How To Buy Used Vehicles Debt Free
New cars are one of the worst purchases that we can make due to the rapid decrease in value, especially over the first three years. When we finance these vehicles, this turns a bad situation even worse. We have now added a couple thousand dollars in interest to the cost of a depreciating item.Used cars are the answer to avoiding this big hit in depreciation, but many people still finance the used car. Let's take a look at how you can buy used vehicles even when you have very little to start with. Let's assume you wanted to purchase a 2005 Accord for $20,990 and financed it for 6 years at 5.95%.
The payment would be $341.85 per month for a total amount paid over the life of the loan of $24,613.40. That includes $3,623.40 in interest paid.Since you had decided that you could afford the $341.85 payment to the finance company, we assume that you can afford to pay yourself $341.85 into a savings account.We round off this savings and do not account for any interest and assume that you save $4,000 each year. We will also assume that you can drive your current jalopy for one more year while you save this money.January 2006 you now have $4,000 saved and can afford to buy a 1992 Honda Accord.January 2007 you can sell the 1992 for $1,400, add another $4,000 to it and buy a 1995 Honda Accord.January 2008 you can sell the 1995 for $2,000, add another $4,000 to it and buy a 1997 Honda Accord.January 2009 you can sell the 1997 for $2,300, add another $4,000 to it and buy a 1999 Honda Accord.January 2010 you can sell the 1999 for $2,600, add another $4,000 to it and buy a 2000 Honda Accord.In January 2011 you have reached the value of used car purchases where selling the 2000 and adding $4,000 to it will not substantially upgrade your car, so you continue to save.January 2012 you can sell the 2000 for $2,400, add $8,000 (two years of savings) to it and buy a 2006 Honda Accord.Now we can compare the two decisions. If you had bought the new 2005 you would have a paid off 2005 in 2011 and you would have paid interest ($3,623.40 to be exact) on top of the purchase price. Using our example you could have had a 2006 one year later in 2012 completely paid off and your money made interest for you while in your savings account.These numbers are all conservative and you could do much better by continuing to save and delay your used car purchases longer than one year.
This would be the best thing to do so that you do not keep losing value on selling cars.For example, if you kept saving and bought a used car every two years you could have bought a 2008 Honda Accord in 2012 completely paid for. When you stretch out your used car purchases while continuing to save, you can purchase much newer vehicles. With this method you can always purchase newer used cars and never pay interest to anyone.The key to making this work is the disciplined savings. If you have decided that you can make a new car payment, you can put the money in a savings account earmarked for used cars.Also remember that since you do not have a car payment, if you have a financial problem like a job layoff etc., you will not have to worry about losing your vehicle. Driving paid for used cars is a wise financial practice.
It is said that it is the millionaires that purchase and drive used cars. It is those in deep debt that drive new and leased vehicles.The prices for these vehicles all came from Kelley Blue Book. The purchase prices are just under the KBB retail value and the selling prices are just over the private party value. The values that I used were conservative and you could do much better, especially if you hold onto your vehicles longer while continuing to save..
John Cook is the author of Finance For Families.com, a website designed to assist families in making smart financial decisions. The burden of seemingly insurmountable debt is destroying too many families. You can read more at http://www.financeforfamilies.com.How to Start An Art Collection On a Shoestring Budget
Copyright 2006 Monique Hawkins
Collecting is a hobby enjoyed by many. Some collectors enjoy collecting all kinds of collectibles such as music boxes and other mechanical music, cars, jewelry, figurines, and many other types of items. Then there are those who enjoy collecting art. As a matter of fact, many individuals are inclined to forgo reprints and posters and start collecting their own unique art pieces for their homes and offices. If you are one of these people, here are some tips on starting your own unique art collection.
Before beginning an art collection, ask yourself if you interested in starting your own collection of original art.
Keep in mind that if you, like most people, do not have thousands of dollars to spend on famous original artwork, then it's time to consider alternative creative sources.
For those who are short on time and are not particularly interested in cultivating their own tastes, an option you have to rent from...
