Frequently Asked Questions Ansered

faq

We here at HGreg.com understand that our customers have questions and we are always happy to clarify things. We decided to compile a list of the most commonly asked questions, and answer them.

1.      What will my down payment be? Am I able to take the car home today and make payments on the down payment?

Unfortunately, here at HGreg.com, we do not have a system set up for customers to make payments on their down payments. The average down payment is about $1000, but nearly every customer’s down payment is different. However, our finance officers are willing to work with you and your specific needs.

Chances are, if you have your down payment, are approved by financing and have everything listed in answer #3, there’s a great chance you’ll be driving home today!

2.      Am I approved?

We work with everyone, even those with unique financial situations. The terms of our auto loan are tailored specifically to your unique financial situation. We have various finance programs that will be sure to meet your specific needs.

3.      What do I need to bring with me to get into a vehicle?

To get into a vehicle you need to bring your:

  • Driver’s license
  • Proof of income (which is determined through a pay stub)
  • Proof of insurance
  • Proof of residence (which is usually a utility bill)

For a more information on what to bring, learn How You Can Prepare For Fast Approval.

4.      How long does the process take? Can I drive it home today? Do I need to come in to finish the application?

The overall process time varies between each customer. Most customers are in and out within a couple of hours. However, the amount of time depends entirely on the customer.

To make your process quick, you can apply for financing online before stepping foot inside the dealership. It would also be beneficial to have the vehicle you want in mind and don’t forget to bring the items in answer #3.

5.      What if I see a car I want online but do not live in Florida.

If you find a car on our website that you are interested it, that’s fine. We can go through the entire process with you over the phone and then ship the car to you.

6.       Are your prices higher compared to other used car dealers?

No. We offer a lifetime engine warranty, a three day money back guaranty, 24-hour roadside assistance, and a 30-day warranty on qualified vehicles – and our prices are still lower than our competitors.

 

7.       Are you really able to help me if I have no credit?

Absolutely, at HGreg.com we believe that everyone deserves the chance to drive a great, used car. Don’t believe me? Take two minutes and see for yourself with our online approval.

Still have questions about buying a used car from HGreg.com? Not a problem. Contact us!

How You Can Prepare For a Fast Approval

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Most people finance their vehicle purchases because few can purchase their vehicles cash. However, many people don’t know a great deal about the finance process. We here at HGreg.com want to help you be better prepared for the financing process before you set foot on the dealership lot. With pre-approved financing, you will enjoy similar benefits as if you were paying by cash or check. The following steps are to help you prepare for a fast approval.

Make sure your credit report is accurate.  According to the Federal Trade Commission (FTC), 26% of consumers have at least one error on their credit reports, and 5% have errors that lead them to either be denied credit or pay higher rates of interest on financial products like auto loans. For this reason, it is important to request your credit report, check it for errors, and dispute any errors you find.  The FTC has found that in about 50% of cases, this leads to an increase in one’s credit score.

Make sure you meet minimum auto lending requirements. Most banks, credit unions, and other lenders that pre-approve borrowers for financing require a minimum monthly pre-tax income of $1500, as well as a debt-to-income ratio (DTI) of 45% or less. You may not be able to boost your income in the short term, but you can improve your DTI by paying off your debts.

Bring your proof of income to the dealership.  Most lenders require you to submit a current pay stub – no more than 30 days old and showing year-to-date salary totals. In most cases, they will want you to be a full-time W2 employee. Self-employed borrowers will need to provide at least 90 days of current bank deposit records and up to 5 year’s of tax returns.

Make sure your driver’s license is valid.  Although this should be obvious, many people don’t realize that they need a valid driver’s license in the state where they reside. Sometimes people have suspended licenses without even realizing it. You want to be sure that your driver’s license is up-to-date and valid.

Make certain you have full coverage insurance. All reputable auto lenders now require consumers to carry a full coverage insurance policy on the financed vehicle. This ensures that the at least part of the loan balance will be recouped in the event of an at-fault accident that totals the vehicle.

If you are considering buying a car, one of our finance officers can help you get started today.

Important Details to Consider When Choosing a Co-Signer

[Photo credit: Got Credit]

[Photo credit: Got Credit]

If you have poor credit, a co-signer could be a good option for you. However, both you and your co-signer need to be fully aware of the financial commitment that you both will be under before starting the process loan process. We here at HGreg.com wanted to provide you with some information that you should take into consideration when thinking about a co-signer.

Can You Trust One Another?

Your co-signer will be responsible for any payments that you cannot make. Additionally, if your payments are missed or late, both you and your co-signer’s credit score will be affected. Your co-signer has to trust that you will be able to make all of your payments on time and you will have to trust that your co-signer will have your back if you need some help. If possible, choose someone who is responsible and financially stable.

Do You Both Have Good Communication?

