Buying used? How to avoid getting bitten by repair costs

(ARA) – If your old clunker is gasping its last, you might think (like millions of other Americans these days) you can save yourself some money by buying a used car instead of a new one. You can — if you make smart buying decisions. Hasty or unwise used-car buying can end up costing you much more in the long run.

As new car sales have crashed, purchases of used cars continue to rise, according to many news reports. In March, PBS reported that dealerships sold more than 2 million used cars in recent months, about 25 percent higher volume than you would expect in a healthy economy. The math behind the trend is simple: new cars cost more than used, depreciate faster and are generally costlier to insure, so more Americans are buying used to save money.

But what about repair expenses? If you buy a used car for $15,000 and it costs you $5,000 in repairs in the first year, have you really saved? To ensure you’re buying a used vehicle that won’t turn into a money pit, follow a few simple steps:

Early in the Process:

Repairs are a reality of used car buying. As vehicles get older, they begin to need more maintenance and repairs. Some newer model used vehicles may still have some factory warranty left, but older models usually do not. An impending need for repairs, however, may not necessarily be a deal-breaker if you find out ahead of time how much those repairs might cost and budget appropriately.

You probably already have a few makes and models in mind. Before you settle on one, compare the cost of the parts needed for the most common repairs and maintenance. One model may have a sales price that’s $5,000 less than another you’re considering, but if the cost of parts is 20 or 30 percent higher than parts for another vehicle, the higher priced model might actually be a better deal.

Turn to resources like RockAuto.com to compare parts prices. The site’s Repair Index automatically pulls prices from the company’s vast auto parts catalog based on year, make, model and type of part. It’s a quick, easy way to compare parts costs for different models and the results can be surprising.

For example, you might think a Chevy Metro is an economical car, but parts for one can be expensive, according to RockAuto, which sells parts for an average 20 to 60 percent less than other parts dealers. The bulk of the company’s business is selling parts direct to consumers, so it’s possible to save even more money by buying parts directly and doing repairs yourself. Visit www.RockAuto.com to learn more.

Next, check the repair history for a particular make and model from a credible source like Consumer Reports. The independent ratings organization maintains a huge database of information on virtually every make and model vehicle available in America. Actual owners and drivers contribute the information based on their experiences with a particular vehicle.

Once You’ve Narrowed it Down

When you find a vehicle you’re interested in, check the repair history and maintenance for that specific car. Pull a vehicle history report from a third-party source like CarFax, which will generally list major (reported) maintenance and accidents. The report can also help you spot discrepancies in odometer readings, if the vehicle has been used in an area prone to flooding, or if it’s been rebuilt after being in an accident so severe it was declared a total loss.

Never buy a used car until you’ve had it checked by your own mechanic – not even from a dealership that offers “certification” on its used vehicles. If a seller isn’t willing to let you take the vehicle to your mechanic, walk away.

Finally, consult your insurance agent to see how much it will cost to insure the vehicle. A used car that actually increases your annual premium may not be the great deal you thought it was.

Courtesy of ARAcontent

Budget conscious Americans are dining in — in style

(ARA) – As the economy took a downturn, there was a major shift in how Americans shopped and entertained. ‘Nesting’ made a comeback, and as such, dining out has been replaced with invitations to friends and family to dine in.

And, while we’re looking for ways to cut spending and save money, we still want to keep our decor — in the kitchen and on the dinner table — fresh, modern and fun for everyday and the occasional soiree.

There are several ways to wow party goers and stay within your budget. You can repurpose the plates you have or purchase a couple of inexpensive but key pieces like linens and silk flowers to create an entirely different look. Before you do anything, however, take stock. This season’s dining decorating trend may already be in your cupboards.

Urban elegance
This year, lemongrass is making the statement. Incidentally, Michelle Obama chose to wear the color on her husband’s inaugural day.

In an urban-inspired decor, this chartreuse-like shade is the color that gets attention and leaves a lasting impression. “It says ‘optimism, vibrancy and cheerfulness,’” says Ed Wonder, director of design for Fiesta Dinnerware, an iconic American brand. “Throughout history, when our country is in turmoil, we’ve often looked to bright colors to lift our spirits.”

Consider adding a few pieces in this contemporary color to each place setting, either a solid napkin or bud vase holding a single fresh orchid. If you already have chocolate- or ivory-colored china, mix in lemongrass-colored serving platters and bowls; the three-way color combo sets the stage for a metropolitan meal.

To make guests gasp, go bold with the colors of lemongrass, black, white and several shades of purple.

Bohemian but chic
The bohemian lifestyle is all about collecting pieces over time, mixing and matching similar with dissimilar items, and creating a feeling of overall freedom. With that said, almost anything goes. So, don’t rely on a standard ’set’ of dishes to enhance the dining experience. The key is to mix different shapes — like round dinner plates with square bowls — as well as sizes, colors and patterns.

Fiesta recently introduced square dishes to its nearly 75-year-old signature circular design. The layering effect achieved when the two shapes are combined not only adds dimension, but a bit of playfulness to the setting.

