Ilyce Glink's BlogWelcome to Ilyce Glink's blog! Here you'll find Ilyce's latest insights on personal finance advice, real estate advice and consumer issues. Come back often for timely and interesting posts on a wide variety of topics. Wednesday, August 27, 2008 Commuters Persist in Driving Alone
A recent survey found: -One in four (26%) working Americans say they have made adjustments to their commuting habits in the last year to deal with the increased cost of getting to work. -Despite this, however, eight in 10 (84%) say their primary mode of transportation for getting to work is still their car, which they drive alone. -Just 5 percent of workers carpool, and reliance on public transportation is still very low. Only 2 percent of workers take the train or subway as their primary transportation to get to work, while another 3 percent ride the bus. -And whether they're the majority driving the highways or the minority taking public transportation, the typical American worker commutes an average of 13.9 miles one way--with one in five (19%) traveling more than 25 miles to get to work. Ipsos Public Affairs surveyed more than 1,000 hourly and salaried workers on behalf of SnagAJob.com. Labels: Cars, commute, driving, Gas, gas prices
posted by Melanie G. Rogers at 3:08 PM
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Tuesday, July 22, 2008 Establishing Value After a Car AccidentIf your car has been in an accident, you may find the following websites helpful: Labels: auto, Cars, Clark Howard
posted by Ilyce Glink at 12:47 PM
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2 Comments:Love when you fill in for Clark Howard. Truly enjoy your sharing of knowledge and all the quick and easy tips.
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Definitely www.autotrader.co.uk is the best site tool to evaluate any condition car price
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Monday, July 21, 2008 Compressed Air Cars
According to Wikipedia, a compressed air vehicle is powered by an air engine, using compressed air, which is stored in a tank. Instead of mixing fuel with air and burning it in the engine to drive pistons with hot expanding gases, compressed air vehicles (CAV) use the expansion of compressed air to drive their pistons. One manufacturer claims to have designed an engine that is 90 percent efficient.[1] Compressed air propulsion may also be incorporated in hybrid systems, e.g., battery electric propulsion and fuel tanks to recharge the batteries. This kind of system is called a hybrid-pneumatic electric propulsion. Additionally, regenerative braking can also be used in conjunction with this system. Tata's compressed air cars might sell for less than $13,000. To paraphrase Paris Hilton, now that's Hot. Labels: auto, Cars, Compressed Air car, environment, Tata
posted by Ilyce Glink at 12:53 PM
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Friday, July 04, 2008 Ready to Trade in Your Gas Guzzler?
Fed up with bad gas mileage? Thinking about dumping your Hummer or SUV for a car that doesn't eat fuel like crazy? Whoa! While it might make sense, it might not. How do you find out? Edmunds, the automotive information company has introduced the "Gas-Guzzler Trade-In Calculator." The calculator will tell you whether it will pay to trade in your 3-year old car for a new Toyota Prius, for example. You'll find out how much you'll save based on the mileage you drive and be able to compare that to how much more you'll pay for the new car. Check it out online at Edmunds.com. Labels: auto mileage, Cars, gas prices
posted by Ilyce Glink at 1:34 PM
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Tuesday, June 24, 2008 IRS Raises Mileage Rate to 58.5 Cents Per Mile
Starting July 1 you can deduct 58.5 cents per mile, when you're driving for business, the IRS just announced. For miles driven between January 1 and June 30, 2008, you can deduct 50.5 cents per mile. This is great news for the self-employed and those who get reimbursed for mileage by their employers. The IRS normally does not make an adjustment in mid-year but they said the increase comes in response to recent higher gas prices. The agency also considers depreciation, insurance and other fixed and variable costs, it announced. If you're driving for a medical or moving purpose your mileage rate jumps to 27 cents from 19 cents. If you're working for charity, the rate remains 14 cents per mile. Labels: auto, auto mileage, Cars, IRS, tax deduction
posted by Melanie G. Rogers at 9:27 AM
1 comments
1 Comments:There is an exciting business tool provided by http://www.MileageLogger.com that will help you capture your business mileage automatically, no need for pen and paper.
