Category Archives: Auto

Car shopping can be as overwhelming as it is exciting, especially when it’s your first time. There is a lot to learn, to say the least. Taking a realistic look at the car buying process will inform you about how to narrow down what you’re looking for – and avoid an impulse purchase that won’t be pragmatic or affordable in the long run.

Would you rather buy through a private seller or an established dealership? Do you have a preference for new or used vehicles? The process will be slightly different depending on these and other factors. Take your time doing a proper search and you’re more likely to be happy with the results.

Determine How Much You Can Afford

Do you have a certain amount of money saved up for your new set of wheels? You’ll need to do a bit of math to see how much that dollar amount translates to the sticker price you can afford. For example, it’s necessary to consider the added financial cost of a few other things:

• Sales tax
• Auto insurance
• Updated title and registration
• Routine maintenance
• Gas

Not only do these expenses add up, but there may be unexpected items such as necessary repairs. To be on the safe side, set aside some of your funds so that you’re making a purchase you can realistically afford over time.

Figure Out What Type of Vehicle You Want

There are dozens of car models and brands to choose from. So how do you know which one is right for you? Since everyone has unique desires and expectations out of a vehicle, this is one area where each buyer must put in a little time and research to figure out which model will match their needs.

To get started, narrow down the type of vehicle you would consider:

• Compact
• Sedan
• Sports utility vehicle (SUV)
• Truck
• Hatchback
• Hybrid or electric vehicle (EV)

Do you transport equipment for work or prefer something smaller for better mileage and easier parking? Families with children often opt for something with a bit more space in back, but someone on a budget can save money by getting a fuel-efficient vehicle or an EV.

Apply for a Loan

Perhaps the most complex aspect of car shopping is determining how to finance the vehicle. Most people who buy a car must apply for a loan. This involves a financial contract that spells out the conditions for paying it back. There are several steps in the process, which often include:

1. Determining your budget
2. Prequalifying for loans
3. Applying through multiple vendors
4. Being accepted for a loan
5. Selecting favorable loan terms

Take some time to figure out the process and you’ll become a pro in no time. Bankrate outlines auto loan rates for both new and used vehicles to help first-time buyers. Other online resources such as Investopedia break down the financing process in simple terms so that inexperienced buyers can make more informed decisions.

Read Contracts Carefully, Negotiate Prices & Take Your Time Making a Purchase

It’s important to test drive any car you’re considering buying, so shoppers should know what to look for while taking each vehicle out for a spin. And don’t ever sign a contract out of pressure. It’s crucial to understand the details of a given contract before making a commitment.

Finally, it’s common practice to negotiate a better deal. Be prepared to ask for a lower price, and know what you’re willing or not willing to pay. You can take an offer home with you and have a more experienced person help you look it over to ensure the terms are favorable to you.

Get Help with New Car Title, Registration and Other Needs at CFSC Auto Services

Once you’ve purchased your dream car, there are a few remaining tasks to take care of. Let CFSC Auto Services help you get it registered so that you don’t risk getting a ticket. We can help with a whole range of items:

1. Get your license plates
2. Replace stolen or lost stickers
3. Transfer your plates
4. Take care of other auto-related needs

Stop by your nearest CFSC location to find out more about our convenience financial services today!

There are over 51 million cyclists in the U.S., according to Statista. Given those high numbers, it’s crucial for drivers to understand how to share the road with them safely and legally. Despite their differences, cyclists have many of the same rights as motor vehicles. Sharing the road responsibly with one another helps everyone coexist more safely.

As biking grows in popularity, it’s a good time to review some basic safety measures that all drivers should follow.

Here’s What Illinois Says About Driving Near Cyclists. What Are the Laws in Your Area?

Sharing the road can be confusing for drivers, particularly in crowded areas with limited space and either no no bike lanes or ones that aren’t well-marked. That’s why it’s important to know what the rules are in your neck of the woods – and you can usually locate them online.

Illinois, for example, posts these safety rules for drivers, cyclists, and pedestrians sharing roadways:

• When passing a bike, drivers should proceed slowly and cautiously.
• If a cyclist is biking in front of you, you must yield the right-of-way as you would with a car.
• Drivers are expected to leave at least three feet of space when passing.
• Crowding or threatening someone riding a bike is prohibited.
• A motorist should not park or drive in marked bicycle lanes.
• Drivers should wait before turning left when a cyclist is approaching from the opposite direction, just as they wait for drivers to pass.