Most importantly, be unconventional with your color and pattern choices. Mix brights with earth tones, like Fiesta’s peacock and tangerine with chocolate and evergreen dinnerware. And, incorporate decorated glassware, cups and saucers and dessert plates — in any pattern, even paisley — with solid pieces.

The good news is you can achieve ‘bohemia’ without breaking the bank. Purchase one or two new, but inexpensive, pieces that you can add to your everyday dishes, like a set of square bowls to layer with round designs. Or add chargers in a shade that acts as an accent to the current color scheme.

Your best bet is to raid your grandma’s boxed up dishes in the basement or scout out bargains at local antique stores and garage sales.

Patriotic plating
What better way to show your patriotism than with dinnerware in the colors of the flag, and made right here in the U.S.A?

Fiesta offers its scarlet, cobalt and white (or ivory) dinnerware. Chances are, you already have a set of white or ivory everyday dishes (the top colors on bridal registries), so you can easily add splashes of scarlet and cobalt without spending lots of your hard-earned cash.

A simple table runner, flatware and a few large vases in all three colors, and you are all set to celebrate the blessings in life and support your country on July 4, Labor Day, or any day of the year.

A unisex tabletop
For a serious, sophisticated dinner setting that appeals to both ‘him’ and ‘her,’ turn to colors that mimic menswear. Choose dinnerware in the following color combinations: black, evergreen, marigold and white, or black, chocolate, cobalt blue and ivory.

Consider covering the table with a herringbone, houndstooth or plaid tablecloth. This doesn’t have to be a designer label; buy the fabric by the yard at a local arts and crafts store.

Place stacked settings — charger, dinner plate, salad or fruit bowl — on top of leather placemats. Use solid napkins, but in a bright accent color to soften the look for female guests. Tangerine works well with chocolates, as does a sunflower shade.

Whatever your design preference is for the season, be it urban, bohemian, patriotic, or more masculine, you can be a trendsetter and achieve these looks on a budget.

Just combine a few new pieces, dishes you already have, and a little creativity.

Courtesy of ARAcontent

Smart ways summer travelers can cut hotel costs

(ARA) – How does your family plan to save money on summer vacation this year?  Driving rather than flying?  Maybe carrying all the items you need instead of renting once arriving at your destination?  These are all great ways to save!  But how do you cut back on one of the biggest, yet totally necessary costs of travel – accommodations?

After airfare (which many travelers are eschewing in favor of less costly motoring), accommodations can be the largest cost associated with summer travel. Short of staying with nearby family (too much togetherness for some of us) or popping a pup tent at the local campground (roughing it isn’t for everyone), how can you cut accommodation costs?

Here are a few helpful hints for both families and business people traveling this summer:

* Stick with a suite deal – If you’re traveling with more than three people in your party, there’s a lot to be said for staying in a suite, from both a cost and comfort standpoint. Suites offer room for larger parties and one suite in a quality hotel can be more cost-effective than booking multiple rooms in a budget property.

Factor in the free extras that come with a suite at a quality brand like Embassy Suites, and the savings can add up further. You’ll save money on food and beverage at Embassy Suites because they offer a free cooked-to-order breakfast every morning and your favorite beverages at an evening Manager’s Reception.

* Timing is everything – If you’re traveling on business, you may not have much flexibility on timing. Still, it’s wise to avoid traveling to a destination during a well-attended festival or event – unless, of course, your business is connected to the event. For leisure travelers, a wiser course might be to choose your destination based on attractions and proximity to home, and then book travel during times when demand is likely to be lower.

Every destination has a “shoulder season” – a time when fewer people are looking to book rooms. Check with the hotel you’re interested in, or the area convention and visitors bureau, to find out when lower demand times occur. You can sometimes save substantially by traveling at those times.

* You’ve earned your rewards – Sign up for travel rewards programs. Look for programs that allow you to move points between accounts. For example, some airlines and hotel chains have programs that award you extra points for traveling with their partners or allow you to apply their points toward travel with their partners. Your points accumulate value faster with these types of programs.

* Shop smart – Comparison shopping is easier than ever thanks to the Internet. Numerous Web sites allow you to quickly find great deals, check out nearby attractions and even create a full travel itinerary. Once you’ve found a great online deal, don’t hesitate to pick up the phone, call the hotel and ask someone there if they can do better than the advertised online rate. If they can’t lower the rate, they may be able to throw in some extra incentives like discount coupons to nearby attractions or even a complimentary meal in the hotel’s restaurant.

To learn more about how to save on accommodations and get a “suite deal,” visit www.EmbassySuites.com.

Courtesy of ARAcontent

Summer travel tips

(ARA) – With the summer travel season upon us, people are looking for ways to have fun and get the most out of their trip, while staying within budget.

Kevin Harvick, driver of the No. 29 Shell-Pennzoil car and co-owner of the Kevin Harvick Inc. race teams, spends a lot of his time traveling from racetrack to racetrack. Throughout the years, he’s gained a lot of knowledge and experience in managing his travel budget.

