Financing Options for your Vehicle in Canada

There are several options available to finance your vehicle . Every option has its own advantages and disadvantages . Based on your requirements you may choose one of these options which suits you best : 

1. Direct Lending

In Direct Lending , financing can be done thorugh a loan directly from a bank, finance company, or credit union. In this preference , the banks or lender agrees to pay you the amount financed, over a period of time, plus a finance charge ( as per the fixed rate ) . Once you enter into a contract with a dealership to buy a vehicle, you use the loan from the direct lender to pay for the vehicle.

Direct lending may offer you the following features :

Comparisons :  

You have the chance to shop around and ask several lenders directly about their credit terms before you agree to buy a specific vehicle.

Credit terms in advance : 

 By getting financing before you buy the vehicle, you will know your rate and other terms when you are shopping.

Advantages : 

Competitive rates, 

personal service, 

no sales pitch for add-ons;

often can tell you if you're paying too much for a car; 

often provide free life insurance or disability insurance with loans; 

loans are usually simple interest loans (interest spread evenly throughout the term of the loan)

Disadvantages : 

Not as convenient as dealership financing -- can't set it up at night or on the weekend

2. Dealership Financing

Another common type of vehicle financing is Dealership financing i.e. , financing through the dealership. You and a dealer enter into a contract where you buy a vehicle and agree to pay, over a period of time, the amount financed plus a finance charge. The dealer may retain the contract, but typically sells it to a bank, finance company or credit union — called an assignee — that services the account and collects your payments.

Dealership financing may offer you:

Convenience :

Dealers offer vehicles and financing in one location and may have extended hours, like evenings and weekends.

Multiple financing options : 

The dealer’s relationships with a variety of banks and finance companies may mean it can offer you a range of financing choices.

Special programs : 

Dealers sometimes offer manufacturer-sponsored, low-rate or incentive programs to buyers. The programs may be limited to certain vehicles or may have special requirements, like a larger down payment or shorter contract length (36 or 48 months). These programs might require a strong credit rating; check to see if you qualify.

Advantages : 

Convenient, 

fast, 

sometimes competitive

Disadvantages : 

High pressure, usually not competitive;

Be prepared for a big sales push on add-ons; 

Loans are often front-loaded (payments are made up of more interest in the beginning of the loan than toward the end -- that's bad if you think you may be paying the loan off early.)

3.Other Online financial institution

 

Advantages : 

Usually competitive rates, quick, easy

Disadvantages : 

Not a personal service; 

dealing with an unknown; 

some scams to watch out for

4.Home equity loan: 

Advantages :

You can deduct some of the interest from your taxes; 

competitive rates

Disadvantages : 

You're tying your car to your home (may be risky)

5.Family member or friend 

Advantages : 

Personal service, easy, sometimes flexible; 

usually competitive rates

Disadvantages : 

Could jeopardize a relationship

Tips before making a financing decision :

Shop around before you make a decision about buying or leasing. Disadvantages ider offers from different dealers and several sources of financing, including banks, credit unions, and finance companies. Comparison shopping is the best way to find both the vehicle and the finance or lease terms that best suit your needs.

Determining the Rate - The most important aspects of financing !!

The interest rate you get when financing a new or used car can vary quite a bit from the advertised rates you see on TV or read in the paper. Probably the biggest influence on your rate is your credit rating (see How Credit Scores Work to get the full story). Your credit history and credit score tell lenders a lot about your money habits and are designed to give them an idea of what their risk is if they loan you money. They often raise the interest rate if your loan is seen as high-risk.

Another thing that affects the rate you get is the length (term) of the loan. Typically, the shorter the loan, the lower the rate. Keep in mind that the shorter the term, the higher your payments will be.

Used cars will have higher rates than new cars. The newer the car, the lower the rate. (You may find an exception to this rule at some credit unions. Some give the same interest rate for new and used cars.)

Your geographic location can also be a factor in the rate you get. Your cousin may have gotten 7 percent on the other side of the country, but in your home town, 8.5 percent may be the lowest rate you can find.

