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Are you considering auto refinancing? It's a wise move that can potentially save you money on your car loan. However, before you proceed, it's important to understand how auto refinancing works and how it can impact your taxes. In this article, we'll break down the basics of auto refinancing, discuss the tax implications, and provide tips for navigating tax season after refinancing. We'll also address common questions about deducting auto loan interest and the effects of refinancing on your credit score. So let's dive in and explore the world of auto refinancing and taxes.Understanding Auto RefinancingThe Basics of Auto RefinancingAuto refinancing can be a beneficial financial move for many car owners. By refinancing your auto loan, you have the opportunity to secure better terms, such as a lower interest rate, extended loan term, or reduced monthly payments. This can result in significant savings over the life of the loan and provide you with more financial flexibility.One key advantage of auto refinancing is the potential to lower your monthly payments. If your credit score has improved since you initially took out your car loan, you may now qualify for a lower interest rate, which could lead to substantial savings each month. Additionally, if you're facing financial difficulties and need to reduce your monthly expenses, refinancing to extend the loan term can help lower your payments, albeit potentially costing you more in interest over time.How Auto Refinancing WorksWhen you decide to refinance your car loan, the new lender will pay off your existing loan in full and create a new loan agreement with revised terms. This process is akin to applying for a new car loan, as you will need to submit documentation such as proof of income, insurance, and vehicle details. The new lender will evaluate your application, and if approved, they will issue a payoff check to your previous lender to close out the old loan.It's important to note that auto refinancing typically incurs fees, such as loan origination fees, title transfer fees, and state re-registration fees. Before proceeding with refinancing, it's crucial to calculate whether the potential savings from the new loan terms outweigh these fees and any additional interest costs. Additionally, consider the impact of extending your loan term on the total interest paid over the life of the loan, as stretching out the repayment period can result in paying more in interest, even with a lower monthly payment.The Impact of Auto Refinancing on Your TaxesAuto Refinancing and DeductionsWhile auto loan interest can be tax-deductible in certain cases, it's important to note that refinancing doesn't automatically change the deductibility of your interest. The IRS considers auto loan interest as personal interest rather than mortgage interest, which means it's generally not deductible. However, if you use your refinanced loan proceeds to improve your vehicle, such as adding safety features, you may be eligible for a deduction under the medical expense or casualty loss categories. Remember to consult a tax professional for advice specific to your situation.Tax Implications of Interest RatesWhen refinancing, it's common to aim for a lower interest rate. While this can reduce your monthly payments and save you money over time, it can also impact your taxes. A lower interest rate means less interest paid, which in turn reduces the potential tax deduction you can claim. On the other hand, a higher interest rate may result in more deductible interest. Keep these factors in mind and consider consulting a tax advisor to understand the impact of interest rates on your tax situation.Consideration of Loan Term ExtensionAnother factor to take into account when refinancing your auto loan is the potential extension of the loan term. While extending the term can lower your monthly payments, it can also affect your tax situation. A longer loan term means more interest paid over the life of the loan, which could potentially increase your tax-deductible amount. However, it's essential to weigh this against the overall cost of the loan and the impact on your financial goals.Additionally, a longer loan term may impact your vehicle's depreciation value, which can have implications for your taxes if you use your vehicle for business purposes. Be sure to keep detailed records of your vehicle's usage to accurately determine any tax deductions you may be eligible for based on the depreciation of your vehicle.Preparing for Tax Season After Auto RefinancingNecessary Documentation for Tax FilingAfter refinancing, you'll need to gather the necessary documents for filing your taxes accurately. Some important documents to keep on hand include your refinanced loan agreement, Form 1098 (if you receive one from your lender), and any documentation related to deductible expenses or improvements made to your vehicle. Keeping your paperwork organized will make the tax filing process smoother and help you avoid potential mistakes or omissions.It's also advisable to retain records of any correspondence with your lender regarding the refinancing process. This can include emails, letters, or notes from phone calls, as they may contain important details that could be relevant for your tax filing. Additionally, if you made any payments related to the refinancing, such as appraisal fees or credit report charges, keep those receipts handy as they may be tax-deductible.Common Tax Mistakes to Avoid After RefinancingWhen it comes to tax season, it's crucial to avoid common mistakes that could result in penalties or delays. One common error is failing to report changes in interest paid due to refinancing. Make sure to update the relevant tax forms with the accurate interest amounts. Additionally, if you claimed a deduction for an improvement made with loan proceeds, be prepared to provide supporting documentation in case of an audit. Double-check your tax return before submitting it or seek professional help to ensure accuracy and compliance.Another mistake to steer clear of is forgetting to account for any potential tax implications of cash-out refinancing. If you received cash back as part of the refinancing deal, this amount may be subject to taxation depending on how it was used. Consult with a tax professional to understand the tax consequences of cash-out refinancing and ensure proper reporting on your tax return.Seeking Professional HelpWhen to Consult a Tax ProfessionalManaging taxes can be complex, especially when you have a refinanced car loan in the mix. If you're unsure about how to handle your tax situation after refinancing, it's wise to consult a tax professional. They can provide guidance based on your specific circumstances and help you navigate potential pitfalls or maximize tax savings.Refinancing a car loan can have various implications on your tax situation, such as changes in deductible expenses or potential tax credits related to the interest paid on the loan. A tax professional can analyze these factors and ensure that you are taking full advantage of any available benefits while remaining compliant with tax laws and regulations.Choosing the Right Tax Advisor for Auto RefinancingWhen seeking professional help, it's important to choose a tax advisor with expertise in auto refinancing and taxes. Look for advisors who have experience with similar cases and can explain the implications of refinancing in clear terms. Consider asking for referrals from friends or family who have gone through the refinancing process. Take your time to find the right advisor who can assist you effectively and provide the necessary insights to make informed tax decisions.Furthermore, a knowledgeable tax advisor can also help you plan for future tax implications of auto refinancing. They can assist in creating a tax-efficient strategy that aligns with your financial goals and ensures that you are prepared for any potential tax changes in the future. By working with a specialized advisor, you can have peace of mind knowing that your tax situation is being managed effectively and in a way that benefits your overall financial well-being.Frequently Asked Questions About Auto Refinancing and TaxesCan I Deduct Auto Loan Interest?As mentioned earlier, auto loan interest is generally not tax-deductible. However, if you can demonstrate that the loan proceeds were used for deductible purposes, such as vehicle improvements that meet specific criteria, you may qualify for a deduction. Consult a tax professional to understand the rules and requirements pertaining to your situation.How Does Refinancing Affect My Credit Score?Refinancing your auto loan can have both positive and negative effects on your credit score. Initially, the credit inquiry from the refinancing process may cause a small decrease in your score. However, if you make timely payments on your new loan, it can help improve your credit over time. Additionally, lowering your monthly payment through refinancing can make it easier to meet other financial obligations, reducing the chances of missed payments and further benefiting your credit standing. Overall, the impact on your credit score will depend on how responsibly you manage your refinanced loan.Now that you have a better understanding of auto refinancing and its implications on your taxes, you can make informed decisions to optimize your financial situation. Remember to consult a tax professional for personalized advice, as everyone's tax situation is unique. By staying informed and proactive, you can navigate the world of auto refinancing and taxes with confidence.

