What Happens to Your Car During Bankruptcy?

Bankruptcy is a difficult, emotional process that will burden you with stress and worry. But, sadly, it's often one of the best choices for those facing serious financial hardships. You'll probably have a ton of questions if you're thinking about filing for bankruptcy, one of which is what happens to your car. Transportation is a must for most Canadians, and understanding how a bankruptcy affects your vehicle is important. There are a few variables that will change just what happens to your car during bankruptcy.

Two things will be looked at in relation to your vehicle when you file for bankruptcy.

• • The first is just how much the value of your car is. You'll have to get an independent appraisal to turn in to the attorney or trustee handling your bankruptcy.
• • The second issue you'll need to address is whether or not you have any liens against your car or if you own clear title for the car. If you have a lien against the car, your creditor will turn in their claim to your trustee. The priority claim is the one that will be dealt with first.

If your vehicle is valued at or above what you owe you may have the option to continue making payments. If it is valued lower than the amount that you owe, you may be able to negotiate with the creditor to pay them the fair market value of the vehicle. If not, they do have the right to repossess the car. They can also do so if you decide not to make payments, regardless of the total amount owed. If you owe more than the fair market value for your car, it's unlikely that your creditor will accept less.

In the event that your car is repossessed but is worth less than you owe, the remainder of your balance will be structured into your overall bankruptcy proceeding. However, if you have clear title to the car you will still be required to pay the trustee the market value or surrender the car to them to help pay off your loans. Cars worth less than 5,650 dollars which have no liens are exempt from this and you will be allowed to keep them. You may be able to pay the difference in value, such as paying 1,000 dollars if your car is worth 6,650. In short, the odds are that your car may be lost in a bankruptcy proceeding. But in some cases, it's simply the only way. 

For more valuable information, visit www.prudentvaluecars.com

Hybrid Versus Gas – What are the Pros and Cons?

There's a lot of talk today about the ever rising gas costs facing us, along with the damage we're doing to the environment through the greenhouse effect. These are two of the main issues that are driving the increasing popularity of hybrid vehicles. Using a combination of electricity and fuel to power themselves, hybrids have long been touted as the best way to drive. But if you're one of the many who remain unconvinced – and even if you aren't – it's a good idea to look at the pros and cons of both hybrid and gas powered vehicles to help decide which is right for you.
So what advantages does a hybrid hold over a purely gasoline driven vehicle?

Cost is a major one, and you'll save on fuel since the hybrid doesn't rely solely on gasoline and will get far better gas mileage.
Five Canadian provinces are offering a one-time tax rebate if you buy a hybrid. Manitoba, Prince Edward Island, Ontario, Quebec, and British Columbia all offer tax credits or rebates of between one and three thousand dollars.

The Vehicle Efficiency Initiative offered nationwide provides as much as a two thousand dollar tax rebate when you buy a brand new hybrid.

Here are a few main drawbacks to owning a hybrid.

There's a good deal of discussion going on at the moment about the cost of upkeep and maintenance for a hybrid vehicle.
Not all mechanics are even qualified to work on them, and there's a good chance that you may pay a little bit more for services.
The initial purchase price for hybrid vehicles is normally somewhat higher than that of gasoline only cars.

Additionally, the parts of Canada that get large snowfalls may not be the best place to own a hybrid.

Auto insurance doesn't really differ much from hybrid to gasoline vehicles, and rates aren't affected by the type of engine your car has. Most drivers agree that they drive and handle the same as well, although hybrids typically have a bit less room inside. If you're interested in saving money on fuel and helping the environment, hybrids are the right choice for you. The tax incentives offered by the government help offset their slightly higher costs, and you'll pay no more for insurance when driving one. The choice is ultimately up to you, but these facts should help you decide. 
For more, please visit www.prudentvaluecars.com

Getting a Mechanic You can Trust to Save on Car Repairs

Your car is a vital part of your life, and unless you live in an area with effective mass transit then you probably utilize it on a daily basis. And when your car breaks down or needs regular maintenance, you really have no choice other than to have it done. Unless you know how to repair it yourself, your only chance for saving on car repairs is to find a mechanic you can trust. There are plenty of jokes about mechanics and how they can take advantage of their customers thanks to the fact that those customers have no option other than to trust them, but in some cases those are much more than just jokes. Do some research to protect yourself.

Take a look at consumer sites like APA.

