Help & Advice
Buying a Car
The first choice most people make when they decide to get a new car is whether or not the car has to be brand new. There are many advantages to buying a pre-owned vehicle, price being chieft among them. A car's value declines substantially over time, so buying a car that's just a year old can slash several thousands of dollars off the purchase price.
Buying a New Car
When you buy a brand new car, you don't have to worry about possible mistreatment from previous owners. You get to choose the options and features you want, and you get to inhale that new car smell. You also have more room to haggle with dealers, because if one dealership doesn't meet your price, the one down the road just might.
Buying a Used Car
The main risk in buying a used car is the unknown. It's not always easy to determine if a used car is in good shape. Once you provide the vehcile identification number, research sevices can tell you a great deal about your car's history. Some used car dealers will also warranty used cars to protect against any hidden defects. Pricing used cars is a challenge because you have to consider the car's history and condition, which are never the same for any two cars.
How to Save Money on Your Next Car
When buying a car, the best defense is a strong offense, which in this case is supported by all the information available on the Internet. You can learn the approximate value of any car fairly easily with a few visits to manufacturer's websites, discount superstores, and independent car buying services, like Edmunds and Kelly Blue Book. A few hours spent entering makes, models, and options can help narrow your possible choices before you even leave the house.
After some time researching, you should focus on a few specific makes and models. Learn as much as you can about them, and make lists of the options you need, the options you want, and the options you can do without. Remember some items, like sounds systems, can be added later.
Consider All the Costs that Drive Up the Price of a Car
The car's make and model and the options you pick all have a big impact on the overall price. But don't forget the other costs you'l have to eventually pay, like repair and maintenance, gas, insurance, taxes, registration, and delivery costs. You may be able to afford the payments on a new SUV, but can you afford to fill it up with gas a couple times a week to meet your commute to work?
Establish the extra costs involved in purchasing a car before you make that final decision to buy. A call to your insurance agent should give you a good idea of what it will cost to insure the make and model you're considering. Be sure to ask if adding an anti-theft system or anti-lock brakes would reduce the premiums. Then ask if you could save more with a comparable model.
Driving Off the Lot
Before you leave the dealership, you still have to sign papers and take possession of the vehicle. Be sure to read and understand everything you sign. Verify calculations and question anything that doesn't make sense to you.
When you finally get your car, go over everything again. Ask to meet the service manager and schedule a three-month maintenance check. This is where you cash in on the dealer's much-advertised customer service. Make sure to get what you paid for.
Your car's value decreases the minute you drive it off the lot. Taking care of it, with regular maintenance and cautious driving, is the best way to extend the value of your purchase and prevent the purchase of another vehicle for a few more years.
Buying a House
Buying a house is probably the most important decision any family ever makes. The process involves making a series of choices that will influence not only where you live, buy how you live and how much money you'll have to live on at the end of the month. Whether you're buying your first house, buying a bigger house, or considering the purchase of a vacation home, it's important to consider the emotional and the financial implications of every decision you make along the way.
Where You Want to Live
You probably have a good idea about where you want to live—the state, the city, and the town, maybe even the neighborhood. Choosing your home's location involves many considerations:
- Do you prefer an urban, suburban, or rural environment?
- Do you want to be close to family or work?
- Is public transportation easily accessible?
- Does the community have the stores and facilities you prefer?
- How are the local schools?
- Can you afford the property values, including taxes and insurance?
- Are the neighbors likely to be "your kind of people"?
How Much House is Affordable
Lower interest rates on mortgages and the growing availability of zero-down payment loans, and even negative equity, have made it possible for many families to buy homes they never could have afforded in the past. Unfortunately, some experts say this "creative financing" is also driving up real estate values, making families overextend themselves just to get a nice three-bedroom house in a relatively safe community.
Getting pre-qualified or pre-approved for a mortgage can help answer a big part of the financing question, because the mortgage lender will ask you a series of questions and use the information to determine how much money they're willing to lend you. Among the things mortgage lenders consider are:
- Your credit history.
- Income and income prospects, since you'll be paying off your mortgage for 15 to 30 years.
- Debt and other financial obligations. The more money you owe to to other creditors, the less money is left at the end of the month to pay a mortgage.
- The amount of a down payment. The more cash you put down on a house, the less money you need to borrow.
- Mortgage type, because lenders want you to be able to make monthly payments on time. They'll tell you how much of a payment they think you can afford.
Feeling at Home in Your New House
The most important consideration in buying any house is to make sure you're going to feel at home once you get there. If you're struggling every month to pay the mortgage, or you're all fighting for time in the only bathroom, you're going to wish you could rewind the clock, do proper research, and make a better decision.
Take the time to find the right house at the right price; it's worth the effort.
Lottery & Prize winners 1-866-419-0181
Settlement Claims 1-866-419-0182
