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When you accept a new job, you tend to focus on the big picture. Your new salary, your number of vacation days, and the hours of your work week are some of the biggest things you will think about with your new position.But nowadays, there are so many additional perks that employees are offered, and oftentimes they aren’t even aware of what they are missing. Whether you just started a new job or you’ve had a steady job for years, there may be benefits available to you that you are not using to your advantage.Here we will look at some employee benefits that you may be missing out on.In order to determine exactly what benefits are available to you, it is important to look carefully through all employee paperwork you receive. If you have any questions, your human resources department should be able to answer any and all questions about your using your employee benefits. Below are some of the most common employee benefits.Employer Contribution Matching ProgramsMany companies will match your contributions for retirement plans, such as 401(k)s. This will vary greatly from company to company, but the two most common matching programs are partial matching and dollar for dollar matching. Partial Matching: Your employer will match part of the money that you put in. This depends greatly on your particular plan, but it is common for employers to match 50% of your contributions. This is usually capped at 6% of your salary (they will contribute up to 3% of your salary).Dollar for dollar matching: Your employer will match your contributions in full up to a certain amount. If you are dollar for dollar up to 3%, your employer will match only up to 3% of your salary.With either of these matching programs, if you are not contributing to your retirement plan, you are missing out on free money. It can be hard to budget for this type of savings, but if it is possible you should definitely take advantage. Health Savings AccountsThere are three main types of Health Savings Accounts that may be available to you: HSAs, FSAs, and HRAs.HSAs: In recent years employers have found it more cost effective to switch to higher deductible health insurance plans, which means that employees have to pay more out of pocket for their health care. This is where HSAs come in and can be very beneficial. These accounts are owned by the employee, and contributions can come from the employer and the employee. Money is placed tax-free in an account and can be used for qualified medical expenses. These are only available if you have a high deductible plan. Many companies will contribute money per year to offset the higher deductibles.FSAs: FSA’s are used in conjunction with health insurance plans. The accounts are owned by the employer and deductions are taken from paychecks as tax-free contributions. Employees can be reimbursed out of this account for qualified medical expenses. HRAs: These accounts are set up by the employer to offset medical expenses. Employers are the only contributors to these types of accounts, so you cannot add your own contributions. This money can be rolled over from year to year, so if you don’t use the total amount one year you can use it the following year. Employers may offer one or all of these account options, so do your research and decide what will work best for you and your family.Legal PlansCertain employers will offer legal group plans that can provide discounted rates for legal services. Participating firms will assist employees with many types of legal issues, from preparing a will to disputing insurance claims. Legal fees can add up quickly, so discounted legal help is a great benefit.Life InsuranceLife insurance is something that most young people do not think about acquiring, but if your employer offers it, you should definitely consider enrolling. The sooner you get life insurance, the more beneficial it will be to you in the long run. The earlier your contributions begin, the more you can accumulate in the account. If you get life insurance through your company, it may be free. Many companies guarantee one year’s salary in insurance if the employee enrolls. You can contribute additionally to this amount, and it is usually pre-tax. Life insurance is especially worth considering if you have a family or are the main provider in your household.Disability InsuranceLook into the disability insurance policy that your employer offers. Disability insurance can help you recover up to 70% of your missed salary in the case that something happens to you and you are out of work for a period of time. If you are able to pay your premiums with pre tax income, then it is definitely worth considering. If you are injured and unable to work without disability insurance, you will have to rely on your savings account, and it could be very harmful to your financial health.Dependent Care OptionsYour employer may offer dependent care FSAs. This means that you can set aside pre-tax money for reimbursement for child care or disable adult care. These accounts typically don't roll over funds from year to year, so it is important to determine how much money you will use for childcare per year and to not overshoot your estimate. This can save you money if you rely on daycare or have a nanny.Additional Employee BenefitsYour employer may offer many more types of benefits to employees. Some additional benefits may include:Free gym membershipTuition reimbursement or supportFree parkingProfessional development programsRead carefully through your employee handbook or guide to determine if there are any other benefits that you could be utilizing.Rollover BenefitsCheck to see which of your benefits can roll over from one job to another. If benefits do not rollover, such as FSAs, then time isn’t a factor as much. But if some benefits do rollover from job to job, like life insurance, the earlier you take advantage of the programs the more beneficial they are.  Don’t miss out on the employee benefits that may be available to you.Most employers offer some, if not all, of the benefits described above. Too many employees do not take advantage of these benefits and they miss out on saving loads of money. Maximize your employee benefits by researching what your company offers and discussing your options with your family.And if you are going through your finances to determine how your employee benefits can best be utilized, make sure to take a look at your car loan. Is your APR a bit high? Are your monthly payments too steep? Auto Approve can help you to find competitive offers to save you money on your car loan.Get a quote today to see how much money Auto Approve can save you.GET A QUOTE IN 60 SECONDS