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Friday, June 20, 2008 Truth vs. Fiction in Saving Gas
You may have seen an email about creative ways to save gas, but apparently some of them provide minimal benefit. NADAguides.com announced today that some of the new tips won't help you much. For example, people say not to weigh down your car with stuff. But for this to actually help, you have to remove about 100 lbs. of goods. Of course you can still clean out your car to remove some of the clutter in your life, but don't expect that to help you save gas. Some say you should fill up your tank when temperatures are coolest, but apparently the temperature in a gas station's underground storage tank remains fairly constant so your savings won't be much. "For a 20-gallon gas tank, a one-degree rise means about a 0.08 gallon change or about 32 cents total savings when gas prices are at $4 per gallon," explains Dr. Richard Cohen, associate professor of mechanical engineering at Temple University. Filling up when your tank is half empty and using the slowest pump speed also provide small savings, according to Cohen. He says doing this, which is supposed to minimize the vapors in your gas tank, will save you 10 to 30 cents on filling up a 20 gallon tank at $4 a gallon. So what does work? Driving slow and steady. "I've seen improvements in gas mileage of up to 15 percent when driving at 65 mph versus 75 mph," says Tara Baukus Mello, a NADAguides.com market analyst. "The least aerodynamic vehicles, such as SUVs, tend to have the biggest improvements." Coasting to a stop can also help save gas. Don't idle. If you find yourself waiting a long time at an ATM or drive thru shut off your car. If you drive a hybrid car you're probably already there, as many shut off the gas motor when you stop. Keep your tires properly inflated. Mello says this can save you up to 10 percent. To find out the correct tire pressure for your car check your owners' manual or inside the driver's side door where it may be printed on a sticker. OPEC continues to debate whether to increase oil production and this morning a barrel of oil cost more than $135. In addition, demand in China keeps going up, so relief at the gas pump may not be happening anytime soon. Labels: auto, auto mileage, Cars, Gas, gas prices
posted by Melanie G. Rogers at 8:48 AM
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Wednesday, June 11, 2008 Gas Surpasses Clothes in Teen Credit Card Expenses
Apparently getting somewhere is becoming more important than looking cool. Teens spend more money on gas than they do on clothes when they use their credit cards, according to a poll from Junior Achievement and the Allstate Foundation. Nearly 70 percent of teens use credit cards to buy gas, up from 52 percent in 2007 and 46 percent in 2006. The percentage of teens whose parents pay the credit card bills has also increased. Thirteen percent of teens' parents now pay those bills, up from 11 percent last year. Pollsters talked to 712 teens in February and March 2008 for this survey. Labels: Cars, credit cards, financial education, Gas
posted by Melanie G. Rogers at 3:20 PM
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Wednesday, May 21, 2008 What's the Best Way to Work While Facing High Gas Prices?I think gas has increased by at least 70 cents a gallon since I started working this past September. It's certainly not been easy. Labels: auto, Cars, commute, employer, Gas
posted by Melanie G. Rogers at 2:46 PM
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Thursday, April 24, 2008 California Tops List for Fewer Auto Insurance Rate Increases
Aside from the great weather in southern California, residents are sitting pretty because they probably get a good deal on car insurance. The Consumer Federation of America today released the results of an auto insurance study that found states with more regulation of the industry save consumers money. Fifteen states require auto insurers to submit rate increases to them for approval before putting them in effect. Among those, California did the best job of saving drivers money. From 1989 to 2005 rates increased only 12.9 percent, which beats the next lowest, New Jersey by almost 8 percent. States whose rates were the highest included Hawaii, DC, Connecticut, New Hampshire and Vermont. The study attributes the cost savings to state regulation and says that states where regulation is lacking, where consumers rely on a more free market system, they pay more. To see the full study go here: Labels: auto, California, Cars, Hawaii, insurance
posted by Melanie G. Rogers at 2:47 PM
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Monday, April 21, 2008 Consumers Want Better Gas Mileage
Do you know anybody who doesn't want better gas mileage? I don't. But, apparently only 73 percent of those surveyed by the Consumer Federation of America want that. Or will admit to it. And auto makers have not met the demand for more fuel-efficient vehicles, according to the survey. CFA says auto makers won't build greener cars until Congress passes legislation stipulating a standard of at least 35 miles per gallon. I venture to say that if consumers stopped buying gas guzzling cars, auto makers would suddenly see the light, even if there were no law. The percentage of Americans concerned about dependence on foreign oil stands at 60 percent. Still, consumers spent $600 more on gas so far this year, as compared with first quarter 2002, CFA announced. I don't think it's a matter of people not caring or not wanting to save on gas and oil. It may be a matter of not having a choice. Most folks have to go to work and in most cases that means commuting. If you live in an area without good public transportation you don't have an alternative. And as the economy slows down people may choose to keep their inefficient cars rather than buy a new car or go into debt to get one. Note: On behalf of CFA, the Opinion Research Corporation interviewed 1,004 Americans the first week of April this year. Melanie G. Rogers ThinkGlink.com Labels: auto mileage, Cars, consumer federation of america, Gas
posted by Ilyce Glink at 4:10 PM
