Category Archives: Auto

If you drive anywhere in the Midwest, there’s a lot to know about what insurance will best cover your needs. Sorting through all the options can get overwhelming, leading some people to delay getting insurance. However, every driver must be insured – for a number of reasons. Getting clear on the basics will help you get clear on your options.

Once you have proper coverage, it’s also important to know when your coverage might kick in. Understanding the basics will remove some of the stress around insurance and help you tap into your coverage should you ever need it.

Do You Have to Carry Liability Insurance & Other Auto Insurance in Illinois?

Certain types of car insurance are mandatory. Others are optional. The first thing you should know is that it is generally illegal to operate, register, or maintain the registration of a motor vehicle without liability insurance. Policies must offer a certain amount of uninsured motorist (UM) and underinsured motorist (UIM) bodily injury coverage. However, you can opt to buy a higher UM and UIM limit to cover claims that surpass the minimal coverage.

What Types of Coverage Should You Get?

Automobile insurance policies typically offer a number of types of coverage. For example, liability coverage to protect against financial losses incurred due to an accident caused by the policyholder’s negligence while operating a vehicle. This generally includes:

• Bodily injury coverage to cover associated costs with injuries or death to another person in the accident
• Property damage coverage for the damage of someone else’s car or property, such as a fence, building, sign, or tree.
• For an extra cost, physical damage coverage for one’s own vehicle can be purchased, which is divided into two types:
• Collision coverage for damage caused by colliding with another car or object
• Comprehensive coverage for damage resulting from events other than collisions, such as hail, vandalism, or theft.
• Finally, medical payments coverage allows for medical or funeral costs if you or any passenger in your car are injured or killed in an accident, regardless of fault.

Because there are so many types – as well as reasons to have them – speak to an agent to be sure you’re getting the right coverage for your needs.

How Much Insurance Should You have?

Your “Declarations” page should list all of the types of coverage you have purchased and their respective limits. It is a good idea to have a conversation with your insurance agent to make sure you have an adequate amount of coverage and to review your policy at least once a year. It is recommended to have liability limits that are sufficient to protect your finances in the event of a lawsuit.

According to the Illinois State Bar Association, an “umbrella” policy is a wise consideration to provide extra protection in the event of a major accident. Here’s what they say about it:

1. This type of supplemental insurance provides additional coverage on top of your existing liability limits, usually in increments of one million dollars, for a low premium.
2. Insufficient liability coverage may leave your personal assets vulnerable to a potential judgment if you are sued.
3. Your insurance company will not be held responsible for any amount that exceeds the liability limits of your policy.

When it comes to Uninsured Motorist (UM) and Underinsured Motorist (UIM) coverage, it is also recommended that your policy limits cover:

1. All of your medical costs
2. Any income lost due to injury-related disability
3. Compensation for any damages you would have received from the at-fault driver had they had full coverage for all losses.

Take Care of Title, Registration, Plates & Stickers at CFSC Auto Services

There’s a lot to know when shopping for auto insurance. It’s always a good idea to ask enough questions to end up with the right formula for you or your family’s circumstances. Once you’re covered, don’t forget to take care of all your other legal obligations at one of the CFSC Auto Services throughout the Midwest! These include:

• Title and registration
• Lost or stolen stickers
• Sticker renewal
• License plate transfers

Getting these tasks done properly and on time can help you avoid expensive fines later on!

Skip unnecessary trips to the DMV. When you stop by your nearest CFSC location, we can do the work for you and also help out with your other financial services. Our flexible schedule makes it easy to swing by at your convenience. Check out CFSC Auto Services online to find out more!

Imagine driving off with a brand new set of wheels, dealership in the rear view mirror. Then to your dismay, you discover your financing has fallen through days or weeks later.

This situation is known as a “yo yo” car deal. It occurs when dealerships give customers the impression that their auto financing is set and they can take the car home. In reality, though, the financing paperwork hasn’t been completed, putting the driver’s ownership and payment terms at stake.

Protections against shady financing trends are lacking in some areas, leaving it up to consumers to shop wisely and avoid falling prey to this practice.

What Is a Yo Yo Auto Loan – a.k.a. Spot Delivery?

Even reliable car dealers like to close sales ASAP. But some dealerships will pressure folks into accepting a deal with insufficient paperwork, letting them drive off in a new car before financing is secured. In most cases, the consumer believes the deal has been sealed. But the dealer may choose to cancel the sale or attempt to renegotiate after the fact.

This situation is referred to as a “yo yo” car deal, sometimes also called a spot delivery. The driver may get stuck with worse conditions than they thought, or they might lose the car altogether.

