Insurance could be very important to your complete financial portfolio. Before I researched into this sector, I"ve always regarded insurance for those who are old and sick, or mandated by law. But the more knowldge I gained regarding the sector, I found that it could be an very important element to your portfolio. I will try and explain why that is, and list them out for you in simple bullet point summaries below.
The insurance decisions you make should be based on your family, age, and economic situation. There are many forms of insurance and, unfortunately, no one-size-fits-all policy. Life insurance, for example, is a virtual necessity if you have a spouse and children, but perhaps is less important for a single person. Disability insurance, which provides an income stream if you are unable to work, is important for everyone.
Auto Insurance
Auto insurance protects you from damage to the often considerable investment in a car and/or from liability for damage or injury caused by you or someone driving your vehicle. It can also help cover expenses you or anyone in your car may incur as a result of an accident with an uninsured motorist.
Auto liability coverage is necessary for anyone who owns a car. Many states require you to have liability insurance before a vehicle can be registered. However, state-required minimum coverage often does not provide adequate protection. Suggested minimums are $100,000 for medical expenses per injured person, $300,000 for the total per accident, and $50,000 for property damage. Collision, fire, and theft coverage is also advisable for a vehicle having more than minimal value. You can cut costs, however, by choosing a higher deductible -- the amount of loss that must be exceeded before you are compensated.
The cost of auto insurance varies greatly, depending on the company and agent offering it, your choice of coverage and deductible, where you live, the kind of vehicle, and the ages of drivers in the family. Substantial discounts are often available for safe drivers, nonsmokers, and those who commute to work via public transportation.
Homeowner's Insurance
Homeowner's insurance should allow you to rebuild and refurnish your home after a catastrophe and insulate you from lawsuits if someone is injured on your property. Coverage of at least 80% of your home's replacement value, minus the value of land and foundation, is necessary for you to be covered for the cost of repairs. There are several grades of policies, ranging from HO-1 to HO-8, with increasingly comprehensive coverage and cost. Unless you increase coverage, most homeowner's policies cover the contents of the house for 50% to 75% of the amount for which the house is insured. The liability coverage in many homeowner's policies is $300,000.
Liability Insurance
Often called umbrella liability coverage, this takes effect when the personal liability and lawsuit coverage in other policies is exhausted. The cost for $1 million worth of protection -- especially necessary for high-income individuals and those with considerable assets -- may be only a few hundred dollars a year.
Life Insurance
Life insurance, payable when you die, can provide a surviving spouse, children, and other dependents with the funds necessary to maintain their standards of living, can help repay debt, and can fund education tuition costs. The amount you need depends on your situation. If you make $100,000 a year, have a sizable mortgage, and have two kids headed to an expensive college, you could need $1 million in coverage.
Value-accumulating, but commission-heavy, whole life or universal insurance is often sold as a conservative savings vehicle.
Talk with an insurance agent who offers policies from companies whose financial strength is ranked high by rating agencies. And remember that you can shop around.
Disability Income Insurance
A long-term disability policy is activated, replacing a portion of your lost income, when you are unable to work for an extended period. Some, but certainly not all, employers cover their employees with some form of company-paid disability income insurance. Typically, such coverage is only partial and/or short-term in nature. Thus, many people seek to purchase an individual disability income insurance policy. If you're buying, try to get a noncancelable policy with benefits for life, or at least to age 65, and as much salary coverage as you can afford. However, keep in mind that the duration of coverage may be limited because of your occupation.
Insurers will usually cover up to 65% of your salary. Generally, you should have total coverage equal to two thirds of your current pretax income.
If your company provides disability insurance, check to see whether it's enough for your needs. Group disability insurance policies may be capped at six months and provide benefits that won't cover your expenses.
Health Insurance
Most people enjoy medical insurance as an employee benefit, often with their employers paying whole or part of the premiums. Many employers offer a choice between HMOs (health maintenance organizations) and traditional fee-for-service care. Rates for HMOs are usually cheaper but have more constraints. Privately purchased health insurance is much more expensive -- often by several hundred dollars a month -- depending on such things as deductibles, coverage choices, and location.
Long-Term Care Insurance
With an aging population and uncertainty about the future of Social Security, insurance to cover the high cost of nursing home or at-home health care is becoming more widespread. Medicare pays very little of the cost of long-term care in the United States. Medicaid will pay for the care, but only for patients whose assets are almost completely depleted.
