Tips for First-Time Car Buyers

Trading in your car can be a smart way to reduce the cost of your new vehicle purchase. By applying the trade-in value to your next car, you can lower the loan amount, reduce monthly payments, and potentially get better loan terms. Here’s how to maximize your trade-in value and lower your loan amount. 1. Determine Your Car’s Trade-In Value Use online valuation tools like Kelley Blue Book to estimate your car’s worth. It’s important to get an in-person appraisal to get determine your vehicles value. 2. Prepare Your Vehicle for Trade-In Clean Inside and Out: A well-presented car can make a better impression and potentially increase its trade-in value. Fix Minor Repairs: Address minor issues like scratches, dents, or burnt-out lights to improve the appraisal value. Provide Maintenance Records: Showing a history of regular maintenance can reassure dealers that your car is in good condition. 3. Apply the Trade-In Value to Your New Car Loan Use the trade-in value as a down payment to reduce the loan amount. A lower loan amount can result in lower monthly payments and less interest paid over time. Ask about tax savings. Some states only tax the difference between the new car price and trade-in value. Final Thoughts Trading in your car can be a convenient way to lower your loan amount and simplify the car-buying process. By being prepared, you can get the best trade-in value and reduce your overall financing costs. Get KBB Trade Value The information provided is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive to provide accurate and up-to-date information, we make no guarantees regarding the completeness, accuracy, or reliability of the information presented. Any action you take based on the context of this blog is strictly at your own risk. Always consult a qualified professional or specialist for advice specific to your situation. We are not responsible for any losses or damages arising from the use of this blog or its content.

Did you know FICO scores are utilized in over 90% of lending decisions? Here’s a quick breakdown of how the credit bureau determines the FICO score: 35% – Payment History: This is the biggest factor that affects your FICO credit score. Being a few days late on a couple payments won’t be damaging, but it does affect your current status rating. Credit agencies generally use a rating scale of 1-9 to rate your status – 1 being “Pays as Agreed”. This means you’ve been paying the agreed amount by the agreed date with you and your lender. One to thirty days late on a payment brings your status rating down to a 2. If you’re looking to build your credit, the best place to start would be to obtain a free credit report. It can tell you many things about your credit, and it is very easy to see what areas need improvement. You can usually get one free one a year, pay for a monthly service, or a one time fee. Speck Buick GMC pulls from Equifax, Transunion, and Experian, these scores can differ from each other so it’s important to see all of these – especially when buying a car. Beginning the car-buying process? Fill out our credit application online to get started! 30% – Amounts Owed: The amounts of debts you have left to pay are what the credit bureau looks at to determine whether you may have too much on your plate. When looking at your credit report, keep in mind that the report generally reflects the payment balance from your last statement. Typically it defines what the lender has reported to the credit bureau. The bureau will look at how many different accounts with a debt balance you carry, credit usage percentage on your credit cards, as well as how much of any installment loans (such as car loans) you’ve paid so far. To help your score, make sure you work towards getting your debts paid off and on time before you decide on another large purchase. 15% – Length of Credit History: Credit age is not everything that determines your FICO score, but sometimes it can be the difference whether you receive that loan or not. Lenders want to see credentials of payment with a history of credit. No credit history? It can be surprisingly easy with patience and commitment to payment. Apply for a basic credit card with your bank. It’s a good idea to ask what kind of credit card is best for someone just beginning a line of credit, and usually it also comes with a small starting limit, usually around $500. Only use your credit card for smaller items or services – or just choose one thing you can pay for monthly such as a streaming service like Netflix or Hulu. Regardless of what you decide, make sure it is something that you can easily pay back. As soon as you get your first statement, transfer that full owed amount right to your credit account by the date on the statement. If you’re a first-time car buyer with no credit history, doing this 6-8 months before you decide to buy is a great way to get a head start on the car-buying process. Finally paid off that card? Consider keeping the account, especially if it’s your oldest account, as it may be an important part of keeping your credit history a positive influence on your credit history. 10% – New Credit: Like mentioned previously, patience is a key factor to building credit. It’s very important to take it one credit line at a time, and don’t open up too many credit accounts in a short period. This can negatively influence your FICO score as it also affects your history. Inquiries from the last 12 months, such as hard pulls, are considered in your FICO score. Auto and mortgage usually pull multiple inquiries, but it is a myth that this heavily affects your credit score. It may drop a bit, but many times these are treated as single inquiries. 10% – Credit Mix: Auto installment loans, mortgages, retail accounts, credit cards, and more – how many different types of credit accounts do you manage? The credit bureau will consider your experience with various credit accounts. It’s important to know having too many accounts open can present a negative outlook on your FICO scores. Compared to those with a history of successfully managing a credit card, people who don’t have a credit line can be viewed as “higher risk”. Make sure all different accounts are managed responsibly in order to keep your credit in check. The information provided is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive to provide accurate and up-to-date information, we make no guarantees regarding the completeness, accuracy, or reliability of the information presented. Any action you take based on the context of this blog is strictly at your own risk. Always consult a qualified professional or specialist for advice specific to your situation. We are not responsible for any losses or damages arising from the use of this blog or its content.

