Pay Cash for Your Car

A car is not an investment; it simply helps you get from point A to point B. If you are in the market for a new vehicle, consider the following tips to save money in the process. 1. Pay cash for your new car. Make every attempt to minimize the amount you borrow to purchase a car. Whether it is new or used, a car instantly loses value. This is different from a home purchase for example, where the cost of borrowing is often eliminated by the increase in equity over time. 2. If you don’t have enough cash saved … Continue reading

Are you Upside Down on Your Car Loan?

Are you upside down on your car loan? When you are upside down on a car loan, it means that you owe more on the loan then you can sell the car for. This happens when you trade in a car for a newer one and the dealership roles your old loan into your new one. It can make it very difficult to get ahead when you make this move. If something were to happen to your car, your insurance would not completely pay off your loan, and so you would need to continue to pay on your old car … Continue reading