With Congress always debating the future funding of these programs, financial planning for long-term care is more crucial than ever.
Medigap insurance can help pay medical expenses of the elderly not covered by Medicare. However, it doesn't cover custodial nursing home costs. In fact, about half of all nursing home residents pay for the care with personal savings.
Contact a qualified insurance professional or AARP for more information on long-term care insurance.
Summary
Your insurance needs will vary based on your family, age, and economic situation.
Anyone who owns a car should have auto liability insurance. Collision, fire, and theft coverage can protect your investment in a valuable car.
Homeowner's insurance should provide coverage up to 80% of the cost of replacing your home, minus land and foundation. Homeowners should also have liability coverage, and those with considerable assets may want to purchase liability up to $1 million.
Life insurance is important for those who have families to cover living and other expenses in the event of death.
Long-term care insurance can be expensive and complex, but may be a necessity for older people as the long-term coverage of Medicare is often inadequate.
Checklist
Calculate your life insurance income-replacement needs (the amount of money survivors would require in order to maintain long-term financial security).
Make a list of each policy's expiration date. A few months before those dates, start shopping around for better deals.
If your home's value has increased recently, determine its current replacement value and then make sure that your home insurance policy would provide enough money to rebuild.
Shop around for long-term care insurance and disability insurance if you don't have them already.
Monday, August 27, 2007
Friday, August 24, 2007
Spending less - Enjoying more
Whatever the exact level of debt, most Americans will likely benefit from stashing away more cash. How can you maximize your savings?
The only effective way is to know exactly how much money is coming in and going out. Not only can this key piece of information help you save more, it can also reveal whether you're shelling out for things that aren't very meaningful to you. If so, you can spend smarter by using your money for things that will give you more happiness.
Fixed Expenses vs. Fun Money
Start by writing down your monthly take-home pay, after tax, plus any other income, and tracking your expenses for 30 days. Note down all your expenditures -- see the more comprehensive instructions for recording your expenses at the end of this article. At the end of the month, separate each expense into one of the spending categories listed on the next page.
Now total the amount you spent on each category. Then, separate the categories into two groups: Fixed Expenses or Fun Money. Fixed expenses are necessities such as housing, food, heat, and transportation. These can be tweaked -- you can get a roommate to share the rent, wear your coat indoors to cut the power bill, skateboard to work instead of driving. But you have to spend something on your fixed expenses. Fun money is everything else.
Add up your fixed costs and calculate what percentage of your spending is going to life's necessities (instructions on how to do so below). Now look for ways to close these spending sinkholes:
Improve planning: Late fees and fast food bought on the run can be budget killers. Move to paying your bills online to eliminate late fees; consider joining a grocery delivery service such as Peapod to reduce fast-food buys. Cut back on fixed expenses such as gasoline by visiting GasPriceWatch.com or GasBuddy.com before you fill up.
Address fixed-expenses creep: At least once a year, shop around for a better deal on phone service, auto insurance, and homeowners insurance. Check out sites such as LowerMyBills.com for competitive offers.
Keep on top of maintenance: I bought my first car for $300 in college and blew out the engine two weeks later because I didn't realize when the "oil" light went on, you really have to pour a little Pennzoil in there, pronto! Keep your car engine tuned and tires inflated to the proper pressure and save up to $100 a year on gasoline.
Was the Spending Worth It?
Next, look at the Fun Money pile for patterns across categories. Maybe you drop a large chunk of cash on vitamins, yoga apparel, charitable donations, and working with a life coach on how to vaporize your rivals with kindness. Those kinds of activities indicate that perhaps spiritual growth is a strong value.
Or maybe your biggest expenses are theater tickets, foreign movies, fine restaurants, and historical biographies. Entertainment and culture are clearly important to you, so highlight those in a different color. Total up the spending for each category where you see a pattern, and divide by your total monthly outlay.
What does your spending say about your priorities? Did you truly want or need everything you bought? Was it worth it? Divide your weekly after-tax earnings by the number of hours you worked and think about what you earn each hour.
Let's say you take home $14 an hour after taxes (the rough equivalent of a $40,000 a year job). You spend $140 on something -- shoes or electronics or sports tickets -- whatever it may be. You had to work 10 hours to pay for your stuff. Was it worth the energy and the time you invested?
