The In’s and Out’s of Financing Your Car

Finance your car, apply for a loan and get NBA jerseys  at Fanatics.

So you’ve finally decided on the car you want and are thinking how you’ll pay for it. Make sure you are up to date on your finances. Know  what you have available to use to put towards your car.

Look for a special financing option to save money. Search for places offering the lowest prices.

Before you apply or even consider a car loan know the fundamentals. Be sure to know you’ll be paying back the loan principal with an interest fee.

Do the math correctly and see if your  monthly loan  rate is within reach.

Be aware  the car is not yours it is lended to you and you still have to pay for it. You don’t get the car title until you make your last car loan payment. If you miss a payment the car can be taken away from you.

Read the length of time you have to pay back the loan. You’ll be sending the lender monthly installment payments.

Keep a record of your credit score to have a good idea of the interest you’ll get charged. The better your credit score is the less you’ll get charged. Whereas the worst your credit score is you’ll get charged more.

Apply to more than one car loan and go for the one  that offers a lower price. When you apply you’ll be asked about current monthly expenses, income and job, and debt you currently owe. Be honest on amount and don’t make up amounts.

Read the smaller print on every application so you don’t miss important information on penalty fees.

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Finally get the loan you need to finance your car and find great NBA merchandise at Fanatics.

What is the Maximum Auto Loan Interest Rate in Georgia?

According to the Georgia Department of Banking and Finance, the maximum interest rate on loans that have a principal between $3,000 and $250,000 is 16 percent. Additionally, the state requires that the exact interest charged be clearly spelled out in writing in order to be enforced. State maximum interest rates are usually placed on loans being made to consumers with bad credit. Let’s look at how a 16 percent interest rate can affect a loan, what options you may have, and how to avoid such a high rate in the future.

Who Faces the Highest Rate in Georgia?

There are two types of buyer who may face the highest interest rate in Georgia: those with bad credit and those with an unusually high debt-to-income ratio. The major credit reporting agencies have targeted scores. For example, every consumer in the United States has a score for a mortgage, car loans, credit cards, insurance, etc. Everyone has up to 52 different credit scores that are based on the lending situation. With that in mind…the highest auto loan interest rate does not apply to every buyer with bad credit, mainly to those who have struggled with car loans in the past. If you have bad credit in every aspect of your life, but have paid previous car loans on time, your score may be high enough for you to avoid the 16 percent rate. The reverse is true as well. Great credit everywhere, but have a repossession; look out!

Total Interest Paid

Total interest paid over the life of a car loan is where the interest rate is going to impact individual buyers the most. According to various sources, the average cost of a used car in the United States hit $18,800 in August of 2015. New car prices top $30,000. Let’s model both loans so you can see how hard bad credit can hit your wallet.

Most new cars qualify for a loan term of 72 months. So, a loan of $30,000 at 16 percent will cost you $16,854.38 in total interest over the life of the loan. A loan for a used car is normally limited to 60 months maximum, so $18,800 at 16 percent will cost you $8,630.77 over the life of a 60 month loan.

What Can Be Done

You have two options when facing the maximum interest rate for an auto loan in Georgia. The first is to wait to buy, the second is to shop your loan online.

The impact of negative marks on your credit report fades over time. Late payments and repossessions will stay on your credit report for seven years, but begin to fade. The effects of a late payment will begin to fade after six months as long as you do not have another late payment. A repossession can begin to fade after two years. While you wait for the effects of these items to fade, try getting a credit card. Even if it is a secured card, new credit used responsibly will help past indiscretions fade more quickly.

Shopping your loan around when you have bad credit may sound counter-intuitive, but it can be the best way to get the loan you need. Your best option may be to look online for specialty lenders who concentrate on offering loans to buyers will less than stellar credit histories. There are even broker sites that allow you to apply to several specialty lenders at once, making your search faster and easier.

