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COLLGE CARS / Maintenance & Repair UPDATE!

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Used Cars & College

Click Image for Mazda 6 Inventory

 

Before you know it they’ll be on their way! Not to worry, there’s still time to hunt for the perfect car since most first year students won’t begin driving until second semester. Returning students however need to start their search today!

Check these essential points you’ll need to consider when making your choice. Whether campus is up the street or across the state, finding the right ride, staying on your budget, and maintaining peace of mind are job #1. 

What’s your budget?

School is expensive, particularly if you have more than one scholar heading to college. The first thing to consider when looking for a back-to-school vehicle is what a reasonable budget might be. How much you can afford for a down payment and monthly loan installments will determine your options.

Buying a used back-to-school car is a smart choice, especially with new car prices today. Many new cars will lose over half their value in the first five years. This can be quite a pill to swallow if you’re planning to upgrade anytime soon. Buying used means that someone else takes the hit for you!

 

How far are you driving?

Is school just down the road, a few hours across the state, will it be driven to and from daily? This one is critical, your car’s health can depend on your travel distance. Driving shorter distances can actually harm your engine by not allowing the engine to reach an efficient operating temperature. This lower temperature may stop oil from rising to it’s optimal temperature and viscosity. It’s thicker with a slower rate of flow especially in cold weather. This can increase friction between the moving parts of a vehicle’s engine and transmission during cold weather. I suggest the five minute rule when warming up the engine. This warms up the oil so it’s less viscous and flows better.  A newer vehicle with better over all efficiency may also be a consideration for short distances. When driving longer distances, one with impressive miles-to-the-gallon may be the best choice, especially today! 

 

How easy will it be to maintain?

The cost of repairs should be a strong consideration when choosing a back to school car. Unless you’re student is majoring in state-of-the-art auto mechanics they’ll appreciate easy maintenance and your pocket will too! The factors below can determine easy vs hard when it comes to repairs and regular maintenance. Included are some common examples of cars that meet these requirements!

 

Highly regarded as reliable

Subaru Outback

7th to 9th generation Honda Civic, manufactured from 2001 to 2016

Toyota Camry

Honda Civic

 

Room to work and access parts

2007 to 2013 Chevrolet Silverado

Ford Crown Victoria

Honda Civic

Subaru Outback

Toyota Camry

Nissan Titan

Ford Edge (Also has great fuel economy)

 

Simple Technology

Chevrolet Silverado

Ford Crown Victoria

Subaru Outback particularly models from 2010 to 2014

Toyota Camry

Toyota Corolla

 

Easy access to replacement parts

Toyota Corolla

Honda Civic 7th to 9th generation manufactured from 2001 to 2016

 

Have you done your research?

Practice what you preach: always do your homework! Once you establish your budget and the appropriate vehicle, it’s time to narrow down your selection to a list of ideal cars.

When creating this list, be sure to focus on practical options and vehicles that will suit yours and your young driver’s needs for the next few years without breaking the bank. Avoid big, luxury, or sporty cars, as costs are notably higher when it comes to maintenance, major repairs, insurance, and fueling.

Be sure to compare your picks with Consumer Reports. This publication collects data from over a million cars per year and presents reliability information that covers the past decade. You should also look into online reviews of the vehicles you’re considering, weighing the pros and cons of each. Ensuring that you’ve picked a reliable vehicle could save your loved one down the road.

 

Do you know what you’re buying?

Once you’ve narrowed your options, it’s time to check it out in person. When buying a used car, it’s important to inspect for flaws or damages. Look over the vehicle inside and out during the day when flaws and potential repairs are more easily seen. Getting it checked out thoroughly by your trusted mechanic is always a good idea too. A professional inspection won’t cost too much, and it’ll buy you both peace of mind for future maintenance and repair costs.

 

For price details click on these smart back-to-school options from TM Auto’s inventory  

 

Need help deciding or just want to take a closer look? 

Call or text (757) 560-4252 and ask Mike Love  

 

 

 

 

Sources:

The Carzing Team, “7 Cars that are easiest to maintain and fix” carzing.com March 8, 20219 Web. Retrieved from: https://www.carzing.com/blog/car-reviews/7-cars-easiest-maintain-fix/

TM Auto Wholesalers, ” Inventory” tmutova.com June 29, 2022 Web. Retrieved from: https://www.tmautova.com/

Winter Maintenance ALERT!

