Finance Xpress

One small step for you, one giant leap for life insurance. Find out how Leap Life can make finding life insurance a breeze with just a few clicks online.

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Leap Life Insurance is an online life insurance agency that focuses on quickly and efficiently connecting customers with the best possible life insurance options for their particular needs. The company has a flexible process for getting life insurance, so you can choose the option that fits you best.

What is Leap Life?

Leap Life Insurance isn’t an actual insurer itself. Instead, it’s an agency that hooks up customers with quotes for various life insurance agencies. You can apply online for an instant decision on a no-medical-exam policy, or you can talk to a licensed life insurance specialize to get more in-depth about a policy that suits your needs perfectly.

Leap Life uses a combination of online tools and personalization that helps you find the term life insurance policy that works best for you.

Related: Term vs Whole Life Insurance: What’s the Best Option for You?

Leap Life Options and Features

Leap Life Insurance specializes in only term life insurance, which is the best option for the majority of consumers. They offer insurance policies from a variety of companies, including Lincoln, Assurity, Prudential, Protective, Pacific Life, and TransAmerica.

When you fill out their preliminary application for life insurance, Leap will give you the best coverage option from the most affordable company on its list. But you can also check out other options if you’re looking for a specific insurance carrier.

Leap Life Pricing and Fees

As with all life insurance products, Leap Life connects you with products that vary in price depending on your personal circumstances, life insurance needs, and coverage preferences. They say quotes range from just $14 per month on up from there. When I ran through the process, I got quotes from Assurity that are below:

Your specific pricing will depend on all these factors, so it could be wildly different from what you see here.

One thing to note, though, is that you won’t have to pay Leap Life anything for getting you the insurance policy. Insurance companies like Leap get payment from the insurers when they connect customers to the right insurance policy.

Leap Life does focus on working with insurers known for their low life insurance rates. With that said, they don’t get quotes from every potential company around. So if your goal is to find the absolute lowest price, you may want to look at other brokers, as well, so you have a broader variety of life insurance companies to choose from.

Resource:  The Complete Guide to Life Insurance

Applying for Life Insurance

The quickest option for Leap Life is to fill out their quote form, choose the coverage that you want, and then go through the application for the no-medical-exam life insurance. A policy without a medical exam can be a good option if you want to get your coverage started quickly. But if you’re in truly excellent health, you might actually miss out on potential savings without a medical exam. If an exam proves that you’re in above-average health, you may qualify for even lower rates.

With Leap Life Insurance, you can also call in to speak to an agent and apply over the phone. This can be helpful if you aren’t sure what you need when it comes to coverage, or which company you should go with.

The application process can take less than 10 minutes, but that depends on the coverage you’re applying for and your specific health factors. Bottom line: You’ll have to provide Leap Life with lots of personal information to get a health insurance policy. But that’s just how it works!

Leap Life Security

Leap Life notes that third parties may collect your data from their site, but since you’re applying for a life insurance policy with them directly, you probably won’t get a million emails from life insurance companies like you do when you fill out a preliminary application with an aggregator service. They use standard security protocols and encryption to keep your information as safe as possible.

Mobile Accessibility

Leap Life doesn’t have an app, but they have a very mobile-friendly site, so you can definitely do the application process online.

Customer Support

Many online life insurance brokers only give you phone access to their support people as a last resort. But with Leap Life, if you prefer to talk to someone about your policy rather than doing the whole process online, you can do that. They offer a customer support number right up front if you want to talk to an agent. And their agents are available by phone or email whenever you have questions about the process. Leap Life also has an A+ rating with the Better Business Bureau.

Pros and Cons

Alternatives

There are plenty of online life insurance brokers like Health IQ and Ethos. And there are specific life insurance companies like Haven Life that let you apply for their policies directly online. To make sure you’re getting the best possible quotes, you might run your personal information through a couple of different brokers before you decide who you’re ultimately going to work with.

Related: Best whole Life Insurance

Who is Leap Life For?

Leap Life is a great option for those who are in the market specifically for no-exam term life insurance policies. It’s an especially smooth application process if you already know what you want and are ready to choose a policy and run with it.

Bottom Line

With all the online life insurance brokers proliferating these days, it can be hard to know what sets one apart from another. Leap Life’s easy access to brokers by phone is a great option if you have questions about which policy is best for your particular needs. And it’s another great option to make sure you’re getting the best possible quotes for life insurance, too.

Try Leap Life

Topics: Life Insurance • Reviews

The post Leap Life Insurance Review – No-Exam Term Life Insurance Policies appeared first on The Dough Roller.

via Finance Xpress

Posted by: John S Kiernan

After experiencing a 5.7% loss in 2018, hedge funds have started to rebound, experiencing their best first quarter in 13 years. Total hedge fund capital stands at $3.18 trillion. To put that in perspective, only four countries, including the U.S., have a GDP higher than that. Furthermore, the median yearly earning for a hedge fund manager is now just under $350,000, but there are many who are billionaires.

So it makes sense that people pay attention to what they’re buying, selling and holding. We want to replicate their success. Hedge funds’ quarterly public disclosures, mandated by the Securities and Exchange Commission, give us a window into their recent activity.

