Friday, September 27, 2013

21 Scams Used By Devious Car Dealers — And How To Avoid Them....Here is my finance lesson of the day for students.

When I bought my first car(s) on my own I made a TON of mistakes that cost me dearly.  If you are young person and don't have someone with experience to help you, my first recommendation is to find someone who can.  It can be treacherous!

Absent that this article has some very good advice. Probably the best tidbits are the ones that suggest you "unbundle" and treat separately all parts of the transaction, i.e. car price, interest rate, trade-in allowance and other extras you might consider.  

It is a REALLY difficult thing to do and the car dealer will resist you every step of the way.  They are not your friend. Be very deliberate in negotiating each transaction and be prepared to walk away. There is always another car to fall in love with at a place that will accommodate you.  

It is worth the time to go through these items and save your hard earned money. 

21 Scams Used By Devious Car Dealers — And How To Avoid Them

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Tuesday, September 24, 2013

King Dollar still reigns. It will be awhile before it is dethroned. Nice graphic showing the "lead" it has on the next most desirable currency...

The US dollar is the preferred "medium of exchange" in conducting physical and financial transactions internationally.  It lost some of its shine during the recession (the Euro was the default currency, and the Pound and Swiss Franc to a lesser extent--you can tell by the height of the red bar relative to the blue one).

The dollar is used in approx. 44% of international transactions. This helps maintain the value and importance of the dollar around the globe.  Long live The King...

Source: NPR
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