Online Car Insurance

Online Car InsuranceOnline car insurance companies took an industry that was not very consumer friendly and turned the tides. Living in New Jersey right before hurricane Sandy impacted our coast residents saw numerous advertisements from large online car insurance companies broadcasting how to file a quick claims to get their car fixed or replaced if we were affected by the storm. We finally have car insurance companies that put just as much emphasis on our claims as they do the premiums they sell us.

Car insurance over the past ten years have been infiltrated by online car insurance companies forcing the traditional firms to either compete or get out of the business. The changes in the insurance business are truly a testament what competition can do to an industry.

The secret to their low premiums and for the most part improved service comes from their efficiencies and larger insurance pools. A large insurance pool allows these companies to spread their risk over their customers.

We have also seen that expansion of specialty car insurance companies online. If we are looking to insure an exotic car, muscle car, sports car, classic car, hot rod or even a race-car, it seems every day there are more options available.

Not all online car insurance companies are obviously good, so this is where we as consumers need to do some research online and with family and friends, since actions speak louder than words. One thing is for sure, online car insurance companies took an industry that scared most people and made it easy.

The above information represents the authors opinion based on personal experiences and does not represent any type of financial advice.

Classic Car Loans – Collector, Exotics, Muscle, Hot Rods, and Sports Cars

classic car loansWhen it comes to realizing a dream car, for some of us we need the assistance of classic car loans. There are some, who believe that if you can’t afford to buy a classic car outright then you should be buying one at all, but we are not here to discuss different opinions but rather what types of classic car loans are available for those of us who need options.

In the following article we will discuss different ways to finance a classic car with current available options:

1. Classic Car Loans: There are loans specifically meant for collector classic cars. Typically we will not see large lenders dabbling classic car loans, so this product is left to niche lenders. These loans typically have prerequisites of what type of vehicles they will finance and offer varying terms. Depending on the value they also are know to offer longer-term loans. With these types of loans they are known to require a down payment on the vehicle.

2. Credit Unions: This is probably one of the most desired solutions to financing a classic collector car. Credit unions typically offer extremely competitive rates and attractive terms in my opinion. From personal experience, I financed a collector car with a credit union and received the same fantastic interest rate and terms, as I would have if I purchased a 2-year-old car. The most important factor to determine first is whether they finance classic cars. To easiest way to find out if they do finance classic cars is to ask what type of vehicles qualify for their used car loan i.e. age, type, etc.

3. Personal Loans: This is probably one of the least desirable methods of financing a classic car, since it carries typically the worst terms, because it is considered an unsecured loan.

All of the above options obviously carry different required qualifications with credit, income, assets, etc. Please keep in mind also that does not endorse or represent any lenders and this article does not represent any type of financial advise and is merely opinion of the writer.

Since the real estate crisis other options to finance a classic car have become more difficult to obtain. In the early 2000’s home equity loans were a very popular method, but unfortunately these loans have become harder to obtain and less of a reliable source for classic car loans.

Porsche 996 – The Most Unloved 911 Carrera and Turbo for sale

Porsche 996 Turbo 2002

2002 Porsche 996 Turbo with GT2 Wing

In 1998 Porsche released the 996 model, which was a monumental change in their legendary 911 Carrera and Turbo series, they switched from an air-cooled to a water-cooled engine. This change as well as its different design is probably why the Porsche 996 is regarded today as one of the most unloved generations for sale to date, as reflected in current resale values.

Porsche was compelled to switch from their legendary air-cooled flat 6-cylinder (horizontally opposed) engine to a water-cooled version due to more stringent noise restrictions (especially in Europe) and environmental concerns. Not only where government restrictions pressuring Porsche to make the change, but they also hit a horsepower ceiling in their air-cooled engine.

The all-new Porsche 911 design came from designer Harm Lagaay. The design pushed the new 911 towards a more aerodynamic look with a more slanted windshield. With the design veering from previous generations and the changing to the legendary power source this irked Porsche enthusiasts everywhere. Too much change in too short of time. The 996 Porsche impacted the enthusiast base so much that the next 911-generation released, the 997, reverted in styling to previous ones while keeping the necessary power plant change.

The new Porsche 996 was released in 1998 with a 3.4 liter water cooled flat 6-cylinder engine producing 296hp capable of pushing the new 911 0-60 in 5.1 seconds. Their first water cooled power plant is known to have some issues, so much so that in 2002 (available in 2001 in the 9114S) they changed it to a 3.6-liter which improved its reliability. The 3.6-liter Porsche flat 6 engine was what powered the Porsche 993, which to most enthusiasts’ represents one of the most desirable air-cooled Porsches ever built. Although this was a water-cooled version it improved the 996 appeal to the Porsche fan base and improved its power to 320hp and 0-60 to 4.9 seconds.

The Porsche 996 still struggles to win the hearts of enthusiasts today creating one of the bargain 911s available on the market today. Pricing on the early models with the 3.4 liter are definitely stained due to the known issues, while the 3.6 liter models hold a somewhat stronger price, compared to previous models, the 996 is a bargain.

In 2000 Porsche released there new all wheel drive Turbo edition of the 996, which boosted the power to 420hp, 0-60 to 4.2 seconds and was praised by the automotive press as a triumph of engineering. Even this new Porsche 911 Turbo today represent the cheapest generation available on the market.

So what can we take from this discussion? Will the Porsche 996 produced from 1998-2005 remain an outcast or eventually gain the admiration of enthusiasts. Till then this model represents a cheap way to experience the legendary Porsche 911 engineering.

Porsche 996 Specifications (Specs) and model information:

1999-2001 Porsche 996 3.4 liter (911) Carrera
1998-2001 Porsche 996 3.4 liter (911) Carrera 4
1999-2001 Porsche 996 GT3 (911) Carrera
2001-2004 Porsche 996 3.6 liter (911) Carrera
2001-2005 Porsche 996 (911) 4S or C4S Carrera
2001-2004 Porsche 996 (911) Carrera 4 3.6 liter
2003-2005 Porsche 996 (911) GT3 Carrera

Porsche 996 Turbo Specifications (Specs) and model information:

2000-2005 Porsche 911 Turbo (996) (996TT)
2001-2005 Porsche 911 GT2 (996)
2004-2006 Porsche 911 Turbo S (996) (996TT)