Are you sure you need a new car? I’m sure you want the newest safety features and modern styling that a new car offers. Perhaps you need a larger vehicle to fit your growing family. You probably feel that your old car no longer fits your life. But how about cost?

From an economic perspective, you’re better off keeping your old car. It could save you thousands of dollars. Taking better care of your current car may make much more sense in the long run.

You’re probably thinking - those repair bills are really adding up. But the cost of repairs will never exceed the cost of a new car. Changing your oil, replacing brakes, belts, and hoses are nothing compared to monthly payments on a new car. Even costly repairs like rebuilding an engine makes good financial sense.

If you’ve paid off your car, it is still in great shape and needs only a few modest repairs, there’s no need to throw it away. Enjoy your freedom from car payments. Enjoy lower annual taxes, insurance rates and license fees on your old car. Buying a new vehicle would mean several years more of monthly principle and interest payments on a loan.

You can feel secure knowing that modern vehicles last longer. Not too many years ago, a vehicle’s useful life did not exceed 100,000 miles. Today, many vehicles can breeze right past that 100,000 mile mark with no more than a tune-up, or maybe a new timing chain or fuel pump.

Older cars generally cost more to maintain and are more likely to break down. Repairs can be frustrating and expensive. But on the other hand they’re cheaper to own and operate. They lose most of its value in the first five years of their life. Your used vehicle won’t depreciate as much, saving you thousands.

Unless you’re rolling in cash, I’d say keep your old clunker. Comfort yourself knowing that one day you’ll be able to easily afford that costly new ride.

Ah, the excitement of a brand new car! Driving to every friend’s house you ever had to show it off. Spit shining it ever chance you get.

The only bad part about the deal is, well… the deal.

Fortunately, there’s a way get a great price on a new car and this insider info will save you both time and money.

How many hours have you wasted talking about a new car deal, only to find out that the dealer had other contract clauses in mind that exploded the cost? I have wasted entire days in the car buying process.

What does “factory invoice price” really mean? The price that you see on the car is the “manufacturer’s suggested retail price”. You don’t want to pay this over-inflated price. Supposedly, the “factory invoice price” is what the dealer paid the manufacturer for the car. The dealer will have an invoice with this price on it.

When you hear a dealer say that he’ll sell to you “below invoice”, you wonder how on earth he could make any money. You may think that you’re getting the bargain of the century.

Well, not so fast. See, the factory invoice price probably isn’t what the dealer had to pay for the car.

Dealers get all sorts of incentives on top of this base price. Carryover allowances and other special discounts added in make the actual cost of the vehicle less than the price on the invoice. This can add up to the tune of $500-$2000 dollars.

So you could buy a car at $100 below the factory invoice and still be fattening the salesman’s wallet more than enough.

Ask if the car manufacturer offers a factory-to-customer rebate. You have to get this straight from the manufacturer, but every little bit helps!

The more you know about factory-to-dealer incentive payments, “holdbacks,” and other allowances the dealer will receive, the better off you’ll be. Do your research so you’ll know the best prices cars like yours have recently been selling for.

Now, you don’t want to get a great price on a car, and then lose out by paying too much for financing, for an extended service contract, and for unnecessary add-ons.

Also, check to see what the market value is of your current car if you’re considering a trade in. Don’t talk about a trade in until you have agreed on a price.

Before going car shopping, check the annual percentage rate currently offered by banks in your area. Sometimes credit unions offer good rates.

Many new cars are very reliable and often carry long manufacturer warranties. An extended service contract may be a waste of your money. If you do want one, make sure you check over it with a fine-toothed comb to see what it covers and what it doesn’t. Nothing like being surprised by a repair bill.

If your car already has rust-proofing, paint sealant, or fabric protection, make sure you don’t end up paying more than $50 for it. Any more than that will be pure profit and mark up.

A good deal on your new car can be negated if you get a lousy price on your trade-in. Go ahead and take your car to a few dealerships beforehand and ask what they’d pay you for it straight out. Explain that you’re selling your car and getting offers from different dealers.

If the dealership where you’re buying offers you a ridiculously lower price, you may as well sell your car outright to one of the dealers you checked with.

You do want to get the true wholesale value for your trade-in. A dealer who offers some extraordinary trade-in allowance is likely making it up on the new car price.

It takes a little extra time to ensure a great deal on your new car, but your savings can be substantial. You just might find the whole process fun!

Feeling the Need for Speed

Getting a sports car is an investment since it involves a lot of money. If the person has enough money to buy one, then there are other things that a person can think about before driving it off the dealer’s lot.

• Sports cars usually have only two-seats. If you want to have more than one passenger then you must choose another style of car.

• Cars come with different transmissions that can be from 5 to 6 speed or automatic. If you do not mind stepping the pedal then a stick shift will do just fine, however if you find this to be inconvenient especially in traffic, then choose a car with an automatic transmission.

• Sports cars are built for speed and not comfort. If you decide to add a little comfort when driving the vehicle with friends, then the location of engine is another deciding factor before buying.

• A sports car is an expensive one that is two or three times more expensive than a regular car. If there is the possibility that you might lose interest in a sports car, then it is best to purchase a different style of vehicle available in the market – one that will retain it’s resale value so that you are not spending your money for just a ‘new toy’.

• Since there are many brands of sports cars that are made locally and/or imported, it is best to test drive a vehicle to check how much horse power the car will have, or you desire, for the value before choosing that particular sports car…

• Doing some research will help you get the best deal possible. You can do this by surfing the internet or going to a dealership for brochures. Auto magazines can also provide useful information to assess a vehicle’s performance, technical specifications and reliability.

• The Insurance Institute for Highway Safety has data on crash tests for certain vehicles. You can check with this office to ascertain the reliability of the car you are considering.

The sports car is truly one toy that is for the ‘big boys’. Finding one will take some time but it will all pay off when you are finally driving it.