When you factor in a car payment, registration, insurance, fuel and maintenance, for most families’ vehicles are only behind housing in terms of monthly expenditures. As a consumer, what you have to be careful of is not having your transportation expenses become so great that they interfere with building long term wealth and other financial goals. For that reason, I often recommend to clients that they strongly consider buying used vehicles instead of new. Not only does someone else take the initial depreciation hit there can be substantial savings on insurance and registration costs as well.
Here are some tips …Read More