Extended Warranties for Cars Are ‘Fraught With Peril for Consumers’ “While reputable options exist, the robocalls are almost certainly scams, an industry group warns. And for consumers who feel they have been ripped off, there is no guarantee anyone will help” writes Christopher Jensen for The New York Times. “vehicle service contracts — are “fraught…
Category: cars
Mounting car debt traps more drivers
Look at all those huge shiny new pick up trucks and SUVs on the roads these days! Are Americans really that affluent? Not really. How could it make sense to buy a $27,000 vehicle with a $45,000 loan? No I did not mix up the numbers as reported by AnnaMaria Andriotis & Ben Eisen on…
Vehicle Smog Ratings & Idling
Did you know that your car has a “smog rating”? This number (1-10) reflects vehicle tailpipe emissions that contribute to local and regional air pollution.A smog rating of 10 is the cleanest. You can find a vehicle’s smog rating on the window sticker of new cars or on fueleconomy.gov. Once you’ve decided on the type of…
What to do BEFORE you get hit by an uninsured motorist
My assistant blogger had the unfortunate experience of being hit by an uninsured motorist. Learn from her experience. It’s not unusual to get in a fender bender in the winter, and most motorists know what to do if this happens. Exchange insurance information, document it, etc. But, what happens if you’re hit by an uninsured…
FINANCING AN AUTOMOBILE
Taking out a loan to purchase an automobile can be a significant part of consumers’ financial lives. And it is a complicated process. The decision to obtain auto financing includes many factors, including the source of financing, features of the loan, and issues related to down payment, trade-in, and add-ons. To help consumers navigate this…
Buy or Lease a Vehicle?
Leasing a vehicle rarely makes financial sense. “A recent report by personal finance site WalletHub discovered that automakers’ finance arms charged 1.45% on average for 36-month car loans from July through September versus a 4.58% annual percentage rate for leases. If you have your eye on a Mini, for example, the 0% finance rate for…