Cars and Transportation http://www.wisebread.com/taxonomy/term/4812/all en-US The 5 Best Electric Bicycles http://www.wisebread.com/the-5-best-electric-bicycles <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-5-best-electric-bicycles" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_electric_bicycle_517640743.jpg" alt="Man riding electric bicycle " title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>An electric bicycle can provide the perfect hassle-free commute for urban dwellers. The alternative form of transportation can save you money on parking, gas, and car maintenance. It can also help you quickly navigate through traffic, cut down on your commute time, and reduce your impact on the environment. Best of all, in most states, you don&rsquo;t even need a license or registration for your new e-bike.</p> <h2>What is an electric bicycle?</h2> <p>An electric bicycle has pedals and an electric motor, so it looks like a bike but rides like a motorcycle. The rider can usually choose to manually pedal the bike or use the electric power of a battery and motor.</p> <p>An electric bike puts much less stress on the knees and joints, so they are less tiresome to ride than a traditional bicycle. Pedal-assist can help you go further with less effort by assisting when you are climbing up hills and reducing how much you need to pedal.</p> <h2>Top 5 electric bicycles</h2> <h3>Ancheer Power Plus Electric Mountain Bike</h3> <p><a href="http://amzn.to/2uhAEkj"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/ancheer.jpg" width="245" height="245" align="right" alt="" /></a>Amazon&rsquo;s #1 best-seller in adult electric bicycles, the <a href="http://amzn.to/2uhAEkj" target="_blank">Ancheer Power Plus Electric Mountain Bike</a> has a lightweight, ergonomic design that allows for easy travel and storage. It has a power display, carbon steel comfort shock absorption, anti-slip wear-resistant tires, high-efficiency front and rear disc brakes, adjustable seat, bright headlight, horn, three-speed smart meter button, and high-carbon aluminum alloy frame. It has two modes: e-bike and assisted, so you can enjoy pedal-assist for easier cycling. The quiet, antiskid high-speed brushless gear motor can go up to 30 miles at more than 15 mph.</p> <p>It includes a removable environmentally friendly lithium ion battery for low carbon travel, a smart lithium battery charger, and easy charge port system for easy charging in four to six hours. It also includes a tool kit and assembly instruction video, or you can choose the free assembly service. This is one of the &ldquo;most wished for&rdquo; items on Amazon and is frequently recommended online.</p> <p><a href="http://amzn.to/2uhAEkj" target="_blank"><em>Currently $615.99 on Amazon</em></a></p> <h3>Cyclamatic CX2 Bicycle Electric Foldaway Bike</h3> <p><a href="http://amzn.to/2uWpYtg" target="_blank"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/cyclamatic.jpg" width="245" height="201" align="right" alt="" /></a>The convenient <a href="http://amzn.to/2uWpYtg" target="_blank">Cyclamatic CX2 Bicycle Electric Foldaway Bike</a> quickly folds in half for easy storage and transport thanks to a unique quick-lock-release system and quick-release front wheel. It features six-speed Shimano gears and front and rear electric lights. The powerful 250-Watt brushless motor is low maintenance and can go a max distance of 31 miles at a max speed of 15 mph. The upgraded quick-release lithium ion battery offers a full recharge in four to six hours.</p> <p>You can use this as a normal bike or with the &quot;partial electric assist&quot; mode to get you further with less effort. It is also safe to ride in the rain thanks to front and rear mud guards. It is ideal for anyone who doesn&rsquo;t have a lot of space to devote to a new bike. It is an Amazon best-seller and has outstanding reviews online.</p> <p><a href="http://amzn.to/2uWpYtg" target="_blank"><em>Currently $549.99 on Amazon</em></a></p> <h3>Watseka XP Cargo-Electric Bicycle</h3> <p><a href="http://amzn.to/2uhbFh9" target="_blank"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/watseka.jpg" width="245" height="165" align="right" alt="" /></a>The <a href="http://amzn.to/2uhbFh9" target="_blank">Watseka XP Cargo-Electric Bicycle</a> offers both selectable pedal assist and a twist throttle for greater rider flexibility. It reaches speeds up to 14 mph and travel distance up to 18 miles. It has plenty of power thanks to a 250-Watt brushless rear drive motor with a 36V 9Ah removable AGM battery pack for long lasting battery life. It also has impressive features like a step through/low step frame design, easy shift six-speed Shimano gear set, telescopic front-fork suspension, seat springs, adjustable seat and handlebar height, and easy tilt seat design for quick battery removal.</p> <p>The commuter bicycle offers the ultimate in convenience thanks to a front basket and rear cargo rack. It also includes a charger, front light, rear light, horn, bell, and two ignition keys. It is available in two colors and only requires minor assembly. It comes from the trusted Watseka brand and is recommended by Heavy.com.</p> <p><a href="http://amzn.to/2uhbFh9" target="_blank"><em>Currently $499.99 on Amazon</em></a></p> <h3>SWAGTRON SwagCycle E-Bike</h3> <p><a href="http://amzn.to/2uWgGxx" target="_blank"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/swagtron.jpg" width="207" height="245" align="right" alt="" /></a>The <a href="http://amzn.to/2uWgGxx" target="_blank">SWAGTRON SwagCycle E-Bike</a> offers a pedal-free design that feels like a bicycle but rides like a moped. The lightweight folding e-scooter features a durable aerospace-grade aluminum frame, bright headlight, brake light and reflector, horn, and micro USB charging port. It can go 15 mph and has a 10-mile range. It uses a high-capacity 36V lithium ion battery and a 250-Watt motor that recharges in as little as two and a half hours. With the handlebar display, you can accelerate, brake, check battery life, turn on the headlight, and honk the horn. The collapsible front stem allows you to easily store and transport the bike.</p> <p>This has zero emissions and is eco-friendly. It is available in black or white, and includes a charging adapter. It is an Amazon best-seller and one of the &ldquo;most wished for&rdquo; items on Amazon. It is also covered by a one-year limited warranty.</p> <p><a href="http://amzn.to/2uWgGxx" target="_blank"><em>Currently $399.99 on Amazon</em></a></p> <h3>Cyclamatic Power Plus CX1 Electric Mountain Bike</h3> <p><a href="http://amzn.to/2w3wxdH" target="_blank"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/cx1.jpg" width="245" height="165" align="right" alt="" /></a>The <a href="http://amzn.to/2w3wxdH" target="_blank">Cyclamatic Power Plus CX1 Electric Mountain Bike</a> features a premium mountain bike frame design with the convenience of three pedal assist modes. It is easy to use thanks to a quick-shift 21-speed Shimano gear system, quick release front wheel, and Kenda Tyres. The upgraded model also has a 250-Watt brushless motor and upgraded lithium-ion battery for a smoother ride. The comfortable bike can reach speeds of up to 15 mph, with a range of 25-31 miles per four- to six-hour charge.</p> <p>The popular e-bike is suitable to ride in most terrains and can be safely used in the rain. It has minimal assembly and comes with free optional professional bike assembly and basic fit. It also comes from the trusted Cyclamatic brand and is recommended by Heavy.com.</p> <p><a href="http://amzn.to/2w3wxdH" target="_blank"><em>Currently $549.99 on Amazon</em></a></p> <p>And those are our recommendations for the best electric bicycles. As always, be sure to check <a href="http://www.wisebread.com/buying-calendar" target="_blank">Wise Bread's Buying Calendar</a> to learn when and how to buy just about anything!</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthe-5-best-electric-bicycles&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThe%25205%2520Best%2520Electric%2520Bicycles.jpg&amp;description=The%205%20Best%20Electric%20Bicycles"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/The%205%20Best%20Electric%20Bicycles.jpg" alt="The 5 Best Electric Bicycles" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/andrea-cannon">Andrea Cannon</a> of <a href="http://www.wisebread.com/the-5-best-electric-bicycles">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-folding-bicycles">The 5 Best Folding Bicycles</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-bicycle-lights">The 5 Best Bicycle Lights</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-mountain-bikes">The 5 Best Mountain Bikes</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-travel-adapters">The 5 Best Travel Adapters</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-shampoos-for-frizzy-hair">The 5 Best Shampoos for Frizzy Hair</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Shopping 5 best bikes e-bike electric bicycle product reviews shopping transportation Wed, 02 Aug 2017 08:00:08 +0000 Andrea Cannon 1974060 at http://www.wisebread.com Best Money Tips: Practical Driving Tips That Save Gas — And Money http://www.wisebread.com/best-money-tips-practical-driving-tips-that-save-gas-and-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-practical-driving-tips-that-save-gas-and-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_driving_car_512161202.jpg" alt="Woman using driving tips to save gas and money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found articles on practical driving tips that help you save on gas, summer essentials that are good for your body and your budget, and sneaky ways to get paid for exercising.</p> <h2>Top 5 Articles</h2> <p><a href="https://www.dumblittleman.com/fuel-efficient-driving-tips/">3 Practical Driving Tips To Save You Money On Gas</a> &mdash; When you reach the top of a hill, use the downhill slope to gain speed without using any gas. [Dumb Little Man]</p> <p><a href="http://shebudgets.com/lifestyle/summer-essentials-designed-to-save-your-life-and-your-budget/67796">Summer Essentials Designed to Save Your Life and Your Budget</a> &mdash; Your lips are part of your skin and need to be protected, too. Use lip balm with SPF when you'll be out in the sun, and carry some with you so you can reapply throughout the day. [SheBudget]</p> <p><a href="https://www.thepennyhoarder.com/jobs-making-money/ways-to-get-paid-to-exercise/">16 Sneaky Ways to Get Paid While You Get in Shape</a> &mdash; Become a walking tour guide and share your town's history and nature. You'll get good exercise in and be paid for it! [The Penny Hoarder]</p> <p><a href="https://www.popsugar.com/smart-living/How-Travel-Without-Hurting-Environment-43715397">Here's How to Travel in Ways That Don't Trash the Planet</a> &mdash;Embrace the bicycle, especially if you're visiting a city. Odds are, they'll have a bike share so you don't even have to bring your own. [PopSugar Smart Living]</p> <p><a href="http://everythingfinanceblog.com/20818/pay-your-bills-ahead-schedule.html">6 Reasons You Should Pay Your Bills Ahead of Schedule</a> &mdash; Paying your bills early will give you more time to fix any mistakes that may crop up. [Everything Finance]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.bestkeptself.com/six-tips-slaying-self-doubt/">Six Tips For Slaying Self-Doubt</a> &mdash; One of the easiest ways to build your confidence is to set a small goal &mdash; and hit it! [Best Kept Self]</p> <p><a href="https://lifehacks.io/start-talking-to-strangers-with-ease/">7 Simple Hacks To Start Talking to Strangers with Ease</a> &mdash; A surefire way to start a conversation with a stranger is to say hello with a big smile. [Life Hacks]</p> <p><a href="http://productivitytheory.com/5-ways-not-let-peoples-stress-wear/">5 Ways Not to Let Other People&rsquo;s Stress Wear You Down</a> &mdash; When you feel yourself experiencing secondhand stress, it's okay to end the (often one-sided) conversation. [Productivity Theory]</p> <p><a href="http://www.positivityblog.com/improve-mood-right-now/">How to Improve Your Mood Right Now: 3 Simple Habits</a> &mdash; Sometimes you don't feel positive or enthusiastic, but you can act as if you are and have the emotions follow. [The Positivity Blog]</p> <p><a href="https://www.csmonitor.com/Business/2017/0713/Male-nurses-Female-firefighters-Yes-as-career-boundaries-erode">Male nurses? Female firefighters? Yes, as career boundaries erode.</a> &mdash; More women are entering traditionally male-dominated fields, and vice versa. [The Christian Science Monitor]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amy-lu">Amy Lu</a> of <a href="http://www.wisebread.com/best-money-tips-practical-driving-tips-that-save-gas-and-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/can-acetone-dramatically-increase-your-gas-mileage">Can Acetone Dramatically Increase Your Gas Mileage?