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Way back when I was young, stupid and going to the wrong college and studying the wrong courses--wrong for me anyway, I was taking a retail merchandising class. The one thing I remembered from that class was a chart in one of our books that showed the best time to buy anything like sheets, china, and other things that really don't impact your wallet all that much. I can't seem to replicate that exact chart anywhere but if you interested I'm sure the Internet can help you out.
What I want now is that same chart but tells me without a doubt when is the best time to buy big money items like cars and houses. Like everybody else, I've got my theories on when to buy...houses = spring, cars= end of the month. But these aren't hard and fast rules and aren't based on data. So imagine my excitement when I came across a new gadget on Edmunds, which helps with the guessing about car prices.
It's their True Market Value: Predicted Price Trends. This handy gizmo shows you the pricing forecast for most cars over the following 30-Days. Just find the model you are interested in and the chart will show you whether there is an expected big increase (2% or greater); mild increase (1% to 2% change); relatively flat (less than 1% change); mild decrease (1% to 2% change); or big decrease (2% or greater).
Ah, knowledge...you gotta love it's power.
As far as I know no such tool exists for home sales, but their a different beast.
Showing posts with label cars. Show all posts
Showing posts with label cars. Show all posts
Tuesday, January 19, 2010
Tuesday, July 7, 2009
How to keep your head after a car accident
If you've ever been in a car accident you know it's quite an emotional event. Last week a friend of mine was in a minor accident.
"I couldn't think clearly. I was shaking and I felt like tears were going to start flowing. I wasn't hurt and the damage wasn't bad. I don't know why I started to feel this way." That's my friend describing the event.
I completely understand. Car accidents jolt us out of our expected experience into a place we never planned to be. This sudden change can make some people bewildered and others angry. It's a surreal experience. That makes it easy to miss details of the event or to forget what you should do.
With my friend in mind (and memories of my own experiences) I created this checklist for you to download and keep in your glove box--just in case. I hope that you never have to use it, but if you do, it may help you gather all the information you need--no matter what your state of mind at the time of the accident.
You can click on these .jpeg images to enlarge them. Then print them and keep it in your glove box.
"I couldn't think clearly. I was shaking and I felt like tears were going to start flowing. I wasn't hurt and the damage wasn't bad. I don't know why I started to feel this way." That's my friend describing the event.
I completely understand. Car accidents jolt us out of our expected experience into a place we never planned to be. This sudden change can make some people bewildered and others angry. It's a surreal experience. That makes it easy to miss details of the event or to forget what you should do.
With my friend in mind (and memories of my own experiences) I created this checklist for you to download and keep in your glove box--just in case. I hope that you never have to use it, but if you do, it may help you gather all the information you need--no matter what your state of mind at the time of the accident.
You can click on these .jpeg images to enlarge them. Then print them and keep it in your glove box. 
Tuesday, June 23, 2009
Cash for Clunkers helps you trade up
The President is likely to sign the War funding appropriates bill, possibly this week. You should care about this because it also includes the “Cash for Clunkers” bill that’s been creating so much interest.
Okay, first a side trip ... Lately it seems quite a few people have asked me how things like guns in state parks and Cash for Clunkers get lumped in with unrelated legislation, like war funding and credit card reform. I don’t want to get political, but here’s the explanation. It’s common practice to include legislation that may not stand on its own in with something stronger. Line-item-veto gave presidential power to reject parts of a Bill during the Clinton administration, but that power was later revoked in 1998 when the Supreme Court ruled that the measure overreached presidential powers. ...OKAY, now let’s get back on course to Cash for Clunkers.
You won’t exactly receive cash for your clunker. The program works like a trade-in. You purchase a car from a participating dealer and they take up to $4,500 off the price. The dealer than turns the car over to the government and receives the cash. It’s not clear what happens to the car after that. The intention is to recycle it.
The program is independent from manufacturer buying incentives. In theory, if a car dealer is offering $3,000 off the list price of a car and you qualified for a $4,500 voucher from your trade, then the total reduction off the MSRP would be $7,500.
Cash for Clunker credit ranges from $3,500 to $4,500 dependent on the fuel mileage improvement of your purchase. If you trade in your car for one that has at least 4 mpg better fuel economy than your old one, you'll receive $3,500. The credit goes up to $4,500 if the new car’s combined fuel economy is at least 10 mpg higher.