Careful Opening Your Car Door

Accidents can occur when doors of parked cars open without giving the cyclist time to adjust. Doing so can hit them or cause them to swerve into traffic. Always check your side mirrors before opening your door, and ask any passengers to check the road carefully before opening theirs.

Never Drive Under the Influence of Alcohol

Even a small amount of alcohol can impair your judgment when behind the wheel of a car, and drinking raises your risk of getting in any type of accident. Thousands of cyclists get in an accident each year. The CDC reports that “about one-third of crashes that result in a bicyclist’s death involve alcohol for the motor vehicle driver and/or bicyclist.”

Intersections Pose More Risks

Car accidents that lead to bicyclist deaths are more common in intersections. The added traffic can make it difficult to see cyclists and decelerate in time to avoid them. Trucks and longer vehicles may also pose additional risks when turning corners.

Next time you approach an intersection, be extra cautious in case there are any cyclists nearby. Look carefully for people riding bikes before turning right or left, take care when merging into bike lanes, and always respect the right of way of cyclists.

What Are Some Other Common Safety Measures That Drivers Should Know?

No one wants to get in an accident, but some drivers may need to adjust their mindset in order to share the road with cyclists and slow down for their safety. Here are three safety measures to keep in mind next time you’re behind the wheel of a car:

1. Avoid attempting to pass cyclists on narrow lanes, especially if you lack visibility or other factors make passing risky.
2. Be aware that a pothole or debris in the street could cause a cyclist to swerve into traffic, and reduce your speed accordingly.
3. Take extra care around children on bikes.

In some situations, making eye contact lets riders know that they are seen and can proceed ahead.

CFSC Auto Services Helps Drivers Take Care of Routine Auto-Related Needs

There’s a lot to think about when it comes to being a responsible driver. CFSC Auto Services can take some of that load off your plate by helping ensure that your plates and stickers are up to date. We can also help you through the process if either of those things is lost or stolen, or you need to transfer your plates or vice versa.

Come by and check out what else we can do for you at your nearest CFSC location. There is a long list of financial services we will handle for you, as well, all under one roof. Check out CFSC Auto Services online to find out more!

If you’ve been paying attention to the news over the last decade or so, you may have heard about changing fuel standards for vehicles. As a driver, this term can be a bit confusing as it isn’t really aimed at us at all. But if you’re out shopping for a new car (or eyeing great deals on used ones), fuel efficiency may well entice you to opt for one vehicle over another.

The ticket price, while important, is just one factor in the overall cost of owning a vehicle today. There are many other costs to consider, as well:

• Plates, stickers, registration and other fees (see below)
• Gas prices
• Auto insurance costs
• Loan terms
• Maintenance costs
• Projected repairs
• Unanticipated events (such as an accident)

It’s hard to anticipate how all of those costs will play out in the years ahead. But fuel standards have one side benefit: they can ultimately help you spend less on gas in the long haul.

What Are Fuel Standards for Vehicles in the U.S.?

The US has created and partially enforced fuel standards for vehicles for decades. The regulations are among the reasons that sport utility vehicles (SUVs) became commonplace. They are generally larger, heavier and higher off the ground than other cars. There’s a reason these vehicles are sometimes referred to as “trucks.” They were designed in part as a way to create a new category of vehicle and skirt fuel standards for traditional cars.

But as standards change over the years, they’re effectively forcing automakers to design cars that will accomplish new goals in fuel efficiency. Even light trucks are coming in electric and hybrid models, as well as more efficient designs overall.

Fuel Efficiency, SUVs, Climate Change and Environmental Concerns

Fuel efficiency became a more widespread concern as people began discussing climate change and the impact of emissions on the environment. That’s why you may have noticed our government getting involved and attempting to make standards tighter still. Rules and protecting what new cars and trucks must be able to achieve decades from now – even though the technology may not currently be able to achieve this mileage.

Of course, the rules are adjustable. They change with the times and act more as an incentive to automakers than anything else. But they also signal to the public that cultural standards are changing as our car-centric society evolves.

New Cars’ Miles Per Gallon Rising with Tighter Standards

How many miles per gallon do you get? In 1980 it was normal for a car to get just 20 miles per gallon. But as technology changes, cars are becoming more fuel efficient and are therefore able to travel farther on less gas. This helps cut down on the level of greenhouse gasses in the atmosphere, provided people aren’t driving more miles overall.

Your favorite gas guzzler may go off the market, but you can still drive it legally. And as for new models, standards are only an average. Those with 70 MPG will offset ones that operate on a much lower figure.