Tesla Is Pushing For Change in Georgia

Tesla Direct Sales in GeorgiaSome people now believe there has been a campaign to brainwash consumers into thinking that petroleum-fueled transportation is our only option for centuries. While this is a little outlandish, Tesla is a company that is breaking out of these bounds by bringing to life its line of clean electric cars and a new business model. It’s the only such model that has made sense so far, and especially in light of the ever-changing awareness through the internet that is shaping the way consumers buy things, it may just be the way of the future.

Instead of following the laws that say a car manufacturer is not allowed to sell more than 150 cars directly to consumers a year, Tesla has pushed the legal limits to be able to see its product directly to buyers instead of the seemingly absurd rule of a “dealer” being the only legal way for a car company to sell its cars. Dealer associations across the US have been fighting the company’s direct sales model, and Georgia is just the latest locale where dealer ire has been raised. The Georgia Dealers Association has filed a complaint with the state’s Department of Revenue claiming that the company sold 173 cars–23 more than the cap. The laws supporting this old and archaic format are only in place because of the large financial interests behind them campaigning and lobbying politicians to make them pass. Tesla has shown, in a statement to the public, and through their actions, that they are here to stay and the dealers aren’t happy about it one bit.

Read the full article here:

Concept Car Exhibition at High Museum of Art!

If you live in the Atlanta area, you’re in for a treat.  The High Museum of Art is featuring a new exhibit entitled “Dream Cars:  Innovate Design, Visionary Ideas.”  The concept is to display the wildest, rarest, most forward-thinking concept cars from the last eight decades. There are seventeen cars in all, with concepts from the likes of Ferrari, Bugatti, Porsche, GM, and more. You can preview the cars here at the museum’s official website.

The jet fighter-inspired vehicle featured at the top of this post is the GM Firebird XP-21, a turbine-powered concept that debuted in 1954 as a study into the practicality of jet engines in passenger vehicles. As you might imagine, a jet fighter on four wheels failed miserably (if beautifully) in the practicality department. Not only did the XP-21 have only one seat and TERRIBLE gas mileage, the tailpipe burned at about 1000 degrees–not something you would want to find yourself stuck behind in rush-hour traffic.

Thanks to Petrolicious for letting us know about this new exhibit!

What Are The Best Used Car Dealers in Atlanta?

Buying a used car can make anyone nervous. A thousand questions and doubts go through your mind while you are shopping: Is the dealership trying to pull a fast one? What if there is something major wrong with this car and no one knows it yet? That makes the dealership’s reputation pivotal. Here are the top used car dealerships in the Atlanta area based on customer feedback.

World Premiere Auto Deals
658 Northside Dr NW
Atlanta, GA 30318

Hennessy Lexus of Atlanta
5955 Peachtree Industrial Blvd
Atlanta, GA 30341

Marietta Auto Mall Center
875 S Cobb Dr SE
Marietta, GA 30060

Independent Used Car Inspections

These dealerships have received kudos for the sales process and service after the purchase. While these dealerships have received positive reviews during 2013, your experience may be different. It is in your best interest to have any used car inspected by an independent mechanic that you trust before you buy. Typically, this shouldn’t cost more than $100–if not even cheaper–and it could save you hundreds and hundreds in future headaches. What if the vehicle you’re inspecting is going to need ball-joints or shocks? What if the power-steering box is leaking, or the tires show signs of irregular wear? Seemingly minor issues like these can cost you several hundred dollars in parts and labor.

Making Sure the Price is Right

Again, these dealerships have great records of service from past customers. However, it is still in your best interest to visit and check the retail value of any car you’re considering. You could check these values easily from your smartphone, and this should give you the ability to negotiate from a strengthened position. You certainly don’t want to pay more than the book value for a used car. Go here for used cars available from dealers in the Atlanta area.

Georgia the Most Expensive State To Own a Car?

Which is the state that you do not want to be living and owning a car? 
That would be the state of Georgia. Not only is this state in the the top five most expensive places to own a car, but if you don’t own one your only making it harder on yourself because this state also lacks public transportation, which would help people get around to where they need to go without using there cars. 