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/17-things-car-salesmen-dont-want-you-to-know">17 Things Car Salesmen Don&#039;t Want You to Know</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/remove-car-dents-quickly-and-cheaply">Remove Car Dents Quickly and Cheaply</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-11-best-parking-apps-for-your-city">The 11 Best Parking Apps for Your City</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-6-best-ways-to-sell-your-car">The 6 Best Ways to Sell Your Car</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation best money tips save gas Mon, 17 Jul 2017 08:30:10 +0000 Amy Lu 1984727 at http://www.wisebread.com 6 Reasons You Should Buy the Rental Car Insurance http://www.wisebread.com/6-reasons-you-should-buy-the-rental-car-insurance <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-reasons-you-should-buy-the-rental-car-insurance" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/loss_adjuster_inspecting_car_involved_In_accident.jpg" alt="Loss Adjuster Inspecting Car Involved In Accident" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Erika Plank Hagan knows all too well the value of buying rental car insurance. In July 2013, Hagan and her family drove from Connecticut to Ohio in a rental car to attend her brother's wedding. While they were on the road, Hagan's eldest son, who has special needs, got bored in the back seat and decided to wrap the middle shoulder harness belt around his neck &mdash; when it suddenly locked.</p> <p>They happened to be driving through a construction zone at the time, meaning there was no place for them to pull over. Hagan's husband was driving, so she leapt into the back seat and wedged two fingers between the seat belt and her son's neck, and they drove that way until they were able to pull over. The belt would not unlock, and so the Hagans had to cut their son out of the shoulder harness. Thankfully, he was shaken, but unharmed.</p> <p>This terrifying story has Hagan almost believing in premonitions, however. Her husband just happened to pack a pair of scissors, which he normally wouldn't do because he was so used to traveling by air. In addition, though the Hagans do not usually buy car rental insurance, they happened to agree to the rental insurance for this trip, meaning they did not have to pay for the cut shoulder harness.</p> <p>This is the story that also got me to question my own belief that rental car insurance is an unnecessary add-on that car rental companies use to upsell their customers. While few drivers will experience a scenario like the one Hagan and her family went through, it is important to recognize that there are definitely good reasons to sign up for the rental car insurance.</p> <h2>1. You will have to pay your auto insurance deductible</h2> <p>Relying on your own personal insurance can be more costly than signing up for the rental car insurance because of your deductible. Depending on what you have set as your deductible, you might find yourself staring down a bill as high as $1,000 after an accident in a rental car. The daily cost of rental insurance will surely be less expensive than your deductible, and paying that cost can provide you with a great deal of peace of mind.</p> <h2>2. Your auto insurance does not cover &quot;loss of use&quot;</h2> <p>The majority of auto insurance policies will cover your rental car within the limits of your collision and comprehensive coverage. As long as you are prepared to pay your deductible in the event of an accident or other damage to the car, then it can seem as if your personal auto insurance should be enough.</p> <p>Unfortunately, that assumption does not take into account all of the costs of damage to a rental car. In many states, automobile insurance does not cover what's known as &quot;loss of use.&quot; When the rental car is in the shop for repairs, the company is losing the money it would earn from renting that car out. You will be on the hook for that cost if you are relying on your auto insurance to cover damage to a rental car.</p> <h2>3. Rental car insurance might protect you from auto insurance rate hikes</h2> <p>One major downside to relying on your personal auto insurance to cover a claim on a rental car is the fact that your insurance rates will probably go up afterward. However, using the rental car insurance you purchased from the company will not increase your auto insurance premiums in certain cases. According to Hannah Rounds, Consumer Finance Expert at Unplanned Finance, &quot;If you hit a pole while insured by a rental car company, you'll probably escape rate hikes. If you hit another vehicle, you should expect to see your primary auto insurance rates increase.&quot;</p> <p>Here's how it works: National rental car companies sell primary collision damage waivers, which means your rental vehicle is covered at 100 percent. If you purchase the rental car insurance and have an accident, the rental car company won't go after your personal insurance for money, and they normally don't report damage. As a result, your insurance claim remains outside of mainstream reporting, and your rates remain unchanged. However, if there are police involved in your accident, then the incident will be reported to your Motor Vehicle Record, which means you might see your premiums rise even if you don't make a claim with your insurance.</p> <p>Finally, there are multiple types of rental car insurance. Supplemental liability insurance through the rental car agency covers any damage not already covered by your personal auto insurance, meaning that a claim will be made to your insurance and you will likely be seeing a rate hike as a result.</p> <h2>4. Insurance provided by your credit card may not cover enough</h2> <p>Travelers who have both a robust automobile insurance policy and a credit card that offers car rental coverage may believe that they are completely covered in case of a rental car mishap. Unfortunately, credit card coverage is not nearly as comprehensive as you might think. (See also: <a href="http://www.wisebread.com/what-does-car-rental-insurance-really-cover-on-your-credit-card?ref=seealso" target="_blank">What Does Car Rental Insurance Really Cover On Your Credit Card?</a>)</p> <p>To start, some cardholders may not be aware that they need to use the specific card offering rental car insurance benefits when they rent the car. It's not enough to be a cardholder. You must use the card with rental insurance benefits to rent the car in your own name in order to access the benefits. You must also decline all optional coverage offered by the rental car company.</p> <p>In addition, not every card offers these insurance benefits, so you need to know ahead of time if your card will protect you.</p> <p>Credit card rental insurance also has some pretty specific limitations. For instance, some types of vehicles are excluded from credit card rental insurance coverage, including pickup trucks, some SUVs, and expensive and/or exotic vehicles. The traveler who dreams of exploring the city in a Porsche needs to remember this limitation.</p> <p>Furthermore, many card policies won't cover administrative fees charged by the rental car company, and none will cover diminished value. Diminished value refers to the reduction in a rental car's resale value caused by an accident. If you get into a crash that is serious enough to lower the car's value but not serious enough to total it, you'll be on the hook for that diminished value if you are relying on your credit card for rental insurance coverage.</p> <h2>5. Business travelers may not be covered by personal auto insurance</h2> <p>My father used to fly to Arizona for an annual business conference, and then stay for a few extra days to enjoy the sunshine. That kind of business/pleasure trip can be a land mine for car renters. That's because while their company may cover the insurance for car rental during the business portion of the trip, their personal auto insurance will likely not cover them for the pleasure part of the trip. One workaround for this would be returning the car and then re-renting it once the trip ticks over from business to pleasure &mdash; but you might find that buying the rental car insurance from the start is an easier fix for this problem.</p> <h2>6. International travel is often excluded from personal auto insurance</h2> <p>If you are renting a car outside of the United States, you may or may not be able to count on your personal auto insurance and/or your credit card's rental insurance for coverage. Many auto insurers specifically limit their coverage to driving in the States, and credit cards specifically exclude several countries from their rental insurance benefits.</p> <h2>Better safe than sorry</h2> <p>By its nature, insurance is something you hope you never have to use. The cost of rental car insurance can make it seem like it's financially smarter to skip it and hope for the best. But if you ever do have a problem with a rental car, you'll be glad you bought the insurance and didn't rely on hope to keep you financially fit.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F6-reasons-you-should-buy-the-rental-car-insurance&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F6%2520Reasons%2520You%2520Should%2520Buy%2520the%2520Rental%2520Car%2520Insurance.jpg&amp;description=6%20Reasons%20You%20Should%20Buy%20the%20Rental%20Car%20Insurance"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/6%20Reasons%20You%20Should%20Buy%20the%20Rental%20Car%20Insurance.jpg" alt="6 Reasons You Should Buy the Rental Car Insurance" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/6-reasons-you-should-buy-the-rental-car-insurance">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-things-you-should-know-about-rental-car-insurance">3 Things You Should Know About Rental Car Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-to-drop-collision-coverage-on-your-car">When to drop collision coverage on your car</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-the-right-rv-and-vehicle-insurance-protects-your-summer-fun">Here&#039;s How the Right RV and Vehicle Insurance Protects Your Summer Fun</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-a-claim-will-impact-your-car-insurance">Here&#039;s How a Claim Will Impact Your Car Insurance</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-times-you-shouldnt-file-an-insurance-claim">7 Times You Shouldn&#039;t File an Insurance Claim</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Insurance accidents auto policies collision damage deductibles international travel loss of use rate hikes rental car insurance waivers Thu, 13 Jul 2017 09:00:10 +0000 Emily Guy Birken 1981389 at http://www.wisebread.com Ask the Readers: What Do You Look For in a Car? http://www.wisebread.com/ask-the-readers-what-do-you-look-for-in-a-car <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/ask-the-readers-what-do-you-look-for-in-a-car" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_new_car_184374908.jpg" alt="Woman looking for specific things in a new car" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p><em>Editor's Note: Congratulations to Elena, Emily, and Christie for winning this week's contest!</em></p> <p>When you shop for cars &mdash; or trucks, or motorcycles &mdash; odds are you have an idea of the kind of vehicle you want. And depending on the stage of life you're in, and the kind of lifestyle you lead, there will be certain functions and features that you'll be looking for.</p> <p><strong>What do you look for in a car?</strong> Do you prefer one carmaker over the rest? If you don't currently own a car (or truck, or motorcycle), what forms of transportation do you use instead?</p> <p>Tell us what you look for in a car and we'll enter you in a drawing to win a $20 Amazon Gift Card!</p> <h2>Win 1 of 3 $20 Amazon Gift Cards</h2> <p>We're doing three giveaways &mdash; here's how you can win:</p> <ul> <li>Follow us on Twitter</li> <li>Tweet about our giveaway for an entry.</li> <li>Visit our Facebook page for an entry.</li> </ul> <p>Use our Rafflecopter widget for your chance to win one of three Amazon Gift Cards:</p> <p><a class="rcptr" href="http://www.rafflecopter.com/rafl/display/79857dfa308/" rel="nofollow" data-raflid="79857dfa308" data-theme="classic" data-template="" id="rcwidget_kdoeetix">a Rafflecopter giveaway</a> </p> <script src="https://widget-prime.rafflecopter.com/launch.js"></script></p> <h4>Giveaway Rules:</h4> <ul> <li>Contest ends Monday, July 17th at 11:59 p.m. Pacific. Winners will be announced after July 17th on the original post. Winners will also be contacted via email.<br /> &nbsp;</li> <li>This promotion is in no way sponsored, endorsed or administered, or associated with Facebook or Twitter.<br /> &nbsp;</li> <li>You must be 18 and U.S. resident to enter. Void where prohibited.</li> </ul> <p><strong>Good Luck!