You've done your research, cruised through a test drive and found the perfect car. When it comes time to sit in the dealer's office and sign the car loan documents, are you prepared? Auto loans and financing options are great ways to allow drivers from all backgrounds to become car owners, but if you're not careful, you may find yourself facing down contractual complications. Before you scribble your John Hancock onto the contract, there are a few things to keep in mind to keep your new wheels from driving you crazy down the road.

Give yourself credit
A big part of what sort of loan you can find yourself qualifying for is your credit history. While bad credit won't necessarily lock you out of a loan, it can result in a higher interest rate or larger down payment required when you sign. That's why Bankrate recommended building your credit as much as possible before heading to the dealer's office. If you can afford to hold off on buying a car for a month or so, dedicate a few weeks to paying outstanding credit bills. Timeliness of your credit payments can affect more than 30 percent of your credit score, so staying on top of bills and letting late payments fall off the radar can be beneficial.

Assert your independence
If your credit score is on the beefier side, you may be able to qualify for independent financing. This means getting preapproved for a loan through a bank or other institution rather than through the dealer. While still subject to interest rates and minimum payments, this step will qualify you as a cash buyer at the dealership. According to Today Money, this is a huge advantage, as it gives you more breathing room when it comes to things such as negotiating costs and payment terms.

Exercise caution
In some cases, dealers may offer buyers with poor credit what is known as spot delivery – a practice Edmunds reported consists of approving a purchase before the financing actually finalizes. While this does offer you the benefit of driving off the lot with a car, it can lead to problems later on. Once the dust settles on the financing approval process, you may find yourself subject to a higher-than-agreed-upon interest rate or even being asked to conjure up a higher down payment.

If you're looking for a used car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars on the lot and an in-house finance team to help you afford the used vehicle of your dreams.

If you're a young driver, you've likely spent lots of time thinking about your perfect car. What you may not have spent as much time thinking about is your insurance options once you have your car. Navigating labyrinthine insurance paperwork can kill the buzz of a car purchase for new drivers quickly, and the hefty insurance bill even more so. Unfortunately, teen drivers tend to feel the heavy end of the hammer when it comes to insurance premiums. The good news is, there are some tips for keeping your insurance costs down as a younger motorist. 

Start with the car
The easiest and most basic way to keep your insurance bill down is to choose a car that doesn't come with a conventionally high cost to insure. Some of the factors are fairly obvious – for example, more expensive cars, and cars with lower reliability and safety ratings, tend to carry a higher price tag when it comes to insurance. But other factors can play a role as well, such as how likely your car is to be stolen – a statistic that the National Insurance Crime Bureau tracks on its list of Hot Wheels, Edmunds reported.

Educate yourself
A little time spent in a classroom can go a long way in saving money on your insurance bill. According to Edmunds, taking an official driver's ed course can save you up to 10 percent on your insurance premiums versus going it alone. Once you have your license, you can continue to trade study time for insurance discounts. Many providers offer money off to drivers who attend save driving courses, and there are several that target teens and younger drivers specifically. 

Even studying hard at school can pay off for you. According to Kiplinger, some insurance providers offer discounts to student drivers who keep their grades up above a B average.

Cut out what you don't need
It's true that insurance is buying yourself peace of mind, but it's also important to be realistic and economical to avoid paying through the nose for unnecessary services. Kiplinger recommended doing away with more advanced coverage options such as collision coverage – many older cars are worth less from insurance than what you'd pay for the premium anyway.

If you're shopping for a used car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars, as well as an in-house finance team dedicated to helping you finance a high quality used car.

For many motorists, leasing a car is an attractive alternative to buying. Leases run for fixed periods of time, and drivers don't have to worry about depreciation and negotiating trade-in value. Best of all, you're left with a variety of options when your lease is up, giving you the flexibility to decide what will best fit your current lifestyle and circumstances. Understanding what choices you have as the end of your lease approaches is important to make sure you can make an informed decision about what to do with your car.

Preparations
Getting ready for the end of a lease is something of a process. You'll need to start thinking about it a couple of months ahead of time, as almost all dealers require cars to undergo a lease inspection. Any damage, maintenance needs or in some cases mileage overages may affect what your options are and how much you end up paying. Edmunds suggested having your car washed, cleaned and even detailed. It won't cover up any major flaws, but it may help demonstrate that you've been taking good care of the car.

Also make sure to have all the administrative odds and ends in order, such as extra sets of keys, which are a commonly forgotten item. 

