Everyday Things That Will Ruin Your Car

You may already know the proper way to take care of your car. Remembering to take your car for maintenance repairs is extremely beneficial to your car. Other than crashing our cars, there are everyday things that we may do that will damage our cars.

Here are just a few common things that we do that ruin our cars:

Parking brakes – Not many of us use our parking brakes. We should remember that parking brakes are very valuable. When we park on an incline without using our parking brakes, we’re actually putting all of the stress on the transmission. When a parking brake is used, it locks the non drive wheels as well as the drive wheels and takes the stress off the transmission adding years to the life span of your cars transmission.

Brakes – When driving down a hill, you should not keep your foot on the brakes. Riding your brakes down a hill will wear out your brake pads quickly. This can also cause problems with your tires if you’re constantly riding your brakes down the hill the entire time.

Engine – 50% of all engine wear occurs in the first few seconds after you start your car. Revving your engine when you start up the car does damage. It takes more time to warm up the engine when your car is sitting idle so you should drive your car gently for the first five minutes until your car is warmed up.

Shifting – We’re usually in a rush and most of us make this mistake but we need to try having our car come to a complete stop before we shift gears. This adds months of wear to your transmission in just seconds. Not only does it damage your transmission but can also damage your drive shafts which the thing that sends power to your wheels. After a while, it will also affect your suspension handling.

Oil – Changing your oil every 5 thousand miles or when your owner’s manual suggests is important. Doing this will increase your cars performance and may double the life span of your car.

There are many things we do every day without realization that can affect our cars performance and life span. 

Prudent Video: How to take care of your brakes

Remembering the above simple things will help. There are also many other things that will help even if it’s minimal. Things like not ignoring your cars sounds, turning off your radio, wipers and temperature controls will all make a difference.

For more valuable tips and information, please visit www.facebook.com/prudentvaluecars

Teenage Car Crashes – Is Weather Really A Factor?

Every time we get behind the wheel of a car, we begin a risk assessment process. We look both ways, determine the speed limit on rainy days or determine whether we can accelerate and go 10 over the speed limit. If you’re an adult, you most likely have years of driving experience so the process is quick.

Teenage car accident statistics is scary. Parents have heightened anxiety when their teens are ready to get behind the wheel. With a teenage driver, there is a lack of judgement. They don’t carry the same experience as an adult would and the chances of making poor decisions based on emotional and impulsive behavior is a lot greater as a teen. This inexperience puts teenagers at a greater risk for car crashes.

During the first 500 miles that a teenager drives, crashes are 10 times more likely than for an adult driver. Teen drivers make up for 7 percent of licensed drives and account for 14 percent of the fatalities in accidents and 50% of those deaths occur on the weekend.

We’ve heard time and time again how dangerous cell phones can be while driving. Inexperienced drivers SHOULD NOT be on their cell phones chatting or texting while behind the wheel. Teenagers are pretty connected nowadays so it’s pretty hard to get them off their phones. We should increase our education to our teenagers about how fatal cell phones, not wearing seat belts or drinking and driving can be.

We need to stress the importance to our teenagers that they are not invisible. Being distracted by loud music and a car full of friends may seem like a grand time but being a responsible driver will keep them safe and alive to enjoy many years with their friends and music.

Parents and educators need to be more strict. We need to alert them of the risks of distracted driving, the risk of using their cell phones while driving and the risk of speeding. Our teens need to stop making the same mistakes that have lead to many teenage deaths.

So as parents, how do we do this? We reduce the risk by setting limitations. We restrict the number of passengers allowed in the car, determine the responsibility and restrictions on the times the car can be used.

Always remember, it’s your car and your rules. Safety comes from us as parents first. For more valuable tips and information, visit www.prudentvaluecars.com

Can You Borrow Against a Car ? A title loan.

If you are a car owner with bad credit and are in need of a loan, borrowing against your car is an option for you. This option provides instant cash relief that allows you to borrow against the title of your car based on the car’s market value. The main criteria to borrow against your vehicle, is to show that you have a clear title to your car and that it is fully paid off.

It’s important to understand that because you are borrowing using the equity in your car as collateral whether you have good credit, bad credit or no credit at all, it is not an issue, however, the vehicle can and will be repossessed if you default on the loan.

As always, any kind of loan has its' pitfalls and positives.  Borrowing with your car can provide you with instant cash relief.  If you pay the loan back in a timely fashion without missing payments, you'll also work towards restoring your credit, provided the lender is an accredited one that reports your loan payments to Equifax.

