The Loch Ness monster is real - uh, that is to say, it's a real myth. For true believers, the date of note is 1933. That's the year that Nessie's most famous photo - her head and neck rising above the surface of the water - was taken by a doctor on vacation. It's called "The Surgeon's Photo" since the guy who took it didn't want his name publicized. Can you imagine? For skeptics, the date to remember is 1994. That's when the photo was proved through photographic analysis to be... well, perhaps just wishful thinking. The scientific community regards the Loch Ness Monster as a modern-day myth. Interest and belief in the Loch Ness Monster have fluctuated widely since she was brought to the world's attention. Maybe like the surgeon who took her photo, she just doesn't want to be famous.

Cryptozoological tales are not the only myths you should concern yourself with. There are a lot of questionable ideas floating around about the best way to buy a used vehicle. "But Jack," I hear you say, "Wouldn't I be better off buying a new car instead of a used one?" My point exactly. The very fact that you would find it necessary to ask this question brings us to Myth #1 about you and your new car. When I say "new," of course, I mean "new to you." In spite of the U.S. Government's recent porkfest called the Cash For Clunkers rebate program (which cost taxpayers an additional 50 cents for every dollar the government gave away to certain new car buyers), buying a new car is quite possibly the third worst thing you can do with your money. I would have to say, in my sober and subjective opinion, that gambling is the second worst thing you can do with it, and the absolute worst thing you can do with your your hard earned cash is to stand on the street corner and set hundred dollar bills on fire. But I digress.

So when your average monthly car maintenance bill is greater than the price of a car payment, it's time to move on. Buying a used car is the only way to go, for one simple reason. Buying a brand new car means that when the dealer hands you the keys, you have performed the virtual equivalent of standing on the street corner and setting hundred dollar bills on fire. The moment you drive that baby off the lot you've lost thousands upon thousands of dollars in value. Like that new car smell? It comes in a bottle at the car wash for $6.95. Splurge.

I Didn't Want A Rolls Royce Anyway

Aside from the myth that buying a brand new car is a good idea, there are other myths that a big spender on a budget must be wary of. One such myth is the idea that buying a used car with a reputation for quality will mean less maintenance during the life of the car. However, any used car is only a good buy if the previous owner properly maintained said vehicle. Again, I submit to you that appearances do not necessarily equate to fact. (I refer you to paragraph 1 of this post.) I know a guy, a car salesman, who asserts that Rolls Royce, while possessing a fine reputation, is built with Lucas electronics - a brand notorious for its lack of reliability. Sooner or later, if you buy a car for reputation alone, you might have a major headache on your hands in short order. Don't be lazy, do your homework.

On the subject of record keeping, you are no doubt already aware that many a myth has been told about a car's desirability in order to sell it. Let's take a look at a couple of tools you can use to do a little digging into the background of the vehicle that is your heart's desire. The federal government has set up the National Motor Vehicle Title Information System (NMVTIS) at www.NMVTIS.gov to track totaled vehicles and prevent their resale. Currently, 28 state motor-vehicle agencies participate or contribute to NMVTIS, and others are working toward participation. All states are required to be fully on board by Jan. 1, 2010.  Another tool you can use is Carfax at www.Carfax.com which may not be free, but it has proved reliable in producing information about a given car. Reports include title problems, accident, flooding, ownership history, mileage, air bags deployed, and a host of other handy data.

Whether you go through a dealer or a private party, buying anything used comes with a risk. Still, the judicious purchase of a reliable used vehicle can have the effect of transforming your wallet and even your life. It's no myth that taking the time to do a little homework can pay big dividends - money that you could use on your next trip to, oh, maybe, Loch Ness. ...Yeah, like that.

For more great tips on buying a used car, along with consumer interest rates and gas prices, click on over to SectorMatic Money Site at www.SectorMatic.com/car-buying. It's for you!

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Until next time,
Jack Schmidt
Spokesman

SectorMatic Money Site
Everything for the Big Spender on a Budget

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