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Wednesday, February 06, 2008 Budget Extra If You Own a Car in These 5 States
Edmunds.com, an auto Web site where you can figure out how much your car's worth, just announced which states cost owners the most and least to own a car. The company tracked costs including depreciation, financing, taxes, insurance, fuel and maintenance, then added them all up. Hawaii ranks as the most expensive U.S. state for car ownership. After all's said and done, the true cost to own a car is $59, 457 over five years. California came in second because it costs $59,347 there. Alaska, Nevada and West Virginia rounded out the top five. New Hampshire wins for being the cheapest state in the Union to own a car. After five years, those in the Live Free or Die state will have spent $47,499. That's on top of no state sales tax or state income tax. Maybe the tradeoff is the weather? South Dakota, South Carolina, Oregon and Wisconsin were the other four cheapest places to own a car. Note the survey assumed that car owners financed their new cars for five years. It also assumed 15,000 miles per year and does not include leases. So next time you're out car shopping, don't forget to add in all the extra costs beyond the sticker price. They can really add up. Melanie G. Rogers ThinkGlink.com Labels: California, Cars, Edmunds, Hawaii, New Hampshire
posted by Ilyce Glink at 4:38 PM
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Thursday, January 03, 2008 What's Toyota Doing in This Commercial?
I like Toyota cars as much as anyone, but the company is running a new commercial that seems to encourage insurance fraud. The ad shows a guy shoveling a huge amount of snow on top of his already buried car. Clearly, he's waiting for something. The next thing you see, a huge snowplow slices his car in half. Now you can get a new car, the announcer suggests. The ad is funny, clever and seasonal, but my insurance policy would be invalidated if it turned out I had planned my own cars destruction. Let's look at it another way: If you drive your car onto the train tracks and it dies and you get out and try to push it off the tracks, that wouldn't be insurance fraud. That would be an unfortunate series of events leading to a bad accident. But, if you drive your car onto train tracks, get out of the car and leave it for a train to hit so that your insurance policy kicks in to buy you a new car, is that considered insurance fraud? It might be. Hopefully, this won't be one of those situations where life imitates art. Labels: Cars, insurance, Toyota
posted by Ilyce Glink at 6:36 AM
1 comments
1 Comments:I've seen the Toyota commercials also. The one I remember involves a FAMILY pushing a huge boulder down a hillside which then slams into the side of their car. I agree that Toyota could use a primer on how to pass along better ethics and values...
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Thursday, December 20, 2007 Congress Ups Auto Fuel Economy to 35 Miles Per Gallon
As mentioned on the Clark Howard Show: Congress voted this week to raise the fuel efficiency for cars to 35 miles per gallon by the year 2020. That's a 40 percent increase. Democrats estimate the requirements will save motorists $700 to $1,000 in fuel costs. The bill also requires increased ethanol use to 36 billion gallons per year by 2022 and increased production from non-corn sources such as switchgrass and wood chips. For more information: Labels: Cars, Clark Howard, Congress, Gas, WSB
posted by Ilyce Glink at 1:55 PM
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Wednesday, November 28, 2007 IRS Increases Business Mileage Reimbursement Rate
If you track your mileage for taxes this will interest you. The U.S. Internal Revenue Service just announced the mileage rates for 2008, which go into effect New Year's Day. You can deduct 50.5 cents for each mile used for business; 19 cents per mile for medical or moving purposes; and 14 cents per mile driven in service of charitable organizations. The IRS upped the business rate by 2 cents, lowered the medical/moving rate by a penny and kept the charitable rate the same from 2007. The business and medical/moving rates changed based on a study by Runzheimer International. The charitable rate is set by law, according to the IRS. "The increase in the 2008 national per-mile rate reflects a combination of factors, including higher fuel prices, rising insurance costs, and higher depreciation costs," notes Ted Schuerman, Director of Research & Client Service within Government Services at Runzheimer International. "Remaining cost components, such as maintenance and registration costs, remained relatively stable," states the vehicle cost expert. If you own your own business and have multiple vehicles for that business you may want to check the IRS Web site or ask your accountant. You can only count mileage for a maximum of four vehicles. Accountants can also advise on which method of depreciation should be used for those vehicles. Melanie G. Rogers ThinkGlink.com Labels: Business, Cars, IRS, Tax
posted by Ilyce Glink at 1:30 PM
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Friday, November 23, 2007 Sign Up for Notifications of Auto RecallsWhile it might be a little late for you to get direct notification about the recall of 2002 Altimas and Sentras as well as 2005-2006 models with 2.5 liter engines, you can sign up to get notified about recalls if you own a Nissan. Labels: Cars, Nissan, recalls, safety
posted by Ilyce Glink at 2:43 PM
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Wednesday, November 21, 2007 Graco Recalls SnugRide Car Seats
Graco Children's Products Inc. announced yesterday they're recalling more than 300,000 infant car seats because of a possible choking hazard. The SnugRide seats were made between August 1, 2006 and June 30, 2007. Here's the link to the company's Web page, which lists model numbers being recalled and the replacement kits offered. http://www.gracobaby.com/customerservice/recall_detail.aspx?recallID=22
posted by Ilyce Glink at 12:41 PM
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Sunday, September 09, 2007 What's a $1.6 Million Car Look like?