The requirements are lower for trucks and SUVs: A new small truck or SUV must get at least 2 mpg more than the old one to get a $3,500 credit; 5 mpg for a $4,500 credit. For large light-duty trucks (6,000-8,500 pounds), the old one must be rated 18 mpg or less and the new one must get at least 1 mpg better for the $3,500 credit and 2 mpg better for the $4,500 credit.
Since work trucks (8,500-10,000 pounds) don’t have fuel economy ratings, the legislation goes by model year: The old truck must be from 2002 or before to qualify for a $3,500 credit.
Cash for Clunkers raises so many questions that an FAQ site has been setup by Brian Pasch, CEO of the Pasch Consulting Group. (http://www.cashforclunkersfacts.com/bill-faq) Note that this is not a government website and does include advertising; however, it’s a great FAQ and is updated frequently.
Okay, first a side trip ... Lately it seems quite a few people have asked me how things like guns in state parks and Cash for Clunkers get lumped in with unrelated legislation, like war funding and credit card reform. I don’t want to get political, but here’s the explanation. It’s common practice to include legislation that may not stand on its own in with something stronger. Line-item-veto gave presidential power to reject parts of a Bill during the Clinton administration, but that power was later revoked in 1998 when the Supreme Court ruled that the measure overreached presidential powers. ...OKAY, now let’s get back on course to Cash for Clunkers.
You can finally get rid of that old mini-van!
Cash for Clunkers hopes to remove older, energy inefficient vehicles from US roads by allowing owners to trade them for more fuel efficient vehicles with up to $4,500 incentive. But don’t let your idea of a clunker fool you.
These are the minimum qualifications:
1) The car cannot be older than 1984.
2) It must be in running condition and must have been insured for the past year.
3) Your name must be on the title for at least one year.
4) The car’s MPG must equal 18 or less.
These are the minimum qualifications:
1) The car cannot be older than 1984.
2) It must be in running condition and must have been insured for the past year.
3) Your name must be on the title for at least one year.
4) The car’s MPG must equal 18 or less.
To get cash for your car you must purchase a new car. Used cars, motorcycles and bicycles do not qualify. You could lease a new car, but the minimum lease is 5 years. To qualify for the program you must do business with an authorized dealer between July 1 and November 1, 2009.
You won’t exactly receive cash for your clunker. The program works like a trade-in. You purchase a car from a participating dealer and they take up to $4,500 off the price. The dealer than turns the car over to the government and receives the cash. It’s not clear what happens to the car after that. The intention is to recycle it.
The program is independent from manufacturer buying incentives. In theory, if a car dealer is offering $3,000 off the list price of a car and you qualified for a $4,500 voucher from your trade, then the total reduction off the MSRP would be $7,500.
Cash for Clunker credit ranges from $3,500 to $4,500 dependent on the fuel mileage improvement of your purchase. If you trade in your car for one that has at least 4 mpg better fuel economy than your old one, you'll receive $3,500. The credit goes up to $4,500 if the new car’s combined fuel economy is at least 10 mpg higher.
The requirements are lower for trucks and SUVs: A new small truck or SUV must get at least 2 mpg more than the old one to get a $3,500 credit; 5 mpg for a $4,500 credit. For large light-duty trucks (6,000-8,500 pounds), the old one must be rated 18 mpg or less and the new one must get at least 1 mpg better for the $3,500 credit and 2 mpg better for the $4,500 credit.
Since work trucks (8,500-10,000 pounds) don’t have fuel economy ratings, the legislation goes by model year: The old truck must be from 2002 or before to qualify for a $3,500 credit.
Cash for Clunkers raises so many questions that an FAQ site has been setup by Brian Pasch, CEO of the Pasch Consulting Group. (http://www.cashforclunkersfacts.com/bill-faq) Note that this is not a government website and does include advertising; however, it’s a great FAQ and is updated frequently.
