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Lease it to Us: Ways of Getting out of a Car Lease Early

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Posted in How To Guide

Leasing a car can give you flexibility and lower monthly payments, but if life circumstances require you to end your lease early, it can be tough and pricey. This guide outlines the various leasing options available, detailing their pros and cons to assist you in making a well-informed decision.

Understanding A Car Lease

Before discussing end strategies, it’s important to know what a car lease involves. Leasing is like renting a car for a set time, usually two to five years. You cover the vehicle’s depreciation during the lease, plus interest and fees. Leasing often costs less upfront and monthly than buying, but you don’t gain ownership of the car.

4 Ways to End a Car Lease Early

  1. Return the Car and End the Lease

Returning the car to the leasing company and paying all related fees is a straightforward option. It ends the lease obligations quickly but can be very costly due to fees and remaining payments. It might also affect your credit score if payments are missed.

  1. Trade the Car for a New Lease

Certain dealerships allow you to swap your leased vehicle for a new lease. This option lets you enjoy a new car while potentially lowering fees. However, be aware that early termination fees may still apply, and you’ll need to sign a new lease agreement.

  1. Transfer the Lease

Transferring your lease to another person means they take over the remaining payments. This can be cheaper if the leasing company allows it, avoiding termination fees. However, not all leases allow transfers, and you might be responsible if the new lessee defaults.

  1. Sell the Car

You can buy out your lease and sell the car to someone else, possibly recovering some costs. If the car’s market value is higher than its residual value, you might make a profit. However, you must buy out the lease first, and selling may not cover all costs depending on market conditions.

The Cost of Early Lease Termination and Alternatives

Ending a lease early can be pricey, as you might pay the difference between the lease balance and the car’s value, plus any fees in your contract. Check your lease agreement for details. If these options don’t work, try negotiating with your leasing company. They might offer other solutions or payment plans, and short-term lease extensions could provide temporary relief.

Making the Right Choice

Before choosing how to end your lease, assess your financial situation, the lease terms, and each option’s impact. Some strategies may have higher upfront costs but save money and stress over time. By understanding these methods, you’re better prepared to choose a strategy that fits your needs.

Are you ready to set up your lease transfer or sale today to reduce future financial burdens? Visit Charge-A-Car for help making the right choice when it comes to ending your lease. Our financing department will be delighted to help you exit your current lease and get into a vehicle you’ll love. Our team looks forward to seeing you soon!

Coin rolls and a red car, isolated on white background implying financial car sale or investing to sell your car

How to Sell Your Car Instead of Trading It In

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Posted in Charge-A-Car Tips

When it’s time to sell vehicle, trading it in at a dealership isn’t the only option. Whether upgrading or reducing expenses, selling your car privately can often get you a better price. Here’s a guide to help you through the process and maximize your sale.

Steps for a Successful Private Sale

Selling your car privately involves a few important steps to make sure everything goes well and you get a good deal.

Step 1: Determine Your Car’s Market Value

Before listing your car for sale, it’s crucial to know its market value. You can use resources like Kelley Blue Book (KBB), Edmunds, or NADA Guides to get an accurate estimate to make sure you sell within fair market prices. These tools will ask for information such as the car’s make, model, year, mileage, and condition.

Step 2: Gather Necessary Documents

Having all your paperwork in order will streamline the selling process and make you appear more credible to potential buyers. Collect maintenance records, the car title, and consider purchasing a vehicle history report from services like Carfax.

Step 3: Clean and Inspect Your Car

A clean car makes a great first impression. Thoroughly wash and vacuum the interior and exterior. Consider getting a professional detailing service. Additionally, it’s a good idea to have a mechanic inspect the car and address any minor issues to avoid giving buyers reasons to negotiate a lower price.

Step 4: Take High-Quality Photos

Photos are often the first thing potential buyers will see. Take multiple high-resolution photos of your car from different angles, including the interior, exterior, and any notable features or flaws. Good lighting is key—natural daylight works best.

