MonitorBankRates.com has just released new car loan rate tables that you can use to find the best car loan rates available.

The rate tables include new car loan rates and used car loan rates. Auto loan rate tables include 36 months car loan rates, 60 month, and 48 month car loan rates as well 48 months used car loan rates.

The auto loan rates include rates from both banks and credit unions. On a new $40,000 car, a 60 month car loan in the state of California, we were given rates from about twenty banks and credit unions. The best rate was 3.99 percent from Pentagon Federal Credit Union (PenFed).

The rate tables also include loan points and how much the monthly payment would be on the loan amount entered. Give the auto loan rate tables a try to find the best rates in your state.

Car Loan Rate Tables

Getting the best car insurance rates these days has become a lot easier thanks to sites that give consumers the ability to compare car insurance rates from several companies quickly.

Car insurance is a must to protect yourself and others from costs incurred by injury or property damage if you’re involved in an accident. You must have car insurance to register your vehicle. 

Looking for Car Insurance? MonitorBankRates.com has a car insurance search engine you can use to find insurance companies providing in car insurance in your zip code. Find Car Insurance Companies Here

The biggest question when shopping for  car insurance is how much coverage do I need? The minimum amount of car insurance you can carry is usually set by the state you live in, so you can use the minimum coverage as a starting point. In addition, you will have to determine the minimum amounts you want for each type of insurance coverage.

Types of car insurance coverage include collision insurance, which pays for damage to your vechicle if you collide with another vehicle or object.  If your car is financed, the lien holder will require you to maintain a certain level of coverage just in case of loss or damage.

Comprehensive insurance coverage pays for damage or loss to your auto from other sources other than collision, like fire, theft, etc. Banks will require you to have comprehensive coverage if your auto is financed.

Medical coverage pays for a limited medical expenses for you or a passenger is injured in an accident.

Other types of coverage include towing expenses and rental car expenses during the time your car is being repaired. Car insurance policies will pay a certain daily dollar amount for a rental car for a certain amount of time, usually for a month.  

Now that you have determined what types of coverage you need and want start your search for the best car insurance rates. When you’re comparing rates be sure to compare apples to apples, the amount of liability coverage is usually quoted as 25/50/25, which means up to $25,000 in bodily injury coverage person/ up to $50,000 if two or more persons are hurt/ up to $25,000 in property damage. 

Tip: A good place to start is with an insurance company you already have a relationship with. Some insurnace companies will give you a discount on auto insurance rates if you already have home owners insurance or other types of insurance with them.

MonitorBankRates.com has a comparison tool you can use to start your search for the best auto insurance rates from insurance companies in your zip code.

Bank of America is advertising some of the best car loan rates available these days. The new car loan rate is the lowest auto loan rate available at Bank of America, the current new car loan rate is currently at 4.10 percent for car loans up to 60 months and 4.34 percent for auto loans for 61 months to 72 months.

Getting a new Car? Now is the time to look into how much auto insurance will cost for your new vehicle. Find auto insurance companies offering coverage in your zip code here: Auto Insurance Rates

Bank of America’s used car loan rate for cars purchased at a franchise dealer is currently being advertised at 4.55 percent for car loans up to 60 months and the auto loan rate is 4.74 percent for loans between 61 months and 72 months.

Used car loans for purchasing an auto from a private party is a lot higher than purchasing from a franchised dealer. The current rate of loans up to 60 months is 6.85 percent and 7.65 percent for auto loans between 61 months and 72 months.

Rates for doing an auto refinance are at 4.74 percent for auto loans up to 60 months and 5.54 percent for car loans between 61 months and 72 months. Leased buyout loans, buying your leased auto and financing the purchase,  are at 9.24 percent for car loans up to 60 months and 9.69 percent for car loans between 61 months and 72 months.

The government is ending the cash for clunkers program on Monday since the program is running out of cash again.

The Car Allowance Rebate system has been so hugely successful the program was given and additional two billion dollars not to long ago. The program will end on 8:00 pm Monday, August 24.

There will be a mad rush this weekend to car dealerships across the county to people can take advantage of the rebate.

The rebate can be between $3,500 and $4,500 depending on the mileage of the car being traded in and the car being purchased.

So far, the cash for clunkers program has recorded 1.9 billion in rebates totaling more than 457,000 car rebates. Most people have turned in trucks and SUV’s in exchange for passenger cars, with an improved gas mileage of around 60 percent.

Find the Best Auto Insurance Rates Here

The very popular Car Allowance Rebate System, better known as Cash for Clunkers has been clarified to include cars and trucks not yet on dealer lots.

The National Highway Traffic Safety Administration  (NHTSA) has clarified that people who want to purchase a new vehicle not yet on car dealer lots can still be eligible for the Cash for Clunkers program.

Looking for the Best Auto Insurance Rates in your area? You our auto insurance search engine to find auto insurance companies offering insurance in your zip code.

Find Auto Insurance Companies Here

Consumers and car dealerswho have reached a valid purchase and sale agreement on a car that is already in the production pipeline will be able to work with the manufacturer to receive the documentation needed to qualify for the program.

