Nearly 70 percent of all car sales are used vehicles, thanks to the rising costs of new cars and the increasing quality of their used counterparts. While buying a previously owned vehicle makes the best financial sense in a lot of cases, experts say there are some things to keep in mind.

“To keep everyone on the road safe and protect your purchase, all drivers need to stay up-to-date on car maintenance,” says Doug Turner, director of service operations at Byrider, the nation’s largest used car and finance network of dealerships. “This is especially true for those with used cars.”

April is National Car Care Month and to help you extend the life of your used car, the automotive experts at Byrider are offering the following tips:

• Follow the maintenance recommendations of the manufacturer.

• Caring for a vehicle is similar to caring for oneself — take preventative steps to help keep your car healthy. Pay special attention to issues, noises or warning signs that could indicate your vehicle needs maintenance. Warning lights on your dashboard are illuminated for a reason. Understand what they mean and address them as-needed.

• Prevent rust and other issues by keeping the interior and exterior of your vehicle clean.

• Use a trusted repair service that hires Automotive Service Excellence (ASE)-certified technicians. This certification can make a big difference when it comes to quality repairs and maintenance.

• Complete as-needed or at a minimum, an annual inspection, on the vehicle. Keep in mind that different seasons of the year require different inspections and repairs.

• Use quality parts.

• Fill your vehicle with the proper gas. Use premium if the vehicle manufacturer suggests it.

• Regular oil changes will keep your car running as smoothly as possible. Be sure to use the proper oil per the manufacturer recommendations.

• When buying a vehicle, stick to retail dealers that put cars through a detailed inspection process. This will help to ensure a given vehicle’s safety and reliability. At the same time, consider dealers with an attached service department. “Your relationship with the dealership shouldn’t end once you drive the car off the lot,” adds Turner. In the case of Byrider, every car sold comes with a warranty or optional service agreement, as well as discounted parts, labor and service. To learn more, visit byrider.com.

A used vehicle can be a great investment. Extend the life of your car and stay safer on the roads by making smart purchasing decisions and taking a proactive approach to maintenance.

Find your latest news here at the Hemet & San Jacinto Chronicle

Search: Life of Your Used Car

The post How to Extend the Life of Your Used Car appeared first on The Hemet & San Jacinto Chronicle.

If you’re like many Americans, your car is your lifeline. When it’s in need of repair, being able to cough up the cash to keep it running is critical.

A new survey finds that U.S. consumers spent an average of nearly $2,000 on vehicle repairs and maintenance in the last five years, with millennials and generation Z being hardest hit by the costs. The 2019 Ally Financial survey, conducted online by The Harris Poll, found that while adults 55 and older spent $1,654 on average for vehicle maintenance and repairs in the past five years, millennials and generation Z paid an average of $2,334 during the same timeframe.

Ally’s survey results come on the heels of research from the Federal Reserve, which found that nearly four in 10 adults would not be able to cover unexpected expenses of $400 without selling something or going into debt.

If you’re concerned about the cost of a surprise car repair leaving you running on empty, consider these tips from Ally Financial.

Save

An emergency savings fund can prepare you for unexpected car repair bills. Another recent Ally survey found that two-thirds of 18- to 24-year-olds haven’t established any type of emergency savings fund, compared to approximately half of all other adults. Over time, setting aside even $10 each month can potentially protect you against having to borrow or incur debt.

Stay Protected

A vehicle service contract (VSC), similar to an extended warranty, is a protection plan that covers vehicle repairs costs outside of the manufacturer’s warranty, and may be easier to budget for than a large unexpected bill from the mechanic’s shop. Unfortunately, many people aren’t taking advantage of VSCs. The Ally survey found that only 21 percent of Americans have purchased one in the last five years.

Before committing to a particular service contract, shop around to ensure that you’re working with a reputable company that offers services at locations convenient for you. Also look into additional benefits. For example, Ally’s FlexCoverage includes 24/7 roadside assistance, towing, trip interruption protection, (e.g. reimbursement for room and board if your car troubles require an overnight stay) or rental car reimbursement. While these reimbursements are usually capped at a certain dollar amount, they can alleviate some of the burden

Be Proactive

Maintenance issues that go unattended can lead to heftier repair bills down the road. Schedule timely oil changes, brake pad replacements and tire rotation, and mark your calendar to check fluid levels like coolant and windshield washer fluid. If flashing lights appear on your dashboard, check your owner’s manual and contact your dealer or mechanic to see what the problem could be.

