Wednesday, July 23, 2008

SAVINGS 101: New Car Buyers ... Wait

So you're thinking of buying a new car. Is now the time?

* Gas Mileage
What is the gas mileage of y our car? With gas prices rising you may want to take this operating expense into heavy consideration.

* When the Bank Owns Your Car
Who owns the car? Do you own your car or does your bank? If you are done making payments on your car, do you really want to start now? What is the actual value of the car? If you sell the car, will you make any money towards a new one?

*Cost to Insure
If you're thinking about buying a brand new hybrid or compact, you may want to think again. It will save you money in gas expenses however if it is a brand new car it will cost much more to insure.

*What to Buy
When it is time to buy, we recommend you buy a slightly used car that has been well maintained and is in good condition. This way you can forget about the depreciation that comes with buying a new car.

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