Rising Interest Rates on New and Used Car Loans

There’s another reason that better fuel efficiency might matter to people today. In the end, it helps cut down on the money folks spend to fuel up – leaving you with more dollars to help pay off your auto loan.

This matters more than ever, as a growing number of drivers are defaulting on new-car loans. The Wall Street Journal recently reported that the average interest rate on a loan for a new car is 9.5% – and over 13.7% for a used one. This is the highest rate the country has seen in years.

CFSC Auto Services Helps Drivers Take Care of Routine Auto-Related Needs

While a handful of states have passed their own stricter fuel standards, most of the Midwest has yet to catch up. But efficiency is often up to the buyer. What isn’t are a number of car-related tasks that can be accomplished by simply heading to a CFSC Auto Service near you:

1. Vehicle registration
2. License plate renewals
3. License plate transfers
4. Replacing stolen or lost stickers

When you stop by your nearest CFSC location, we will help you get these tasks taken care of quickly so you can get back to driving legally and safely. While you’re here, tend to important financial services like check cashing, money wiring and electronic bill payment. Check out CFSC Auto Services online to find out more!

Millions of people get in a car accident each year. While it’s not something anyone wants to think about, most drivers experience at least a minor incident at some point in their lifetime.

Accidents can be a highly stressful experience for a variety of reasons. Even if no one is injured, it can still be difficult to think calmly about the proper steps to take next. Therefore, it’s good to be familiar with what actions might follow in case you need this information someday.

What actions should you take if you have been in a car crash?

Taking a few minutes to review the Illinois State Bar Association website (or one pertaining to the state you live in) will cover the basics that every driver should know.

Generally speaking, someone who has been in any car accident involving damages – whether to property or a person – has a legal obligation to report the incident to the police. If there are multiple drivers, they should exchange their:

• Name
• Address
• Vehicle registration number

Get police and any necessary medical assistance ASAP.

Local police will want to know precisely what happened. A few things for drivers to remember:

1. Get the officer’s name.
2. Get their contact information.
3. Follow any instructions they give you.
4. Inquire about getting a copy of the police report.

Were there witnesses?

Even without injuries, people can be pretty shaken up after a fender bender, let alone something more serious. If possible, try to get the contact information of anyone who witnessed the accident. Their account of what happened might come in handy later on.

Contact your auto insurance provider.

Your auto insurance company will need to know about the accident in order to take the appropriate steps. Therefore, contact them when you are able. For more information on what may happen next, you can check out the “Conditions” or “Duties After Loss” section of your insurance policy. The Illinois Department of Insurance might have some answers to your questions posted online.

Should you give a statement to the insurer of the other driver?

This can get a little tricky. Whether you should give a statement to the other party’s insurance carrier depends on who you ask. You may want to first consult with a lawyer as well as your insurance provider if there is a request for a statement from you.

Legally, drivers must carry auto insurance in Illinois and elsewhere.

In Illinois and other states, the law dictates that vehicles must be registered and operated there to be covered by liability insurance. This type of insurance typically covers a range of expenses related to car accidents. It can cover different types of costs that may be incurred following an accident:

• Bodily injury coverage
• Property damage coverage
• Collision coverage
• Medical payments coverage

You may want to speak to an agent to get the right coverage for your family’s needs.

What actions might your insurance company take if a claim is filed against you?

What if a claim or lawsuit is brought against you due to a car crash you caused? An insurance policy’s liability coverage might do one of two things, depending on the situation. According to the Illinois Bar Association, the insurance company can typically pay for a lawyer to defend the insurance holder. Any property damage or injury to others caused by your actions as a driver should be covered up to the maximum policy limits. Extra coverage may also kick in.

If the other driver was at fault, you might be advised to file a claim against them.

What if the other driver’s insurance isn’t enough to compensate for your damages?

Sometimes the minimum uninsured motorist coverage isn’t enough to compensate for damages caused by a driver’s carelessness. If this is the case, your own insurance may kick in to cover the difference between the two policies.

Take care of routine car needs at CFSC Auto Services.

Hopefully you will never be involved in an accident. But should it happen, it can be a big relief knowing that you took care of routine auto-related tasks properly and promptly. At CFSC Auto Service throughout the Midwest, we will handle a number of these for you:

• Title and registration
• License plate renewals
• Replacing lost or stolen plates or stickers
• License plate transfers

When you stop by your nearest CFSC location, we can handle all of these tasks quickly and efficiently, as well assist with many other financial services – all under one roof! Check out CFSC Auto Services online to find out more!