Decisions
The big question is: Are you going to extend your lease, return the car or purchase it from the dealer? There is no hard and fast answer as to what the best course of action is. LeaseGuide recommended taking a few factors into account, such as the car's value in comparison to how much it would cost to buy it outright – if it's depreciated too much over the course of the lease, buying it may just be setting you up to lose out on later trade-in.

Early termination
Sometimes circumstances arise and you may find yourself needing to get out of your lease early. While not impossible, it's also not simple and should not be undertaken lightly, as it can have implications on your credit score, according to LeaseGuide. Most lease contracts will include a clause covering such an occasion, but it's a good idea to sit down with your dealer anyway to find the most amicable solution. 

In your hunt for a used car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars on the lot, and an in-house finance team to help you make owning or leasing a used car, truck or van affordable. 

For many, the unfortunate reality of a recent bankruptcy filing looms over like a blemish on the otherwise pristine face that is credit records. Even if you've managed to dig yourself out of debt and start fresh, having filed for bankruptcy can create a host of headaches for you down the road when it comes time to do things like apply for a loan for a car purchase. Fortunately, a history of bankruptcy doesn't have to impact your car ownership options in a terminal way – there are ways to make sure that you can still drive away with a car of your own.

Keep your expectations realistic
While Edmunds indicated that credit unions and even banks aren't opposed full-stop to approving car loans for those who have been through bankruptcy, it's important to not shoot for the moon when you're shopping on the lot. Your best bet is to keep your expectations realistic and modest. BankRate.com stated that most financial institutions will likely balk at approving more than a $15,000 loan for someone coming out of bankruptcy which, fortunately, leaves open a whole host of options in the used car market.

Take interest
One major thing to keep in mind is that while you can still get approval for a car loan after bankruptcy, you should expect to pay more. The difference in interest rates between someone with a good credit score and someone with a bad one can be severe. According to Edmunds, those on the lower end of the credit spectrum could be looking at monthly interest rates of between 15 and 18 percent, versus the 3 to 4 percent that those with good credit are accustomed to. Even better, these monthly payments can help you beef your credit score back up and may even allow you to refinance your loan for a cheaper rate down the road.

Additionally, your previous payment and employment history will come into play. Dealers will be put at ease if they note that despite your bankruptcy you've been fastidious about making monthly payments on time. Conversely, while unemployment or poor repayment history may not shut you out completely, dealers are more likely to look for a larger down payment when you buy.

If you're in the market for a used car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars on the lot, and an in-house finance team that is dedicated to helping you afford the used car, truck or van that's right for you.

Buying a car is a huge financial investment. Unlike a new Xbox or tickets to the next Beyonce concert, your decision to purchase a car will have lasting financial ramifications that can, at least in part, dictate your spending habits for the next couple of years. While things like car loans can help you lighten the financial load up front, it's possible and even common to get bogged down in the details of things like interest rates and how that affects how much you ultimately end up paying. 

To loan or not to loan?
Before you sign on the dotted line, you should stop and consider if you even need to take out a car loan. Paying for a car with cash may seem like a daunting task, but if you're able to manage to pull the savings together, you'll be able to avoid the potential headache of wrestling with interest rates and monthly payments, not to mention avoiding these means you ultimately end up spending less. Additionally, Wall St. Cheat Sheet reported that buying with cash can help you avoid ending up with an upside-down loan – a situation where a car's depreciation means that you ultimately end up paying more than it's worth when it comes time to sell. However, saving up to buy a car in cold hard cash may not be feasible for everyone. If you've never been able to make friends with your piggy bank, then financing your purchase with a car loan may very well be the right choice for you.

Car loan ins and outs
If you decide to finance your car, there are a few things to keep in mind. First, your credit score may impact more than just your loan eligibility; it can also affect how much you end up paying per month. While having a poor credit score may not lock you out of qualifying for a loan, it can leave you with higher monthly payments. That said, according to CNN Money, consistently paying toward your car loan can raise your credit. If your credit score sees a decent jump during the course of your loan repayment, consider asking to refinance. This may afford you a better rate or cut down on the amount of time left in your repayment.

If you're looking to buy a car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars on the lot, and the in-house finance department is knowledgeable and dedicated to helping you qualify for a loan so you can afford the car, truck or van that's right for you.

Say you’re growing tired of your old car and want to invest in a better-quality used model. What do you do? While you may be tempted to jump right into the buying process, you need to start by determining just how much you can afford to spend on a used car. This all starts with knowing your credit score, as the number plays a major role in your budget.