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It’s that time again… Ready for Winter?

It’s easy to forget about the cold ahead when it’s still warm enough for a t-shirt, but winter is on its way. Your car navigates dry roads and warm weather just fine! However, can it handle a cold snap and black ice? Now is the time to prepare your vehicle for winter as engine performance and drivability can dramatically decline in cold weather.

As you go over your winter prep checklist, don’t forget to replace old, dirty filters, such as air, fuel, and PCV. A poorly running engine is less efficient and burns more gasoline. You should also go ahead and replace old windshield blades. If you’re particularly worried about the frost, rubber-clad or winter blades can fight ice buildup.

A few other things to check

 

Fluids

One of the best and easiest ways to winterize your car is to check your fluid levels. One of the most important things to double-check is your coolant. Ensure that there is the correct antifreeze/water mixture; fill it to the maximum line. You can pick up a tester at any auto parts store. Another important yet often overlooked fluid to check is your wiper fluid. You should get freeze-resistant wiper fluid to keep your windshield clean and ice-free. Remember to double-check your oil as well and replace it as needed.

Tires

On wet or frozen roads, low air pressure and worn down tires are particularly dangerous. Pick up a tire gauge at any auto parts store and try and keep your tire pressure between the recommended levels for your vehicle according to your manual (usually between 30 and 35 PSI). Check the tread depth quickly and easily using a penny! Place a penny between the treads on your tire, head side down. If the top of his head disappears, your tires are probably okay. However, if the entire head is visible then you may have to replace your tire, the tread is too shallow. You may also want to ask about getting your tires rotated to prevent uneven wear.

Batteries

Winter can be cruel to your battery. Not only does cold weather make your battery less likely to start your car, but it also reduces the battery capacity. As temperatures fall, it’s a good idea to inspect the battery as well as the cables, terminals, and fluid.

When checking over the battery, make sure that there are no cracks and that the terminals fit snugly. Check battery fluid by uncovering the refill hole. Refill with distilled water if the level is below the bottom of the cap. Some automotive stores like Advanced Auto will check your battery for free!

Emergency Kit

Important, but often overlooked, you should always have a safety kit in your car. Having a few safety items such as road flares, a jack, a lug wrench, and a first aid kit can save the day. If you don’t have one now, you should put one together soon! Once you have your basic kit, add these seasonal items to prepare for the cold:

 

  • Flashlight

  • Blanket, leather gloves, and hat

  • Bag of kitty litter/sand

  • Ice scraper/brush and small shovel

  • Leak-proof container of coolant

  • Snacks

 

By updating a few parts and keeping a strict maintenance schedule, you’ll be ready for winter and avoid costly breakdowns right before Christmas! However, if another winter is too much for your car to handle, let’s talk. TM Auto’s inventory is loaded! Take advantage of TM Auto’s Absolute Credit Approval on a used car, truck, van, or SUV.

 

Call (757)560-4552 and ask for Mike Love!

 

UPDATE – The $7000 Used Car… Gone for Good?

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Ask Mike Blog 7k Used Car Gone

SEARCHING FOR THE ELUSIVE $7K USED CAR

I remember when $7,000 used cars were a thing… six months ago! They were for sale in front yards and used car dealerships everywhere and it seemed they would be around forever! Hey, for $10,000.00 – $15,000 you could drive away in something amazing! People, I never thought I’d say this but they may be gone for good. The average transaction price for a used car was $25,410 in the second quarter of 2021, up from $22,977 in the first quarter and 21% year-over-year, according to data from online automotive resource Edmunds. That figure marks the highest average price over a quarter for a used car that Edmunds has ever tracked. In June of this year the average used car price leaped $7,583. The new average cost of a used car is over 33% higher than a year ago, it’s time to reevaluate our expectations. Read more about THE CAR BUBBLE. 

The average cost of a new car in 1990 was about $9,500. This means after the first year’s depreciation (20-30%) and subsequent year’s (16-18% annually) we might buy her used in 1995 for around $2,000.00 – $3,500.00. The average price of a new car in 2020… $37,000. Over the next 5 years that car loses around 60% of its value. If you don’t have a calculator handy that puts the price at around $14,500.00 used. Today we can add about $7,000.00 to that number bringing our estimated cost for the five year old car to $21,500. Expect that number to be higher depending on condition and mileage. Chip shortages, labor problems, and general industry chaos can be held responsible for the blight on our $7,000.00 used cars. 