Communication is key and goes hand in hand with trust. For example, if you are having a difficult month and don’t feel like you can make your payment, you need to reach out to this person and let him or her know so that he or she can help out. It is up to you to be responsible and not jeopardize yours or your co-signer’s credit. Give them plenty of advance notice.

Just keep in mind that a co-signer can make the car buying process a bit easier, but you both need to be on the same page to make it work. If you are considering a co-signer, one of our finance officers can help you decide if that is the best decision for you.

What’s The Best Oil For Your Car?

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There are so many types of oil that you can choose for your car, it’s difficult to make the best decision. Although, you may want to choose the cheapest option that will be great for your pockets, there’s that little voice in the back of your mind telling you that “You’ll get what you pay for.” However, you know that it isn’t always necessary to choose the most expensive option either. How can you find the most cost-effective and best quality oil that’s good for you?

Why is the type of motor oil important to consider?

Motor oil is used as a greasy barrier between the parts of your engine, helping your vehicle run cleanly and more smoothly. According to Fox & Fox, motor oil cuts down the friction in your engine. When your engine doesn’t have enough oil, then friction occurs, which in turn slows everything down and increases the amount of heat produced. If you don’t replace your motor oil often enough or are using the wrong kind, you might be allowing too much friction to interfere with your car’s performance. Vehicle repairs are much more expensive than oil maintenance.

What is viscosity?
Motor oil is often measured by its viscosity grade and viscosity is a fluid’s resistance to flow. It’s important that the liquid flows through the engine easily, and you don’t want it to get too hot that it just drips away. That’s why knowing your vehicle’s viscosity grade is important.

Motor oil bottles have a combination of numbers and the letter W on the label – this stands for viscosity flow and the W stands for winter. So, for example, a bottle that has 10W-40 on the label has less viscosity in cold and hot than a bottle that has 20W-50. Essentially, the oil will thin when hot and thicken when cold and finding a good balance of thin/thick oil is crucial, because if your oil is too thick then your engine is going to work too hard, and if your oil is too thin then the engine is going to burn it up and this will cause more friction in the engine.

Conventional or synthetic oil?
Viscosity isn’t the only thing to consider when it comes to motor oil. According to Mobil, synthetic oils are better because many impurities are removed. Further, these oils can be tailored to respond better with certain engines. Mobile noted that synthetic oils work better for your engine and can protect it more efficiently for a longer period of time.

 

Now you know!
Although it would be nice to pay the cheapest price for motor oil, there are other very important factors to take into consideration. Be sure to always check your vehicle’s owner manual or do an online search of your make and model if you’re unsure about the oil you should use. Remember, our service department will be more than happy to help you with all of your car maintenance needs.

Six Maintenance Tips That Will Save You Money

six tips

Whether you purchase a new car of a previously own vehicle, vehicle maintenance is inevitable. Proper vehicle maintenance doesn’t have to be expensive. Below are six maintenance tips that will save you money, allow you to become more familiar you’re your vehicle and extend the life of your automobile.

  1. Wiper Blades: We all know how important it is to be able to see out of our windshield. Try to replace your wiper blades every six months to a year. It will only take you about 15 or 20 minutes, and can cost as little as $10.
  2. Spare Tire: You should always keep adequate air pressure in your tires, and check this periodically. But that doesn’t mean you should neglect your spare tire. When the temperature changes, air pressure does as well, so make sure your spare is always in good condition and ready to be used.
  3. Fluids: Keeping your fluids topped off is something you can do on your own. Whether it’s windshield wiper fluid or brake fluid, you should periodically make sure your levels are as they should be. According to Bankrate, windshield wiper fluid is only about $2 to $4 a gallon, while brake fluid can be anywhere from $3 to $17. Anti-freeze is also an important fluid to keep an eye on, especially as the weather is changing. Gallons of anti-freeze tend to run about $10 to $16.
  4. Air Filter: The engine air filter is important because it allows oxygen to move through your engine and keep it cool. Like any filter, it accumulates dust and filth and needs to be replaced. According to One Cent at a Time, a lifestyle and financial blog, keeping your air filter clean will also increase your car’s overall power and gas mileage.
  5. Headlight Bulbs: If you find your headlights are getting low, or maybe one has already gone out, don’t waste time. Headlight bulbs are simple to replace and don’t require the assistance of a mechanic. While there are some vehicles that contain sealed-beam headlights, which will require you to visit an auto shop, many do not, making it simple for you to simply take out the old bulb and put a new one in. Just make sure you get the right type of bulb.
  6. Battery: Cleaning your battery from time to time will keep it efficient and help it last longer. Your battery will accumulate dirt and grime, which is normal, and you should scrape it away. This can be as simple as using a wire brush. If corrosion is pretty bad on your battery, then you should consider purchasing an anti-corrosive fluid that would help break it down.