If not, are there spending categories you can reduce and shift the money into more meaningful expenditures? For instance, psychologists say spending time with friends creates more happiness than buying material goods. Instead of dropping $140 on shoes, spend $50 on snacks and drinks and host a memorable poker night. Instead of $60 a month for the gym, start running with a friend.
Bottom line: Before you buy anything, ask: Do I truly value this? By making value-driven decisions, saving will be become a regular part of your life.
The Nuts and Bolts of Tracking Expenses
Start by noting down your monthly take-home pay, after taxes. This is a little trickier if you work on commission, freelance, or get a big yearend bonus. (Do your best to ballpark monthly income based on your previous tax return.) Include any other regular monthly income you receive -- alimony, disability check, interest on investments, and so on.
Then track your expenses for 30 days. Keep a small spiral notepad, a pen, and an envelope handy at all times. Use one page of the notebook per day. Every time you pull out your cash, debit card, credit card, or checkbook to pay for anything, grab your notebook and write down what you spent, to the penny, and what it was for. Save receipts that cover multiple categories of spending in the envelope, because you'll need to separate those purchases into different categories later.
Just start on the first of the month and stop on the last. Don't say, "Well, I pay for everything with my debit/credit card, so I'll just look at my statement at the end of the month." The idea is to feel the visceral reality of the spending, to acknowledge the dollars floating away, and the stuff you need or desire coming into your life.
Be sure to note anything automatically deducted from your checking account (a student loan payment, for example) or regularly billed to your credit card (e.g. a gym membership). For annual or quarterly expenses that don't show up in your 30-day survey, look through your records, find the payment, and break it out monthly. (If you pay $600 a year for auto insurance, add it into your budget as $50 a month.)
At the end of the month, put each expense into one of the spending categories listed below. Get an 8"x10" notepad and write one category at the top of each page, listing all the expenses underneath. Most categories will have multiple expenditures listed, so use a page for each category.
Spending Categories
Rent or mortgage
Utilities:
Heat/electric
Cable
Internet connection
Phone
Cell phone
Water
Garbage pickup
Food
Household supplies/toiletries
Car loan/lease payment
Credit-card payments
Gas
Auto maintenance
Public transportation
Professional services (accountant, lawyer, cleaning person)
Tolls/parking
Home furnishings/yard expenses
Cabs
Student loans
Insurance (Home/renter's, auto, health, life)
Other education costs
Other medical costs (co-pays, prescriptions)
Day care
Exercise/health (gym, etc.)
Clothing/shoes
Entertainment
Dry cleaning
Newspapers/magazines/books/subscriptions
Personal services (hair, nails, etc.)
Gifts
Charitable donations
Savings
Vacations, travel
Postage
Miscellaneous
Now, total the amount you spent on each category. Then, rip out the pages from your notepad and put each page in one of two piles: Fixed Expenses or Fun Money.
Add up your fixed costs, divide by your total expenses for the month, and multiply by 100. That's the percentage of your spending going to life's necessities. Example:
Total monthly spending = $3,400Total fixed costs = $1,530$1,530 divided by $3,400 = 0.45, or 45 percent
A clear and accurate picture of your spending will help you spot the money leaks, make a clear-eyed evaluation of the value of your buying, and make changes to get more happiness from your expenditure.
The only effective way is to know exactly how much money is coming in and going out. Not only can this key piece of information help you save more, it can also reveal whether you're shelling out for things that aren't very meaningful to you. If so, you can spend smarter by using your money for things that will give you more happiness.
Fixed Expenses vs. Fun Money
Start by writing down your monthly take-home pay, after tax, plus any other income, and tracking your expenses for 30 days. Note down all your expenditures -- see the more comprehensive instructions for recording your expenses at the end of this article. At the end of the month, separate each expense into one of the spending categories listed on the next page.
Now total the amount you spent on each category. Then, separate the categories into two groups: Fixed Expenses or Fun Money. Fixed expenses are necessities such as housing, food, heat, and transportation. These can be tweaked -- you can get a roommate to share the rent, wear your coat indoors to cut the power bill, skateboard to work instead of driving. But you have to spend something on your fixed expenses. Fun money is everything else.