 

There Is A Bright Side

Quality: New car quality has increased and is still rising, they simply last longer. They’re still kicking like a mule at eleven plus years. This means that a five year old car has a long life ahead of it and the owner knows it. It’s price will reflect its longer life.

Supply and demand: Used cars are practically non existent these days compared to just a year ago. Increased SUV, truck, and crossover sales in recent years has led to less small, inexpensive vehicles on the used market and less means more for private sellers. With less inventory on the market, there is less competition and this is powerful leverage for sellers so if you have an extra, consider selling at a profit.

 

Not As Bright

Larger more expensive vehicles: The COVID collateral damage? Higher end cars with more options are being produced for solvent buyers, shrinking the affordable used car supply. Since you’re not likely to find many of them for sale, they come at a premium. If you do find an inexpensive used car in great shape, move fast, it won’t be available long!

 

Are there any cheap used cars out there worth buying?

2016 Subaru Outback

Of course there are, just increasingly harder to find. Best bet is to purchase from family or close friends that can guarantee the car’s history. 150,000 plus miles is fine as long as the car has been properly maintained and loved. Otherwise it’s anyone’s guess how long the car will last. Dealers can’t sell what they don’t have and there are so few of these rare birds available that dealers can’t find them either. The discerning used car dealer has a reputation to protect and must have a reasonable amount of confidence in each used car they sell. Oftentimes cheap is just cheap and that doesn’t meet inventory standards.

The New Standard

What should you expect to pay for a reliable, well maintained used car today? For the features that most of us want with 60-80k miles you can expect to pay on average around $19,000-$23,000 for your 4 to 5 year old used vehicle. Yes, there are exceptions both higher and lower depending on the car and condition specifics but buyer beware, if it’s cheap it’s a heap! Have questions? Call or text (757) 560-4252 and ask for Mike Love, I have answers. Happy hunting folks!

 

TM Auto Wholesalers, Chesapeake Va

 

 

 

Sources:

Frio, Dan “Cheapest Used Cars” EDMONDS.COM December 10th, 2019 Web. Retrieved from: https://www.edmunds.com/vehicles/cheapest-new-cars/

Edgerton, Jerry “Cars Now Last Longer Than Ever.. Will Yours” CBSNews.com August 7, 2015 Web. Retrieved from: https://www.cbsnews.com/news/cars-now-last-longer-than-ever-will-yours/

Mattone, James “Used Car Prices at Highest Levels in Three Years” media.thinknum.com August, 2019 Web. Retrieved from: Mahttps://media.thinknum.com/articles/used-car-prices-are-at-highest-levels/

Memoirs of a Clean Car

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WHAT WOULD YOUR CAR SAY ABOUT YOU IN IT’S MEMOIRS?

You love your shiny new car with all it’s cool features and it’s exactly what you want… for now.  Hey, don’t shoot the messenger, that’s just the life of a car. One day your eyes will start to wander and BAM, you’re shopping for another, newer, shinier, one with cooler features. That for sale sign hits the windshield and well, you know the rest. 

So what would your car say about you to its new owner? “The years have been kind to me, haven’t they!” or “I’ve definitely seen better days” Guess what, it tells others all about you every day with its appearance! Your car’s condition is a reflection of you whether you like it or not. The dude in the beater with the bald tires… sketchy. Hey, the dude could be a prince but THAT CAR, the car didn’t give him a chance. Love your car and it will love you back! It’s all up to you which way this goes. If you’re hoping for a good return on your investment, best keep that car looking young!

That’s right, there are some sweet benefits to keeping your car young. Besides resale, though it’s certainly at the top, did you know that a clean car can make you happier? You might, but did you also know that a dirty car can get less gas mileage? Maybe not and there’s more, read on! 

 

  1. LONGER VEHICLE LIFE

By waxing your car, you are keeping the paint job in good shape. The natural deposits of dirt and salt that you gather from driving will corrode the body of your vehicle over time. The benefits of cleanliness extend to the engine, where a regular wipe down can prevent damage from buildup of debris. Check out how to wash and polish your car for tips on how to do it right.

