Full coverage car insurance explained #park #auto #mall


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Full coverage car insurance

No insurance policy can cover you and your car in every circumstance. But a ‘full coverage’ policy covers you in most of them.

Insurance is meant to protect you from being sued, or left financially stranded by a totaled car, or ruined by an uninsured driver. That doesn’t mean an accident won’t leave you with expenses and hassles you wouldn’t face otherwise.

Full coverage is shorthand for policies that cover not only your liability but damage to your car as well. Here’s how to weigh liability vs. full coverage.

What is full coverage?

To most drivers, full coverage means you have bought not only liability insurance which is mandatory virtually everywhere and pays for the damage you inflict on other people and property but comprehensive and collision, too.

Ideally, full coverage means you have insurance in the types and amounts that are appropriate for your income, assets and risk profile. The point of all types of car insurance is to keep you from being financially ruined by an accident or incident.

Of course, you can buy a policy with every conceivable option:

  • The highest available liability limits (usually $250,000 per person bodily injury, $500,000 per accident, $100,000 property damage)
  • The lowest possible deductible on collision and comprehensive coverage. At some companies, it’s $0, but $100 and $250 are common.
  • Uninsured/underinsured motorist bodily injury coverage with limits matching your liability coverage
  • Uninsured motorist property damage (not available in all states)
  • All available medical coverages in the highest amounts possible (personal injury protection in no-fault states and medical payments coverage in most others)
  • Rental reimbursement coverage
  • Towing and labor
  • Preferred-customer add-ons such as new car replacement programs or vanishing deductibles

In reality, there is no policy that will cover you and your car in every situation, just most of them.

What does full coverage insurance cover

A typical full coverage policy (liability, comp and collision, uninsured motorist and medical coverage) should cover:

  • The damage you do to others, up to your liability limits.
  • Your car, up to its fair market value, minus your deductible, if you are at fault or the other driver does not have insurance or if it is destroyed by a natural disaster or stolen.
  • Your injuries and those of your passengers, if you are at fault, up to the amount of your medical coverage.
  • Your injuries and yours of your passengers, if you are hit by an uninsured motorist, up to the limits of your uninsured motorist policy.

Typical full coverage insurance won’t pay for:

  • Racing or other speed contests
  • Off-road use
  • Use in a car-sharing program
  • Catastrophes such as war or nuclear contamination
  • Destruction or confiscation by government or civil authorities
  • Using your vehicle for livery or delivery purposes; business use
  • Intentional damage

Typical comprehensive and collision policies won t cover:

  • Freezing
  • Wear and tear
  • Mechanical breakdown (often an optional coverage)
  • Tire damage
  • Items stolen from the car (those may be covered by your homeowners or renters policy, if you have one)
  • A rental car while your own is being repaired (an optional coverage)
  • Electronics that aren t permanently attached
  • Custom parts and equipment (some small amount may be specified in the policy, but you can usually add a rider for higher amounts)

Do I need full coverage?

You are required to have liability insurance or some other proof of financial responsibility in every state. Coverage comes in varying levels, from the mandatory minimum to as much as $500,000. You as a car owner are on the hook personally for any injury or property damage beyond the limits you selected. Your insurance company won t pay more than your limit.

But liability coverage won’t pay to repair or replace your car. If you owe money on your vehicle, your lender will require that you buy collision and comprehensive coverage to protect its investment. After you pay off the loan, the choice to buy comp and collision is yours alone.

We have our own rules of thumb on insuring any car:

  • When the car is new and financed, you have to have full coverage. Keep your deductible manageable.
  • When the car is paid off, raise your deductible to match your available savings.
  • When you reach a point financially where you can replace your car without the assistance of insurance, seriously consider dropping comprehensive and collision.

You can see what kinds of insurance coverage drivers like you — people with cars the same age, who are in the same age group and have a similar type of residence — buy with Insurance.com’s auto insurance coverage calculator .

