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• Podcast: Costs of Car Ownership

  Nov 21, 2024 8:00 am by Andrea PellegriniPodcastsBudgetsCreditEducationFacilitator GuidesNewsSaveSpend
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  Making Cents of Money · Episode 98: Costs of Car Ownership

  Costs of Car Ownership

  ‘Tis the season to make holiday travel plans! This episode of Making Cents of Money offers helpful hints for staying on budget when traveling to celebrate with family and friends. 

  Resources Discussed in the Episode

  There were a wide variety of tools and resources discussed in this episode. 

  Calculators

  Comparing Commute Costs Calculator from Bicycle Universe

  Costs of Ownership

  • Edmund’s True Cost to Own ® Calculator
  • What Is the Total Cost of Owning a Car? via NerdWallet
  • Illinois Tollway Trip Calculator

  Don’t Forget Monthly Costs

  • Edmund’s True Cost to Own ® Calculator
  • CFPB’s Take Control of Your Auto Loan Guide

  Know Your Credit

  • Get Free Weekly Credit Reports from Equifax, Experian, & TransUnion

  Auto Loan Calculator Examples

  • NerdWallet Car Loan Calculator
  • Bankrate Auto Loan Calculator

  Manufacturer vs Extended Warranties

  “What is the difference between a manufacturer’s warranty and an extended vehicle warranty or service contract?” via CFPB

  Title and Registration

  • ILLINOIS Registration Renewal and ID Cards
  • FAQ on Title & Registration in Illinois
  • Buying or Selling a Used Vehicle Pamphlet from IL Sec of State
  • Seller’s Report of Sale Form

  Insurance

  State of Illinois Mandatory Insurance

  Can Your Budget Handle Car Costs?

  • Budgeting & Financial Planning episode list for Making Cents of Money
  • Budgeting Web Page from University of Illinois Student Money Management Center
  • You can also use something like this budget worksheet from the CFPB

  Research & Compare 

  • CFPB Auto Loan Worksheet
  • CFPB Site on Auto Loans
  • FTC Used Cars Site
  • Prioritize debt repayment with PowerPay

  Know Your Resources 

  • Kelly Blue Book
  • NADA Guides
  • Edmunds True Market Value
  • CarFax History-Based Value

  FTC Articles

  • Buying a Used Car
  • "Put the brakes on phony online car sales"

  While Financing

  • “Car dealer deceived consumers & falsified info” via FTC
  • “Record-setting $10 million FTC-Illinois settlement takes on car dealers’ unauthorized add-ons and discriminatory lending practices" via FTC
  • Auto Buying, Financing, & Repairs in Illinois (including Illinois Lemon Law)

  Report Scams & Fraud

  • Consumer Financial Protection Bureau (CFPB)
  • Federal Trade Commission (FTC)

  Relevant previous podcast episodes & recorded webinars

  • Ep. 74 – Credit Reports Update
  • Ep. 67 –  What's a Credit Report Anyway?
  • Ep. 51 – Credit Scores
  • Ep. 42 – Credit Access
  • Ep. 15 – Conscious Credit
  • Ep. 70 – The Impact of Compound Interest
  • Ep. 42 – Budgeting

  You can watch our recorded webinars on YouTube, including Your Financial Tool Chest and Speed vs Savings: Do You Need a Car? (also embedded below). Or you can register for upcoming Get Savvy: Grow Your Green Stuff webinars. 

  
  

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