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Top 5 Cheapest-to-Own Cars | Car Buying Tips

Top 5 Cheapest-to-Own Cars

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When buying a car, remember to look beyond the sticker price. Owning a car is much more than simply purchasing it. Consider maintenance cost, insurance, taxes, registration fees, fuel economy, and standard features. If you are looking for a car that is cheap to own, paying a bit higher initial price may be worth it in the long run.

Kelly Blue Book (KBB) researches and keeps track of all vehicle ownership costs and publishes its 5-Year Cost to Own Awards annually. They calculate how much it costs to own a given car over a period of five years in 22 different categories. Based on this research, we present you the top 5 cheapest-to-own vehicles for 2018.

1. Chevrolet Spark

Top 5 Cheapest-to-Own Cars | Car Buying Tips

Chevrolet Spark was ranked number one by KBB in the category: Subcompact Car with KBB 5-year cost to own: $21,819. Its initial price ranges from $13,050 to $17,475. Some of its main advantages include:

  • A well-equipped information and entertainment system that comes with the basic model
  • Great power and handling for a city car

It has a few drawbacks, such as the small cargo area and the lack of sufficient power on the highway.

2. Toyota Corolla iM

Toyota Corolla iM won in the category: Compact Car with KBB 5-year cost to own: $30,856. It has an initial price that starts at $18,850 up to $19,590. The car is praised for:

Top 5 Cheapest-to-Own Cars | Car Buying Tips

  • The abundance of standard features that come even with the base model, and
  • The excellent cargo capacity.

Some of its disadvantages include a loud engine with not so much power and fewer comfort and entertainment features compared to other vehicles in the same class.

3. Honda HR-V

Honda HR-V takes the first place in the category: Subcompact SUV with KBB 5-year cost to own: $32,874. The price tag on a new car is between 19,670 and $26,540. The vehicle has many advantages that make it a good choice:

Top 5 Cheapest-to-Own Cars | Car Buying Tips

  • Adult-friendly back seat
  • Sufficient cargo area
  • High quality of the build
  • Above-average reliability

There are a few drawbacks though, like the awkward touch screen and the firm front seat cushions, which are minor for an SUV of this class. The biggest disadvantage is perhaps that it takes some time to reach highway speed.

4. Toyota Prius c

Toyota Prius c is at the head in the category: Hybrid/Alternative-Energy Car with KBB 5-year cost to own: $33,454. Its initial price starts at $20,630 and is the least expensive Toyota hybrid. The things that you will like in this car are:

Top 5 Cheapest-to-Own Cars | Car Buying Tips

  • The clean lines
  • The spacious interior
  • The direct steering

Some of its disadvantages are that the engine gets quite noisy when pushed and the budget materials used for the interior. Otherwise, it is a great vehicle compared to its rivals.

5. Honda Civic Si

Honda Civic Si was chosen as the top performer in category: Sporty Compact Car with KBB 5-year cost to own: $33,484. Its price ranges from $18,840 to $34,100 depending on the extras it offers. The car is loved for many reasons that include:

Top 5 Cheapest-to-Own Cars | Car Buying Tips

  • High-grade cabin
  • A lot of cargo room
  • Spacious and comfortable seats
  • Excellent fuel economy
  • Very comfortable ride and great agility

As for the negatives, the available infotainment system is a bit tricky to use.

It is worth noting that according to KBB Hyundai is the Best Brand winner since the cars it offers come at an affordable price and is also cost-efficient in the long run. The Best Luxury Brand winner for 2018 is Acura. They manage to make vehicles that are both luxurious and great value and are worth investing in them.

Getting your car ready for a Pleasant Road Trip

Getting Your Car Ready for a Pleasant Road Trip

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The road trip is usually an anticipated adventure for the entire family. It can be easily ruined, however, if your car misbehaves on the road or if you experience a car accident. This can be avoided if you prepare your car for the road trip. Don’t let your dream holiday turn into a disaster. Here’s how to gear up for the trip.