Here are some benefits to acquiring a car title loan:

· It offers personal loans to people with good or bad credit histories or no credit history.

· It’s a long term alternative to payday loans.

· Can be used to consolidate debt when you don’t have a home.

· Can be used for emergency funds such as repair loans, home improvement loans, medical expenses and student loans just to name a few.

You should research before borrowing against your car. Prudent Financial Services has the best interest rates in the financial industry which lends to people with bad credit histories in the GTA. And as mentioned above, your loan can also help repair your credit. For more information visit www.borrowwithyourcar.com

Some of the Most Common Distractions While Driving

Driving is a luxury that needs your full attention. When you take your eyes off the road, your mind off the road and/or hands off the steering wheel you are involved in distractions. Anything that prevents you from operating your vehicle safely is a distraction. Distractions are the leading cause of accidents and some may even be fatal.

What are some of the most common distractions when driving your car?

Technology – We are all aware how dangerous using your cell phone while driving can be. Using a hand held or hands free phone does not eliminate the distraction by much and can still turn fatal. If you must answer your phone, then it’s wise to pull over. Although using your cell phone is a major distraction, it’s not the only technology distraction there is other than a laptop. Vehicles are more advanced nowadays and messing around with your radio, GPS or DVD player can be just as distracting.

Passengers – If you have children, pets, family or friends in the car, they can be very distracting. A car full of friends with loud chatter around can cause you to lose focus on the road. Children should be taught that driving is important and you need concentration in order to drive. Give them something to distract them while you drive. Trying to handle your children and looking back even for a second can cause a serious accident and endanger not only you but your children. Make sure your pets are secure in a carrier or harness and not sitting on your lap.

Looking – It’s important to keep alert at all times. Applying makeup, reading or eating are also common distractions and are just as bad as texting while driving. There is more than one distraction going on, for example, your hands are off the steering wheel and your eyes off the road.

There are also some less obvious forms of distractions such as strong emotional turmoil and daydreaming so it’s really important that you observe while you drive. Our mind is not capable of handling multiple things at one time and be 100% focused on all the things. If you feel that there is something important that you must deal with then it’s always smartest to pull over and deal with the issue. Be proactive and make your driving experience a more comfortable experience.

For more valuable information visit www.facebook.com/prudentvaluecars

Fighting Parking Tickets Today In Toronto

We all at some point in our lives have walked out to your own, a friends or family member’s car and have seen that bright yellow ticket flapping from the windshield. The pain of a parking ticket is not so much the monetary value but if you feel you need to fight it then you know that entails frustration and aggravation.

Most of the time, we will pay our parking tickets just so we won’t have to deal with ordeal of fighting them. This is what the city wants. The city wants us to pay our parking tickets and not fight them but sometimes the principal is to strong that there’s no choice in the matter.

So what happens when you want to fight a parking ticket?

You have 15 days to go to one of the four court offices and wait in a long line in order to request a trial. However prior to that, you’ve had to pay for parking, you’ve had to schedule time off work, use your lunch hour, hire a babysitter or worse take your baby with you in order to schedule a trial. This is so nerve wrecking that most people would ignore the ticket and just pay for it when they need to renew their sticker.

Toronto issues about 600 hundred thousand tickets for parking meter violations each year and about 40 thousand are not valid violations.

There is a new option in place and that is to fight your parking ticket electronically, via email or fax. This is only available to parking meter infractions. In many instances the police officer didn't see the ticket, read the time wrong, the pay and display meter printed the ticket incorrectly, the customer put it in their pocket or purse in a rush but will have proof that they've paid. In cases where the meter is broken and you don’t have a camera or phone handy, this new system will not work, you must still visit one of the four offices.
If you've sent proof and it wasn't enough, you do have the option to fight the ticket at a trial but that also you’ll have to do in person.

You can find out more about this new program on the City of Toronto parking ticket disputes website and for more valuable information and tips, visit www.prudentvaluecars.com

How Much Can I Afford For A Car?

When we want to buy a car the first thing we should ask ourselves is, How much should I spend on a car? Most of us will finance or lease a car which means that we’re driving cars we can’t really afford but making the payments thinking that we can. This means that if we had to pay $50,000 for the car outright, most of us couldn’t. Cars in all honesty are not the greatest investment because cars constantly go down in value but it makes our lives easier so how much should we spend on a car?

