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Ilyce Glink's Blog

Welcome 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.

 

Tuesday, July 22, 2008

Establishing Value After a Car Accident

If your car has been in an accident, you may find the following websites helpful:

Kelly Blue Book (http://www.kbb.com/)
National Automotive Dealers Association (http://www.nada.com/)
Edmunds (http://www.edmunds.com/)
Auto Trader (http://www.autotrader.com/)

If you are worried that the value of the car will be less than what you owe, you'll want to buy GAP insurance coverage when you buy your auto insurance. Gap coverage will insure you for the gap between what you owe and what the car is valued at after an accident.

For many people, Gap insurance isn't a good deal, since it's relatively expensive for a declining liability. But there is definitely a need for this kind of policy, so evaluate it carefully before you buy.

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posted by Ilyce Glink at 12:47 PM 2 comments

2 Comments:

Love when you fill in for Clark Howard. Truly enjoy your sharing of knowledge and all the quick and easy tips.

posted by Anonymous Anonymous | July 22, 2008 1:08 PM   | more stuff

 

Definitely www.autotrader.co.uk is the best site tool to evaluate any condition car price

posted by Blogger QTMedia | July 28, 2008 3:50 AM   | more stuff

 

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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.

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posted by Ilyce Glink at 12:53 PM 0 comments

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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.

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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.

posted by Blogger FMTech | June 26, 2008 8:39 AM   | more stuff

 

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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.

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posted by Melanie G. Rogers at 8:48 AM 0 comments

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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.

I recently thought I could take the commuter train but then real life got in the way. I compared the costs of the train against what I was spending in gas and realized I'd have to buy gas anyway, for the times when I was not at work and I did not anticipate saving that much. In addition, my schedule is such that buying a monthly pass didn't make much sense, if I could only use it half of the time, potentially.

Sure, you save money when you take public transportation, but you find yourself having to follow a more rigid schedule, which may not work for every job. And if you want to do something after work you have to either figure out how to get there via public transportation or do extra planning to drive.

Telecommuting, on the other hand, has been helpful. I work several days a week from home and it's worked out very well. In fact, I find myself starting work even sooner on those days. I drive on average two hours a day to and from work and those two hours add up on my telecommuting days.

That said, here are some data from outplacement firm Challenger, Gray and Christmas about how companies have responded to higher gas prices:

- 23 percent of respondents' companies offer condensed workweeks, for example, four 10-hour days
- 18 percent of companies subsidize employees' use of public transportation
- 14 percent have expanded telecommuting options
- one in five companies organize employee carpools

Thirty-four percent of companies said that they've had job seekers turn down job offers because of commuting costs. You would think the job applicant would have thought about that before interviewing. (Note: the survey results come from interviews of 100 HR executives.)

Separately, apparently job seekers have lost their enthusiasm for long commutes. In February 37 percent of survey respondents said they wouldn't travel more than 10 miles for a job. Thirty percent said they'd be willing to go 20 miles. Only 15 percent would travel more than 20 miles. This information comes from a SnagAJob.com survey.

My current commute is roughly 15 miles, probably one of the longest I've had. But it's worth it.

If you find yourself trying to make some commuting decisions look at all your options and see what your company offers. If they don't offer telecommuting or carpooling or condensed weeks, it may be worthwhile to ask to get them started.

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posted by Melanie G. Rogers at 2:46 PM 0 comments

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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:

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posted by Melanie G. Rogers at 2:47 PM 0 comments

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