Taxes : Buying a New Sports Car - Twelve Tips To Avoid Financial

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Buying a New Sports Car - Twelve Tips To Avoid Financial Sticker Shock   Nothing (well, almost nothing) can compare to the thrill of driving a road-hugging high performance sports car. Instant steering response. Power at the exact nanosecond you ask for it. Then, if you have one of the sexier models, you'll attract attention on the road, filling up, and in the shopping mall parking lot. Yes, you can pretend you're driving the Autobahn with the wind blowing your hair. But beware of state troopers just waiting for an “arrest me red” entry on their ticket issuing track record. Before You Fall In Love . . . Before you step into that showroom and fall in love, consider the following practicalities: 1) How much do you want to spend? $20,000? $30,000? Or more? 2) What's the tradeoff between performance (power) and gas mileage? Higher performance usually equals less gas mileage. Does the vehicle use premium gas? Right now, the difference between premium and regular is 20 cents per gallon. At 20 miles per gallon and 15,000 miles per year, the cost differential is $150. 3) What about reliability? Some upscale models cost considerably more to maintain and have a higher incidence of repair costs. Would you appreciate paying $125 just to diagnose the problem when the check engine light comes on? Or paying $70 for an oil change? 4) In a climate where snow and ice are winter realities, do you want to drive it year round? Or store it over the winter? A rear wheel drive sports car is impractical for winter driving. A front, all-wheel, or 4-wheel drive sport car can be driven in snow and ice, if you use all-season tires. If the little devil comes with performance tires, you will want to buy all-season tires (and possibly rims) for winter driving. Add another $1500 to the price of the car for the right tires and rims. Do Your Homework . . . 5) Once you've decided price, performance, gas mileage, reliability, and practicality for all-season driving, get on the Internet. Here you can compare models and pricing and read reviews. Google “buying a new car” or “new car prices” and several sites will pop up. Another source is Consumer Report (the new car issue) where your criteria will be easy to find. Red dots are good. Black dots are not. Most American car dealers consider this issue of Consumer Report a nightmare because it favors foreign car models, especially Asian cars. However, as explained in the newest version of this report, American car manufacturers are catching up. 6) Find out what you should pay before stepping into a showroom. Dealers will offer below invoice prices even on some sports cars because of rebates, dealer incentives, and dealer returns when they make a sale. 7) Remember the incidentals. Yes, you have to pay to transport the vehicle from the manufacturer. Yes, you have to pay for options. And remember the sales (and sometimes luxury) tax. The Driving Experience . . . 8) Unless you have driven the exact model and year you want to purchase, step into the showroom and test drive the car. Driving the previous year's model is unacceptable. If the dealer lures you into his web and asks you to test drive an earlier model, RUN out of the show room. You're wasting your time. 9) Pick at least 2 different road types for test driving. The winding, hilly road is one road type. Road hugging capabilities are tested here. If the car is standard, smooth-shifting is another test. A car that cuts back after you release the clutch is NOT smooth shifting. The highway is another road type. Make sure power is sufficient to handle entrance ramps and merging with traffic. If you get an instant response at highway speeds, the car is a possible winner. Closing the Deal . . . 10) If you like the car, get the dealer's best quote. Then, find at least one other dealer to give you another quote ON THE SAME CAR. If you don't like the car in the test drive, you probably won't like the car - ever. Move on to the next model. 