In today's financial world, credit scores are crucial in determining eligibility for various loans, including car loans. Understanding how credit scores impact car loans can help potential buyers make informed decisions. This article aims to shed light on the intricacies of credit scores and their influence on car loans, as well as provide tips on improving credit scores and navigating car loans with low credit scores. Additionally, we will explore the concept of refinancing car loans and its relationship with credit scores.Understanding Credit ScoresWhat is a Credit Score?A credit score is a numerical representation of an individual's creditworthiness. It is derived from a person's credit history and serves as a tool for lenders to assess the likelihood of repayment. A higher credit score typically indicates a lower credit risk, making it easier to secure favorable loan terms.A good credit score is crucial for various financial transactions, such as applying for a mortgage, car loan, or credit card. Lenders use this score to determine the interest rate you will be charged and the credit limit you will receive. Therefore, maintaining a healthy credit score is essential for accessing affordable credit and favorable terms.How is a Credit Score Calculated?Credit scores are calculated using various factors, including payment history, credit utilization, length of credit history, types of credit, and new credit inquiries. These factors are analyzed using sophisticated algorithms to generate a three-digit number, typically ranging from 300 to 850.Payment history plays a significant role in determining your credit score. It reflects whether you have paid your bills on time, missed any payments, or defaulted on loans. Consistently making on-time payments can positively impact your credit score and demonstrate your creditworthiness to potential lenders. Credit utilization, which is the amount of credit you use compared to your total available credit, also influences your score. Keeping your credit utilization low can help boost your credit score and show responsible financial behavior.Why Credit Scores Matter for Car LoansRegarding car loans, credit scores play a significant role in determining eligibility and interest rates. Lenders consider credit scores to measure a borrower's ability to repay the loan on time. Higher credit scores often result in lower interest rates, potentially saving borrowers thousands of dollars throughout the loan.Moreover, a good credit score not only affects the interest rate but also the loan terms. Borrowers with high credit scores may have access to better loan terms, such as longer repayment periods or lower down payment requirements. This can make a significant difference in the loan's overall affordability and the borrower's monthly payments.How Credit Scores Affect Interest RatesCredit scores directly influence interest rates for car loans. Borrowers with excellent credit scores can typically secure the most favorable interest rates, while those with lower scores may face higher rates or be deemed higher risk. This is because lenders factor in the potential risk of default when determining interest rates.Furthermore, credit scores impact not only the interest rates but also the approval process itself. Lenders may be more willing to approve loans for borrowers with high credit scores due to their demonstrated history of responsible financial behavior. On the other hand, borrowers with lower credit scores may face more stringent approval requirements or may need to provide additional documentation to support their loan application.Improving Your Credit Score for Better Car LoansWhen it comes to securing better car loan terms, one of the most important factors to consider is your credit score. Lenders use this score to assess your creditworthiness and determine the interest rates and loan terms you qualify for. Taking proactive steps to boost your credit score can increase your chances of getting more favorable loan offers.One effective strategy to improve your credit score is to focus on making timely payments. Payment history is a significant factor in calculating your credit score, so ensuring you pay your bills on time can positively impact you. Keeping your credit utilization low by not maxing out your credit cards can also help improve your score.Strategies to Boost Your Credit ScoreImproving your credit score is crucial if you're aiming for better car loan terms. This includes making timely payments, keeping credit utilization low, avoiding unnecessary credit inquiries, and maintaining a healthy mix of credit types. Gradually implementing these strategies can help elevate your credit score, potentially opening up more favorable loan options.Time Frame for Credit Score ImprovementImproving your credit score takes time and patience. Positive changes to your credit habits can be reflected in your score over a few months or longer, depending on your individual circumstances. Consistency and responsible financial behavior are key to significantly improving your credit score.Navigating Car Loans with Low Credit ScoresOptions for Car Buyers with Low Credit ScoresA low credit score does not mean obtaining a car loan is impossible. There are options available for car buyers with less-than-perfect credit. Some lenders specialize in providing loans to individuals with lower credit scores, although these loans may come with higher interest rates and stricter terms. Additionally, exploring alternatives such as secured car loans or co-signing may help secure a car loan despite a low credit score.Secured car loans are a viable option for individuals with low credit scores. These loans require collateral, such as the vehicle itself, which reduces the lender's risk. By offering collateral, borrowers may have a better chance of being approved for a car loan, even with a low credit score. However, borrowers must understand that defaulting on a secured car loan can result in collateral loss, typically the vehicle.Risks and Considerations for High-Interest Car LoansConsidering the risks associated with high-interest car loans, especially when dealing with low credit scores, is important. Higher interest rates can result in higher monthly payments and increased overall loan costs. Before committing to such loans, borrowers should carefully evaluate their financial situations and consider the long-term implications of the loan terms.Furthermore, high-interest car loans can lead to financial strain for borrowers, potentially impacting their ability to meet other financial obligations. It's essential for individuals with low credit scores to assess whether the higher interest rates are manageable within their budget and to explore other options, such as improving their credit score before applying for a car loan. By taking proactive steps to enhance their creditworthiness, borrowers may qualify for more favorable loan terms in the future.Credit Scores and Car Loan RefinancingWhen to Consider Refinancing Your Car LoanRefinancing a car loan involves obtaining a new loan with better terms to replace an existing one. It can be a valuable option for borrowers looking to lower their monthly payments or secure a lower interest rate. Having an improved credit score often opens the door to refinancing opportunities, potentially resulting in substantial savings over the life of the loan.One crucial factor to consider when contemplating car loan refinancing is the current market interest rates. If interest rates have dropped significantly since you initially took out your car loan, refinancing could be a strategic move to capitalize on the lower rates and reduce your overall interest expenses. Refinancing can also provide an opportunity to adjust the loan term, potentially extending it to lower your monthly payments or shortening it to pay off the loan sooner.How Refinancing Can Affect Your Credit ScoreRefinancing a car loan may temporarily impact your credit score. When you apply for refinancing, it typically results in a hard inquiry on your credit report. However, if you make your payments consistently and responsibly, refinancing can ultimately positively change your credit score.It's essential to note that while a hard inquiry may initially cause a slight dip in your credit score, the long-term benefits of refinancing, such as lower interest rates and improved payment terms, can outweigh this temporary effect. By staying vigilant about your credit utilization and payment history, you can mitigate any potential negative impacts on your credit score and position yourself for financial success.By understanding how credit scores and car loans intersect, potential car buyers can make informed decisions about their financing options. Improving credit scores, exploring alternative loan options, and considering refinancing can all contribute to securing a car loan that aligns with your financial goals. Remember, being proactive and responsible with your finances can lead to better credit scores and greater financial freedom in the future..GET A QUOTE IN 60 SECONDS

