The Difference Between Lease Payments and Finance Payments

Thinking about purchasing a crossover, but not totally sure what the difference is between a crossover and an SUV? Here’s what you need to know about what makes a crossover a crossover.While crossovers can include a relatively wide range of vehicles, there are some characteristics that tend to be common across crossovers, like a unibody construction (vs. the body-on-frame construction typical of SUVs). Read On To Learn Everything You Need To Know About CrossoversIn this article, we’ll cover:The definition of a crossover vehicleExamples of crossover vehiclesCommon characteristics of crossoversFAQs about crossoversWhat Is A Crossover Vehicle?A crossover vehicle is a vehicle that shares characteristics with both passenger cars and SUVs. It is called a crossover because it is a combination, or crossover, of the two usually distinct kinds of vehicles. You might also hear crossovers referred to as “crossover SUVs” or as “CUVs.”Examples of Popular CUVsSome of the most popular crossover SUVs include the Honda CR-V, Mazda CX-5. Toyota RAV4, and various models of Subaru, like the Outback, Forester, and Crosstrek. Generally, people like these vehicles for their practicality, versatility, reliability, safety, and gas mileage.Lower Your Monthly Vehicle Payment with Auto ApproveAlready got a vehicle you love? If you want to lower your monthly auto loan payment, we can help. Refinancing is an easy way to pay less monthly, over the life of your loan, or both.Get a free quote to see how much you could save.What Makes A Crossover A Crossover?Here are some of the most common characteristics you see among crossover SUVs.SUV Styling & High Ground ClearanceCUVs are typically styled to look more like SUVs than standard compact cars. At first glance, they look just like SUVs, and are sometimes even classed as “small” or “compact” SUVs. They’ll typically have higher ground clearance than a car, but not quite as much as a real SUV would have. Higher ground clearance can mean a better vantage point to see other drivers and a more capability on uneven terrain.Car-Like Handling & Unibody ConstructionSUVs are big, heavy cars. They can be difficult to park and don’t handle like a car. They’re also typically built with what’s called body-on-frame construction. Body-on-frame construction means that the vehicle has a separate chassis or frame that the body is mounted on, while with unibody construction the frame and body are a single unit. The reason body-on-frame construction is used for SUVs is because it gives better towing or hauling capacity and handles uneven terrain and off-roading better. Body-on-frame vehicles also tend to be a bit more durable and can take more wear and tear from activities like off-roading and hauling. Crossovers use unibody construction. Unibody construction makes crossovers lighter, meaning they handle more like a car, and this build can be safer for passengers in an accident – though the vehicle itself may require more work to recover. The sacrifice in weight means that crossovers don’t have as much capacity for towing and hauling, and the frame build difference means that, while you could probably take a CUV on a dirt road in a pinch, taking it off-roading would be a bad choice. It looks like an SUV and has room like an SUV, but it’s not built for the same kind of work.Fuel EfficiencySince they’re lighter, crossover SUVs are also usually much more fuel efficient than standard SUVs. Of course, these days you can get hybrid and electric CUVs and SUVs – but even so, the heavier the vehicle, the more energy it’ll take to run smoothly.VersatilityUltimately, the thing that makes crossovers so appealing to so many people is their unique combination of traits. You get more cargo space or trunk room, like an SUV, but the handling and fuel efficiency of a car. You get the safety of a car, with higher clearance, and can opt for a CUV with four-wheel drive or all-wheel drive to better handle rougher road conditions.Overall, for many people, a crossover SUV offers the best of both worlds. But whether it makes sense for your needs? That’s up to you.Crossover FAQStill have some lingering questions? Here are answers to some of the most commonly asked questions about crossover vehicles.What is the difference between a crossover and an SUV?Here’s the short answer. A crossover has some of the features of a car and some of the features of an SUV. Crossovers are sometimes considered a kind of SUV because they have some of the styling, room, and ground clearance found in SUVs, but their unibody construction and resulting lighter weight and easier handling make them unique.Should I get a crossover or an