11) When you decide on a car, call your insurance company and find out what the vehicle will cost per year. And don't choke on your coffee when you hear the amount - you can shop around. 12) Estimate how much the real estate taxes will be on the car, especially if it's a high-priced model. This could be another financial shocker! As you can see, sports car buying is a process. Do you need to do all this stuff? Nope, you don't. But consider the financial sticker shock when you're paying an extraordinary amount for maintenance, repairs, gas, insurance, and taxes! Just for that Autobahnesque experience! About the Author Valerie Mills, a copywriter/designer specializing in direct mail and web advertising, has written sales letters, web sites, and brochures for the finance, self-help, and technology areas. Refer to web sites http://v.mills.home.att.net and http://teachyourkidsaboutmoney.com

table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHOzr73JRoTmWmPpsmy7QE2sbaKaAamp;url=http://www.latimes.com/business/la-fi-amazon-sales-taxes-20120520,0,4308210.storybAmazon poised to get a cut of California sales btaxes/b/b/abr /font size=-1bfont color=#6f6f6fLos Angeles Times/font/b/fontbr /font size=-1Eager to host Amazon warehouses and receive a cut of the btax/b on sales to customers statewide, two California cities are offering Amazon most of the btax/b money they stand to gain. Workers push carts full of merchandise at an Amazon fulfillment center in b.../b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ned=usamp;ncl=de96QlKkQbtcsDMnobrb/b/nobr/a/font/div/font/td/tr/tabletable border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEp_sL8PUx-HBVsvixQRDi-EJAeuAamp;url=http://www.kansascity.com/2012/05/17/3616314/senators-take-aim-at-facebook.htmlimg src=//nt0.ggpht.com/news/tbn/iP5V8DJvALDvUM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2Kansas City Star/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHlzajdrOPCum7ldZTWeckfjSL7iAamp;url=http://mashable.com/2012/05/19/facebook-taxes-international/bWill Facebook Reduce bTaxes/b By Going International?/b/abr /font size=-1bfont color=#6f6f6fMashable/font/b/fontbr /font size=-1Will Facebook follow in his footsteps by funneling money through international subsidiaries to maneuver around the American btax/b code? The recently-gone-public social network could set up small satellite officies in countries with comparatively low btax/b b.../b/fontbr /font size=-1a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNE_t0mXrJdb7f6P9oT0mLGWt0C6oQamp;url=http://www.latimes.com/business/la-fi-facebook-saverin-20120518,0,3552793.storyTwo senators want to stop Facebook#39;s Saverin from dodging btaxes/b/afont size=-1 color=#6f6f6fnobrLos Angeles Times/nobr/font/fontbr /font size=-1a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEp_sL8PUx-HBVsvixQRDi-EJAeuAamp;url=http://www.kansascity.com/2012/05/17/3616314/senators-take-aim-at-facebook.htmlSenators take aim at Facebook co-founder, who will skip btaxes/b by renouncing b.../b/afont size=-1 color=#6f6f6fnobrKansas City Star/nobr/font/fontbr /font size=-1a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNF6QeKZq_hc3FqsxQHXIPE8kGt89Aamp;url=http://www.bostonherald.com/business/technology/general/view.bg?articleid%3D1061132325%26srvc%3Dbusiness%26position%3DrecentSenators want to stop Facebook co-founder from dodging btaxes/b/afont size=-1 color=#6f6f6fnobrBoston Herald/nobr/font/fontbr /font size=-1 class=pa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGnYGrywpikoBSXUGCWcy4VpjewmAamp;url=http://www.cbsnews.com/8301-501465_162-57436655-501465/facebook-ipo-price-announced-saverin-to-pay-taxes/nobrCBS News/nobr/anbsp;-a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGjCOAi380V2CTXysqrEplJ0jQBbgamp;url=http://online.wsj.com/article/SB10001424052702303360504577407990565232470.htmlnobrWall Street Journal/nobr/a/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ned=usamp;ncl=dTmmjro3LNfpVdMO6hL9ygY1QWNwMnobrball 735 news articlesnbsp;raquo;/b/nobr/a/font/div/font/td/tr/tabletable border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEWxSFkfdGgQ214YJEiQI33_oMFfAamp;url=http://www.kansas.com/2012/05/20/2341374/must-veto-tax-bill.htmlimg