While these are the usual things that affect the rate you get through a bank or other financial institution, financing through the dealership may or may not actually work this way. Find out why in the next section.

Tips to impress your girlfriend or a boyfriend..

Thanks !!

Sunny Kabra

10 Most Amazing Concept Bikes

Riding is a passion for everyone ans so do I have .I , personally loves riding 

bikes, especially have a dream to get a ride on those bikes which have unique 

design anatomy and superb technology. 

The world has seen that as technology evolves, new concept bikes with some unique 

designs have become reality . Though fascinating, these concept bikes share a 

common aptitude of never making into the real world.

Compiled below is a list of the most amazing concept bikes you will ever see. Some 

of them may even hit the roads of reality in coming future but most of them are 

just idealized for the imaginary world.

1. Honda V4

The Honda V4 concept which was revealed at the 2008 Intermot bike show in Germany 

is a stylish and futuristic sportbike which proposes a new design direction for 

the brand.

2. Suzuki G-Strider

The Suzuki G-Strider was first seen during the 2003 Tokyo Motorshow. This concept 

motorbike is best described as half scooter half cruiser motorcycle as it shares 

attributes with both.

3. I.Care

This concept bike, known as the I.Care, is the best example of modern-day 

technology mixed with design and speed. It is designed and visualized by a 

France-based company, Enzyme Design. The I.Care motorcycle is meant to be the 

Aston Martin of the two-wheeled world with a six-cyclinder 1.8 Honda engine.

4. Victory Vision 800

The Victory Vision 800 is a true concept bike, designed to show just how radical 

Victory can think. Victory, a division of Polaris ATV’s has no intention of 

producing the Vision 800, but the design is important nonetheless.

5. Yamaha Tesseract

The Yamaha Tesseract Concept Bike was unveiled at the Yamaha 2008 Tokyo Auto Show. 

Yamaha has made this concept a hybrid, boasting both a V-Twin engine of 

undisclosed size along with an electric motor.

6. Peraves Monotracer

The Peraves Monotracer is a fully enclosed motorbike featuring a sporty, 

aerodynamic appearance and low fuel consumption. The Peraves Monotracer is a new, 

updated and more attractive version of the Swiss-made Ecomobile.

7. Bombadier Embrio

The Embrio is a robotic unicycle announced by Bombardier in 2003, it is currently 

only a conceptual design. If produced, it would not be available until 2025. It is 

designed to be a hydrogen fuel cell-powered motorized unicycle capable of reaching 

highway speeds.

8. Batpod

Seen this in the Dark Knight, Have we? The Batpod was designed for the movie by 

Nathan Crowley and is powered by a high-performance, water-cooled, single-cylinder 

engine – geared toward the lower end for faster acceleration and with no exhaust 

pipes.

9. Dodge Tomahawk

The Dodge Tomahawk is a concept vehicle which was produced by Dodge. The insane 

potential widowmaker Dodge conceived and subsequently named the Tomahawk was first 

seen in 2003 at the Detroit Auto Show.

10. Confederate Renovatio

The Renovatio concept motorbike from Confederate Motorcycles based in America is a 

radical concept bike designed by Confederate’s lead designer Ed Jacobs. It is 

extremely minimalistic with all the mechanical elements of the bike on show.

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Super Excited 2013 MTT Y2K 420R

The 2013 MTT Y2K 420R in the 2013 year expected to have a whooping price tag of Rs. 1.06 crore! The machine will clock a top speed of 440 kmph.


If the reports are right, we can blindly believe that Marine Turbine Technologies, a US based turbine manufacturer, is working on an upgraded version of the Y2K Turbine Suberbike that debuted in 2000. The refreshed variant is proposed to be known as the 2013 MTT Y2K 420R.

World’s Fastest Bike Y2K with Helicopter Engine 

It has been sourced that the new 2013 MTT Y2K 420R is mated with a newly refined Rolls-Royce C-20B gas turbine engine, which is capable to fire out an authentic amount of 420bhp power. The bullet-machine, which is currently undergoing wind tunnel testing in UK, is expected to clock a top speed of around 273 mph (439.35 kmph).