To help investors make informed decisions about where to put their money, WalletHub analyzed the filings of over 400 top hedge funds, identifying their biggest holdings, new positions, recent exits and more. You can check it all out below, including a breakdown of the names that billionaire stock pickers – from Warren Buffett to George Soros – prefer these days.

1. Most Popular Hedge Fund Stocks
2. Top Billionaire Stock Picks
3. Hedge Fund Holdings by Sector
4. Ask the Experts: What Can We Learn From Hedge Funds?
5. Methodology

25 Most Popular Hedge Fund Stocks

Rank	Name of the Company	Ticker	Change from Last Quarter
1.	Microsoft Corp.	MSFT	---
2.	Amazon.com, Inc.	AMZN	---
3.	Apple, Inc.	AAPL	---
4.	Facebook, Inc.	FB	↗
5.	Alphabet, Inc.	GOOG	---
6.	UnitedHealth Group, Inc.	UNH	↙
7.	Visa, Inc.	V	↗
8.	JPMorgan Chase & Co.	JPM	↙
9.	Bank of America Corp.	BAC	↗
10.	Wells Fargo & Co.	WFC	↙
11.	Mastercard, Inc.	MA	---
12.	Netflix, Inc.	NFLX	↗
13.	The Boeing Company	BA	↗
14.	Comcast Corp.	CMCSA	↙
15.	The Coca-Cola Company	KO	↙
16.	Adobe Systems, Inc.	ADBE	↗
17.	Johnson & Johnson	JNJ	↙
18.	salesforce.com, Inc.	CRM	---
19.	American Express Company	AXP	↗
20.	Merck & Co., Inc.	MRK	↙
21.	Verizon Communications, Inc.	VZ	↙
22.	The Home Depot, Inc.	HD	↗
23.	Citigroup, Inc.	C	↙
24.	Pfizer, Inc.	PFE	↙
25.	Berkshire Hathaway, Inc.	BRK-B	↙

 

Top Billionaire Stock Picks

Hedge funds have become so popular that the billionaires behind them have celebrity status. Not only are they rich and famous, but they can move markets with just a few words. Investors worldwide follow their every move.

If you, too, are curious to see how billionaire investors such as Warren Buffett, Carl Icahn and Bill Ackman are making their money these days, just check out the following infographic. You’ll find the top three holdings of 12 big-name billionaires, plus an overview of the stocks they’ve been buying and selling lately.

 

Embed on your website<a href="http://bit.ly/2vNksv0"> <img src="//d2e70e9yced57e.cloudfront.net/wallethub/posts/63374/q1-2019-top-billionaire-stock-picks-v2.png" width="" height="" alt="" /> </a> <div style="width:px;font-size:12px;color:#888;">Source: <a href="http://bit.ly/2Xp1eHz>  

Hedge Fund Holdings by Sector

Diversification is key to investing success. That’s because spreading your chips around reduces risk and allows you to benefit from the broader market’s long-term upward trend. That’s why even the world’s best investors hedge their bets by allocating capital to various segments of the economy.

The investments don’t simply match the economy’s makeup, however. And they’re not always the same year to year, either. That’s why we can learn a lot from the way in which hedge funds diversify their investments. With that in mind, here’s a breakdown of where the money was during Q1 2019.

Embed on your website<a href="http://bit.ly/2vNksv0"> <img src="//d2e70e9yced57e.cloudfront.net/wallethub/posts/59076/hedge-fund-holdings-by-sector-2018.png" width="" height="" alt="" /> </a> <div style="width:px;font-size:12px;color:#888;">Source: <a href="http://bit.ly/2Xp1eHz>

 

Ask the Experts: What Can We Learn From Hedge Funds?

In search of advice on how much stock we should put into billionaires’ stock picks, WalletHub asked the following questions to a panel of investing experts. You can check out their bios and responses below.

1. How will the recent trade negotiations between U.S. and China impact stock prices in the short and long run?
2. Is the current stock market prone for a correction or is there still room for growth?
3. What tips do you have for an individual investor? What sectors are expected to grow the most in the coming years?
4. How will new tech IPOs, like Lyft or Pinster, impact the overall stock market performance?

< >

• Jon A. Hooks Ph.D., CFA – Department Chair and Professor of Economics and Management, Albion College
• Kip Becker Ph.D. – Associate Professor Emeritus, Boston University
• Stephen Rush Ph.D. – Chartered Financial Analyst, Bowling Green State University
• Rajeev Singhal Ph.D. – Associate Professor of Finance, Oakland University
• Doug Cliggott Lecturer in Economics at the University of Massachusetts, Amherst
• Haim Kassa Gebeyehu Ph.D. – Assistant Professor, Department of Finance, Farmer School of Business, Miami University

Methodology

This report is based on information from the latest public disclosures (Form 13F-HR for Q1 2019 and SC amendments from April 1 to May 15) for over 400 of the largest U.S. hedge funds. Data refer only to equities (i.e. not American Depository Receipts, Global Depository Receipts, Notes, Bonds or any other type of tradable securities).