</strong></p> <div class="field field-type-text field-field-blog-teaser"> <div class="field-items"> <div class="field-item odd"> Tell us what you look for in a car and we&#039;ll enter you in a drawing to win a $20 Amazon Gift Card! </div> </div> </div> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/ask-the-readers-what-do-you-look-for-in-a-car">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-ways-to-earn-extra-money-with-your-car">7 Ways to Earn Extra Money With Your Car</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-to-drop-collision-coverage-on-your-car">When to drop collision coverage on your car</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ask-the-readers-how-did-you-spend-your-first-paycheck">Ask the Readers: How Did You Spend Your First Paycheck?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-tell-if-a-car-service-plan-is-worth-it">How to Tell If a Car Service Plan Is Worth It</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ask-the-readers-should-kids-get-paid-for-doing-chores">Ask The Readers: Should Kids Get Paid For Doing Chores?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Giveaways Ask the Readers car Tue, 11 Jul 2017 08:30:07 +0000 Ashley Jacobs 1980306 at http://www.wisebread.com Should You Buy a Car With a Credit Card? http://www.wisebread.com/should-you-buy-a-car-with-a-credit-card <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/should-you-buy-a-car-with-a-credit-card" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/businesswoman_hold_credit_card_a_toy_car_and_a_stack.jpg" alt="Businesswoman hold credit card, a toy car and a stack" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>While most people rely on cash or bank financing to buy a car, it may be possible to make all or part of your vehicle purchase with a credit card instead. This might seem like a risky proposition, but there are real, tangible benefits that can come from using this payment method if you're careful.</p> <p>With the right credit card strategy, you could earn rewards for your car purchase, save money on interest, and potentially pay your car off faster. Obviously, there are also a lot of things that can go wrong with this strategy. If you can't afford a car and are looking at a credit card as your way to finance it because you have no other options, forget it. You'll end up worse off if you can't make payments on your credit card.</p> <p>Even if you can afford the car, you'll need to answer a few questions. Let's talk about whether charging it makes sense &mdash; and when it's possible.</p> <h2>Is it possible to buy a car with a credit card?</h2> <p>First, you need to determine whether the dealership or car lot you're buying from will allow it. There are instances when a car lot may let you&nbsp;pay for your entire car purchase with credit, but those situations are rare.</p> <p>More likely, if a dealership lets you pay with a credit card at all, it will cap the amount at, say, $5,000. The main reason dealerships hesitate to let you charge tens of thousands of dollars to your card is that, like other merchants, they pay interchange fees to accept credit cards. These fees are usually around 2 percent, sometimes higher. So, if you charge a $30,000 car, your dealership could be on the hook for at least $600 in processing costs.</p> <p>The other thing you need to note is your available balance. Obviously, you can't charge more than your credit limit, so you'll need to be aware of that limit.</p> <h2>Earning rewards with a car purchase</h2> <p>While there is more than one way charging your car to a credit card can leave you ahead, the most intriguing opportunity is the rewards you could earn. You can get <a href="http://www.wisebread.com/5-best-cash-back-credit-cards?ref=internal" target="_blank">cash back</a> or <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=internal" target="_blank">travel rewards</a>. You might even want to use a <a href="http://www.wisebread.com/capital-one-buypower-get-your-dream-gm-car?ref=internal" target="_blank">co-branded car credit card</a> (yes, they exist!). This can provide you a hefty discount when you are ready for your next car.</p> <p>Obviously, this strategy is only worth pursuing if you have the cash in the bank to pay your card off right away. While the cards with the most lucrative rewards programs help you earn &quot;free money&quot; on large purchases, the interest rates they offer tend to be higher than average. If you put $30,000 on a credit card that charges 15 percent and it took you five years to pay your loan off, you would fork over $12,822 in interest alone.</p> <h2>Saving interest on a car purchase with a 0% APR card</h2> <p>This leads to the second reason some people may choose to charge their car purchase &mdash; to save money on interest. While many rewards cards charge higher interest rates than most, an array of cards charge <a href="http://www.wisebread.com/5-best-credit-cards-with-0-apr-for-purchases?ref=internal" target="_blank">0% APR for new purchases</a> for 12&ndash;21 months.</p> <p>The key to making a 0% APR card work in this scenario is making sure you can pay the balance in full before your introductory offer ends. Once it's over your rate will reset to a regular credit card interest rate, which is almost certainly higher than the rate you'd get on a car loan.</p> <p>Before you pick a 0% APR card for your car purchase, make sure you can pay the balance in full before the introductory offer ends. That way, you can truly save money on interest &mdash; and not end up potentially paying more in interest than if you'd just gone with a loan.</p> <h2>Buying a car with a credit card</h2> <p>If you're dead set on charging your car to a credit card, it's important to think through several important scenarios first. Here are four tips that can help you get the most out of the situation.</p> <h3>1. Don't talk about payment until you've negotiated a price</h3> <p>While there's nothing wrong with using credit for a car, your car salesman may want to make up for their fees by charging you a higher sales price. That's why you should never reveal that you intend to pay with credit until you've negotiated the terms of the sale. By slow-rolling your credit card payment plan, you can get the best price possible while also gaining the benefits of using a card.</p> <h3>2. Make sure you're getting the best deal possible</h3> <p>As with any car purchase, you should research the cars you're interested in online before you ever step into a dealership. Websites like&nbsp;Kelley Blue Book&nbsp;can help you figure out exactly what a car is worth based on its make, model, and condition. If the dealership wants you to pay more than a car is truly worth, the rewards you're earning probably won't be worth it, especially if they decide to tack on a fee for using a credit card.</p> <h3>3. Do the math before you buy</h3> <p>While getting 0% APR on your car purchase can pay off, it's important to do the math if you don't think you'll pay off the entire purchase before the introductory offer ends. If you need several years to pay your car loan in full, for example, you will be better off with bank or dealership financing &mdash; even if the ongoing APR seems high.</p> <h3>4. Decide what you want &mdash; 0% APR&nbsp;or&nbsp;rewards</h3> <p>While a slew of popular credit cards offer rewards or 0% APR for a limited time, few cards offer the best of both. Before you charge your car to a credit card, make sure you have defined goals and a plan to reach them. And if you don't have the right credit card to meet your needs for this purchase, explore your card options and apply for a new card before you step into a dealership.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fshould-you-buy-a-car-with-a-credit-card&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FShould%2520You%2520Buy%2520a%2520Car%2520With%2520a%2520Credit%2520Card-.jpg&amp;description=Should%20You%20Buy%20a%20Car%20With%20a%20Credit%20Card%3F"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Should%20You%20Buy%20a%20Car%20With%20a%20Credit%20Card-.jpg" alt="Should You Buy a Car With a Credit Card?" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/holly-johnson">Holly Johnson</a> of <a href="http://www.wisebread.com/should-you-buy-a-car-with-a-credit-card">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-new-car-costs-the-dealer-is-hiding-from-you">10 New Car Costs the Dealer Is Hiding From You</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-times-you-can-score-a-great-deal-on-a-new-car">5 Times You Can Score a Great Deal on a New Car</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-magic-words-to-say-to-get-the-best-new-car-price">10 Magic Words to Say to Get the Best New Car Price</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-secrets-to-a-higher-car-trade-in-value">8 Secrets to a Higher Car Trade-In Value</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-buy-a-used-car-without-getting-ripped-off">How to Buy a Used Car Without Getting Ripped Off</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation APR dealerships fees financing interest rates negotiating new car rewards vehicles Wed, 05 Jul 2017 08:30:12 +0000 Holly Johnson 1974820 at http://www.wisebread.com Best Money Tips: Save Money on Your Next Car Rental http://www.wisebread.com/best-money-tips-save-money-on-your-next-car-rental <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-save-money-on-your-next-car-rental" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_new_car_153571311.jpg" alt="Woman saving money on her next car rental" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found articles on ways to save money on car rentals, home swimming pool safety tips, and money mistakes to avoid in your 20s.</p> <h2>Top 5 Articles</h2> <p><a href="http://shebudgets.com/lifestyle/travel/save-money-on-car-rentals/66393">How To Save Money on Car Rentals</a> &mdash; Bidding on a rental car through sites like Priceline can help you score a vehicle for as little as half the usual price. [SheBudgets[</p> <p><a href="https://blog.allstate.com/4-home-swimming-pool-safety-tips/">4 Home Swimming Pool Safety Tips</a> &mdash; Keep flotation devices and a pool hook near the pool in case someone or something needs rescuing. [The Allstate Blog]</p> <p><a href="http://www.mydollarplan.com/8-money-mistakes-to-avoid-in-your-20s/">8 Money Mistakes to Avoid in Your 20s</a> &mdash; Many 20-somethings overpay in rent &mdash; don't be one of them! [My Dollar Plan]</p> <p><a href="https://blog.cheapism.com/picnic-food-that-spoils-13923/">10 Fast-Spoiling Foods to Avoid</a> &mdash; Mayonnaise can sour quickly in warm weather. If you're have a side dish with this condiment, like potato salad, egg salad, or coleslaw, make sure it's stored in a cold place until eaten. [Cheapism]</p> <p><a href="https://www.smallfootprintfamily.com/eco-friendly-office">4 Powerful Ways To Be Eco-Friendly At The Office</a> &mdash; One easy way to be green at the office is to keep a recycling bin at your desk. [Small Footprint Family]</p> <h2>Other Essential Reading</h2> <p><a href="https://www.csmonitor.com/Environment/2017/0623/Excitement-for-solar-eclipse-builds-but-are-small-towns-in-prime-viewing-locations-ready-for-the-crowds">Excitement for solar eclipse builds, but are small towns in prime viewing locations ready for the crowds?</a> &mdash; Sleepy towns like Madras, Oregon are preparing for the unprecedented crowds that are coming to watch the first coast-to-coast total solar eclipse to cross the continental U.S. in 99 years. [The Christian Science Monitor]</p> <p><a href="https://www.popsugar.com/smart-living/International-Travel-Tips-43654181">12 Things You Need to Do Before Your First International Vacation</a> &mdash; If you don't speak the language of your destination, try to learn a few key phrases like &quot;Please,&quot; &quot;Thank you&quot;, and &quot;Do you speak English?&quot; [PopSugar Smart Living]</p> <p><a href="http://www.experian.com/blogs/news/about/first-time-home-buyers-tips/">Money-Smart Tips for First-Time Home Buyers</a> &mdash; Join Experian's #CreditChat tomorrow at 3 p.m. ET for a discussion on smart financial tips for first-time homebuyers. [Experian]</p> <p><a href="http://www.lehighvalleymomma.com/how-to-bring-out-your-childs-inner-athlete/">How To Bring Out Your Child&rsquo;s Inner Athlete</a> &mdash; Encourage your child to join an athletic club or Little League where they can play a sport that they love and meet other athletic children. [Lehigh Valley Momma]</p> <p><a href="https://www.dumblittleman.com/jobs-for-introverts/">5 Tips On How To Land The Best Jobs For Introverts</a> &mdash; Look for job opportunities that align with the levels of interaction that you're comfortable with. [Dumb Little Man]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amy-lu">Amy Lu</a> of <a href="http://www.wisebread.com/best-money-tips-save-money-on-your-next-car-rental">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-travel-in-style-for-free">How to Travel in Style...For Free</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/can-acetone-dramatically-increase-your-gas-mileage">Can Acetone Dramatically Increase Your Gas Mileage?