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Having Trouble Paying Your Auto Loan?

There are many people out there, who are just like you, that cannot afford their vehicle payments any longer. In today’s economy that concept is certainly believable, and you can expect the number of auto loan defaults to be in the thousands. I, myself, was in this exact predicament not too long ago. I felt like my auto payment was too overwhelming and that I needed another way to pay or end up losing my car. The panic and frenzy begins when you are feeling that you have just dug yourself a 12 ft. hole in the ground with no chance of escape. You are 2 or more payments behind and the loan company is hounding you for money. The problem is that you can’t pay. So what are you going to do?

One of the worst things to do is to just ignore the calls period. This will only make your 12 ft. hole deeper than what it is already. I know what you are thinking, “If I pick up the phone and talk to them, they are going to be rude, nasty, and demand prompt payment.” Mostly likely the chances of that happening are very high, but you could also be polite, even when they aren’t, and explain your situation to them. When I finally did pick up the phone, after avoiding calls and eventually receiving a letter stating pay up or we will take the car, I was polite and explained that I am just having some financial hardship right now that is preventing me from paying this higher auto loan payment. Explain that you are trying very hard to catch up late payments but you are getting to a point where it is becoming more and more difficult. Worst case scenario they tell you it’s not their problem and you need to figure something out, or best case scenario they agree to work with you on deferring a couple of payments to get you back on track or creating a more comfortable payment schedule that fits more with your needs.

There are several ads out there promoting the fact that they can reduce your auto loan up to 50% or more and even create a plan where you can skip 1 or 2 payments. Ok, first off this is completely true. There is a way that this can be done, but would you believe that you can do this all on your own without spending any money? I was driving in my car, which I was still 2 payments behind on, when I heard the first of these ads. “Wow,” I thought. “This is exactly what I have been looking for to help me with my money problem.” I played it safe, though, fortunately and discovered that what these people are soliciting is provided on the auto loan company’s website under a different name. My savior? Auto Loan Remodification. Say it with me, “Auto…Loan…Remodification.” I bet you are thinking that you should have thought of this before, since it is also the suggestion to mortgage loan problems as well.

So what’s the big hype about these auto loan remodifications anyway? First off, these are the gems that actually do reduce your auto loan payments 50% or more and can also help you defer some payments as well. I called the bank, where my loan was established, and simply asked if there was something available to help during hardship etc. The answer was yes, and then I was redirected to the hardship department. All they asked me for was a copy of my bank statement, a months worth of pay stubs, asked me what bills I currently pay and how much, and a form that needed to be filled out and signed. Yes, it was that simple. No paying someone else a percentage of reduction for doing something that easy. These radio advertisement gimmicks are just trying to get money doing the one thing that you haven’t discovered you can do yourself. So within a day I got approved for my loan remodification, my car payment was reduced more than a half, and I am finally able to breathe again.

So the moral here, folks, is to just make that call. Don’t get pressured into too good to be true advertisements, because you will end up paying more in the long run. For 20 minutes out of your schedule you could be saving yourself a lot of money and reducing those anxiety attacks from money problems. I just wanted to share my experience with everyone just to show you how easy it is to just talk to someone about your problems. I figured that if everyone could see how I went about things, then it would encourage you to do the same thing.

Volvo Previewed the Concept XC Coupe

If you were one of those who went to the 2014 North American International Auto Show this January in Detroit, you probably already seen the three new vehicles in the Volvo line. These vehicles weren’t anything you have seen on the road or at one of the local dealers because they are concept cars. Even though they were designed to be put on display, they haven’t been given the go for production. One of those cars was the XC Coupe, which brings together safety, sport and the design elements that makes Volvo what it is.

If you weren’t one of those close to 838,000 who went to the auto show, you can find the information on the vehicle below. The coupe has two doors, but there is room for four inside. The vehicle is also based upon the scalable architecture wherein all of the developments for the vehicle are going to contain the three main elements that represent the Volvo brand.

As of yet, the powertrain details haven’t been released on the coupe. Volvo isn’t even letting people know if, let alone when, this vehicle will actually be produced. It does fit within the culture of the automaker, so it would make sense to produce it.

Sport

The XC Coupe is definitely a sporty ride. The design of the car was based on modern sports equipment from POC, which is a Swedish firm that develops sports equipment for the most extreme of athletes. One of the first indicators of just how sporty the ride is comes with the 21-inch wheels, which give it a powerful look and stance. Skid plates and side moldings help accentuate the vehicle further.

Powertrain

Even though Volvo isn’t releasing what’s going to be under the hood, a big clue came from the sticker it had on it saying plug-in hybrid. When the details are released, it wouldn’t be a surprise if there are eco-friendly features that come with it.

Style

Various design elements make this coupe stunning. Look at the floating grille, a bow extending the length of the car and t-shaped DRL lights. Not only is the appearance on the adventurous side, but it is great for attracting others to you. All it takes is one glance at the coupe to imagine yourself in any number of different places. Even though there isn’t a word on when the vehicle is going to be released, you can expect the coupe to appear in other models like the XC90, XC70 and XC60, as well as the cross-country V40.

The Tokyo Motor Show

Over 50 years old now, the Tokyo motor show has been a center of attraction since 1954, for all those interested in the automobile industry.

The show is popular for featuring state-of-the-art and futuristic technologies in the form of concept automobiles including trucks, buses and cars. You can expect to find huge array of fresh concepts all across the show. There are so many of ‘em that you might find it tough to follow each of the exhibits in detail.

History

During the early history of the show, its focus remained on passenger vehicles viz. truck and buses. However, in the wake of the growing Japanese auto industry and trading of Japanese cars around the world it expanded focus to include passenger cars. Even now when the auto industry in the western hemisphere finds itself under rough weather, the Japanese auto industry hopes for landmark performance.

Organizers of the show, the Japan Automobile Manufacturers Association, changed the format of the show beginning with last year’s event (i.e. Tokyo Motor Show 2007). Now the show will be held once every two years, with the commercial vehicle show to be held in year in between. The next episode of the tradition is the forty-first, Tokyo Motor Show to be held in 2009.

The biennial event promises to include a comprehensive range of passenger cars, motorcycles, commercial vehicles, commercial vehicle bodies, and vehicle parts.

Tokyo Motor Show 2007

Carrying the theme “Catch the News, Touch the Future,” the event was held at Makuhari Messe, Chiba and lasted a good 17 days, from October 26, 2007 (Friday) to November 11, 2007 (Sunday).

Visitors

Close to 1,425,800 people visited the show, however this number was considerably less than numbers who visited the show in 2005. In 2005 about 1,512,100 had come to the show.

Premieres

Considering both the Japan and the world, a good number of premieres surfaced at the event. Numerically, there were 77 World Premieres (5 commercial vehicles, 36 passenger cars, 32 motorcycles, 4 vehicle bodies) and 103 Japanese premieres (2 commercial vehicles, 75 passenger cars, 26 motorcycles).

Technology Featured

The themes and focus of the recent past shows have showcased drivetrains and its components viz. transmission, drivelines, etc, and fuel-cell and hybrid vehicles.

During the 2007 event fuel-cell and the hybrid vehicles stole the limelight. For instance, Toyota featured a concept vehicle “1/X” or “one-Xth.”

Similar to a Prius, the vehicle claims to achieve twice as much fuel economy. It features a featherweight automotive frame made from carbon-fiber-reinforced plastic, which also helps to save gas.

The concept further has an additional plug-in hybrid powertrain, which can run on either gasoline or E85 (a mix of 85% ethanol and 15% gasoline).

To learn more about the show and for insights into the automobile industry, kindly visit my blog.