Step 5: Create a Detailed Listing

Your listing should be comprehensive and honest. Include all relevant details such as make, model, year, mileage, condition, and any recent repairs or upgrades. Don’t forget to mention why you’re selling the car.

Step 6: Screen Potential Buyers

Once your listing is live, you’ll start receiving inquiries. Screen buyers to weed out “tire kickers” and scammers. Serious buyers will typically ask detailed questions and be willing to meet in person.

Step 7: Arrange Test Drives and Inspections

Allow serious buyers to test drive the car, but always meet in public places for safety. It’s also reasonable to request a copy of the buyer’s driver’s license and proof of insurance before they take the wheel. Some buyers may want a mechanic to inspect the car, which is a good sign they’re serious.

Step 8: Complete the Sale

When you’ve found a buyer, meet at a secure location such as a bank to finalize your sale. Cash is ideal for transactions under $10,000. For larger amounts, a bank transfer or certified check is safer. Always verify checks before handing over the keys when you sell.

Step 9: Handle Paperwork

Provide the buyer with a bill of sale and sign over the car title. Notify the Department of Motor Vehicles (DMV) of the sale and follow any local requirements for transferring ownership.

Selling Through Dealers

If the private sale route seems daunting, online car-buying platforms offer a convenient alternative. You can get an instant offer by providing your vehicle’s details, and these companies often handle all the paperwork and arrange pickup. Pros include the convenience of completing the process from home, quick payment—often within days, and not having to deal with buyers or advertising. However, a con is typically lower offers than a private sale, as these companies need to resell your car for a profit.

Another option is selling through brick-and-mortar dealerships and used car dealers. These traditional avenues offer a straightforward process where you can often trade in your vehicle when purchasing a new one. Dealerships handle all the necessary paperwork, providing you with a seamless experience. While this method can offer competitive trade-in values, especially if you’re buying another vehicle from them, the overall offer might still be less than a private sale. However, the convenience and reliability of working with established dealers make this a popular choice for many sellers.

Choose Convenience When Selling, Choose Charge-A-Car

Selling your car privately can be the most profitable option but it requires time and effort. Alternatively, store dealers and online dealers offer convenience at a lower price. Whichever route you choose, being prepared and informed will help you get the best deal for your vehicle.

Ready to take the next step? Visit Charge-A-Car and let us help you sell your car without the need to trade it! Our car sales experts can help you with financing and getting the best offer you deserve.

Car keys and money on table with man using calculator. Buyer counting savings and gas cost or salesman calculating sales price, vehicle value or road taxes.

How to Sell Your Car with a Loan Payoff You Still Owe

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Posted in How To Guide

Selling a car that still has a payoff can feel tricky, but it’s possible with some know-how. Whether you want to upgrade, lower your bills, or just want a change, this guide will help you understand how to sell your car smoothly while you still owe money.

Understanding the Basics of Selling with a Payoff

When you have a car loan, the lender owns part of your car until you pay it off. This means you need to settle or transfer the loan before the new owner can take the car. While this adds some steps, it shouldn’t stop you from selling.

What to Consider Before Selling

Before you sell, think about:

  • Loan Balance vs. Car Value: Check how much you owe on the loan compared to what your car is worth.
  • Financial Goals: Make sure selling fits your financial plans, especially if you owe more than the car is worth.
  • Lender’s Policies: Ask your lender what their rules are for selling the car, including any fees.

How to Sell a Car with a Loan Payoff

Step 1: Find Out Your Car’s Value

First, check how much your car is worth using trusted sites like Kelley Blue Book or Edmunds. This will help you set a fair price and see if you have positive or negative equity. Selling your car privately usually gets you a better price than trading it in at a dealership, so compare both options.

Step 2: Get the Loan Payoff Amount

Contact your lender to find out how much you owe. This is called the payoff amount and might be different from your remaining loan balance due to interest. Ask if there are any penalties for paying off the loan early.