Has your check engine light come on recently? Do not ignore it. A check engine light diagnostic near Kennewick, WA is the fastest and most reliable way to find out what is going on with your vehicle. At Speck Buick GMC, our certified technicians are ready to help. Here is everything you need to know about your check engine light and why a diagnostic matters. What Is the Check Engine Light? The check engine light is part of your vehicle's onboard diagnostic system. It is also known as the malfunction indicator lamp or MIL. Your vehicle's computer monitors hundreds of sensors and systems simultaneously. When something falls outside of normal operating parameters, the computer triggers the check engine light. Think of it as your vehicle's way of telling you something needs attention. It does not always mean something catastrophic is wrong. However, it should never be ignored. Common Causes of the Check Engine Light The check engine light can come on for many different reasons. Some causes are minor and inexpensive to fix. Others can be more serious if left unaddressed. Here are some of the most common reasons your check engine light may be on: Loose or Damaged Gas Cap A loose, cracked, or missing gas cap is one of the most common triggers for the check engine light. It causes fuel vapors to escape from the fuel system. Simply tightening or replacing your gas cap may resolve the issue. It is always worth checking your gas cap first before assuming a bigger problem exists. Oxygen Sensor Failure Your oxygen sensor monitors the amount of unburned oxygen in your exhaust system. A failing oxygen sensor can affect fuel economy and engine performance significantly. It is one of the most commonly replaced components after a check engine light diagnostic. Ignoring a faulty oxygen sensor can lead to damage to your catalytic converter over time. Catalytic Converter Issues Your catalytic converter reduces harmful emissions from your exhaust system. A failing catalytic converter can cause reduced engine performance and poor fuel economy. It is often triggered by ignoring other warning signs like a faulty oxygen sensor. Catalytic converter replacement is one of the more costly engine repairs available. Mass Airflow Sensor Failure The mass airflow sensor measures the amount of air entering your engine. A failing sensor disrupts the air and fuel mixture your engine needs to run properly. Symptoms include rough idling, poor acceleration, and reduced fuel economy. A check engine light diagnostic can quickly identify a faulty mass airflow sensor. Spark Plug or Ignition Coil Issues Worn spark plugs or failing ignition coils are a common cause of engine misfires. Misfires trigger the check engine light and can cause rough idling and poor acceleration. They can also cause long-term damage to your catalytic converter if left unaddressed. Regular spark plug replacement is an important part of routine engine service. Thermostat Issues A failing thermostat can cause your engine to run too hot or too cold. Both conditions can trigger the check engine light and affect engine performance. A faulty thermostat can lead to serious engine damage if not addressed quickly. Our engine service team can diagnose and replace a faulty thermostat quickly and efficiently. EVAP System Leaks The evaporative emission control system prevents fuel vapors from escaping into the atmosphere. A leak in the EVAP system is a common cause of the check engine light. EVAP leaks can range from a simple loose gas cap to a more complex system failure. A professional check engine light diagnostic is the best way to identify the exact source of an EVAP leak. Why Is It Important to Get a Diagnostic Done? Getting a check engine light diagnostic done promptly is one of the most important things you can do as a vehicle owner. Here is why: A diagnostic gives you accurate information about what is going on with your vehicle. It removes all of the guesswork and points directly to the source of the problem. Without a diagnostic, you are essentially guessing at what might be wrong. That can lead to unnecessary repairs and wasted money. Our Service Advisor Dani puts it best: "Even if you think you know what the problem is, there could be a bigger underlying problem." — Dani, Service Advisor, Speck Buick GMC This is advice worth taking seriously. What appears to be a minor issue on the surface can sometimes point to a much larger problem underneath. A professional engine diagnostic gives you the full picture before any repair work begins. It protects you from spending money on the wrong fix. A diagnostic also helps prevent small problems from becoming big ones. Catching an issue early almost always means a less expensive repair. Ignoring the check engine light and hoping it goes away is never a good strategy. The longer you wait, the more damage can occur. What Happens During a Check Engine Light Diagnostic? Our certified technicians connect a professional-grade diagnostic scanner to your vehicle's OBD-II port. The scanner reads the fault codes stored in your vehicle's computer. Those codes tell us exactly which system or component triggered the check engine light. Our technicians then perform a thorough inspection to confirm the root cause of the problem. You receive a clear explanation of what was found and what repair is recommended. There are no surprises and no pressure. Check Engine Light Service Near Kennewick, WA At Speck Buick GMC, we offer professional check engine light service near Kennewick, WA for all makes and models. Our certified technicians have the tools, training, and experience to diagnose and repair any issue quickly and efficiently. We use Genuine GM OEM parts on every engine repair to ensure the highest quality results. Do not ignore your check engine light. Schedule your check engine light diagnostic near Kennewick, WA today. Here is how to book your appointment: Online: Visit our website and click "Schedule Service" By Phone: Call our service department directly Walk-In: Stop by during service hours for same-day diagnostic availability Our team at Speck Buick GMC is ready to help. We serve Kennewick, Richland, Pasco, and the entire Yakima Valley. Come see us today and let our certified technicians get to the bottom of your check engine light quickly and professionally. Schedule Appointment The information provided is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive to provide accurate and up-to-date information, we make no guarantees regarding the completeness, accuracy, or reliability of the information presented. Any action you take based on the context of this blog is strictly at your own risk. Always consult a qualified professional or specialist for advice specific to your situation. We are not responsible for any losses or damages arising from the use of this blog or its content.