Let’s say a 2012 Toyota Camry is selling at $23,000 and you have the cash in hand. Is it worth to buy a car with cash? This very much depends on the interest rates, your cash portfolio, your income, and also your liking. The new car interest rates and ROI (Return On Investment) rates play an important role in answering this question. If the loan interest rate is much higher than the savings interest rate, yes you may consider buying it with cash, otherwise, considering buy it with loan and let the money grow. See the example below. (more…)
Category: Car Buying
A complete, unique and special car buying guide that will lead you to the most compatible car for your situation.
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Step 6: Buying a new car
If you have gone through Step 1 until Step 5, you should already have a car you want to buy in mind. You may refer to Step 7 if your decision is to buy a used car. Buy a new car may sound like walk into a show room, test drive, and make payment. That is wrong! There are several new car buying tips you need to know as a savvy shopper to get the best new car deal in your town. Here we share with you step by step on how to buy a new car. (more…) -
Step 5.1: Money for new and used car
For those who are still in doubt to buy either new or used car, here we will explain in details with a clear chart showing the depreciation on new car, the differences between the interest rate and monthly car payment. The chart compares the prices between new and used cars. We choose one of the best selling cars in the US as an example – the 2012 Toyota Camry MSRP price is from $21,955. (more…) -
Step 5: New Car versus Used Car
New and used cars are enemies for more than few decades. Many experts have brought out their point of view based on many factors with supportive logics and reasons. For us, there is no correct answer that can be applied to anyone who is looking to buy a car. There is no one size fits all but you can find the size that fits you the best. Here we created a list of conditions to help car buyers to find the best answer based on the situation. (more…) -
Step 4: Car Leasing versus Car Buying
Before decide either to buy a new or used car, leasing may come into your mind. This is because there are many people out there keep shouting “Leasing is much better than buying, just leasing, don’t buy it!” Yes leasing is another choice other than buying a new, used, repossessed, impounded, or auction cars. Car leasing brings a lot of advantages and also disadvantages. Therefore, you have to evaluate it according to ability, usage, and budget.What is car leasing?
Leasing is where a lease company or car owner (lessor) provides vehicles for leasee to use it for a fixed period of time. Leasee has to pay the monthly lease payment according to the lease contracts and agreements. Leasee has to determine the leasing period and also the affordable monthly payment. Often, the monthly payment shall not over 15% of the net income. (more…)