Thursday, May 28, 2009
Get Your Car Ready for Summer
I’ll never forget the fine summer day when I was 17. I drove off in my 1967 Ford Mustang and thought the car felt a little wobbly. I pulled over took a walk around the car and then remembered that my dad had just changed the tires. He was an auto mechanic, but you know how that goes. I might have had a cool car, but there was always some customer’s car that required his attention. The first thing that popped into my mind was lug nuts. Sure enough, he put the wheels on, but forgot to tighten the lug nuts on one wheel. So there I was alongside the road in my little summer dress with a tire iron in my hand. Fortunately I was kid that had grown up with cars and tools.
Today, I loathe the idea of being stranded by my car. Save yourself from sitting on the hot summer pavement by preparing your vehicle for the summer.
Tires: Don’t trust your eyes to guess if your tires are okay.
Get out the tire-pressure gauge and check that your tires are inflated to the recommended level. You’ll find this number inside the driver’s side door. Underinflated tires run the risk of a blowout, and overinflated ones make hydroplaning more likely in rainy weather. There's a financial payoff, too: Properly inflated tires increase your vehicle's fuel efficiency by up to 3%.
It’s easy to use a tire pressure gauge, this video shows you how:
Also, check the tread while you're down there. Stick a penny in the tread gaps with Lincoln's head facing down -- if the head is fully visible, you need new tires.
Look at your spare as well. If you need to change a tire on the road the last thing you want is a bad spare.
Even if your tires are properly inflated and your tread is fine, your tires may not be. Colorado’s low humidity can also do a number on your tires. Tires can dry out and deteriorate.
Fluids: It’s not so hard to remember fluids in the summer, just think hot and thirsty. Always be sure your car is on level ground to check any fluids. For most fluids you’ll want the car to be turned off, but warm.
First check your automatic transmission fluid, this is the only fluid that you’ll check with the engine running.
Oil--Check the oil after running the car for a few minutes. Be sure the car is on level ground. It should be at a sufficient level and appear clean on the stick. Manufacturers and technicians have been advising change the oil every 3,000 miles, but you can safely save yourself money and stretch it to 5,000 miles.
Be sure to check the required oil weight. Most new cars/trucks are designed to run on 5w30 oil. Old schoolers are used to putting in 10w30 or 10w40, but this can be harmful to newer cars. Doing so can destroy valve timing devices and void your warranty. SO: use the right weight oil (it is stamped on your oil filler cap).
Don’t forget your antifreeze overflow tank, brake fluid, and power steering fluid, battery water"unless it's maintenance free. Read your owner’s manual for guidance.
Brakes: You should have the brakes checked at least once a year, even if they seem fine. This is especially true in Colorado if you’ve been winter driving in the mountains and plan to head up to mountains frequently this summer. Obviously a brake inspection is a safety matter, but it could also save you from surprise expenses.
Windshield wipers: These also get a constant workout in Colorado weather. Replace yours with the season change and you’ll see better when those sudden afternoon downpours explode from the sky.
What’s in your trunk? Clean out your trunk and you’ll save fuel. But do be sure to carry an emergency kit.
Have a fun summer! I hope I don't see you on the side of the road.
Today, I loathe the idea of being stranded by my car. Save yourself from sitting on the hot summer pavement by preparing your vehicle for the summer.
Tires: Don’t trust your eyes to guess if your tires are okay.
Get out the tire-pressure gauge and check that your tires are inflated to the recommended level. You’ll find this number inside the driver’s side door. Underinflated tires run the risk of a blowout, and overinflated ones make hydroplaning more likely in rainy weather. There's a financial payoff, too: Properly inflated tires increase your vehicle's fuel efficiency by up to 3%.
It’s easy to use a tire pressure gauge, this video shows you how:
Also, check the tread while you're down there. Stick a penny in the tread gaps with Lincoln's head facing down -- if the head is fully visible, you need new tires.
Look at your spare as well. If you need to change a tire on the road the last thing you want is a bad spare.
Even if your tires are properly inflated and your tread is fine, your tires may not be. Colorado’s low humidity can also do a number on your tires. Tires can dry out and deteriorate.
Fluids: It’s not so hard to remember fluids in the summer, just think hot and thirsty. Always be sure your car is on level ground to check any fluids. For most fluids you’ll want the car to be turned off, but warm.
First check your automatic transmission fluid, this is the only fluid that you’ll check with the engine running.