Fuel efficiency is a topic of great importance in today's world. As gas prices rise and concerns about the environment intensify, finding ways to save money at the pump has become a priority for many people. Understanding fuel efficiency and implementing practical hacks can help you save money and reduce your carbon footprint.Understanding Fuel EfficiencyIt's essential to grasp the science behind fuel efficiency and how your vehicle consumes fuel. Understanding these factors allows you to make informed decisions to improve your fuel economy.Efficient fuel consumption is not only beneficial for your wallet but also for the environment. Maximizing your vehicle's fuel efficiency can reduce carbon emissions and minimize your carbon footprint. This is particularly important today, where sustainability and eco-conscious choices are becoming increasingly significant.The Science Behind Fuel EfficiencyFuel efficiency measures how effectively your vehicle uses fuel to power its engine. It is usually expressed as the number of miles your vehicle can travel per gallon of fuel (MPG). Engine design, weight, aerodynamics, and other factors all play a role in determining fuel efficiency.Engine design is a crucial factor in fuel efficiency. Modern engines are designed to be more efficient, utilizing technologies such as direct fuel injection and turbocharging to maximize power output while minimizing fuel consumption. Additionally, advancements in materials and manufacturing processes have led to lighter engine components, reducing overall vehicle weight and improving fuel efficiency.How Your Vehicle Consumes FuelYour vehicle's fuel consumption depends on various factors, including engine size, driving conditions, and driving habits. With frequent stops and starts, city driving tends to use more fuel than highway driving at a consistent speed. Understanding these factors can help you optimize your fuel efficiency.In addition to driving conditions, your vehicle's maintenance also plays a significant role in fuel efficiency. Regular tune-ups, proper tire inflation, and clean air filters can all contribute to better fuel economy. By keeping your vehicle in top condition, you can ensure that it operates at peak efficiency, ultimately saving you money on fuel costs in the long run.Importance of Fuel EfficiencyFuel efficiency is crucial for two main reasons: environmental impact and economic benefits.When it comes to the environmental impact of fuel consumption, the consequences of burning fossil fuels extend far beyond just the emission of carbon dioxide (CO2). In addition to CO2, the combustion of fossil fuels releases other harmful pollutants such as nitrogen oxides, sulfur dioxide, and particulate matter. These pollutants contribute to climate change and have detrimental effects on air quality, leading to respiratory issues and other health problems in humans and wildlife alike.Furthermore, fossil fuel extraction, transportation, and refining can have devastating environmental consequences, including habitat destruction, water pollution, and oil spills. By prioritizing fuel efficiency and reducing our overall fuel consumption, we can help minimize the demand for fossil fuels and lessen the environmental impact associated with their extraction and use.Environmental Impact of Fuel ConsumptionReducing fuel consumption is essential for protecting the environment. Burning fossil fuels releases carbon dioxide (CO2) and other greenhouse gases, contributing to climate change. By improving fuel efficiency, you can reduce your carbon footprint and help mitigate the effects of global warming.On the economic front, fuel efficiency benefits extend beyond just saving money at the pump. In addition to direct cost savings on fuel, a more fuel-efficient vehicle can also result in reduced maintenance expenses over time. The wear and tear on a vehicle's engine and components are often lessened when the vehicle operates more efficiently, leading to potential savings on repairs and replacements.Economic Benefits of Fuel EfficiencyImproved fuel efficiency saves you money at the pump and has long-term economic benefits. With better fuel economy, you spend less on fuel, ultimately saving more money in the long run. Additionally, a fuel-efficient vehicle may have a higher resale value.Practical Fuel Efficiency HacksNow that you understand the importance of fuel efficiency, let's explore some practical hacks to help you save money and reduce your fuel consumption.When it comes to maximizing fuel efficiency, there are several key maintenance tips that can make a significant difference. Ensuring that your vehicle is properly maintained is crucial for keeping it fuel-efficient. Regular oil changes not only help to prolong the life of your engine but also improve fuel economy by reducing friction. Clean air filters are essential for optimal engine performance and fuel efficiency, as they prevent dirt and debris from clogging the engine. Moreover, maintaining properly inflated tires can help reduce rolling resistance, which in turn enhances fuel efficiency.Maintenance Tips for Better Fuel EfficiencyMaintaining your vehicle properly is crucial for keeping it fuel-efficient. Regular oil changes, clean air filters, and properly inflated tires can greatly improve fuel economy. Additionally, getting your engine tuned up and checking for any mechanical issues can help optimize your vehicle's fuel efficiency.Aside from regular maintenance, certain driving habits can also play a significant role in improving fuel efficiency. Avoiding aggressive driving behaviors, such as rapid acceleration and hard braking, can help conserve fuel. By practicing smooth acceleration and deceleration techniques, you can reduce fuel consumption and minimize wear and tear on your vehicle. Furthermore, maintaining a consistent driving speed and avoiding excessive idling whenever possible can further enhance fuel efficiency.Driving Habits That Improve Fuel EfficiencyYour driving habits have a significant impact on fuel consumption. Avoid aggressive driving, such as rapid acceleration and hard braking, as it wastes fuel. Instead, practice smooth acceleration and deceleration techniques. Additionally, try to maintain a consistent speed and avoid excessive idling whenever possible.Advanced Fuel Efficiency StrategiesWhile maintenance tips and driving habits can make a noticeable difference in your fuel economy, you can also employ advanced strategies for even greater efficiency. When it comes to maximizing fuel efficiency, every little detail counts. In addition to the common tips like maintaining proper tire pressure and avoiding aggressive driving, there are more advanced techniques that can further enhance your vehicle's performance.Utilizing Technology for Fuel EfficiencyModern vehicles often use fuel-saving technologies, such as start-stop systems and eco-driving modes. These features are designed to optimize fuel consumption and reduce emissions. Understanding how these technologies work and incorporating them into your driving routine can significantly improve your vehicle's fuel efficiency.Furthermore, using advanced tools like smartphone apps or onboard diagnostics can provide valuable insights into your driving behavior. These tools can track factors such as acceleration patterns, speed variations, and idling time, allowing you to pinpoint areas where you can make adjustments to enhance fuel efficiency further.Alternative Fuels and Their EfficiencyExploring alternative fuels is another avenue to consider for improving fuel efficiency. Electric vehicles (EVs), hybrids, and vehicles running on biofuels or hydrogen offer environmentally friendly alternatives to traditional gasoline-powered cars. While the initial cost and availability of these vehicles may vary, the long-term benefits in terms of reduced emissions and lower fuel costs make them a compelling option for eco-conscious drivers.Additionally, advancements in infrastructure for alternative fuels are making it easier than ever to access charging stations for EVs or biofuel refueling stations. By embracing these alternative fuel options, you contribute to a cleaner environment and enjoy the satisfaction of knowing you are maximizing your vehicle's fuel efficiency potential.Debunking Fuel Efficiency MythsThere are many misconceptions surrounding fuel efficiency. We can better understand the truth behind fuel-saving strategies by debunking these myths. Common Misconceptions About Fuel EfficiencyOne common myth is that turning off your engine and restarting it uses more fuel than idling. In reality, idling for more than 10 seconds consumes more fuel than restarting your engine.Another prevalent misconception is that driving a manual vehicle is always more fuel-efficient than an automatic one. While it's true that manual transmissions can offer better fuel economy in some cases, modern automatic transmissions have become increasingly efficient, narrowing the gap between the two.Truths Behind the MythsAdditionally, using premium gasoline does not significantly improve fuel efficiency unless your vehicle specifically requires it. It's also crucial to debunk the belief that fuel additives, such as products claiming to boost MPG, significantly impact fuel economy.Furthermore, the idea that overinflating your tires can drastically improve fuel efficiency is a myth. While maintaining proper tire pressure is essential for optimal fuel economy, overinflating your tires can lead to uneven wear and reduced traction, ultimately affecting your vehicle's performance and safety.In conclusion, fuel efficiency is critical to saving money at the pump and reducing our environmental impact. Understanding the science behind fuel efficiency, adopting practical hacks, and dispelling common myths can improve your fuel economy and contribute to a more sustainable future.GET A QUOTE IN 60 SECONDS 