“We are on the road at least 34 weeks out of the year, so keeping travel costs down is imperative to keeping a balanced budget, but it’s not always just about finding the lowest price,” said Harvick. “There are a lot of different things we do to get the most out of every dollar, from planning travel routes and fuel stops ahead of time, to performing regular maintenance on the haulers and using payment options that help save money.”

One example is the Shell Saver Card(SM), where drivers can save five cents per gallon on Shell fuel purchases through June 30 and two cents after that. Plus, the card links directly to a checking account so it doesn’t impact consumer credit scores.

Another thing to keep in mind when traveling is that using high-quality gasoline helps protect and clean critical engine parts, which helps drivers get the most out of every drop. Harvick also recommends using the Shell FuelStretch tips.

“Practicing the FuelStretch tips helps conserve fuel, save money and stay within budget without sacrificing quality,” said Harvick.

* Drive smoothly
Avoid heavy acceleration or braking. Speeding, rapid acceleration and braking can lower your gasoline mileage by 5 percent at lower speeds around town and by 33 percent at highway speeds.

* Keep your engine well-tuned and repair any problems immediately
If your car has failed an emissions test or is noticeably out of tune, repairing the problem could improve your gasoline mileage by 4 percent on average.

* Make sure tires are not over or under-inflated
Proper air pressure cuts down on fuel used while driving. Keeping tires at the correct pressure can improve gasoline mileage by more than 3 percent.

* Minimize vehicle drag
Keep your trunk and back seat clear of unnecessary items that only add weight. Removing excess weight can improve your gasoline mileage.

* Use the recommended grade of oil in your engine
Following your manufacturer’s motor oil recommendation can improve gasoline mileage by up to 2 percent.

* Choose a high-quality gasoline
Top automakers say that carbon deposits can build up on critical engine parts, which can decrease the power, performance and fuel efficiency of your vehicle and recommend using TOP Tier Detergent Gasolines. All Shell gasolines meet TOP Tier standards and stop gunky build-up on critical engine parts to help vehicles perform at their best.

* Use cruise control on major roads and in free-flowing traffic
Maintaining a constant speed can improve gasoline mileage.

* Avoid idling
When you idle, you get zero miles per gallon.

* Avoid higher speeds
Gasoline mileage usually decreases when driving at speeds over 60 miles per hour.

* Plan your outings to avoid separate trips
Combine your errands into one outing to avoid short separate trips.

* Use payment options that save money
Payment cards offer a simple way to pay for things quickly, but they can also save you money.

For more information on the FuelStretch tips and saving money with a Shell branded card, visit www.shell.com/us.

Courtesy of ARAcontent

Looking for ways to save? Work with your bank

(ARA) – The economic health of the country is all over the news, and people everywhere are worried about layoffs, retirement savings and the state of their financial affairs. An unemployment rate above 8 percent has everyone looking over their shoulders and counting their pennies. If you’re worried about what to do if you lose your job or just looking for ways to save money, your first step should be to talk to your bank about how you can make the most of your banking relationship.

Here are some simple tips to help you make the most of your money and utilize all the financial tools available to you:

* Keep track of your money and every dollar you save with services like online banking and alerts. Banks offer alerts to help you prevent unnecessary fees and to give you added protection in case irregular account activity is detected on your account. Use online bill pay services wherever you can to help pay bills on time and avoid late fees.

* Look for easy ways to save. Bank of America’s Add It Up program is a free online shopping Web site that rewards customers with up to 20 percent cash back on everyday purchases. If you need to make a purchase, look online for good deals (that often come with free shipping). With the Add It Up program, when you pay with your Bank of America debit or credit card, you can track your savings online and get cash back to the account of your choice. Remember to use online price comparison sites to find savings as well.

“We’re here to help,” says Matt Boss, senior vice president, mass market customer segment for Bank of America. “We have several ways to help consumers get the most from their money — from innovative cash back programs like Add It Up to easy-to-use tools that show people how to keep track of every dollar.”

* If you’re in your 20s, 30s or 40s, hang tight. Keep making contributions to your 401(k) account and speak with your financial advisor about how to safely balance your investments. Keep in mind that you’re investing in retirement for the long term and try not to panic about day to day numbers or stock market fluctuations.

* If you do lose your job, talk to your bank right away to find out which customer assistance programs are available to you. For example, Bank of America will waive monthly maintenance fees and refund non-sufficient fund and overdraft fees if you lose your job.

* Take advantage of the services your bank offers like rolling over your IRA. The bank can help you maximize your investments at a time when you need it most.

“Especially now, when budgeting matters more than ever, your bank can provide immediate opportunities with saving and spending that really add up and assist customers in managing their finances in the long run,” says Boss.

During difficult financial times, your bank can be there to help. You can start by making a reasonable budget, sticking to it and taking advantage of the financial tools available to help you manage your finances.

For more information, visit www.BankofAmerica.com.

Courtesy of ARAcontent