When the motorcycle was launched in 2000, it wondered everyone with its strange and unique design, and unbelievable performance. The first version was equipped with a Rolls-Royce Allison Model 250 engine, which is commonly used in helicopters. Producing a sporty power of 320 bhp at 52,000 rpm, the superbike manipulated both the word 'speed' and track. The monster hardly needed only 5.4 seconds to accelerate from 0-200 mph (0-320 kmph). The top speed of the bike was 370 kmph.

What the secret behind the Y2K machine is that unlike the rest jet powered superbikes those use a massive jet engine provided thrust to run the motorcycle, the Y2K handles the turboshaft engine to drive the rear wheel via a two-speed gearbox. Additionally, the engines wedded in the Y2K bikes are not a new one, but they are used and have reached its FAA mandated running limit. These engines are rebuilt regardless with conditions. The turbine engine is usually filled by kerosene to have procurement. The bike can also use both diesel and jet fuel.

In 2008, MTT launched the second version of the Y2K namely, the Streetfighter. Equipped with a Rolls Royce-Allison turbine engine the bike produced a massive power of 320.00 HP @ 52000 RPM and a gorgeous torque of 576.30 Nm @ 2000 RPM. More impressively, the engine was belted with an automatic gear box which eases the driving at every circumstances. The top speed of the machine was 402 kmph. However, both these products failed to be successive production motorcycles in the market.

As of now, the American firm is working on its third generation 2013 MTT Y2K 420R, it is proposed to include carbonfibre wheels, carbonfibre full fairing, an aluminium alloy chassis, bigger brake discs with radial-mount calipers at the front, a 240-section rear tyre, more advanced electronics and ABS technology to enrich safety. 

Even though there is no official report regarding its price tag, it is echoed that it would hold an intolerable amount of $200000. Since the 2000 edition was priced $150000 and the 2008 edition was labelled $175000, we can expect pricing around those figures. The bike is expected to be on road by mid-2013. Unfortunately, the bike will be available only in US, UK and some chosen European markets.





Sunny Kabra

A look at the Fastest Super Hot Bikes in the World !!

Here is the brand new list of the top 10 fastest bikes in the world in the ending year 2013!!

1. Dodge Tomahawk

Top Speed: 676 km/h / 420 mph

0-100 kph: 2.6 sec.

Power: 507 HP (378 kW)

Engine: Viper V10

Dodge Tomahawk V10 superbike features an independent four-wheel suspension and its 

engine is taken from the famous American sports car Dodge Viper. The result is a 

motorcycle that outputs over 500 horse power. The production was limited to 9 

units of this concept bike, which sells for a whopping $555,000. Chrysler 

executives said they are having serious thoughts about going mainstream with a 

price of $250,000 / unit, despite the fact, that these motorcycles cannot be 

legally driven on public roads. The rumor has it, that they cost Chrysler over 

$100,000 to build.

2. Suzuki Hayabusa

Type: Sport Bike

Engine: 1340cc Inline-4

Price (Base MSRP): $14,399

Available Colors: Glass Sparkle Black / Metallic Oort Gray, Pearl Glacier White / 

                            Metallic Oort Gray

The 2013 Hayabusa starts at $14,399, inexpensive for a member of the 1400cc class 

of 2013 sport bike motorcycles (the average price is $14,999). A 12-month factory 

warranty from Suzuki helps protect new buyers.

ENGINE

This bike is powered by a liquid-cooled 1340cc Inline-4 engine. Fuel injection 

makes for effortless cold starts and smooth power delivery. The 12.5:1 compression 

ratio is just about average relative to all 2013 sport bike motorcycles.

Dimensions

The Hayabusa is 86.2 inches long and 28.9 inches wide. The wheelbase comes in at a 

lengthy 58.3 inches, prioritizing stability over quick turn-in. A seat height of 

31.7 inches is only 0.80 inches higher than the average motorcycle, making it 

manageable for riders of most heights.

Weight & Fuel Capacity

The 5.50-gallon fuel capacity is slightly higher than average.