Step 3: Know Your Car’s Equity

To figure out your car’s equity, there are two things to know: Positive Equity and Negative Equity. Positive Equity means your car is worth more than what you owe, so you’ll get money from the sale after paying off the loan. Negative Equity means you owe more than the car is worth, so you’ll need to pay the difference.

Step 4: Talk to Your Lender

Before you sell, talk to your lender. They may have specific instructions or deals with car dealers to help with the sale. They also hold the car title, so you’ll need their help to transfer it to the new owner.

What to Do If You Have Negative Equity

If you owe more than your car is worth, you have a few options. Refinancing your loan could lower your monthly payments and help you build equity faster. A personal loan might help cover the gap if you decide to sell but be careful of high interest rates. Lastly, you could use savings to pay the difference and avoid more debt.

Make Selling Your Car Easy

Selling a car with an outstanding loan involves some extra steps, but with planning and research, it’s manageable. At Charge-A-Car we can help you navigate through the finances of the car selling process today. Whether you have an outstanding payoff, need to sell your car, or want to trade up, visit us today, and let’s explore your options to ensure you get the best deal!

Ready to sell your car? Explore your options and start planning today!

Bad credit in the auto sector.

How To Buy a Car with Bad Credit

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Posted in Charge-A-Car Tips

There may be no universal minimum credit score needed to finance a car, but there can certainly be challenges. How can you leverage your credit to get a good loan and get on the road quickly? Here are a few tips on how to buy a car with bad credit.

Evaluating Your Finances

Before buying any car, you must evaluate your finances to know how much you can afford to put into a loan. Credit score and a down payment are some of the most important features to consider when applying for auto financing, and while your credit may be bad it’s not impossible to buy a car. First, save for a down payment. A down payment will help offshoot the high interest rate of your loan due to a low credit score. The higher the down payment, the better!

Then, compare loan offers. Shopping around is crucial for the best rate possible as different lending institutions tend to have different rates. Remember that you can also finance a vehicle through your dealership or car center!

Improving Your Credit

While your initial interest rates may be less-than-favorable, it is possible to use your auto loan as a way to improve your credit. While it’s best to pay off credit cards and lessen your debt before a purchase, timely payments on your auto loan could raise your credit score enough to refinance with a better rate at a better point in the economy. Remember that improving your credit by as little as 50 points can make a massive difference in your rates.

Get a Co-Signer

From the lender’s perspective, having a co-signer can mitigate the risk associated with lending to someone with poor credit. The co-signer serves as a backup for the lender if the primary borrower is unable to meet their monthly obligations. However, the challenge lies in locating a co-signer with a stronger credit profile who is willing to assume this responsibility.

Ultimately, having a co-signer can enhance negotiation leverage and potentially lead to a lower interest rate. Nevertheless, if the loan defaults, the co-signer’s credit score could be adversely affected, despite not having ownership of the financed asset. Avoiding strained relationships due to financial matters is crucial, underscoring the importance of diligent and timely repayment when a co-signer is involved.

Don’t Let Bad Credit Stop You! Let Us Help You Get on The Road Today

A vehicle is a necessity in today’s world. Without a car, it can be difficult to commute to work, buy groceries, or fulfill your other daily necessities. Let us help you get back on the road with a new-to-you-used vehicle! At Charge-A-Car we’re determined to help you find the vehicle that best suits your needs, independent of your credit history. Whether you have no credit or bad credit, our financing department is ready to assist you in any way possible. Click, call, or visit our lot today for incredible offers on all makes and models!

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Navigating Negative Equity Your Car and Your Finances

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Posted in How To Guide

Dealing with a negative equity vehicle can be a stressful experience, especially if you’re looking to trade in or sell your car. But don’t worry—you’re not alone, and there are steps you can take to manage this situation effectively.

What is Negative Equity?

Negative equity, often called an ‘upside-down’ loan, occurs when you owe more on your car loan than the vehicle is worth. This situation can happen for several reasons:

  • Depreciation over time
  • Accidents or repairs that reduce the vehicle’s value
  • High-interest rates or long-term loans

When you have negative equity, selling or trading in your car can become more complicated.

