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Car Purchasing Advice from Millionaires: Buy Used

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Have you been thinking about purchasing a new car? It’s tempting when there’s countless commercials, magazine ads, and promotions showing off the latest models in style and features. But in order to afford a new car, most people are going to finance the cost with a combination of a down payment, trade-in, and years of monthly payments.car purchase tips des moines iowa

But if you can avoid financing a car, you should. That’s what authors Thomas J. Stanley and William D. Danko discovered in their book The Millionaire Next Door: The Surprising Secrets of America’s Wealthy. They interviewed dozens of ordinary people who amassed at least a million dollars in wealth through hard work, smart investments, and frugal living.

In their quest to uncover the habits of self-made millionaires, they found that many intentionally bought used cars for years instead of making payments on a new one. It’s a novel concept that can save you a lot of money.

Car Repairs and Regular Maintenance Can Save You Money

Buy used and pay cash. Take good care of the car with regular maintenance and necessary repairs. Save some money. After a couple of years, trade-up for another used car with your trade-in and cash to cover the cost. It’s one of the ways people with ordinary jobs in The Millionaire Next Door were able to save a lot of money and eventually drive their dream car.

If you’re driving an older car that has a few issues, you might be tempted to get rid of it and buy a new-off-the-lot car. But in most cases, it’s going to cost a lot more in the long run to buy a new car than to keep your used car up and running.

Have a used car that needs a little help? Basic maintenance like regular oil changes and replacing the brakes, belts, and air filters can prolong the life of your car. Keeping up on routine maintenance can help prevent more costly repairs and save you money over time. In The Millionaire Next Door people used that extra money to save and make smart investments instead of making monthly car payments.

Want to get the most mileage out of your car? We can help. A full-inspection can identify any issues and routine maintenance will keep your car running longer, smoother, and more efficiently, and cost you less money over time. Give us a call at 515-423-8185 or click here to schedule an appointment.

5 Essentials for Planning Your Next Road Trip

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It’s been a week since kiddos in the Des Moines area said goodbye to another school year. That means it’s officially summer vacation. More people hit the road in cars, trucks, and motor-homes during the summer season than any other time of the year.summer road trip tips iowa

In fact, Americans take an estimated 657 million road trips during the summer months from Memorial Day to Labor Day, according to the U.S. Department of Transportation. The typical vacationer drives their own car to a destination about 284 miles away for a little R&R. The survey results showed that 9 out of 10 vacation road trips are taken by car.

If you’re planning a summer road trip, it’s a good idea to get a tune-up before you go. Regular and preventive maintenance can give you peace of mind and prevent a break-down that could throw a wrench into your vacation plans. Once your car’s ready for the road, be sure to bring these five things along on your road trip.

  1. Emergency kit. Keep some basic tools and set of jumper cables in your car. And make sure you’ve got a first aid kit stocked with Band-Aids and other essentials to treat minor aches, pains, cuts, or scratches.
  1. GPS system. If your car doesn’t have a built-in system, use your smartphone or a stand-alone GPS device. Being able to find your way from Point A to Point B, and all the places in between without getting lost can lower stress and make your vacation more relaxing and enjoyable.
  1. Food and water. You don’t need to pack like you’re never coming back. But having a little extra food and water on board is a good idea. You won’t have to stop as often. If there aren’t any restaurants for long stretches, you’ll still have something to eat and drink. And if you plan it right, you might even save money eating your own food instead of going out to eat when you’re on the road.
  1. Extra keys. A magnetic key box you can hide under your car, or just an extra key you keep in your wallet can save the day if you lock yourself out of your car. It happens. Sure you could call a locksmith, but that will mean waiting around and forking over some extra money you probably didn’t plan on spending for your vacation.
  1. Cell phone and charger. Love it or hate it, having a cell phone when you’re on a road trip is a good idea. You’ll be able to call for help if something happens. And it will make it easier to check in with family and friends when you’re on the road.

Start planning your road trip by getting your car serviced before you go. We can help. Give us a call at 515-423-8185 or click here to schedule an appointment.