Category Archives: Auto

Nearly every household in Illinois and Wisconsin has access to a car or light truck. But that doesn’t make every adult a car owner. About a quarter of U.S. drivers lease instead of buy, a figure that has gone up a few points over the last year alone.

As for whether to lease or own, the choice is entirely up to you. Making the right decision requires exploring the long-term costs – and potential financial risks – to determine what it would mean for your wallet, as well as your personal driving needs.

Auto Leasing is Growing – But Less Popular in the Midwest

Some people prefer taking on less of a permanent commitment when it comes to their vehicle. After all, car ownership is a big responsibility. A new vehicle will set you back on average $48,000, according to MoneyGeek, and who has that kind of cash lying around? Still, leasing is slightly less common here in the Midwest, maybe due to our long winters and rough terrain – or just our appetite for long, scenic drives.

When Is Car Ownership Necessary?

The main distinction between owning and leasing a car is that once you buy one, it is entirely yours. This gives you a certain kind of freedom that you might not otherwise have:

1. What auto insurance to get
2. Where to take it
3. How many miles to put on the odometer
4. Whether to sell it, and to whom
5. How to soup it up

Leasing only gives you temporary ownership, and with some strings attached in terms of destinations and distances. While ownership is not usually necessary, it is usually the preferred option for people with a long-term vision of having a vehicle that they can afford.

Leasing Agreements Have Terms You May Not Like

If you are considering leasing a vehicle, take a close look at the terms and conditions in your lease agreement. Someone else will be calling shots such as who will be responsible for repairs and maintenance. What kind of wear and tear clause does it contain? When the lease is up, the dealer could charge you for the cost of upgrading the brake pads or replacing the tires if that’s what your agreement dictates.

Have someone you trust comb through the contract with you to ensure you understand every detail before signing anything. That will give you time to ask questions and more leeway for negotiating better terms if anything appears unfair or simply unfavorable to you.

Cost Considerations Before Buying a Car

Car shoppers tend to look first and foremost at the monthly payments they will need to make to access a set of wheels. Instead of going with whatever is cheaper, take a longer-term look at the costs and financial responsibility you will have in the coming months or years. Considerations that might inform your decision:

1. The full cost of the vehicle, including auto registration fees and taxes. Car payments today can average well over $700/month – less for used and leased vehicles.
2. The amortization factor. How much of your initial monthly payments will go toward the interest on your loan? Find out if any additional payments you make can go toward the principal on the loan instead. Since interest is typically based on the principal, doing so could lower the dollar amount you pay over time.
3. Are any terms subject to change? You will want to discern whether they could become less favorable in the future.
4. What will the cost of insurance be – and how much would it go up?

Do your research so that whatever decision you make is an informed one!

Leasing as a Short-Term Solution

There are a few reasons you or your family might prefer the temporary status of a leased car. If your spouse’s job requires driving for just a few months at a time in a different state, leasing might be a much more pragmatic solution. Other factors that might make leasing appealing:

• Vehicles tend to be newer and therefore more reliable.
• Lower monthly payments could make driving a more expensive car possible.
• Maintenance on newer cars might be less overall.
• There won’t be pressure to sell it.

Let CFSC Auto Services in Illinois & Wisconsin Handle Your Car Needs

Whatever you drive, be sure to have CFSC help you register it properly so you can get your new plates! There will be other routine auto-related tasks, and our CFSC Auto Services in Illinois and Wisconsin are happy to help! We can even replace a lost or stolen license plate or sticker if you need one.

Visit your nearby CFSC Auto Services for more information on our financial and auto services!

It is very disconcerting to come back to your parking spot only to find it empty – or occupied by a different vehicle. It can take a few minutes for the realization to set in that your car was stolen. And if you’ve never experienced this particular misfortune, you might not know exactly what to do.

Ideally, you will never need to use the tips below. However, over a million vehicles were stolen in 2023, according to MarketWatch, and the number has only gone up in recent years. Knowing what to do in this kind of situation will help you remain calm as you follow the proper steps, and possibly save you time, as well.

Make Sure Your Vehicle Was Stolen

No one wants to admit it, but many of us have returned to a spot where we could have sworn we left our car, only to find it one street over or on a different parking level. It never hurts to double check that your car is indeed missing, especially at night where visibility might be limited. You might be pleasantly surprised when you discover you parked somewhere else.