How Negative Equity Happens

It can be surprisingly easy to end up in a bad situation ‘upside-down’ car loan. No-money-down purchases mean your loan not only involves the vehicle, but also the taxes, licensing, registration, and fees, making your financed amount larger than your car’s value. Long-term loans and rapid car depreciation due to usage and accidents are common culprits that lead to being in a tight, negative equity situation.

Options for Dealing with Negative Equity

1. Pay the Difference Upfront

One straightforward solution is to pay the difference between your car’s value and your loan balance out of pocket. This approach allows you to start fresh with a new car loan or lease without carrying forward any debt.

2. Refinance Your Loan

You may be able to refinance your current loan to a lower interest rate or shorter term, reducing your monthly payments. However, this option typically requires good credit and may not be available to everyone.

3. Keep the Car and Pay Down the Loan

If trading in or selling the car isn’t urgent, consider keeping your vehicle and making extra payments to reduce the loan balance faster. This method can help you reach positive equity more quickly without the need to take on additional debt.

4. Sell the Car Privately

Selling your car privately could fetch a higher price compared to a trade-in. While this might not get rid of your negative equity entirely, it could reduce the amount you owe significantly.

Get Help with Your Negative Equity Today!

Negative equity on your car loan doesn’t have to be a financial nightmare. By understanding your options and taking strategic steps, you can effectively manage this situation and move towards a more secure financial future.

Ready to take control of your finances? Schedule a consultation with our financing department today and let us help you get out of a bad situation and into a car you love! Visit Charge-A-Car in Aurora to regain your freedom financially and on the road!

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A Newcomer’s Guide to Buying a Car

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Posted in Charge-A-Car Tips

Buying a car can feel overwhelming for beginners, but fear not! Follow our simple guidelines to breeze through your first car-buying experience.

Research, Research, Research

Before diving into the car-buying process, arm yourself with knowledge. What type of car suits your needs? Which brand appeals to you? What are the insurance costs? Set your budget and explore financing options. Research is key.

Begin by identifying your car requirements. Consider features, seating capacity, towing needs, or cargo space. Explore fuel options beyond gasoline; diesel and hybrid cars offer alternatives with varying mileage benefits. Electric vehicles, though evolving, promise savings on fuel costs. Factor in not just the down payment but also financing and insurance expenses. Be aware that interest rates and insurance premiums can significantly impact your monthly expenses. Have your finances in order before coming to the dealership to finance and buy– it will help once you’re ready to make a purchase. Many dealerships even offer loans and credit checks in-house for your convenience! Charge-A-Car is no exception, with great financing options right on our website. 

Navigating the Dealership Experience

Different dealerships have different stocks of cars; a GMC Yukon XL drives much differently than a 2011 Honda Accord. It’s always a good idea to test drive any make and model you’re considering buying. Different cars handle differently and it’s important to get a good feel for a new vehicle before signing into a years-long commitment.

Once you’ve decided that you like a car, it’s time to negotiate. Negotiating can seem intimidating, but it’s always important to get the best deal possible. Come prepared with any paperwork needed, a firm understanding of your credit history, and the right questions to ask.

Seek Assistance When Buying A Car

Feeling uncertain or overwhelmed? Don’t hesitate to seek guidance. Forge a relationship with your local dealer. At Charge-A-Car, we’re committed to helping you find the perfect vehicle. Our goal is your satisfaction and ensuring your car meets your needs. Drop by today, and let us assist you in finding a car you’ll adore.

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Can You Use Your New Car To Build Credit?

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Posted in Blog

Credit can be a major roadblock to new car buyers. Growing your credit can be a challenge for some, but can you use a car loan to build credit?

What Influences Your Credit

In the same way that there are different ways to build your credit score, a few factors influence the fluctuation of credit over time. FICO – the data analytics company that developed credit calculation from credit reporting agencies – lists payment history, amounts owed, length of credit history, new credit, and types of credit as some of the key influencers of your credit score.

