The Debate Over Buying a New or Used Car

Deciding whether to buy a new or a used car can be difficult. When considering your options, which of these three do you fall under:

1. I am looking for a particular car, and am not concerned with its depreciated value over time.
2. I am looking for a balance between investment value and features/preferences.
3. I am looking for a car that will retain the highest value possible over time.

There are distinct advantages and disadvantages no matter which way you choose to go. But let's look at my recommendations based on the above categories. If you fall into Category 1, you should buy a new car, and drive it for years to come. The key thing here is, that you do not sell you car within the first two years, as new cars lose 60-70% of their value during this time. You should expect less maintenance costs with a new car, but I highly recommend obtaining a great warranty package as well to further reduce your maintenance costs, the point being that since you will be making a car payment, you want to have as few unforeseen costs as possible.

If you fall into Category 2, your decision is the toughest. You will most likely want to buy a used car, looking to take advantage of the first owner's loss in value, but not too old (maybe only 2-4 years old). But, you also have preferences, such as how large the vehicle needs to be to suit your family, bad weather performance capabilities, gas mileage, and aesthetics like color, interior type, etc. This will instantly narrow your list of potential candidates to choose from, and you may want to consider buying a dealer authorized pre-owned vehicle. You may still end up with a car payment, but you will have the satisfaction of retaining the value of your vehicle longer, and the advantage of a dealer warranty and inspection/guarantee. For many middle income families, this is a very popular and often chosen method.

Category 3 is where I fall. This type of person is looking for maximum value and Return-On-Investment (ROI). They will buy an old car (I usually buy cars that are 10-15 years old) that has high mileage and only a small blue book value. Many times I will buy my cars for around $2,000-$3,000 in cash. I have no car payments, high gas mileage, and low car insurance costs because old cars aren't worth much. Maintenance costs tend to be a little higher, but still far less than a car payment every month. The key here is to choose a reliable vehicle, and my personal preference is to go with small 4 cylinder Hondas. My last Honda Civic lasted about 3-4 years and was pretty reliable, with only a handful of maintenance problems. Hondas run forever (many people putting 200,000+ miles on them) and are known for their lack of maintenance nightmares.

In closing, I recommend buying an old used car, paying with cash, and driving the car for as long as possible. You will be able to take advantage of someone else losing all the value of the car due to depreciation, you will not have a car payment, and your car insurance costs will be less due to the lower value of the vehicle. It just makes the best sense financially speaking.

Get more great finance and investing tips at Jeffry Evans' personal finance blog. Should I Buy a New or a Used Car? is just one of many great articles you will find at Personal Finance Resources.

Are Men Better Drivers?

A new study has shown that women and gay men are likely to be the worst drivers on the road, although this depends on your definition of best. Research showed that in navigational and spatial awareness tasks both perform poorly when compared to heterosexual men.

The study was conducted by Queen Mary, University of London, who stated that the findings would mean gay men and women would find driving in a strange environment more difficult than straight male motorists. Both tend to rely on local landmarks to navigate their way around and are slow to absorb spatial information.

140 volunteers participated in the study, which found that gay men, straight women and lesbians all navigate in a similar way, sharing their weaknesses. Earlier studies have also claimed that women are poor navigators. Women are consistently more successful in tests which require the position of objects to be remembered, whereas men perform better in tasks needed navigational skills and the ability to uncover hidden objects.

Dr Qazi Rahman led the research team who used virtual reality simulations of two different spatial learning and memory tests which were originally developed at Yale University. An example is one where volunteers had to swim through an underwater maze to find a hidden platform, and another was exploring radial arms which projected from a central point in order to receive rewards.

Dr Rahman made the observation that: "Men are good at using distal, or geometrical cues, to decide if they're going north or south, for instance. They have a better basic sense of direction, but they can use local land marks as well."

"Driving in a novel environment which is poor in cues is where these differences are likely to show up most. Women are going to take a lot longer to reach their destination, making more errors, taking wrong turns etc. They need more rich local landmarks."

The divisions in the sexes were not straightforward though, "Gay people appear to show a 'mosaic' of performance, parts of which are male-like and other parts of which are female-like," Rahman said. The irony of the matter is that women's car insurance is cheaper than men's because men are responsible for more of the serious accidents that occur on roads.

A previous study, conducted by the University of Giessen, Germany in the journal of Intelligence revealed that a lack of testosterone affects spatial awareness. The research examined the spatial, numerical and verbal skills of 40 volunteers, map reading and parking are spatial skills.

An example of the tests administered were choosing which of five drawings could not be rotated to look like the other four. Overall men scored higher than women, Dr Petra, the research leader, said that the differences between the group studied were "remarkable".

However it has been admitted that the study was limited because no detailed account was taken of women's menstrual cycle which can affect hormone balance.

A member of the British Psychological Society, Dr Neave, remarked: "The sexes do use different skills to find their way around. Men seem to be able to keep the route in their head without landmarks, whereas women do use them."