 

  1. BETTER MENTAL HEALTH

You spend a lot of hours inside your car. If that environment is clean, you can feel more focused and organized. Most people are happier if they keep neat living areas in their houses; the same is true for that vehicle where you may meditate or contemplate your days to and from work.

 

  1. SAFER DRIVING

Visibility is a key to accident prevention. What detracts from your visibility? Dirty windows and rear-view mirrors. If you keep them clean, you can better evaluate what’s going on around you. Plus, clean headlights lead to maximum illumination, a must for driving at night or in inclement weather.

 

  1. BETTER PHYSICAL HEALTH

Think of the dirt that’s probably built up inside your car. Even if you are a tidy person, there’s probably bacteria on the hard surfaces. That’s not to mention dust and residue on the seats and flooring. It can lead to poor air quality, aggravating people with allergies or breathing problems.

 

  1. IMPROVED FUEL ECONOMY

A layer of dirt actually makes your engine work harder. That’s because it increases drag on the vehicle. Your fuel economy goes down, therefore, if you don’t regularly wash the exterior of your vehicle. Reduced fuel economy means that a dirty car is money out of your pocket.

 

  1. PERSONAL PRIDE

Your car may or may not be a status symbol, but it is an accessory with which you are regularly associated. You want your car to reflect the same pride you feel with your personal appearance. After all, you probably spent quite a bit of time thinking about the make, model and color of the vehicle before you bought it — why not keep it looking its best?

 

  1. SPARKING JOY

You may have heard this phrase as connected with organizer Marie Kondo. You can certainly use the KonMari method to declutter your car, but instead of joy, look at it as utility. Ask yourself, of all the things you keep in your vehicle, “is this necessary?” Removing some of the extra weight will not only improve your sense of well being, but reduce the number of pounds your car’s engine has to work to drag around.

 

IT WORKS

 

I’ve personally experienced some of the benefits on that list by keeping my cars clean, and that’s no easy task with a large family like mine! Each of my in-stock vehicles is detailed prior to delivery for one final inspection. Hearing “Wow, the years have been good to this one” is the best 🙂

Keeping Your Car Young part 2 “Advantages of keeping your car mechanically in its prime!” on July 31st

 

Have questions? Call or text Mike Love (757) 560-4252, I have answers! 

TM Auto Wholesalers, Chesapeake Va

 

 

Sources: Staff “Hidden benefits of a clean car” www.goldeagle.com July 14, 2020 Web. Retrieved from:  https://www.goldeagle.com/tips-tools/hidden-benefits-clean-car/

The Great Wide Open!

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Vehicles for camping and beachWhen I say camping, we all get a different visual. Some folks see rocky trails that their 4×4 must carefully navigate to reach a lone peak at the top of a mountain where no human in their right mind would attempt to set up a tent… and they love it! My version is backing up to our camper, plugging in the life support, filling up the truck with diesel, and hitting the open road in search of an exciting man made forest with all the amenities that my family and I could possibly imagine! Any way you see it, camping or just leaving to go anywhere on an adventure is fun! Something about leaving the convenience of our homes and day-to-day routines that makes us all feel alive.

 

Whether you’re experiencing your first trip to “The Great Wide Open” or you’re an old pro with a sticker from every park, beach, and campground in the country, we all can agree on one thing; our vehicle plays a significant role in the quality of our journey. I still remember packing three days of supplies into our two door Toyota and feeling like a legit explorer! The fact is, no matter where you are on the “Stuff” scale, you’re going places come Hell or high water and you’re going to fit it all in. It’s also pretty likely that the longer you take trips the more your choice of vehicles will adapt to how you prefer to travel.

 

 

For example:

Pre-kids = 2 door compact car or pickup / AC optional / Comfort optional.

With-kids = 4 door 4×4 SUV / DVD Players / AC / Power Everything / Comfort Package.

Post-Kids = 40 ft mega RV fully loaded with 3 bedrooms and no room for kids!  

You get the picture 🙂

Bottom line is that wherever and whenever you travel you need a people mover that has enough room for your current collection of toys, supplies, and “stuff” that is reliable, comfortable, equipped for your level of adventure, economical, affordable, and available! 