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/17-things-car-salesmen-dont-want-you-to-know">17 Things Car Salesmen Don&#039;t Want You to Know</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/remove-car-dents-quickly-and-cheaply">Remove Car Dents Quickly and Cheaply</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-11-best-parking-apps-for-your-city">The 11 Best Parking Apps for Your City</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation best money tips car rental Tue, 27 Jun 2017 08:00:14 +0000 Amy Lu 1973129 at http://www.wisebread.com The High Cost of Buying a Boat http://www.wisebread.com/the-high-cost-of-buying-a-boat <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-high-cost-of-buying-a-boat" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_new_boat_529666414.jpg" alt="Man learning the high cost of buying a boat" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>&quot;It's like glass, honey,&quot; my dad would whisper to my mom. &quot;That water. Like glass.&quot;</p> <p>My mom and dad, both avid water skiers and all-around fun folks, got lots of worth out of the beat-up old ski boats my dad managed to buy. We spent summers on the lakes and rivers. In between camping and skiing, Dad did the boat repairs himself and cursed the cost of engine parts. Owning a boat is fun, but is it worth the time and cost of upkeep? Calculate the price in full before you buy.</p> <h2>The initial purchase cost</h2> <p>Buying a used boat is the most cost-effective way to become a boat owner. Purchasing a brand-new boat is like <a href="http://www.wisebread.com/3-reasons-why-you-should-never-buy-a-new-car?ref=internal" target="_blank">purchasing a brand-new car</a>; you'll pay a huge premium for that brand-new label, and it'll depreciate after you buy it. According to Boatshed's Market Report 2016, those sleek and speedy <a href="http://www.boatshed.com/market-report-2016-blog-32532.html" target="_blank">power boats depreciate the most</a>, but all new boats drop in value dramatically in the first three years of ownership.</p> <p>If you buy a used boat from a dealer, you may get a warranty of some kind. Or you may not. If a warranty is included, get specific information on what it covers.</p> <p>There are no guarantees when you buy from an individual. Ask to see a maintenance log and receipts for parts or repairs. Don't expect a guarantee on a boat's continued performance. Once you buy, that boat is yours to take care of, for better or for worse.</p> <h2>Boat repairs</h2> <p>If you're mechanically inclined, you can do some repairs and maintenance on the boat yourself. My dad spent his high school summers working at a marina; he handled basic stuff. If your boat needs major repairs, you'll need a pro.</p> <p>Expect to pay from $65 to $115 per hour for work by a certified marine mechanic. Replacement parts can be pricey, too. A new water pump, for example, can cost anywhere from $100 to over $1,000, depending on the size and style you need.</p> <p>Even if your boat is in great shape, mechanical failures are probable at some point. It's a machine, which makes wear and tear inevitable. Other common repairs needed on a boat include cracks in the deck, saturated foam (causing the boat to sit unevenly), rot, and joint separation. Cosmetic repairs, such as replacing upholstery or repainting the hull, can be delayed. But others, such as cracking or leaks, must be dealt with immediately. Otherwise, your boat will incur more damage, lowering its value and adding to repair costs.</p> <h2>Seasonal maintenance</h2> <p>Don't forget to factor in the cost of seasonal maintenance work when estimating a budget for boat ownership.</p> <h3>Engine winterization</h3> <p>For boats that will be stored for winter, or for any extended period of time, engine winterization is important to prevent damage. You can do the work yourself (use this <a href="http://www.boatus.com/boattech/casey/winterizing-your-engine.asp" target="_blank">helpful winterization checklist</a>) or pay a shop. Average cost depends on the size of your boat.</p> <h3>Hull cleaning</h3> <p>Larger boats that stay in the water need their hulls cleaned periodically. Hull cleaning prevents damage and increases fuel efficiency. Professional boat services either have divers go under and clean while the boat is in the water, or, if repainting is also needed, have the entire boat lifted out of the water to do the work. Rates vary widely based on location, size of the boat, and how long it's been since the last hull cleaning.</p> <h3>Cabin cleaning</h3> <p>You can do cabin cleaning yourself, or hire a professional to do the job. Regular cabin cleaning is important in order to find, repair, and prevent permanent damage, such as corrosion or rust.</p> <h2>Regular maintenance</h2> <p>Some other maintenance items include greasing the rudder box, checking belts and hoses, checking engine alignment, and replacing brake fluid.</p> <h2>Insurance, registration, and other fees</h2> <p>The cost of registration and licensing fees varies from <a href="http://www.americasboatingcourse.com/lawsbystate.cfm" target="_blank">state to state</a>. If you're going to travel between countries, you will need to get an International Certificate of Competence. Insurance is optional in most states, but you might want to have it anyway. You'll pay a boat sales and <a href="http://www.boatus.com/gov/states/default.asp" target="_blank">use tax in most states</a>, as well.</p> <p>You'll need to pay lock fees to use canals and move from one body of water to another. You may also be required to pay for port fees and customs at various points of entry.</p> <h2>Necessary boat gear</h2> <p>Life jackets are a requirement on any boat, under any circumstances. <a href="http://www.uscgboating.org/recreational-boaters/life-jacket-wear-wearing-your-life-jacket.php" target="_blank">U.S. Coast Guard regulations</a> require one life jacket for every person on board. Other gear you'll want depends on what you want to do on your boat: fishing poles, tackle and bait, or skis, ski ropes, and tubes. Of course, you need to stock essential safety and health supplies such as a <a href="http://www.wisebread.com/the-5-best-first-aid-kits">first aid kit</a>, sun protection, and drinking water.</p> <h2>Docking and storage</h2> <p>If you want to dock your boat in a protected place, and you don't own a spot yourself, you'll need to pay a slip fee. A slip fee is typically calculated per foot of boat: so, for a 30-foot boat, you might pay $3 to $5 per foot, per day, to dock your boat at a marina. Marinas often have weekly, monthly, and annual rates, as well. Expect to pay more for a covered and protected slip, and pay for additional services like trailer storage or use of a boat lift or boat cover.</p> <p>Our old ski boat lived in our backyard, covered in a tarp during winter. In the mild Mississippi winters, that was an acceptable storage solution. But in more extreme environments &mdash; or for boats with a slightly higher investment point &mdash; you'll want covered, protected storage from the elements. Maybe you have a place for your boat, such as an enclosed garage or barn. In that case, you'll save the cost of paying for storage. But you will need to have a way to get your boat from the water to your garage.</p> <h2>Trailer and transportation costs</h2> <p>If you don't own a boat trailer, you'll need to buy or rent one in order to move your boat from a body of water to any other location. Boat trailers need to be licensed and registered, and you'll pay personal property taxes on a trailer as well as on the boat. Fees vary from state to state.</p> <p>Renting a boat trailer can be a better solution if you don't need to move your boat often. Trailer rentals run from about $50 a day (for a 20-foot trailer) to around $150 per day (for a triple axle trailer that can haul up to a 33-foot boat). Bigger boats, of course, require a bigger trailer and a vehicle that is powerful enough to tow it.</p> <p>Whether your boating dream is a yacht or a fishing boat, consider the costs carefully before you invest. It's one thing to relax on a boat. It's quite another to pay for it.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthe-high-cost-of-buying-a-boat&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThe%2520High%2520Cost%2520of%2520Buying%2520a%2520Boat.jpg&amp;description=The%20High%20Cost%20of%20Buying%20a%20Boat"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/The%20High%20Cost%20of%20Buying%20a%20Boat.jpg" alt="The High Cost of Buying a Boat" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/annie-mueller">Annie Mueller</a> of <a href="http://www.wisebread.com/the-high-cost-of-buying-a-boat">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-investing-lessons-you-must-teach-your-kids">10 Investing Lessons You Must Teach Your Kids</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-unexpected-costs-of-political-activism">5 Unexpected Costs of Political Activism</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/alternatives-to-drunk-driving">Alternatives to drunk driving</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/hostels-vs-hotels-choosing-the-perfect-place-to-stay-within-your-budget">Hostels vs Hotels: Choosing the Perfect Place to Stay Within your Budget</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-travel-in-style-for-free">How to Travel in Style...For Free</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Lifestyle boat boat maintenance buying a boat high cost investment money pit money suck Mon, 26 Jun 2017 08:30:18 +0000 Annie Mueller 1971791 at http://www.wisebread.com Here's How the Right RV and Vehicle Insurance Protects Your Summer Fun http://www.wisebread.com/heres-how-the-right-rv-and-vehicle-insurance-protects-your-summer-fun <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/heres-how-the-right-rv-and-vehicle-insurance-protects-your-summer-fun" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/couple_riding_jet_boat.jpg" alt="Couple Riding Jet Boat" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Summer can be a great time to get the big toys out of the garage. Jet Skis, off-road vehicles, RVs, and other expensive forms of transportation can make a summer trip more enjoyable.</p> <p>Those toys also need insurance to fix or replace them if they're damaged or destroyed in an accident. Here's what you need to know to keep all your forms of transportation protected this summer.</p> <h2>RV insurance</h2> <p>Most owners of recreational vehicles, or RVs, only use their vehicles for a few months a year and may be able to get their existing auto and home insurance policies extended to their RV for those few months a year. But if you live in one full-time or rent an RV, you'll want separate RV insurance. A bank may also require you to have it if you're financing the purchase of the vehicle.</p> <p>Insurance for an RV isn't as straightforward as auto insurance. Because an RV is essentially a house on wheels, it requires a mix of travel, auto, and home insurance. Your existing auto insurance policy may cover some insurance needs for an RV, but because of the high value of an RV, specific RV insurance will also likely be needed.</p> <p>An RV insurance policy can provide personal property coverage, which will cover your RV when it's parked at your home and when it's out on the road. Your home or auto insurance policies may cover <em>some </em>things stolen from an RV, but only up to certain limits or on specific items. Expensive camping equipment and a flat-screen TV inside an RV, for example, will likely require extra personal property coverage in an RV insurance policy.</p> <p>If an entire RV is stolen or damaged in an accident, you'll want full replacement cost coverage. It's offered only for newer RVs, while the actual cash value, or depreciated value, is available for older vehicles. Full replacement coverage can be worth having if you just bought a new RV and don't have the money in the bank to pay for repairs. Without it, the depreciated value may only be covered, and new vehicles depreciate quickly in the first year.</p> <p>Laws in your state may require a minimum amount of liability insurance, and some also require uninsured and underinsured motorists coverage. You can set the collision and comprehensive insurance limits.</p> <p>RV insurance averages $550 per year for a motor home and $250 for a trailer that doesn't have a motor. This low cost is partly due to the fact that RV owners are usually more experienced drivers. Age, driving record, and credit score also affect rates.</p> <p>RV insurance rates will also be affected by how often you drive the vehicle, the type of RV you have, how old it is, where it's stored, and if you use it as a primary home.</p> <h2>Personal watercraft insurance</h2> <p>Personal watercraft insurance, or PWC insurance, is for a Jet Ski or other watercraft that's part boat and part motorcycle. It protects against accidents, vandalism, and liability, regardless if you use the vehicle yourself or loan it to someone else. PWC insurance can be bought as a separate policy or can be added to an existing boat policy.