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used cars

Monday’s need-to-know money news

July 30, 2018 By Liz Weston

Today’s top story: Insurers turn to technology to woo drivers. Also in the news: Beemers, Benzes and other luxury used-car bargains, 7 tactics to help car-buying newbies bargain like a boss, and credit cards still charge interest after you die.

Insurers Turn to Technology to Woo Drivers
Gadgets that can keep your rates down.

Beemers, Benzes and Other Luxury Used-Car Bargains
Luxury for less.

7 Tactics to Help Car-Buying Newbies Bargain Like a Boss
Don’t let them see you sweat.

Credit Cards Still Charge Interest After You Die
Inescapable interest.

Filed Under: Liz's Blog Tagged With: car buying tips, car insurance, Credit Cards, interest, luxury cars, negotiations, tech, used cars

Q&A: More advice on how to find a reliable cheap car

September 4, 2017 By Liz Weston

Dear Liz: I have repaired my own vehicles all my life, and I wanted to add a bit to your response to the person in Chapter 13 bankruptcy who needs another car after paying $1,500 cash each for two junkers. You are correct that a $3,000 car is likely to be more reliable, but I would stress heavily that there are no guarantees on cars at that price range even if you have a mechanic check the vehicle.

My advice on getting a reliable cheap vehicle is to first identify what make and model vehicle you want, then spend several weeks on the model-specific forums on the Internet reading the Q&As. There are wide variations in even the same models of the same year. One might use an engine that has a serious defect, but others do not have that defect.

The mistake most used-car buyers make who are looking for a cheap car is to be too impatient. They go for the first thing that’s listed at their price range with no regard to what make and model it is. It is simply not possible to research the skeletons in the closet of unfamiliar models in the hour in between viewing the listing online then running out to see it. Figure out the model in advance, then be patient.

Answer: Thanks for offering your advice. Even people who have plenty of money often don’t spend enough time researching their options and wind up regretting a purchase or paying too much.

Filed Under: Uncategorized Tagged With: q&a, used cars

Thursday’s need-to-know money news

June 1, 2017 By Liz Weston

Today’s top story: Stocks at a crossroads: 3 things to watch for in June. Also in the news: Why kids should stash summer job cash in a Roth IRA, millennials are stressed about their finances, and why now is the time to buy a used car.

Stocks at Crossroads: 3 Things to Watch for in June
Watching the market.

Why Kids Should Stash Summer Job Cash in a Roth IRA
It’s never too early to save for retirement.

Study: Millennials are stressing about their finances
Feeling worse off than their Baby Boomer parents.

Why Now Is the Time to Buy a Used Car
Getting the most for your money.

Filed Under: Liz's Blog Tagged With: car shopping, kids and money, millennials, Roth IRA, Savings, stock market, used cars

Monday’s need-to-know money news

January 23, 2017 By Liz Weston

Today’s top story: How to find a good tax preparer. Also in the news: Excuses for delaying retirement savings, what the TCF bank suit means for you, and why used cars usually have higher interests rates.

How to Find a Good Tax Preparer (and Write Off the Bad Ones)
Finding good help during tax season.

Excuses, Excuses When Delaying Retirement Savings
No more excuses.

What TCF Bank Suit Means for You: Defend Against Overdraft Fees
What opting in really means.

Why Used Cars Usually Have Higher Interest Rates
Guarding against risk.

Filed Under: Liz's Blog Tagged With: interest rates, retirement savings, tax professionals, tax season, TCF bank, used cars

Monday’s need-to-know money news

May 23, 2016 By Liz Weston

401k-planToday’s top story: Should you get an FSA? Also in the news: The best times of the year to buy a used car, saving enough for retirement, and the states with the highest rate of identity theft.

Should I Get an FSA?
The pros and cons of a healthcare spending account.

The best times of the year to buy a used car
Buying strategically.

Saved enough for retirement? Not many have
The golden years could be stressful.

The States With the Highest Rate of Identity Theft
Is yours on the list?

Filed Under: Liz's Blog Tagged With: Flexible Spending Account, FSA, Identity Theft, Retirement, retirement savings, used cars

The best used cars, from Edmunds.com

June 22, 2012 By Liz Weston

If you’re in the market to replace a vehicle, check out Edmunds.com’s list of 2012 Used Car Best Bets, which include:

Compact Sedan: 2005-2010 Hyundai Elantra
Midsize Sedan: 2005-2010 Nissan Altima

Large Sedan: 2006-2010 Hyundai Azera
Coupe: 2005-2010 BMW 3 Series
Convertible:
2005-2010 Mazda Miata
Wagon:
2005-2010 Pontiac Vibe
Compact SUV/Crossover:
2005-2010 Honda CR-V
Midsize SUV/Crossover:
2005-2010 Ford Explorer
Large SUV/Crossover:
2005-2010 Chevrolet Tahoe
Minivan/Van:
2005-2010 Honda Odyssey
Compact Truck:
2005-2010 Toyota Tacoma
Large Truck:
2005-2010 Ford F-150
Luxury:
2005-2010 Infiniti G35/G37
Hybrid:
2005-2010 Toyota Prius

Sport Compact: 2005-2010 Subaru Impreza WRX

Edmunds.com editors picked the cars based on reliability, safety, value and availability. The editors considered cars that were two to seven years old, which is pretty much the sweet spot for used car purchases.

Since all cars are used cars as soon as you drive them off the lot, you might as well let someone else take the depreciation hit. You can tens of thousands of dollars over your driving lifetime by buying slightly used cars. Save even more by paying cash and keeping them for 10 years or so.

For more details on Edmunds.com’s list, visit http://www.edmunds.com/car-reviews/best-used-cars.html.

Filed Under: Liz's Blog Tagged With: auto, Edmunds.com, used cars

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