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Tag Archives: buying versus selling

How to save 66% on annual cost of Vehicle ownership

How to save 66% on annual cost of Vehicle ownership

                     How to save 66% on the annual cost of ownership of your vehicle! You can lower your annual vehicle cost of ownership by 66% without filling your own tires or changing your own oil. By following the method outlined in the  University of Michigan's report titled Report No. CSS04-01 which can be found at  http://css.umich.edu/sites/default/files/css_doc/CSS04-01.pdf   Warning! this report is 94 really dry and boring pages. The good stuff is on pgs. 21 & 22 and 32 & 33 Executive summary: In the Uof M's study example a 2000 model year, generic sedan cost $20,000 to buy and cost $5,300 per year for depreciation, taxes and fees  If we jump forward to 2020, an average-priced 2020 model vehicle costs $38,000, plus, in Cook county, $3,800 sales  plus dealer fees etc. Using the dep ... read more

Top 10 Things New Drivers Need To Know

Top 10 Things New Drivers Need To Know

Driving for the first time can be scary, you aren’t sure what to expect, but you are full of excitement. Before you put the pedal to the metal and take off, you should read these top 10 things that all new drivers need to know. 1. There are no take-backs in driving. You need to pay attention to all of your surroundings because if you hit something you can’t take back that action with an apology. There are consequences that you have to own up to and face, not to mention it can be very pricey. 2. Speeding is overrated. You might think it’s cool, and you want to impress someone with your led foot, but it’s very dangerous. It’s not only hazardous to yourself but the other drivers on the road. Take your time, don’t speed, and enjoy the view you have while driving. 3. What to do when you get pulled over. You might be freaking out the first time you get pulled over or worry that the police are going to call your parents. They don’t call your par ... read more

Categories:

Safety

How Much Do We Love Our Cars? Let Us Count the Ways

How Much Do We Love Our Cars? Let Us Count the Ways

It’s a cliche to say that we Americans love our cars. But just because something is a cliche doesn’t mean it isn’t 100 percent true. We do love our cars! Why, though? Well, cars mean freedom for a lot of us. What’s better than grabbing your keys and jumping behind the wheel to take off on the spur of the moment--on a road trip to a famous location, to visit an old friend, or just to pick up some late-night munchies? To a lot of Americans, our cars reflect our personalities. And why not? Most of us spend an awful lot of time behind the wheel. Why not take the time to figure out exactly what kind of vehicle both meets our needs and tells the world, “Hey, world, here I am!” What do different types of cars say about their owners? Pickup truck drivers tend to be hardworking and no-nonsense. People drive hybrids both to save money on gas and because they care about the environment. Drivers of sports cars like to feel powerful and attractive. Do you kno ... read more

Categories:

Car Ownership

Motorists Should Be Aware of the "Rules" if They are Playing the Car Game

Motorists Should Be Aware of the "Rules" if They are Playing the Car Game

Motorists Should Be Aware of the "Rules" if They are Playing the Car Game   According to the University of Michigan, 65% of a vehicle's depreciation occurs in the first 4.5 years. That study is dated, but time has not affected the concept, other than the fact that the average price of a vehicle is now $30,000 instead of $20,000.   It is not a coincidence that vehicle manufacturers have trained the consumer to trade, on average, every 4.5 years. The dealers make their maximum profit by giving the current owner the trade in value, aka the depreciated value and reselling the used vehicle at retail. So Rule #1 is if you like to get a new car every few years, do not buy, stick with leasing - it lowers your depreciation cost. Another place where consumers hurt themselves is not understanding that the new car manufacturer and dealer ... read more

Categories:

Automotive News
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