</p> <p>PWC insurance can cover you in many instances. For example, you may crash into a dock or another boat, causing death or injury. PWC insurance can include bodily injury liability to pay the medical bills of someone you injure in an accident. It can also include property damage liability coverage in case you damage someone else's property. Or, if you let someone else use your personal watercraft and they're negligent &mdash; such as by towing water skiers or wakeboarders, or getting too close to other watercraft &mdash; PWC insurance could help.</p> <p>Areas that typically aren't covered include a craft that's been modified to improve speed or performance, after dark usage, and operating a PWC without a valid driver's license.</p> <p>Depending on the type of watercraft, coverage options, deductibles, and your driving record, PWC insurance costs $300 to $500 per year.</p> <h2>ATV insurance</h2> <p>A standard homeowners insurance policy doesn't normally cover off-road vehicles such as an ATV, golf cart, dune buggy, or dirt bike. It will cover your off-road vehicles when they're on your property &mdash; but once the vehicle leaves your property, you're probably no longer covered by a homeowners policy.</p> <p>ATV insurance can protect the vehicle and owner against liability, collision, and other things. For example, collision coverage can cover the cost of replacing a fence you've hit, and then can pay to repair your vehicle.</p> <p>Like extra coverage for watercraft, there are two types of liability insurance you may want for ATVs &mdash; bodily injury liability and property damage liability.</p> <p>Comprehensive coverage pays for damage to your ATV during a severe storm or other natural disaster, or if it's stolen.</p> <p>Annual premiums for ATV insurance range from $99 for bodily injury and property damage coverage to $1,500 for every type of coverage.</p> <h2>Yes, your toys need insurance</h2> <p>However much money you've spent on your summer toys, factor in</p> <p>their cost and how much liability you're willing to expose yourself to if you cause an accident. Chances are they weren't cheap, and they can cause just as much damage as an accident in a car.</p> <p>That's what insurance is for &mdash; to cover catastrophic expenses you can't cover on your own. Even during the joys of summer that's something worth remembering.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fheres-how-the-right-rv-and-vehicle-insurance-protects-your-summer-fun&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHere%2527s%2520How%2520the%2520Right%2520RV%2520and%2520Vehicle%2520Insurance%2520Protects%2520Your%2520Summer%2520Fun.jpg&amp;description=Here's%20How%20the%20Right%20RV%20and%20Vehicle%20Insurance%20Protects%20Your%20Summer%20Fun"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Here%27s%20How%20the%20Right%20RV%20and%20Vehicle%20Insurance%20Protects%20Your%20Summer%20Fun.jpg" alt="Here's How the Right RV and Vehicle Insurance Protects Your Summer Fun" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/aaron-crowe">Aaron Crowe</a> of <a href="http://www.wisebread.com/heres-how-the-right-rv-and-vehicle-insurance-protects-your-summer-fun">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-times-when-its-okay-to-drop-insurance">6 Times When It&#039;s Okay to Drop Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-things-you-should-know-about-rental-car-insurance">3 Things You Should Know About Rental Car Insurance</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-reasons-you-should-buy-the-rental-car-insurance">6 Reasons You Should Buy the Rental Car Insurance</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-to-drop-collision-coverage-on-your-car">When to drop collision coverage on your car</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-easiest-ways-to-save-on-your-next-rv-camping-trip">The Easiest Ways to Save on Your Next RV Camping Trip</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Insurance atvs collision coverage jet skis liability off road vehicles policies recreational vehicles rvs summer watercraft Tue, 20 Jun 2017 08:30:17 +0000 Aaron Crowe 1966174 at http://www.wisebread.com 3 Things You Should Know About Rental Car Insurance http://www.wisebread.com/3-things-you-should-know-about-rental-car-insurance <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/3-things-you-should-know-about-rental-car-insurance" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/enjoying_a_trip_together.jpg" alt="Enjoying a trip together" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>After a long day of traveling, being forced to listen to an upsell for extra insurance at the car rental counter can be frustrating.</p> <p>Some extra rental car insurance may be worthwhile, however. Your own personal car insurance policy may not cover rentals, for example, or maybe you don't have car insurance at all.</p> <p>On the other hand, you may not want to buy insurance from a rental company if it duplicates what your credit card offers, or if your auto insurer already provides rental car coverage through your regular policy.</p> <p>Here are some things to be aware of before a car rental agent tries to pressure you at the rental desk.</p> <h2>Know what is and isn't covered by rental car insurance</h2> <p>There are two types of damage waivers that are commonly sold by rental car companies: Collision Damage Waiver (CDW) and Loss Damage Waiver (LDW). They're often packaged together as CDW/LDW coverage.</p> <p>They serve the same basic function. These waivers aren't necessarily insurance so much as an optional service where the rental car company will cover you if an accident or some other event damages your rental car, or in the case of theft. The waiver only covers the rental car and waives the rental company's right to pursue you, the renter, for damage.</p> <p>What a rental damage waiver won't cover are hospitalization costs if you cause an accident and someone is injured &mdash; that falls under liability coverage. The rental damage waiver also won't cover risky behaviors such as drinking and driving or speeding. If <em>you're</em> hospitalized, your auto insurance policy will take effect.</p> <p>Another type of insurance that you may be offered at the rental counter is supplemental liability insurance. This covers damage to other people's property, such as their cars, and their medical costs if you caused the accident.</p> <p>This extra liability insurance may be worthwhile if your auto or homeowners insurance policies won't cover you. Another option is to buy umbrella liability insurance through the company that provides your auto or homeowners liability insurance, so that you have extra protection while driving a rental car.</p> <h2>When you should consider buying</h2> <p>If you have collision and comprehensive coverage on your personal auto policy, it will typically cover damages to a rental car. However, you will still need to pay your deductible in the event of a claim &mdash; and of course, filing a claim can cause your personal auto insurance rates to spike. Rental damage waivers will typically cover all of the vehicle repair costs, including a deductible. If you don't want to deal with the hassle of paying a high deductible, or filing a claim, you can consider purchasing the CDW/LDW coverage.</p> <p>You may also be renting a vehicle with a far higher market value than the car you own. Your insurer will only pay the value of <em>your</em> car &mdash; not the value of the rental car that's damaged. So if your car isn't worth as much as the rental car, then you may want to consider additional coverage to account for the gap between the value of your personal car and the value of the rental car.</p> <p>If you have <em>no </em>auto insurance, or a personal auto policy with bare minimum liability coverage, you may also want to consider adding supplemental liability protection through the rental company. This will protect you in the event you damage someone else's vehicle or property, or cause injury.</p> <h2>Don't overlook your credit card benefits</h2> <p>When renting a car with a credit card, you're likely to get insurance protections that you may not even realize you have. (See also: <a href="http://www.wisebread.com/what-does-car-rental-insurance-really-cover-on-your-credit-card?ref=seealso" target="_blank">What Does Car Rental Insurance Really Cover On Your Credit Card?</a>)</p> <p>Many credit cards provide free collision damage protection for rental cars, with some caveats. First, you must pay for the rental in full with the card, and then decline all optional coverage offered by the rental company.</p> <p>Coverage can vary, but typically a credit card's coverage will be secondary &mdash; meaning it only pays what you can't recover from other insurance. Sometimes cards do offer primary insurance, which would prevent you from having to file a claim with your personal auto policy. You may have to pay upfront for the full damage and get reimbursed later by the credit card company, and coverage is often limited to a two-week rental.</p> <p>Call your card issuer to find out the specifics of what your credit card offers. If you have multiple credit cards, it's worth comparing them to find out which one offers the best coverage on rentals.</p> <p>Credit card rental coverage typically excludes injuries, as well as damage or loss of personal items. Many cards also won't cover any of the rental car company's administrative fees, &quot;loss of use&quot; charges, or the difference between the rental car's actual value and its replacement value.</p> <h2>The bottom line</h2> <p>However you buy rental car insurance, know that you could be on the hook for the costs of an incident until your insurance provider or credit card company comes to an agreement on the cost of repairs with the rental car company.</p> <p>Before driving your rental car off the lot, check it carefully for existing damage and document anything you find with photos. Then, tell the clerk at the rental counter. You don't want to end up paying for damage you didn't cause or fighting with a rental car company. That certainly won't make for a pleasant vacation.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/aaron-crowe">Aaron Crowe</a> of <a href="http://www.wisebread.com/3-things-you-should-know-about-rental-car-insurance">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-9"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-reasons-you-should-buy-the-rental-car-insurance">6 Reasons You Should Buy the Rental Car Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-the-right-rv-and-vehicle-insurance-protects-your-summer-fun">Here&#039;s How the Right RV and Vehicle Insurance Protects Your Summer Fun</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-reasons-you-definitely-need-renters-insurance">5 Reasons You Definitely Need Renters&#039; Insurance</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-a-claim-will-impact-your-car-insurance">Here&#039;s How a Claim Will Impact Your Car Insurance</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-times-you-shouldnt-file-an-insurance-claim">7 Times You Shouldn&#039;t File an Insurance Claim</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Insurance accidents auto policies damage waivers deductibles liability protections rentals cars theft travel vacation vehicles Tue, 06 Jun 2017 08:30:16 +0000 Aaron Crowe 1957905 at http://www.wisebread.com Best Money Tips: Legit Ways to Get Free Gas http://www.wisebread.com/best-money-tips-legit-ways-to-get-free-gas <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-legit-ways-to-get-free-gas" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_getting_gas_516732749.jpg" alt="Man finding legit ways to get free gas" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found articles on legit ways to get free gas, decorating hacks for renters, and cheap DIY solutions for summer skin care.