3. MTT Turbine Superbike Y2K

Engine Rolls Royce Allison 250 series gas turbine

Max Power 320 hp @ 52000 rpm (286 hp @ rear wheel)

Max Torque 425 ft-lbs @ 2000 rpm

Transmission  /  Drive 2 Speed automatic

Front Suspension 55 mm inverted

Rear Suspension mono-shock adjustable oleopneumatic, Öhlins

Front Brakes 2x 320mm discs 4 piston caliper

Rear Brakes Single 320mm disc 4 piston caliper

Dry-Weight 190 kg

Fuel Capacity  34 Liters

Top Speed 250 mp/h  /  402 km/h

With a power output of 286bhp and a top I speed of well over 200mph (322km/h), the 

bike that was named Y2K and produced by Louisiana firm Marine Turbine Technologies 

was almost certainly the most powerful and fastest motorcycle ever to go into 

series production. Given that Y2K was powered by a gas turbine engine previously 

used in a helicopter, its performance was hardly surprising.

Jet engines had been used to power drag-racing bikes and a few one-off creations 

before, but this was the first time that such a machine was produced for roadgoing 

use. Despite Y2K's price of US $150,000, there was enough demand for Marine 

Turbine to build and sell a small series of machines over the next few years.

4. Honda CBR1100 XX Blackbird

Price                      $10,490* 

Odometer              4,699 Kms

Body       Super Sport

Colour               BLUE , Mettalic Oray , Silver Grey , Black

Engine Capacity  1100

Reg Plate        UIK-73

Honda CBR 1100 XX Super Blackbird is a sport-touring motorcycle built by Honda. It 

combines big engine power, Easy operational error-tolerance with touring comfort. 

The Blackbird production started in 1997 and the last year of production was 2006. 

The Blackbird was the result of Honda's attempt to build the world's fastest 

production motorcycle, stealing the crown from Kawasaki.

5. Yamaha YZF R1

The Yamaha YZF R1 is supposed to be just a redefinition of the Genesis engine used 

in the previous Yamaha bike series. With a powerful 1000 cc engine, the top speed 

of this motorcycle touches up to 186 miles per hour. Having an appearance and 

class close to a true racing bike, the engine has a horsepower of 128.2 @ 10000 

rpm. Similar to having the liquid cooling system engine like the other bikes, the 

R1 engine comprises of 20 valves in 4 cylinders, thus increasing the handling 

capacities of this super bike to a great extent.

Sunny Kabra

https://www.liketwice.com/82mZs

Money-wise Tips For First Time Car Buyers

If it's your first time to buy a new car, there's a lot of things to consider. 

But if you want to save money or spend as little as possible, here are various 

money-wise tips for you :

Albert was asking for some help because it was his first time buying a car. I'm 

not an expert, but I figured I'd share what I've learned so far. 

This isn't a car blog though, for tips on engine specs, performance, parts etc. , 

you may refer to my previous blogs on "The Best Luxurios Cars" ,  "Various Car 

Porche

Here I have tried to provide the best I can give on cost and maintenance tips. And 

I'm not experienced enough to give advice on buying second-hand cars either, so 

this post is mostly about buying a new, first-hand car.

1. Choose your car wisely.

I'm a firm believer in paying for value. Unfortunately, because cars are so 

expensive, it's naturally associated or appraised as much for the perceived social 

status it brings, and not necessarily the real role it will play in your daily 

life - which is mainly as just a point-A-to-point-B means of transportation.

I once heard a presidential candidate gloss over having a Volvo as a need because 

that level of "security" is needed for his position. If the car came out of the 

factory with bullet-proof chassis and self-inflating tires, I'd readily agree. But 

he was probably referring mostly to the dependability and reliability of the car. 

I can't knock the quality of Volvos, but obviously they also don't have a monopoly 

on great car performance.

I'd still buy it; if I can really afford it !!

I also often hear people citing safety as the main reason for buying a big, 

expensive, gas-guzzling SUV. It certainly feels safe to be inside such a big 

sturdy vehicle. But defensive (and level-headed) driving is still the best way to 

avoid getting in an accident. Besides, there are other vehicles just as big or 

bigger than SUVs, so being in a big car doesn't mean much. And a high-speed 

collision, even with a smaller car, hardly excludes a bad outcome. SUVs aren't 

really that much safer.