To construct the “Most Popular Stocks” list, we looked at each of the over 400 funds’ positions, added up the positions for the same stock and rank-ordered the stocks by their total holdings value.

To calculate the “Sector Breakdown” of the positions held by the tracked hedge funds, we added up all the positions of the hedge funds from the same sector and then divided by the total amount of the hedge funds’ positions.

Report Disclaimer: The information on this web page is provided as general and impersonalized investment information and is not a recommendation or solicitation to buy or sell any security. Please obtain additional appropriate professional advice as needed in making any investment decisions. Past performance does not guarantee future results.

Image: Vintage Tone / Shutterstock.com

from Wallet HubWallet Hub


via Finance Xpress

Posted by: Adam McCann

With every new headline about a mass shooting, terrorist attack, hate crime or natural disaster, many of us fear for our safety and that of our loved ones. Just in 2017, four hurricanes struck the mainland U.S., killing over 100 people and devastating Texas, Florida, Georgia, South Carolina and Puerto Rico. And Louisiana led the U.S. in the homicide rate, averaging 11.8 per 100,000 people. Each state is safe from some dangers but falls prey to others.

Safety is a basic human need. We require some form of it, such as personal and financial protection, in every part of daily life. But we’re likely to feel more secure in some states than in others.

In order to determine the safest states in America, WalletHub compared the 50 states across 48 key safety indicators grouped into five different categories. Our data set ranges from assaults per capita to unemployment rate to total loss amounts from climate disasters per capita. Read on for our findings, expert insight from a panel of researchers and a full description of our methodology.

1. Main Findings
2. Ask the Experts
3. Methodology

Main Findings Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/4566/geochart-safest.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="http://bit.ly/2WGygFV>

 

Safest States in the U.S.

Overall Rank (1 = Safest)	State	Total Score	‘Personal & Residential Safety’ Rank	‘Financial Safety’ Rank	‘Road Safety’ Rank	‘Workplace Safety’ Rank	‘Emergency Preparedness’ Rank
1	Vermont	66.02	2	3	9	17	9
2	Maine	65.41	4	8	14	11	3
3	Minnesota	61.86	11	7	1	2	22
4	Utah	61.39	21	10	6	4	2
5	New Hampshire	61.37	7	4	20	38	6
6	Connecticut	61.30	1	22	27	22	17
7	Rhode Island	61.12	5	21	3	24	11
8	Hawaii	59.42	12	6	39	19	5
9	Massachusetts	59.21	8	9	7	31	10
10	Washington	58.52	32	12	4	3	7
11	Iowa	56.97	3	11	18	13	43
12	Wisconsin	55.08	15	13	22	29	16
13	Oregon	54.39	39	16	10	14	14
14	Indiana	53.46	18	24	11	16	29
15	Delaware	53.18	16	39	21	33	15
16	Maryland	53.15	22	33	24	10	23
17	North Carolina	52.86	9	27	40	5	40
18	New Jersey	52.67	10	37	30	20	27
19	Virginia	52.54	27	15	26	6	30
20	North Dakota	52.41	6	2	8	49	41
21	Wyoming	51.87	20	25	15	39	21
22	Arizona	51.49	42	32	50	1	8
23	New York	51.46	19	18	17	30	28
24	Colorado	50.16	37	1	33	36	24
25	Nebraska	50.13	14	14	5	42	36
26	West Virginia	50.06	13	43	28	44	20
27	Idaho	49.93	29	19	37	45	18
28	Pennsylvania	49.91	17	35	31	34	26
29	Nevada	49.74	45	47	45	8	4
30	Ohio	49.48	33	34	12	23	25
31	Kentucky	48.82	26	31	35	18	31
32	California	48.29	46	20	41	21	19
33	New Mexico	47.69	38	50	48	15	12
34	Michigan	47.10	48	41	38	7	13
35	Illinois	46.94	35	44	2	25	34
36	Kansas	46.22	23	23	13	37	44
37	Georgia	45.77	25	45	34	26	33
38	South Dakota	45.34	24	5	16	50	42
39	Tennessee	44.71	47	28	19	12	35
40	Montana	44.14	28	17	25	46	38
41	South Carolina	43.65	44	36	49	9	37
42	Alaska	43.33	50	38	29	40	1
43	Missouri	43.05	36	40	42	27	39
44	Alabama	42.28	30	46	32	32	47
45	Arkansas	40.47	49	29	23	35	32
46	Florida	39.38	40	30	47	41	46
47	Texas	39.22	43	26	43	28	48
48	Oklahoma	39.05	34	42	44	47	45
49	Louisiana	35.21	41	49	36	43	49
50	Mississippi	32.90	31	48	46	48	50

Ask the Experts

No place is completely immune to danger of any form. Some areas simply deal with safety issues better than others. For additional insight and advice, we asked a panel of experts to share their thoughts on the following key questions:

1. There are many different potential threats to one’s safety: crime, weather, pollution, dangerous workplaces. In choosing a place to live, how should people weigh the risks?
2. What actions can the Trump administration undertake to reduce crime and improve public safety?
3. Do you agree with President Trump that increased border security will reduce crime?
4. What can state and local policymakers do to reduce crime in their communities?
5. What tips do you have for consumers looking to improve their financial safety?