Let’s talk about vehicle service contracts – what they are and why you could end up wanting one.See, as part of purchasing a new car, typically, repairs and mechanical issues are covered by the manufacturer’s warranty – for a few years. This coverage provides consumers with peace of mind when first purchasing the vehicle, but a few years down the line, it will fall on them to pay for these repairs that are no longer included in the contract. Since most cars last 5, 10, or even 15 years on the road (depending on the make and model), you can be stuck paying out of pocket to keep your car running smoothly for many years. After all, we all know that cars come with their fair share of mechanical problems over time. That’s why investing in a program or agreement that can provide you with mechanical coverage throughout the lifetime of your vehicle is worth considering. A vehicle service contract acts as a form of insurance policy as your car ages, providing you with the coverage you need while acting as an intermediary on your behalf.Here's all your questions answered about Vehicle Service Contracts.How Does a Vehicle Service Contract Work?Like an insurance policy, you pay upfront into your service contract. If your car ever needs any repairs covered, the provider will foot the bill on your behalf. This way, you don’t have to worry about any sudden repairs totaling thousands of dollars that can completely destroy your savings.In this article, we will give you an overview of vehicle service contracts, how to use them, and all other pertinent details related to providers, so you can make the best decision in the end. We have reviewed top extended car warranty providers and ranked them on things like customer service, coverage options, etc. below. What is a Vehicle Service Contract?As mentioned, a vehicle service contract is a paid plan that covers costly repairs after the warranty on your vehicle has transpired. Also called an extended car warranty, the service contact is available to both new or used cars. Note: as the car ages, the likelihood of frequent repairs increases, which means the contract will be quoted at a higher rate than one for a younger car.Is there a difference between a vehicle service contract and an extended warranty?The short answer is: yes. Vehicle service contracts do not extend a manufacturer’s warranty – only the manufacturer can agree to that. The contract mimics the factory warranty coverage as a third party, providing additional coverage that is not provided via the manufacturer. Also note: not all vehicle contracts are made equal, so be sure to check out the extended car warranty available to you as well and compare the two.What Are the Two Types of Vehicle Service Contracts?You have a regular and exclusionary contract option. The regular contract will list all of the things that are covered in the agreement. The exclusionary will list everything that is not. If possible, opt for the regular contract that does not use backward logic – it can be easier to identify what you are buying with the agreement.What Are Vehicles Service Contract Price Ranges?There is no one-size-fits-all when it comes to vehicle service contracts and pricing. The cost of the contract will depend on your vehicle’s make and model, as well as the condition of the car. It will also depend on what level of coverage you agree to, and if you want the provider to cover 99% of breakdowns and repairs. Just like an insurance policy, if your car is older and riskier to the lender, they are going to require that you pay more for the contract.In general, these contracts can range from $199 to $1,000. Most vehicle contracts will fall into the $350 to $750 per year range. You will want to compare how much typical repairs for your vehicle will cost, when compared to this coverage. If you figure that you will owe around $1,000 this year in repairs, then taking on a $500 contract may make sense.How Do I Use My Vehicle Service Contract?You can access the contract anytime your vehicle needs a repair. Like any insurance company, all vehicle service contract providers will include different tiers of coverage. Not every tier is going to cover every possible repair, which again, is why you will want to review all details before agreeing and signing. Each provider will also have their own process as to how claims are filed, and ultimately, covered. Some providers will require that you pay for the repair and then they reimburse you. Other providers will partner with repair facilities and not require this kind of capital be fronted in order to engage with the repair. It depends on your cash flow and what you know is possible for your finances.Vehicle Service Contract Exclusions to NoteWhen you purchase this contract, you will want to review it carefully. Most contracts will list all of the parts that are covered, however, should you find yourself with an exclusionary contract, you will want to review what is instead, not covered. Even if it appears that the repairs that you do want to be covered are not on the exclusionary list, you will want to clarify with the company exactly what their contract means.Should I Purchase a Vehicle Service Contract?These contracts can make a lot of sense for used vehicles, which can come with complications down the line that you were not originally aware of. If you purchase the vehicle from a reputable brand, it is recommended to first inquire into the extended warranty package and how it compares to a rate from a vehicle service contract. And that’s everything you need to know about Vehicle Service Contracts.For many people, knowing there is a ceiling on how much they are going to pay for their vehicle’s repairs is all they need. Here are Auto Approve, we are proud to provide you with the real, genuine information you need to make smart decisions for your vehicle. We hope you have found this article to be helpful and informational.