A little vehicle maintenance doesn’t have to be a daunting task. Consider how much money you will save and how long your vehicle will last in the long run. For additional vehicle maintenance needs be sure to stop by our service department and we’ll get you squared away.

Why An Autocheck Report Is In Your Best Interest

autocheck

We all know that it is very scary to purchase a used or previously own vehicle. You just never know how responsible the previous owner or owners were. This can be quite unnerving for consumers when they’re looking at potential cars to purchase.

I mean, how do you know if a vehicle has been in a prior accident? Or how can you trust it was repaired correctly after an accident?

AutoCheck is on your side
AutoCheck takes all of the guessing work out of purchasing a used car. Here are some of the things that an AutoCheck vehicle history report identifies for you:

  • Accurate mileage
  • If the vehicle has been in any accidents
  • Whether the odometer has been tampered with
  • Frame or water damage
  • Whether the car has been stolen or repossessed
  • If the car is branded as a lemon
  • Whether the vehicle was used as a police or taxi service vehicle

These are only a few of the factors an AutoCheck history report takes into consideration. Think of it as a summary of the car’s entire lifespan, from creation until the day the report is pulled.

Easy to understand scoring system
Additionally, another thing that makes AutoCheck so nice is the simplicity at which the company rates vehicles. There is a number scale that rates the cars between 1 and 100 and is as straightforward as it gets. This score takes into account all the factors mentioned above and even more.

Where does the information come from?
Data is provided by Experian, a global market leader in information services, which gives the entire AutoCheck more validity and customers a peace of mind. We here at HGreg.com provide a free AutoCheck report for every single vehicle in our inventory. Start your search for your next vehicle today.

What You Need To Understand About Your Credit Report

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Many people understand that their credit determines whether or not they’ll have a high interest rate or a low interest rate when they make certain purchases. However, there is much more to your credit report than just the score and understanding it is not very difficult to understand, you just have to know what you are looking at.

If you are concerned about your credit report, or even if you have never shown the slightest interest in your score, then consider the following information: Understanding your credit score is important, not only to know where you stand financially, but also to be aware of how credit works and what you can do to improve your score, not to mention maintain it.

What Goes Into It?

Your credit report is essentially a summary of your financial history. This means it accounts for everything from past bill payments, the number of accounts you have had, how long your accounts have been open, recent credit activity and whether any of your debts have been referred for collection, bankruptcy or foreclosure.

Is All Credit Information Equal?

Since your credit report is comprised of your credit history, you might assume that each piece of information is weighed the same, but, in fact, there are differences in how each part of your history is calculated. According to myfico.com, the largest part of your credit report is weighed by your payment history. In fact, this number makes up 35 percent of your total score and new credit accounts are 10 percent of your score.

Some types of credit affect your score more than others, like credit card debt, which will have a stronger impact than a student loan. Some loans are designed to be long term, which means they won’t bring down your score as fast as outstanding credit card payments. Credit cards are easier to use, more readily available and because of that, they come with higher risk.

However, everything you owe is also put into a category – amounts owed – which makes up 30 percent of your score. This is a significant number, which means staying on top of your monthly payments is hugely beneficial to your overall credit score. Additionally, the length of your credit history is taken into account as well, making up 15 percent of your score. It is for this reason you shouldn’t close out credit card accounts, even if you have cards you never use. If you close old accounts, it shortens the length of your report history, which can work against you. Having a long history helps your new debt have less of an impact, but it is still important to stay on top of it.

Does Applying For A Loan Hurt My Score?

Whenever you apply for a loan, regardless of the type, a lender is going to check your credit score to gauge how much of a risk you are. When your lender performs this action, it is called a hard inquiry, which will bring your score down slightly. This can also be the case when you apply for new credit cards, as the bank or provider will check your report for approval. For this reason, you should not apply for a large number of credit cards or loans in a short period of time.


However, hard inquiries are common and the impact they have on your score is easily repairable. These inquiries are not made to prevent you from taking out loans, but to keep you from relying too heavily on loans and credit. Additionally, according to TwoCents.com, you can check your own credit report as well, and this is known as a soft inquiry. This will not affect your credit as much.

What Are The Actual Numbers?

Credit score range from 300 – 850, with 850 being considered excellent and 300 very poor. 720 is commonly accepted as a good score, and then from there it is referred to as fair, poor and ultimately, very poor.

Checking your score to see where you stand is a good idea. And you shouldn’t wait until a lender checks it. You should be proactive about your credit score. Know what you numbers are so you can improve or maintain whatever path you are on. Additionally, there might be mistakes you can have removed, but this is only the case if you take a look. Whether or not you are confident about your credit report, if you are ready to take the next step to purchase a quality vehicle, contact us. Our finance officers are ready to assist you today!