Add up your fixed costs and calculate what percentage of your spending is going to life's necessities (instructions on how to do so below). Now look for ways to close these spending sinkholes:
Improve planning: Late fees and fast food bought on the run can be budget killers. Move to paying your bills online to eliminate late fees; consider joining a grocery delivery service such as Peapod to reduce fast-food buys. Cut back on fixed expenses such as gasoline by visiting GasPriceWatch.com or GasBuddy.com before you fill up.
Address fixed-expenses creep: At least once a year, shop around for a better deal on phone service, auto insurance, and homeowners insurance. Check out sites such as LowerMyBills.com for competitive offers.
Keep on top of maintenance: I bought my first car for $300 in college and blew out the engine two weeks later because I didn't realize when the "oil" light went on, you really have to pour a little Pennzoil in there, pronto! Keep your car engine tuned and tires inflated to the proper pressure and save up to $100 a year on gasoline.
Was the Spending Worth It?
Next, look at the Fun Money pile for patterns across categories. Maybe you drop a large chunk of cash on vitamins, yoga apparel, charitable donations, and working with a life coach on how to vaporize your rivals with kindness. Those kinds of activities indicate that perhaps spiritual growth is a strong value.
Or maybe your biggest expenses are theater tickets, foreign movies, fine restaurants, and historical biographies. Entertainment and culture are clearly important to you, so highlight those in a different color. Total up the spending for each category where you see a pattern, and divide by your total monthly outlay.
What does your spending say about your priorities? Did you truly want or need everything you bought? Was it worth it? Divide your weekly after-tax earnings by the number of hours you worked and think about what you earn each hour.
Let's say you take home $14 an hour after taxes (the rough equivalent of a $40,000 a year job). You spend $140 on something -- shoes or electronics or sports tickets -- whatever it may be. You had to work 10 hours to pay for your stuff. Was it worth the energy and the time you invested?
If not, are there spending categories you can reduce and shift the money into more meaningful expenditures? For instance, psychologists say spending time with friends creates more happiness than buying material goods. Instead of dropping $140 on shoes, spend $50 on snacks and drinks and host a memorable poker night. Instead of $60 a month for the gym, start running with a friend.
Bottom line: Before you buy anything, ask: Do I truly value this? By making value-driven decisions, saving will be become a regular part of your life.
The Nuts and Bolts of Tracking Expenses
Start by noting down your monthly take-home pay, after taxes. This is a little trickier if you work on commission, freelance, or get a big yearend bonus. (Do your best to ballpark monthly income based on your previous tax return.) Include any other regular monthly income you receive -- alimony, disability check, interest on investments, and so on.
Then track your expenses for 30 days. Keep a small spiral notepad, a pen, and an envelope handy at all times. Use one page of the notebook per day. Every time you pull out your cash, debit card, credit card, or checkbook to pay for anything, grab your notebook and write down what you spent, to the penny, and what it was for. Save receipts that cover multiple categories of spending in the envelope, because you'll need to separate those purchases into different categories later.
Just start on the first of the month and stop on the last. Don't say, "Well, I pay for everything with my debit/credit card, so I'll just look at my statement at the end of the month." The idea is to feel the visceral reality of the spending, to acknowledge the dollars floating away, and the stuff you need or desire coming into your life.
Be sure to note anything automatically deducted from your checking account (a student loan payment, for example) or regularly billed to your credit card (e.g. a gym membership). For annual or quarterly expenses that don't show up in your 30-day survey, look through your records, find the payment, and break it out monthly. (If you pay $600 a year for auto insurance, add it into your budget as $50 a month.)
At the end of the month, put each expense into one of the spending categories listed below. Get an 8"x10" notepad and write one category at the top of each page, listing all the expenses underneath. Most categories will have multiple expenditures listed, so use a page for each category.
Spending Categories
Rent or mortgage
Utilities:
Heat/electric
Cable
Internet connection
Phone
Cell phone
Water
Garbage pickup
Food
Household supplies/toiletries
Car loan/lease payment
Credit-card payments
Gas
Auto maintenance
Public transportation
Professional services (accountant, lawyer, cleaning person)
Tolls/parking
Home furnishings/yard expenses
Cabs
Student loans
Insurance (Home/renter's, auto, health, life)
Other education costs
Other medical costs (co-pays, prescriptions)
Day care
Exercise/health (gym, etc.)
Clothing/shoes
Entertainment
Dry cleaning
Newspapers/magazines/books/subscriptions
Personal services (hair, nails, etc.)