< >

• Alexander Siedschlag Interim Director, School of Public Affairs, Professor of Homeland Security, School of Public Affairs, Pennsylvania State University Harrisburg
• Casey T. Harris Co-Director of the Center for Social Research, Associate Professor, Department of Sociology and Criminology, University of Arkansas

Methodology

In order to determine the safest states in which to live, WalletHub compared the 50 states across five key dimensions: 1) Personal & Residential Safety, 2) Financial Safety, 3) Road Safety, 4) Workplace Safety, and 5) Emergency Preparedness.

We evaluated those dimensions using 48 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the highest level of safety.

We then determined each state’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.

Personal & Residential Safety - Total Points: 40

• Presence of Terrorist Attacks: Full Weight (~1.95 Points)Note: This binary metric considers the presence or absence of a terrorist incident or attack in a city.
• Number of Mass Shootings: Full Weight (~1.95 Points)
• Murders & Non-Negligent Manslaughters per Capita: Double Weight (~3.90 Points)
• Forcible Rapes per Capita: Double Weight (~3.90 Points)
• Assaults per Capita: Double Weight (~3.90 Points)
• Thefts per Capita: Full Weight (~1.95 Points)
• Sex Offenders per Capita: Double Weight (~3.90 Points)
• Drug Abuses per Capita: Full Weight (~1.95 Points)
• Law-Enforcement Employees per Capita: Full Weight (~1.95 Points)
• Active Firefighters per Capita: Full Weight (~1.95 Points)
• Emergency Medical Technicians and Paramedics per Capita: Full Weight (~1.95 Points)
• Suicide Rate: Full Weight (~1.95 Points)
• Bullying Incidence Rate: Full Weight (~1.95 Points)
• Share of Elder-Abuse, Gross-Neglect and Exploitation Complaints: Full Weight (~1.95 Points)
• Hate-Crime Incidents per Capita: Full Weight (~1.95 Points)
• Hate Groups per Capita: Full Weight (~1.95 Points)
• Number of Neighborhood Watch Groups: Half Weight (~0.98 Points)

Financial Safety - Total Points: 15

• Share of Uninsured Population: Full Weight (~0.75 Points)
• Unemployment Rate: Double Weight (~1.50 Points)
• Underemployment Rate: Full Weight (~0.75 Points)
• Foreclosure Rate: Full Weight (~0.75 Points)
• Median Credit Score: Full Weight (~0.75 Points)
• Debt per Income: Full Weight (~0.75 Points)
• Poverty Rate: Full Weight (~0.75 Points)
• Share of Adults with Rainy-Day Funds: Full Weight (~0.75 Points)
• Fraud & Other Complaints per Capita: Full Weight (~0.75 Points)Note: “Other” includes both financial and nonfinancial complaints.
• Identity-Theft Complaints per Capita: Full Weight (~0.75 Points)
• Share of Unbanked Households: Full Weight (~0.75 Points)
• Job Security: Full Weight (~0.75 Points)Note: This metric was calculated as follows: (Total Workers in 2017 – Total Workers in 2016) / Total Workers in 2016.
• New Unemployment Claims per Total Civilian Labor Force: Full Weight (~0.75 Points)Note: “New Unemployment Claims” refers to the number of people making an initial claim for unemployment insurance benefits.
• Employment Growth (2017 vs. 2016): Full Weight (~0.75 Points)Note: This metric was adjusted for the working-age population growth.
• Share of Households with Emergency Fund: Full Weight (~0.75 Points)Note: This metric refers to the share of households who saved for unexpected expenses or emergencies in the past 12 months.
• Share of People Not Saving Money for Children’s College: Full Weight (~0.75 Points)
• Share of Households Behind on Bills in Past 12 Months: Full Weight (~0.75 Points)
• Personal Bankruptcy Filings per Capita: Full Weight (~0.75 Points)
• Share of Homes Underwater (with negative equity): Full Weight (~0.75 Points)

Road Safety - Total Points: 15

• Traffic Indiscipline (composite metric): Full Weight (~1.88 Points)Note: This is a composite metric that measures incidents due to poor behavior: phone use, speeding, aggressive acceleration, harsh braking, and poor turning.
• Fatalities per 100 Million Vehicle Miles of Travel: Double Weight (~3.75 Points)
• DUIs per Capita: Full Weight (~1.88 Points)
• Pedestrian & Pedalcyclist Fatality Rate per Capita: Double Weight (~3.75 Points)
• Road Quality: Full Weight (~1.88 Points)
• Driving Laws Rating: Full Weight (~1.88 Points)Note: This metric is based on the Advocates for Highway and Auto Safety’s Roadmap Report of State Highway Safety Law. In order to achieve the highest rating, according to the organization, “States must have 11 to 15 laws including both primary enforcement seat belt laws, or 9 or more laws including both primary enforcement seat belt laws and an all-rider helmet law.”