Bugatti's newest entry into the car market is the spiffy Veyron, at $1.6 million. It has 1,001 horsepower (about 9 times my Honda Accord) and goes 0 to 60 in 2.5 seconds. Oh, and you can drive 254mph. Of course, I'm not really sure where you'll be able to drive that fast in this country. Maybe somewhere way out there in Texas. It's also available in yellow and black, but maybe for an extra couple of grand, they'll paint it in the colors of your choice. Labels: Cars
posted by Ilyce Glink at 1:56 PM
1 comments
1 Comments:Fantastic, too good, very good
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Thursday, August 30, 2007 Want to Save $200,000?
I've been saying it for years: If you can keep a car for at least 10 years, you'll easily save $100,000 to $200,000 more over your lifetime. Now, Consumer Reports has weighed in. According to their 2007 Auto Online Survey, "When comparing the costs of buying and keeping a car for 225,000 miles over 15 years to buying and financing an identical model every five years, CR found the savings could be more than the original purchase price of the vehicle -- and even greater if the savings were invested. "For example, Consumer Reports estimated the popular Honda Civic EX, with an automatic transmission, could potentially save its owner as much as $20,500 if properly maintained over 15 years -- $1,500 more than its purchase price. "In its analysis, CR calculated the costs of purchase price including destination fees, depreciation, maintenance and repairs, finance and interest, fees and taxes, and insurance for 15 years against the same factors for purchasing a new model every five years. "Factoring in three percent inflation and an annual five percent interest rate, Consumer Reports estimated an additional $10,300 in investment savings. As a result, maintaining the Civic EX over 15 years would be approximately $30,800 less than the cost of buying a new Civic EX every five years. Consumer Reports found similar savings with other models." How long does it take to put 225,000 miles on a typical car? The average American car owner drives around 12,000 to 15,000 miles per year. If you're going to put 200,000 miles on a car, you're looking to keep it about 15 years. While that's a lot of oil changes, and you have to have some luck (if the car rusts out, you'll probably have to get rid of it even if you're not at 200,000 miles), keeping each car for 15 years will result in a tremendous amount of savings that adds to the bottom line. Want to boost those results even more? After you're done paying off the car, take the amount you're using to pay off the car each month and sock it away into a savings account. Imagine: If your monthly payment for the car is $250, and after your 5-year loan is up you continue to put away $250 per month ($3,000 per year) into a Roth IRA or 529 College Savings Plan, and you do that for 10 years, you'll have saved another $30,000 or perhaps twice that if you've invested well. Now that's a way to save some real bucks. Labels: Cars, Retirement Money
posted by Ilyce Glink at 8:43 AM
1 comments
1 Comments:Great story. It is amazing how much you can save by just using your car for more than they typical buyer does.
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Saturday, January 06, 2007 The First Ilyce Glink Show of 2007Happy New Year everyone!
Finally, the IRS opens for business next week -- but the forms won't have all the right information on them, because they don't include the Tax Extender's Act info. You can find out what you're missing on www.irs.gov. I hope you'll join me tomorrow, 11:00am-1:00pm (EST) or download the show later this week. Labels: Cars, Leasing, Rebates, Tax, WSB
posted by Ilyce Glink at 10:20 PM
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