How much does full coverage cost?

Car insurance rates are very specific to the person who owns the car: Your age, driving record, credit history and location count as much as the kind of car you are driving. Rates also vary by hundreds of dollars from company to company. That’s why we always suggest, as your first step to saving money, that you compare quotes.

Here’s a comparison of the cost of full coverage for a 40-year-old driver in Vancouver, Washington, who owns a paid-off 2009 Ford Mustang:

Minimum liability only: Purchasing the Washington state minimum of $25,000 bodily injury liability per person, $50,000 per accident, and $10,000 in property damage, and declining uninsured motorist and personal injury protection. No comprehensive or collision. Quotes ranged from $636 a year to $1,260.

Typical full coverage: Purchasing $100,000/$300,000/$50,000 liability coverage, uninsured motorist in a matching amount, $10,000 in personal injury protection and comprehensive and collision coverage with a $500 deductible. Quotes ranged from $1,116 to $1,536 a year.

Premium full coverage: Purchasing $250,000/$500,000/$100,000 liability coverage, uninsured motorist in a matching amount, $10,000 in basic personal injury protection plus $25,000 additional, comprehensive and collision with a $250 deductible, rental reimbursement and emergency towing and labor. Quotes ranged from $1,416 to $2,340 a year.

When should I drop full coverage?

Our data show that 40 percent of drivers who own 10-year-old model cars are buying comprehensive and collision coverage. Many consider dropping these optional coverages on a car nearing the end of its life. If you can manage such a loss — that is, replace a stolen or totaled car without a payout from insurance — do the math on the potential savings.

For example, a 25-year-old woman with a clean driving record living in Stirling, N.J. would pay about $1,302 a year for full coverage (50/100/50 liability, uninsured motorist, personal injury protection and comprehensive and collision coverage with a $500 deductible) on a 10-year-old Ford Focus ZX4. Dropping comprehensive and collision, she would pay about $806 a year a savings of $496 a year.

Let’s say her car is worth $4,450 as the actual cash value an insurance company would pay. If her car were totaled tomorrow and she still carried full coverage, she would get a check for $3,950 the actual cash value of the car minus her $500 deductible. In other words, she is paying $496 a year to protect herself against a $3,950 loss.

Of course, the value of the car drops with each passing year, and so do the insurance premiums. At a certain point, most drivers would choose to accept the risk and bank the collision and comprehensive premiums because they would be unlikely to find a reliable replacement with the insurance payout.


GAME – Grand Theft Auto V #auto #parts #canada


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GRAND THEFT AUTO V VIDEOS

Release Date – 18/11/2014*

GTA V once again takes you to Los Santos, as well as the beaches, countryside and hills that surround the city, ripe for more criminal escapades and more than a little driving, all in the pursuit of that most noble of goals – the almighty dollar.

Larger and more ambitious than any Grand Theft Auto game so far, GTA V reinvents the series with a bold new direction. Expect greater open-world freedom, improved storytelling and missions, and enhanced online multiplayer options through Rockstar’s new Crews – which you can even carry over from Max Payne 3.

All new for GTA V on PS4, Xbox One and PC is First Person Mode. Explore the highly detailed Los Santos County in single player and GTA Online through your characters eyes, bringing you closer to the action than ever before in a GTA game. Watch the Video now!

Are you ready to head back to Los Santos? Order Grand Theft Auto V today!

*Release Dates:

17th September 2013 – Xbox 360 & PS3

18th November 2014 – Xbox One PS4


Fresh Start Loan #auto #lease #calculator


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Fresh Start Loan

You might not have perfect credit, but there are times you definitely need money fast. Up to now, predatory payday lenders were your only option. But now you can skip the enormous fees with a Money One Fresh Start Loan.