Some ways you can influence your credit include your ability to make payments on time, the amount of money owed, how long you’ve held the loan or credit line, how frequently you open new credit accounts, and the mix in types of credit (credit card, installments, retail accounts, mortgage, auto loans).

How A Car Loan Can Affect Your Score

A long-term loan like an auto loan can prove to credit institutions that you’re a ‘responsible borrower’ which is one of the significant premises behind the credit system. When applying for any loan, it’s important to get the best rate possible. While your initial rate may not be stellar, there is always the option to refinance your loan in the future once your credit has improved. Refinancing is the process of getting a new loan to pay off your existing loan. And, while new loans can cause your credit to briefly lower, a refinanced loan can significantly improve your interest rate. When deciding to refinance, wait until you’ve seen significant growth to your credit and during a period of low interest rates for maximum effectiveness.

No Credit? Smaller Ways To Build Credit Before An Auto Loan

An auto loan can be a big step, but there are smaller, easier ways to build your score until you’re ready to use an auto loan to build credit. One of the easiest and most common ways to build credit is by paying down existing debt balances and using credit cards. If you’re new to credit, building a credit history with credit cards for small purchases and paying off your full bill each statement will get you well on your way! If you already have credit lines, paying off your existing debt down to 30% utilization is another great way.

Get On The Road Today While You Build Credit

Financing a car is a big deal. At Charge-A-Car, our financing options can get you back on the road while building your credit. A car is a necessity, and you can’t afford not to be on the move! While an auto loan isn’t a magic bullet for improving your credit, it’s one of several options you can use to work towards a higher score. Let our team help you achieve your dreams of car ownership and great credit!

Five Ways to Lower Your Monthly Car Payments

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Posted in Charge-A-Car Tips

Change is a vital part of life, but it’s also something that’s largely out of our control. When you initially finance your vehicle, you’re looking for the best way to accommodate your current lifestyle. But jobs, relationships, and the economy all change over time, and you might be stuck making monthly payments that are no longer in your best interest. 

Fortunately, Charge-A-Car is here with steps you can take to lower your monthly car payments. Many of these suggestions involve tips to finance your vehicle before purchase. All are designed to save you the maximum amount for the remainder of your loan term.

Refinance Your Car 

Refinancing is one of the most practical and common methods of securing a lower monthly payment. We touched on life changes that can adversely affect you – but there can of course come positive change as well! For example, if your credit score has increased since you took out the original loan, you should be able to qualify for lower interest rates. If you’re attempting to refinance and multiple lenders have calculated your rate as the same (or worse) as your original rate, it might be time to look into elongating your loan term. Speaking of… 

Extend Your Loan Term 

By negotiating for a longer loan term, you’ll pay less each month: a 72-month loan involves smaller payments than a 60-month term, 60 months is cheaper per month than a 48-month term, and so on. This makes longer loan terms ideal if you’re living paycheck-to-paycheck. You will ultimately wind up paying more over the duration of your longer loan term due to compounding interest rates – but if your immediate focus is on surviving month-to-month, a longer loan term might give you the breathing room you need above all else right now. 

Put More Money Down 

If you have the means to do so, don’t be afraid to add a little extra to your initial down payment. Chances are you’ll thank yourself for it within a few months. The more money you put down up front, the less you’ll have to finance, and the lower your monthly payments will be. This, in turn, leads to less total interest. It may hurt in the short term to put down $2,000 on a $10,000 loan – but when you factor in the accumulated interest you’ll ultimately be avoiding, all you’re doing is saving your future self a lot of money. 

Find the Lowest APR

One surefire way to lower your interest rate? Shop for a low interest rate at the outset. Auto loan APRs vary based on your credit history, but they can also depend on what lender you’re working with. Before purchase, do your research to make sure you’re getting a reasonable APR figure. According to Experian’s State of the Automotive Finance Market Report for the third quarter of 2023, the average interest rate for a used vehicle is 11.35% (up from 9.38% a year ago). Follow market trends and carefully consider whether you want to invest more than the average rate. 