Contact the Police and Report Your Vehicle Missing

Generally, 311 is appropriate to call unless violence was involved or you are in physical danger. If you call the police, they will record your personal information and enter your license plate along with the make and model into a scanner system, where that information will be shared with a network of officers. That makes it easier for law enforcement to keep an eye out for suspicious activity and track down a vehicle that was recently stolen. Your auto information will be included with a list of other stolen vehicles in case it turns up later on.

Consider Filing a Police Report Online

Don’t want to deal with phone calls? You can probably file a police report online. It shouldn’t take long. Here’s what the process is like in the city of Chicago:

1. Log onto your local police department’s crime reporting website to get started.
2. You will be directed to a list of crimes from which you will select auto theft.
3. On a different page, you will need to enter all of the pertinent information related to your case.
4. In addition to a vehicle description, you will be asked to provide details including the time, location, and anything else you think might help police locate your vehicle.
5. Double check everything before submitting the report, as it may be difficult to enter the system and make changes after the fact.
6. You should get a confirmation via email or text for future reference. Keep this for insurance purposes.

If Helpful, Take a Pic or Record Any Details That May Be Important to Your Case

It may be helpful to take a photo of the location in case you get home and forget precisely where your car was parked. If there are any other details that may be relevant to your case, take notes or photos that you can hold on to for future reference.

File an Insurance Claim

Vehicles must be insured to be driven legally, and you should file an insurance claim as soon as possible if your car has been stolen. What happens next will depend on the details of your insurance plan. Comprehensive coverage will generally reimburse you for the value of the missing vehicle in cases of theft. As long as you have filed an official report and meet the proper criteria, it is common to get reimbursed from the insurance company after 45 days or so.

However, if the vehicle is then found what happens next might vary, particularly if you have already surrendered your title. Ask your provider what happens in this scenario. If your car is found, you may need to notify the insurance company, at which point the vehicle may be your insurer’s legal property.

Visit Your CFSC Currency Exchange for License Plates & Other Auto Services

If your car has been stolen, hope is not lost! The odds are decent that it might eventually be found.

If you have to replace a lost or stolen license plate or plate sticker, swing by one of the many CFSC Auto Services in Illinois and Wisconsin only, so you can have it done quickly and easily. An assistant will be able to answer any questions you have about what to expect. Always call first to double check store hours, fees, and to make sure you are bringing the proper documentation.

Want a fast and convenient way to take care of numerous vehicle and financial services under one roof? At your nearest CFSC Auto location* you can do just that.

*Auto services available only in Illinois and Wisconsin.

You don’t have to head to the DMV anymore to update your license plate stickers, a fact that might surprise a lot of people. And depending on where you live, the DMV may not even be an option anymore.

Since this simple but necessary renewal process can be done easily at the nearest CFSC Auto Services location, it does beg the question: why do so many people let their plates expire?

Some People Don’t Know Where to Get Their License Plate Tags

One complication in recent years points to a bigger picture. It may have been a long time since you’ve been to the DMV or some other official office to handle auto-related tasks, and it can be hard to remember where to get each thing done. Things are changing. Smog check locations are closing, making those options more limited than before. This goes for other car-related processes, which can make it confusing for those who wish to stay on top of all the rules and regulations.

To Avoid Illinois License Plate Renewal Fees

Sometimes avoidance is intentional. It currently costs $151 to renew your Illinois license plate. This money helps fund statewide infrastructure programs. But the law is clear, and avoidance may end up costing you in late fees on top of the renewal fee.

State of Illinois Is Eliminating Some In-Person DMV Locations

The Illinois Secretary of State is planning to eliminate most in-person visits where folks could otherwise update their license plates and handle other necessary tasks. The upside is that fewer people will have to wait in long lines, when they could much more quickly and easily get their tags at CFSC Auto Services without all the waiting. These kinds of changes can take you by surprise and cause delays in getting your new tags.

People Are Unaware of the Financial Penalties of Driving With Outdated Tags

We all know what it’s like to put off the inevitable. Weeks turn into months. I’ll take care of it tomorrow, we tell ourselves, forgetting about the fines we might incur. But it’s much easier to remedy the situation than risking a ticket that comes with a penalty of $90.