Spring is almost here, with blooming flowers and growing trees. It's a beautiful time of year, but for allergy sufferers, it marks the beginning of sneezing, watery eyes, and endless tissues. As you climb into your car, seeking refuge, remember it can become a haven for allergens. Those pesky irritants find their way inside, undermining your mobile oasis and challenging your comfort while driving. Shut out the sneezes. Understanding Pollen Invasion As Spring unfolds, so does the invisible ballet of pollen grains, adrift on the breeze like tiny parachutists destined for destinations far and wide. For many of us, these minuscule travelers are more than a nuisance; they're infiltrators that slip past defenses, often unbeknownst to us. They settle on our clothes, hair, and infiltrate the sanctuary of our vehicles through open windows, ventilation systems, and doorways. Recognizing this covert operation is the first step in fortifying your car against these microscopic invaders and preserving the sanctity of your sinuses. Pollen's Seasonal Patterns With spring's warmth coaxing blooms into being, pollen counts surge. Plants release pollen grains into the air, trends that ebb and flow with weather patterns and plant cycles. As temperatures rise, trees, grasses, and weeds embark on their annual reproductive dance. Pollination peaks, creating an invisible cloud of irritants - a pollen tsunami if you will, unseen but deeply felt by allergy sufferers. Pollen can travel hundreds of miles on the wind, making nowhere truly safe during peak seasons.Knowing when plants pollinate helps: Trees tend to release pollen in early spring, grasses in late spring to summer, and weeds in late summer to fall. Armed with this information, you can better anticipate and reduce allergy irritants during drives.How Pollen Enters Vehicles Pollen has a sneaky way of infiltrating your space, riding on the breeze, effortlessly slipping through cracks and crevices in your car’s defenses. Open windows, for instance, welcome a deluge of these tiny, allergenic particles. But that's not the only entry point—your car's ventilation system is a prime suspect too. Even with windows up, pollen can sneak in as you blast the AC or heat. Plus, every door opening is a possible breach. Imagine the invisible swarm of pollen, riding on a gust of wind, entering your sanctuary whenever you step in or out. When you park under trees, especially during peak pollen hours, these microscopic stowaways hitch a ride on your clothes, hair, and shoes—a direct transport route into your car's interior. Meanwhile, the exterior air vents act as gateways, drawing in outside air—laden with pollen—directly into the cabin during normal operation of your vehicle’s climate control systems. Lastly, even the cleanliness of your car's exterior can play a role. Pollinated dust and debris stick to the surface, waiting to be whisked inside the next time you roll down a window or open a door. Pre-Drive Rituals for Allergy Prevention Before turning the key, a few proactive measures can set the stage for a sniffle-free journey. Keep your car's cabin as a fortress against pollen by replacing its air filter with a high-efficiency particulate air (HEPA) filter. This doesn’t just keep the air inside cleaner, but it serves as a tighter net, trapping those microscopic invaders before they wage war on your sinuses. As you prepare to hit the road, consider adopting a "clean cabin protocol." Start by giving your car a thorough exterior wash to remove allergens clinging to the surface and wheels. Wipe down surfaces with a damp cloth to capture pollen grains that have infiltrated your space. Keep windows rolled up, especially during high pollen count days, and before you enter, do a quick de-pollen shake-off—leave jackets and shoes at the doorstep of your car to keep those pesky particles at bay. Car Cleaning Essentials Your car is a personal haven, designed for safety, comfort, and even a bit of solitude. However, it can also become a hotspot for allergens if not properly maintained. Establishing a robust cleaning routine is essential to keep it as a sanctuary from spring allergies.Regular vacuuming is critical to remove pollen and dust. Focus on the floors, seats, and mats where allergens settle.Weekly, wipe down interior surfaces including the dashboard, steering wheel (paying careful attention to grooves and crevices) and door handles.Change your car’s air filter every 12,000 to 15,000 miles to maintain clean airflow and minimize pollen infiltration.Invest in a quality air purifier or add allergy-reducing sprays to your cleaning arsenal. These can help neutralize pollen and other particulates in your vehicle's environment.Consider using protective seat covers that are easy to remove and wash. This creates a removable barrier that can trap allergens, preventing them from embedding into the car's upholstery permanently.Lastly, keep your windows up when parked, as this helps to prevent a deluge of pollen from entering. Implementing these practices creates a cleaner, more allergen-free zone within your vehicle. Protective Gear and Practices Before hitting the road, don a pair of sunglasses to shield your eyes from pollen. This physical barrier can help minimize irritants that lead to itchy, watery eyes. Moreover, wearing a pollen mask, especially during peak allergy seasons or when driving through high-pollen areas, can significantly cut down the number of allergens you inhale. While it might look a bit odd to some, your sinuses will thank you. Regularly changing your vehicle's cabin air filter is also a practice not to be overlooked. It's your car's first line of defense against the microscopic onslaught of spring allergens.Having pre-moistened wipes handy to quickly clean your hands and face after exposure to high-allergen environments can also be a game-changer. This simple step can prevent a significant amount of pollen from being transferred into the car. Additionally, if your vehicle’s system allows, activate the recirculate air feature to minimize the influx of outside air—chock-full of allergens—into the cabin. Be proactive about checking local pollen counts and try to limit driving when they're at their highest. Keeping a change of clothes in the car to swap into after being outdoors can further reduce the carry-in of allergens. These small adjustments can lead to substantial relief for allergy sufferers. In-Drive Allergen ManagementThink of your car as a mobile bubble, a sanctuary against allergens. Keeping windows up during high pollen counts is a non-negotiable rule. It's a little-known fact, but using your car’s climate control system can serve as a makeshift air purifier. Ensuring the air-con filters are in tip-top condition is vital, as they're your invisible guardians against sneeze-inducing particles. Lastly, embrace the "clean as you go" mantra. Regularly dusting the dashboard and vacuuming the interior keeps the pollen count down and your spirits up.Ventilation StrategiesWhen embarking on a drive, selecting the right ventilation setting is crucial to keeping those pesky pollen grains at bay. Utilize the max AC setting to circulate filtered air within your vehicle, minimizing the entry of outdoor allergens.Avoid opening windows, especially during peak pollen times of day or in high-pollen areas.Instead, opt for internal circulation to maintain clean air inside the vehicle, leveraging cabin air filters (regularly replaced) to trap particles.Keep air vents closed or directed away from you when driving on rural roads or through areas dense with vegetation, where pollen concentration is higher.In times when outdoor air is necessary, crack windows slightly rather than fully opening them to maintain control over how much unfiltered air enters your sanctum.Remember, your car's air system isn't a fortress against allergens. Regularly replacing cabin air filters ensures a breath of fresh air during this sneeze-inducing season.Filtration and Air QualityKey to a pollen-free drive is the state of your cabin air filter—it's your first line of defense. Beyond keeping filters fresh, let's explore additional tips to keep your car's atmosphere clear.Replacing your cabin air filter is just step one. For all-year protection, invest in a high-quality, HEPA-grade filter that captures fine particles, ensuring that even the most stubborn of pollen stays outside.Ensuring optimal air quality also means being vigilant about cleanliness. Regularly vacuum the interior, as upholstery can trap pollen, and wipe down surfaces to prevent accumulation of allergenic particulates.Furthermore, consider adding an in-car air purifier. These devices work alongside your HEPA filter to capture and neutralize a broader spectrum of airborne irritants, offering another layer of defense against sneeze triggers.To recap, fine-tune your filtration system with a top-notch filter, keep a clean interior, and supplement with an air purifier. With this trifecta, you'll breathe easier knowing your car is a haven from the pollen-laden world outside.Post-Drive Allergy Mitigation After you've parked your car, don't just hop out and forget about it until the next drive. A quick post-drive routine can be incredibly effective at keeping allergens at bay. Take a moment to wipe down any surfaces you’ve touched with a damp cloth. This will help remove any pollen residues that may have latched on, preventing them from becoming airborne again when you start your next journey. For an added level of protection, leave a pack of hypoallergenic wipes in your car for easy access after each trip. Use these wipes, which are designed to trap and lock away allergens, to swipe over frequently handled areas like the steering wheel and gear shift before calling it a day.Decontamination After TravelWhen you've concluded your travels, consider your car a potential pollen sanctuary. Before leaving your