Firm Newsletter

Special Report - Are Longer Car Loans a Good Deal?
If you are thinking about purchasing a new car be very careful about asking for a longer new car loan. Some people think longer loans are better deals since the monthly payments are less. A fact that you should consider is that a car’s value depreciates. According to www.edmunds.com approximately 40% of new car buyers end up owing more money on their car at the time of the trade in than the car is worth. This means when people trade cars they have to borrow more money, and/or use their saving to get rid of their old vehicle. A few years ago 2-4 year car loans were common. Now some people get 6 and even 7 year car loans. In fact, industry records show that more than 80% of new car loans are longer than 4 years.

Anyone who purchases a new car should be aware that most new cars depreciate in value approximately 30% in the first year. There’s a rule of thumb that it is never a good idea to borrow money for something that depreciates. Longer new car loans make the situation even worse. You should also consider the longer the loan the larger the amount of interest you end up paying.

Before agreeing to a 5-8 year car loan answer the following questions:

• How are you going to feel about making a payment on the car you are purchasing 6 or 7 years from now?

• If the car depreciates in value how would you get out of the loan if you needed to?

• What happens if the car needs repairs? Will you be able to pay both the repair bills and the car payment?

One thing you do not want to do is allow the car salesman to convince you that a good option is to pay off your old car loan by borrowing additional money through a new car loan. This would mean that you are borrowing more than the total value of the new car. If you do this the problems above will simply multiply.

Although most people don’t like to admit it, the best thing that you should consider is to buy a late-model pre-owned car and pay cash for it. If you cannot afford to do that, make sure you prepare a budget and you have adequate income to pay the monthly payment.

Some experts advise if you truly insist on purchasing a new car put at least 5-15% down and try to pay the car off in 2-3 years.

Getting Personal - Bicycle Helmets

In our ongoing program with Bell Sports Inc. and Safe Kids program, we intend to continue supplying the Wabash Valley with bicycle helmets as long as there is demand. If you or anyone you know needs a bicycle helmet stop in and pick one out. We have sizes for toddlers through adults.

Four steps to Cleaner Indoor Air

According to the U.S. Environment Protection Agency (EPA), the air inside U.S. homes may be two to five times more polluted than outdoor air. Here are a few steps to have cleaner air in your home.

• Keep your home as clean as possible. Getting rid of the dust and dust mites can dramatically improve the air you are breathing.

• If you have a forced air heating system, have the air ducts cleaned and sealed internally.

• Improve your air filters on your furnace. You should upgrade to a pleated filter because they can capture smaller particles. You should change these filters once every couple of months.

• Consider an indoor purifier. Be you know if you will be breathing easier.

St. Patrick’s Day

The patron saint of Ireland, St. Patrick, was born some 1,500 years ago in what is now known as Great Britain. He was born to a relatively wealthy family and given the name Patricius. He was not particularly religious as a youth and claimed to have practically renounced the faith of his family. Then, when he was about sixteen, he was kidnapped by a group of Irish marauders, transported to Ireland, and sold into slavery to a local warlord. During his captivity, he worked as a Shepard and prayed to the Christian God. After six years, he escaped the pagans who held him captive and returned to Great Britain.

He we convinced that he was handpicked by God to convert the entire country of Ireland to Christianity. When he returned home, he studied the priesthood with the intention of returning to Ireland as a missionary to his former captors. While it is not known how long he studied before returning to Ireland, it is believed to be somewhere between twelve and twenty years. It is neither clear as to how long he ministered there, but it was definitely a number of years.

While there are many legends surrounding St. Patrick, we know he never chased the snakes out of Ireland. Snakes were, at that time, a symbol of Paganism. It was the conversion of the Pagans which, more than likely, is the basis of this myth. Further, we will never really know whether he used the shamrocks to teach converts about how the Father, the Son, and the Holy Spirit could all exist as separate elements of the same entity is a traditional Irish tale, which cannot be proved but is certainly an adopted belief.

The fact we know anything about him is as great a miracle as any traditions ascribed to him. Patrick is literally the only individual we know from fifth century Ireland or England. Not only do no other written records from Britain or Ireland exist from that century, but there are no written records from Ireland prior to Patrick’s. While the chronology of his life is very confused, experts agree that the two examples of his writing that we have are clearly written by the same man, who we know as Patrick. These two brief documents, Patrick’s “Confession” and his “Letter to Coroticus,” are the basis for all we know of the history of Patrick. His purpose in his “Confession” was to recount his call to convert the Irish and to justify his mission to Britain. It is not a traditional biography. The “Letter to Coroticus,” who was apparently an Irish warlord whom Patrick was forced to excommunicate, is an illustration of Patrick’s prowess as a preacher. By the time he wrote these, he was recognized by both Irish natives and the Church hierarchy as the bishop of Ireland. He made a permanent commitment to Ireland and intended to die there. Scholars have no reason to doubt that he did.

Health Tip - Medication Safety

The do’s and don’ts of taking prescription and nonprescription drugs.

DO follow dosage recommendations. Due to medical advances, dosages today tend to be very precise for your age, weight and the minimum amount needed to reach the treatment goal without causing any side effects.

DON’T stop taking a drug just because you feel better. You should continue with the schedule that the doctor prescribed. Otherwise, you might have a relapse of your condition or get an unwanted side effect.

DO avoid eating foods that could counteract with your medication. Most pharmacies have printouts that can tell you what will counter-act with certain medications.

DON’T share your medications with anyone else. Remember that the prescriptions are prescribed for your body, not someone else’s.

DO call your doctor is you are taking a nonprescription medicine and it is not working. If you are still feeling sick after 3-5 days of taking the medication, you should call your doctor. You condition may be more serious that you know.

Free Consultation!

Have you been injured?  Contact an Indiana or Illinois injury lawyer at Fleschner, Stark, Tanoos & Newlin.  Our office is located in Terre Haute, but we have successfully advocated for clients throughout the area, including Urbana-Champaign, Decatur and Springfield.  Complete a Free Online Consultation Form or call us toll free at 1-800-618-4878 to contact us today.