SUV?Deciding whether to get a CUV or an SUV is a personal choice! Those not intending to do a lot of off-roading or hauling tend to prefer crossovers for their balance of space, safety features, easy handling and fuel efficiency. However, if you live somewhere with challenging weather conditions, if you live in the country and regularly navigate rough terrain, or if you want to use the vehicle to carry or tow heavy loads, an SUV may be a better choice.Which is safest: a car, SUV, or crossover?Most popular compact cars, SUVs, and crossover SUVs are essentially safe. Crossovers have a lot to commend them when it comes to safety, because of their specific blend of features. However, the relative safety of different kinds of vehicles really depends on the conditions you’re most likely to face.In an accident, generally speaking, vehicles with unibody construction are considered statistically safer and less likely to roll than body-on-frame vehicles. However, in an accident between a car and a heavier vehicle, those in the lighter vehicle are in more danger.And, depending on where you live, vehicle collisions may be less of a risk than bad weather or terrain. Black ice, heavy storms and heat waves can all be dangerous, and different factors – like the kinds of tires on your vehicle, whether or not you have 4WD or AWD, your emergency preparedness, and the vehicle’s make and model – can all affect your relative safety.All this means that, ultimately, what’s safest will depend on your lifestyle and location. If you’re thinking about buying a new vehicle, the best things you can do are take time to understand the safety features available to you and research safety statistics on the specific make and model.Your Crossover Questions, AnsweredHopefully, this guide has answered all your questions about crossover vehicles and you’re now well-equipped to decide whether a crossover is right for your next vehicle purchase, lease, or road trip rental car.Save Money on Your Monthly Auto Loan Payment With Auto ApproveLooking to lower your monthly vehicle payments? Auto Approve can help you find the best deal available to you in just a few minutes. Refinance your vehicle through Auto Approve and you’ll get a great deal with no markups – and we’ll do the paperwork for you. Auto Approve even handles the DMV!Getting a quote is quick, free, and doesn’t require a commitment or hard credit check.Get your free quote now.

Do you need to rent a car on vacation?It’s a complicated question, and there’s no one size fits all answer. However, there are a few important details you can and should take into account if you’re on the fence about renting a car on your next holiday.In this short guide to car rentals for vacation, we’ll look at:Your destinationYour travel planYour travel companionsYour vacation habitsAnd your budgetWith these things considered, you should have a clearer picture of whether or not renting a car is right for your getaway. And hey, remember – this is a good problem to have, it means you’re going on vacation!5 Things That Determine Whether You Need A Car On VacationWhether or not you want to drive on holiday is a personal decision. Ultimately, this choice can affect the kind of trip you have, so choose based on the vacation you want. 1. Where You’re GoingYour destination is a huge factor in deciding whether or not you need a car at all. For example, consider the following:Is it somewhere you’ll need to drive to get around? Is it somewhere with robust public transpo and limited parking? Do they drive on the same side of the road? What are your plans for meals – will you need to buy groceries?If you’re going to an all-inclusive resort, or a major city where parking will be expensive and difficult and public transportation is the standard way of getting around, a car might only slow you down. If you’re renting a ranch in Montana or roadtripping through mountains, you’re almost certainly going to want not just a vehicle, but one that can handle inclement weather and rough terrain.And if you’re going somewhere like Ireland or England where they drive on the other side of the road (or if you’re coming to the U.S. or Canada from, for example, the U.K., India, or Japan), even if having your own transportation might be convenient, you might want to look at buses and trains to lower stress and keep you safe.2. How You’re Getting ThereThere are different considerations for taking a road trip vs. flying somewhere.If you’re taking a road trip, you might consider taking your own car rather than getting a rental. This is certainly cheaper, and if you’re driving somewhere close to home, taking your own car is a perfectly good option. The biggest reasons to rent a vehicle for a road