Workplace Safety - Total Points: 15

• Fatal Occupational Injuries per 100,000 Full-Time Workers: Double Weight (~6.00 Points)
• Injuries & Illnesses per 10,000 Full-Time Workers: Full Weight (~3.00 Points)
• Median Days Lost Due to Occupational Injuries & Illnesses: Full Weight (~3.00 Points)
• Presence of Occupational Safety & Health Act Plans: Full Weight (~3.00 Points)Note: According to the U.S. Department of Labor, “Under the [Occupational Safety and Health] Act, employers are responsible for providing a safe and healthful workplace. OSHA's mission is to assure safe and healthful workplaces by setting and enforcing standards, and by providing training, outreach, education and assistance.”

Emergency Preparedness - Total Points: 15

• Number of Climate Disasters Causing $1 Billion+ in Damages in Past Decades: Full Weight (~7.50 Points)Note: “Past Decades” refers to the period between 1980 and 2018.
• Loss Amount from Climate Disasters Causing $1 Billion+ in Damages per Capita: Full Weight (~7.50 Points)Note: This metric refers to the period between 1980 and 2018.

Videos for News Use:

• YouTube (for web embedding National)
• YouTube (for web embedding Minnesota)
• Raw files (for editing into clips)

 

Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Bureau of Investigation, TransUnion, National Center for Missing & Exploited Children, U.S. Fire Administration, Administration for Community Living - AGing Integrated Database, United Health Foundation, Federal Trade Commission, Federal Deposit Insurance Corporation, U.S. Department of Labor - Employment and Training Administration, Administrative Office of the U.S. Courts, National Highway Traffic Safety Administration, The Road Information Program, Advocates for Highway and Auto Safety, U.S. Department of Labor - Occupational Safety and Health Administration, National Centers for Environmental Information, Centers for Disease Control and Prevention, FINRA Investor Education Foundation, Wm. Robert Johnston, Gun Violence Archive, Southern Poverty Law Center, National Sheriffs’ Association, Renwood RealtyTrac, Zillow and EverQuote.

Image: vchal / Shutterstock.com

from Wallet HubWallet Hub


via Finance Xpress

I’ve recently heard a lot about people spending an exorbitant amount on their monthly car loan. Personally, I know several people who spend over $1,000 a month on their car loans while barely making enough to cover that and all of their other bills.

So today, I want to give you some tips for buying a new car so that you can save money on your next car purchase.

According to USA Today, the average new car price is around $37,000, with the average new car buyer paying around $550 a month with loan terms of 69 months. Many people are buying more expensive cars and taking out loans with high interest rates in order to “afford” them.

In fact, according to Edmunds, the current average annual interest rate on in 2019 is 6.19%. I've even seen car buyers with interest rates of 20% and higher.

And, people are extending their car loans for longer periods of time in order to get an even lower monthly car payment. While 72 months used to be a crazy long time to finance a car, terms of 84 months are even starting to become the norm.

Now, I'm not saying that you shouldn’t have a car loan or buy a new car. But, I do want people to be more mindful of their car spending and be more knowledgeable going into the car buying process.

Today's post is all about the best tips for buying a new car so that you can save money when buying your next vehicle. And, many of these tips for buying a new car also apply to buying a used one.

Not all car dealerships and car salesmen are bad. I know this for a fact because my husband used to be a new car salesman (and he was nice, I promise!). My husband knows all about the flack that salesmen get, and he even helped with some of the tips for buying a new car that I’m going to tell you about.

Despite the reputation car salesmen get, the car buying process itself can be really stressful for everyone.

Whether you are purchasing a new or used vehicle, there are several car buying tips and tricks you should know of so that you can walk away with the best deal possible. There are so many options and extras that come up when buying a car, which means there are many ways for you to end up leaving confused or paying more than you should be.

Whether you are buying a $500 car or a $50,000 one, you want to get the best deal available. To make sure you don’t walk away from a deal angry or regretful, it’s important to be as knowledgeable as possible.

Cars aren't cheap, which can leave a lot of room for mistakes and overpayments. You can buy a car that doesn’t meet your needs, is too expensive, and more.

We've had a lot of vehicles in our life, from a really cheap $500 car that ran well (yes, you can find good vehicles for cheap), to expensive new vehicles. And, we’ve used all of the tips I’m going to share with you today.

Before I tell you the top tips for buying a new car, I want to tell you about several ways that car dealerships make their money. These are things to be mindful of:

• Your trade-in vehicle. To make a profit on your used car, car dealerships will offer you less money than they can sell it for. Of course this is normal, but you want to be mindful of this so that you can get the most money out of your trade-in vehicle. Even though it takes a little more work, you can often make more money if you sell your car privately instead of selling it to a dealership.
• Incentives and bonuses from the car manufacturer. This means that if you can buy a car when a dealership hasn’t reached their selling quota, you may be able to get a great deal on your car purchase (this is covered more in my list of tips for buying a new car). Many times car dealerships will take a loss on the vehicle if it means that they will be able to reach their quota.
• Financing the vehicle. Dealerships make money when you finance vehicles through them.
• Extra options. These are things like an extended warranty and upgrades.