Used cars > How to Start An Art Collection On a Shoestring Budget
Getting the Dirt on Paint Protection
(ContentDesk) September 30, 2005 -- Like bears preparing for hibernation, a typical autumn day finds many of us getting our cars and trucks ready for the onslaught of the winter elements.
Washing and waxing our vehicles has become almost as much of a fall tradition as the first kickoff of football season or family foray into a pumpkin patch.What would you say if you could make polishing your car an every three-to-five year event, rather than an annual one?
Thereby freeing you up to toss the pigskin around, pick apples for a homemade pie, or jump into that pile of freshly raked leaves?Glenn Canady, president of 5 Star Technologies, Inc., makers of the 5 STAR SHINE (www.5starshine.com) patented paint polishing formula, answers these, as well as other frequently asked car care questions:What types of external and environmental factors impact my vehicle's paint?If it's flying in the air or...
Used cars > Getting the Dirt on Paint Protection
Company Responds to Big Vehicle Blind Zones With Wireless Obstacle Avoidance System for Pick Up’s and SUV’s
Irvine, CA (ContentDesk) July 19, 2006 -- EchoMaster?, the premier manufacturer of obstacle avoidance detection systems and accessories introduces the Dolphin? SonarStep, an innovative backup sensing device for Pick Up trucks and SUVs with trailer hitches.As you back up your vehicle the Dolphin? SonarStep silently scans for objects in your blind zone. Unlike devices that utilize cameras and a screen that can be affected by sun glare or a dirty camera lens, the Dolphin? SonarStep offers both an audible and visual alert when an object is detected and notifies the driver of how close they are to an object with a series of warning tones. The scanning zone measures approximately seven feet out from the rear bumper and up to 8 feet in width providing confidence for drivers of even the largest SUVs and pick ups. The unit installs in 30 seconds and simply plugs into the trailer hitch - no wires to cut, no holes to drill. Utilizing high-tech RF technology, the Dolphin? SonarStep allows wireless...
Company Responds to Big Vehicle Blind Zones With Wireless Obstacle Avoidance System for Pick Up’s and SUV’s
Used cars > Company Responds to Big Vehicle Blind Zones With Wireless Obstacle Avoidance System for Pick Up’s and SUV’s
Premium Quality Auto Parts: Complementing Lincoln's Most Notable Luxury Cars
(ContentDesk) September 10, 2005 -- When we speak of luxury vehicles, only a few stand out in the market. Among them is the Lincoln marque. In 1998, Lincoln was adjudged as the best-selling luxury vehicle in the United States, besting top luxurious Euro makes. This only speaks of Lincoln's exemplary driving abilities, high-class features, top quality Lincoln Parts and Auto Parts plus its superior design. Lincoln's impressive engineering is inspired by Ford's century-old experience in the auto industry.
As one of the divisions of Ford Motor Company, Lincoln vehicles share with Ford models major auto parts from chassis to suspension and powertrain components.Top models of Lincoln include the Lincoln Continental, the Lincoln Navigator and Lincoln Town Car. Among these, the Lincoln Continental made the most headlines. It was first made exclusively for Edsel Ford's spring vacation but since it received great remarks from Ford's friends and colleagues, he immediately ordered its production....
Premium Quality Auto Parts: Complementing Lincoln's Most Notable Luxury Cars
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Child Charity Car Donations
Car donations are a great way to help a worthy cause. It is a good alternative to donating money, as it also helps you to get rid of an old unused car without the hassles associated with reselling it. Car donations can be made to special organizations that use the proceeds for charity work. The cars that are donated are sold and the proceeds are used for charity work. Some originations simply distribute the proceeds to other charity organizations.
Car charity donations are also a good way to get certain tax benefits while doing a good deed.
Car donation to an approved 501(C)3 charity organization is tax deductible under certain clauses. These are applicable for all kinds of cars.
Cars that are donated need not be in perfect working condition as they may be dismantled and its parts sold. However, before donating, make sure that the donation program is a qualified, 501(c)3 IRS registered charity since only such programs are eligible for tax deductions....
Used cars > Child Charity Car Donations
Why you should always use the correct motor oil in your car
Motor oil, coolant, clutch, transmission, power steering, and brake fluids are all vital parts of all cars.
