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Is A Seven Year Car Loan A Good Idea?

When it comes to making smart money moves, our family has never been a big fan of buying a new car.   In fact, the last new car that we bought was back in 1993 when we really did the math on how much smarter it is to buy a used car that is somewhere between two to four years old versus getting a new one.   While getting a new car should be a well thought out planned purchase, it often falls into the camp of a spur of the moment purchase depending on when you get in the mood.    In a sound financial plan, you should begin to save for the (new) used car purchase the moment that you pay off the old purchase. Recently, an article came out which sent my financial sensors into outer space. Experian Automotive says that in the first quarter of 2014, 24.9% of all new-car loans were 73 to 84 months long.  Four years ...

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The 5 Must Haves when buying extended warranty coverage for your car

Saving your family money has become both an art form and a science.  For many of us, it is full time job, often on top of several other jobs. That brand new SUV that you have been eyeing may need to wait a few months until the economy shakes out.  One way that you can protect yourself from budget-busting repair expenses is by purchasing an extended warranty on a great used vehicle. But how do you tell the good guys from the not-so-good guys?  Here are things to look for when considering a contract: Must have #1:  A physical address You’re considering spending $1000 – $2000 or more with a company that won’t tell you where they are located?   This one is so basic it shouldn’t need to be here, but it will weed out 80-90% of website companies.  When you do get the address, Google it.  If they’re stable and legitimate, the address should bring up the company name.  ...

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Top Ten Reasons To Buy A Used Car vs. A New Car

Top Ten Reasons To Buy A Used Car vs. A New Car Someone else pays for your depreciation Auto insurance is cheaper Monthly payments are lower You could buy a car for cash Less worry about having to buy extras Dealer “certification” programs Financing is cheap right now There are used car warranty programs Cars have a longer more reliable shelf life now No new car smell Ted Jenkin, CFP® 11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022 Phone 1.800.355.9318 or 770.777.0427 Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for ...

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VIDEO | Pass on the Extended Warranty

Pass on extended warranties. In my opinion, spending $129 for an extended warranty on an item that costs $300 just simply doesn’t make any financial sense. Usually, employees of your larger electronics chains have their “bonuses” tied to extended warranties, so beware before you consider buying. ...

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