tduuavb
« Home
Sunday, November 4, 2007
Buying a Car Can Turn You Upside Down
It's expensive buying a car and it only gets more so as time goes on. Over time, the price of new cars has increased faster than the rate of inflation. This isn't entirely due to greed on the part of automakers; cars are also more complicated and useful than they used to be. Sure, they were cheaper in the 1960's, but they didn't include air conditioning, air bags and video systems. Convenience and safety comes at a price.With the increase in price comes an increase in the length of time people are taking to pay off their cars. Few people pay cash; most people take out loans and pay over time. The average car loan, which used to be repaid over a period of three years, now averages about six years in duration. That's a long time to pay for a car, especially if you have no plans to own it for that long.
Taking six years to pay for a car has its advantages, as the payments are lower than they would be over a shorter loan term. Such a long loan does have a significant disadvantage, though - you can find yourself in a negative equity, or "upside down", situation. This can be a serious problem - if you should total the car in an accident, your insurance company will only pay you the value of the car, and not the amount you still owe.
A buyer is described as being upside down when he or she owes more on a car loan than the car is worth. It's easy to find yourself in an upside situation, and it can occur under any of the following circumstances:
Insufficient down payment - Cars depreciate as much as 25% the minute you drive them off of the lot. If you haven't provided enough of a down payment to cover that depreciation, you may find yourself upside down immediately.
Trading in too often - Buyers like to trade cars in and roll their outstanding balance into a new loan. These unpaid debts can contribute to negative equity.
Too long a loan - Five and six year loans often lead to negative equity. You can often avoid it by keeping the length of loans to three years or less.
In order to avoid a potential problem in the event of an accident, you should contact your insurance provider to make sure that you have "gap insurance." Gap insurance will make sure that you are protected should you have an accident while in an upside down situation. Without gap insurance, you may find yourself still making car payments even though you no longer have a car. That is the last thing any car owner wants.
©Copyright 2006 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing. Retro Marketing, established in 1978, is a firm devoted to informational Websites, including http://www.LemonLawHelp.net, a site devoted to automobile lemon laws and http://www.car-insurance-help.net, a site devoted to car insurance. Can Easy Kid Make Money
Latest Video Game News Covering Xbox Playstation 2 And Gamecube
Make Money Online Selling
Myspace Com James 29 Male Guangzhou Guangdong Html
Learn Make Money More Online
Digg Greatest Video Game Accessory Evar
free casino game
Internet Make Marketing Money Network
free online casino
Make Money Site Ways Web
Best Internet Make Money Way
Easy Kid Make Money
Earn Extra Free Make Money Online Site Survey Ways
Full Service Email Marketing
Being Just Make Money Online
Ebay Make Money Online Selling
Blockbuster Video Game
Kid Make Money
Microsoft Chooses Vmc As Xbox 360 Game And Console Tester
Smoking Ways To Quit For Good Caremark Health Resources
How To Make Money On Your Web Page
Helping Kid Make Money Online Poor
Make Money Extra Income
Youtube Angry Video Game Fag Walkthrough Hitman Blood Money
Easy Ways To Make Money For Child
Quit Smoking All Together With Quitnet Com Stop Smoking Help And Cessation Support
Make A Video Game Pixel Art T Shirt Hacker Zen
Video Game Exchange
Can I Make Money On The Internet
6 Fast Make Money Money Quick
Psychiatric Associates Welcomes New Psychologist To Staff Daily
online casino free bonus
Get Paid To Play Games Paid Games Online
Home Internet Make Money Real
make money quick ways
Again Make Money Stock That
Make Money Quick Scams
Fast Fast Make Money
Quitsmokingtips Quit Smoking Tips
Extra Home Make Mom Money Work
Easy Fast Get Make Money Ways
History Of Video Game Consoles Sixth Generation Wikipedia The Free Encyclopedia
Computer Counterfeit Make Money
Business From Home Make Money Opportunity Work
Business From Home Internet Make Money Site Site
Quick And Easy Ways For Teenager To Make Money
Cheap Ways For Kid To Make Money
Can Extra Make Money Woman
Game Menu Every Video Game Nintendo Sega And
Fast Investment Make Money No
Anger Management Education
Electronic Arts Jobs
Make Money Net Off
Easy Home Home Make Money
On Fixed Income Need To Make Extra Money
Executive Pay Outcry Daily
Gamestop Buys Rhino Retail Chain Next Generation
Domestic Relations Class Listings In Travis County Texas
Business Business Home Internet Make Make Money Money Online
What S Good About Anger Anger Management Resources
Schwablearning Org Quiz Anger Management For Kids Dealing With Feelings
Make Money Online Work At Home Opportunity
Make Money Real Ways
The Quit Smoking Coach Daily Email And Quit Smoking Coaching Services
Make Money Page Web
Easy Make Money Teenager Ways
free casino game
Make Money Survey Take
casino slot
Credit Home Make Money Online Opportunity Work
Anger Anger Management Trauma Dissociation Resources And Help For You Or The One You Love
Quitsmokingways Com
Bridging The Gap Yorkregion
all psp video game
Native Dancer Diabetes Education Video Game
casino game
Amazon Com Anger Management Skills Key Phrase Page
make money via internet
Forumup Us Create Forum Free Forums
Affiliate Internet Make Money Program
Make Money In Real Estate
Earn Easy Ways To Make Money
Make Money Business Work From Home
Behavior Problems Or Anger Management
Certified Anger Management Providers In California
Business Home Let Make Money Money Secret Spending Without
make money new ways
From Home Home Make Money Online Work
free casino
Email Marketing Server
Credit Easy Make Money Quick Ways
Cheap Kid Make Money Ways
Suggestions To Help You Fight Aging The Columbus
Idea Make Money Quick
Email Marketing Service
Notes From The World Of Anger Management Why Control
Electronic Arts Jobs United States Locations
Free Google Make Money
Need To Make More Money
make money in real estate
Posted by jimfsfli | 1:36 PM | 
Oct 15, 2007 Oct 16, 2007 Oct 17, 2007 Oct 18, 2007 Oct 19, 2007 Oct 20, 2007 Oct 21, 2007 Oct 23, 2007 Oct 26, 2007 Oct 27, 2007 Oct 28, 2007 Oct 30, 2007 Nov 1, 2007 Nov 2, 2007 Nov 3, 2007 Nov 4, 2007 Nov 6, 2007 Nov 7, 2007 Nov 9, 2007 Nov 11, 2007 Nov 13, 2007 Nov 16, 2007 Nov 22, 2007 Nov 23, 2007 Nov 28, 2007 Nov 29, 2007 Dec 16, 2007 May 27, 2008 Jun 1, 2008 Jun 7, 2008 Sep 19, 2008 Oct 7, 2008 Oct 13, 2008 Oct 28, 2008 Nov 4, 2008 Nov 8, 2008 Nov 15, 2008 Nov 22, 2008 Feb 18, 2009 Mar 4, 2009 Mar 25, 2009 Jun 30, 2009