"So men may be better at finding the car when it's parked in a huge shopping centre car-park. It may also tap into driving and parking abilities. Men do seem to be better at spatial abilities, and women at verbal and emotional skills. It may be a generalization, but that does seem to be the case."

It is also possible that the more skilled drivers may simply be more experienced, practice does after all make perfect.

About the Author:
Jemma Tipping - http://www.onlyfinance.com

Low Cost Car Insurance Is Available

If you want a very low cost car insurance then shopping online with a specialist broker is the best place to go to get it. There are brokers who can shop around the market place on your behalf and find you the very best possible quotes. A specialist broker is able to search the motor insurance market place and find among the cheapest premiums based on the circumstances of the individual.

Car insurance premiums do vary from provider to provider and they also vary on the individuals circumstances too. This means that shopping around the market place and getting several quotes is a necessity when getting the best deal and this is where a broker can help. Doing it all by yourself takes an enormous amount of time, an individual also does not have access to the same lenders a broker does.

While the broker can find low cost car insurance on your behalf you do have to play a part in it. The broker will need to know your circumstances such as the type of car you want to insure, your age, gender and the type of cover you want.

Installing such features as security devices can also shave a little off the cost of your cover. Such features include steering locks, immobilisers, tracking devices or having the windows etched. Where you park your car is also taken into account. Parking it on the road will not be seen as safe as if you had parked it in a garage. Even the colour of the car can make a difference to the cost. Those who choose red for example are seen as being more of a risk than those who choose a brown car.

The named drivers on the insurance will also affect the premiums, with a named spouse attracting a discount while a younger driver pushes the price up.

Whichever type of insurance and whatever your circumstances a specialist broker can help you to make huge savings. Insurance companies will offer special deals for those who fall into certain brackets for instance women drivers, younger drivers or older drivers. Younger drivers have been known to be at the high end of the insurance bracket as they have the least experience. Having a no claims bonus goes a long way to saving money on your insurance and a young driver does not have the experience. A younger driver can take advanced driving lessons to boost their record and make savings on their insurance.

One of the biggest factors you have to remember when getting low cost car insurance is to read the terms and conditions of the policy. This is where you can find any additional costs that come with the quote and also what is and is not covered in the policy. Comparing policies of a similar cost is essential because one policy could feature something which the other does not. Some policies for example include basic breakdown cover or handbag theft so it is worthwhile not only comparing the costs but also the terms and conditions of the policy.

About the Author:
David Thomson is Chief Executive of BestDealInsurance (http://www.bestdealinsurance.co.uk/) an independent specialist broker dedicated to providing their clients with the best deal on their home, motor and life insurance.

How To Save Money And Get Discount Car Insurance In Alabama

Alabama is serious about requiring every driver on a public road in Alabama to buy car insurance. That's why so many drivers are looking for ways to save money and get discount car insurance in Alabama.

So how can you save money on your car insurance here in Alabama? Start by driving legally and safely at all times. Nothing drives up the cost of car insurance like a speeding ticket or other moving violation - unless it's a DUI or DWI conviction.

If you are convicted of a DUI (Driving Under the Influence) or if you are convicted of a DWI (Driving While Intoxicated) you'll be out of luck as far as getting discount car insurance for at least 3 years. If you receive a second DUI or DWI conviction you may never see cheap car insurance again in your lifetime.

If you have a garage and you can keep your car in a garage at night let your agent know - it could save you money every month on your policy.

Add safety features to your car. Ask your agent if you could save money by purchasing and using a steering wheel lock. Ask about a simple electronic device that disables your fuel pump unless you enter a secret code or press a hidden button; such devices are inexpensive and easy-to-install and can save you money on your insurance every month.

If you're in school and under age 25 stay where you are and work hard. If you can maintain at least a "B" grade point average you can save as much as 5% each month with your Good Student Discount.

Are you recently retired? If so, let your agent know. If your car is no longer being driven to work and back every day there is a rather nice discount on your insurance.

And speaking about not driving your car so much, many people are now starting to use public transportation for as many of their traveling needs as possible, only using their cars for emergencies and special occasions. If you can knock your monthly driving down to under 500 miles let your agent know - you will be entitled to a Low Mileage Discount.

What about your deductible? Think about it carefully because this is cash you'll have to come up with out of your own pocket if you ever have a claim, but the larger your deductible the smaller your monthly premium payment.

If you're over age 55 ask your agent if your company offers a driver's refresher course. If so, and if you pass it, you could save as much as 10% each and every month on your car insurance.

Using the information in this article see if you can put together a car insurance policy on paper which will save you as much money as possible - and then get online and see what you can find on at least 3 of the websites that allow you to compare prices at various insurance companies.

Compare the policy you just created on at least 3 of those websites and then simply choose the lowest price you can find. That's it. Now you have saved money and gotten discount car insurance in Alabama! Good job!

About the Author:
My recommended sites here: http://www.ezquoteguide.com/car/ http://www.myquoteguide.com/