Why You Should Buy Yourself a Car for Christmas

If you’re in the market for a screen-shot-2016-12-02-at-11-29-52-amnew vehicle, get serious about shopping now. December tends to deliver the deepest discounts of the year, with buyers receiving an average 7.7% off MSRP, TrueCar.com finds—vs. 6.8% in January, for instance. For an average buyer, that’s more than $300 in savings.

Why December? “Dealers and manufacturers are looking to meet their annual sales goals, so many offer rich incentives,” says TrueCar senior analyst Cari Crane. Meanwhile, prices are slashed on 2016 vehicles as next year’s models move onto the lot, says Brian Moody, executive editor at Autotrader.com. Follow these steps to drive down the price of your new vehicle.

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7 Terms to Know Before Buying Auto Insurance

Next to your home and your office,red_car_in_hands your car is probably where you spend the greatest amount of time—and it’s likely one of the things you pour the most money into. Between the costs of routine maintenance, repairs and trips to the pump (is it time to buy an electric car yet?), being a car owner requires an investment—not the least of which is the auto insurance you’re required to buy.

But not all policies are created equal—and, put simply, “Consumers need to understand the terminology of car insurance to shop for and compare policies and coverage,” says Jeff Blyskal, auto insurance expert and senior editor at Consumer Reports.

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Trim Your Car Costs

If your household is like most,160329_PLA you probably have two or three vehicles in your driveway: one for yourself, one for a spouse, maybe one for a teen. Indeed, 57% of U.S. families own two or more cars, KPMG found. Between gas, maintenance, fees, and insurance, the average cost to owners was $4,375 per vehicle in 2015, AAA found—even while fuel prices plunged. That’s money that you could be using for family trips or retirement planning. (The cash you’ll get by selling won’t hurt either.)

Abandoning car ownership altogether might not be practical. But eliminating even one vehicle could pay off for many families. Follow these steps to calculate whether you would benefit by cutting back.

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