“Unfortunately, too many Americans are just one repair bill away from being forced to make tough financial decisions,” says Mark Manzo, president of Insurance at Ally Financial. “But proactive strategies can offer peace of mind and protect your wallet.”

Find your latest news here at the Hemet & San Jacinto Chronicle

Search: Car Repair Bills

The post How to Navigate Expensive Car Repair Bills appeared first on The Hemet & San Jacinto Chronicle.

Greetings from the Hemet Car Guy, in past article we discussed people buying cars for their Uber business. And the difficulty getting the loan approved if Uber or Lyft driving is your only means of income at car dealerships usually their lenders only do personal car loans not commercial/business loans.

Fortunately for us at VIP Autos we have lenders that do auto loans that can be put in the business name as long as the business is established with credit or the business owner or CEO or shareholder can cosign.

Purchasing a car for the business has many tax advantages for the owner, whether that owner is the business or an employee. But before you buy that car, consider the pros and cons of having the company or the employee owning the car.

Only actual business use of the car is deductible as a business expense. Commuting expenses between home and business are not deductible business expenses and personal travel is not deductible. Whoever drives the car must keep good records on business travel expenses in order to have those miles allowed as a deduction.

Many banks do have seasoning requirements for small business loans, which means you can only finance a car if your firm has been in business for at least two years. Provide your lender with at least two years of business tax returns and cash flow statements. You need a positive cash flow to get a loan. Depending on the size of the loan, your lender may also ask for a business plan that details the purpose for buying the car.

Buying a car can benefit the company or the employee who owns a business car with the cost savings from tax deductions. This deduction comes in two parts: the deduction for ownership of the car, and deductions for costs of driving the car for business purposes.

• The company can deduct depreciation expenses at the rate in effect at the time the asset is put into service (begins to be used)
• The company can also deduct general auto expenses for business use of the vehicle, like maintenance, gasoline, and tires.
• If the business owns the car, personal use of the car by the employee must be documented and the company must report personal use as taxable compensation on the employee’s W-2.
• Interest on a car loan is deductible to a business as an ordinary and necessary business expense.
• Insurance for a company-owned car may be cheaper than for an employee-owned vehicle since businesses can get leased-car and multiple-car rates and other discounts.
• If a company-owned car is involved in an accident, the driver’s personal insurance rates and liability are minimized.

My tax guy says “For the owner, the cost of the car as a business asset and the costs for business use of the car are both fully deductible from business taxes. For the employee, the cost of the car as an asset is not deductible (even for interest expenses on a car loan). The cost of business driving expenses is reported on Schedule A of Form 1040, but these costs are only deductible if they are greater than 2% of adjusted gross income

No doubt, having the business own the car allows more deductions, such as depreciation. Most of these deductions are not available to individual employees on their personal tax returns.

Here is another example our dealership decided to lease a car for business use. And then have the option to resell it at the end of the lease term. However when you think it through, for some businesses you may not have control over how much mileage the employee puts on that car. For example our car lease term has a 12,000 mileage restriction. If you (as the owner) drives a leased car, you may be able to control personal use and keep costs down. Every situation is different, but consider looking at the leasing option but also know it’s not for everyone.

Besides being the Hemet Car guy, I volunteer by serving on the Board of Directors for the Hemet San Jacinto Chamber of Commerce, I see business owners driving to the chamber events promoting their business and this comes to mind. Are you are using your car for business, it does have its advantages.

Disclaimer: I am not a Tax Guy nor do I play one on TV The information in this article is intended to be for general purposes, and is not intended to be used as tax or legal advice. Every business situation is different and federal and state laws are constantly changing. Please consult your tax or legal advisor before taking any action that could affect your business.

Find your latest news here at the Hemet & San Jacinto Chronicle

Search: Purchasing a car

The post Purchasing a car for the business has many tax advantages! appeared first on The Hemet & San Jacinto Chronicle.

