All Posts in "BUSINESS AUTO"

The Crucial Distinction: Unpacking ‘Car Life Insurance’ and Protecting Your Family

For many, a new car brings excitement, freedom, and – often – a significant loan. As you sign the paperwork, you might encounter an offer for something vaguely termed “car life insurance.” This phrase, while seemingly reassuring, can be deeply misleading. What exactly are you being offered, and more importantly, what type of insurance truly protects your family’s financial well-being if you were no longer there to make those car payments? Let’s unpack the crucial distinction between credit life insurance for your car loan and comprehensive personal life insurance.

Deep Dive: Credit Life Insurance for Your Car Loan

When a lender offers “car life insurance,” they are almost certainly referring to credit life insurance. This is a specific type of policy designed to protect the lender, not your family directly. Here’s how it works: if the borrower (the person who took out the car loan) passes away, the … READ MORE >>>

Lawrence Corbett by — October 27, 2025 in Auto Insurance
Mastering Auto Financing: Your Guide to the Best Car Loan

The excitement of buying a car can quickly turn into anxiety in the finance office. For most people, auto financing is one of the most expensive and least understood transactions they will ever make. The biggest mistake buyers make is relying solely on the dealer to arrange financing. This cedes control of the negotiation, often resulting in higher rates and thousands of dollars in unnecessary interest over the life of the loan. Successful auto financing is a battle won before you start shopping for the car, by establishing direct lending through pre-approval.

Know Your Financial Scorecard

Before you even browse listings, you must understand the financial metrics that determine your borrowing cost. The lender uses three critical factors to set your rate:

  1. Credit Score: Your FICO score is paramount. Buyers with scores above 740 typically qualify for the lowest promotional rates. If your score is below 680, dedicating time to
… READ MORE >>>
Lawrence Corbett by — September 27, 2025 in Auto Financing
Driving the Volatility: The Boom, the Bust, and the Economic Forces Reshaping the Used Car Business

The used car market is the largest, most active segment of the global auto industry, yet for decades it remained predictable, defined by consistent depreciation. That changed dramatically over the last few years. At one point, used car values were appreciating faster than many assets, leaving both dealers and consumers reeling. This period of unprecedented volatility was the result of a perfect storm of supply shortages and unusual consumer demand, and its ripple effects are still profoundly reshaping how the car business operates for dealers, lenders, and everyday drivers.

The Anatomy of the Boom (2020–2022)

The seismic shift in the used car market began with a cascade of failures in the new car supply chain. The primary catalyst was the semiconductor shortage. Modern vehicles require dozens of advanced computer chips, and when global chip production slowed or halted during the pandemic, major manufacturers were forced to drastically cut production. … READ MORE >>>

Lawrence Corbett by — July 27, 2025 in Automotive Business
How to Launch a Mobile Car Repair Service From Home

Are you a car enthusiast with a passion for fixing vehicles? Do you want to start your own business without the overhead costs of a traditional garage? If so, launching a mobile car repair service from home could be the perfect opportunity for you. This article will guide you through the steps to establish and grow your mobile car repair service business right from the comfort of your own home.

1. Research and Plan Your Business

Before starting your mobile car repair service, it’s important to conduct thorough market research to understand your target audience and competition. Identify the specific services you will offer, such as general repairs, oil changes, brake services, or diagnostics. Create a detailed business plan outlining your services, pricing, target market, and marketing strategies.

2. Obtain Necessary Licenses and Permits

Make sure to check with local government authorities to obtain any required licenses and permits for … READ MORE >>>

Lawrence Corbett by — October 17, 2024 in Automotive Business
Tips for Securing the Lowest New Car Loan Rates

Securing the lowest new car loan rates can save you a significant amount of money over the life of your loan. With the right strategies and knowledge, you can position yourself to obtain a favorable interest rate on your new car purchase. Here are some valuable tips to help you secure the lowest new car loan rates:

1. Build a Solid Credit History

Lenders use your credit history to assess your creditworthiness and determine the interest rate for your car loan. A strong credit score and a history of responsible credit management can significantly increase your chances of qualifying for lower interest rates. Be sure to review your credit report for any errors and strive to maintain a good credit standing before applying for a new car loan.

2. Shop Around and Compare Offers

Don’t settle for the first loan offer you receive. It’s essential to shop around and compare … READ MORE >>>

Lawrence Corbett by — September 8, 2024 in Auto Financing