Buying a new or used car can be fun and stressful at the same time. You don't want to get tricked or duped, so here are tricks and tips for buying a new car before you start shopping!

Here are my best tips for buying a new car (or used one):

 

Think about the WHOLE COST of the car.

The most important of these tips for buying a new car that I can offer you is that you should think about more than just the monthly payment.

You should only purchase what you can actually afford. Just because the monthly car payment looks affordable, it doesn't mean that it actually is.

There are car payment terms that are as long as 96 months, which is just crazy to me. A car salesperson may stretch out the car payment so that it looks to be more affordable for you, but you should be aware of the whole cost, which includes things like interest and taxes.

Please, please, please, look at the whole cost and see if that's actually an affordable amount for you to be paying every month.

Even if you aren’t buying a brand new car, used cars can still cost you more than you think in insurance and taxes, so always think about the total cost before you purchase your next vehicle.

 

Shop around for your own car financing.

If you have to finance your car purchase, make sure you shop around before you agree to the dealer's interest rate. Sometimes the first dealer you visit will have the lowest rate, but sometimes they won't.

You may be able to save yourself hundreds (or even thousands) of dollars a year by simply shopping around. Plus, it's extremely easy to shop around for the best interest rates – start with local credit unions and banks!

I'm in quite a few Facebook groups about personal finance, and this topic comes up over and over again: people who are excited about getting a car loan with an interest rate of over 20%. And sadly, many of these people are buying brand new cars, not realizing how much they are about to pay because they don't know much about personal finance.

20% is not a good interest rate for a car loan – so please don't be excited about that! I am saying this to help you, not to be mean in any way.

You should shop around and make sure you are getting the best possible rate. If you are getting a 20% interest rate on a car loan, then you should probably not be buying a brand new car. There are plenty of more affordable vehicles that are older but still quite reliable.

 

Visit more than one car dealership.

You can shop around car dealerships both online and offline.

I recommend shopping online before you go to a dealership, this way you can be prepared in advance with the costs, loan terms, extras, and more. While shopping around does take time, you won’t be wasting it on a dealership that can’t get down to the price you want.

 

Skip the extras at the end.

When you are about to purchase a car, you will be encouraged to buy many small options that you may not need. This may include extras such as:

• Paint protection
• Extended warranties
• Upgrades

While you may believe that you need some of those options, you should make sure that you're not just thinking about the monthly cost. The financing manager will offer you these extras in a way that makes it seem affordable. But, these extras only appear inexpensive because they are padded into your monthly cost, so don’t be fooled by how “affordable” they seem.

Yeah, $10 or $50 each month may not seem like much, but it can add up to a lot over a 5 year period!

Trust me, you are paying for these. Dealerships make money on these extras.

Related: 30+ Ways To Save Money Each Month

 

Figure out how much your trade-in is worth.

One of the best tips for buying a new car if you’ll be trading in your vehicle is to know how much it is worth before you step foot into a car dealership.

Kelley Blue Book is a great resource for researching what you’re old car is worth. While you may not get the exact amount that Kelley Blue Book claims you will get, it can be a good estimator or starting point when negotiating with the car dealership.

 

Know when to shop.

There are certain times of the month and year that are better for car shopping than others. If a dealership is trying to meet their sales quota, they are more likely to give you a deal than when they've already beat their quota or if it's the beginning of their quota.

This is because car manufacturers will give bonuses and extra incentives to car dealerships who sell a certain amount of vehicles. This gives car dealerships extra motivation to give really good deals if they are close to their quota.

This is one of the best tips for buying a new car that my husband learned from selling cars.

To know the best time to shop for a new car, you may want to make friends with a car salesperson, find out when their end of month or end of quarter is, and so on. Or, you could just ask someone at the car dealership.

 

Don't be afraid to negotiate.

Even if you get a discount, such as a car manufacturer discount, you should still negotiate. Many times, those friends and family discounts mean that you are not able to haggle at all, which can lead to you actually paying a higher price.

Cars sales are usually meant to be negotiated, whether it is a brand new vehicle or a used one. If you don’t haggle, you will most likely lose out on a lot of money.

Other aspects of the vehicle buying process can be negotiated on as well, this includes your trade-in vehicle, warranties, interest rates, add-ons, and more.

Learn more about negotiating at How To Rock At Negotiating On Everything.

 

Be nice.

No matter what, you should be a decent human being. This is one of my tips for buying a new car that applies to most other aspects in your life.

Being rude doesn’t get you anywhere. It won't get you the best deal, and it may actually make the salesperson and the dealership not want to help you.

After you purchase a car you are asked to go through the car manufacturer to grade your car salesperson. If the salesperson knows that you might give them a bad grade (for no reason at all), they may not want your deal because it's not worthwhile to them to have a bad score, which decreases their salary/income.

Plus, you should always be nice anyways. Salespeople are just doing their job and trying to make a living, and the majority of them are good people. If you're nice to them, they may be willing to help you out a little more.