Car culture in California has been hurting in the past few years. Between new emission laws and bans on certain aftermarket parts, the community has had a hard time organizing any kind of event without drawing attention from law enforcement who will occasionally use it as an opportunity to “fish in a small lake with a stick of dynamite.”

Although they can’t give moving citations, law enforcement will do whatever they can to shut down car meets. Often times enthusiasts will choose an abandoned parking lot to host these meet-ups, only to be shut down, because it’s a no loitering zone. The car meets then move to parking lots that aren’t abandoned, or they choose a local business to support. In Hemet and San Jacinto, these spots were In-n-Out, Jack in the Box, Sonic, and Farmer Boys. Three of these four spots have since been shut down by police raids. 

The police came in with multiple cars, blocked all entrances and exits, forced people to pop the hoods of their cars and began to write citations for illegal upgrades and began repossessing vehicles. The businesses that were allowing these meets to take place in their parking lots where grossing thousands of dollars when the meets took place. It was a net win for all involved.  It helped passively draw crowds and almost served as free advertisement/entertainment. 

Pep Boys in Hemet is fighting back! They are hosting their own monthly car show called, “Cars & Coffee at Pep Boys.” This month they are hosting it on February 22nd and are offering free coffee and donuts. Pep Boys isn’t limiting the event to only one type of vehicle. Instead, they have it open to all types of rigs, from low-riders to off-road rigs, muscle cars and tuners. All are welcome to show up and show off what they have been working on. 

In April they will be having a huge car show event. Here they will have a live DJ, Tacos for sale, and a DYNO (A dynamometer, or “dyno” for short, is a device for measuring force, a moment of force (torque), or power. For example, the power produced by an engine, motor or other rotating prime movers can be calculated by simultaneously measuring torque and rotational speed known as RPM’s) machine for people to test the power capabilities of their cars. There aren’t many other places in the Hemet & San Jacinto area for car enthusiasts to test the true power of their vehicles, so this is a can’t-miss event if you are a car person. If you aren’t an owner of an awesome ride, come out to enjoy some music, food, and check out the awesome cars that are being built around our valley.

Find your latest news here at the Hemet & San Jacinto Chronicle

Search: Pep Boys taking matters

The post Pep Boys taking matters into their own hands to give car community an outlet appeared first on The Hemet & San Jacinto Chronicle.

Greetings from the Hemet Car Guy,

Recently we took in trade a 2001 Jaguar made in England that needed some work (as they usually do), I took it home to show to Bambi and we decided to make it our second car as we loved it’s classic look. When talking about this new acquired Brit, it got me thinking …these cars are made in a country that puts the steering wheel on the right side.
Have you ever wondered why some countries prefer to drive on the other side of the road?
I’m sure it would be easier if everyone just used the same side of the road, right? It would certainly save the automakers a lot of money.
I remember watching a documentary on the History Channel not long ago that explained this issue.
Turns out this goes way back in time, long before the car was even invented, yes, horse and buggy time.
The whole thing is traced back 6,000 years ago, during the era of the Roman Empire, who had the biggest road network at the time, which controlled a massive area that expands beyond today’s Europe.
The Romans then dictated that everyone should travel on the left side of the road since most people are right-handed and usually mounted their horses from the left.
However a couple of thousand years later, a guy named Napoleon conquered most of Europe, decided that wasn’t enough. He made everyone travel on the right side and everyone obeyed, meaning everyone but England
When England and France started establishing colonies around the world, they also brought their customs with them. That’s why countries like Australia and India are still driving on the left while countries like Morocco and Vietnam drive on the right.
Except for the United States, no it’s not because we wanted to rebel against the British, it’s because we moved a lot of cargo up and down the colonies with a team of 4 horses pulling large wagons and as most drivers were right handed they sat on the left side and controlled their horses with the whip in their right hand.
So as cars were invented the driver’s side remained on the left.

Good driving and Stay on the Right.

Search: The Right Side

Visit the HSJC for more editorial on The Hemet Car Guy

The post Driving on the Right Side appeared first on The Hemet & San Jacinto Chronicle.