vehicle, ensure you have a plan to decontaminate yourself to avoid bringing allergens into your home. Consider changing your clothes or giving them a good shake outdoors if a full change isn't feasible. Clothes can carry pollen that has settled on them, so minimizing what comes indoors can significantly reduce allergen exposure. Showering immediately after arriving home could wash away any remaining pollen that may have adhered to your skin or hair during your journey. It also provides a refreshing reset from any of the day's accumulated stress. If changing or showering right after travel isn't possible, at least wash your hands and face. These areas are more likely to have direct contact with pollen; washing them can offer immediate relief from itchiness or discomfort. Lastly, keep a laundry basket by the door specifically for travel garments. This helps to isolate pollen-carrying clothes, making it less likely for them to spread allergens throughout your living space.Maintaining a Pollen-Free ZoneKeep windows closed, especially during high-pollen periods.When you're cruising down the road with the windows down, it's like sending an open invitation to pollen. Imagine those tiny particles as unwanted guests at a party in your car, clinging to every surface. Instead, run your car's air conditioning to filter the air, keeping it clean and reducing the pollen intrusion. Always ensure the AC is set to recirculate the interior air instead of drawing in from the outside.Park away from high pollen areas, like under trees.Snagging that shady spot under a leafy tree is tempting, especially on a sunny day. But consider this: it's also a prime pollen dispenser, ready to shower your car with allergens. Opting for a sunnier spot might mean stepping into a warm car, but you'll thank yourself when you breathe easier.Let’s face it—pollen can be a crafty hitchhiker. Despite all efforts, some will find their way inside your vehicle. That's why a routine cleanup with a damp cloth can be your secret weapon, capturing those pesky particles and banishing them from your domain. Aim for a weekly wipe-down during peak allergy season to keep your cockpit clear and sniffle-free. GET A QUOTE IN 60 SECONDS 

Winter storms can be treacherous for drivers. Slick roads, poor visibility, and extreme cold can make even a routine drive dangerous. Preparing your car properly before a winter storm hits can give you peace of mind and help ensure safety on the road. Follow this winter car care checklist and you’ll be ready to take on whatever Old Man Winter throws your way.Check Tires and Tire Pressure Inspect all tires, including the spare, for adequate tread depth—replace any that are worn. The minimum recommended tread depth for winter driving is 4/32 of an inch. More is better.Check tire pressures. Make sure they’re set to the vehicle manufacturer's recommended inflation pressure, which is usually located on a sticker inside the driver's side door or in the owner's manual. Properly inflated tires will give you better winter traction.  Consider special winter or all-season tires. These provide exceptional cold-weather performance over summer tires in snow and ice conditions.Top Off FluidsEngine oil: Helps the engine turn over easily in cold weather. Check the dipstick and top it off if low.Coolant: Prevents engine freeze up and allows heat to flow from the engine to warm the interior. Should be filled to the “Full” line on the reservoir.Gas tank: Always keep the tank at least half full to avoid gas line freeze-up.Washer fluid: Fill with no-freeze washer fluid. This will prevent ice from forming on the windshield.Inspect Battery and CablesCold weather is hard on car batteries. Have the battery tested to ensure it can hold a full charge. Replace if necessary.Check cable connections for corrosion and tighten if needed so power can flow freely between the battery and starter.Clean corroded battery terminals with a wire brush to optimize electrical flow.Check Wipers and DefrostersMake sure all defrosters and heating system components work properly. Running the air conditioner for a few minutes in defrost mode helps ensure proper lubrication of seals to prevent cracking. Examine windshield wiper blades and replace any that appear worn, twisted, or otherwise damaged. Refill wiper fluid reservoir with winter formula fluid.  Prepare an Emergency KitIn case you get stranded or stuck, every vehicle should carry a winter storm emergency kit including:Flashlight with extra batteriesJumper cables Basic toolkit First aid kitBlanketExtra hats, socks, mittensBag of abrasive material (sand, salt, cat litter) ShovelSnacks and bottled waterExternal phone charger/backup batteryPractice Cold Weather DrivingDuring the first snowstorm, practice stopping and turning in an empty lot to reacquaint yourself with how your vehicle handles on snow and ice. Turn slowly to avoid skids.Increase following distance from other vehicles 8-10 seconds to allow for extra stopping time.Know what to do if you begin to slide. Take your foot off the gas and steer gently in the direction you want the front of the car to go. By inspecting your vehicle, replenishing fluids, testing the battery, ensuring good visibility, and preparing an emergency kit before winter storms hit, you can drive with confidence no matter what kind of punch Old Man Winter throws your way this year. Stay safe out there! GET A QUOTE IN 60 SECONDS

WHAT IS APR FOR CARS Auto refinancing can be a helpful option for individuals looking to lower their monthly car payments or secure a better interest rate. For those with bad credit, finding a competitive APR for cars can often be a daunting task. Fortunately, there are specialized lenders and programs available that cater to individuals in this situation.Understanding APR for CarsThe Annual Percentage Rate (APR) is a critical factor when considering auto financing. It represents the total cost of the loan, including the interest rate and any additional fees charged by the lender. For individuals with bad credit, securing a favorable APR is particularly essential, as it can significantly impact the overall affordability of the loan.Auto Approve: A Solution for Bad Credit Car Refinancing Auto Approve is a reputable provider offering auto and motorcycle refinancing loans, as well as auto lease buyback programs. This company understands the challenges faced by individuals with bad credit and aims to provide viable solutions. With loan terms available up to $150,000 and a range of lender options, Auto Approve offers flexibility in customizing loans to suit individual needs.Qualifying for Auto Refinancing with Bad Credit While traditional lenders may impose strict restrictions on individuals with bad credit, Auto Approve offers a more inclusive approach. There are bankruptcy limitations to qualify, and applicants must have an annual income of at least $24,000 to apply. However, the option for co-signers and co-borrowers is available in most cases, providing an avenue for applicants to bolster their qualifications.Benefits of Auto Refinancing for Individuals with Bad CreditCarrying the burden of high-interest car loans due to bad credit can be financially burdensome. By refinancing, individuals can potentially secure a lower APR, resulting in reduced monthly payments and overall cost savings. This can free up financial resources for other essential needs, contributing to improved financial stability.Securing Favorable APR: Strategies for Applicants with Bad Credit While bad credit may pose challenges in securing favorable APR for car refinancing, there are strategies to enhance eligibility and obtain more competitive terms. Building a positive payment history and improving credit score demonstrates financial responsibility, thereby potentially unlocking access to better loan terms and APR.The Importance of Thorough ResearchWhen seeking to refinance a car with bad credit, engaging in comprehensive research is crucial. Evaluating various lenders, understanding their terms and requirements, and comparing APR offers can empower individuals to make informed decisions. Whether opting for traditional lenders or specialized providers like Auto Approve, a thorough assessment is fundamental to finding the most beneficial solution.Increasing Financial LiteracyGiven the impact of APR on car refinancing, individuals with bad credit can benefit immensely from enhancing their financial literacy. Understanding the factors that influence APR, such as credit score, loan term, and lender policies, empowers borrowers to navigate the refinancing landscape more effectively. This knowledge can also aid in identifying potential red flags or predatory lending practices, promoting informed decision-making.In summaryFor individuals with bad credit seeking to refinance their car, securing a competitive APR is a crucial priority. Companies like Auto Approve offer specialized solutions designed to accommodate the needs of this demographic, providing pathways to lower monthly payments and improved financial well-being. By understanding the significance of APR, exploring refinancing options, and enhancing financial literacy, individuals can make informed choices that align with their long-term financial goals. By addressing these core aspects, individuals can potentially enhance their financial well-being and take proactive steps towards better managing their car loan obligations, transforming their financial outlook. GET A QUOTE IN 60 SECONDS 

