Corina Marisol. sedan. September 03rd , 2017.
The author of a well-read and well-circulated financial blog, the Simple Dollar, wrote that you should put money down on a car in order to avoid GAP insurance. What is GAP insurance? GAP insurance stands for Guaranteed Auto Protection and is a supplemental form of auto insurance that covers the GAP between the residual value on the car if it is totaled out and the loan amount on the car. GAP insurance is an additional expense especially if you purchase a car that does not hold its value over the long run (as most dont) but is it worth giving up $3000-5000 cash to avoid the premium? Of course not. And heres why. Cars are depreciating assets. As a rule of thumb they lose 10-25% of their value each year for the first 3 years. Putting any money down on a car, therefore, is a lot like taking a roll of Benjamins into your bathroom, lifting the lid and flushing 30 to 50 of those bills down the toilet. Any money that a new car purchaser puts down will not translate into equity in that car, but will disappear into thin air the moment the new owner drives that car off the lot. GAP insurance on the other hand is a relatively small expense a consumer may or may not choose to assume. Should the consumer choose to get GAP insurance, it is based on the value of the new car and the expected depreciation. For the top-ranked cars in terms of the least depreciation, GAP insurance will cost the least. For the cars that depreciate the most, GAP insurance will cost the most. Kelly Blue book posts an annual list of cars that depreciate the least. Doesnt car insurance offer full coverage for a car? No it doesnt. Insurance companies are smart, they wont pay more than a vehicle is worth. Consumers do that. Car insurance will only cover the residual value of a car in the event of an accident, not the full loan amount owed on a car. Pay $20,000 for a new car and wreck it in the first year, your auto insurance will cover only the residual value of that car. If that residual value is $15,000 and you owe say $18,000 you are on the hook for the $3,000. Here are the basic things you can do to avoid this depreciation calamity and hang onto your money:
My father has been driving his old van for more than 10 years now. Although it has been giving him more than a few problems, he cant be decisive enough to junk it and buy a new one.
Another way to look into the best mileage cars is to look into the way that the cars are built. The first characteristic within this will be the number of cylinders that are in the car. For smaller cars, finding something with a 3 or 4 cylinders will most likely be more efficient in the gas mileage that it is able to use. For larger cars, a six cylinder car will be more effective in allowing you to drive in the right way because of the way that it is built around this specific feature.
Nitro remote control cars are a truly addictive and hands on hobby that is enjoyed by many people from all walks of life. This tends to be more of an adult hobby than one for children for several reasons. First of all, the cost of purchasing even basic model nitro remote control cars is very expensive. Second, there is a great deal of maintenance that must be carried out in order to keep your RC car in top running condition.
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