So what makes the difference when it comes to your ride? It can be as simple as letting in the sun…. A convertible like this 2007 Ford Mustang can turn a day trip to the beach into a favorite summer memory. Even camping, on a small scale of course, is cool when you can see the trees and moon at night! Not to mention it’s really fun to drive.

For transporting an army, consider the cargo space and power of this 2003 Ford Excursion. It’s the final solution for getting the family comfortably to any camping or beach destination.

If something in the middle works better for you then checkout one of my Grand Cherokees like this 2012 Overland 4×4 with sunroof, cooled seats, backup camera, cruise, the works!

Finding the right car for you and your adventures is important! Yes, it matters what you drive…

 

Have a car in mind that you don’t see in the TM Auto Inventory? Call or text (757) 560-4252 and ask for Mike Love, I can find it for you! Pick a destination, load up, and make summer fun!

Oh the places you will go!

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Finally! The sun is out, and the road to Summer vacation is calling your name. It’s time for a brand new adventure. A weekend in the woods, a day at the beach, a cross-country road trip or just a trip to the store can be exciting with the right set of wheels. 

 

The Road is Calling Your Name

 

A weekend drive along the coast with the top down could be an epic experience in a sporty BMW Z-4 convertible or 427 Ford Mustang Convertible or the more adventurous 4dr Jeep Grand Cherokee with climbing power, just depends on your cargo! Your kids and your family dog may squeeze into your current mode of transportation, but if you’re serious about beaching it, you need more.

 

It’s no news that these cars are ideal for summer travel, highlights to seal the deal for die-hard DRIVERS.

 

*Four-wheel-drive jeeps provide total beach access to FUN!

*Going topless, there’s nothing quite like it in a Jeep OR Sports Car

*Only enough room for two in your sports car, this is a good thing!

*Jeep Cherokee offers the advantages of an ultimate adventure mobile with added luxury for long trips 

*Most jeeps have a reasonably low base price so a used Jeep Wrangler or even a Rubicon are feasible options!

*If you’ve never driven a convertible classic like the 1968 Chevrolet Camaro then call me, it’s an experience everyone should have 

*5-6 speed manual transmission puts you in control of every peak and valley

*Sunroof and T-tops are standard options, awesome for sunny days and starry nights

*Bose, Infinity, & Blauplunkt sound systems are the norm, a necessity for cruising

*Most handle athletically for speedy turns, yet have comfortable interiors for long trips

*All the luxury options that you want, AC and power everything are usually standard

 

A weekend jaunt to the woods with all your gear begs for a roomy Ford Explorer or if you need more cargo room AND four doors then this loaded 2012 Ford F-150 will do the job perfectly! A few hours in most cars are doable, but for a family excursion along the coast or to the mountains, your time at the wheel is much more of a consideration. Make it count from driveway to journey’s end.

Road hugging, sporty, and fast or off-road adventurous driving, these vehicles welcome the challenge. Two door coupes and convertibles or four door, four wheel drive SUVs and trucks, fun awaits!

 

Think About Which Car is Right for YOU

You may not always have the need for speed and adventure but when you do… nothing satisfies better than putting some distance between you and home. See TM Auto’s inventory

Wherever the journey takes you, make every mile a memory. Your journey begins and ends with transportation and your ride can make or break the experience. Buy your vehicle with your journey in mind and you’ll never regret it. Sure, we all have a need for our daily driver, a trusty shuttle is essential. However, traveling in these can be great or not so great, depending on where you’re going and who’s tagging along. When selecting your car, it’s smart to look at the bigger picture. Whether you’re planning a perfect family beach day or a weekend camping trip, how you get to the promised land is important. Having the right vehicle for the occasion is vital so the journey is as memorable as the destination itself.

Every family, big and small, has different needs. There are plenty of makes and models to go around and one to fit every lifestyle and budget. Whatever your adventure and whichever vehicle you prefer, let me help you get there!  Please browse my website and See TM Auto’s Inventory. Choose from a wide variety of used vehicles.

If you don’t see what you’re looking for, I can find it for you! I’m always available to answer your questions, feel free to text or call (757) 560-4252 and ask for Mike Love.

