Family Car Loan Values

Finding the Perfect Wheels

From the Beach Boys' "409" to Prince's "Little Red Corvette," cars have long been sources of inspiration and entertainment. Vehicle strength, speed, and personality have all found their way into lyrical expression. It hasn't happened yet, but someday the radio waves may also carry the ballad of automotive safety. No matter what, before you take out a car loan, investigate the safety of the auto that suits your family best.

Safety stats

Vehicles are tested on many different parameters, but two of these are particularly relevant to families with children:

-Crash protection. The National Highway Traffic Safety Administration (NHTSA) administers full frontal and side impact crash tests, which reveal how well a car's safety belts and airbags protect its passengers. Vehicles are rated on a five-star scale, with more stars indicating a lower chance of serious injury. Certain types of rear side-impact air bags can, upon deployment, potentially injure children. To minimize this risk, the Technical Working Group developed voluntary side-impact air bag guidelines. Compliant vehicles are rated M for "Meets Requirement."

-Rollover resistance. The NHTSA also measures rollover resistance on a five-star scale. This rating is based on a dynamic rollover test, and physical calculations of the vehicle's center of gravity and track width.

Choosing and purchasing your family car

Low rollover statistics, good crash-test ratings, an M rating on side-impact air bags, plus anti-lock brakes and electronic stability control, should all be on your must-have list. You can investigate this material online. Check the vehicle's driver's seat blind spots, the accessibility of window switches for straying little fingers, and the ease of the child-seat attachment system.

Once you've triple checked and approved the safety features, a salesman will no doubt appear with a car loan contract and financing agreement in hand. Remember, you're not obligated to accept the dealership's financing. Shop around for the best rates by checking with consumer banks, online banks, and credit unions. If you're a homeowner, compare home equity loan rates or consider a mortgage refinance, as this may be an economical option for you.

With this lingo floating around in your head, you might be inspired to express your newfound safety knowledge in song. Just make sure that the kids are buckled in before you head off to the recording studio.

Car Loan Tips