Sell or Trade Your Car 

Want to pay the lowest amount possible each month? How does zero dollars sound? Well, it’s simple – all you need to do is sell your vehicle! Selling your vehicle is the one foolproof way to get rid of monthly car payments altogether. As long as the car’s value covers the rest of the loan, you’ll start anew with a fresh slate – and this time, you’ll be able to enter the car buying process with our pre–financing tips in mind. 

If you’re looking to trade in your vehicle, Charge-A-Car is the place to go. We’ll draw you up a fast, free estimate of what we’d pay for it. And while you’re here, browse our inventory for your next vehicle, which we’ll help you finance on the spot! Give in to change and discover what a more financially secure future looks like here at Aurora’s used car headquarters.

The Top 10 Compact SUVs You Can Find Under $20K

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Posted in Listicles

We know the drill: prices are up around the country (and at the pump), and the automobile industry hasn’t been exempted. But as we detailed in our post of the best SUVs for under $20K, great deals can be found if you know where to look. 

If you’re looking to go slightly smaller with your SUV search, a compact SUV may be just the thing you need. Here at Charge-A-Car, we tracked down 10 recent-model compact SUVs that you should be able to find without breaking the bank. 

2018 Mazda CX-5 

If you’re looking for a dynamic compact SUV, you might not find a better option than the 2018 Mazda CX-5. Powered by its 2.5-liter, naturally aspirated motor, the CX-5 features awesome steering and handling. Its luxurious interior and top safety scores are just the cherries on top. If you value performance above all else, look no further than the Mazda CX-5. 

2018 Hyundai Tuscon 

The five-passenger 2018 Hyundai Tuscon will have you feeling at home within your vehicle with its spacious, quiet cabin. Featuring some of the highest safety and predicted reliability ratings around, it might lull you into thinking it’s your standard, family-friendly compact SUV. That’s until you dig in and discover its thrilling turbocharged engine option.  

2017 Honda CR-V 

One of the most iconic nameplates on this list, the Honda CR-V is a perennial best-seller for its class. But while the newest CR-V may threaten to break the bank, a comparable model can now be yours for just an average of $20K. Featuring a spacious cargo area, ample rear seat legroom, excellent fuel economy, and top safety scores, the CR-V’s weaknesses are miniscule. 

2018 Toyota RAV4

Perhaps the most recognizable compact SUV in the segment other than the CR-V, offers many of the same strengths as Honda’s compact: a roomy interior, efficient powertrain (which includes an available hybrid option) and a sold lineup of equipment and features. It’s also remarkably comfortable in motion, with many citing the smooth ride it gives you every outing. 

2018 Subaru Forester 

The Forester enjoyed an impressive sales tick for Subaru in 2023, with a spike of 34 percent. It’s easy to see why its popularity is exploding; with ample storage space and off-road finesse, the Forester has become one of the most versatile compact SUVs on the market. Get in on the ground floor with the 2018 model and see what all the fuss is about. 

2019 Kia Sportage 

Another vehicle that has by now become synonymous with reliability, the Sportage is a thoroughly balanced vehicle. Its spacious, upscale interior, user-friendly infotainment system, and easy handling make this a perfect entry-level SUV (provided you can overlook the slight downtick in cargo space and gas mileage, compared to some competitors). 

2019 Chevy Equinox 

The Equinox regularly boasts outstanding predicted reliability ratings, putting it near the top of its class year after year. The interior, while not quite as well-stocked as some comparable cabins, still offers plenty of room and comfort. But when you throw in its powerful turbo-four engine and class-leading fuel economy with diesel powertrain, the Equinox is constantly full of surprises. 

2018 Nissan Rogue 

If top-tier gas mileage is at the top of your shopping list, the Nissan Rogue has you covered. It’s not the most powerful compact you’ll find, but it may just be the one that keeps you on the road longest. Plus, amongst all compacts, it boasts one of the lowest total cost-of-ownership costs. Throw in an upscale and spacious interior and tons of advanced safety features, and the Rogue might be the total package you’re looking for. 

