How To Buy Used Vehicles Debt Free

Written by John Cook

Continued from page 1

Now we can comparerepparttar two decisions. If you had boughtrepparttar 102682 new 2005 you would have a paid off 2005 in 2011 and you would have paid interest ($3,623.40 to be exact) on top ofrepparttar 102683 purchase price. Using our example you could have had a 2006 one year later in 2012 completely paid off and your money made interest for you while in your savings account.

These numbers are all conservative and you could do much better by continuing to save and delay your used car purchases longer than one year. This would berepparttar 102684 best thing to do so that you do not keep losing value on selling cars.

For example, if you kept saving and bought a used car every two years you could have bought a 2008 Honda Accord in 2012 completely paid for. When you stretch out your used car purchases while continuing to save, you can purchase much newer vehicles. With this method you can always purchase newer used cars and never pay interest to anyone.

The key to making this work isrepparttar 102685 disciplined savings. If you have decided that you can make a new car payment, you can putrepparttar 102686 money in a savings account earmarked for used cars.

Also remember that since you do not have a car payment, if you have a financial problem like a job layoff etc., you will not have to worry about losing your vehicle. Driving paid for used cars is a wise financial practice. It is said that it isrepparttar 102687 millionaires that purchase and drive used cars. It is those in deep debt that drive new and leased vehicles.

The prices for these vehicles all came from Kelley Blue Book. The purchase prices are just underrepparttar 102688 KBB retail value andrepparttar 102689 selling prices are just overrepparttar 102690 private party value. The values that I used were conservative and you could do much better, especially if you hold onto your vehicles longer while continuing to save.

John Cook is the author of Finance For, a website designed to assist families in making smart financial decisions. The burden of seemingly insurmountable debt is destroying too many families. You can read more at

How To Never Make Another Car Payment

Written by Tony Puckerin

Continued from page 1

You will also have to make a decision to continue drivingrepparttar vehicle you are currently paying, this plan does not work if you decide that you need a new vehicle before paying offrepparttar 102681 one you are driving. The closer you are to your end of term,repparttar 102682 better position you will be in to get what you want. But there is no rush, when you pay it off you should then begin to putrepparttar 102683 amount of your previous payment into your vehicle fund. Now withrepparttar 102684 equity in your current vehicle and your savings you can begin shopping.

Consideringrepparttar 102685 prices of automobiles today, there is a high probability that because of your vehicle depreciation andrepparttar 102686 small savings, you might not have enough money to buy a new vehicle. If you do not have enough to purchase what you want, there are always other options;repparttar 102687 first is to buy what you can afford. The alternative (worst-case scenario) is facingrepparttar 102688 dealer with no savings and having negative equity inrepparttar 102689 vehicle you are currently driving.

Strange concept, I know, but when its all said and done, transportation is transportation, it gets you from point A to point B. The only difference is what you are willing to pay to get there. For many, because ofrepparttar 102690 values they hold "whatever it takes" is an appropriate answer butrepparttar 102691 mind set has to now change to discipline andrepparttar 102692 desire to stop making lifetime payments.

If you don't have a car right now and are enjoyingrepparttar 102693 bliss of not having a financial obligation to an automobile, you can begin your savings immediately so that whenrepparttar 102694 time comes you will have a sizable chunk to begin your search for your new car. You are in a very good position if you are not inrepparttar 102695 market presently looking for a vehicle.

You haverepparttar 102696 time to save and plan for your next automobile. Begin repparttar 102697 "Freedom From Car Payments Fund" today and in a couple of years you will really be much better off. Contrary to what dealers try to make you believe, car ownership does require long term planning in order to breakrepparttar 102698 cycle of swapping payments every 3-4 years. It is a long term serious investment.

It's that simple. Easy, no but simple, and it can be done. It requires discipline and patience two characteristics that are not easily harnessed in byrepparttar 102699 now generation. The obvious benefit is no car payment but you will also save on insurance and have much more disposable income for other necessities. With determination, a little vision and planning anyone can drive exactly what they want; withoutrepparttar 102700 burden of a monthly payment. Could that be you?

Tony Puckerin is an Automobile Broker in Southern Florida who represents clients at local automobile dealerships. His service has recently expanded to Internet and cover the United States and a few select international clients. For more information go to

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