Easy Financing

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How to Get It

Buying a used car can be daunting. First, you have to find a car that suits all your needs and is safe, and reliable. Now comes the fun part, paying for your new car. If you’re like most people, you’ll be applying for a car loan. When you get a loan, you borrow money from a lender and pay them back over time, with interest. The amount you actually borrow is the loan principal or financed balance, plus interest. The interest rate, presented as an annual rate, is the percentage you pay back in addition to the loan principal.

How do car loans work?

Most people think that when you get a loan to buy a car the finance company lends you the money and the car is yours. In reality, however, the lender actually owns the car, and they’re just letting you drive it while you’re paying off the loan. You don’t get the title to the car until you make your final loan payment. This is why if you don’t make your payments, the lender can repossess the car and if the car is destroyed or stolen during the term of the loan, you’ll still have to pay back the loan. This is also why lenders require you to carry insurance on the car where they’re named as the lien holder. If you fail to provide proof of insurance to the lender, they will purchase insurance on your vehicle to protect their investment. Letting that happen isn’t ideal, however, as the insurance is pricey and only protects the lender, not you.

Different loans have different loan terms, or how long you have to pay the lender back. For example, if you sign up for a five-year term, you’ll pay the money back, and then own the car free and clear, after 60 months. Loans are paid back in monthly installments, and most financial institutions can set up automatic payments to ensure that an installment is not late or forgotten. Lately longer and longer loan terms have been offered to customers; some lenders even offer eight-year car loans. While such long terms can mean lower monthly payments, they can also create situations in which you owe a lot more than the car is worth. The typical auto loan for a used car is much less, than for a new car — an average of $19,329 for used cars and $30,621 for new ones.

How does your credit score affect interest rates?

No loan is the same; some people pay more interest, and some pay less. The interest rate is based on a number of factors, one of which is your credit score. Sometimes called a FICO score, though FICO is only one credit scoring method used by lenders, your credit score can be anywhere from 300 to 850. Credit scores are determined by credit bureaus based on how much debt you have, how many open accounts you have, how much credit you have been offered, whether or not your bills have been paid on time, and the length of time you’ve been using credit.

Your lender will use information from your application and credit report to determine your debt-to-income ratio, and your credit score predicts how able and likely you are to pay back the loan. If you have a lower score, lenders will assume that you’re at high risk for not paying the loan back will charge you a higher interest rate and may only extend a loan offer with a shorter term. A more substantial down payment might also be required from customers with lower scores. It’s important to know your credit score before you apply for a car loan and do your best to make sure it’s as high as it can be.

You’re entitled to free credit reports from the major credit bureaus, but you may have to pay a little extra to get your actual score. There are a few ways to improve your score if it isn’t as high as you’d prefer, like paying off old bills and paying all bills on time for 6-9 months. If you don’t have any credit card debt, closing unused cards can help raise the score. If you do have card balances, closing cards can actually hurt your credit by raising your percentage of credit utilized. You’ll also want to double check your full credit report to ensure its accuracy. For example, say someone stole your identity and opened a credit card in your name. This could affect your ability to get a car loan, or the terms of any loan offered. You need to report the fraudulent activity right away so any errors can be corrected before you apply for auto financing. Dealing with the credit bureaus takes time, so checking your score before applying for a loan is vital.

If you have a high credit score, 760 or above, you’re considered a prime loan applicant. This means you can be approved for interest rates as low as 2 or 3%. Those with lower scores are considered a riskier investment for lenders, meaning higher interest rates. Individuals in this ‘subprime’ category (a score of 580 or below) can end up paying auto loan rates that are 5 or 10 times higher than what prime consumers receive. Most people who get auto loans have a credit score around 706 and should expect to pay rates close to the 4.21% mean.

What other factors affect your loans and interest rates?

Auto loan interest rates also depend on the type of institution lending money, so choosing the right lender means lower rates. Large banks are the leading lenders for auto loans, but credit unions tend to provide customers with the lowest APRs.

The national average for auto loan interest rates in America last year was 4.21% on 60 month loans. For individual consumers, however, rates vary based on credit score, term length of the loan, age of the car being financed, which institution provided the loan, and other factors relevant to a lender’s risk in offering a loan. On the whole, the annual percentage rate (APR) for auto loans ranges from 3% to 10%.

