When shopping, consider whether you really can afford the model you want to buy. If it’s necessary to take out a six-year loan to afford the monthly payment, it may be wise to choose a less expensive ride, said Mr. Giorgianni of Consumer Reports.
Automobiles
Automobiles: Buying vs. Leasing
There are many things to consider when deciding whether to buy or lease your next new automobile. To help you decide, we are reprinting an excerpt from www.leaseguide.com, with their permission. This website will give you the answers and information necessary for you to make an educated and informed decision.
Check for a recall before purchasing that car!
An auto recall means that a specific vehicle may not meet safety, operating or emissions standards. Recalls can be issued by the either the manufacturer or the Environmental Protection Agency (EPA), according to the Recalls website, which is provided for consumers by the government. Recalls are covered by the manufacturer at a same-make dealership free of charge.
Long Term Auto Loans may not be a Good Idea
In 2015 we saw record sales of 17.5 million vehicles, thanks in part to an improving economy and by easy credit: Consumers, many with marginal credit ratings, are borrowing higher amounts and for longer loan terms than ever before.
The Consumer Perils of a Car Title Loan
Is it worth the risk of losing your car for a loan that charges 300 percent interest?
That’s what’s at stake when you take out a car title loan, a lending tool in which an individual uses his car as collateral to borrow money. But despite the potential long-term risks, it’s a less-known form of subprime lending.
Have a Teen Driver? Learn How to Save Money on Insurance
Did you know that adding a teen to a car insurance policy could increase premiums from 100 percent to 355 percent, even if the teen is just driving the family minivan?
Are You Buying A Lemon?
Buying a vehicle can be both a stressful and rewarding experience, especially if you plan on purchasing a used vehicle. Even if you get great financing and find the exact car you want with all the extras, there is still a chance that the car may not be as reliable as you hoped. To avoid any future headaches, and empty bank accounts, be sure to do all of your homework first.
Car Insurance
Congratulations, you have just purchased the car of your dreams; you worked a great deal, now it is time to insure it. Car insurance is mandatory in all states, and must be maintained throughout ownership. Insurance quotes can vary from company to company, and there are a few factors that you can control, and other factors you cannot.