You Have the Sticker But Haven’t Attached It Yet

These may be the saddest cases of all. Your tag has arrived in the mail, and there they sit on the counter or in your glove compartment, waiting to be attached to the license plate on the back of your car. This requires removing the previous one and cleaning the space where the new one will go – a process that should take just a few minutes. Don’t let this mild inconvenience stall you from taking that simple step. It is simply not worth the hassle of a ticket, or losing or misplacing the tag and having to get a new one.

Some Drivers Can Avoid Penalties by Arguing Their Ticket in an Illinois Court

There is often a grace period of up to 30 days when it comes to replacing tags and city stickers in Illinois, but that won’t necessarily keep you from getting a ticket if you’re pulled over within the grace period. Some municipalities may give you a parking ticket for expired plates, even in privately owned parking lots. A hearing officer for those tickets can choose not to dismiss the offense, and then it will be up to a court to make a decision. Again – not worth the hassle.

CFSC Auto Services

At any nearby CFSC location, you can take care of a number of other auto-related tasks all at once. Make sure your title, license and registration, and city stickers are in order all at once so you stay on the safe side of the law.

Don’t risk getting a ticket! Stop by your nearest CFSC location today to make sure all your car stuff is up to snuff.

If you drive at all, you are probably looking for ways to save money on gas. It’s just one more reason not to ignore your routine maintenance. Getting a fuel-efficient vehicle can certainly help you spend less at the pump. There is a difference of up to $2,000 per year in how much drivers pay for gas on average, and it’s not just the drivers of compacts who are saving.

However, taking good care of your car, truck or motorcycle also has a significant effect on its fuel economy. What routine maintenance is most associated with better mileage?

Tip 1: Check Tire Pressure Before Those Long Midwestern Drives This Fall

It is said that for each 1 psi (pounds per square inch) your tires lose, your gas mileage will decline by 0.1 percent. Yet it’s easy to overlook this rule of thumb, and not just because math is involved. We simply don’t always feel the gradual loss of air. But filling your tires per the instructions for your specific vehicle directly impacts how much you will spend due to many factors:

• Improved mileage
• Tread maintenance
• Performance while on the road
• Preservation of your tires
• Better ability to stop and accelerate properly

Check inside the drivers side door or your owners manual for the correct tire pressure for both front and back tires, as they may differ.

You may need to fill your tires more in the coming months (about once/month is usually recommended). As fall approaches, so does cooler air. According to Car and Driver, car tires lose or gain roughly a pound of pressure with every ten degrees of fluctuation in temperature. Keep an eye on your thermostat as temperatures drop and fill your tires as needed.

Tip 2: Pay Attention to Warning Lights on Your Dashboard

Engine problems can cause a vehicle to start using more gas than usual, as well. Fortunately, modern vehicles let us know something is wrong through dashboard alerts. For example, the oxygen sensor controls your car’s fuel injection system and can therefore have a big impact on your gas mileage. While this part doesn’t get a lot of attention, a defective sensor can take a toll in many ways, from your ability to accelerate properly to emissions problems.

A check engine light or any other dashboard warning light should be taken seriously. Since each car is different, refer to your manual or a trusted mechanic for additional tips on how to maintain your vehicle and get the best gas mileage possible.

Tip 3: Use the Recommended Oil in Your Oil Changes

Not only is it wise to change your oil regularly to upkeep your engine, but the kind of oil you use can also have a lasting impact on the health of your vehicle. That’s because the oil plays an important role in lubricating the various components of your engine, which in turn helps you maintain optimal fuel efficiency. When low quality oil is used or the oil becomes contaminated, that can lead to a range of problems. It can slow down engine parts, forcing the engine to work harder and ultimately lowering your fuel efficiency.

Tip 4: CFSC Auto Services Helps You Address Your Auto Needs & Save Money

There are other ways people can overspend on car ownership, and that includes failing to renew or replace license plates, update stickers, and register their vehicle properly and on time. Here at CFSC Auto Services, we are happy to help you out in all of these areas so you can avoid tickets and penalties while out on the road. We figure, why stand in line at the DMV or some government building when you can just swing by and get the help you need in minutes.

Give us a call today, stop by your nearest CFSC location, or check out CFSC Auto Services online to find out more about our broad range of auto and financial services!