Summary

  • Avoid payday lenders, which add enormous fees on top of loan
  • Fresh Start Loan can help repair bad credit
  • Credit history does not affect decision-making
  • Credit report will not be pulled
  • $35 application fee is far less than payday lender fees
  • One $500 loan per 12-month period
  • Maximum of 3 Fresh Start Loans per member

Eligibility

  • Must be a Money One member for at least 3 months
  • Have a minimum of 3 months verified employment (non-seasonal)
  • Make contact with BALANCE Financial Fitness prior to receiving funds
  • Have never caused a financial loss to Money One
  • Proof of income required
  • Must keep loan at least 6 months prior to payoff to qualify for another Fresh Start Loan
  • Monthly payments are set up as automatic deposit or payroll deduction

A separate sub-savings account is required to open along with the loan. An automatic deposit from your payroll will be made into this savings account equal to the monthly payment on the Fresh Start Loan. This is designed to help you build a savings account for future needs while meeting your current needs.


Full Coverage Auto Insurance – Get Quotes & Save $$$! #prestige #auto


#cheap full coverage auto insurance
#

Full Coverage Auto Insurance

Did you know that most people pay too much for full coverage auto insurance? Why? Simply because they don t compare quotes and buy the first policy they get offered. If you would like to save up to 35% all you have to do is complete our quick online form. We will do all the hard work and find the best quotes based on your requirements. You will have the freedom to choose the policy that suits you, not to mention save time and money!

There is a question that bugs many car owners – is it a must that they obtain full coverage car insurance? Actually, it is not necessary – this is because the only stipulated insurance coverage required from car owners is liability car insurance. By definition, full coverage type of car insurance is simply a combination of comprehensive coverage, collision coverage and liability insurance.

Collision coverage

Collision coverage is a part of your auto insurance policy that provides financial protection from having to fix or replace your car if you are in a wreck. If you cause a wreck, this portion of your policy pays to replace your car based on the fair market value before the wreck or repair it to its previous condition. If you are in a wreck that is the other driver s fault, their liability coverage will pay for your damages. However, if you are at fault in the accident, your collision coverage will pay for the damage to your own vehicle.

Comprehensive Coverage (Comp, Other Than Collision, OTC)

If your car gets stolen, comprehensive coverage will help you.

As part of a full coverage auto insurance policy, comprehensive coverage is often sold to consumers. Comprehensive coverage is a part of your policy that will provide protection for your vehicle from other sources of damage. If your car is damaged by something other than a collision with another vehicle, it could be covered by this part of your policy. Some of the potential items that could be covered by comprehensive coverage are:

  • Fire damage
  • Theft
  • Vandalism
  • Storm damage
  • Tree branches
  • Hitting an animal

When you file a comprehensive claim on your auto insurance, you typically will not have to pay as high of a deductible as you would if you filed a collision claim. Since most of these incidents could not be your fault, the insurance company does not charge you as much.

A vehicle owner who purchases full coverage car insurance is assured of protection against anything that might go wrong when it comes to possible damages to his car or those that might be caused by the car. Full coverage is also assured if the vehicle is stolen. Unfortunately, because the law does not require full coverage car insurance, many car owners opt not to purchase them.

Full Coverage Car Insurance – Total Protection for Car and Owner

Most of the time, owners are able to purchase full coverage car insurance only because they are able to obtain a bank or financial loan or other types of loans. Most lenders and banking institutions include full coverage car insurance as an essential requirement when signing their vehicle automobile lending contracts. This is done to ensure a complete protection to the investment of the lender. If an accident happens, and it damages the vehicle, full coverage care insurance will either fix the car or replace it altogether. Basically, protection covers the car owner, as well.

For example, an individual is able to purchase a $50,000 luxury car but decides not to purchase full coverage car insurance. If an unfortunate thing happens to the car, like if it gets stolen, it still needs to be paid. This means the borrower continues to pay the monthly installment even if the car is not around anymore. This also means that he will not be able to afford to purchase another car. However, if full coverage car insurance is in place, it will protect both the car owner and lender. In case, a car is stolen, such insurance makes sure it is replaced.