4 Ways to Avoid Yo Yo Auto Financing

Fortunately, there are several steps that will help protect you during your search. Before visiting any dealerships, check out Bankrate’s advice on how to avoid getting misled by this type of deal while car shopping.

1. Don’t agree to an auto loan until you are ready. When you’re both eager and in need of a vehicle of your own, your patience may start to wane. But how you finance it will have lasting effects. One way to sidestep this conundrum is to line up financing to pay for it in advance. That will give you time to review every detail without the pressure of a salesperson.
2. Read – and understand – the fine print. When it comes to financing contracts, the devil is in the details. Be sure you understand any conditions and what they mean for you. A second pair of eyes by someone familiar with legal contracts can help in this area. Make a list of questions of any rates or terms you don’t fully understand, and don’t make a purchase until you are satisfied you have a full picture of the financing terms.
3. Refuse to accept excessive or unnecessary charges. Look for any additional charges added to the final loan amount. Some buyers don’t realize these can result in higher payments. Also, be sure to get a complete copy of the final paperwork before signing anything.
4. Walk away from anything that raises suspicions. View the car shopping experience as an education. It’s best to be prepared mentally to walk away before even entering a dealership, if necessary, and for any reason. Take your time and learn from each discussion and test drive.

By the time you make a purchase you will be a pro at asking the right questions and possibly negotiating terms to get a better deal.

Check Your Local Laws for Protections

Before passing a law to protect consumers against unscrupulous car sales, the state of Maryland had received many complaints from unsuspecting drivers caught off guard by yo-yo deals. Now dealers in that state have four days to cancel a sale until it becomes final. They are also banned from selling trade-in vehicles until the sale is final.

What kind of consumer protections are in your state? A little online research will give you an idea about what questions to ask at the dealership and other potential red flags to avoid.

Have a New Car? Visit Nearby CFSC Auto Services for Licensing & Registration!

Once you’re past the final hurdle and have your new car – congratulations! There are still a few steps to take care of before legally driving it. CFSC Auto Services helps drivers access a variety of auto-related needs:

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

When you stop by your nearest CFSC location, we can assist with a range of auto services as well as help out with day-to-day financial services. Our flexible schedule makes it easy to come by at your convenience. Check out CFSC Auto Services online to find out more!

Buying a used car is a great way to get a deal on a vehicle that may not be available through other means. But it’s important to understand the process first. After all, a car is one of the biggest purchases many people make. Be sure you pay attention to details such as your local laws in order to avoid problems down the road.

Make Sure the Seller is Legit

Before even considering a purchase from a private seller, you want to know the person you’re dealing with is who they say they are. Ask them if they are the owner of the vehicle. If so, they will be able to provide information about the vehicle’s history, which you’ll also want to ask about. Look up their name and phone number, as well, to verify their identity. A scam artist will want to hide this kind of personal information.

Buying a Used Vehicle in Illinois or Elsewhere

Used car dealers should be licensed with the Secretary of State’s office. The license should be displayed by the dealer. Be sure you know the rules and regulations in your state before sealing any deal. The state of Illinois offers these important recommendations to local drivers who are considering making a purchase through a private seller:

1. First and foremost, be sure to research a vehicle’s history using its Vehicle Identification Number (VIN), and obtain a Vehicle History Report (see below).
2. Many vehicles are illegally rebuilt after another state has determined them to either be a total loss or junk. Once it has been classified as a “junk” or “total loss,” Illinois will not issue a rebuilt title.
3. Make sure the vehicle’s title is provided and that it is signed and dated by the seller.
4. Never purchase a vehicle with an altered title. Alterations and erasure marks invalidate a title. Confirm the name on the title matches the name of the seller and the VIN matches the VIN on the vehicle. Also make sure that all previous liens have been released.
5. Confirm the VIN on the vehicle. The VIN on the driver’s side dash and the sticker on the driver’s door frame should match.
6. Beware of notations on the title and vehicle history report. This information may include floods, rebuilt, specially constructed, not actual mileage, mileage exceeds mechanical limits, inoperable odometer, and other factors that might pose a risk to the new owner.
7. If a Salvage Title has been issued on a vehicle, the seller must provide the buyer with a Disclosure of Rebuilt Vehicle form. Salvage vehicles cannot be registered in Illinois.
8. Obtain the seller’s contact information in case there is a problem with the title or the vehicle.