Gifts
Charitable donations
Savings
Vacations, travel
Postage
Miscellaneous
Now, total the amount you spent on each category. Then, rip out the pages from your notepad and put each page in one of two piles: Fixed Expenses or Fun Money.
Add up your fixed costs, divide by your total expenses for the month, and multiply by 100. That's the percentage of your spending going to life's necessities. Example:
Total monthly spending = $3,400Total fixed costs = $1,530$1,530 divided by $3,400 = 0.45, or 45 percent
A clear and accurate picture of your spending will help you spot the money leaks, make a clear-eyed evaluation of the value of your buying, and make changes to get more happiness from your expenditure.
Rates
Current Mortgage Rates
Loan Type Rate APR
30-yr Fixed
6.17% 6.34%
15-yr Fixed
5.79% 6.07%
5/1 ARM
6.1% 6.99%
Loan Type Rate APR
30-yr Fixed
6.17% 6.34%
15-yr Fixed
5.79% 6.07%
5/1 ARM
6.1% 6.99%
Understanding car leases
Aside from having a new car every few years, a major attraction to leasing is that "you get more car for the same monthly payments," says Robert Haber, a New York City art dealer who is leasing his Lexus RX 330 SUV.
These pluses will seem convincing to many new car shoppers, but to lease successfully, you need to understand the transaction. The concept is simple, but the execution is often highly complicated. When you lease, you pay, in effect, for the loss in value of a vehicle for the three or four years you are leasing it, plus interest on that amount.
How Leases Work
Leasing comes with its own jargon. The most important factor in determining payments is the difference between the starting cost, known as the capitalized cost, and the estimated value at the end of the lease, called residual value. Auto brands that have high resale value, such as Mercedes-Benz, are good candidates for leasing.
Usually the best available lease deal will be the one offered by the manufacturer's captive finance subsidiary (see definition below). They often offer subvented, or manufacturer subsidized, leases, a promotional effort designed to help move certain vehicles. These deals are most common for luxury brands, and typically the residual value will be fixed, as will the interest rate. Thus your only weapon to lower payments is to negotiate down the capitalized cost — just as you would try to lower the purchase price if you were buying the car instead.
Leasing has its pitfalls, as well.
Do’s and Don’ts
Don't sign a lease longer than the warranty on the car. You don't want to be paying for repairs on a car you don't even own. On Ford, General Motors and DaimlerChrysler cars, three-year warranties would call for no longer than three-year leases.
Don't sign a lease with mileage limitations that are unrealistically low for your driving habits. Excess mileage costs at the end of the lease can be very expensive. You will likely save money by negotiating up front for a limit higher than the typical 12,000 miles a year, if you think you will need it.
Do protect yourself against theft or serious collision loss early in the lease. If the vehicle is stolen or totaled, your insurance will pay only the depreciated market value of the car at that time, which may be less than the total you owe on your lease. So-called "gap insurance" will pay you the difference between your insurance settlement and the total amount you still owe on the lease. Most leasing companies offer this coverage, and it is one of the few add-ons that makes sense to accept. Gap insurance as part of the lease usually won't cost you any more than getting it from your insurance agent, and is more convenient.
Do brush up on leasing jargon, so you can be a savvy negotiator.
Leasing Terms to Know
Capitalized Cost: The lease transaction's equivalent of the selling price. Payments are determined largely by the difference between the capitalized cost and the residual value (see below).
Capitalized Cost Reduction: Jargon for down payment in a lease transaction. You can use it as a way to reduce payments if, say, you have the proceeds from selling your old car, or if you are trading in your old car.
Excess Mileage Charge: A penalty for driving more than the mileage allowance in the lease — typically around 12,000 miles a year. To avoid this penalty, make sure your lease has a mileage allowance matching your driving habits.
Captive Finance Companies: These subsidiaries of major auto companies, such as Ford Motor Credit and General Motors Acceptance Corp., make auto loans on the companies' brands. Often they have better rates than those offered by the dealership itself.
Subvented Leases: Subsidized by the manufacturer, these leases are generally designed as promotional efforts to help move vehicles. Often, these can be one of the best deals for the consumer considering leasing as an option.
Residual Value: What the vehicle will be worth at the end of the lease. It may or may not match true estimates of the used car value at that point. When a manufacturer wants to promote leasing of a certain model, it will lower payments by artificially boosting the residual value.
