Car Loans And Bankruptcy Go Together Like Peanut Butter And Jelly

I know, “What the heck, right?” Let me explain how putting car loans and bankruptcy together is as easy as combining peanut butter and jelly to create a tasty little sandwich.

Getting car loans after bankruptcy doesn’t have to be an unpleasant and painful situation. Eliminate the struggle by discovering that there are decent car dealerships or auto consultants available that will extend a car loan to someone who has a recent bankruptcy.

Getting rid of the struggle can leave you calm and assured that you will be able to get a quality car that fits into your budget.

Tips for getting your loan.

Locate a local car dealership or auto consultant that has a special financing department that works with people who have a bankruptcy. Speak with them and learn how they can help you with a car loan after bankruptcy. Tell them your specific situation and ask to meet with them for further discussion.

Prior to your visit there are a few things you can gather that will help the special finance salesperson get your pre-approved for a car loan with your circumstances.

A proof of income is going to be the most important information so bring with you a couple of your latest pay stubs.

In addition, the salesperson will want to see a valid state issued driver’s license along with proof of insurance. If you bring your insurance card and the name and number of your insurance agent or company the consultant can easily verify that you have insurance coverage.

And finally, the salesperson will want proof of residency. Bring along 2 of your monthly bills such as your electric bill and your cell phone bill and this will provide the necessary proof of your residence. Sometimes they will ask you for a list of references also, so have this handy and ready for the salesperson to review.

After handing over the necessary information, discuss the payments that you feel you can comfortable handle each month. After all, this is the bottom line you are most likely interested in since you are recovering from a financial downfall.

A salesperson that has your best interest at hand will understand your needs and what you can handle in a monthly payment and not try to sell you more car than you can afford. Car loans and bankruptcy can work together to help you toward a brighter tomorrow.

How To Sell An Intangible – A Finance And Insurance Sales Training Example

Finance and insurance sales training:

Many years ago I had my first sales assignment as a finance and insurance salesperson at a Chrysler automobile dealership in North Carolina.

I remember one of my first customer’s was Mr. & Mrs. Jacobs. They were a middle aged couple with one teenager still at home. They were buying a new Chrysler that would primarily be Mrs. Jacobs car.

There is one big difference in auto sales training and finance and insurance sales training. In car sales you are selling a tangible item the prospects can see and feel. In finance and insurance sales you are selling an intangible the prospects can’t see and feel. One is not better or worse they are just different and require different sets of selling tools.

The products I sold as a finance salesperson were things like extended service contracts, credit life insurance, accident and health insurance, and the actual financing of the vehicle they were purchasing.

Two intangible selling tools used in finance and insurance sales training

Intangible selling tool #1 – Savings / cost comparison:
First I presented to the Jacobs an extended service contract and Mr. Jacobs said he didn’t want it.

Then I showed him a list of 10 of the most common types of major repairs people need to have done on their vehicles that the extended service contract covers. Next to each item was listed the labor hours required to do the repair multiplied by the average per hour labor rate for the local area. And next to that was the average parts cost of that particular repair. Most of these individual repairs came to a total of parts and labor cost of over a thousand dollars some were several thousand dollars.

I then showed him and extended service contract that was priced at $599. I also showed him the details of the coverage and how each of my 10 common examples would have been fully covered. This could possibly save him thousands of dollars in repair costs depending on the type of repair.

After showing him how much his potential savings could be and then comparing it to the much lower cost of the service contract he agreed to buy it.

Intangible selling tool #2 – Protecting a loved one:
The second product I presented to the Jacobs was credit life insurance on their car loan. Again Mr. Jacobs responded by saying, “I don’t need it.”

I agreed with Mr. Jacobs that he may not need the credit life insurance but his wife, who was a stay at home mom, may need it one day. I explained that if he were to unexpectedly pass away his wife would be required to continue making the payments on her car if she wanted to keep it.

I them gave him two examples of actual situations I knew of regarding credit life insurance on cars where the husband passed away.

After that, Mr. Jacobs wanting to protect his wife said he would take the credit life insurance on their car loan.

The finance and insurance sales training take away tip
How to sell an intangible? In both situations I was selling a product that my prospects could not see or feel. And with the above two selling tools I turned the product’s benefits into something my prospects could see and feel.

Try using these selling tools on your next intangible product presentation and watch it improve your closing success.

General Auto Insurance Related Info

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The best thing about online auto insurance quotes is that they will take very little time to complete, and you will know almost immediately how much you can expect to pay, and all with no obligation to sign. This means you can easily shop around for the absolute cheapest car insurance rates available to you until you find one you are comfortable with. There are much too many people paying unnecessary high rates for their insurance coverage as a result of that they are not aware of the simplicity of free or extremely very cheap auto insurance quotes. It is definitely to your advantage to consult online auto insurance professionals, who are striving to bringing contentment to the public concerning insurance coverage. It is well worth the short time it takes to find out.

However, the single most important thing that’s most likely to save you money when buying auto insurance is to carefully shop around. Of course it is a pain and not a very fun or good way to spend an afternoon, but it can really save you a lot of money in the long run on your automobile insurance premiums. When your insurance needs to be renewed it is very tempting to sign the check and not check for better rates elsewhere, but this could be costing you a great deal of money. With a bit of effort you can achieve or realize a real saving on your auto insurance and this can make your driving a lot more affordable.

Always try to maintain a good credit record. This assists in fetching you a good insurance policy for most often insurers use the person’s credit information to rate auto insurance policies.

AUTHOR’S NOTE — I hope you are enjoying this article so far. It should prove very helpful whether your actual query is about General Auto Insurance or any other related other related Rental Insurance Florida, Car Insurance Fresno, North Carolina Motorcycle Insurance, Indiana Auto Insurance Quote, Lowest Cost Auto Insurance and Cheap Car Insurance With No Claims information. Read on.

Higher deductibles are another way of getting low cost auto insurance. When you increase your deductibles, you lower your premiums by as much as 15 to 30 percent. Call your low cost insurance agent or check online to see what kind of impact changing your deductible, will have on low cost auto insurance. For example, if your existing deductible, is four hundred dollars, see what would happen if you raise it to six hundred dollars, or even eight hundred dollars.

If you have an older car worth in range $1000 – $2000, you might be better off dropping the collision coverage. Check to see if your collision premium is more than the value of the car.

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Senior drivers can refresh their skills and knowledge — and get a discount on auto insurance coverage in many states — by taking a refresher driving course, such as the eight-hour “55 Alive” course offered by AARP. More than two-thirds of states mandate auto insurance policy discounts for such courses, and many insurance companies offer the discounts voluntarily.

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By: deepak kulkarni