Good as New
The alternative to new car sticker shock is a reliable used car. Remember these pointers when you start looking.

used car may turn out to be one of your smartest purchases. For one thing, a used car is much cheaper than a new one even when it's still quite young. And these days the quality can be surprisingly high. That's partly because so many drivers lease cars and return them to the dealer after only a few years on the road.

You can get a great deal on a used car if you've done the research. Unlike a new car, a used one has a history you can investigate. The last thing you want is a lemon sitting in your driveway. Here's what you should know before you close the deal:

Do your homework. Begin by checking the reliability record of the car you want to buy. Two good sources are Edmund's Used Cars and Trucks Prices and Ratings and Consumer Reports. Find wholesale and retail prices through Web Carbook, found on www.navyfcu.org. Expect to pay between wholesale and retail.

A dealer vs. a private seller. Many times, you can find a better price from a private seller who advertises in a newspaper, but that doesn't mean you should avoid car dealers. With a private seller, you aren't as protected if you're unhappy with the vehicle.

In addition, dealers-but not private sellers-must post a Buyer's Guide in every used car. The Buyer's Guide tells you if the vehicle being sold has a warranty; what percentage of repair costs a dealer will pay under warranty; and major problems you should watch for on the particular car. Don't rely on promises that aren't written down.

With a private seller, check the vehicle's title to make sure the seller is the legal owner. Before you buy, check the warranty and service contract to see if they are transferable.

You can also sometimes find great used car deals on the Internet.

Kick the tires. When looking at cars, be thorough. Before buying, take the car for a test-drive in varied road conditions (bumper-to-bumper traffic, highways and hills).

Bring an inspection checklist. It doesn't take a car expert to find trouble spots on a vehicle. Look for rust, especially around the fenders, lights and bumpers, splash panels, wheel wells and under the trunk carpeting. Look for paint that doesn't quite match, misaligned body panels or a door that closes unevenly-this could indicate a past accident the seller is trying to cover up. Be sure all mechanical parts work properly, including the radio, heater, air conditioner and windshield wipers. Look under floor mats and seat covers for wear and tear.

When you go on your test-drive, bring a friend along to observe the exhaust emissions. Unusual smoke could indicate expensive repairs in the future. During your test-drive, if you see the yellow “check engine” light go on, you should get an electronic diagnostic test as well (usually $100-$125). If the seller won't agree to a test-drive or an inspection, find another deal.

Finally, have a mechanic check the car thoroughly. Ask him for a written estimate of repair costs, and then use this to negotiate for a better price. Or, for greater peace of mind, you could have a vehicle inspection and appraisal service look at the car. This costs about $100. A technician will check the vehicle's mechanical and cosmetic features including brakes, tires, exhaust, seat belts, hoses, steering and evidence of body repair.

Avoid Unnecessary Credit Card Fees
Read a little and learn a lot.

o those 0% introductory APR (annual percentage rate) offers look too good to be true? They probably are. When you read the “fine print,” you'll see that the low APRs often last for only a certain number of months and come with other conditions, as well.
For instance, with some cards, you can't get the introductory rate unless you transfer a credit card balance from another financial institution. Others charge higher APRs for different types of transactions, such as cash advances. Some increase the APR if you have been late with your payment two or more times in a six-month period. These “penalty” APRs are charged in addition to a Late Payment Fee.
Here's what you should look for in the fine print. See chart below.