Oil--Check the oil after running the car for a few minutes. Be sure the car is on level ground. It should be at a sufficient level and appear clean on the stick. Manufacturers and technicians have been advising change the oil every 3,000 miles, but you can safely save yourself money and stretch it to 5,000 miles.
Be sure to check the required oil weight. Most new cars/trucks are designed to run on 5w30 oil. Old schoolers are used to putting in 10w30 or 10w40, but this can be harmful to newer cars. Doing so can destroy valve timing devices and void your warranty. SO: use the right weight oil (it is stamped on your oil filler cap).
Don’t forget your antifreeze overflow tank, brake fluid, and power steering fluid, battery water"unless it's maintenance free. Read your owner’s manual for guidance.
Brakes: You should have the brakes checked at least once a year, even if they seem fine. This is especially true in Colorado if you’ve been winter driving in the mountains and plan to head up to mountains frequently this summer. Obviously a brake inspection is a safety matter, but it could also save you from surprise expenses.
Windshield wipers: These also get a constant workout in Colorado weather. Replace yours with the season change and you’ll see better when those sudden afternoon downpours explode from the sky.
What’s in your trunk? Clean out your trunk and you’ll save fuel. But do be sure to carry an emergency kit.
Have a fun summer! I hope I don't see you on the side of the road.
Wednesday, April 1, 2009
No Foolin
The following is not a joke. This a roundup of true stories that could affect you.
Link to ESP test
Have a foolish day!
- The Make Work Pay credit goes into effect today. You could see between $10 and $20 extra in your pay that's up to $400/year. CNN points out the details.
- There's a Conficker Worm on the loose and it's looking for you computer. CBS tells you how to protect yourself if you haven't already.
- Chase will be refunding $4.4 million in sneaky fees to their credit card customers. Read about at The Consumerist.
- Also at The Consumerist--Ford will make your car payments for 1 year if you lose your job.
But enough of that. For some real April Fool's Day fun test your friends' ESP skill, but first watch the instruction video below. Then follow the link below the video to the ESP test.
Link to ESP test
Have a foolish day!
Monday, March 30, 2009
Tip for Trading in Your Used Car
This weekend I was doing some research for an upcoming assignment about vehicle loans. As usual I got engrossed and sidetracked in this crazy web. But, I ran across this tip that I wanted to share with you.
Important Notice for Buyers Trading in Used Cars
If you trade in a used car on which you still owe money, make the dealer put in writing that he will pay off your car loan in 10 days or NO DEAL. Without contractual proof, some unscrupulous dealers legally delay paying off these loans (in some cases indefinitely). In addition to making payments on your new loan, you must continue making payments on your previous loan until it is satisfied by the dealer (since the loan is in your name)—or risk going into arrears and ruining your credit. Most dealers are reputable, but to be safe, always include clear payoff terms in your contract and follow up with the lien holder to ensure the dealer has complied. If a dealer refuses to include this, be ready to leave immediately and take your business to a reputable dealer.
If you trade in a used car on which you still owe money, make the dealer put in writing that he will pay off your car loan in 10 days or NO DEAL. Without contractual proof, some unscrupulous dealers legally delay paying off these loans (in some cases indefinitely). In addition to making payments on your new loan, you must continue making payments on your previous loan until it is satisfied by the dealer (since the loan is in your name)—or risk going into arrears and ruining your credit. Most dealers are reputable, but to be safe, always include clear payoff terms in your contract and follow up with the lien holder to ensure the dealer has complied. If a dealer refuses to include this, be ready to leave immediately and take your business to a reputable dealer.
My experience when trading in a car that I still owe money on was that this was always in the contract. Still, I imagine that this could happen. I got this tip from Hudson Valley Federal Credit Union, so my guess is that they've had some members who were burned in this kind of situation. I imagine this would be more likely at smaller car sellers.
One thing I will say that I've experienced is a paperwork lag in which you could end up making 2 car payments (one for the trade and one for the new) in the same month. Or you could forget to cancel an automatic bill pay and again pay twice. It's important to pay attention to all of these details: the contract, the paperwork processing and you automatic payments.
photo by geognerd
Friday, July 11, 2008
Save Yourself from Emergency Tire Purchases
I love it that I have friends that blog. Strange though it seems that none of my long-distance friends get blogging. But my local friends are into it and though I see them often their blogs help me keep up with what's happening.