trip are:If your car is old or has limitations that’ll make it uncomfortable or more likely to break downIf you know you’ll need to handle terrain or weather your vehicle isn’t well-suited forIf you’re going somewhere far enough from service stations that a breakdown could mean a major trip interruptionIf you’re driving from Boston to Southern Maine, renting a car feels a little silly – you’re close to home, you’re not changing terrain, and you’ll be surrounded by auto shops the whole time. But if you’re driving from Boston to the Grand Canyon, the idea of getting a broken down car back home becomes a much bigger deal. A rental might be more expensive, but if you’re renting with a national company, it may be easier to simply replace a vehicle in the case of an emergency than wait for one to be fixed when you’re several days’ drive from your home and your destination. Of course, that’ll depend on your breakdown coverage and your rental agreement, so read the fine print on everything carefully as you weigh your options.On the flip side, if you’re flying to your destinations – say you’re off to see the rainforests of Costa Rica – renting a car will likely be your only choice, if all the other factors align and you decide a car is, in fact, necessary.3. Who You’re Going WithBig family? Solo travel? Your adventuring party makes a big difference in your transportation needs. If you’re backpacking on a budget alone across Europe, you might be willing to put up with a lot of minor inconveniences to save money. A car might be more of a hindrance than a help – or at least eat up your cash.On the other hand, if you’re taking your parents and your young kids to a beach house, you’re definitely going to need a vehicle.And if you’re traveling with a group of several adults, you might be willing to go either way on a vehicle rental vs, taking transportation. In that case, the best thing to do is dive into the details – will several train tickets be as or more expensive than a vehicle rental? Does the train have a scenic view, or would a car be a better way to see and explore the area?Want a little money back in your pocket for your next getaway?Refinancing your vehicle loan is a great way to save. Most people are eligible for a better rate and to pay less monthly. When you refinance with Auto Approve, we’ll help you find the best deal available to you, then do the paperwork for you!Get a free quote to see how much you could save.4. What You Like To Do On VacationAnother thing to think about is the kind of vacationer you are. Some people like to stay close to home, or stick to eating at restaurants and strolling around urban sites. If that’s you, cabs and walking might be more than sufficient for your needs. But for the outdoorsy, those who love beach days, national parks, and driving into the woods, a car can be a must-have. When you picture yourself on vacation, what are you doing? If you prefer to split the difference, you can always rent a car just for a day or two rather than for the whole time, to save money.5. Your BudgetMaybe one of the most important factors in all of this is what works for your wallet. Compare costs for different options and decide what’s worth it to you. If money is tight, choosing what will cost the least is probably going to be the best plan of action – just make sure you don’t choose something that could have the unintended consequence of costing you more because your research failed you. If the bus is cheaper, but it only comes every other day and you’ll need to rent a hotel room for a night while you wait, is it still cheaper? How much does a cab actually cost? How much is parking and gas where you’re going? Be thorough, especially if cost is a concern.And on the other hand, if you have more wiggle room in your budget, the right transportation for the right destination can make a trip more pleasant and less stressful. So, Should You Rent A Car For Your Next Vacation?That’ll depend on all these factors. A car is not always the right choice for every person and destination. Hopefully, with all of the above in consideration, you’ll be able to figure out the right steps for you and your next trip!Another good next step to take?Finding out how much you could save by refinancing your vehicle with Auto Approve! Most people are paying more than they need to be on their monthly car payment, thanks to dealer markups. If you got your loan through dealership financing, if rates have gone down, or if your credit has gone up, refinancing may be able to save you money both monthly and in the long run with a lower interest rate.Getting a quote only takes a few minutes, no commitment and no hard credit check required.Get your free quote now.

