How to Handle Hidden Costs When Buying a New Car

Buying a new car is an exciting time, and it is very easy for buyers to overlook things that in any other situation might give them pause. As with any purchase, price is a paramount consideration, and most people would be surprised to learn a considerable portion of any car dealer's profit doesn't come from the car itself. 

In fact, most of those additional sources of revenue are well-enough hidden that the buyer often doesn't recognize them until they are hours, days or even weeks into owning their new vehicle.

One of the keys to making sure you don't overpay for your new car is to spot these hidden costs as early as possible, evaluate whether they are tied to options or features you actually need and see if there are alternatives that might reduce the overall price of the vehicle. This has two major effects. 

First, it may reduce the amount you need to borrow. Second, it may eliminate options and features you don't really need. Here are some things to consider. 

Financing

Dollar for dollar, nothing is more expensive than borrowing money to buy a car. The easiest way to avoid overpaying for your vehicle loan is to try and get pre-approved. This will give you a chance to negotiate the cost of your financing separate from the purchase itself. 

Even a few percentage points will make a tremendous difference, so this should be at the top of your list.

Insurance

Your choice of vehicle will have an impact on your insurance premiums. Whether you are buying a Subaru, a Ford or a Bugatti, you will be required to carry insurance on the vehicle itself in addition to liability or other coverage. 

The more expensive the vehicle, the higher your insurance premiums. Since insurance is an open-ended expense, extra premiums can add up in a hurry. Make sure you evaluate your insurance costs before you buy. 

Fuel

Since there are now so many options for drivers to reduce fuel costs, this is a category that should certainly be considered before purchasing. Like insurance, fuel is an open-ended expense, so saving even ten to fifteen percent over the entire term of ownership could add up to thousands. 

Fuel economy also doesn't automatically mean hybrid or electric either. Some vehicles get considerably better gas mileage than others. Further, your driving patterns may help you find less expensive options for city vs. highway driving as well.

Extended Warranty

The extended warranty is likely the most complex category simply because of all the factors involved. If at all possible, you should make certain any warranty beyond the manufacturer's is backed by an authorized dealer or the manufacturer itself. 

Warranties by third-party companies can often be far more expensive and far more difficult to enforce than ones offered by a reputable provider. A good source of information on this subject is the Auto Club.

Knowing where additional expense is likely to be found is the first step towards avoiding overpaying for a new car. Driving it will be more fun too.

5 Cost-Effective Ways to Increase Your Home's Property Value

Getting a house ready to sell can be daunting. Property values are constantly changing and buyers can be fickle. It's a stressful undertaking, but if you are willing to put in a little work you can greatly increase your home's value and make sure that it sells quickly. 

Here are some of the most cost-effective home improvements that you can make in the days, weeks, or months leading up to your home's market debut.

1. Paint

Paint is by far the most inexpensive home improvement. High-quality paint only costs about $25 per can and you can easily do the work yourself. Neutral colors will appeal most to buyers while light colors will make a room look larger and more open. 

Accent walls painted a brighter color can also be an excellent choice, but make sure that you limit their use to one room.

2. Flooring

When you're looking to buy a home, seeing that you will have to replace floors right away is a pretty big turn off. If your house is sporting stained carpet or ripped vinyl floors, take the time to get them replaced before it goes on the market. 

If you can, opt for hardwood floors. These will retain anywhere from 80 to 90 percent of their value during a resale. If your budget doesn't allow for hardwood floors, you can always replace your flooring with carpet or engineered wood. Be aware that these other options won't hold their value as well during the sale.

3. Curb Appeal

If your house looks good on the outside, it encourages people to come in. Keeping the outside of your home in top shape is essential if you want to sell. 

It can also be one of the easiest ways to get a few more dollars out of your home. If you don't have a lot to spend on landscaping, make sure that your yard is mowed, your hedges are trimmed, and any flower beds or gardens are well-kept. 

If your budget allows it, consider adding a porch with a small sitting area to give the house a cozy feel. Replace the front door with a steel model. Add some shade trees. In addition to being beautiful, well-placed trees can lower cooling costs and provide a home for squirrels and birds. 

4. Minor Remodels

If you are going to go through with a remodel, make sure that you start with a kitchen or bathroom. 

These are the two areas of a house that consistently offer a high return. Bathroom remodels can be expensive, but following Hillary Farr’s Rules of Renovation will ensure that you get the maximum return on your investment. 

Repaint the bathroom and remove any outdated wallpaper. Dress up mirrors by adding inexpensive frames. Choose stone countertops and wood cabinets or upgrade vanities and pedestal sinks. 

If you are looking to splurge on one item in your bathroom, let it be the shower. Currently, walk-in showers and floor to ceiling steam showers are the most sought after bathroom amenities. 

Many people are even willing to forgo a bathtub if it means that they have access to a spacious shower.

Kitchens renovations tend to cost more, but many of the same basic rules apply. Opt for wood cabinets and stone countertops. 

Paint the kitchen with bright, neutral colors. Replace low-quality kitchen sinks with farmhouse sinks. Upgrade appliances or at least ensure that the ones present are fully operational. 

Avoid adding recessed lighting whenever possible. Instead, opt for classic and stylish lighting fixtures or light tubes. 

5. Fiberglass Insulation

Although adding insulation doesn't seem exciting, it does offer one of the best returns on investment. Adding high-quality insulation to the attic increases the market value of your home and lowers your heating and cooling costs all year long. 