Address Risks: Get Vehicle History Report & Test Drive the Car Before Buying It

With private sellers, it’s even more important to test drive a vehicle on the street and highway before buying it. Regulations that apply to dealerships won’t apply here, which puts more responsibility on you to look into the car’s history and find out if there may be damage the seller isn’t revealing.

You may need to spend money to get a vehicle history report on CARFAX or a similar website. This report will give you information on past accidents, whether there are open recalls, the market value and other information that tells you about the quality of the vehicle. If there have been other previous owners, you want to know that, as well.

Steps to Take After Buying the Used Vehicle

Once you’ve purchased your new car, there are other important steps to take so it can be driven legally:

• Remove the previous owner’s license plates. It is illegal to operate a vehicle with someone else’s license plates.
• If purchasing a vehicle from a private individual, it is the buyer’s responsibility to have the title transferred to their name within 20 days.
• Stop by CFSC Auto Services and we’ll take care of the plate and title transfers for you!

Protect Yourself Financially with Smart, Local Auto Services

CFSC Auto Services helps drivers take care of everything else they need, all under one roof. Get help with a variety of auto-related needs, from license plate renewals and plate transfers to replacing stolen or lost stickers. Getting these tasks done properly and on time is crucial to avoiding expensive tickets that can easily be avoided.

Skip unnecessary trips to the DMV. When you stop by your nearest CFSC location, we can also help out with your other financial services. Our flexible schedule makes it easy to swing by at your convenience. Check out CFSC Auto Services online to find out more!

Traffic violations can carry penalties ranging from a $100 fine for a parking violation to a prison sentence for a serious moving violation. Yet in the hustle of commuting to work or making sure the kids get to school on time, these concerns have a way of taking a back seat to more pressing ones. That is, until you see a ticket on your windshield or lights flashing in your rear view mirror.

Even though most people consider themselves above average drivers, the fact is that billions of dollars are generated each year across the country because drivers are caught breaking the law. In Illinois, a speeding ticket could cost you up to $1,500, according to BankRate – not to mention endanger your life and the lives of those around you. The good news is it is possible to avoid getting ticketed, not just by reading and abiding by parking meters, but also by staying on top of the many infractions that cause drivers to get penalized each day.

Keep Your Car Legal, Registered and Looking Good

It’s vital to keep registration tags current. But you don’t need to wait in line at the DMV or Secretary of State’s Office to keep your tags and stickers up to snuff. CFSC Auto Services throughout the Midwest will handle those things for you and answer any questions you have about stickers, deadlines, and other details required by the state. issue a ticket. Make sure to repair cracked windows and replace bald tires, as these can often be the basis for a ticket.

Some drivers believe that even small things like keeping their car clean and taking care of minor repairs will keep the attention of law enforcement away from their vehicle. Whether a shappy-looking vehicle will draw more eyes on you is debatable, but it might signal to some people that it isn’t safe to drive.

Carry Auto Insurance in Illinois and Elsewhere

In states like Illinois, the law dictates that all motor vehicles must be registered and operated there to be covered by liability insurance. This type of insurance typically covers property damage, and possibly medical coverage for injuries, if you are involved in an accident. If you’re struggling to afford insurance, talk to an agent about your options. There may be a lower cost option available.

Educate Yourself About Common Moving Violations

A few types of moving violations bring in the most revenue because they are so commonly made. Here are three to keep in mind the next time you’re running behind schedule and tempted to disregard the rules of the road.

Disobeying Street Signs

Thanks to red light cameras, more people are being caught than ever before for running red lights. But disobeying any signs could get you in trouble. Be sure you’re familiar with all the signage where you drive and that you abide by them.

Speeding

Do you know the speed limit on all of the roads you take? Millions of drivers get speeding tickets each day, some of whom may not be aware that they were going too fast. Remember that the amount a driver is fined may depend on different factors, including how many miles over the limit they were traveling, whether they were in a construction or school zone, and their local laws.

DUIs and Distracted Driving

Many different factors can cause someone to drive recklessly. Driving while excessively tired is sometimes just as dangerous as driving under the influence of alcohol. Add texting to the mix, and it’s no wonder that distracted driving is one of the biggest culprits. Even having loud, distracting passengers in the vehicle can cause you to

Take Care of Auto & Financial Needs at CFSC Auto Services

Your nearby CFSC Auto Services can take care of other routine auto service needs, as well as financial needs like check cashing and electronic money transfers. Whether to register your new vehicle, pick up your plates or transfer your title, we can handle it for you in minutes.

It’s important to develop smart habits as a driver. Stop by your nearest CFSC location or check us out online to find out what else we can do for you today.