Savings and Benefits of Buying Used Wheels
Ever wonder why the used-car industry is such a big hit? The price tag attached to a used vehicle is usually several thousand dollars less than for new cars. If you buy a new car, it typically depreciates about 20% in value the minute you drive it off the lot.
Start looking for the right used car by doing some research. Check out websites such as Carfax.com, Edmunds.com, and kbb.com. These sites help you find exactly what you are looking for, including safety rating, vehicle condition, and a vehicle history report.
When you’re selecting a used vehicle, keep in mind that insurance companies base insurance premiums on your age, year of the car, make, and how likely you are to get in an accident. In general, the cost of insurance on a used car is lower because the comprehensive and collision costs are usually lower.
Many dealerships offer certification programs that can protect you if any mechanical problems arise after you purchase your vehicle. Be sure to read the fine print of the certification to see what it covers.
Buying a certified used car can add on a significant chunk of money to the price tag but can be money well spent. On the other hand, if you plan to buy a noncertified used car, make sure to have a qualified mechanic inspect it first.
To find the best deal on financing your used vehicle, make Brokaw Credit Union your first stop. Call or stop in today to learn more about our low auto-loan rates.
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Smart Phone, Smart Saver
Phone apps have changed our lives. We now have, at our fingertips, the ability to access information 24/7, wherever we are. There are a number of useful apps that can even help you save money and track your spending. Here’s just a few:
Level Money — Are you often struggling at the end of the month to pay your bills, wondering where all your money went? This app helps you keep track of your spending by letting you set daily, weekly, or monthly limits on how much you can spend. You begin with your actual bank balance and subtract essentials like rent and utilities. The remaining balance is what you can spend on non-essentials. You can even set alerts to warn you when you only have a certain amount of money left.
Flipp — Like a traditional Sunday newspaper, this app tells you all the sales and special offers currently available, at as well as help you find coupons. It covers weekly ads from 800+ retailers, including supermarkets, pharmacies, and big retailers. If you’re a member of a store’s loyalty program, it can automatically apply discounts when you use your loyalty card at checkout.
Good Budget — This app uses the envelope system of budgeting. You begin by placing a certain amount of money for each expense (rent, groceries, gas, eating out, etc.) into its own category. This app keeps track of each amount, helping you to stay on budget. It also allows you and your spouse to sync your account, letting both of you know who’s spending, where it’s going, and how much is left in each “envelope.”
ShopSavvy — When you’re out shopping in a store, this app lets you scan the bar codes on merchandise and compare prices from other local and online competitors to see whose price is better. It offers special cash-back deals and you can set up notifications to alert you when a specific product goes on sale.