What to do before Renting a Car


For those who do not have vehicles and waiting for public transport is an issue, car rentals are the other option. Paying for taxi all the time can take a toll on your pocket because distance is everything in the taxi business. With a hired car, none of that matters however there is need to know the hidden charges involved thus the need to know car rental basics to ensure they do not take a toll on you.

1.Your credit card may provide an insurance policy.

When you rent a car, you’ll be offered an expensive option at the counter of purchasing rental car insurance to cover any damages. This rental car insurance is usually rather pricey – from $10 to $25 per day – and you may not need it, even if your auto insurance doesn’t cover rental cars. Many major credit card companies, if used for the car rental, provide coverage to the card holder with no additional cost. But be sure before you bank on it. Some credit cards may limit their coverage, and not all credit card companies offer it. Call and check first, and you may be able to save on the additional cost of rental insurance.

2.Your credit card policy may not cover fees over the cost of damage.

When you do call to check your credit card’s policy on covering rental car costs, ask specifically what they cover. Some credit card companies may cover any damages you incur on the rental car, but will not cover the cost of fees assessed by the rental car company. Fees can add up, too, so you don’t want to be left holding the bill.

Sourced from: http://www.investopedia.com/financial-edge/0411/8-things-you-need-to-know-before-renting-a-car.aspx

Just because a car rental company gives you the keys does not mean that everything is in good shape. Check the car inside out and ensure that there is nothing wrong.

Making too cursory an inspection upon departure.

When you pick up your car, check it inside and out for anything that could potentially be considered damage before you drive away. Look for scratches, scuffs, loose parts, working power windows and mirrors, and more.

Keep an eye out for problems both small and big; the tendency is to take a quick walk around the car looking for scratches and blemishes, thinking that big problems would have already been noticed, but this is not always the case.

I once rented a car that had a loose back bumper that the car rental company had not noticed previously. If I hadn’t caught this before we left the garage and an inspector had seen it later, I would have been held completely responsible — I would simply have thought that someone had banged into the car while it was parked, and that it had happened during my rental.

Your best protection here: take photos or a video of a slow walk around the car, and “kick the tires,” so to speak.

Sourced from: http://www.independenttraveler.com/travel-tips/travelers-ed/10-things-not-to-do-when-renting-a-car

When you make a complaint about a car rental then at times you can be refunded. Always ensure t5hat you complain to the car rental company first. It is only when the company becomes adamant that you can take further action.

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Complain to car hire company

Always complain to your car hire company in the first instance. You can do this verbally or in writing but make sure you keep a clear record of your complaint.

Give the car hire company a reasonable time to address your complaint and to rectify the situation, say 14 days.

If your complaint has not been resolved, you can then turn to one of a handful of organisations who have codes of conduct for members and aim to resolve disputes with customers.

Escalate your complaint

The European Car Rental Conciliation Service (ECRCS) has a free service to help with unresolved complaints concerning cross border vehicle rentals within Europe.

It will only deal with complaints about member companies. In June 2012 these members were Avis, Alamo, Budget, Europcar, Hertz, National and Sixt.

If you’re using the ECRCS to help you get your money back, you must have booked with the car hire company direct – not through a broker or travel agent.

It will investigate to see if a car rental company has breached its code of practice. The code covers advertising, customer information, vehicle condition, pre and post-rental inspections, and billing.

The ECRCS can get refunds for charges it rules were incorrectly made by a rental company.

Sourced from: http://www.which.co.uk/consumer-rights/action/how-to-complain-about-your-car-hire-company

Steps to getting Auto Insurance


When it comes to buying insurance for vehicles it is important to choose wisely or else make a terrible mistake. You need to set your priorities and also check the reputation and financial standing of different insurance institutions.

Know What You Want

Understand what coverage and amenities you’re looking for in a car insurance company. Are you solely looking for cheap auto insurance? How might choosing the cheapest option affect your actual coverage? What about customer service—that’s important, too, right?

Know your priorities before you begin looking to buy car insurance. Ideally, you’ll want a company that offers great coverage at an affordable price from customer service-oriented agents.

Check for Reputation and Financial Standing

Once you’ve found a few seemingly compatible car insurance companies, do some investigative work and check out the companies’ reputation and financial standing.

First, check with your state’s Department of Insurance website and make sure the company is licensed to sell auto insurance in your state.

Also, take a look at complaint ratios, if available.
Then, look at the companies’ financial standing on reputable websites such as J.D. Power and A.M. Best.
Auto insurance is a two-way street: you pay for the coverage and your company provides the coverage. You need to make sure your company can pay your damages when required.

Sourced from: http://www.dmv.org/insurance/how-to-choose-a-car-insurance-company.php

There all sorts of auto insurance policies out there so how do you know what suits you? It all depends on what you want and what the state demands that you should have.