I'm not knocking Volvo or SUVs. If you need one, get one. Just be sure you know 

what you really need. Even if you can afford a more expensive car, there may be 

very little additional value you are getting back in return.

2. Choose your dealer.

Even when buying the same exact car, different dealers can sometimes offer 

different prices. Find one willing to give you discounts or freebies. Sometimes no 

one can really do so; but it's very much worth the try.

How to try? Just ask point-blank. If they say none, say you'll think about it and 

then talk to other dealers. You can also try going back and getting counter-

offers. Personally, though, I just pick the best offer I get from the first round 

of asking.

3. New is great, but semi-new may be safer and cheaper.

I'm not saying buy a newish second-hand. But if the car model came out just a 

month or two ago, you typically won't be able to get discounts or freebies.

And if the car is part of a new line or has been totally overhauled (design-wise) 

it might be best to wait a bit for the feedback to get in and for the car 

manufacturer to address issues.

4. Consider buying accessories separately.

I'm sure it's great to get the car exactly as you want it on the very first day. 

But if you're getting it through in-house or bank financing or some other type of 

loan, it might not make much financial sense.

Take leather seats. Let's say it costs Php10,000 at the dealer. When paying 

through bank financing (at 10% per year over 3 years, for example), you're 

actually paying something like ~13,300 - or over 30% more than market value.

Instead of paying interest on an accessory you can otherwise afford, try saving up 

and/or investing for them instead.

5. Pay in cash, or else get bank-financing rather than in-house financing.

It's cheapest to buy in cash. Not all of us are as blessed though. From 

experience, bank-financing is cheaper than in-house financing (i.e. loan through 

the dealer).

If a bad financial picture is preventing banks from loaning you money, it's better 

to fix that problem first. Getting an expensive loan may just aggravate the 

situation.

You can refer to my upcoming post on different banks' car loan rates ; I am 

working on this blog and will share my information with you very soon.

6. If you're getting a loan, make a huge downpayment

Doing so means you pay less in monthly amortization and paying less in total 

interest cost over time.

7. Ask about insurance options.

Never Miss On this Tip !!

If you are buying through bank-financing, you're going to be required to get car 

insurance. Your car dealer may have partnered with an insurance company and you 

might not have much choice, but it's still worth asking.

You'll probably have a bit of leeway with the insurance coverage. Get an insurance 

that fits you, but don't be overly stingy. In my case I opted for a comprehensive 

one with an Acts of Nature clause because it only added around 4k to my insurance 

premium (which is good for three years already) and I wasn't sure how flood-prone 

my new area of residence really is.

8. LTO registration

Another thing I liked about getting a new car is that my dealer handled the 

legwork for this on my behalf (at no extra cost). 

This can also be part of the "freebies" - they'll shoulder the cost as a sales 

gimmick (if they don't offer, you can try asking).

But if the model you are buying just came out, there are typically no freebies.

9. Ask about maintenance costs 

Warranties are void if you don't do the regular maintenance. Even disregarding 

that, it's better to be proactive and not let problems get worse before having 

someone look at it.

But from experience, dealers are not so willing to talk about the cost of 

maintenance. One probable reason is that it can vary from dealer to dealer.

That's right, the same car in the same condition, taken to different car dealers 

(same brand and service, even if technically a different franchise) can charge 

differently.

My true experience : The dealer I bought the car from was going to charge me over 

4k for the 1000km check-up (including fully synthetic oil, since 1-2Km is the time 

for the first oil change).

I didn't have enough saved up (since they didn't mention the price beforehand) and 

I didn't want to use my credit card. So I opted to wait a while more before 

proceeding with the maintenance. 

When I did have the money (before reaching 2000km), I went to a nearby dealer 

instead to at least save on gas. Surprisingly they quoted a price of just over 2k. 

So for my next maintenance, I'll be canvassing some dealers before deciding where 

to go.

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Sunny Kabra