Medical Expenses paid by Liability Insurance

Indeed, any individual does not choose for any accident to happen. However, it is a known fact that car accidents occur every day in the United States. In each case, the primary concern is the full safety of the driver and passengers. However, it cannot be avoided that there are cases when people get hurt in such accidents. These complications would obviously need medical, or even emergency attention, and of course, hospital expenses. However, if liability insurance is obtained together with the full coverage car insurance, such medical expenses will likewise be covered. Likewise, the two vehicles that are involved in the accident will also be covered if the car owner responsible for the accident has full coverage car insurance. This is likewise significant if the accident is deemed to be an act of God.

How to make Full Coverage Car Insurance Affordable

Generally, full coverage car insurance can be quite expensive. However, if a car owner gets them for his vehicle; it is undoubtedly worth it in case an accident might happen. There are a number of steps that an owner needs to do in order to get cheap full coverage car insurance. The first step to make is to maintain a clean and accident-free driving record. It is a fact that when applying for vehicle insurance, offenses in driving will increase the cost of the policy of a full coverage car insurance.

One way of ensuring an immaculate record is by avoiding fines and tickets. Another step to make in order to obtain an affordable, full coverage is by raising the deductible. If one selects a zero-deductible policy, the car owner must simply expect to pay much for insurance. However, if he decides to get a $500-deductible, this can make a tremendous difference to the insurance by a significant 10 percent. And considering the fact that the costs of living these days are high, such ten percent figure can result in huge savings.

Adding collision and comprehensive to your policy can provide you with some major benefits as a vehicle owner. If you are using a car loan to buy your vehicle, both of these options will help protect your financial position. For example, if your vehicle were to be damaged in a wreck, you would want the insurance company to pay to replace or repair it. This way, you re not stuck with a car loan on a car you can no longer drive. Before opting for a liability only insurance policy, you may want to consider adding these two components as well.

Regardless of whether you have a loan on your vehicle or not, adding collision and comprehensive makes sense if you have a newer vehicle. Unless you can afford to completely replace your vehicle out of pocket, and you don t mind doing so, these two coverage options are worthy of inclusion in your auto insurance policy.

Get Best Full Coverage by Obtaining Quotes Online

Save $$$ simply by comparing quotes

Its never been easier to compare full coverage car insurance quotes. You can contact each insurer individually or you can save a lot of time and get quotes hassle free by simply using our online form. Insurance industry experts recommend getting at least 3 quotes before making a decision. And yes, you may be shocked by how much do rates differ from company to company.

Lets face it, auto insurance its a tough business and all insurers are fighting for new customers by offering special deals and discounts. You should never go with the first quote you get or just renew your policy each year without looking for a better deal. Filling one easy form can save you hundreds of dollars.

What are you waiting for? Enter your details and requirements now, and see just how much you could save.


Free Multiple Car Shipping – Auto Transport Quotes #waukegan #auto #auction


#auto shipping quotes
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K2 AUTO SHIPPING:

Moving a car from one state to another can be a daunting process. Finding a reliable auto shipping outfit requires knowledge about a company s background and history as well as their rates. K2 tries to take some of the guess work out of the process by providing access to a network of licensed and insured auto transport companies. Information like this would usually require research and time, but K2 provides access by following a couple of easy steps. By providing some basic info in our quote form you will receive multiple competitive quotes from a selection of reliable shippers who will be able to provide basic service from door to door or tailored service for your individual needs. Although we are not a transport company we will put you in touch with an auto transport company to fulfill your needs. Info will come direct from the source!

Auto transport within the US?

If you are looking to move a car within the US than you have chosen the right site. From any location in any state to any other state we will give you the choices that you are looking for. Beginning with free auto transport quotes you will able to review the various companies info until you are comfortable with a final choice. After providing your basic shipping info multiple carriers will compete for your business.

Why use K2?