This week Becky had this bit of news:
I noticed a large bolt/nail in the tread surface of my car's passenger tire. We thought "oh, crap, but at least it can be patched!" Nope, instead we needed all 4 tires replaced. Why you ask? Well, turns out that tires can rot! Did you know this, cause I had no idea. Guess after a few years, especially in dry climes or coastal climes (hmm, like San Diego or Colorado, ...yeah) the tires can rot and be unstable. So while we dropped a cool grand before noon on Sat on nothing fun.
Wow! No I had no idea that tires can rot right there on the wheel. Well, technically it's not rot, because that's a fungus. But you can probably picture Becky's rotten tires dry and cracking. Definitely not something you want to be speeding down the road on.
We don't often think about our tires. At least I don't. There just kinda there. But according to the Car Talk forum this can all be avoided with regular tire maintenance.
"Good tire maintenance will slow it down. So the first question is did you do a good job of maintaining your tires? Inflation pressure checks every month? Rotation every 5K to 8K? If not, then it's hard to assess how much contribution is the tire and how much is just plain neglect. Because many folks only think of tires in terms of miles, tire manufacturers and car manufacturers have been issuing bulletins saying that tires should be removed from service when they reach a certain age. There's a bit of spread on the time, but it seems to boil down to heat. If you live in a hot state (AZ, CA, TX, NV, NM, and FL) 6 years is the limit for a properly maintained tire. In cold weather states (MN, WI, MI, ND, MT, etc.) then the limit is 10 years. States in between are .... uh ......in between."
It stinks that Becky and Kyle had that unexpected expense. I know that they were planning something more fun for their Saturday. But I am so glad that the bolt caused them to buy some safer tires.
This week Becky had this bit of news:
I noticed a large bolt/nail in the tread surface of my car's passenger tire. We thought "oh, crap, but at least it can be patched!" Nope, instead we needed all 4 tires replaced. Why you ask? Well, turns out that tires can rot! Did you know this, cause I had no idea. Guess after a few years, especially in dry climes or coastal climes (hmm, like San Diego or Colorado, ...yeah) the tires can rot and be unstable. So while we dropped a cool grand before noon on Sat on nothing fun.
photo by idreamofdaylight
Wow! No I had no idea that tires can rot right there on the wheel. Well, technically it's not rot, because that's a fungus. But you can probably picture Becky's rotten tires dry and cracking. Definitely not something you want to be speeding down the road on.
We don't often think about our tires. At least I don't. There just kinda there. But according to the Car Talk forum this can all be avoided with regular tire maintenance.
"Good tire maintenance will slow it down. So the first question is did you do a good job of maintaining your tires? Inflation pressure checks every month? Rotation every 5K to 8K? If not, then it's hard to assess how much contribution is the tire and how much is just plain neglect. Because many folks only think of tires in terms of miles, tire manufacturers and car manufacturers have been issuing bulletins saying that tires should be removed from service when they reach a certain age. There's a bit of spread on the time, but it seems to boil down to heat. If you live in a hot state (AZ, CA, TX, NV, NM, and FL) 6 years is the limit for a properly maintained tire. In cold weather states (MN, WI, MI, ND, MT, etc.) then the limit is 10 years. States in between are .... uh ......in between."
It stinks that Becky and Kyle had that unexpected expense. I know that they were planning something more fun for their Saturday. But I am so glad that the bolt caused them to buy some safer tires.
Tuesday, July 1, 2008
Evaluating Hybrid Vehicles
photo by calebegg You know that consumers are taking gas prices and use seriously when it becomes socially unacceptable to waste gas. I overheard some people talking in a local coffee shop about some foolish driver they saw speeding. The point of their conversation was not that the driver was reckless, but that they were clueless.
Meanwhile, more people are pondering the purchase of hybrid vehicles. It's not a question of whether the current car is still usable or not, it's whether gas only cars are practical.
To help with the decision I found this interesting and well researched article. (Hey, if somebody else has done the work, why reinvent it? Right?) Really this is a very good post by FrugalTrader.
I like how FrugalTrader determines the payback period for the costs of a hybrid. For more information on specific models check out this MSNBC article.
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