It can be easy to get caught up in the car leasing gimmicks that are floating around all media and advertising spaces today. Many of these ads will claim that a lease is only $58 per week or $139 bi-weekly. These companies will state that it is easier to get into a new vehicle through a lease than it is by outright buying the vehicle.It may sound wise in nature, yet this is not always the case, and we want to talk about it in this article. In reality, leases are often much more expensive than they advertise and end up costing more than just financing the car in the end. How does this happen? Through the fine print, hidden fees, and extra costs that come with breaking leases or engaging in something that is not included in the confusing contract you sign when you agree to a lease.In order to protect yourself from unknown fees before you sign that dotted line, we’re going to look at some of the hidden penalties you should review in a car lease.Fees at the End of a Car LeaseHidden Interest and Taxes: Interest and taxes are surely applied to your car lease, even if it’s something they leave out of that ‘$58 per week’ marketing ad. When these two elements are factored into the equation, it’s more like $80 per week, and that’s just with the terms provided when financing a car. This can vary based on state, county, and dealership, which is why you should always factor in a lofty sum of money to cover interest rates and taxes.Can I negotiate these lease charges? Although you may be able to negotiate other elements of the lease, you will most likely be unable to negotiate the interest rate, much less the taxes. Be sure to check if there are any tax breaks available in your state for a car lease (note: they are usually not enough to compensate for the high-interest rates that are charged by dealerships today).Administrative Fees (Twice): Dealerships will apply two different administrative fees to your lease as a part of doing business with them. The first fee will come when you initially lease the car. The second fee will come when you return the car after the lease is completed. These fees can be as much as $750 each time, justified as a way to compensate the administrative staff that will have to process the paperwork for the termination of the lease.In most cases, the average consumer is not surprised to see that fee the first time they take the car off of the lot. But, when they see the fee again after they return the car, they are shocked to learn that an extra $1,500 in total was omitted from that monthly payment number when they first inquired about the car lease.Termination Fees: Yes, you will be penalized if you decide to terminate a car lease before the agreed-upon date. You are probably thinking to yourself: but why? Isn’t the dealership receiving the car back in a better condition than if I had kept driving it? Whether you are moving, downsizing, or lost your job, any of these reasons will make it necessary for you to terminate the car lease. And, you have that right to do so, but you will be hit with a termination fee. The fee amount will vary based on the information in the lease you signed. Many people will find they end up paying the full amount of the lease via the termination fee, even if they turn the car in a year early. Be sure to ask the lessee to disclose what this fee is to you if you predict yourself needing to terminate the lease prematurely.Mileage Variations: A general car lease will enable people to drive 12,000 to 15,000 miles per year, give or take. If you go over this mileage count, you will have to pay for it – at 10 to 20 cents per mile. If you do the math, that means you would owe $1,800 on an extra 3,000 miles you drove over the preset amount. Extra mileage is one of the biggest ways a dealership makes a profit off of this lease – they can almost count on you breaking the agreement. If you predict yourself needing to drive a fair amount in the coming years, this is a major reason why a car lease may not make sense for you.Mileage Punishment – Auction Fees: Not only are you going to be slammed with fees per mile that you go over the agreement, but the dealer also reserves the right to tell you that you have to sell the car returned at auction. This means you are responsible to cover the difference between what the car sells for at the auction, and the initial value of the car that was configured based on the pre-defined mileage count. So, let’s say the dealer figured the car would be worth $13,000 after you returned it within the mileage count. If you go over that mileage count and the dealer determines the car is now worth $10,000 at auction, you are required to cover the $3,000 difference that they ‘lost’ as a result of your negligence. As you can see, this gives the dealer way too much wiggle room when it comes to the interpretation of the car’s worth. This is something you will want to hash out with the dealer before signing any paperwork. The Down Payment Omission: And finally, back to that $58 example above: this is a payment amount that is described after the down payment has already been put down on the lease. If you put a $5,000 down payment on the lease, your bi-weekly payment may only be $100 or $200 because you already paid handsomely to drive the vehicle. The moral of the story: that ad-based monetary amount is false.Need help refinancing your vehicle? We recommend you talk with our team first before signing any leasing paperwork. Auto Approve is here to help.GET A QUOTE IN 60 SECONDS