There is no cargo that you will ever carry that is more important than your kids. Keeping them safe in the car is one of the most important tasks you have as a parent, and a key to that is making sure that they are in the proper car seat or booster seat. From selecting the right seat to ensuring you are using it properly, let’s talk about how car seats work. Here’s your guide to car seats and booster seats.How effective are car seats?Car seats are imperative when it comes to traveling with children. Experts agree that the use of a car seat reduces the risk of injury in a crash by 71%-82%. Booster seats reduce the risk of injury in a crash by 45% for kids ages 4-8 according to the CDC. It’s estimated that since 1975 when car seats were first introduced, over 11,500 children's lives have been saved. But car seats are only effective if they are size appropriate, installed properly, and used correctly.  What are the different types of car seats?As your child gets older and heavier they will gradually transition to different car seats and booster seats. #1: Infant Car Seat, rear-facing used from birth until ages 1-2.The first car seat you will get is a rear facing seat that is installed in the backseat of your car. This type of seat should NEVER be placed in the front of the car, as an airbag deployment can cause death or serious injury. Your baby should stay in a rear-facing seat as long as possible, until they are either too tall or too heavy for the seat. Most children will stay in their infant car seat until they are between one and two years old. It’s important to check the limits on your infant car seat and get a new car seat when your child has outgrown it.  #2: Read-facing convertible seat.When your child outgrows their infant seat the next step is the convertible seat. It should be used in a rear-facing position for as long as possible, as this is the safest position for a child. The age, height, and weight that your child will outgrow this will depend on the specifications of your car seat.  #3: Front facing convertible seat.When your child reaches the height and weight limit for rear-facing mode, it’s time to switch to a forward facing car seat. This typically happens between ages 4 and 7, depending on the size of your child. #4: Booster seat.When your child outgrows their car seat they still must remain in a booster seat. They should be at least 4 years old and be able to sit up independently for an entire car ride. If your child is still unable to sit up comfortably for a long car ride, it may be better to get a car seat with a higher height and weight limit until they are comfortable on their own. Booster seats are designed to give children a boost so that the vehicle’s seat belt straps can fit them properly and work effectively. Kids should remain in a booster seat until they are at least 4’ 9”. How do I properly install my car seat?Each car and car seat is different in how they install and operate. It’s best to consult your car’s owners manual in conjunction with the car seat manual to determine how to install it. If you are unsure if your car seat is installed properly, check with your local fire department or hospital to find out when the next car seat checkup event is. Here’s how to know if your car seat is installed properly: It will not move more than one inch from side to side or front to back.The harness straps are at or below the baby's shoulders for a rear-facing seat.The harness straps are at or above the child’s shoulders.You should not be able to pinch any material on the shoulder straps.The angle of the car seat is correct, as indicated by a level marker on most car seats.When is it time to get a new car seat?As your child reaches the weight and height limit for each car seat, it’s time to get the next size car seat. But there are a few other times that you may need to get a new car seat: Your car seat has expired.Car seats come with expiration dates that help ensure that certain components do not become too worn or damaged. The lifespan of a car seat is typically 6 years. Refer to the owner’s manual to determine when your car seat is no longer safe for use.  Your car seat was in an accident.If the car seat was involved in an accident it’s a good idea to replace it. The National Highway Traffic Safety Administration recommends replacing it if any of the following things occur:The collision caused any injuries.The vehicle was towed.The door nearest to the car seat was damaged.The airbags were deployed.If the accident was a simple fender bender with no real damage, the car seat is most likely fine. But exercise good judgment when determining whether or not to replace the seat. There is any damage.Car seats put up with a lot of abuse over time, and it’s possible for daily wear to cause substantial damage to the car seat. If you notice any cracks or loose parts, it’s best to replace the seat. Damage can cause the seats to be less effective.How can I keep my kids safe in the car?Aside from properly installing and using a car seat, there are other things you can do to keep your children safe in the car. Keep kids under 13 in the back seat. Keep kids rear-facing for as long as possible.Remove coats and bulky clothing before securing your kids in the car seat. This will keep the harness closer to their bodies and provide more protection. Use a blanket or drape their coat over them to keep them warm in the winter.Resist using car seat accessories that did not come with the car seat, such as padded straps. These items have not been tested for safety.Register your car seat with the manufacturer. This will keep you up to date on any recalls or product updates that you may need to know. That’s what you need to know about car seats.There are a lot of car seats on the market, but the best car seat is one that fits your child, works with your vehicle, and is used properly. Proper installation and proper daily use are imperative.You know what else is imperative? Saving money on your car payments! Contact Auto Approve today to find out how much money you could be saving!GET A QUOTE IN 60 SECONDS 

Impulse shopping happens to most of us at one time or another. Whether it’s an all-out Target binge or a last minute purchase while waiting in line, impulse shopping can be hard to overcome. But impulse buying can be dangerous for our finances, cause chaos for our budgets, and create a huge amount of waste. So how can we overcome our impulses and keep our budgets in check?Here’s everything you need to know about impulse buying and how you can resist the temptation to buy things you don’t need.What is impulse buying?Impulse buying is any unplanned purchase that is made. It is typically not needed, but instead something that the consumer decides that they want. It can be as small as a pack of gum in the checkout line or as expensive as a new designer handbag. While impulse buying may fit into your budget and not be an issue, impulse buying can often lead to overspending and can lead to financial issues. There are a few telltale signs that impulse buying is becoming an issue for you. If you tend to go shopping to make yourself feel better and consider shopping a form of “self care”, it may be a sign that you are an impulse buyer. If you are often spending more than you can afford on things that you do not need, that is a red flag that your impulse buying is a big problem.  If you often feel buyer’s remorse or end up not using the products you are buying, that is another telltale sign that you are impulse buying.What causes impulse buying?Impulse buying is incredibly common–so common in fact that there has been tons of research on the subject. Scientists have been fascinated by this consumer behavior and have spent a lot of time researching why this is such a common occurrence. Reason #1: We see something we want.This seems pretty obvious, but a lot of impulse purchases are made simply because we see something we like and it brings us joy. If we see something that makes us immediately happy it can be a pick-me-up, turning a boring or sad day into a good day. Maybe it’s a book that sounds good, a piece of decor that we think will brighten up our living room, or maybe just a chocolate bar in the check out line. All of these things can bring immediate joy to us.Reason #2: There’s a deal.Sometimes seeing something that’s on sale sparks a sense of need that wouldn’t otherwise be there. While you didn’t go to the store to get a sweater, seeing one that is 20% off will suddenly make it feel as if we need it that instant. Many of us are hardwired to look for the best deals as we equate work with money, so finding a good deal will mean that we have to work less than normal to get the desired item. It can be hard to pass up a good deal, and you may even feel guilty if you do not take advantage of a bargain.Reason #3: We get lost in aspiration.We all have goals in life, short term and long term. For many of us the short term goals are things like start a proper skincare routine,  eat more healthy snacks, and exercise more. All of these aspirations can lead to impulse buying when we are feeling vulnerable. You see a certain face lotion that promises you will look longer and you think, yes! This lotion will help me start a skincare routine. You see a workout outfit and you think, of course! This outfit will motivate me to hit the gym. But all of these aspirational purchases tend to lead nowhere BECAUSE they are impulses. They are not thoughtful purchases that you are aiming to add to your life to reach your goals.Reason #4: We don’t want to run out of something.When we find a product that we like we may fear running out of it. This feeling can be intensified if there is a limited amount of something or there is a sale. We want to stockpile whatever we can so that we do not face our fears of being without something.Who is most likely to impulse buy?Most of us impulse buy at one time or another. In fact a survey in 2022 from Slickdeals reported that 73% of respondents buy most of their goods without planning. While many people make impulse purchases there are certain personality traits that make some more likely to impulse buy than others. Research suggests that people with extroverted personalities tend to impulse buy more than introverts. Research also shows that men and women both impulse shop, but men tend to buy electronics while women tend to buy clothing and home goods. Younger people tend to shop impulsively at a higher rate than older people.What are some common impulse purchases?Literally anything can be an impulse purchase. It is merely defined as a purchase that you do not need. But here are the top impulse purchases according to a 2022 GWI study.Clothing. 