Should You Finance Your New Car or Pay Cash?

Should You Finance Your New Car or Pay Cash?

If you are ready to start shopping around for new cars at your local Toyota car dealerships, you may be wondering how you will pay for your purchase. New cars can have rather high price tags, and some people may only be able to make this purchase with the help of an auto loan. A car loan, after all, allows you to pay for this expense with equal monthly installments. However, other buyers have the ability to purchase new cars with cash. When you pay with cash, you can enjoy numerous benefits, but there are also some downsides to consider. As you compare the options, carefully analyze these important points.

The Benefits of Paying Cash
By paying cash for new cars, you entirely eliminate a monthly car payment from your budget. This can make your budget easier for you to manage for years to come, and it also may help you to more easily navigate through financial downturns, times of rapid inflation and more. When you pay cash for a new vehicle, you also eliminate some of the extra costs associated with financing your purchase. For example, without financing, you can avoid paying lender and financing fees as well as interest charges. These can save you thousands of dollars on your total purchase price, so you can see that the savings associated with paying cash for your purchase can be significant.

The Downsides of an All Cash Purchase
There are true financial benefits associated with an all cash purchase for new cars, but there may be a few downsides to consider. For example, you may be able to pay all cash for the purchase, but this could wipe out your rainy day nest egg. If this happens, you may not be able to weather storms that arise in your financial future in the coming months and years. You may wind up turning to credit cards and other forms of debt to get by. In addition, if you are offered a zero-percent loan, it may be more cost-effective in the long-run for you to keep your lump sum of cash invested in a high-return investment account.

There is no clear-cut answer regarding the decision to finance a car or to pay cash for it. Each situation is unique, and the buyer will need to carefully analyze both options to determine how to proceed. It is very beneficial that you have the option to consider both of these scenarios, and the options can make it easier for you to make your purchase in a cost-effective way. As you head to Toyota car dealerships to check out the new inventory, keep these points in mind.

3 Ways to Lock in Savings on Car Rental Services

3 Ways to Lock in Savings on Car Rental Services

Whether you are planning a trip for business or for pleasure, you understandably want to shop around and get the lowest rates possible for everything from airfare to hotel. Car rental services can also cost a small fortune, if you may be looking for wonderful ways to save money on this travel expense. If you are shopping for car rental services today, consider implementing some of these wonderful tips to help you save money on your next rental car.

Look for Online Savings
There are a few different ways that you can use the Internet to save money on car rental services. First, you can shop around to compare rates available through different car rental agencies. Second, you can look for online coupons and discount codes available for different companies. It may also be helpful to use a travel comparison website to more easily make a comparison. Keep in mind that these websites often have special pricing available to them that may not be available through the company’s primary website.

Reserve Your Vehicle Early
Another helpful tip to follow when making travel plans is to reserve your car rental as soon as possible. Many companies offer lower rates when you make your reservation at least a month or two in advance. In addition, if you pay for the rental fee or at least make a financial deposit toward your rental, you may enjoy additional savings off of your total car rental price.

Choose Your Rental Location Wisely
A final and very helpful tip to follow is to look at different pick-up and drop-off locations to find better rates. Airports may be one of the most popular pick-up locations for car rental company services, and this is because it often is most convenient for travelers to use an airport location. However, if you are willing to do a pick-up and drop-off in another location farther away from the airport, you may be able to save money. For example, there may be a pick-up location close to your hotel, and you may be able to use hotel shuttle service to to and from the airport or to and from the car rental agency. If shuttle service is not available, consider a taxi or a ride sharing service.

The savings that you can enjoy from each of these tips can be modest, but you can enjoy significant savings when you combine all of these tips together. It may be easier to simply lock in the rate of the first car you find that meets your rental needs, but you can save a small fortune in fees when you implement these tips in your shopping efforts.

Should You Put Your Teen on Your Insurance Policy?

Should You Put Your Teen on Your Insurance Policy?

As a parent who now has a driving-aged child, you might be trying to decide whether or not you should add your teen to your insurance policy. After all, it might seem like the easiest way to make sure that your child has the required coverage, but you still might not be sure if it’s a good idea. These are a few things that you should consider when making this decision.

Do You Have a Good Driving Record?

As you might already know, young and inexperienced drivers generally have to pay a whole lot more for car insurance. In fact, some of the youngest drivers in Canada pay a whopping 60 percent more for their coverage. However, if you don’t have a good driving record yourself, you might not be doing yourself or your teen any favors by adding him or her to your insurance. If your insurance is already high because you have gotten a lot of tickets or have been in accidents, you might find that your teen can get a better rate alone.

Do You Have Expensive Vehicles?

Take a look at the vehicles in your garage. Even if they are valuable, they might not be that expensive to insure right now, particularly if you have a good driving record. However, if you add your teen to your insurance policy, your insurance company might assume that he or she will be driving these vehicles, too, even if this is not the case. Since insurance companies often worry about teens wrecking cars — particularly valuable ones that will be expensive to replace if something happens — this could result in your policy going up really high. In this situation, it might be best for your teen to have a separate policy with the car that he or she will be driving alone.

Are You Required To?

Talk with your insurance agent about the fact that you have a driving-age child in your home. Depending on the rules that your insurance company has in place, you might be required to add your child to your policy as a driver, even if he or she never drives your vehicles and has a separate policy. If this is the case, it might be cheaper for your child to simply have coverage through your policy rather than being listed as a driver on your policy and then having separate coverage.

Making the decision to add your child to your insurance can be a big one, and you might be unsure of what to do. Luckily, asking yourself these questions, speaking with an insurance agent and running a few auto insurance quotes should help you make the right decision. If you need more information from an expert, may be able to help you. SWAG

The other day I saw this guy wearing a t-shirt with some really stupid saying on it, and I couldn’t help but wonder what possessed him to buy that ridiculous shirt. I mean, it was just terrible. Come to think of it, I see a LOT of stupid t-shirts out there. What a waste of space… That’s when I had a lightbulb moment. I could make a t-shirt and help even out the ratio of cool vs stupid t-shirts! At first I figured I would make just one, for myself, but then it occurred to me that other people might like to sport a nifty t-shirt too.

So I made up this t-shirt design. It has a risque photo of La Bala (naked!) and a quote by Dr. Ferdinand Porsche. “I couldn’t find the sportscar of my dreams, so I decided to build it myself.”

I made another variation with the logo smaller, over the pocket area.