This is one home improvement that you should definitely consider whether you plan to sell your home now or in a couple of years.

Use these simple upgrades to increase your home's market value before you put it up for sale. Buyers will be impressed with a home that looks cared for and their offers will reflect it. 

Try out some of the improvements on this list and see just how big of a difference they can make in your home.

Get the Most Money of Your Used Car with These 5 Improvements

The easiest way to sell a car is to be confident about the goods. Make your car easy to sell and at a good price by investing a little bit of your time and an affordable amount of money. This is what will help the new owner feel like they struck a good deal.

Do the minor repairs

Provided that the car you are selling is in a good general state what you need to do is have a look at your dashboard and see whether there are any unwanted lights on. 

 Your car is maybe signaling that there are still minor issues to be removed and this is something that you want to do before you sell it. Being honest about the issues with a customer is a right thing to do, but it is even better to have nothing to report.

Take it for regular maintenance

Once everything is repaired, check whether your car is due for regular maintenance. Have the oil replaced, check the battery and the wheels. 

This is something that the new owner would most likely do first thing after purchasing the car, but you having proof of it being done just recently will set them in a good mood and help them make the decision.

Make it pretty!

Make your car nice to look at. You want it to be a pretty sight so it can leave a good first impression and make the potential new owners feel great about it. 

Take your car to an auto body shop and ask them to fix any visible dents or scratches. Also, if there are signs of rust especially at the underbody, ask them to remove it and protect the car appropriately.

Check the inside

Give the inside of your car a detailed wash. Check whether paint started to peel off or is worn off and repaint it. Estimate the state of the upholstery and judge whether any of it needs replacing. 

If you cannot clean it so as to look as good as new, consider buying new car seat covers and new mats. Check the stereo and the speakers and make sure they are functioning properly as it will add to the entire experience of driving the car.

Deals on Wheels

One of the first things I have mentioned is checking the wheels. You can take your car to an auto service center and have a professional mechanic align your wheels or, alternatively, you can do it at home if you are generally ok with DIY stuff. 

Have a look at the tread on your tires and replace them if they are not in the best of shape. This is one of the things that a buyer will instantly spot as they are probably calculating in the expense of getting new tires. 

Get cool hub caps, make sure the style matches your car, polish them and spray the tires.

Depending on how quickly you need to sell, if it is an option, think about selling it yourself as you will get a better price without having a mediator. Any dealership will give you a lower estimate on the car as they need to earn from the transaction as well. 

Remember to provide the new owner with all car related paperwork and advise them on all the repairs and maintenance you have done.

Having done all of the above will make your car look brand new. Don’t forget to give it a good wash and a wax as people generally like shiny things. 

If it is not too much to ask, throw in some perks such as emergency equipment, the vest, triangle, a first aid kit etc. Let your old vehicle do you proud one last time.

Expert Expenditures: 4 Tips to Make Your Monthly Spending More Effective

Establishing yourself financially is a process that can take a fair amount of time and effort. Many young people struggle, especially during their first few years on their own, to manage their finances well and achieve stability. 

If you are currently in this situation, however, there are some excellent steps you can take to position yourself for better security down the road. In particular, you should be focusing on your monthly expenses, as limiting what you spend will give you more money to save or invest. 

Here are four ways to make your monthly spending more effective and free up more of your income.

Get Your Debts Paid Off

One thing many younger people struggle with is personal debt, often from credit cards. If you find that you're making monthly debt payments, your first focus should be to pay this debt off as quickly as possible and avoid taking on more in the future unless it is necessary. 

There are exceptions, such as student loan debts and home loans, but credit card and personal loans will do nothing to help your financial position. Be sure to pay down whatever debt carries the highest total balance first, as this will allow you to reduce your monthly expenses more quickly.

Buy Food in Bulk

Though it may seem like an insignificant expense on a day-to-day basis, most people spend a great deal more than they realize on food. An easy solution to this is to buy foodstuffs, especially meat, in bulk at the beginning of a given week. 

This will not only let you track your spending more easily, but also help you get better deals on the food you buy. A freezer is also useful, as it will let you save excess food for later consumption.

Stop Renting and Buy a Home

One of the best financial decisions you can ever make is to stop paying rent and purchase a home. On a month-to-month basis, your payments will often be lower than they would be for rent. 

In addition, you will be building equity in your own asset instead of paying for your landlord's equity. The only people for whom owning a home isn't advisable are those who plan on moving out of the area in which they live sometime in the near future. 

For these people, the advantages of home ownership are few.

For everyone else, however, owning a more makes vastly more sense than renting a house or apartment. 

Look for construction in the area you want to end up in eventually, like new homes in Utah County or build a house in Houston, to ensure that you end up where you want to be.

Try to Consolidate Bills

These days, most people have many more bills than an average person did in the past. Some, though certainly not all, of these bills can be consolidated. For example, many phone service providers also offer internet and television. 

The cost of bundling your services together with one company, rather than having multiple accounts, can be significantly lower. Keep in mind that even small savings on monthly recurring payments can add up over time.

If you save just $10 per month by bundling bills together, you'll save a total of $600 over the next five years. Such small changes can make a big difference when it comes to your finances, so be sure to take advantage of them when possible. 

Becoming financially stable will take effort on your part, but the rewards of it later in life are significant. The more money you can save and invest now, the greater your opportunities will be in your 40s, 50s and beyond. 

Be sure to explore all avenues that can save you money on your monthly bills, and you'll be on the path to basic financial security before you know it.