Even if your just driving by Georgia, you will find that gas to fuel your car in Georgia will be above well average prices, which is one on the reasons why it’s so expensive to own a car in addition to the taxes, fees and insurance. 
To own a car in Georgia it will coast you about $4,233 annually, which is about $1,000 more than the national average, according to Bankrate.

The other four states on the top five for auto expenses are:

  • California—$3,966 
  • Wyoming—$3,938 
  • Rhode Island—$3,913 
  • Nevada—$3,886

Read the full article here:

How Long Should Your Auto Loan Be?

When financing a car today you have many options on the type of auto loan you can choose, there are 24, 36, 48 and even 60 month loans available. More buyers today are financing their car for 60 months or more. Such a loan will give you a lower monthly payment but you will pay more interest over the life of the loan. You may also find it harder to qualify for a longer loan, as lenders require top notch credit for extended repayment terms. 

Are Lower Payments Worth the Extra Interest?

The question you will need to answer is if an auto loan with lower monthly payments will be worth the costly extra interest you will pay over 60 months. With qualifying for a longer auto loan being harder, shopping online will be one way to find and obtain a 60 month auto loan. Shopping around to find the best auto loan no matter how many months you plan to finance it for is the best way to get the most for your money.

Read the full article here:

Tank Town USA Doing a Crushing Business

Ready for a good time, a real good time? Then head on down south to Morganton, Georgia for a raucous day of driving tanks. Morganton, a hamlet in the northern reaches of the Peach State, is home to Tank Town USA, an amusement park of sorts where everyday folks can drive British FV-432 Armored Personnel Carriers around five acres of fine Georgian soil.

Opened in April of this year, Tank Town USA is the culmination of the long-held dream of Todd Liebross who has been collecting old military vehicles for decades.

So far, reviews for Tank Town USA are thumbs up. “I have to say it was an absolute hoot,” said Lori Lockman who had been given a day at Tank Town USA by her husband for her 50th birthday. “Car crushing was the best part. It was bit scary at first to roll over it. But the crunchy sound it makes—and that back windshield blowing out-were incredible. I also loved the fact that I was able to keep my hat on the whole time—just like the Queen would have done.”

Nissan Promises Self-Driving Car By 2020

With over 40,000 deaths and $160 billion in damages happening in traffic accidents in the United States every year, the promise of a self-driven car which can prevent most of these accidents seems to be too good to be true. However, Nissan CEO Carlos Ghosn has pledged that the automaker will have fully autonomous cars on the market by the year 2020. Google has been a pioneer in this field, and a few luxury auto companies including Mercedes, Lincoln and Infinity now offer cars with some self-driving features. These capabilities use radar, GPS and software systems, yet all previous work in this field has relied on some external links. To date none of the cars on the market offer a completely autonomous driving experience. In order to investigate how the software, laser scanners, radar scanners, cameras and other technology needed will function in real-life situations Nissan will open a special test track for fully self-driving cars located in Japan in 2014. Ghosn promises Nissan will offer the fully autonomous driving capability on all of its models by 2020.

Read the full article here:

Ultimate Car Show in Newnan This Weekend (June 29)

This weekend, Southtowne Chevy in Newnan, GA, is presenting the 5th annual Ultimate Car Show in association with the Peach State Corvette Association. The show will run from 9:00 am to noon, with awards being handed out at 3:00 pm.  There will be awards for the following categories:

  • Best Chevy
  • Best Ford
  • Best Mopar
  • Best Corvette
  • Best Custom Rod
  • Best BOP
  • Best Truck
  • Best Motorcycle

Proceeds go to benefit Southwest Christian Hospice and Hope House.


Southtowne Chevrolet
695 Bullsboro Drive
Newnan, Georgia 30265


I-85 South to Exit 47, Newnan, turn right, 1 mile on left.

Entry Fees:

$25 to show, $10 to display.

The first 100 cars registered get dash plagues!

For more information, check out the Peach State Corvette Association.