Once you submit the info it will usually take only minutes to receive competitive quotes and associated shipping info from licensed operators. As you review the info provided you will be able to educate yourself as to what is involved with this process and what concerns require attention. COMPANIES COMPETE AND YOU COLLECT THE BENEFITS!

Guidelines for a safe transport

After receiving your info best practices point  towards reviewing quotes and info from at least three different carriers. This will allow you to develop a degree of comfort with the carrier that you will eventually choose. As with most things there are some guidelines that will produce a smooth and uneventful shipping experience.

The first step is to ask for the contract and documents that each company uses along with background information of the company that you are proposing to use. Focus on shipping details especially pick up and delivery dates. Don;t hesitate to review in details and ask about pricing carefully requesting references from the outfit that you would like to employ as it is essential to understand all relevant info including insurance and eventual handling of the vehicle. Laws require auto shippers to carry insurance, but these required levels of insurance are often insufficient. It is worth checking with your homeowner s policy for additional insurance, but even this may leave you needing more. Fortunately, many car movers provide additional insurance with additional fees. Once you manage these issues you will be steps closer to having your transport begin.

In order for the shipping process to proceed smoothly a vehicle owner will need to remove personal effects from the car being shipped. Auto Carriers are not in the business of moving household effects and should not be considered so. When hiring a company it is important to consider all elements and potential complications of pick up and delivery from point of origin though to the end destination. Remember that auto shippers use carriers that are very large and may subsequently have difficulties navigating narrow streets or curved roads.

You will need to inspect your car before the process begins. Using paper and pen take note of all scratches and dents taking note if your car has any operation problems. It is essential to remember to run the fuel down so that your car is not a flammable danger in an accident. The transport process may involve many miles. so any can happen during its journey. It is always best to be cautious!

Both you and the car transport companies want an uneventful safe transport. Following the basic principles and steps explained here will help accomplish that. After all is said and done, moving your vehicle quickly and safely is everyone s goal!


Free Loan Amortization Schedule and Calculator #auto #loan #amortization


#auto loan amortization
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Loan Amortization Schedule

Loan Amortization Schedule

Description

This spreadsheet-based calculator creates an amortization schedule for a fixed-rate loan, with optional extra payments .

Start by entering the total loan amount, the annual interest rate, the number of years required to repay the loan, and how frequently the payments must be made. Then you can experiment with other payment scenarios such as making an extra payment or a balloon payment. Make sure to read the related blog article to learn how to pay off your loan earlier and save on interest.

The payment frequency can be annual, semi-annual, quarterly, bi-monthly, monthly, bi-weekly, or weekly. Values are rounded to the nearest cent. The last payment is adjusted to bring the balance to zero.

Version 1.6 lets you make multiple copies of the Schedule worksheet within the same workbook, to compare different loans and scenarios.

related blog articles

Loan Amortization Schedule – Commercial Version 1.6

The Commercial Version allows you to use this spreadsheet in your loan or financial advisory business. The spreadsheet is unlocked (i.e. not password protected) which allows you to see the calculations and customize the spreadsheet.

The header includes a place for the borrower’s name and your company info. View Screenshot. You could customize the header to create a prepared by section and include your logo if you wanted: Click Here to see an example .

The Vertex42 logo and copyright are outside the print area so that they don’t show up when you print the schedule.

60-DAY MONEY-BACK Guarantee

Try it out! If you don’t think it was worth the cost, I will refund your purchase.


FREE Auto Transport Quotes #statewide #auto #sales


#auto transport quotes
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Auto Transport & Car Shipping Quotes

Getting auto transport quotes is the perfect way to determine which car transport services you can afford on your budget and whether or not you can save money on this pertinent service. After all, it pays to shop around and America’s Auto Movers knows it. Get a vehicle shipping quote from a few different car shipping companies to determine where you can get the best value for your money. You can compare and contrast the cost of various services, depending on who is offering you the best bang for your buck.