40% of those who responded reported buying clothes on impulse in the last 3 months.Food and drink. 36% of those who responded reported buying food or drink on impulse in the last 3 months, either at a restaurant or store.Personal care items. 26% of those who responded reported buying personal care items on impulse in the last 3 months.Technology/electronics. 22% of those who responded reported buying some sort of tech or electronics purchase on impulse in the last 3 months.Household products. 20% of those who responded reported buying a household product on impulse in the last 3 months.Entertainment. 18% of those who responded reported buying some sort of entertainment on impulse in the last 3 months, such as a book or movie.Home goods/ furniture. 13% of those who responded reported buying furniture or something for the home on impulse in the last 3 months.Travel/leisure. 12% of those who responded reported an impulse travel purchase in the last 3 months.Impulse purchases often happen at the store, but online impulse purchases are almost more common these days. With social media influencers linking everything they use every minute of the day, a quick flip to your Instagram can easily turn into an impulse purchase. When free shipping and free returns are offered it is even more difficult to avoid impulse purchases. You feel like you can make an easy return should you change your mind, so your brain is able to justify the purchase even more readily. But even with free returns, most consumers report that they tend to not return impulse buys.How can I stop impulse buying?All of this information about impulse buying can help us to break this tendency. After all, knowing why we buy these things can help us avoid the triggers that lead us there.Only go to the store with intention.Going to the store because you are bored, frustrated, stressed, or emotional will set you up to fail. Instead of going to the store with a vague list or idea of what you need, go to the store with a clear intention of what you need. Only use cash at the store.Credit cards are great for many reasons, but having an open credit line can put us in a position to overspend. When you bring cash you can ensure that you will under no circumstances spend more than you have. Put it back on the shelf if you are unsure.Sometimes we see something and love it, but we aren’t sure if we need it. When this happens it is a good idea to simply put it back or save your online purchase for later. This gives you time to think about it and decide if it’s truly something that is worth buying.Remove your saved card information.Being able to save your card online makes online shopping a whole lot easier. From the comfort of anywhere you can click and buy without having to even grab your wallet. Removing your card information will force you to take a few more steps and therefore give you more time to determine if you truly want something. If you can’t be bothered to get your wallet to make a purchase, it probably isn’t worth it in the first place.Unfollow the influencers and unsubscribe from emails.Avoiding temptation can be hard, but unfollowing the people and companies that are tempting you can help you stop making impulse purchases. If you can’t see the product then you can’t be tempted to buy it.That’s what you need to know about impulse buying.Impulse buying is tricky and it can be hard to stop, but using our tips above can help you save money and avoid the wastefulness of impulse buying. Looking for other ways to save money? Think about refinancing your car loan with Auto Approve! Contact us today to find out how much money you could be saving!GET A QUOTE IN 60 SECONDS

When you are a child, money is pretty straightforward. You earn money so you can spend your money on the things you want and need. But as you get older money becomes a more and more complicated idea. Whether you are planning for retirement, saving for your kids’ college fund, or just trying to balance your daily budget, money management can be a bit overwhelming. So how do you know when it’s time to seek financial advice, and how do you decide which advisor is best for you? Here’s the difference between a financial advisor and an accountant and how to decide if you need one (or both). What is a financial advisor?A financial advisor is a professional who helps their client with different parts of their financial lives. Advisors can look at your financial health and help you to meet whatever goals you would like to set. They are essentially your partners in managing your finances and investments. Financial advisors may help you with any or all of the following:They can help you budget and pay back your debts.If you have debts that you are trying to pay back, financial advisors can help you develop strategies and execute a plan. They can also assist in creating and maintaining a budget so that you do not have a problem in the future.They can help you invest.Financial advisors are experts in investing. They can help advise you on what type of investments are best for you based on your income, goals, and risk tolerance.  They can help you save for retirement.Planning for retirement is essential nowadays. Advisors can help you develop a long term goal to retire based on your income and expenses. They can help you plan for another big expense, such as education.If you are trying to save for your kids’ education fund or for another large purchase, financial advisors can help you plan. They can help you with your taxes.Financial advisors can help you to prepare your taxes and maximize your tax deductions. They can help with estate planning.It’s important to have plans in place for when you are no longer here, and a financial advisor can help sort out your estate when that time comes.What is an accountant?An accountant is a financial expert who specializes in taxes specifically. They have a much narrower focus, and instead of helping with all aspects of your finances they can assist you with tracking your transactions and filing your taxes. If you own a business or are self-employed, an accountant is an essential role that can help you with your business statements as well as your business taxes.What is the difference between a financial advisor and an accountant?A financial advisor has a much broader role than an accountant and can assist you with many facets of your finances. You will typically meet with a financial advisor much more regularly than an accountant, whom you would typically only meet with around tax season. Financial advisors and accountants hold different certifications as well. Financial advisors usually hold a certified financial planner (CFP) title or a chartered financial analyst (CFA) title. Accountants on the other hand will usually have a certified public accountant (CPA) title.How much does it cost to hire a financial advisor or an accountant?While these services are incredibly important, they can be a significant investment. Financial advisors earn money in a few different ways. Some advisors earn commissions based on the products they sell to their clients, typically around 1% of the client’s annual earnings. Some advisors work on a fee-based model, charging an hourly rate for their services. These fees can range from $100 an hour to over $300 an hour based on the advisor’s experience. There is also a range for how much an accountant may charge you. If an accountant is handling your taxes they will charge you based on how long your return taxes are to file and how complicated it is. A recent study by the National Society of Accountants found that a simple federal and state return with no deductions cost about $220, while an itemized tax return would cost about $320. The cost increased to $457 when a Schedule C form was required.If you need to hire an accountant for other yearly services (if you own a business, for instance), the rate is typically hourly and/or project based. Should I hire a financial advisor, an accountant, neither, or both?You should consider hiring a financial planner if any of the following apply to you.You want to start planning for retirement.You want to start investing but don’t know where to start.You have investments but are losing money.You want to make an estate plan. If a financial advisor is out of your budget, you may qualify for pro bono assistance with the Financial Planning Assistance Association. You may also consider using a robo-advisor such as Betterment or Wealthfront. These services are much more affordable and do not require as much money to get started. You should consider hiring an accountant if any of the following apply to you.Your taxes are becoming increasingly complicated and time-consuming.You own your own business.You need help evaluating your business structure and financial health. If your taxes are pretty straightforward with minimal deductions, an accountant may not be worth it. You may be fine to DIY your taxes or use software to file. But as your taxes become more complicated there is more risk when it comes to doing it yourself. A tax professional can help you maximize your returns and avoid any issues with the IRS. A good CPA will ensure you are compliant with tax law while also saving you as much money as possible. If you have a particularly complicated financial situation, it may be valuable to have both an accountant and a financial advisor. While a financial advisor can help you file your taxes, an accountant specializes in taxes and may be more beneficial to you.  That’s how you can decide if a financial advisor or accountant is a good idea for you.Money gets more complicated as we get older and sometimes it's a good idea to call in the professionals. When it comes to money management, an advisor and/or accountant can be an investment in your own financial health and wellbeing. One easy way you can save money is by refinancing your car loan. Auto Approve has helped thousands of people refinance their car loans and save a lot of money. Find out how much money you could be saving and get your free quote today!GET A QUOTE IN 60 SECONDS  

