Economy Wanting Young Adults In Debt

Adults under 35 have more student loan debt and less exposure to credit card, car, and home loans. That's a troubling sign for the economy.

Jobless college grads unable to pay down their student loans now wonder if their degrees are really worth it. And as Europe grapples with its own debt problems, Washington lawmakers struggle to find a way to reduce the U.S. deficit.

But debt isn't always a bad thing. More of it can reflect a healthy economy. This is because consumers and lenders feel comfortable taking on more risks.

The Federal Reserve's policies to keep interest rates super low has spurred more home and car sales by getting consumers to borrow more, but it appears young adults have benefitted less from the central bank's bond-buying program.

Home ownership of young adults has fallen greatly and young people are less willing to take on credit card debt and auto loans, suggesting they aren't in financial positions to commit to monthly payments.

Compared with 50% in 2001, only 39% of young households in 2010 had credit card debt. When it comes to vehicles, 73% of households headed by an adult younger than 25 years old in 2001 owned or leased at least one vehicle. By 2011, that share fell to 66%.

In a recent survey at Rutgers University 40% said student debt was making them delay large-scale purchases, such as a house or a car.

Faced with big monthly payments, recent college graduates aren't earning as much as graduates before them. The median salary for those graduating between 2009 and 2011 was $27,000 -- $3,000 less than 2007.

CNNMoney

Best Advice for Selling your Current Used Vehicle Online

When it is time to upgrade your current vehicle to a newer or nicer one you will need to sell your current one before you upgrade. There are many ways that you can do this and the most effective one is selling your vehicle yourself because you get the most money for your old vehicle.

According to Stacey L. Hardford from Smartmoney.com, the best way to sell a used car is to post your used car ad online so you can sell your car quickly and at a good price. She also mentions some of the best websites for selling your car include; EBay Motors, Cars Direct and Auto Trader.

Here are some tips for selling your car online:

• Clean up the interior and exterior of your vehicle before taking pictures.
• Get your vehicle tuned up and get all the regular maintenance done before posting your ad.
• Take pictures from a variety of different angles so that the buyer gets a good idea about what kind of condition the vehicle is in.
• Research how much your vehicle is worth in its current condition - try using Kelly Blue Book or another car pricing website.
• Pick which website would work for you the best and try to avoid websites like Craigslist.
• Be honest on what kind of condition your vehicle is in.
• Be firm on what price you would like to get for your vehicle, have a bottom price that you would take and try and avoid people talking your vehicles value down.
• Don't rush selling your car and try to find the best buyer that will offer you the most money. 
Smartmoney

Buying a car? You're never alone!

You never have to feel alone when buying a new or used car ever again! Thanks to great websites all over the internet you can now have help when purchasing your very own personal car.

There is a new website out there called zag.com and is here to help you purchase your car for a great deal that you won't regret.

Zag.com helps you find the exact car you're looking for, for cheaper. You can enter the model and year you want and they will have the research and best deal for that car. They claim they can find the best deals and proved that car dealerships are making customers way over pay.

Zag.com will give you the best results they can find and you simple print off the certificate and present it to the car dealership to show proof that there are cheaper places to buy the same car they are offering.

Zag.com is a great resource for customers who don't know much about cars and what good deals are. They will help you find the best deals for the lowest prices and a deal you will never regret!

Want The Best Value For Your Current Vehicle?

When you are thinking about getting a different vehicle you probably are going to need to get rid of yours first!

 A lot of people trade there vehicle in for the ease of it, but you are not getting what your car is probably worth. Older cars when traded go to auction as stated by, The Post and Courier “On the buying and selling of cars”.

Instead of trading, you might want to think about selling your car. With selling you can get more money for your current vehicle. 

Here are some tips to get the best value for your current vehicle:

·         Make sure your vehicle is cleaned up before selling it!

                      Try to make sure it is washed, waxed, vacuumed, wiped down, and has clean windows.

·         Be honest about the condition of the vehicle!