They post lists of reputable mechanics and repair shops for you to review. If the mechanic you're thinking of using isn't on the list, you may want to consider visiting another one. Their own tests found that thirty percent of repair shops they visited failed their simple tests. Those that passed will be on the list. Even if you live in an area that hasn't been reviewed by sites like these you still have a couple of options available to help you with the task of saving on car repairs.

A study in Calgary involving thirty different garages found that only eight received a passing grade. The rest failed to notice issues or charged extra prices for work that simply wasn't necessary. Because of this, customers could end up paying hundreds of dollars that they don't even need to spend.

Find repair shops that offer free inspections, or at least very cheap ones.

If you can get an inspection and estimate of repair costs from a few different shops then you'll be able to compare each one to see which seem to be trying to make unneeded repairs as well as which ones are trying to overcharge you. It may be a hassle you don't want to deal with, but driving to a couple of different mechanics could end up saving you hundreds.

There are a few points that can help you with saving on car repairs, and remembering them is important whether you need a brake job or a transmission repair. For those in a financial bind those hundreds can be the difference between making the rent or falling behind on it. 

For more information visit www.prudentvaluecars.com

The Issues that Affect your Rates with Car Insurance

Car insurance is a must.An accident without insurance can be a huge financial burden, and driving without insurance is illegal in most places.Most people today are dealing with financial difficulties and finding ways to save money is important.Car insurance is one area that you may be able to save money on, and many people don't realize that there is a huge array of different factors which affect your insurance rates.Knowing the various things that can drive up your premiums may help you keep your monthly payments low and make it easier to make the rent or put groceries on the table.

First of all, there are a few basic things that you can do which will change the price you're paying for car insurance.The most obvious is simply to maintain a clean driving record.Avoiding accidents, tickets, and building up a solid history of safe driving experience will help tremendously.In fact, in most cases the longer you've driven, the lower your payments will be.Even your car can affect your car insurance payments.A fast, flashy sports care will cost more to insure than a sedan since there's a greater risk associated with it of both theft and accident.

You should also take the time to shop around.Simply taking the first quote you're given is the best way to pay too much for car insurance.Instead, comparison shop and get as many different quotes as you can so that you can compare the price of all of them and find the best option for you.Be sure to ask about discounts as well since most companies offer discounts if you bundle insurance coverage, have passed a defensive driving course, or have been with them for years.It never hurts to ask about discounts, and you may very well be able to save money.

Another thing that has an effect on the cost of your car insurance is to adjust your deductible.If you have a high deductible, you'll have to pay more out of pocket in the event of an accident before your insurance company will start to pick up the bill.This added risk on your shoulders can lower your monthly premiums and make it easier to pay all of your bills each month.The specific of your coverage will also affect the price you pay, and dropping unneeded features could save you money.A number of issues will affect your car insurance bill, and knowing them could help you save big.

For more, please visit www.prudentvaluecars.com

Buying and Selling a Used Vehicle in Ontario make it a Safe Transaction

If you are going to buy or sell a used vehicle in Ontario, you should be aware that the law requires you to provide a used vehicle information package for the buyer. This protects both the buyer and the seller in the case that there is damage to the car or there is a lean against it. That way it becomes clear which problems came with the car and which problems arose after the car transferred ownership. Getting a history of the car is another very important step for someone buying a used vehicle whether they are buying it directly from the owner or from a dealer in used vehicles.

Are you planning to buy Smaller Car  in Ontario?

This information package should require a variety of different information including registration history, odometer information, year, make, model, mileage and the status of the car (if it has been in an accident or not). There are other things that are required as well and if any of them are missing, it should be cause for alarm. Every person who wants to potentially buy a used vehicle should insist on doing a test drive to make sure the vehicle is in good enough condition to drive safely and effectively. There are some problems which might be apparent in the test drive that would be warning signs that something might be wrong with the vehicle.
Thoroughly check the vehicle before purchase 
One of the warning signs is if the vehicle turns or pulls to one side or if the brakes squeal. Strange exhaust, strange smells, and strange sounds are all cause for alarm. It is best to inspect a vehicle in the daylight so never agree to meet a car salesman after dark. A rough ride is another problem that might indicate that the shock absorbers have worn off and need to be replaced. There are legal ramifications for tampering with any of the required elements of selling used cars in Ontario. It is also illegal to tamper with the odometer so be sure the mileage in the report matches what the mileage on the odometer reports. Another great idea in the GTA is to ask to see that it’s passed an emissions control test.

