Happy 4th of July!

Have a safe and Happy 4th of July! From your friends at Team Superstores!

Summer Road Trip Tips

Before you head out on your summer road trip be sure to do the following.

Plan your journey:

Ensure you pack a road map and plan your route before you start driving. Think about where you are traveling and what extra equipment you might need.

Tire pressure:

Ensure your tires are neither over nor under inflated. Adjust the tire pressure if necessary depending on the amount of weight you may be carrying.

Tire tread and condition:

Summer temperatures heat up tires and can aggravate any existing damage to the rubber so check you have the legal tire tread depth and look out for any existing damage that may need attention.

Engine oil and coolant levels:

Ensure these are topped off to maintain the condition of your engine.

Check lights:

It is essential that you check all lights including brake lights to ensure they are working and clear of dirt, which may make them hard to see by other drivers.

Check fluid levels:

Do not fill your fuel tank to the brim as heat expansion during the summer months could cause a fuel leak.

In all seasons, it is important that you carry an emergency kit in your vehicle, including; torch, water, high visibility vest and blankets.

Happy & Safe Summer Road Tripping!

Preventative Maintenance for your Vehicle

Bringing your vehicle in for regular service is the best way for you to save money on automotive costs and save time on easily avoidable mechanical problems. Every car varies, so depending on what your specific vehicle may need, preventative maintenance can include any of the following measures:

• Check and replace the engine oil and/or oil filters
• Check and/or replace fuel filters
• Tire Balancing and Rotation
• Wheel Alignment
• Check all Lights
• Check and/or refill windshield washer fluid
• Inspect tires for wear and air pressure
• Inspect and/or replace air filters
• Check and/or flush brake fluid
• Inspect and/or replace brake pads
• Car Wash
• Tighten nuts and bolts
• Check and/or flush power steering fluid
• Check and/or flush transmission fluid
• And much more!

To keep your car running longer, schedule regular maintenance for tire recommended and manufacturer recommended engine maintenance. It will help you avoid the problems that cost you extra time and money.

Fuel Saving Tips: Save money on gas

Check Your Air Filter

Nearly one in four cars needs an air filter replacement. A clean air filter can improve gas mileage by as much as 10%

Check Your Gas Cap

Believe it or not, its been estimated that nearly 17% of cars on the road have broken or missing gas caps. What's the big deal? Escaping fumes not only hurt fuel economy but release smog-causing compounds into the air. Avoid air pollution and improving fuel mileage is as easy as replacing a bad gas cap.

Slow Down

For every 5 mph you reduce highway speed, you can reduce fuel consumption by 7%

Lay Off the Brakes

Riding with your foot on the brake pedal will not only wear out your brake pads (which will cost you at the maintenance shop) but can also increase gas consumption by as much as 35%

Lighten Up

For every 100 extra pounds carried around, your vehicle loses 1 to 2% in fuel efficiency. Don't drive with too much junk in the trunk.

Building Credit with an Auto Loan

Whether you’re working on improving your credit health after a bankruptcy or just getting started as a borrower, making car payments on an auto loan is an excellent way to establish or build your credit score.

Before you take out that big home mortgage loan, business loan or finance that designer furniture set, you need to prove to lenders that you’re creditworthy.

Car loans help you do just that for the following reasons.

Auto Loans are Installment Loans

When lenders and credit reporting bureaus look at your credit history, they want to see a good mix of installment loans and revolving credit. Revolving loans include credit cards and home equity loans. Installment loans include student loans, mortgages and auto loans. In most cases, it’s not feasible (or wise) to take out a student loan, home mortgage or home equity loan simply to build your credit. It’s much easier to qualify for and pay off an auto loan, which makes it the best option for improving your credit health.

Auto Loan Refinances are Easy

As a borrower with no credit history or bad credit, you’ll pay a premium for your first car loan. Don’t be surprised if you’re hit with a double digit car loan interest rate, especially if you’re emerging from bankruptcy. But the good news is that after one or two years of making your payments on time, you can refinance for a lower interest rate if your credit score has improved (which it will have, if you haven’t done anything else to negatively impact it).

You can refinance every few years and continue to get lower interest rates until you’re no longer paying the subprime rate. This is all made possible because, unlike home mortgage loans, the origination fees and other closing costs of a car loan are typically very low and the payback period is relatively short.

Car Payments are Somewhat Flexible

As long as you avoid loans with early payment penalties, car payments are very flexible. If you get a low monthly car payment, you can elect to make extra payments or double payments whenever you have extra cash. Paying off your loan early not only saves you money on interest, it reportedly boots your credit score faster as well.

You can also put down a larger down payment from the beginning or when you refinance to get a lower interest rate.

Overall, having an installment loan in good standing on your credit history is important to establishing or improving your credit health. A car loan is one of the easiest, most affordable and most flexible installment loans you can get. Keep this in mind as you embark on the road back to good credit.

Benefits of Buying a New Car

Popularity and Strong Resale Values

Depreciation is usually a reason to buy used instead of new, but vehicles in high demand will have a higher value. For instance, new vehicles that sell for more than the dealer's list price suggest stronger resale values and less depreciation. Certain brands have lower depreciation and stronger resale values because of their quality and reliability records.

While depreciation may not matter initially to you, it will have an impact when it comes time to trade in your vehicle, so it's worth considering when you buy a new car.

Better Finance Rates

While a used car may initially cost less than a new one, the interest rate you pay likely will be higher. To begin with, you wouldn't get the low-interest financing or cash rebate that usually is offered as an incentive to new-car buyers. Furthermore, financial institutions generally charge a higher rate of interest on loans for used cars — usually a full percentage point or two. However, some of the automakers' certified pre-owned programs offer discount financing.

Available Features

When you buy a used car, you get the state of the art — of the year of the used car. Every model year, manufacturers add and adopt technologies and features to vehicles either as standard or optional equipment as a way to lure buyers to new cars. Those technologies may be safety breakthroughs or they may just be convenience gadgets. The only way to get the most advanced technology and the latest convenience features is with a new vehicle. Automotive electronics are evolving so rapidly that unless you buy a new car, your vehicle's technology is already outdated.

Used-Up

Finally, some 1- and 2-year-old used cars on dealers' lots are former rental cars. Rental cars generally get considerable use and abuse in a short time, so they may not be good choices. Some leased vehicles may offer a better alternative. Leasing companies carefully inspect the vehicles before they put them up for sale. People who lease are charged for all necessary repairs. This policy encourages people who lease vehicles to take care of them.