The CARS program, which had an initial $1 billion in financing ran out of money in the first week because it is so popular had an additional round of funding of $2 billion.

Here is a current list of approved Cash for Clunkers Vehicles:

YEAR NEW MAKE NEW MODEL DISP. (L) TRANSMISSION CYLINDERS

The very popular Car Allowance Rebate System also known as the “cash for clunkers” program will probably get another two billion dollars in funding.

The program started in late July and the original one billion in funding ran out in about a week because the program ended up being a lot more popular than the government ever imaged.

The  House voted to approve more funding and the Senate will vote today. Surprisingly, there are critics of the program.  How can any politician criticize a program that gets consumers spending again buying automobiles?

The program is helping out auto manufacturers, auto dealers and will probably get some auto factories that were idled producing vehicles again.

I personally think the second round of funding should be more than two billion, why not five or ten billion?

I also bet this round of funding will be depleted just as fast as the original one billion, if not faster since there will be a mad rush to dealerships across the United States.

When shopping for auto insurance rates you should also consider additional auto insurance coverage beyond the minimums set by the state you live in. Most states require you to have bodily liability and property liability coverage.

The minimum bodily coverage will probably be around $15,000 for death or injury of any one person, any one accident and $30,000 for all persons in any one accident. The minimum amount of property liability coverage will probably be around $5,000.

Looking for Auto Insurance Rates?

MonitorBankRates.com has a comparison tool you can use to start your search for the best auto insurance rates from insurance companies in your zip code. Compare auto insurance Rates Here

Auto Insurance

Getting the bare minimum amount of coverage isn’t recommended. You will be liable for any property damage and medical expenses beyond the auto insurance coverage you have if the accident is your fault. You can and probably will be sued if you don’t have enough insurance coverage.

That being said, we definitely recommend getting the most coverage you can afford. Yes, your auto insurance premiums will be higher but at least you will be able to sleep at night knowing you are adequately insured.

You should also consider additional auto insurance coverage. Insurance companies must also offer the following types of coverage with your automobile insurance policy. 

Uninsured and Underinsured Coverage

Uninsured and Underinsured motorist coverage is a must. This type of car insurance provides liability insurance when the other driver does not have the required minimum liability coverage. This will also cover you if the other driver’s auto insurance coverage is insufficient to cover the injuries you sustained in an accident and if the other driver doesn’t have insurance.

Some auto insurance companies will also offer the following optional coverages. Payments for Medical, provides for the payment of medical and similar expenses without regard for liability. 

Collision Insurance and Comprehensive Insurance

Physical Damage, collision and comprehensive.  Collision covers damage to your auto caused by collision with another vehicle or with any other object, regardless of fault.

Collision car insurance also covers you when a vehicle overturns, but does not cover bodily injury or property damage liability. Comprehensive coverage covers damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, vandalism, etc. 

Auto Insurance Riders

Auto insurance riders for after-market additions on your car like special tires, rims and sound systems. Coverage for towing and rental reimbursement especially if you only have one vehicle.

MonitorBankRates.com has a comparison tool you can use to start your search for the best auto insurance rates from insurance companies in your zip code.

Compare auto insurance rates

The U.S. Governement’s cash for clunkers program officially known as the Car Allowance Rebate System has already run out of money six days after it began. The program was supposed to run until November 1st, 2009  if the funds didn’t run out. No one expected the program to be this popular and deplete the program’s funds in less than one week.

The cash for clunkers program gives a purchaser or leaser of a vehicle a  credit of either $3,500 or $4,500, depending on the type of vehicle  purchased and the difference in fuel economy between the purchased vehicle and the trade-in vehicle.

I believe the program should be expanded by billions! Anything that is getting folks out buying big ticket items to help the economy, the automobile industry and the environment should be kept going.

Another bit of good news is all valid transactions that have occured so far under the Car Allowance Rebate System will be honored. Debbie Stabenow, a Senator from Michigan, is asking Congress and the Obama Administration to provide more funding for the program.

Getting a new car? Check Auto insurance rates for the new car or SUV you are planning on buying or leasing. Just enter your zip and find a listing of auto insurance companies offering auto insurance coverage in your area.  Check Auto Insurance Rates Here

Buying a car is the biggest financial purchase you can make beside buying a home. Most people finance their purchase to be able to afford a car. Unfortuately most people also just get an auto loan through the dealer without shopping for auto loans, which isn’t the best way to obtain financing.

Before you walk into a car dealer showroom, you should contact lenders directly. Most major banks if not all offer auto financing for both new car purchases and used car purchases. Some banks also offer auto loans to buy a car directly from an individual.

Arming yourself with current auto finance rates will also give you the ability to better negoiate with car dealers. Most dealers are offering great terms and deals on cars these days so it’s quite possible the dealer can give you a better rate, you might also qualify for a zero percent rate.

Each type of vehicle will also have different insurance premiums so check auto insurance rates for the vehicle you are planning on buying or leasing. You can find auto insurance companies offering auto insurance in your zip code by using MonitorBankRates.com insurance search engine.