Prudent Value Cars- A Quality Used-Car Dealership

Obtain a buyer's checklist from a government site in order to be sure that you have completed all the legal steps for buying the car and transferring the ownership. There are many people who are dishonest, unfortunately, so you want to be sure that you are not buying a car from one of them. Use your instincts and educate yourself. If something seems off, or if something seems too good to be true, it probably is. The best course is the legal and safe course when buying a used car.



For more, please visit www.prudentvaluecars.com

OMVIC Can Help If You Have a Dispute after Purchasing a Licensed Vehicle

The Ontario Motor Vehicle Industry Council enforces the Motor Vehicle Dealers Act that is sometimes shortened to the acronym MVDA. If a car dealer has told you a lie about a vehicle you bought, what rights do you have as a consumer? The Ontario Motor Vehicle Industry can get involved to help if you have been badly taken advantage of, but it is important to note what you should do, so you can help yourself before needing to contact them. While Ontario Motor Vehicle Industry Council can't do anything about private sates and independent repair facilities, they can help with problem resolution for registered dealers and cars that have manufacturing defects that are not more than five years old.

The Motor Vehicles Dealers Act will help you, if you qualify for arbitration, in resolving problems that are stipulated in the act so that you have support, if you were not able to come to an amicable resolution to the issue at hand. But first, you should try to work things out with dealer. Trying to work out a reasonable solution is a good first step to take. You should be careful to be clear and specific about the outcome you desire and the details you are not content with. If you are willing to go to court, the court can order that the dealer compensates you if you win your case, but you may be able to avoid the courts altogether through good mediation and conflict resolution. Make sure your documentation is as detailed as possible in writing, so that if you need to proceed to court you have all possible information at hand.

How To Avoid Curbsider While Purchasing A Used Vehicle? 

You should avoid doing business with curbsiders. Curbsider is the name for car dealers who are not registered with the OMVIC and do not have a license. The Motor Vehicles Dealers Act applies to registered dealers only. When purchasing a vehicle make sure to always keep a record of everyone you speak to incase you need them later or if something is misrepresented. Be sure to record what they say to you and the verbal promises made. It is a good idea to send an email that confirms what was said after the conversation is over.

The Ontario Motor Vehicle Industry Council isn't able to force either party in a dispute to come to a solution. However they are able to advise both parties of their rights and obligations under the law. They can also advise on how a court of law might view the case. The most important thing to remember is that it’s always easier to back out of a potentially shady deal than it is to try to undo it once it's done. Be sure you feel confident about the deal before proceeding with it.

For more, please visit our inventory at http://www.prudentvaluecars.com

Child Booster Seats and Safety

There’s a reason that Ontario repeatedly receives awards for having high safety standards. This is one of the safest places to drive a car anywhere in the world and it’s because of the precautions taken in regards to things like child booster seats. They are very important to have in your car if you have a child. Children can slip and fall out of seat belts that are designed for adults, so it’s important to make sure that they are securely strapped in before you drive.

A booster seat can be attached to a car seat and will be your best bet for keeping your little one safe and sound during any car trip you might be going on. Not all booster seats are right for all people, so it’s important for you to choose the one that is right for your child specifically. Most people know that children under the age of 13 should not be in the front seat. In case of an accident they are much safer if they are sitting in the back. Infant seats should always face the back of the car and not the front.

When you strap your infant into the seat, you should make sure the straps are under the shoulders and across the collarbone and that you can fit only one finger under the straps. If you can fit two fingers the straps are too loose and if you can fit no fingers they will be too tight. Avoid aftermarket car seats or ones that are used if they are showing serious signs of wear. It is best to be safe even if means getting a new child booster seat. Your child will outgrow the infant seat and that will eventually need to be replaced with a toddler seat.

Children under the age of 8 who don’t reach a certain height and weight criteria must also be in a booster seat designed especially for older children. Older child booster seats protect children who can slip out from underneath seat belts that are designed for adults. Older child booster seats protect children who can slip out from underneath seat belts that are designed for adults, young adults, teenagers, and pre-teenagers. These guidelines are not negotiable. They are the law. There is no alternate method of driving children that is acceptable in the eyes of the law. It is important that all parents and all people who drive children are aware of their responsibilities to provide legal and safe booster seats for all children in their care.

For more info about Prudent Used Car Dealership visit  www.prudentvaluecars.com