Getting your car ready for a Pleasant Road Trip

Start with an inspection

The first thing to do prior to setting off on a road trip is to inspect your car. It is advisable to have a mechanic check everything and give you an “a-OK”. If you decide to do it yourself, make sure to have a look at these:

  • Tires – they are a very important part of the trip. So, make sure that you have the appropriate tires for the season, that they are in a good condition, with proper pressure and are not worn out
  • Fluids – check, and refill or replace all the fluids in your car. This includes brake fluid, oil, radiator fluid, transmission fluid, power steering fluid and windshield washer fluid
  • Check the battery and the Make sure that there is no corrosion. Note that batteries are replaced every 3 to 5 years
  • Check and replace, if necessary, shocks, struts, and springs
  • Make sure that all lights work and buy additional bulbs just in case. This includes brakes, turn signals, headlights, and taillights
  • Do an overall maintenance of the car if you haven’t done it recently. Make sure that there are no maintenance lights lit on the dashboard. If there are any, fix the problem before hitting the road

Be prepared while on the road

Even the best car maintenance program cannot guarantee a fault-free road trip. Your car may break while on the road, so you should better be prepared for any accident. You can do this by having a roadside survival kit ready just in case. What you put in your kit is up to you. It can depend on whether you travel with friends or with small kids. In any case, your survival kit should as a minimum contain:

  • a car jack
  • jumper cables
  • a gas can in case you have to walk to get fuel
  • blankets
  • a spare set of clothes
  • rain gear
  • comfortable shoes
  • a flashlight with spare batteries
  • your phone charger
  • first aid kit
  • some packed food
  • water

If you want to be really prepared, take a portable generator to charge your phones and other devices. You can also get a portable battery jumper.

Make sure your spare tire is in good condition and re-inflate/replace it as necessary.

If you have kids, be sure to pack kid-friendly snacks, an activity bag, and small travel pillows.

In addition to that, make sure that you have all the necessary paperwork of your car with you. That includes a copy of the warranty and insurance. If you have roadside assistance as part of your car insurance or you are a member of an auto care club, make sure that you have their contact details as well. Keep all the documents separate in a travel organizer or simply in a plastic pocket to prevent them from occasional spills or other damage.

Last but not the least, take a spare key of your vehicle and keep it in your pocket so that you can avoid locking yourself out of the car in the middle of the road with no assistance nearby.

Follow these simple tips and you will enjoy a safer and more pleasant road trip.

Car Insurance Basics | Auto Insurance Coverages

Car Insurance Basics

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Car insurance is an important asset to protect you financially. All states but New Hampshire require car owners to show that they are financially able to cover liability costs and most states require a car insurance as a proof. In New Hampshire, the driver is required to prove their financial ability after an accident occurs.

The car insurance offers three main areas of coverage:

  • Property coverage that pays for damages to the car or theft;
  • Liability coverage guarantees the legal responsibility of the policy owner to pay for bodily injury or property damage to the other party in the accident;
  • Medical coverage is for costs incurred after treating injuries, rehabilitation or in the case of death – for funeral expenses.

Actually, there are six types of auto insurance coverages, some of which are required, while others are optional. There are some extras as well, that the car owner can select. Below, you can see more details about the different coverages.

Bodily injury liability

The coverage pays for injuries caused to a person by the policyholders or members of their family, who are included in the policy. The policyholders are also covered in case they drive someone else’s car with permission. There is a state required minimum of the bodily injury liability, but the car owner can choose to buy a higher coverage, which will be useful in case they are sued for large amounts after an accident.

Property damage liability

The coverage is used in case the policyholder or someone driving their car with permission causes damage to another person’s property. In most of the cases this is damage to the car of this person, however, the property damage liability also covers damages to buildings, fences, lamp posts, telephone poles or other structures that are caused as a result of driving accident.

Medical payments (MedPay) or Personal Injury Protection (PIP)

This coverage is for treatment of injuries of the driver and the passengers in the car of the policyholder. PIP covers medical costs, lost wages or payment for services that are normally performed by the injured person. It can also cover funeral costs.

Collision

The coverage reimburses for any damage caused to the vehicle of the policyholder as a result of a collision. The collision may be with another car or a different object/construction. The damages sustained after flipping over or as a result of potholes are also covered. Collision coverage usually has a deductible in the range of $250 to $1,000. The premium decreases with the increase of the deductible amount. This coverage is used by the policyholder even if they are at fault for the accident that resulted in a damage. In this case, they got reimbursement for the amount for the repair of the car minus the deductible. If the other driver was at fault for the accident, the insurance company may try to recover the amount paid by the other person’s insurance. In this case, the policyholder will be reimbursed for the amount of the deductible as well.