 

Miscellaneous tricks and tips for buying a new car.

Here are several other tips for buying a new car (or used one):

• Never shop when you're hungry or tired. You should always be well-rested and ready for an eventful day.
• For the car dealership to beat their quota, sometimes they will buy a new car themselves and put it on the “used” car dealership side. The car is still brand new, but is now considered pre-owned. This can allow you to save a good deal of money. However, you do want to be mindful of the warranty, because the warranty has most likely started once the car was officially bought the first time, even if it was bought by the car dealership.
• Purchase a car at the end of the car's model year. Dealerships want to move out last year's model to make room for the new ones, which can lead to a good discount.
• Look into car insurance before you purchase. You should contact your car insurance agent so that you are not surprised by a high insurance rate after you make a purchase.
• Figure out what you’ll need to pay in personal property taxes for your car, which varies state to state. You will need to add this into the total cost of your car.
• Don't tell the salesperson what your budget is for a monthly payment. You should always negotiate on price first. A dealership will try to get you into something that will just barely fit your monthly payment budget, which can cause you to spend a lot more money in the long run.
• Be confident. When negotiating, you should always be confident in what you are saying, and do not be afraid to walk away. If it's not meant to be, then it's just not.

What other tips for buying a new car can you share? Leave them in the comments below!

The post Save Money With These Top Tips For Buying A New Car appeared first on Making Sense Of Cents.

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Posted by: Adam McCann

U.S. economic growth depends heavily on the performance of individual states. But some contribute more than others. California, for instance, blossomed in 2017 as the fifth largest economy in the world, boasting a GDP larger than that of countries like the U.K., France and India. Meanwhile, Alaska, a state with valuable natural resources, is struggling with the highest unemployment rate in the country, at 7.3%.

In order to determine which states are pulling the most weight, WalletHub compared the 50 states and the District of Columbia across 28 key indicators of economic performance and strength. Our data set ranges from GDP growth to startup activity to share of jobs in high-tech industries. Read on for our findings, expert insight from a panel of researchers and a full description of our methodology.

1. Main Findings
2. Ask the Experts
3. Methodology

Main Findings

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/21697/geochart-best-performing-states.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="http://bit.ly/2Id2Yx9>  

State Economy Rankings

Overall Rank (1 = Best)	State	Total Score	‘Economic Activity’ Rank	‘Economic Health’ Rank	‘Innovation Potential’ Rank
1	Washington	81.30	1	4	2
2	Utah	74.24	2	1	10
3	Massachusetts	73.02	4	23	1
4	California	70.75	3	32	3
5	Colorado	66.45	8	3	4
6	District of Columbia	58.81	7	7	17
7	Idaho	58.03	13	2	18
8	Oregon	57.37	12	21	7
9	Georgia	57.03	5	12	25
10	Texas	55.83	10	8	21
11	Michigan	55.10	21	30	5
12	North Carolina	55.06	19	9	11
13	Arizona	54.86	11	17	14
14	New Hampshire	54.12	32	11	6
15	Maryland	53.48	18	31	9
16	Delaware	52.32	16	19	15
17	Minnesota	52.10	28	14	12
18	New York	51.42	9	39	20
19	Virginia	50.31	15	10	26
20	Nevada	49.71	6	20	43
21	Florida	49.40	14	5	35
22	New Jersey	48.16	20	44	13
23	Indiana	45.55	26	22	31
24	Pennsylvania	45.08	23	40	22
25	Vermont	45.02	40	25	16
26	Tennessee	44.88	22	6	42
27	Wisconsin	44.69	33	16	27
28	South Carolina	44.35	17	26	40
29	Missouri	43.76	35	24	24
30	Connecticut	42.82	46	45	8
31	Ohio	41.86	24	41	30
32	Rhode Island	41.19	36	38	23
33	North Dakota	40.99	31	27	37
34	Montana	40.70	37	18	33
35	Illinois	40.35	27	49	28
36	Nebraska	39.84	44	13	34
37	Iowa	38.41	42	33	32
38	Alabama	38.13	34	36	39
39	Kansas	37.41	48	35	29
40	Wyoming	36.09	30	43	41
41	Kentucky	35.88	25	42	47
42	New Mexico	35.20	45	50	19
43	Hawaii	35.13	41	29	44
44	Oklahoma	34.51	47	37	38
45	South Dakota	34.00	51	15	46
46	Maine	33.97	38	28	48
47	Arkansas	31.50	43	34	49
48	West Virginia	31.22	29	48	51
49	Alaska	31.19	39	51	36
50	Mississippi	28.14	50	46	45
51	Louisiana	26.07	49	47	50

 

Ask the Experts

Not all economic growth strategies are effective. For the best ways to stimulate the economy and achieve lasting prosperity, we asked a panel of experts to share their thoughts on the following key questions:

1. What are the most effective ways for state and local officials to boost their local economies?
2. What can states do to prevent “brain drain” and develop, attract and retain highly skilled workers?
3. States often compete for business investment by offering tax breaks and other incentives. Do such efforts more often result in a net positive or net negative impact on state economies? Do such efforts create a “race to the bottom” across states?
4. What makes a state attractive to potential entrepreneurs?
5. In evaluating the states with the best economies, what are the top five indicators?

