
Design
Upside: The AWDs design offers a huge space for at least 6 passengers and their luggage. Some of the AWD’s can carry up to 8 passengers and luggage efficiently. The vehicles are designed to drag weight across rough terrain ensuring safety to passengers. The modern all-wheel-drive design offers electronic stability control which gives more control to the vehicle.Downside: Due to the heavy weight and complex engineering, the AWDs are not fuel efficient. The AWD gain more power by during more fuel than the two wheel drives.
Money
Upside: The AWDs have a good resale value than the two wheel drive cars. You cannot me promised of a 100% resale value but your car will easier to sell for a better price than a two wheel drive. People living in the northern climate do not have to think about resale.Downside: The reason why the AWDs have a good resale value is due to their high cost of purchase. Many AWD manufacturers charge a premium between $1500 and $3000. The AWD are expensive to maintain as they have a more complex engineering.
The final verdict is that you need an all-wheel-drive if you are living in harsh winter storms and have to travel through slippery roads. But if you are in places with milder climates, the AWD might not be the right fit.