Maintenance Doesn’t Have to Break the Bank

Vehicle maintenance should be a planned expense for any car owner, but many people overspend at the mechanic shop. Being smart and proactive about your car’s maintenance could mean serious savings, both in overall cost and in preventing larger, more expensive, mechanical issues down the road.

The easiest way to save money on repairs is to actually do the preventative maintenance. Many people avoid things like oil changes, replacing filters, and tire rotation, but ignoring these simple and regular tasks could lead to much more costly and dangerous results.

Of course, doing these things yourself is the most cost-effective method, but for the less-handy, these repairs are relatively inexpensive. Further, because they are a planned and necessary task associated with owning a vehicle, setting money aside each month in anticipation of these upcoming costs is a great way to avoid feeling overwhelmed.

When working with a mechanic on other issues, there are three key ways to ensure you get the best deal and only spend on what you need. First, avoid accepting the first repair shop quote; shop around, get a few estimates – it could save you hundreds.

Second, don’t tell the mechanic what parts to replace. Often, parts simply need repair and not replacing, or the customer is incorrect about the cause of the issue. Some mechanics may replace the suggested part because they were asked to, but because it’s necessary – costing you extra cash.

Third, to avoid shady repair practices, ask for parts back when mechanics mention replacing it. Dishonest repair shops may scam drivers by charging for work that was not done or for repairs that were unnecessary.

Saving money in small ways can make a big impact. Being smart and proactive with repairs can potentially save you hundreds!

Recent Grads Credit Misconception

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College graduates face a plethora of obstacles in their post-education transition, and likely aren’t thinking about building credit as a big priority. That is, until good credit becomes a big necessity for grown-up milestones like buying a house, a car, and even getting an apartment.

Aside from a credit card or two, most recent graduates don’t have much of a credit history – a valuable component to building a good credit score.  Many believe that the car their parents co-signed to help them purchase during their college years will help to establish their credit worth; however, it will have minimal impact compared to establishing a payment history on the vehicle as the sole individual listed on the loan.

When faced with this common situation, one remedy for building credit is to refinance. Auto refinancing is a free and easy solution to list the recent graduate as sole borrower and start building that credit history.  A few often unknown or overlooked facts for recent grads interested in refinancing:

  1. Refinancing does not generate any additional fees nor are there any out-of-pocket expenses.
  2. Many lenders look favorably on individuals who have graduated from reputable institutions when determining approval criteria and lending rates.
  3. You can create an acceptable work history in as little as 6 months in post graduate employment.
  4. Refinancing often allows the borrow to skip one, two or even three payments in some cases.

If you or someone you know is a recent college graduate interested in building your credit score, refinancing your vehicle can be a free, easy way to start today.