They need to be regularly checked, topped up or changed whenever required to ensure that the vehicle operates properly.
The car owner's manual will show what the manufacturer believes to be the best regular maintenance schedule for the particular model.
Making sure that the advised service intervals are maintained may sometimes seem like an unnecessary expense, but it will help protect the car, preserve efficiency, increase the vehicles lifespan and reduce the risk of future unexpected bills.
Taking the correct care of a vehicle will not only help to ensure that it will run correctly and efficiently, but will also help to make sure that it is running safely.
It is also important to note that many vehicles' warranties will become invalid if the manufacturer's service requirements are not scrupulously followed.
The...
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Laptop Computers Instigate a Classroom Revolution
Have you noticed that laptop computers are beginning to dictate what happens in the classroom? Additionally, mobile technology is changing where learning takes place. This is especially true as laptops are entering the educational arena in ever increasing numbers. Yet not all educators are quick to jump on the notebook bandwagon. They are waiting to see if laptop use is truly changing learning for the better. That's why schools such as Framingham State College in Boston and the Myron B.
Thompson...
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Used cars > Laptop Computers Instigate a Classroom Revolution
2006 A Good Year for Equipment Leasing Events
Atlanta (ContentDesk) March 1, 2006 -- For the first time since the Dot com crash, the Lessors Network is expecting to resume early registration sell out of its Annual Lessor Resources Showcase scheduled this August at the Ritz-Carlton, Buckhead hotel in Atlanta. If early exhibitor registration interest is any sign, it looks as if the equipment leasing industry is on the up-swing again as the Lessors Network reports unprecedented exhibitor registration for its August showcase. Semon confirmed...
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Website, Internet and World Wide Web Presentation
Lighthouse Coastal Literary of Savannah, Georgia, a Literary, Consultation and Promotions Agent, with clients in the Albertville and Guntersville, Alabama area, will be doing a "Special Presentation" on "Websites, the Internet and World Wide Web" on May 24 & 25, 2005, at the "Lake Guntersville Chamber of Commerce" 200 Gunter Avenue, Guntersville, Al. All those individuals and area Businesses that would like to attend are urged to register early for this most exciting event.The Presentation focus...
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Used cars > Website, Internet and World Wide Web Presentation
Removing Unwanted body hair Permanently & Safely?
Both males and females have unwanted hairs in their body. Everybody wishes to be fresh and energetic. It can be done in a many number of ways according the level of hairs in the body. It is found that around 80% of the women and around 50% of the men are going for hair removal in some form or the other. Facial hair removal is more popular among men and women.
Hair removal in the hands, legs, arms, underarms, bikini area, face, and eyebrows are commonly practiced these days. Sports persons...
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Used cars > Removing Unwanted body hair Permanently & Safely?
Reverse Mortgages, Getting a Good Deal In 3 Easy Steps!
Reverse Mortgages, Most Common Features:A reverse mortgage is a special type of loan that seniors can sometimes get to convert the equity in their homes to cash.Many reverse mortgages offer special appeal to older adults because the loan advances, which are not taxable, generally do not affect Social Security or Medicare benefits.Originally designed for retirees interested in keeping their homes but whose incomes aren't sufficient to support them, reverse mortgages have typically been used to...
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Used cars > Reverse Mortgages, Getting a Good Deal In 3 Easy Steps!
Jobs From Recycling- Recycling Find, Seek And Sell Workbook
(ContentDesk) February 25, 2004--Recycling, reuse, refurbish, renew and redo are recycling words that can impact the environment as well as job creation. Of the thousands of items that lend them selves to recycled products we can list the following:(1)corn cobs for pipes and gift baskets(2)orange peels for potpourri, tea and air freshener(3)watermelon inner rind for watermelon rind preserves.(4)corn husk for tamales, dolls, and mats.(5)egg shells for a partial fertilizer and for decorating.(6...
Used cars How To Buy Used Vehicles Debt Free Jobs From Recycling- Recycling Find, Seek And Sell Workbook tires
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