</p> <h2>Top 5 Articles</h2> <p><a href="http://wellkeptwallet.com/legit-ways-to-get-free-gas/">8 Legit Ways to Get Free Gas</a> &mdash; National retailers like CVS occasionally offer free gas cards with qualifying purchases. [Well Kept Wallet]</p> <p><a href="http://smartycents.com/articles/decorating-hacks-for-renters/">15 Decorating Hacks for Renters (That Won&rsquo;t Cost You Your Security Deposit)</a> &mdash; Use a vinyl floor cloth to cover outdated flooring. [Smarty Cents]</p> <p><a href="https://blog.cheapism.com/diy-summer-skin-care-tips/">11 DIY Solutions for Summer Skin Care on the Cheap</a> &mdash; Does the summer heat leave you with an oily and shiny face? Use coffee filters instead of pricey oil-blotting sheets. [Cheapism]</p> <p><a href="https://www.popsugar.com/smart-living/Things-Unhappy-People-Do-34705687">19 Things Unhappy People Do</a> &mdash; Unhappy people tend to back down when things get too hard, causing them to feel defeated. [PopSugar Smart Living]</p> <p><a href="https://adebtfreestressfreelife.com/creating-daily-cleaning-habits/">Creating Daily Cleaning Habits That Transform Your Home</a> &mdash; Get into the habit of wiping down surfaces after every use. [A Debt Free Mess Free Life]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.thefinancialblogger.com/10-most-common-hidden-costs-and-fees-at-banks/">10 Most Common Hidden Costs and Fees at Banks</a> &mdash; If you have a &quot;virtual only&quot; account, your bank may charge a human teller fee for transactions made in person with a teller. [The Financial Blogger]</p> <p><a href="http://www.csmonitor.com/Environment/2017/0525/A-glimmer-of-hope-for-honeybee-populations">A glimmer of hope for honeybee populations</a> &mdash; Winter losses among US honeybees were the lowest in more than a decade! [The Christian Science Monitor]</p> <p><a href="http://www.kiplinger.com/article/spending/T050-C032-S014-top-3-ways-to-cut-back-on-impulse-buying.html">Top 3 Ways to Cut Back on Impulse Buying</a> &mdash; Instead of looking at the dollar price, think about how many hours you had to work to earn what you would spend on the impulse purchase. [Kiplinger]</p> <p><a href="http://www.beatingbroke.com/top-money-saving-tips-home-essentials/">Top Money Saving Tips for Home Essentials</a> &mdash; Give yourself plenty of time to save for a large purchase. Don't wait until it breaks to search desperately for sales and deals. [Beating Broke]</p> <p><a href="http://moneyqanda.com/how-to-save-money-on-your-vacation/">How to Save Money on Vacation with These Easy Tips</a> &mdash; Be open to trying food from street vendors. You'll get a taste of local cuisine without spending as much as you would at a restaurant. [Money Q&amp;A]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amy-lu">Amy Lu</a> of <a href="http://www.wisebread.com/best-money-tips-legit-ways-to-get-free-gas">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/can-acetone-dramatically-increase-your-gas-mileage">Can Acetone Dramatically Increase Your Gas Mileage?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/17-things-car-salesmen-dont-want-you-to-know">17 Things Car Salesmen Don&#039;t Want You to Know</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/remove-car-dents-quickly-and-cheaply">Remove Car Dents Quickly and Cheaply</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-11-best-parking-apps-for-your-city">The 11 Best Parking Apps for Your City</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-6-best-ways-to-sell-your-car">The 6 Best Ways to Sell Your Car</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation best money tips free gas Wed, 31 May 2017 08:30:15 +0000 Amy Lu 1957455 at http://www.wisebread.com How Long Does It Take to Break Even With an Electric Car http://www.wisebread.com/how-long-does-it-take-break-even-with-an-electric-car <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-long-does-it-take-break-even-with-an-electric-car" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-508101460.jpg" alt="Learning how long it takes to break even with an electric car" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Electric cars come at a premium. You can still get a hefty tax rebate for buying an all-electric or plug-in hybrid vehicle, but even after deducting that $3,700 &mdash;$7,500 rebate from the price, you're still going to pay more up front for electric than a gas-powered engine.</p> <p>You'll make up for it in gas savings, right? Maybe &mdash; but with low gas prices persisting, the payback may take a long time. Here's a look at the math behind the theory that an electric car will pay for itself.</p> <h2>Upfront cost</h2> <p>My husband and I recently test drove a Kia Soul EV. It was peppy and felt surprisingly roomy for a small car. It costs about $34,000, while the Soul without an electric motor costs only $20,000. So even after deducting the $7,500 tax credit, you'd still be paying $6,500 more to go electric. (Your state might offer additional credit, but I'll leave that out of this calculation.)</p> <p>Another upfront expense, which I didn't think about until I looked at EVs, is the cost of buying a home charging station and having it installed in the garage. That would be about $1,200. However, you might be able to apply for a local rebate or credit to defray that cost as well.</p> <p><strong>The difference in upfront cost</strong>: Buying and getting set up with the Kia Soul EV costs about $7,700 more than the nonelectric.</p> <h2>Fuel costs</h2> <p>Nationwide, at the time of writing, the average gallon of gasoline costs $2.41. If you live in California or in a big city like I do, you may be paying closer to $3. If I bought a traditional Kia Soul, I'd get about 28 miles per gallon &mdash; so driving a typical 15,000 miles a year, I'd be buying about 535 gallons of gas. In most parts of America, that would run about $1,300 for a year's worth of fuel.</p> <p>With the electric car, I could drive about <a href="https://www.fueleconomy.gov/feg/Find.do?action=sbs&amp;id=35601" target="_blank">105 miles on 33.7 kilowatt-hours</a>, which at a cost of 12 cents per kWh, means I could drive 15,000 miles a year for $578 in electricity. You can save even more on charging if you work somewhere with a free charging station, or if you have access to free public chargers.</p> <p><strong>The difference in fuel costs</strong>: Electric costs $722 less per year at current gas prices.</p> <h2>Maintenance</h2> <p>Because they don't require oil changes, all-electric vehicles cost less than regular cars to maintain &mdash; about 35 percent less, according to one estimate I found. According to Repair Pal, the average cost to maintain and repair a regular Kia Soul is $446 a year, while the EV is $267.</p> <p><strong>The difference in maintenance cost</strong>: Electric costs $179 less per year.</p> <h2>Other expenses</h2> <p>You might wring a few more dollars out of your EV from insurance company discounts and free public parking. You may also save on tolls if your area allows you to drive your EV in the carpool lane.</p> <h2>Breaking even</h2> <p>So, you started out life with your new EV $7,700 in the hole after buying the car, installing a charging station, and pocketing the federal tax credit. You will save about $900 a year in fuel and maintenance costs. At this rate, it will take you eight to nine years to break even. That's a pretty long time to recoup an investment.</p> <h2>Other benefits of going electric</h2> <p>However, there are non-monetary benefits to owning an electric vehicle that make the purchase worthwhile for many people.</p> <p>First, there is the knowledge that you're contributing less to climate change and air pollution by using electricity instead of gasoline. While EVs produce no tailpipe emissions, the power plants that fuel them do produce emissions. Still, the Department of Energy estimates that EVs are responsible for less than half the emissions of gas vehicles. That's big.</p> <p>Second, your EV may entitle you to privileges such as driving in the carpool lane. In the high traffic Bay Area where I live, many EV owners made their purchase decision based on carpool lane access alone, because it can make the difference between a two-hour commute and a one-hour commute into Silicon Valley.</p> <p>If you're buying an EV for the perks, check all the details before you sign the contract to make sure you're really getting everything you want. Sometimes states have restrictions, such as quotas for carpool lane stickers and income caps for tax rebates.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-kirby">Carrie Kirby</a> of <a href="http://www.wisebread.com/how-long-does-it-take-break-even-with-an-electric-car">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-10"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-drive-a-hybrid-or-electric-car-on-the-cheap">6 Ways to Drive a Hybrid or Electric Car on the Cheap</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/is-it-still-smart-to-buy-an-electric-car-while-gas-prices-are-low">Is It Still Smart to Buy an Electric Car While Gas Prices Are Low?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-easy-diy-car-repairs-to-save-big">8 Easy DIY Car Repairs to Save Big</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/to-change-the-bulb-just-remove-the-bumper-wait-what">To change the bulb, just remove the bumper. Wait, what? - UPDATED.</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/should-your-next-car-be-electric">Should Your Next Car Be Electric?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation break-even carpool comparisons electric cars fuel costs gas prices hybrids maintenance rebates repairs Mon, 22 May 2017 08:30:16 +0000 Carrie Kirby 1947501 at http://www.wisebread.com The 5 Best Folding Bicycles http://www.wisebread.com/the-5-best-folding-bicycles <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-5-best-folding-bicycles" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_folding_bicycle_484743019.jpg" alt="Man using best folding bicycle on his commute" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Most people simply don&rsquo;t have enough space to store a bike. Fortunately, a folding bike can get you where you need to go without taking up much space. This makes them particularly ideal for apartment dwellers, commuters who want to bring their bike on public transit, or anyone who just can&rsquo;t devote the storage space for a bike.</p> <p>Whether you want to take up riding or want to pursue new affordable transportation options, a folding bike can provide just what you need, without sacrificing much. Some folding bicycles even work for long distances thanks to the small, strong wheels, but they normally aren&rsquo;t as fast or as stable as a traditional full-size bike.</p> <h2>What Is a Folding Bicycle?</h2> <p>A folding bicycle is a bicycle designed to conveniently fold into a compact size when it&rsquo;s not in use. This makes it easy to transport and store. They can fold up so small that you can store them in your apartment, office, or even the trunk of your car. The best part about having your compact bike with you at all times is you never have to lock it up or worry about theft.</p> <p>Folding bikes come in a wide range of sizes, colors, and options. When you&rsquo;re shopping for one, you&rsquo;ll want to find something lightweight and durable that can be folded up small, in no time flat.</p> <h2>Top 5 Folding Bicycles</h2> <h3>Dahon Mariner D7 Folding Bike</h3> <p><a href="http://amzn.to/2oKLvQY"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/dahon.jpg" width="245" height="168" align="right" alt="" /></a>The <a href="http://amzn.to/2oKLvQY" target="_blank">Dahon Mariner D7 Folding Bike</a> is designed for boaters and anyone who likes to take their bike to the beach. The durable bike is built to withstand the elements and the rust-resistant coating and chain can withstand salty air, making it ideal for boat storage. The low-profile design features a brushed aluminum frame, 20-inch wheels, seven different speeds, a high seat, and adjustable handlebars for optimal riding comfort. The flexible riding system also allows you to adjust your ride position to suit different road conditions. It also features a Dahon Neos rear derailleur for smooth, quick shifting. It conveniently folds up in less than 15 seconds and easily unfolds in seconds. It is light enough to carry on public transport and small enough to store in your apartment or boat hold.</p> <p>Consumer Search deemed this the best folding bike and it is recommended by Heavy.com. The <a href="http://amzn.to/2qgbocs" target="_blank">Dahon Vitesse i7 7-Speed Folding Bicycle</a> is another highly rated option.</p> <p><a href="http://amzn.to/2oKLvQY" target="_blank"><em>Currently $579.00 on Amazon</em></a></p> <h3>Schwinn Folding Bike</h3> <p><a href="http://amzn.to/2qgl4nF"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/schwinn_0.jpg" width="245" height="177" align="right" alt="" /></a>The <a href="http://amzn.to/2qgl4nF" target="_blank">Schwinn 20-Inch Loop Folding Bike</a> folds up small in just 15 seconds for easy transport and storage. The step-through design features a low standover frame and rigid fork, which makes it easier to mount and dismount. It features 20-inch wheels, mounts for a water bottle and rear rack, and alloy linear pull brakes for a smooth ride. The seven-speed functionality with shifters can also help you get up hills easily. It also has a stay clean pant guard and front and rear fenders to keep dirt off your clothes.</p> <p>Reviewers agree that this can provide a stable, comfortable ride. It comes in various colors and includes a heavy nylon storage bag. It is recommended by Consumer Search, comes from the trusted Schwinn brand, and is backed by a lifetime warranty.