Monthly Archives: April 2016

Saving Green with your Car Color

car sale newletter

Things to think about when Purchasing a Car that may Save You Money

When picking the shade of a car to buy you might be thinking mostly about making a personal statement. But you may also want to think about how the hue will affect your bank statement too. Here are some factors to consider when making the choice.

Safety
One of the keys to avoiding costly accidents is to be seen by others on the road as clearly as possible. If you do a lot of driving at night, a dark car might not be a good buy since it will be harder for drivers around you to make you out from the surroundings. White is a good choice both for driving at night and in general. Gray cars on the other hand can be very difficult to see under certain conditions. Some manufacturers have even stopped making gray cars because of this.

Resale value
Unless you are buying a vehicle on its last legs, you will want to give some thought to your ability to sell the car after you are done with it. That lime green ride may fit your zany personality, but it could cost you hundreds of dollars when it comes time to sell the vehicle. Silver and white tend to be popular choices for those buying a used car.

Cooling
If you live in an area that experiences high temperatures, having a dark car could mean more of the sun’s energy absorbed into the vehicle and more money spent on gas because of the need to run the air conditioning longer.

Cleaning
Unlike with clothes, the color black doesn’t hide stains very well on cars. In fact, black might be the worst color for dirt and grime – they tend to really stand out against the dark background. If you buy a darkly-colored car you may end up paying for more trips to the car wash to keep your vehicle looking sharp. Silver cars are known for keeping a clean appearance longer.

A couple of myths dispelled
There is no evidence that red cars get more speeding tickets. Also, no insurance company has ever said it charges more or less for certain car colors.

Steps for Rebuilding Credit

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Know Your Starting Point
Obtain a copy of your credit report from all three credit bureaus so that you have a clear understanding of what is says about you and your current credit scores.

Develop A Plan
If there are errors on your credit report, have the credit bureaus investigate and correct them. Set goals and time frames for future major credit endeavors.

Bankruptcy Today – Homeowner Tomorrow
If you recently filed bankruptcy or if you don’t have any open credit, it is necessary to have new positive items being reported on your credit report. Try to obtain several new accounts or sources such a secured credit card, department store cards or being put on someone else’s account as an authorized user. The lower your starting credit scores, the more your need to have positive items reporting.

For secured cards remember the following:

  • Never carry over balances as the interest rates are very high.

  • Purchase one thing on credit that you would normally pay cash for – say for $20.00 and as soon as the bill arrives write the check and pay the bill. If paid in full during the 25 day grace period no interest is charged. Follow this practice consistently and NEVER miss a payment.

Keep Older Accounts Open
If you already have credit open, keep the accounts you have had for the longest period of time. Even if there were late payments on it in the past, pay it on time now and the length of time it has been open will help your credit.

Make Your Payments On Time
Always.

Pay Down Your Credit Card Balances
Target to have the total amount of outstanding revolving debt at 40%, or less, of the total available credit limits.

Once new positive sources are created, avoid all unnecessary inquiries – don’t fill out any additional applications for credit.

For home purchase or refinance, old collections/judgments/unpaid taxes/ unpaid child support/ must be dealt with. Look at the date of the item, compare to statute of limitations for that item, and plan a strategy to address each.