2018 Volkswagen Tiguan 

Like the Nissan Rogue, the Tiguan won’t blow you away from a performance standpoint with its modest single engine. What VW’s compact does offer are many user-friendly features and tons of cargo space, with an especially roomy second row. The Tiguan also scored high marks on its crash-test and predicted reliability ratings. 

2018 GMC Terrain 

The GMC Terrain is well-equipped, comfortable, and about all else you can ask for from an interior perspective. You’ll find underfloor storage and forward-folding front passenger seats, creating all the cargo room you could ask for. (The stylish exterior is no slouch itself.) To hit the sub-$20K point we’re aiming for, you’ll probably want to scope out the mid-range Terrain SLE. 

Discover the Deal of a Lifetime Today

Though these affordable options are the best in the market, it can still be difficult pinpointing the best match for your lifestyle. Fortunately, at Charge-A-Car, you’ll be provided with all the assistance you need to find the vehicle for you.

We make finding your dream car as simple as can be at Charge-A-Car, from our expansive inventory to our on-the-spot financing. Schedule your test drive at Charge-A-Car today and drive off into a more financially secure tomorrow. 

A Guide to Organizing Your Car’s Paperwork

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Posted in How To Guide

As winter retreats here in Aurora, we look ahead to the spring and one of its inaugural activities: spring cleaning. Much more than dusting windowsills and scrubbing sinks, spring cleaning is an opportunity to take inventory of your life, a conscious un-cluttering of both your personal space and your mind as you prepare for the year ahead. 

Part of this process includes properly organizing your paperwork. As with anything else in modern life, car ownership involves a great deal of documentation. It can be overwhelming to keep everything straight – but simplifying your auto needs is what we do here at Charge-A-Car, where you can purchase and finance your next car in the same afternoon! 

What You Should Have 

License & Registration: If you’ve ever seen someone pulled over in a movie, chances are you know to always have your license and registration handy while driving. Make sure your registration is up to date; if the expiration date is near, take the necessary steps to renew it. It should then be signed and stored somewhere in your vehicle, such as the glove compartment or beneath the central console. As for your driver’s license, hopefully it’s already safely stored away in your purse or wallet – otherwise, your spring cleaning to-do list just got longer. 

Proof of Insurance: Owning vehicle insurance is a requirement for every licensed driver. It’s another item you’ll want to keep in your car in the event that you’re pulled over. You should also have it on hand in case of an accident, so that you can exchange insurance information with the other driver. At the very least, keep a photo of your insurance card available on your phone.

Vehicle Title: Unlike your registration and insurance cards, the title to your car needs more protection than your glove compartment can offer. This piece of paper is the only proof of ownership of your vehicle that you have, making it immensely valuable. Keep your title stored away in a secure place you’ll remember, such as a home safe. 

Service & Maintenance Records: Though documenting your vehicle’s history of service and maintenance isn’t a requirement, it’s still a good idea. It will keep track of what services were performed when, so that you’ll know the next time you’re due for, say, an oil change. More importantly, keeping detailed records of your car’s history will serve you well when it comes time to sell. 

Keeping Your Paperwork Organized 

While your registration and insurance should be kept inside the vehicle, we recommend keeping all other paperwork together. A safe space in your home is preferable, as it allows you regular access. This includes the title and service records, but also any other relevant paperwork, such as warranty and emissions test documentation. If necessary, divide and categorize accordingly, i.e. keep your insurance payments bundled together. Make sure you have the proper storage space to accommodate everything. 

In today’s digital world, it’s important to back everything up. Make physical copies of your paperwork if that’s your preference, but also consider uploading your files to cloud storage. By digitizing, you’re ensuring your files will remain available to the world – even when you’re having difficulty tracking down their physical counterparts. 

One Last Step 

Once you’ve collected and organized all relevant paperwork, your future suddenly becomes much more open. For starters, you now have everything you need to trade in your ride today! Any vehicle in our extensive inventory could be yours when you schedule your test drive at Charge-A-Car, Aurora’s number one spot for used car shopping.