src=//nt1.ggpht.com/news/tbn/gfPrE6bQnIFQMM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2Kansas.com/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEWxSFkfdGgQ214YJEiQI33_oMFfAamp;url=http://www.kansas.com/2012/05/20/2341374/must-veto-tax-bill.htmlbMust veto btax/b bill/b/abr /font size=-1bfont color=#6f6f6fKansas.com/font/b/fontbr /font size=-1Animosity and dysfunction at the Legislature led to both chambers#39; passage of a btax/b-reform bill that makes no fiscal sense whatsoever. Now, for the love of Kansas, Gov. Sam Brownback must veto it. Admittedly, that#39;s unlikely, given his Friday statement b.../b/fontbr /font size=-1a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNHRd3HOJ9MYNkEP__h4EeotDzsNsQamp;url=http://www.wibw.com/home/localnews/headlines/Lawmakers_Tax_152170225.htmlKan. Lawmakers Unable To Find Smaller bTax/b Cut Plan/afont size=-1 color=#6f6f6fnobrWIBW/nobr/font/fontbr /font size=-1a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGXyT7VgVEX995nVVfffZk0GYfFhQamp;url=http://www.kansascity.com/2012/05/18/3617707/compromise-tax-plan-still-eludes.htmlCompromise btax/b plan still eludes Kansas lawmakers/afont size=-1 color=#6f6f6fnobrKansas City Star/nobr/font/fontbr /font size=-1a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFMFjbHUYFOXw6i2BqSRnZW5OHBzQamp;url=http://www.kwch.com/news/kwch-taxes-budget-redistricting-tie-legislature-in-knots-20120518,0,7705488.storybTaxes/b, budget amp; redistricting tie legislature in knots/afont size=-1 color=#6f6f6fnobrKWCH/nobr/font/fontbr /font size=-1 class=pa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGNjD0BuRIOTJXYMJh6YJNWovX5hAamp;url=http://hutchnews.com/Todaystop/BC-KS-XGR--Tax-Cuts-3rd-Ld-Writethru--5-20120518-18-10-41nobrHutchinson News/nobr/anbsp;-a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGE9EE8SqKri3XwjFITEF8e413M-Qamp;url=http://www.boston.com/business/taxes/articles/2012/05/17/kan_lawmakers_have_new_tax_plan_doubts_linger/nobrBoston.com/nobr/anbsp;-a href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEPs6nnQS4qsPTBbTn2MaUrQVd4rgamp;url=http://www.ksn.com/news/state/story/Kan-lawmakers-declare-end-to-debate-on-tax-cuts/496-QL9YtE2CoVpCOTrW6g.cspxnobrKSN-TV/nobr/a/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ned=usamp;ncl=dNpnoY8LbI4U_JMO4jz2O31t6WSgMnobrball 176 news articlesnbsp;raquo;/b/nobr/a/font/div/font/td/tr/tabletable border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNEC2AVLMzhe2j0Z1Ysc0hmhZwg19Aamp;url=http://www.washingtonpost.com/blogs/ezra-klein/post/should-we-raise-taxes-on-wall-street/2012/05/19/gIQAX4BIZU_blog.htmlbShould we raise btaxes/b on Wall Street?/b/abr /font size=-1bfont color=#6f6f6fWashington Post (blog)/font/b/fontbr /font size=-1The idea, admits btax/b lawyer Lee Sheppard, would prompt bankers to “look at you balefully, like you just ran over their dog.” (TIMOTHY A. CLARY - AFP/GETTY IMAGES) But advocates for higher btaxes/b on Wall Street trading hope the proposal gets a second b.../b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ned=usamp;ncl=dI8JGMhmuRMI4HMnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/tabletable border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFHsCrGVxs5KgK1g2Yz__CHwlVQugamp;url=http://www.kansascity.com/2012/05/19/3618915/another-tax-lapse-adds-to-the.htmlimg src=//nt1.ggpht.com/news/tbn/QcahMmzAyItEPM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2Kansas City Star/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFHsCrGVxs5KgK1g2Yz__CHwlVQugamp;url=http://www.kansascity.com/2012/05/19/3618915/another-tax-lapse-adds-to-the.htmlbAnother btax/b lapse adds to the heat on McCaskill/b/abr /font size=-1bfont color=#6f6f6fKansas City Star/font/b/fontbr /font size=-1By STEVE KRASKE Only seven months after critical news stories about unpaid btaxes/b on a private airplane, US Sen. Claire McCaskill was late paying property btaxes/b on her Washington, DC, condominium. Records show that the Missouri Democrat missed the fall b.../b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ned=usamp;ncl=dG6ISNyoX6fLK8Mnobrb/b/nobr/a/font/div/font/td/tr/table