Because cars are the second biggest purchase most people make
in their lives (after their homes), they merit a good deal
of financial attention. If you want to be as well-informed
as possible when buying a car, you've got to know everything
that's involved. MsMoney.com can help by:
- Determining a car's place in your overall financial picture
- Offering tips for buying a car (new or used)
- Unraveling the potentially mysterious matters of financing
and insuring a car
How does a car fit into your life, financially? Before you
buy, you should have some idea of what kind of car you can
afford, but to get more specific, you need to answer certain
questions.
First, how much will a car really cost? People tend to focus
on the purchase price and fail to honestly estimate the added
costs, such as insurance, repairs, gas, and parking.
Second, how important is buying a car in your overall plan?
You may think a car is a necessity for you, but so is saving
for retirement. You need to determine how high a priority
owning a car is, compared to your other financial goals.
In addition to all the information we provide, you can use
our car tools
for specific information, including Paying
Cash vs. Financing, and What
term of loan you should choose.
There's nothing like that new car smell, but it almost always
makes more financial sense to opt for a used car instead.
Most new cars depreciate in value by 40% in their first 3
years. Find out the pros and cons of new and used cars to
see which one is right for your needs. You can also use any
of our car tools to make your decision, including the New
vs. Used Car Tool, the Monthly
Payment Calculator.
How do you know what kind of car to buy? Will your decision
be based on appearance and gas mileage? Have you stopped to
consider that the best investment would be a car that's reliable
and holds its value over the years? In this section, we give
you the information you need to make an educated decision--from
research tips to pricing and buying options--along with access
to our numerous auto tools.
You know that buying a used car is a better investment than
buying one new, but what's a good price? Many factors are
involved in determining the right price of a used car, and
we'll take you through the steps, from deciding what kind
of car you want to finding it. We'll also give you the resources
and tools you need to learn the value of used cars and evaluate
their condition. It doesn't have to be expensive--simply checking
the title of a car can determine if it's the right one for
you.
Negotiating the price of a car is probably the most intimidating
part of buying, but there are ways to make it easier. Resources
such as the Kelley
Blue Book are now online, and new car-selling Web sites
are popping up at an astonishing rate. Find out which ones
are best for new car purchases and which work better if you're
buying a used car.
A new car may cost more than a used car, but you need money
before you can buy either. You don't have to save the whole
amount--you can also take out a loan or lease a car. Find
out what's involved in these options, from finance terms and
interest payments to time- and money-saving tips. You can
also use our Finance
vs. Cash Tool and our Lease
vs. Buy Tool to figure which option best fits your needs.
Insuring your car is required in many states and just makes
good financial sense. In this section, we give you an overview
of the four main types of car insurance, show you the factors
that determine the cost of insurance, provide advice on how
to lower your insurance costs, and let you in on some tips
for finding affordable insurance. Get a free auto
insurance quote.
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