</p> <p><a href="http://amzn.to/2qgl4nF" target="_blank"><em>Currently $215.99 on Amazon</em></a></p> <h3>Vilano Urbana Folding Bike</h3> <p><a href="http://amzn.to/2qgFcWI"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/vilano.jpg" width="245" height="175" align="right" alt="" /></a>The compact <a href="http://amzn.to/2qgFcWI" target="_blank">Vilano Urbana Single Speed Folding Bike</a> quickly and easily folds away for storage. The minimalist bike is super lightweight at only 21.5 lbs. It is ideal for urban commuting in flat areas and has mounts for a water bottle and a rear rack. The stylish single speed aluminum bike features a coaster brake, 20-inch wheels, and a comfortable saddle.</p> <p>This is available in a range of colors. It is recommended by Consumer Search, is an Amazon best-seller, and is one of the &ldquo;Most Wished For&rdquo; items on Amazon.</p> <p><a href="http://amzn.to/2qgFcWI" target="_blank"><em>Currently $175.04 on Amazon</em></a></p> <h3>GTM Foldable Bicycle Folding Bike Shimano Hybrid</h3> <p><a href="http://amzn.to/2pnxzAp"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/gtm.jpg" width="245" height="187" align="right" alt="" /></a>The <a href="http://amzn.to/2pnxzAp" target="_blank">GTM 20-inch Foldable Bicycle Folding Bike Shimano Hybrid</a> has six speeds and a rear derailleur to improve your ride in any traffic condition. The 20-inch folding frame conveniently folds up in steps for easy storage. The six-speed bike features adjustable handlebars, an adjustable seat, a heavy-duty kickstand, and linear pull brakes for comfortable riding. This is available in various different colors. It is an Amazon best-seller and one of the &ldquo;Most Wished For&rdquo; items on Amazon.</p> <p><a href="http://amzn.to/2pnxzAp" target="_blank"><em>Currently $108.90 on Amazon</em></a></p> <h3>Stowabike Folding City V2 Compact Foldable Bike</h3> <p><a href="http://amzn.to/2q9uFQw"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/stowabike.jpg" width="245" height="173" align="right" alt="" /></a>The <a href="http://amzn.to/2q9uFQw" target="_blank">Stowabike 20-inch Folding City V2 Compact Foldable Bike</a> is ideal for urban commuting. The compact 20-inch steel folding frame can be easily folded and stored. It features 20-inch tires, built-in steel mud guards to keep you clean, and a built-in rack for carrying your goods. The six-speed Shimano Gear System and rubber grips also offer smooth riding. This is an Amazon best-seller and has outstanding online reviews.</p> <p><a href="http://amzn.to/2q9uFQw" target="_blank"><em>Currently $129.99 on Amazon</em></a></p> <p>And those are our recommendations for the best folding bicycles. As always, be sure to check <a href="http://www.wisebread.com/buying-calendar">Wise Bread's Buying Calendar</a> to learn when and how to buy just about anything!</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/andrea-cannon">Andrea Cannon</a> of <a href="http://www.wisebread.com/the-5-best-folding-bicycles">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-11"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-electric-bicycles">The 5 Best Electric Bicycles</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-bicycle-lights">The 5 Best Bicycle Lights</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-luxury-pens">The 5 Best Luxury Pens</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-beach-umbrellas">The 5 Best Beach Umbrellas</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-eye-masks">The 5 Best Eye Masks</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Lifestyle Shopping 5 best bicycles bikes folding bicycles product reviews shopping transportation Thu, 27 Apr 2017 08:00:10 +0000 Andrea Cannon 1935492 at http://www.wisebread.com Could You Put Away a Million Dollars by Driving a Used Car? http://www.wisebread.com/could-you-put-away-a-million-dollars-by-driving-a-used-car <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/could-you-put-away-a-million-dollars-by-driving-a-used-car" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-508297588.jpg" alt="Woman learning if she can save a million dollars with a used car" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>When you buy a new car, there are several financial factors working against you. First, the asset you are buying &mdash; the car &mdash; depreciates rapidly. As soon as you drive it off the lot, it is worth thousands less than what you paid. In about four years, a new car will typically be worth <em>half </em>its original value.</p> <p>Secondly, when you make car payments, you are paying interest. So not only are you putting money into an asset that is certain to depreciate, you are borrowing money and paying compound interest as well.</p> <p>Finally, there is the opportunity cost of buying a new car. This is a factor many people forget about. Put simply, opportunity cost is what you give up by choosing one investment or purchase over another. Instead of spending money on a depreciating asset, you could invest the money instead where it would likely grow. Over a lifetime, this could add up to a significant amount of money. Opportunity cost is a key tool in business, and has many uses in daily life, too. Fortunately, the math is simple: Opportunity cost = return of most lucrative option - return of chosen option.</p> <p>As you can see, buying a new car doesn't make much sense when you look at it from a financial perspective. But could you come out $1 million dollars ahead driving used instead of buying new?</p> <h2>New car versus used car scenarios</h2> <p>In many parts of the United States, it's impossible to get to your job or other places you need to go without a car. I'm not suggesting you have to completely give up automobiles. But there is a big difference between always buying a brand-new car, and buying used. And when you consider that you could be investing that price differential in a growing stock market, the argument for used cars becomes hard to ignore.</p> <p>I'll run through some scenarios to analyze the opportunity cost of making new car payments, considering how much you could end up with if you choose to invest the money instead where it could grow rather than depreciate.</p> <p>For the opportunity cost, the analysis assumes that over the long term you could realize an 8 percent rate of return from stock market investments. Of course, no one knows how the stock market will perform in the future, but an 8 percent rate of growth is often used as a long-term average that includes both boom and bust cycles. The goal of this analysis is to provide a general idea of the potential magnitude of making car payments instead of investing the money.</p> <p>The scenarios for buying new cars versus driving used cars will run for 40 years to represent a lifetime of car buying behavior. Note that the effect of inflation on the price of the car or on potential investment value is not included in the analysis. Now, let's find out how much you could save by driving a used car.</p> <h3>Scenario 1: That new car smell!</h3> <p>First, let's look at a scenario where you always drive a new car. We'll assume you buy a brand-new car for $35,000 every four years with a 48-month financing plan that charges 0.9 percent interest. You make payments for four years, and then trade it in for its depreciated value (we'll use $17,000), and the trade-in value is applied toward the purchase of your next new $35,000 car. In this scenario, you are always making payments on a new car.</p> <p>Using the <a href="https://www.calcxml.com/calculators/car-calculator?skn=#results" target="_blank">Calc XML car loan calculator</a>, we find that the monthly car payment for the first four years is $743, then it's $382/month for the following 36 years when we're able to take advantage of the $17,000 trade in every four years. Adding up those payments we get (743 x 48) + (382 x 432) = $35,664 + $165,024 = $200,668.</p> <p>Now, let's calculate the opportunity cost of making those new car payments for 40 years. We'll use an <a href="http://www.calcxml.com/calculators/interest-calculator" target="_blank">investment calculator from CalcXML</a>. Assuming annual compounding, with a start amount of $0, an annual interest rate of 8 percent, and an annual deposit of $8,916 (those monthly $743 car payments x 12), we get a future value of $43,391. That's the amount we could have made if we'd foregone our first four years of new car payments and instead invested that money in the stock market.</p> <p>After those first four years, the amount of our car payments, and thus the opportunity cost of investing them, will be lower ($382 per month, or $4,584 per year) because we'll be getting a $17,000 trade-in for our old car. We'll start with investing the $43,391 we earned in the first four years, and after 36 years of such contributions, we end up with a balance of $1,619,165. This amount represents the opportunity cost of making new car payments for 40 years. That's how much we're losing out on stock market gains by burning our money up on new car payments!</p> <p>Results over 40 years:</p> <ul> <li>Total cost of car payments: $200,668</li> <li>Total return: $0</li> <li>Total invested (if we skipped the car altogether): $200,668</li> <li>Total returned: $1,619,165</li> <li>Opportunity cost: $1,619,165 - $0 = $1,619,165.</li> </ul> <p>If you invested instead of making car payments, the opportunity cost of always driving a new car is: $1,619,165.</p> <h3>Scenario 2: Drive it till it drops!</h3> <p>Next, let's consider the other extreme. In this scenario, you never make car loan payments. Let's assume you take a frugal approach to buying older used cars, and budget only $600 per year for purchasing the next car. With this budget, you could afford to buy a $6,000 used car every 10 years to meet your transportation needs &mdash; with no finance charges involved. Also, a budget of $100 per month for maintenance and repairs is included in the analysis, since you will always be driving an older car in this scenario. As I mentioned, this is a frugal scenario. You'll need to save up your $150 per month total car budget until you have enough to pay cash for a used car.</p> <p>Again, to calculate the opportunity cost, we'll consider investing $1,800 a year ($600/year + $100 maintenance fees x 12 months) for 40 years with interest compounded annually.</p> <p>Results over 40 years:</p> <ul> <ul> <li>Total cost of car expenses: $72,000<br /> &nbsp;</li> <li>If you invested your car expenses instead, the opportunity cost of driving a cheap used car is: $503,607<br /> &nbsp;</li> <li>Opportunity cost benefit over always driving a new car: $1,115,558 ($1,619,165 - $503,607)</li> </ul> </ul> <p>Since the opportunity cost of driving a new car all the time is around $1.6 million, by buying a cheap used car and maintaining it for 40 years you come out ahead by more than $1.1 million (i.e., the opportunity cost of the used car is only about $500,000, which is $1.1 million less than the opportunity cost of always driving a new car). In other words, if you only bought cheap used cars and invested the money you would have otherwise spent on new cars, you could make more than a million dollars in the stock market over 40 years.</p> <h3>Scenario 3: Buy a four-year-old car, drive it for 10 years</h3> <p>Now, what if you buy a four-year-old used car for $17,000, pay it off in four years at 4.9 percent interest, and then drive it for six more years with no payments? Since your car is more than four years old at all times, the analysis includes $100 per month for repairs and maintenance throughout the scenario.</p> <p>If you buy a four-year-old car and drive it for 10 years, this means that you will be driving a 14-year-old car at times. If you have not driven a car this old before, you may be concerned about reliability, but I can say from experience that well-maintained cars will easily run this long.</p> <p>Results over 40 years:</p> <ul> <ul> <li>Total cost of car expenses: $103,872<br /> &nbsp;</li> <li>If you invested instead, the opportunity cost of driving a nice used car is: $817,985<br /> &nbsp;</li> <li>Opportunity cost benefit of driving a nice used car instead of always driving a new car: $801,180 ($1,619,165 - $817,985)</li> </ul> </ul> <p>In other words, even if you bought a relatively nice used car every 10 years and invested the money you would have otherwise spent on new cars, you could still make more than $800,000 in the stock market over 40 years.</p> <h2>How much can you save driving used cars?</h2> <p>The results of these car buying scenarios over a 40-year period show that if you are willing to minimize your car payments by driving inexpensive used vehicles instead of new ones, you can come out ahead not only by saving on car expenses themselves, but by reducing the opportunity cost of your car payments by $1,115,558 &mdash; over a million dollars! If you buy four-year-old cars instead of brand-new and drive them for 10 years, you can come out ahead by around $800,000 in opportunity cost compared with driving brand-new cars.