Why know your credit score 
So should you know your credit score? The answer is a resounding “duh.” Credit scores play an important role in all aspects of your finances, especially if you’re considering investing in a used car. It affects car loans, monthly payments and much more, and you need to know the number before jumping into a big purchase.

How to find out 
Once you’ve made the easy decision to know your credit score, you’ve got to step up to the plate to figure it out. Plenty of websites and resources are available to provide free credit reports, and these can give you insight into your spending habits and personal finances.

In the near future, however, getting your credit score could be as easy as contacting your bank. Banks provide the most accurate reports, and as such they can give you the information you need to know, including ways to improve your score and other important data.

“Credit reports and scores can determine the terms of people’s mortgages, whether they qualify for auto loans or if they are eligible for different credit cards,” Richard Cordray, the head of the Consumer Financial Protection Bureau, told NBC News. “Making consumers’ credit scores freely available on their monthly statement or online makes it easier for them to spot problems with their credit report.”

When you see it – and wish you didn’t 
Say you get a glimpse of your credit score and – yikes – it’s not a pretty sight. First of all, don’t panic: It is not the end of the world. You can spend some time figuring out what to do to improve your finances, but that doesn’t mean you have to put off buying a used car. There are facilities in the New York/New Jersey area that can provide you with auto loans and financing options.

Even if your credit score is less than stellar, you can still find ways to afford a used car. At New Jersey State Auto Auction, the financing department is on hand to help approve you for an auto loan, even if your credit score leaves something to be desired. Check out what the facility has to offer and you may drive away with a high-quality used car.

There may come a time when you run into financial trouble. It happens to almost everybody, and when it does, one of the first things to fall by the wayside is a car payment. While it may not seem like a big deal at first, continuing to ignore the bills can lead to repossession of your car. No one wants to have to be on the run from the repo man forever, so here are three tips for avoiding him so you can get back on your feet: 

1. Hide the car 
Until you get the money lined up to pay your loans, you should take the car off your road. Repo men are not allowed to take a vehicle if they have to break locks, cut chains or damage your property in any way, so you can lock your car up in a garage or behind a chained gate, according to Nolo Law for All. 

2. Set up a repayment plan 
OK, you’ve bought yourself some time by hiding your car from the repo man. But you can’t keep it locked up forever – you need to come up with a plan that will get your finances and your car back on the right track. Figure out what you can do to come up with the money needed to pay back your debts. You can even let the repo man know what you intend to do – you never know, keeping communication open may be enough to get him to cut you some slack. 

3. File for bankruptcy 
If all else fails, and you feel like your finances and debts are totally out of control, you can file for bankruptcy. In this day and age, options like a debt repayment plan under chapter 13 bankruptcy are viable for many. This move grants an Automatic Stay, which means the repo man will stop coming after your car. You will have to formulate some kind of repayment plan, but it’s certainly an option if you need to have your car for your daily life. 

When the repo man gets the best of you and you have to invest in another car, you can feel like your options are severely limited. That is not the case, however, as New Jersey State Auto Auction has a financing department that helps people with bad credit get approved for auto loans. You’ll be able to choose from hundreds of Carfax-certified used cars, trucks and vans, all while staying within a budget. 

Purchasing a used car is a major investment, which is why so many drivers spend time and energy scouring over all of their options to find the best possible fit. Not only do they have to search for the right vehicle, but they also have to examine all possibilities regarding the loans and financing of the car. Unfortunately, some motorists have more work to do than others, and they must focus on building their credit before taking the keys to a ride. 

The first step toward maximizing your buying power is knowing your credit score. You should know where you stand so you can assess what type of loans and interest rates are available. If you find that your score isn't exactly where you want it to be, however, you can continue to work to improve your financial reputation. 

You should also start building up a savings that can be used as a down payment. If you can provide approximately 20 to 25 percent of the purchase price, you'll be in better shape to earn a top loan with attractive interest rates. 

There may be an instance where you feel like you need to prove yourself to get a better auto loan. In this case, consider purchasing a small item and financing it through a short-term, formal loan. This gives you an opportunity to build positive credit and shows potential lenders that you can be trusted. 

Once you've built up good credit, you can start shopping for the right used car. A great place to start is at NJ State Auto Auction, which has a wide variety of vehicles to consider as well as a financing department. The experts on hand are available to help you find auto loans that match your budget while also ensuring you're getting the best interest rates possible.