However, the highest allowed APR varies widely among banks, with top rates ranging from as low as 6% to as high as 25%. Banks who provide higher rate loans will generally accept applicants with worse credit, while others won’t offer loans to applicants with scores below the mid-600s. Most large banks have eligibility requirements for loans, including a mileage and age maximum for cars and a dollar minimum for loans. TM Auto can provide buyers with good credit a financing interest rate as low as 2.3% (conditions/restrictions apply) on cars up to 5 years old, even if they’re out of warranty.

As mentioned previously, credit unions tend to extend loans at lower interest rates than banks. They also have more flexible payment schedules, and require lower loan minimums — or none at all, in some cases. However, credit unions tend to offer loans exclusively to their membership, which is often restricted to certain locations, professions, or social associations.

How credit unions help!

Credit unions are member-owned and operated, controlled via a volunteer board of directors, elected by the membership. The board establishes and assesses policy, sets dividend and loan rates, and may hire a management team to run the credit union. This kind of structure means that members have a safe, convenient place to save and borrow at reasonable rates from an institution whose goal is to help them, not to make a profit of of them.

Anyone who uses credit union services is also a partial owner has the right to vote on important issues, like  the election of member representatives to the board of directors. Most other financial institutions, on the other hand, are owned by stockholders after a profit. Credit unions can charge lower rates for loans — including your car loan — and pay higher dividends on savings because they’re not-for-profit. Profits aren’t paid to stockholders, but rather are returned to members as dividends or improved services.

For example, the NAE Federal Credit Union in Hampton Roads is a cooperative, not-for-profit institution built to promote frugality and provide credit to members. It also provides special low rates for those financing with TM Auto and those also willing to move their account to an NAE bank. NAE Federal Credit Union is community chartered and accepts people living and conducting business within an area covering Hampton Roads, Gloucester, Isle of Wight, James City, Mathews, and York Counties in Virginia and Currituck and Gates Counties in North Carolina.

Members can also look forward to low rate credit cards with no annual fees, membership discounts, low rate loans, federal insurance by the NCUE, and convenient hours in addition to low rates for those financing with TM Auto Wholesalers. Even more benefits of being an NAE Federal Credit Union Member include:

  •         Free Voice Response
  •         Free Online Banking
  •         Free Draft Accounts
  •         Free Debit Transactions and Card
  •         Free Bill Pay
  •         Free Payroll Deduction
  •         Free ATM transactions at our locations

 

Getting financed can be easy if you know where to go! Have questions about getting financed through TM Auto Wholesalers? Call (757) 560-4552 and ask for Mike Love. Feel free to browse TM Auto’s inventory; your car, truck or SUV may be just a phone call away!   

 

Sources:

Heaps, Russ. “5 car loan mistakes that cost you money”. Bankrate. Bankrate, LLC. 8 July 2015. Web. 24 Jan 2018. https://www.bankrate.com/loans/auto-loans/5-car-loan-mistakes-that-cost-you-money/

N.a. “Average Auto Loan Interest Rates: 2017 Facts & Figures”. ValuePenguin. ValuePenguin. N.d. Web. 23 Jan 2018.  https://www.valuepenguin.com/auto-loans/average-auto-loan-interest-rates

N.a. “FAQ”. NAE. NAE. n.d. http://www.naefcu.org/hampton-roads-credit-union/faq/

U.S. News Staff. “How to Finance a Car and Get a Car Loan”. US News & World Report. US News & World Report. 6 Oct 2016. Web. 23 Jan 2018. https://cars.usnews.com/cars-trucks/how-to-finance-a-car

To Grandmother’s House We Go

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Travel In Comfort This Holiday Season

The autumn chill has settled and the leaves are changing, bright pops of reds and oranges along the highways. Holidays are just around the corner, and we can all look forward to spending time in our cars, whether it be a short trip to the grocery store for extra stuffing or a long drive to Grandma’s house. The journey is the destination, as they say, and it’s important to keep comfort in mind during these long hours in the car.

 

Of course, comfort means different things to different people. When you’re looking for a new vehicle, it’s important to keep your specific needs in mind. For example, if you’re headed across state lines with four kids and a dog in tow, your first concern is space and durability. Are you looking for an SUV or a minivan? Would you prefer easy to clean leather seats? Then again, if your family goes all out on decorations, you might consider something with room to store your lights, trees, and figurines, like a pickup truck. But what if you’re looking forward to a romantic holiday of two? Something smaller and sportier might suit your needs. You can keep costs down on your get-away by going for a fuel-efficient option, too.