When Does it Make Sense to Lease Instead of Buy?
A choice to lease or buy with a loan is largely one of personal preference and driving habits. If you typically trade for a new car every four years or less, drive less than 12,000 miles a year and keep your vehicle in good condition, you may be a good leasing candidate.
Especially among luxury brands, the best deals are often ones from the company's own finance arm. Because they prefer promotional leases to giving rebates, companies such as BMW, Lexus and Mercedes-Benz often offer leases that have low interest rates, above-market residual values or both. The result is lower monthly payments.
These pluses will seem convincing to many new car shoppers, but to lease successfully, you need to understand the transaction. The concept is simple, but the execution is often highly complicated. When you lease, you pay, in effect, for the loss in value of a vehicle for the three or four years you are leasing it, plus interest on that amount.
How Leases Work
Leasing comes with its own jargon. The most important factor in determining payments is the difference between the starting cost, known as the capitalized cost, and the estimated value at the end of the lease, called residual value. Auto brands that have high resale value, such as Mercedes-Benz, are good candidates for leasing.
Usually the best available lease deal will be the one offered by the manufacturer's captive finance subsidiary (see definition below). They often offer subvented, or manufacturer subsidized, leases, a promotional effort designed to help move certain vehicles. These deals are most common for luxury brands, and typically the residual value will be fixed, as will the interest rate. Thus your only weapon to lower payments is to negotiate down the capitalized cost — just as you would try to lower the purchase price if you were buying the car instead.
Leasing has its pitfalls, as well.
Do’s and Don’ts
Don't sign a lease longer than the warranty on the car. You don't want to be paying for repairs on a car you don't even own. On Ford, General Motors and DaimlerChrysler cars, three-year warranties would call for no longer than three-year leases.
Don't sign a lease with mileage limitations that are unrealistically low for your driving habits. Excess mileage costs at the end of the lease can be very expensive. You will likely save money by negotiating up front for a limit higher than the typical 12,000 miles a year, if you think you will need it.
Do protect yourself against theft or serious collision loss early in the lease. If the vehicle is stolen or totaled, your insurance will pay only the depreciated market value of the car at that time, which may be less than the total you owe on your lease. So-called "gap insurance" will pay you the difference between your insurance settlement and the total amount you still owe on the lease. Most leasing companies offer this coverage, and it is one of the few add-ons that makes sense to accept. Gap insurance as part of the lease usually won't cost you any more than getting it from your insurance agent, and is more convenient.
Do brush up on leasing jargon, so you can be a savvy negotiator.
Leasing Terms to Know
Capitalized Cost: The lease transaction's equivalent of the selling price. Payments are determined largely by the difference between the capitalized cost and the residual value (see below).
Capitalized Cost Reduction: Jargon for down payment in a lease transaction. You can use it as a way to reduce payments if, say, you have the proceeds from selling your old car, or if you are trading in your old car.
Excess Mileage Charge: A penalty for driving more than the mileage allowance in the lease — typically around 12,000 miles a year. To avoid this penalty, make sure your lease has a mileage allowance matching your driving habits.
Captive Finance Companies: These subsidiaries of major auto companies, such as Ford Motor Credit and General Motors Acceptance Corp., make auto loans on the companies' brands. Often they have better rates than those offered by the dealership itself.
Subvented Leases: Subsidized by the manufacturer, these leases are generally designed as promotional efforts to help move vehicles. Often, these can be one of the best deals for the consumer considering leasing as an option.
Residual Value: What the vehicle will be worth at the end of the lease. It may or may not match true estimates of the used car value at that point. When a manufacturer wants to promote leasing of a certain model, it will lower payments by artificially boosting the residual value.
When Does it Make Sense to Lease Instead of Buy?
A choice to lease or buy with a loan is largely one of personal preference and driving habits. If you typically trade for a new car every four years or less, drive less than 12,000 miles a year and keep your vehicle in good condition, you may be a good leasing candidate.
Especially among luxury brands, the best deals are often ones from the company's own finance arm. Because they prefer promotional leases to giving rebates, companies such as BMW, Lexus and Mercedes-Benz often offer leases that have low interest rates, above-market residual values or both. The result is lower monthly payments.
Subscribe to:
Posts (Atom)