Used cars: there’s plenty to love about them, from their inexpensive price compared to brand-new models, to the fact that they don’t lose nearly as much value once driven off the lot. A used car can be an excellent way to upgrade your ride without breaking the bank. However, there are some important red flags that all used car buyers should look out for before heading down to the dealership. If you opt for a used or pre-owned vehicle the next … [Read more...]
Car Insurance Deductibles: How Much Can You Afford?
Do you know how much you can afford when it comes to setting car insurance deductibles? There are many things to consider when trying to sort out your car insurance options. It is best to go into that process knowing as many of your options as possible. The Variables Setting your car insurance deductibles means examining several areas of your personal finances. That includes your money needs, emergency fund, your current amount of disposable … [Read more...]
Auto Loans: Three Financial Mistakes To Avoid
Are you planning on buying a car and need an auto loan? There are three financial mistakes to avoid when you’re in the market for a new car, truck, pickup, or SUV that can make a big difference in your bottom line. Car Buying Mistake #1: Not Shopping Around For A Dealer Why is this a financial mistake? It’s not just that you want to compare prices. That truly is one of the most obvious financial benefits of shopping around for a car dealer. But … [Read more...]
Should You Get Rid of Your Car?
Lately on personal finance sites, I've seen a lot of advice recommending that people reduce their expenses by getting rid of their car. What should you consider before you get rid of your car? Where do you live? First and foremost, where do you live? I personally can't imagine giving up my car while living in my hometown. Rural midwestern community, zero public transportation, a single Uber driver (at last check), and very little in terms of … [Read more...]
What happens when you pay off your car loan?
After taking a hard look at my finances at the end of 2018, I decided that I would take money out of my savings account to finally pay off my car loan. If I continued with my accelerated payment schedule, I would have paid it off over the summer, but I decided I just wanted to be done with it. So I made the final payment the first week of January. I made the payment online, and confirmed over the next few days that my loan balance was now … [Read more...]