Whether you have a home that is paid off or you few monthly bills, the basic rule is we should not be spending more than 20% percent of our monthly income. You need to include all car payments in your household. You should also keep in mind that the amount that you can spend on a car should depend on more than just the purchase price. You need to factor in the cost of insurance, gas and maintenance.

First you need to consider your debt ratio. This is the percentage of debt to assets you own. You will take your total debt and divide that number by your total assets. The lower the number the better. Next calculation will be the car price to equity ratio. This is where you take the final price of the car and divide it by the total number of assets you have in the bank again the lower the number the better. If the number is too high, then you are buying too much car. The final calculation is interest and principal. Every car loan comes with interest. The key to this is to make sure you can afford your monthly payments. Let’s say that you purchase a car for $25K and got an interest rate of 5%. You would multiply .05 x 25,000 and the total of $1,250 is roughly the amount of interest you will pay annually. Your combined principal payments plus your interest payment should not be more than 20% of your monthly net income.

If you are buying a new car, it is important that you pay off all short-term credit card debt. If you have more debt than assets in the bank then you should consider buying a used car if you must have a car at all. Visit Prudent Value Cars at www.prudentvaluecars.com where our vehicles are top quality, pre-owned cars and trucks with low kilometres. We offer flexible financing for all kinds of credit and zero down for qualified customers.

Understanding Auto Insurance Coverage

Everyone who drives a car in Canada needs car insurance. It is required by law. When you buy car insurance, you are buying a policy. A policy is based on several different factors and is actually a package of different types of insurance coverage.

Your insurance policy will cover you for expenses such as medical treatment and care, legal costs, property damage and loss of wages if you’re involved in a car accident. When choosing a coverage package, you can choose different levels of coverage depending how much protection you want.

The premium is the amount to be paid for your car insurance policy. The cost is different for every individual and is based on a variety of factors such as:
• The make and model of your car
• Your driving record
• Your insurance claim record
• Your level of driving experience
• Your age
• Where you live
• The distance you drive to and from work.

Insurance companies offer various types of coverage and they are as follows:
Liability – This coverage pays for accidental bodily injury and property damages to others. Injury damages include medical expenses, pain and suffering, property damages and loss of wages.

Collision – Protects your car against damage caused by impact with another vehicle or an object such as a guard rail.

Comprehensive – This covers fire, theft, vandalism and damage caused by natural disasters such as tornados, floods and ice storms.

All perils insurance – combines the coverage provided by collision and comprehensive insurance.

Specified perils – protects your car against specific types of danger such as theft or attempted theft, some natural disasters and riot or civil disturbances.

There are several things that can bring your car insurance premium cost down:
• Have a clean driving record
• Take driving courses
• Combine insurance policies
• Carpool or drive less
• Purchase a low profile car Now just might be time to refresh your memory on where your policy stands.

For more valuable information and tips, visit www.facebook.com/prudentvaluecars

The Truth About Car Leasing in 2011

As recently as 2008, Canadians enjoyed significant competition in the automotive industry. To stay competitive all of the automakers began offering incredibly low lease rates and incentives to increase their market share.

As you are probably aware, when you purchase a new vehicle, it immediately depreciates in value as soon as you drive it off the lot because it “becomes used”. Some vehicle values can depreciate in value as much as 30% when purchased new. This is why a vehicle is considered a depreciating asset.

Previously, if you had leased a car at 1% or 2% interest you could return it in four years or buy out the lease. So what’s changed?

1. Some dealers like Chrysler (Chrysler Financial) no longer offer leases
2. Other dealers only offer low lease rates on promo vehicles and in the case of Ford, in Feb 2011 their lease rate on the popular Ford Edge was 5.99% (that is really high for a lease)
3. Some new car dealers are offering less residual buy out value on their vehicles (you pay more in lease payments)
4. Some dealers like Kia offer a minimum lease term of 5 years
The only other option that the new car dealers seem to be offering is new car financing over 72 to 84 months. The fact is that they have to stretch the financing over that long to even get to payment on a new vehicle, to an amount that most consumers can afford. The question is, does a 6-7 year car loan make good financial sense? I mean it’s like taking out a mortgage on a car.

If you can’t afford a new car payment financed over 4-5 years than quite frankly you can’t afford a new car. That doesn’t mean you can’t finance a car that meets your budget, and is almost new. Dealers like Prudent Value Cars sell quality pre-owned vehicles and arrange the loan financing over 3-4 year so at the end of your loan, you own something that still has value. For more information please visit www.prudentvaluecars.com