When we think of loans we tend to think of them as tied to a specific thing. For instance you may take out an auto loan to purchase a car or a mortgage to purchase a house. But there is a more general loan that is available to you if you need cash for a different reason: a personal loan. Personal loans can help consolidate debt, make a large purchase, or help cover a life event such as a wedding. While personal loans are not always a good idea, there are many instances when a personal loan can be useful and may be worthwhile.Let’s talk about how personal loans work.What is a personal loan?A personal loan is a type of loan that can be used for nearly anything. They have a set repayment period and interest rate and you will be responsible for making a payment every month to the lender that loaned you the money. The amounts, interest rates, and repayment period can vary dramatically depending on the lender and the applicant.  A personal loan could be as small as $1,000 but can easily stretch to $100,000. The interest rate will depend on the type of loan it is and can range from 6% to over 30%. Repayment periods can be as short as one year or stretch to seven years.Are there different types of personal loans?Personal loans can all be used with very few restrictions, but there are differences in loan types that you should understand. Loans are divided into two categories, unsecured loans and secured loans. An unsecured loan means that there is no collateral. You can simply sign the loan agreement, get a lump sum of money, and make your payments as they are outlined in your contract. Personal loans are unsecured for the most part. Secured loans mean that collateral is required to receive the money. This means that if you fall behind on payments or your account becomes delinquent, the bank can take your collateral as payment. Auto loans and mortgages are both secured loans because the bank can take your car and house, respectively, as payment if you fall behind. There is another type of personal loan called a credit builder loan that you may qualify for if you are unable to get approved for a regular personal loan. Instead of extending a line of credit for you to pay back, you make payments into an account. The lender will report this to the credit bureaus, allowing you to build your credit. When you pay the full amount, the money is released to you, minus fees.How are interest rates calculated?The interest rate that is offered on personal loans can vary widely. Lenders will consider the following when determining the interest rate for your personal loan:Your credit scoreYour incomeYour debt-to-income ratioThe prime rate, set by the FedYour employment historyThe amount of the loanThe repayment period of the loanYour finances are the biggest factor when it comes to what interest rate you will be offered. Those with the best credit scores and lowest debt-to-income ratios will be offered the best interest rates. A shorter repayment period will also earn you a lower interest rate.What can I use a personal loan for?There are no real restrictions on what you can use a personal loan to buy. Here are some common reasons people get personal loans. An emergencySometimes things happen that catch us unprepared and without the necessary cash. A surprise visit to the hospital can leave you owing hundreds of thousands of dollars. A burst pipe in your home may cause damage that insurance doesn’t cover. The death of a loved one may lead to unexpected funeral expenses. A personal loan can help you cover these costs and pay them back over time. Debt consolidationIf you have several loans with high interest rates that are causing you trouble, a personal loan can help you consolidate. Instead of tracking five or ten accounts you can pay them off with your personal loan and focus all of your payments and energy on one account. An event or holidaySometimes we cannot wait until everything is perfect to take that big trip or make that big leap. Maybe you got a great opportunity to take a trip and need some cash, or maybe it’s finally time to walk down the aisle at your wedding. Either way a personal loan can help you afford it. A home improvement projectAnother common reason for a personal loan is to make an expensive home improvement. A new roof, remodeled kitchen, or an addition can all cost big bucks these days. It may be hard to save that much money, and maybe you simply cannot afford to wait that long. A personal loan can help you make the improvements you need when you need to make them. Is a personal loan better than a credit card?But wait–if you have a credit card with a high limit, why would a personal loan make sense? In general a personal loan will have a better interest rate than your credit card. And more than that, personal loans have fixed interest rates while credit cards have variable rates. This means that at any point your credit card company can increase your interest rate. If you take out a personal loan with a fixed rate you are guaranteed to keep that interest rate for the life of the loan. That doesn’t mean that you should always run to get a personal loan when you need to make a purchase, but it’s a good idea to do some research. If you know that you can pay it back quickly it may make more sense to buy something on your credit card rather than going to the trouble of taking out a personal loan.  How do I apply for a personal loan?Determine how much you need. You obviously want to get a loan that is large enough to cover what you need, but you want to avoid overborrowing. If the loan is too large you may have trouble paying it back, which can cause major trouble down the road and could ruin your credit score. Prepare ahead of time.Prepare for a personal loan application the same way you would prepare for any loan application. Request a copy of your credit report to review for any errors and make sure everything is accurate. If you need a personal loan for an emergency there may not be time to get your finances in order per se, but knowing how your credit report looks will help you determine where you might be able to get a loan. Try to prequalify.You should always try to prequalify for a loan ahead of time, as this will save you a lot of time. This will allow you to weed out lenders that won’t give you a personal loan, rather than going through the entire application process with each and every lender. Not all lenders offer pre qualifications, so you may have to fill out actual applications for some loans with no real idea whether or not you will qualify. But preliminary research will hopefully help you determine if you qualify. After you prequalify with a few different lenders you can move onto the application process. Apply.The application process will differ from lender to lender but you will typically need the following to apply:Driver’s license or other government issued photo identificationProof of residenceRecent pay stubs or recent tax returnsBanking information The lenders will request access to your credit report which will count as a hard inquiry on your report. You want to be sure to apply to all of your lenders at the same time so that all hits will count as one hard inquiry (the credit bureaus give you a fourteen day window where all requests can be lumped together as one hit). Get approved and receive your money.After you are approved and sign all of the documents, you can then receive the money for your personal loan. The time of this will vary from lender to lender, but you will usually have your money deposited to you as one lump sum of cash within a few days. Some lenders can even complete this on the same day. Pay your loan back.It’s incredibly important to make regular, on time payments to your lender. Missing payments can trigger fees and cause damage to your credit score that is hard to come back from. That’s everything you need to know about personal loans. Personal loans can be very useful for many people. Whether it’s an emergency that hits your wallet hard or an opportunity that you can’t pass up, sometimes you just need cash fast.  If you need cash and have a car loan, refinancing can help free up some money for you. Contact Auto Approve today to find out home much money you could be saving! GET A QUOTE IN 60 SECONDS