Comprehensive

This coverage pays for any damage to the vehicle that is caused by a reason different than a collision with another car or object/construction. This includes natural disasters as well such as earthquakes, hail, flood, windstorm, etc. It also covers the car in cases of fire, falling objects, contact with animals, riots or vandalism. The comprehensive coverage reimburses the policyholder in case of theft of the car. The insurance is usually sold with a $100 or $300 deductible, but the car owner may choose a higher amount, which will lower their premium. In case your windshield is cracked or shattered, you will also be reimbursed by this coverage.

Uninsured/Underinsured motorists coverage (UM/UIM)

This coverage pays for the damages in case the policyholder, their family or a driver who is driving their car with permission, are hit by uninsured or a hit-and-run driver. If the driver, who caused the accident, has insufficient insurance to pay for all the losses, the UIM is used. It also protects the policyholder in case they are hit by a car as a pedestrian.

Extras

You can include different extras in your car insurance like roadside assistance, for example. Keep in mind that if you request towing, it will go down as a claim on your record as well.

Another popular extra is the rental reimbursement, which covers the costs in case your rental car gets damaged or stolen.

Knowing the different types of car insurance coverages and what they pay for is essential for making the right decision what to include in your own insurance. It is also important in case you are the person who has suffered the accident and didn’t cause it – thus, you will know what kind of reimbursement you can expect from the other party. Note that states do not require that a car owner has a collision or comprehensive coverage. If you have taken a loan for your car, though, the lender may require them until the loan is paid off.

10 tips to Keep the Resale Value of Your Car High

Top 10 tips to Keep the Resale Value of Your Car High

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If you are thinking about selling your car, you’ll obviously want to get the maximum sale price. The answer is pretty simple – think like a buyer. If you are to purchase a new vehicle what are the things that will attract you to a certain car, and which drawbacks will turn you off?

10 tips to Keep the Resale Value of Your Car High

1. Keep your car well-maintained

One of the most important expectations is to have your car in the best possible condition. Regular maintenance is important since it guarantees your safety on the road and as a bonus boosts the resale value of the car. Follow the manufacturer’s guidelines about checking and replacing fluids and have your car inspected by a mechanic on a regular basis or when you are in doubt.

2. Keep all paperwork

Keeping your car well-maintained is important, however, keeping a record of all the checks and repairs is also very useful. You will be able to show service records to the prospective buyer and increase your chances of getting a good deal.

3. Clean your car regularly

Even if your car is in the best condition, if it looks dirty and sloppy, no buyer will look at it. Clean your car regularly. In warm weather it is advisable to wash your car twice a month – you can do it either by hand with the appropriate car wash detergent or go to a carwash & detailing center. It is also important to wax the car at least twice a year for best results.

4. Take good care of the interior

It is important to keep your interior clean. Use special cleaning solutions depending on the material used in your car – textile or leather. Avoid eating and drinking in the car as some stains are close to impossible to remove. Never smoke in the car – the smell may stay for a long time and it will be unpleasant for potential buyers, whether they are smokers or not.

5. Protect your car from freezing and overheating

Adverse weather takes a toll on your car. Therefore, you need to protect it both from freezing and overheating. The best way is to find a covered parking, preferably a garage, and keep your car there. The overall maintenance and cleaning also help the car cope better with heat or cold.

6. Mind the mileage

If you are planning to sell your car, try to keep your mileage as low as possible. A lower figure will attract much more buyers. And if you are reaching 100,000 miles better stop driving your car before hitting this figure as psychologically it is regarded higher… unlike 98,000 for example.

7. Fix all dents and scratches

Dents, dings, and scratches appear as a result of the everyday use of the car. Fix them immediately after you notice them as it will cost you less and will help get a better resale price.

8. Make minor repairs on time

If there are minor problems that need to be repaired, it is better to fix them before selling the vehicle. Check with your mechanic how much it will cost you and decide if it is worth the investment compared to the resale value you get after the fix. Besides, minor problems are cheaper to fix.

9. Check your tires and buy a second set of wheels

Always check the condition of your tires, keep them clean and maintain the right pressure. The car will behave better on the road. It is also advisable to buy yourself a second pair of wheels to use in the winter. It will be a plus when selling the car as it will be yet another proof that you have taken good care of your vehicle.

