Are you in the market for a new or used car that requires financing? If so, beware of these common and very costly car loan mistakes. Not only are they preventable, these car financing mishaps can end up costing you a ton of extra money and stress. Instead, do your research and steer clear of these common car buying errors… 1.

When you’re in the market to finance a car, the last thing you want is to be turned away because you don’t have the proper documentation. Both in person dealer purchases and online lenders will require the following personal documentation in order to approve an auto loan. Consider obtaining and bringing along these basic documents in order to qualify for new or used car financing… 1.

Teenagers are often blinded by fast wheels and a shiny exterior when it comes to getting behind the wheel of their first car. It’s the parents who get left paying off the loan. However, helping your teen take on their own financing can be a great lesson in responsible purchasing and also teach them the importance of building a positive credit history.

You’re driving along on a nice sunny afternoon, when suddenly out of nowhere, a stone flies up and leaves a tiny stone chip in your windshield. It’s ironic that the tiniest of specks from gravel, sand, ice, a pebble, fallen debris from trees, and even a bird can chip or crack your windshield, sunroof, or side and rear windows of your vehicle.

Car insurance is meant to give driver’s peace of mind by covering damage due to storms, vandalism, and accidents. However, regardless of how much you pay for your policy, no insurance will cover you for everything imaginable. Take a boo at these surprising things that your insurance policy won’t pay coverage for… 1.

Congratulations! You have a teen driver in the family. However, you teenager wants a car, but you know that adding a teen driver to your insurance policy is going to inevitably increase your insurance rates. The reason for this is statistically, young drivers are considered more of a risk than seasoned drivers, with increased accident, careless driving, speeding, and even tickets.