                      If you want to sell it quickly, be fair and honest.

·         Make sure your asking price is firm or have a bottom price point you will accept!

                      People like to haggle; you can avoid that by having a firm price.

·         Try not to hurry when selling your vehicle!

               Doing this helps with haggling as well.

 

Article: Buying & Selling Vehicles

 

 

One Way to Save Big On Cell Phones

If you are looking to save money on your cell phone bill going to a prepaid plan may be your best option. Prepaid phones used to be very basic and unpopular but not anymore.

Now some prepaid plans offer popular smart phones such as the iPhone or Galaxy S. In addition these plans offer unlimited talk, text, and data. Going to a prepaid plan can save you more than 20 dollars a month.

Prepaid companies include:

• Tracfone
• Straight Talk
• Metro PCS
• Verizon
• T-mobile
• AT&T

Another saving tip is when you are coming off of a contract and you still enjoy your phone ask if you can transfer your phone to a prepaid plan. Therefore you save money on your monthly plan and don’t need to spend money on a new phone.

ABC News

The Cost of Neglecting Regular Car Maintenance

With today’s tight economy and bad job market automobile owners might be tempted to put off routine maintenance on their car. However this is the worst thing you can do to it and your wallet. According to Margarette Burnette from Bankrate.com “poorly maintained vehicles cause thousands of wrecks a year”.

If you do not maintain your car, one that might have lasted 200,000 miles might be lucky to get to 150,000 miles on it. If you put off regular maintenance items, it will result in expensive repairs down the road.

Some tips to prolong your cars life span include.

1. Regular oil changes every 3,000-4,000 miles. Oil changes help keep your engine clean and reduce friction on metal to metal parts, saving on unnecessary wear and tear on your engine, making it last longer and run better.
2. Rotate tires and check air. If you rotate your tires every 5,000-6,000 miles and check the air pressure in them regularly, you will increase your gas mileage and increase tire life.
3. Annual Brake check up’s. After awhile your brake pads and rotors wear out. If let go, this could be both a hazard for you and everyone else on the road.
4. Regular tune ups. Regular tune ups will make you engine run more efficient which in turn will result in less engine wear and better fuel economy.

If car consumers follow these four simple steps, they can expect to get the maximum amount of life out of their car and save money in the long run, both in repairs and gas.

Bankrate.com

Buying a Classic Car

Buying and owning a classic car can be fun especially if you’re an avid automotive enthusiast like me.  There are all kinds of classics to choose from that it makes it difficult to choose the right one for you.  This is supposed be fun but there are also some things you must know before purchasing a classic as this can save you a lot of headaches and won’t put a dent in your wallet.

When you are looking into some of the classic cars you plan on buying do some research on the car like you would if you were buying new one.  The same concept for buying a new car is also used for buying classics.  Look to see if there is any blogs or forums that relate to car so you can get a better insight of the classic you are buying.

Some important info you need know about the car is that can you get replacement parts for the car in case something breaks?  This can make life a little difficult as some a lot of the makes of vehicles have gone out of business so there may not be a supporting network for replacement parts for the car.  Age also does the same thing as it’s harder to find parts for an older car like a 1927 Ford Model T for example. If you don’t want to pay for that kind of costs get a classic with a good parts network.

Look up the history of the vehicle such as through a VIN number or service records to give you a good history of what the vehicle has been through.  Once you have done that check over the vehicle like you would on a newer car to make sure everything is in working order.  Some of the cars will need expensive restorations depending on what condition it’s in and what you are going to be doing with the vehicle.

If you plan on buying a classic car as an investment there are some things to know.  Michael Wolfe from ehow.com says that many people buy classic cars believing the value of the car will go up.  This is not the case as most of the goes actually depreciate in value.  Be sure to look into a classic that has a history of its value appreciating before buying it as an investment.

Last thing to remember is have fun as this is an exciting and fulfilling hobby that any automotive enthusiast will enjoy.

ClassicCarBuyingTips