When should I refinance my vehicle?It’s a common question, and there’s no definitive, one-size-fits-all answer. Instead, it depends on you.The refinancing process can lower your monthly payments and help you get out of debt faster. But should you refinance your vehicle right now? If you're thinking about it, here are some things to consider:Is your auto loan term nearing its end?Are you struggling with high monthly payments?Have interest rates gone down?Has your credit score gone up?Do you want a lower interest rate?If the answer to any of these questions is yes, now may be the best time to refinance your vehicle. Let’s take a closer look.Here’s How You Know When to Refinance Your VehicleConsider these factors to decide when to refinance your car loan.Your Existing LoanWhere and when you got your existing loan – and the details of that loan – are all among the deciding factors in whether you’ll be able to find a better deal. It’s worth noting that, if you got your loan through dealership financing, the odds are very good you could save money by refinancing, as dealerships often add mark ups to their rates.When thinking about whether or not to refinance your car loan, it is important to know the current interest rate and term of your loan. You should consider the amount of time left on your loan and any prepayment penalties.Prepayment penaltiesPrepayment penalties are fees your lender charges you for paying off the loan before it is due. Watch out! Some lenders will not refinance loans that have prepayment penalties attached. That said, even if your current loan has a penalty attached, it may still be worth it for you to refinance. In some cases, you may be able to save more by refinancing than the cost of the penalty. This is especially true if you got a particularly bad rate on your existing loan (which frequently happens when you buy a new car directly from the dealer). Time remainingIf you have several years left on your current auto loan at an unfavorable rate or your existing loan has high fees, refinancing may be the right decision. After all, refinancing your car loan can be a great way to save money on interest and get lower monthly payments.If you refinance your loan to a longer term, you’ll likely be able to lower your monthly payments – but you could end up paying more in interest. On the flip side, if you can refinance at a lower interest rate and at a similar or even shorter loan term, you’ll be able to save money in the long run. (That’s one of the things that makes refinancing so great!)Your Credit ScoreYour credit history is one of the biggest factors in being able to refinance with most lenders. If you have good enough credit, then refinancing your car could save you money.Refinancing can be a great option if you have improved your credit and want lower monthly payments or to get a longer term on your loan. Better credit can also qualify you for a lower rate than you initially received so that you can pay less overall, regardless of whether or not you want a lower monthly payment.The only thing worth noting when it comes to your credit score is that you’ll want to avoid refinancing multiple times, as doing so could hurt your score, and rates usually go up with each refinance. Your Cash FlowMany people are looking for ways to reel in their budgets. If your income has gone down or you want more money in your pocket for added expenses, refinancing your auto loan could make sense for you. Doing so can lower your monthly payments and help save some cash, without having to change or get rid of your vehicle.Refinancing offers tons of potential savings and can be helpful for people who have limited cash flow. For example, if you’re unemployed and need money in your pocket right away, refinancing can lower your monthly payments and even give you the option to take a few months off from making a payment.Before refinancing your car loan, make sure you refinance for the best possible price. Shop around and compare offers before signing any paperwork to make sure you’re saving as much as possible. Unlike the competition, at Auto Approve, we never mark up the rate the bank offers you, so we pass maximum savings on to you. Eligibility For A New LoanHere’s a good question: What makes you eligible to refinance your car? Well, it varies based on the lender, but eligibility can depend on: how old your car ishow many miles you have on ithow much money is left on your loanand other factors If you’re not sure whether you’re eligible to refinance, don’t worry – we can help! Talk to one of our knowledgeable and friendly Auto Approve agents or use our handy online quote form to find out if your vehicle loan qualifies and how much you might be able to save in a jiffy.Interest RatesWith all that out of the way, one of the most important factors you should consider when deciding when you should refinance your car is the broader picture of interest rates.When it comes to interest rates, things have been all over the place in the past several years, with big fluctuations in vehicle prices and rates. Depending on when exactly you financed your vehicle, average rates may be lower or higher now, and your loan-to-value ratio may have shifted..With that in mind, if you’re eligible, it may be a great time to refinance your automobile right now – the only way to know for sure is to check.So, When Should You Refinance a Vehicle?When everything aligns! Many things go into making the decision to refinance your loan, but this article should help you know better what to look for. For many people refinancing can help you save money monthly and pay less over the life of the loan. The good news is, getting a free quote is easy! There’s no commitment or credit check to find out what rates you might be eligible for, and when you decide to refinance, an AutoApprove agent will help make sure you find the best deal for you and then do the paperwork for you, making refinancing quick and easy. So, whether you’re on the fence or ready to dive into refinancing, get your free quote now.