Liability Insurance

Liability insurance covers you in the event you are in a covered car accident and it is determined the accident is a result of your actions. Liability insurance will cover the cost of repairing any property damaged by an accident as well as the medical bills from resulting injuries. Most states have a minimum requirement for the amount of liability insurance coverage that drivers must have. If you can afford it, however, it is usually a good idea to have liability insurance that is above your state’s minimum liability coverage requirement, as it will provide extra protection in the event you are found at fault for an accident, as you are responsible for any claims that exceed your coverage’s upper limit. You wouldn’t want to run the risk of having to pay a large amount of money because your policy limit has been exceeded.

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Collision Coverage

If there is a covered accident, collision coverage will pay for the repairs to your car. If your car is totaled (where the cost to repair it exceeds the value of the vehicle) in an accident, collision coverage will pay the value of your car.

If your car is older, it may not be worth carrying collision coverage on it, depending on the value. On the other hand, if you have a more expensive car or one that is relatively new, collision insurance can help get you back to where you were before any damage to your car. Note: If you have a lienholder, this coverage is required.

Sourced from: http://www.21st.com/insurance-newsletters/2012/01/5-types-of-car-insurance-coverage.htm

The type of driver you are is also a determinant on the kind of insurance coverage you get for your car. How well can you drive, what is the type of vehicle you own and what are your driving habits?

Driving ability

Consider your driving record. If you’re a cautious driver with hardly a blip on your record, you might opt for a higher deductible and a lower rate. On the flip side, if you’re not quite as careful as you could be, you may want to consider higher limits because of the extra protection it provides.

Type of car you drive

Shiny new rides generally benefit from vehicle-protecting coverages like collision (which helps cover damage to your own car) and comprehensive (which protects against theft and a whole lot more). But older cars may benefit less, since post-accident repairs could barely exceed your deductible (meaning you’d be shouldering most of the cost anyway).

Your driving habits

If you work from home and take your car to the grocery store once a week, you might settle for minimum coverage requirements (and look into a low-mileage discount). But if you commute to work through dense, urban traffic, you may want your policy to account for that through added protection and higher coverage limits. Generally, the more time spent in the car, the more hazards you could face.

Sourced from: https://www.esurance.com/info/car/the-right-amount-of-coverage

How to get Auto Finance


Vehicles are no longer a luxury they are a necessity. You need to get to work early, drop the kids at school and even rush to the salon. Vehicles help us to save time and if you have no money but sense the urgency in getting a car for yourself there is the option of getting a car loan.

A car loan is a way for you to purchase a new or used vehicle. You borrow money from a lender and pay them back over time, usually with interest. The amount you borrow is called the loan principal. Car loans almost always include interest, which is how lenders make a profit on the money they lend you. The interest rate is a certain percentage of the loan that you must pay back in addition to the loan principal. So, if you borrow $20,000 for a car at a 5 percent interest rate, you’re going to end up paying the bank $21,000 over the life of the loan — that’s the principal, plus the interest. While you’re paying back the lender, you’re responsible for all taxes, fees and expenses, like gas, insurance and maintenance, associated with owning the car.

Sourced from: http://usnews.rankingsandreviews.com/cars-trucks/How-to-Finance-a-Car/

When it comes to getting a car loan, you do not just walk into a financial institution and walk out with the money. Well you can, if you meet the requirements.

What Are the Requirements?

The advertised interest rates you’ll see on Web sites are usually reserved for those with good credit. If you have poor credit, however, there are still options. Lenders such as Auto Credit Express and Roadloans.com are more willing to take chances on consumers with shaky credit. The rates will be higher, but at least you’ll know what you can afford.

If you haven’t looked at your credit score in a while, it is a good idea to do so. This will let you know what to expect when you’re applying for a loan. All consumers are entitled to one free credit report per year.

Once you’re approved, the lender will give you the total you are allowed to spend and the interest rate for which you were approved. What you do next will depend on whether you are buying a new or used car.

If you know the exact new car you want to buy, you negotiate for the car as you normally would and the dealer will get in touch with your lender to arrange payment. Some lenders have a list of approved car dealers, so make sure you verify that the place you are doing business with is on the list.

Sourced from: http://www.edmunds.com/car-buying/how-to-get-pre-approved-for-a-car-loan.html

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At times the quality of being bad or good is a matter of opinion. This can also be said about credit scores. Lenders are different and where one sees bad, another sees prospect. This means that at times you can get auto financing even with bad credit.

1.Don’t assume the worst

Don’t take someone else’s word that your credit is bad. Check for yourself by grabbing your credit report and credit score. Even two candidates with an identical score might not be the same in the eyes of a lender, says John Van Alst, staff attorney for the National Consumer Law Center. “Even if your score is tarnished, you may have a better chance than someone with the same score and no (credit) history,” he says.

Sourced from: http://www.bankrate.com/finance/auto/9-steps-to-a-car-loan-on-damaged-credit-2.aspx