Find Auto Insurance Companies in Your Zip Code Here

Create a worksheet to compare auto financing options and auto finance rates each banks offer. Rates are low these days - Pentagon Federal Credit Union is currently offering a rate of 3.99 percent for an auto loan up to 60 months. When comparing auto loans be sure to compare apples to apples, compare the annual percentage rate (APR) and the length of the car loan. Longer term loans will have higher interest rates.

In case you haven’t heard, there is a Federal Government program called the Car Allowance Rebate System (CARS) which will give rebates up to $4,500 for purchasing a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle.

The car tax rebate system (Car Allowance Rebate System) is a government sponsored program and will give you a tax credit for purchasing a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle.

The CARS Act makes purchases and leasing on and after July 1 potentially eligible for the rebate. All the program details have not been figured out yet, so you might want to wait until a final rule on the program is issued around July 24, 2009. The CARS program runs until November 1, 2009 or when the fund runs out so you might want to look into this program sooner than later.

Getting a new car? Check Auto insurance rates for the new car or SUV you are planning on buying or leasing. Just enter your zip and find a listing of auto insurance companies offering auto insurance coverage in your area.  Check Auto Insurance Rates Here

The amount of the credit is either $3,500 or $4,500, depending on the type of vehicle you purchase and the difference in fuel economy between the purchased vehicle and the trade-in vehicle.

You don’t need a voucher for this program, the dealer you buy the new car from will deduct the tax credit from the purchase price of the vehicle. The dealer has to be registered for this program in order for you to get the tax rebate.

Only new vehicle purchases are eligible and leased vehicles providing that the lease period is at least five years, used vehicle purchases are not eligible. There is also a cap on the new vehicle price of $45,000. The new vehicle can be a domestic vehicle or an imported vehicle.

Also to be eligible your current vehicle must be less than 25 years old on the trade in date, must have been manufactured not later than model year 2001  and your car must get 18 or less miles per gallon. Some very large pick-up trucks and cargo vans have different requirements.

Here is a big gotcha - your trade-in vehicle must be registered and continuously have auto insurance coverage for the prior year to the trade-in date. You can’t buy a $500 clunker and expect to get a $3,500 or $4,500 credit. Your trade-in vehicle must also be destroyed, which lowers the estimated value to scrap value.

The credit does not count as income for the purchaser so you don’t have to pay tax on the credit you receive. The dealer will pay the tax. The dealer is also prohibited from charging you any kind of extra fees if receive a tax credit for purchasing a new vehicle.

The National Highway Traffic Safety Administration (NHTSA) has created a website that can help you better understand the CARS act and to see if you’re eligible.

Another consideration you keep in mind when shopping for a new auto is finding the best auto insurance rates. This task has also been made similar by sites that compare auto insurance rates. You can start your search right here, MonitorBankRates.com has an auto insurance tool that allows you to compare auto insurance rates in your zip code.

Auto Insurance Comparison Tool

Update: July 24, 2009.

The final rule on the CARS Program, formally referred to Cash for Clunkers as been issued. Here are some examples of vehicles eligible for the voucher of either $3,500 or $4,500.

In a transaction involving a trade-in vehicle that is a passenger automobile, a category 1 truck, or a category 2 truck and a new vehicle that is a passenger automobile, if the new vehicle has a combined fuel economy that is 4 to 9 miles per gallon higher than the trade in vehicle, the credit is $3,500.

If the new vehicle has a combined fuel economy that is at
least 10 miles per gallon higher than the trade-in vehicle, the credit is $4,500.

If the transaction involves a trade-in vehicle that is a passenger automobile, a category 1 truck, or a category 2 truck and a new vehicle that is a category 1 truck each meeting the eligibility criteria, a gain of 2 to 4 miles per gallon results in a credit of $3,500; a gain of at least 5 miles per gallon results in a credit of $4,500.

In the case of a new category 2 or category 3 truck, the trade-in vehicle categories are different. For a new category 2 truck, the trade-in vehicle must be a category 2 or a category 3 truck. If the transaction involves two category 2 trucks each meeting the 36 eligibility criteria, a gain of 1 mile per gallon results in a credit of $3,500; a gain of at least 2 miles per gallon results in a credit of $4,500. A category 3 truck that is traded in for a new category 2 truck is entitled to a $3,500 credit, without fuel economy restriction.

Category 3 trucks are not rated for fuel economy by EPA. A category 3 truck that is traded in for another category 3 truck is entitled to a $3,500 credit if the new vehicle is “smaller or similar in size.”

Here are the truck categories

A category 1 truck is a non passenger automobile. This category includes sport utility vehicles (SUVs), small and medium pickup trucks and small and medium passenger and cargo vans.

A category 2 truck is a large van or a large pickup truck, based upon the length of the wheelbase (more than 115 inches for pickup trucks and more than 124 inches for vans). Note: some pickup trucks and cargo vans exceeding these thresholds are treated as category 3 trucks instead of category 2 trucks.

A category 3 truck is a work truck and is rated between 8,500 and 10,000 pounds gross vehicle weight. This category includes very large pickup trucks (those with cargo beds 72 inches or more in length) and very large cargo vans.