Plans change, things happen, and unexpected events can throw us totally off-course from what we thought we needed in our daily lives. When it comes to the terms of your auto agreement, a lease might have seemed like an apt solution at one point; yet, due to circumstances out of your control, being in a car lease no longer makes sense for you.Fear not, millions of people find themselves in a similar predicament throughout the year, which is why it’s not uncommon to want to learn how to get out of a car lease contract early.It’s no secret that figuring out how to get out of a car lease agreement early can be a costly and lengthy process. But, you have options at your disposal that can make the entire experience more bearable, and we’re here to discuss them with you today. Whether you lost your job and can no longer afford the payments, or you need to outright own your vehicle for whatever reason, it’s time to investigate the alternatives that can put you into a better financial situation. Based on our research, we are going to provide you with 3 potential options below.How to Get Out of a Car Lease Early: 3 Routes1. Terminate the Lease Early: In many arrangements, your leasing company will offer you the ability to terminate your lease prematurely. This means you are free from making the remaining payments on the currently leased vehicle. But, in order to do this, you will have to turn in the car and pay the entire balance that is due, as well as the costs and fees that are probably going to be slapped onto the early termination. Remember that the Consumer Leasing Act does mandate that all of these details are included and available for you to review in the lease you have on record.So, let’s say you go for this option. The company may charge an early termination fee, which is normally the balance between the remaining balance and the credit you will receive from the value of the car. You may also have to pay a disposal fee, transfer fee, and taxes. All of this is disclosed inside of the signed lease.The fastest way to know what this total is going to be is to call up the leasing company and ask them point-blank what the total is going to be. You may also have to pay late fees, parking tickets, or anything else that has been accumulated as part of your leasing account.Since a car’s value typically depreciates more upfront, the earlier you terminate the lease, the higher the cost is going to be on your end. In many cases, the termination cost may be so high, that it makes more sense for you to complete the lease as agreed upon. If you don’t have the financial means to do this, you may need to finance the costs if it’s a life-or-death decision.2. Transfer the Lease: As you can see, terminating the lease may not be the most cost-effective option for you at this time. But you have another option: transferring the lease to a new lessee. In order to engage in this option, it needs to be one that is legal in your state, in accordance with your lease terms, and the party you are transferring the lease to needs to satisfy the requirements set forth by the lender.Don’t be fooled: this option will still come with hidden fees, like the lease transfer fee and other costs that will pop up. You should do your due diligence and ask for a final total from the leasing company before you opt for the early termination. If you are struggling to find a company that you can transfer your lease to, you can consider using a service that connects you to a new lender.3. Buying Out Your Lease: Depending upon the scenario, buying out the car entirely may be one of your best options with early termination. Yes, there are still fees involved; but, it’s worth running the numbers and seeing if an early buyout, along with the associated fees, comes in at a lower amount of what you could get if you go through with selling the car on your own. Or at least, if selling the car thereafter is still a feasible financial option when compared to the other two options listed above.Do note: in order to pursue this solution, you need to have the funds available to pay the early buyout fees. If you don’t, you will need to factor in buyout financing as part of the deal.If the market value of the car ends up being higher than the leasing company predicted it would be, a lease buyout may be the perfect solution for you and your wallet.Bonus: if you are leasing or purchasing another car when you terminate the car lease early, you may be able to roll over the amount you owe on the car you are returning to the amount you are financing for a new car purchase. This will create a higher monthly payment, but it at least will be one singular payment that may be easier for you to manage and pay off.Is it a Good Idea to Get Out of a Car Lease Prematurely?In many cases, you may have no other choice. If you go through all scenarios above and receive quotes, you can compare them and see which one makes sense. If all three options still clock in higher than your monthly leasing payment, you may want to consider financing – or – sticking with your car lease until the contract is terminated.Note: many people buy out their leases to avoid excess mileage fees, especially if you drive more than was agreed upon initially, or because used car values have increased recently, making your current vehicle worth more than the dealer thought it would be several years ago.The worst thing you can do is agree to one of these options without hearing the final monetary amount, first. Don’t be afraid to demand that from your leasing company: it’s a service they owe you as your lessee. Are you ready to get out of a car lease contract early? We hope this article helped.GET A QUOTE IN 60 SECONDS