Having a well serviced engine is extremely important as a poorly looked after engine can increase fuel consumption dramatically. By servicing your vehicle accordingly you can help to ensure your engine is running at the optimum level. It is important to look after your cars tyres as well by regularly checking the amount of tread and the air pressure in line with the guidance in your cars handbook. Stick to this to ensure you are not using unnecessary amounts of fuel.

Many people accumulate a lot of unnecessary junk in their car, especially if they have children or travel with work for example. Having regular clearouts, particularly before making long journeys, will make sure you car is not weighed down with clutter and costing you more to run.

When you top up the oil in your vehicle, make sure you use the manufacturers recommended oil as this again will help with fuel efficiency. There are some oils available that are more environmentally friendly than others but make sure they are compatible with your engine before using them. However it is not just what you put in your car that makes the difference; it is how you drive it as well. Driving aggressively is not advisable as you can burn up to a third more fuel than if driving smoothly, in controlled manner.

You are advised to use high gears where possible because driving slower in a higher gear uses less fuel. Rush hour traffic is frustrating and it wastes a considerable amount of fuel, so if you are unfortunate enough to be stuck in the rush hour traffic for a prolonged period of time, consider turning off your engine.

If you are struggling to afford a new car with the increase in driving costs then look to car finance as a means of buying your car and spreading the payments. Deals on car loans can help you afford that car you have been looking for.

Leases are also know the payment of the depreciation which means the monthly payment usually matches the depreciation on the asset. Let’s look at a real example; this calculation is taken on December 24, 2009 from www.Honda.ca.

A 2010 Civic DX-G automatic transmission’s M.S.R.P is $19,780 with FRI/PDI at $1,395, there are additional costs such as air condition tax of $100, making it to be $21,275 before G.S.T and P.S.T. On the road the price will be $24,040

Now, the above example will be a “cash purchase” scenario, without any manufacture’s incentive or dealer discounts, same scenario taken to a lease will cost you the consumer $285 per month before taxes, or $322 per month total. That is with 0 down payment for 48 month and lease rate of 3.9%. So how much would you have spent in 48 month? $322 x 48 = $15,456. The buy back value or “residual” value is $9,890 before taxes, or $11,175 after taxes. Adding together all the cost involved in this type of transaction, your total amount spent on the vehicle would be $26,631. Which is $2,591 higher than cash purchase option. That $2,591 would be the cost of your lease, assuming you have bought out the vehicle at the end of your lease. Not to mention if you didn’t purchase this vehicle it would cost even less.

Financing in this case would be $529 per month also for 48 month term with 0 down payment. $529 x 48 = $25,392 in total which makes it $1,352 higher than cash purchase option. The $1,395 would be your cost of finance over 48 month terms. However the things to consider would be the monthly payment of finance is 63% higher compare to the lease payment. And interesting enough if you take the different of the two payments 529 – 322 = 207 and multiply the difference over 48 months you get $9936. Hey that is awfully similar to your buy out amount right?

So in conclusion if you had the choice to “own” a vehicle via financing, but be careful with the word “own” not until you paid off the entire loan than you truly own the vehicle. But paying close to double the amount in monthly payments. Or you can “lease” a vehicle for a lot less, and a chance for you to return it at the end of your lease without hassle. You can pick the best option for yourself based on your current situation.

This article is brought to you by Ontario Credit Solutions, we specialize in the area of used vehicle financing, and used car sales in Whitby, Durham and Oshawa area for more information please visit us online at http://www.ontariocreditsolutions.com

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Ontario Credit Solutions

Bad credit history usually means a longer wait period for many, this is important step for the banks or lenders to asses your risk factors. When your loan application is processed through the dealer, it is submitted automatically to all the sub-prime lenders at once. Perhaps some of them decided to turn your down, but others have not yet made up their mind. Don’t panic, let the application take its normal course and you soon should hear some encouraging news.

It is important for you not to seek credit during this time, nothing can be more damaging than you trying to submit another application through another dealer within a short period of time. There are things that may help your application, such as added insurances for your loan. By adding “loss of income” insurance, or “disability” insurance, it will protect the bank’s investment or loan. Therefore your application may look more favorable in the lender’s eyes. These add on insurances can cost on average 600-1500 in Canada, but it does offer protection in case you got laid off, or become disabled to pay back your loan. They are not always necessary especially you can proof to the bank your work stability, or have very good credit score. But in the case of bad credit car loan, it can help your application to obtain approval.

Thank for reading this article, it is brought to you by New Oshawa Motors, for more information please visit us online at http://www.newoshawamotors.com or http://ezinearticles.com/?Bad-Credit-Car-Loans-Tips&id=3433177