10. Drive carefully

Last but not least, drive carefully. Any car that has been in a road accident has a lower resale value compared to the others. Therefore, for your own sake and for the benefit of the future buyer, follow all road signs and pay extra attention while driving.

Maintaining your car well will also help you get a higher title loan, should you ever need to use that option. Fast Money Loan is a title loan company in California with offices across the area, offers quick cash loans on your car title with no credit check. Need cash? Own your car? Find the office nearest to you here: www.ineedafastmoneyloan.com.

Preventing Sun & Heat damage to your car | Car Care

Preventing sun & heat damage to your car

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You may believe that winter is the worst enemy of the vehicle because of its freezing temperatures or the salt and other chemicals used on the roads. And while it is true that the cold takes its toll on the car, the heat is no lesser enemy. The sun and heat can damage the paint on your car, ruin its exterior and interior and cause trouble under the hood. Here are a few tips to help you take proper care of your vehicle during the summer months.

Preventing Sun & Heat damage to your car

Prevent sun and heat damage to the exterior of your car

The exterior of your car is the first thing that will get damaged by the scorching temperatures and the long stay under the sun.

  • Prevent paint damage: The paint is one of the most sensitive elements that you need to take good care of during summer. Wash your car regularly and use auto paint protection kits to make sure that it is well protected. Waxing your car is also a good recommendation. Even though it may require some time and effort, it will protect the exterior from further damage and make its cleaning and maintenance easier.
  • Wash your car properly. It is important to wash your car regularly, especially in the summer heat; however, you need to do it properly. Use appropriate cleaning products to remove road oils, tar, dead bugs and overall pollution. Avoid dish detergent or harsh soaps as they may damage the paint. It is also very important to dry the car afterward using a soft cloth or towel in order to remove any minerals and avoid water spots.
  • Wax your car. We already mentioned that this is an important step in protecting your car exterior from the sun rays. In addition, it will prevent the accumulation of dirt and will make the next washing much easier and quicker. You can purchase a buffer that will make the entire waxing process much more pleasant.
  • Take special care of your convertible top. If you are driving a convertible, make sure to take proper care of the top according to its type. There are special cleaning and protection products for both canvas/cloth and vinyl tops. Always buy the appropriate ones and follow the instructions on how to use them if you want your top to have a longer

How to protect the interior from sun and heat damage

The interior of your vehicle is equally endangered by the heat and sun during the summer months. Do not forget the greenhouse effect, which means that the temperature inside your car is much higher than the temperature outside. Here are a few tricks:

  • Garage your car whenever possible.
  • Park in the shade.
  • Make sure to park with your rear facing the sun so that you can reduce the UV damage to your dashboard.
  • Use reflectorized panels on your windshields.
  • Install tinted windows.
  • Use seat covers—they will both protect the interior and increase your comfort level.
  • Keep your interior clean. Vacuum and wash it regularly, and apply protectant or conditioner in accordance with the type of interior you have: leather, vinyl or cloth.

On the hottest days, given that your car is parked in a safe place: leave your windows slightly open so that the temperature inside doesn’t rise that much. Do not do this if you have parked in an unsafe neighborhood or unfamiliar place.

How to protect engines and tires from sun and heat damage

The sun is equally dangerous for all the parts hidden under the hood of your vehicle and for its tires. The best advice is to have your car checked by a mechanic who can make sure that everything is okay. If you are good at doing this yourself, then do not forget to check the following:

  • Make sure that your cooling system is working properly. All belts and hoses should be in good condition and without cracks. Check that you have sufficient coolant and that it was replaced accordingly.
  • Check all the fluids. Make sure that motor oil, transmission fluid, power steering fluid, and brake fluid are at the recommended level.
  • Make sure your battery and charging system is functioning properly since high temperatures can wear it out quicker and even make the battery fail.
  • Check the air conditioning. It is very important that you stay cool while driving in the heat.
  • Check tire pressure. Under-inflated tires are very dangerous in hot weather. Since there is more friction with the heated pavement, the tires may blowout. Always make sure that you are following the manufacturer’s recommendations in terms of tire pressure.  It is also important to keep your tires and rims clean.

Do not underestimate the damage that sun and heat can cause. If possible, have your car checked by a mechanic at the start of the summer so that you can be calm while driving.