Get Auto Shipping Quotes With Our Easy To Use Quote Generator

The best part about getting vehicle transport quotes is that it takes only minutes to fill out our easy, free to use car shipping quote form to get a slew of auto transport quotes instantly. You can peruse quotes from national companies as well as those located directly in your area. Then, you can look through each of the free vehicle shipping quotes to determine which company has the services to best fit your needs and then make the call from that point. This saves time that you could spend preparing for your move or conducting other tasks ahead of shipping your vehicle. It all starts with a free auto transport quote to figure out which company is the best fit for your needs.

The best part about allowing America’s Auto Movers to provide you with an auto shipping quote is that you will get customized packages from reputable companies that meet the standards and regulations set forth by the Federal Motor Carrier Safety Administration (FMCSA). This means that the companies from which you get by your free auto transport rates are qualified to properly move your vehicle from one point to the next.

Once you receive a free auto shipping quote, then make sure to communicate exactly what you need to the shipping company that you choose for your needs. You might also let the company in question know that you are shopping around to various companies to see if they can offer an even more competitive rate for you. America’s Auto Movers wants to ensure that you get the very best value for your dollars. Therefore, we try to provide you with a wide range of free car moving quotes to ensure that there are a few that meet your financial needs. Moreover, we try to arrange the quotes so that if you need special concessions, you can see automatically the cost you may incur as a result.

In fact, this is the benefit of multiple car shipping quotes. You have choice and you can determine which company has the services for which you are looking, how they might meet your vehicle shipping needs and how flexible they are willing to be in terms of your budget. After all, you are the consumer that is spending your hard earned money to ship your car with the company of your choice. Finding the right one starts with a free rate quote and hopefully ends with a solid service offering that leaves you with an enhanced level of customer satisfaction that your car was moved in a timely fashion without incident.

Start by filling out the form, or call America’s Auto Movers at 1 (800) 913-4661 to get your free vehicle shipping rate quote today!


Four Post Automotive Lifts #auto #traders.com


#auto lift
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Four Post Automotive Lifts

About Us

National Auto Tools, Inc. is a family owned and operated business. We have over 25 years of hands on experience in the automotive lift equipment business. National Auto Tools is not just your sales organization. We also warehouse, ship, and service all of our products. In our 80,000 square feet of warehouses we house and inspect all of our equipment.

Our Warehouses

Conditions:

Lift Gate Service

Financing Options

Start your shop Today!

National Auto Tools offers financing options via Paypal and Navitas Lease Corp. for all credit types and new and established businesses.

  • Low Upfront Acquisition Cost: Leasing requires only a small, manageable monthly payment. All equipment, services, delivery, and miscellaneous costs can be wrapped into the same lease.
  • Conserve Working Capital: Equipment Leasing can ease the strain on working capital. Clients can continue to leverage their current lines of credit at other financial institutions for emergency needs, current cash flow purposes, investments, and other profit generating activities, while acquiring the equipment they need.
  • Low Monthly Payments: Leasing arrangements range from 24 months, where the equipment is generally depreciated, to up to 60 months, where the monthly payment is generally deducted as an operating expense.
  • Tax Savings: When structured properly, lease payments are 100% deductible for tax purposes, resulting in a lower after-tax cost than conventional financing or outright purchasing.
  • All Credit Types are considered

Quality and Safety

ISO 9001 and CE Certification


Free Automotive User Manuals #auto #refinance #calculator


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Top 5 Biggest Mistakes to Avoid When Buying a Car #auto #trade


#buying a car
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Top 5 Biggest Mistakes to Avoid When Buying a Car

Continue Reading Below

5 Car Buying Mistakes to Avoid

When you re in the market for a new vehicle, the best thing you can do for yourself is be prepared. So here are the 5 biggest mistakes to avoid when purchasing your next vehicle:

  1. Thinking in terms of monthly payment. Not very many people walk into a car dealership and plan on writing a check or paying cash for their vehicle, and the salespeople know this. In fact, many of them rely on this fact in their sales pitch. This also explains why the negotiation almost always revolves around how much you can afford to pay for the car each month. But focusing on a monthly budget is by far the easiest way to spend too much on your next vehicle. When negotiating a price, the dealer can do a number of things to make almost any vehicle fit your budget. They can do this by adjusting interest on the interest rate. offer you a longer term on the loan, or restructure the financing in a way that creates a payment that fits into your budget. It may not seem like a big deal, but even a few extra percentage points or an additional year on the loan can add thousands of dollars to the total cost of the vehicle. When the average car payment in the U.S. has been between $471 and $482 per month for the last few years, it s worth looking at what that money is actually getting you.
  1. Buying new versus used. A vehicle is not an investment – at least not a good one. Vehicles depreciate in value quickly, so when you buy a new vehicle, you can expect it to continuously decrease in value from the moment you take ownership. In fact, a new car typically decreases in value by 25%-40% in the first two years. The best thing you can do is to let someone else take the initial 40% hit by buying a slightly used vehicle that is a year or two old.

Years ago, there was a good reason to buy new and that was for the warranty. Today, most vehicles have longer warranties that can still be in effect even if you buy a car that is a few years old. Additionally, you can often opt to purchase an extended warranty, which is typically far cheaper than the value the car lost in the first year or two.

Continue Reading Below

  1. Choosing the wrong vehicle. Are you a single person who needs a vehicle just to get you to and from work every day? Then you probably don’t need that $45,000 SUV that seats eight and can tow 5,000 pounds. You want a vehicle that meets your specific needs. Sure, there are a lot of cars and trucks out there that will turn heads, but keep in mind that many of these will come at a premium.
  • Not taking into consideration other costs. The actual cost of the vehicle is important, but what is often overlooked are all of the hidden long-term maintenance and insurance costs that go along with a vehicle. Keep in mind that car insurance premiums typically increase with the value of a vehicle, so buying a more expensive vehicle will increase your annual insurance costs. This can amount to hundreds, if not a thousand dollars or more per year.

    In addition to insurance, you have to take into account all of the maintenance costs. Vehicles need oil changes, new brakes, air filters, tires, and much more. Luxury or performance models are generally going to require higher end replacement parts that can cost much more than their standard counterpart.

    Finally, you need to consider gas consumption. The average person will drive between 10,000 and 15,000 miles per year. A vehicle that gets an average of 30 miles per gallon with today’s gas prices. you can expect to spend between $1,000 and $1,500 per year on gas alone. Now, consider a vehicle that only gets about 15 miles per gallon. Now you’re spending $2,000 and $3,000 each year.

    When you think about it, by the time you factor in gas, oil changes. insurance and regular maintenance, you can expect to spend $3,000 to $5,000 in addition to your monthly car payment each year!

  • Putting $0 down. There are a lot of incentives when it comes to buying a car, and you can often put yourself in a brand new vehicle of your choice with no money down. Sounds great, right? Not so fast. Remember, vehicles depreciate rapidly, so if you finance the full purchase price, you often find yourself upside down on the loan immediately.

    Being upside down simply means that you owe more than the car is worth. Remember, there are taxes and other fees that go into a new car purchase, and they are typically rolled into the loan if you don’t put anything down. That means as soon as you drive it off the lot, you owe more money to the bank or dealership than the vehicle is actually worth.

    This is a very bad idea if you intend on selling or trading the car in before the loan is paid off. If after three years you need to get a new vehicle and you owe $10,000 while the car is only worth $8,000, you will have to either pay $2,000 out of your pocket, or finance that into your new loan. It may feel good to walk out of the dealership with a brand new car without having to fork over a dime up front, but it will cost you.

    Want more tips for saving money? Sign up for the Money newsletter  and get insights from our personal finance experts, delivered straight to your inbox.