With your specific needs in consideration, it’s time to narrow down what exactly you’re looking for in a car — and how much you can afford. Start by creating a checklist of features you prioritize in a vehicle and narrow down your options from there.

Some things to consider while creating this list might be:

  • Safety Features 
  • 4WD, All-Wheel Drive, 2WD
  • Wheel Base / Leg Room
  • Luxury / Comfort
  • Towing Capacity
  • Fuel Efficiency
  • Reliability
  • Maintenance Costs
  • Price

 

Once you have your ‘Must Haves’ and a solid budget, it’s time to start looking at cars! Check out TM Auto’s inventory online, and feel free to call 757-560-4252 and ask for Mike Love. I’ll be happy to answer your questions and guide you through your next car purchase.  

The Best Vehicles for Traveling

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The Journey Is the Destination

It’s Summer! The kids are home, the sun is out, and the open road is calling your name. Every day is an opportunity for a brand new adventure. A weekend in the woods, a day at the beach, a cross-country road trip or just a trip to the store, any trip can be exciting with the right set of wheels. 

 

How will YOU get there?

TM Auto best vehicles for taveling

 

A weekend drive along the coast with the windows down could be an epic experience in a sporty Mazda RX-8 or maybe a 4dr Jeep Wrangler with no windows at all, just depends on your cargo! Your kids and your family dog may squeeze into your current mode of transportation, but if you’re serious about beaching it, you need more.

 

It’s no news that the Jeep Wrangler is ideal for summer travel, highlights to seal the deal for die-hard beach lovers.

 

  • 1. Four-wheel-drive provides total beach access
  • 2. Going topless, there’s nothing quite like it
  • 3. Easy to clean floorboards, just pull the floor plugs and hose it out!
  • 4. Removable doors will turn your Jeep into the ultimate adventure mobile
  • 5. 4dr versions have as much cargo space as any full size sedan
  • 6. Did I mention the windshield folds down? Yes, it does
  • 7. The deal clincher is that most jeeps have a reasonably low base price so a used Jeep Wrangler or even a Rubicon are feasible options!

 

A weekend jaunt to the woods with all your gear begs for a roomy Ford Explorer or if you’d rather bring just the essentials, a stylish CR-V! A few hours in most cars are doable, but for a family excursion along the coast or to the mountains, your time at the wheel is the destination. Make it count from driveway to journey’s end.

If low down, sporty, and road hugging are more your speed, then 2dr coupes and convertibles are perfect. Traveling light can be liberating, just you, your favorite travel partner, and loads of curves to navigate!

 

Think about it while you check out these sporty highlights.

 

  • 1. 5-6 speed manual transmission puts you in control of every peak and valley
  • 2. Sunroof and T-tops are standard options, awesome for sunny days and starry nights
  • 3. Bose, Infinity, & Blauplunkt sound systems are the norm, a necessity for cruising
  • 4. Most handle athletically for speedy turns, yet have comfortable interiors for long trips
  • 5. All the luxury options that you want, AC and power everything are usually standard

You may not always have the need for speed but when you do… nothing satisfies better than putting some distance between you and home in your own sports car. See TM Auto’s inventory

Wherever the journey takes you, make every mile a memory. Your journey begins and ends with transportation and your ride can make or break the experience. Buy your vehicle with your journey in mind and you’ll never regret it. Sure, we all have a need for our daily driver, a trusty shuttle is essential. However, traveling in these can be great or not so great, depending on where you’re going and who’s tagging along. When selecting your car, it’s smart to look at the bigger picture. Whether you’re planning a perfect family beach day or a weekend camping trip, how you get to the promised land is important. Having the right vehicle for the occasion is vital so the journey is as memorable as the destination itself.

Every family, big and small, has different needs. There are plenty of makes and models to go around and one to fit every lifestyle and budget. Whatever your adventure and whichever vehicle you prefer, let me help you get there!  Please browse my website and See TM Auto’s Inventory. Choose from a wide variety of used vehicles.

If you don’t see what you’re looking for, I can find it for you! I’m always available to answer your questions, feel free to text or call (757) 560-4252 and ask for Mike Love.