< >

• John L. Campbell Ph.D. – Professor, Department of Sociology, Dartmouth College
• Arthur I. Cyr Director, Clausen Center, Clausen Distinguished Professor, Carthage College
• Nathan Jensen Ph.D. – Professor, McCombs School of Business, The University of Texas at Austin

Methodology

In order to determine the best state economies, WalletHub compared the 50 states and the District of Columbia across three key dimensions: 1) Economic Activity, 2) Economic Health and 3) Innovation Potential.

We evaluated those dimensions using 28 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the highest economic performance.

We then determined each state and the District’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.

Economic Activity – Total Points: 33.33

• GDP Growth: Quadruple Weight (~13.33 Points)
• Share of Fast-Growing Firms: Triple Weight (~10.00 Points)Note: This metric measures the number of firms in Deloitte’s Technology Fast 500 list as a percentage of total firms.
• Exports per Capita: Full Weight (~3.33 Points)
• Startup Activity: Full Weight (~3.33 Points)Note: This metric measures the rate of newly established firms.
• Quality of Legal System: Full Weight (~3.33 Points)

Economic Health – Total Points: 33.33

• Unemployment Rate: Double Weight (~4.30 Points)
• Underemployment Rate: Half Weight (~1.08 Points)
• Change in Nonfarm Payrolls (2017 vs. 2016): Full Weight (~2.15 Points)
• Change in Total Civilian Labor Force (2017 vs. 2016): Full Weight (~2.15 Points)
• Increase in Ratio of Full-Time Jobs to Part-Time Jobs (2016 vs. 2015): Half Weight (~1.08 Points)
• Median Annual Household Income Adjusted for Cost of Living: Full Weight (~2.15 Points)
• Growth in State Personal Income (2017 vs 2016): Full Weight (~2.15 Points)
• Government Surplus/Deficit per Capita: Full Weight (~2.15 Points)
• Unfunded Public Pension Plans per Capita: Full Weight (~2.15 Points)
• Share of Uninsured Population: Half Weight (~1.08 Points)
• Share of Population in Poverty: Full Weight (~2.15 Points)
• Foreclosure Rate: Full Weight (~2.15 Points)
• Growth in Number of Businesses (2016 vs. 2015): Full Weight (~2.15 Points)
• Fiscal Health: Full Weight (~2.15 Points)Note: This metric is based on the George Mason University Mercatus Center’s state fiscal rankings, particularly the State Fiscal Condition Index, which refers to the sum of cash, budget, long-run, service-level and trust-fund solvency indices for each state.
• Building-Permit Activity: Full Weight (~2.15 Points)Note: This metric measures the total number of new privately owned residential-building permits issued annually per capita.
• Average Educational Attainment of Recent Immigrants: Half Weight (~1.08 Points)Note: The educational attainment of recent immigrants aged 25 and older from a foreign country is classified as having either no high school diploma; a high school diploma or equivalent; some college experience or an associate’s degree; a bachelor’s degree; or a graduate or professional degree.
• Average Educational Attainment of Recent Migrants from Other U.S. States: Half Weight (~1.08 Points)Note: The educational attainment of recent migrants aged 25 and older from other states within the U.S. is classified as having either no high school diploma; a high school diploma or equivalent; some college experience or an associate’s degree; a bachelor’s degree; or a graduate or professional degree.

Innovation Potential – Total Points: 33.33

• Share of Jobs in High-Tech Industries: Full Weight (~5.56 Points)
• Share of Jobs STEM Professionals: Full Weight (~5.56 Points)
• Independent Inventor Patents per 1,000 Working-Age Population: Full Weight (~5.56 Points)
• Industry R&D Investment Amount per Total Civilian Employed Population: Full Weight (~5.56 Points)Note: “R&D” refers to research and development.
• Nonindustry R&D Investment Amount as Share of GDP: Full Weight (~5.56 Points)Note: “R&D” refers to research and development.
• Entrepreneurial Activity: Full Weight (~5.56 Points)Note: This metric is based on the Kauffman Index of Startup Activity, which is an equally weighted index of three normalized measures of startup activity, as defined by the Kauffman Foundation: the Rate of New Entrepreneurs (percentage of adults becoming entrepreneurs in a given month); the Opportunity Share of New Entrepreneurs (percentage of new entrepreneurs driven primarily by “opportunity” vs. “necessity”); and the Startup Density of a Region (number of new employer businesses, normalized by the business population).

Videos for News Use:

• YouTube (for web embedding National)
• YouTube (for web embedding Washington)
• Raw files (for editing into clips)

 

Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, Deloitte, United Health Foundation, U.S. Chamber Institute for Legal Reform, American Legislative Exchange Council, Mercatus Center at George Mason University, Council for Community and Economic Research, Renwood RealtyTrac, United States Patent and Trademark Office, National Science Foundation and Ewing Marion Kauffman Foundation.

Image: ShutterstockProfessional / Shutterstock.com

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