</p> <p>When you look at making a car payment of a few hundred dollars per month, it may not seem like a lot of money. But as you can see, financing new vehicles can add up to a lot of missed investment opportunity over time. This makes driving a used car instead of a new car seem like a relatively painless way to boost your retirement fund.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dr-penny-pincher">Dr Penny Pincher</a> of <a href="http://www.wisebread.com/could-you-put-away-a-million-dollars-by-driving-a-used-car">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-12"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-reasons-why-you-should-never-buy-a-new-car">3 Reasons Why You Should Never Buy a New Car</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/buying-a-rental-car-heres-what-you-need-to-know">Buying a Rental Car? Here&#039;s What You Need to Know</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-buy-a-used-car-without-getting-ripped-off">How to Buy a Used Car Without Getting Ripped Off</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-simple-ways-to-cut-your-car-expenses">5 Simple Ways to Cut Your Car Expenses</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/you-cant-make-it-as-a-one-car-family-now-what">You Can&#039;t Make It as a One-Car Family: Now What?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation comparisons depreciation investing new cars one million dollars saving money trade in value used cars vehicles Thu, 13 Apr 2017 09:00:09 +0000 Dr Penny Pincher 1923960 at http://www.wisebread.com 6 Mistakes Parents of Teen Drivers Make http://www.wisebread.com/6-mistakes-parents-of-teen-drivers-make <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-mistakes-parents-of-teen-drivers-make" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-472711350.jpg" alt="Learning mistakes parents of teen drivers make" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The day your child gets their driver's license is a big day for your teen and a nerve-wracking one for you. It's natural to worry about the safety of your kid on the open road. And picturing your young driver merging into busy highway traffic might cause you plenty of sleepless nights.</p> <p>Adding a teen driver to your auto insurance policy will also bring a hit to your finances. A study by InsuranceQuotes.com released in the summer of 2016 found that the average family adding a teen driver will see yearly insurance premiums rise by an average of 79 percent.</p> <p>Here are six mistakes to avoid if you don't want your insurance premiums to skyrocket the day they get that long-awaited license.</p> <h2>1. Not adding your teen driver to your policy</h2> <p>You might think there's no need to do it right away, as they're only allowed to drive to school and back, or to other local spots that aren't far from home. But your teen doesn't need an hour commute each day to require the financial protection of an insurance policy. According to an accident survey conducted in 2012 by the NHSTA, 52 percent of car accidents occur within a five-mile radius of home. You never know what can happen once your kid heads out on the road. Make sure they are covered before you hand them the car keys.</p> <h2>2. Letting them drive too soon</h2> <p>Just because teens can start driving at 16, doesn't mean that your child needs to be behind the wheel at such a young age.</p> <p>Maybe your teen isn't ready to start driving at 16. Maybe it makes sense to wait an additional year or two before they start taking driver's education courses.</p> <p>Having your teen wait can actually make financial sense. The InsuranceQuotes.com study found that teen drivers have a lower average hit on your auto insurance premiums the older they are. Waiting until your teen is 17, for instance, could reduce your policy's rate increase.</p> <h2>3. Buying them a new car</h2> <p>It's exciting to hand the keys of a shiny new car to your new driver. You might also justify it by thinking it's safer (newest technology and all). But an expensive new car is also more expensive to insure. Does your teen really need the thrill of driving an impressive car, or can that feeling be saved up for the time when they work hard to pay for one themselves?</p> <h2>4. Forgetting about the good-grade discount</h2> <p>Teen drivers will receive a discount on their insurance rates if they are considered good students. The theory is that better students tend to make for safer drivers. Typically, teens with B averages can expect some sort of good student discount.</p> <p>If your child does get good grades, don't forget to report them to your auto insurer. The discount for good grades is a solid one, and usually ranges from 5 percent to 15 percent off.</p> <h2>5. Failing to enforce the rules</h2> <p>Teen drivers generally face greater restrictions than other drivers. These restrictions vary by state, but your teen might not be allowed to drive past a certain hour in the evening and might be restricted to a certain number &mdash; and age limit &mdash; of passengers.</p> <p>It's important for parents to enforce these rules. If teen drivers are caught violating their driving curfew or with a car full of teen friends, they will get a citation. And that citation will boost your already higher insurance premium.</p> <h2>6. Not checking pay-as-you-go programs</h2> <p>Many auto insurers now offer pay-as-you-go insurance programs. Under these programs, you insert a small electronic device into your car's onboard diagnostics system. The device then tracks how many miles you drive and how long you drive. Some insurers also track the speeds at which you drive and how often you slam on your brakes while driving.</p> <p>If your statistics show that you don't drive too many miles, you might be eligible for a low-mileage discount. You might also qualify for additional discounts if your insurer determines that you generally drive at safe speeds.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/6-mistakes-parents-of-teen-drivers-make">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-13"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-myths-about-car-insurance">5 Myths About Car Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/repair-the-car-or-spend-the-cash">Repair the Car or Spend the Cash?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-used-car-salesman-reveals-dirty-tricks-and-how-to-beat-them">A Used Car Salesman Reveals Dirty Tricks (and How to Beat Them)</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-your-new-tires-really-6-year-old-ticking-time-bombs">Are your new tires really 6-year old ticking time-bombs?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/should-you-buy-a-car-with-a-credit-card">Should You Buy a Car With a Credit Card?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Family car insurance car safety Cars driver's license new car new driver teen driver teenage driver Wed, 29 Mar 2017 08:30:12 +0000 Dan Rafter 1917658 at http://www.wisebread.com Here's How a Claim Will Impact Your Car Insurance http://www.wisebread.com/heres-how-a-claim-will-impact-your-car-insurance <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/heres-how-a-claim-will-impact-your-car-insurance" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-475427309.jpg" alt="Man learning how a claim will impact car insurance" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You sideswiped a parked car. Or maybe you slammed on the brakes too late and rear-ended the driver ahead of you. Whatever happened, the accident is clearly your fault. Now it's time to give your insurance a call.</p> <p>When you file a claim, your auto insurer will pay for the repairs to your vehicle and, if you are at fault in the accident, whatever repairs are needed for other vehicles involved in the collision. Your insurer might also pay for any injuries suffered by you or other drivers.</p> <p>But filing a claim also comes with a negative: In most cases, it will cause your insurance rates to rise. How much your policy's rate rises depends on a host of factors.</p> <h2>Mitigating Factors</h2> <p>On its website, Geico says that drivers' rates don't automatically rise after an accident. Instead, the insurer looks at several factors before deciding whether to issue a rate increase. These include your driving record, the number of claims you've made in the past, and the amount of money that the insurer has paid out to you during the life of your insurance policy.</p> <p>Esurance also states that insurance rates don't automatically jump after an accident. The company says that minor accidents and fender benders don't always equal a rate increase, especially if you have a record of safe driving.</p> <p>Fault matters, too, of course. Esurance says that if you weren't at fault in an accident, your premium might not jump.</p> <h2>When Are Rates Most Likely to Jump?</h2> <p>Both Geico and Esurance say that premiums are more likely to increase if you are found at fault in a major accident. Again, your past driving record plays a big role in determining not only if your rate jumps after a major accident, but by how much.</p> <p>Your insurer, though, might increase your rate even if you weren't the driver who caused the accident. That's because car insurers have determined that even after an accident that isn't your fault, you are still statistically more likely to get into another accident. This makes you more of a risk to your auto insurer.</p> <p>Some states regulate how much of an increase you'll see after an accident, no matter who was at fault. Consider New York. Here, insurance companies can boost rates only if you were found at fault in an accident that caused injuries or more than $2,000 in property damage. In Massachusetts, insurers can only raise your premiums if you are found to be more than 50 percent at fault in an accident.</p> <p>You might also live in what is known as a no-fault state. In these states, each driver's insurer pays part of the costs involved in an accident, no matter who caused the incident. If you live in a no-fault state and file a claim, odds are that your insurance premium will rise even if the other driver was the cause of your accident.</p> <h2>How Long Before Your Rates Fall Again?</h2> <p>Fortunately, a rate increase isn't permanent. Esurance said that several factors play a role in how long your insurance premiums will remain at an elevated level after an accident. These include the severity of the accident, who was at fault, and whether alcohol was involved.</p> <p>Some states will regulate how many years back insurers can look when calculating premiums. In Massachusetts, drivers' at-fault accidents can only impact their auto insurance rates for three to five years.</p> <p>In general, you can expect your elevated rates to remain in place for three to five years.</p> <h2>How Much of an Increase Will You See?</h2> <p>Here's the big question: How much will your insurance rates rise after an accident? Again, this depends on a host of factors: Who caused the accident, were people injured, was there significant property damage, was speeding involved, were you drinking?</p> <p>A 2016 report by NerdWallet found that rates typically rise by $300 or less a year for an accident that you caused resulting in under $2,000 worth of damage. That rate increase jumps to $300&ndash;$600 a year if you cause an accident with $2,000 or more in property damage. If you cause an accident that results in any human injury, your rates will typically increase by $400&ndash;$800 a year.</p> <p>And if you are found at fault in multiple accidents causing $2,000 or more in property damage, your rates could rise by $1,000 or more a year.</p> <p>If your rate is going to rise, it won't come as a surprise. Insurers will notify you of any upcoming increase. Geico, for instance, says it will send you information about any rate increases about 30 days before your policy is up for renewal. At that point you can shop around to see if another company might give you a better rate.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/heres-how-a-claim-will-impact-your-car-insurance">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-14"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-things-you-should-know-about-rental-car-insurance">3 Things You Should Know About Rental Car Insurance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-reasons-you-should-buy-the-rental-car-insurance">6 Reasons You Should Buy the Rental Car Insurance</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-to-do-and-not-do-when-youre-in-a-car-accident">What to Do (and Not Do) When You&#039;re in a Car Accident</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-tips-to-save-on-car-insurance">4 Tips to Save on Car Insurance</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-times-you-shouldnt-file-an-insurance-claim">7 Times You Shouldn&#039;t File an Insurance Claim</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Cars and Transportation Insurance accidents at-fault auto insurance crashes fender benders no-fault premiums rate increase Fri, 17 Mar 2017 11:00:11 +0000 Dan Rafter 1909972 at http://www.wisebread.com