Household Math™: Cheaper Gas vs. Savings
by Scott Bilker
Jenny lives 30 miles from where she works. Her car gets 22 miles per gallon. Jenny works 5 days a week, every week in the year--no holidays or vacations; that hurts! Last year she added up how much she spent totally for gas which equaled $885.65. She likes to get gas at the closest gas station for convenience but this comes at a cost of 5 cents more per gallon. If she bought all her gas for the year at the lower-priced gas station, how much would she save in one year?
Wanting a Newer Car
by Gary Foreman
My husband and I are in quite a bit of credit card debt and my husband wants a newer car. He says that his car won't last two more years. We are trying to save a little bit but we don't have any money to put down on a car. We have money to pay our bills which is not the problem. We just don't have a whole lot of money left over after paying our bills. What would you suggest we do about this situation?
Household Math™: Car Insurance Payments vs. Credit Card Offer
by Scott Bilker
Your auto insurance bill arrives; it's $600.00 for 6 months of coverage, ugh. Luckily, to make paying easier, they give you the option of spreading this out over 3 monthly payments. The catch is...
Household Math™: Car Per Hour
by Scott Bilker
Janice has finally received her driver's license! She's a happy camper! Now it's time to get the car and go places with her friends. She's pretty smart about money and know that she's going to need a decent job to support the car. How much per hour must she net just to pay for the car?
Lemon Car Making Your Life Sour?
by Craig Kimmel
One month old car is in the shop for more than 30 days does it qualify as a lemon? If you have a car that's less than one year old and it has been in the shop for more than 30 days, chances are you have a lemon. Also, if a car has...
Household Math™: Car Purchase vs. Car Repair
by Scott Bilker
After doing some research she finds only one car that she feels will meet the 50,000-mile requirement. The total price for that car is $3,000. Should she buy the used car or repair the transmission?
Household Math™: Auto Loan Rate
by Scott Bilker
Mary Jane borrowed $9,200 to buy a used car. She made equal monthly payments for 3 years and that paid off the loan in full. After that time she added up how much she paid in total to the loan. She was surprised to find that 14.81% of the total amount she paid back over the course of 3 years were interest charges for the loan! What was Mary Jane's APR for this loan?
Why Not Lease?
by Gary Foreman
Is it better financially to buy or lease an automobile since it's a depreciating asset?Once you lease an auto you're much more likely to drive a new car every few years. And the first miles are the most expensive that you can put on a car.
Think Before
by Doris Dobkins
This afternoon, I spent an unexpected 4 hours at the car service dealer. My vehicle had been overheating for the past few days so I thought I'd take it in for a service check. Not having any other form of transportation at the moment, I decided to "hang out" in a comfortable chair on the sales floor. Here's just a small sample of what I witnessed...
Household Math™: Used Car Loan
by Scott Bilker
You're ready to go out and buy another used car. You know that the monthly payment for a $8,000 3-year loan at 8% APR is $250.70 which, is all you know you can afford. After finding the right car, which cost a more than you originally planned, plus all fees, the total amount financed is $16,000. What is the monthly payment if the rate, and term of the loan, remain the same?
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