When buying a new or used car from a dealership, you can often be hit by the sales person with “extras” that they’d like you to purchase.  The sales person earns extra commissions from these “extras” and will often try to hard sell you on them.

One “extra” in particular that you really ought to ask yourself if you really need is the “Auto Service Contract,” sometimes referred to as an “Extended Warranty.”  We’d all like to protect ourselves from unexpected or unforeseen costly repairs that might not be covered by the manufacturer warranty, but there is a cost to this - and sometimes it just might not be worth the risk.

When offered an Auto Service Contract or Extended Warranty, you should examine the offer and ask some questions:
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So you’ve decided that purchasing a used car is the best use of your money at this time. You realize that as soon as you drive a brand new car off the lot, it’s just depreciated by 20%. And there’s a ton of decent used cars around.

I personally have never purchased a new car even though I am 45 years old. The most I’ve ever spent on a car is $6,000.00. I’ve purchased big used cars and small used cars. My most recent purchase of a used car was over 6 years ago, when I picked up a shiny 1989 Cadillac DeVille - for $3,000.00 Canadian, on the road. (more…)

Although as I write this, fuel prices are fluctuating up and down, but we’ve just been through a period where we’ve seen the price of gasoline in North America reach all time highs, and seemed to be heading north. Although the oil market is depressed at the minute, who can doubt that at some point in the future, gasoline prices at the pump will surely sky rocket again?

With the uncertainty about the price of fuel, many are considering and talking about the Hybrid Car. (more…)