Better Interest than Bank Rates

Certificates of Deposit/Term Deposits:

Those banking vehicles that typically tie up your money for six months or longer and pay higher interest rates are on their way back. Several years ago consumers were avoiding CDs as rates were miniscule, almost embarrassing. Today, certificate of deposit/term deposits rates have risen considerably up to 7.75%. Are you looking for a great certificate of deposit rate? If so, read on and we'll explore just how you can get more money for your money.

Why leave your money in a poor performing bank account paying one percent or less? Sure, liquidity is important but did you know that some banks are paying more than five percent for your money? In some cases you can find online banks paying high rates too for everyday savings accounts, let alone certificate of deposits and cash management accounts.

The best ways to find great rates are as follows:

  • Shop on Online - Let your mouse to the clicking and head over to Bankrate.com and the Motley Fool to read up on money trends. Bankrate will actually provide great rate information and articles while the Motley Fool offers terrific advice for visitors. Google a search for "certificate of deposit" and you can almost guarantee that the first ten results are mostly banks offering these investment options. Pick one, any one and go directly to their site.
  • Ask Around - Chances are your financial friends and investment buddies already know about great places where you can park your money. Some will suggest ING Direct, a brokerage house, yet another may point you to the local branch of that big savings bank.
  • Your Bank - Yes, you guessed it. Overlook your current financial institution and you may be missing out on the best buy going. Contact your bank to see what they have to offer you. It could be that the best rate is where you already do most of your banking.
  • Rates are subject to change without notice however when it comes to Certificate of Deposits/Term Deposit once you open up your account, the rate that you will be paid will remain constant for the life of the certificate of deposit/Term Deposit.  Long term rates may not be advisable at this stage, as the Interest Rate could change quite quickly,and if you need the money and have to recall the Certificate of Deposit/Term Loan the rate will be cut back to the lower rate for the term the money was invested.

Yes, why settle for less when it comes time to invest your money? You needn't be held hostage by those thinking they are doing you a favour by paying you a piddling amount for your hard earned money. Instead, shop around for the certificate of deposit deal/term deposit that is certain to help you create wealth and stave off inflation.

Remember though, you pay the full marginal rate of income tax on all interest earned, and there is no chance to offset the value.  However at the present time in the market  - having Cash can be very helpful.

30 Day Return - If for some reason you are not satisfied with your purchase, you can return the vehicle within 30 days for a refund. Restrictions apply.

Some dealers are also sweetening their own offers by offering free gasoline for several months. This offer could shave another $500 off of the price of a Dodge Dakota or Jeep Commander bringing these vehicle's final price lower by several thousand dollars off of the sticker price.

So, if a larger less fuel efficient vehicle is something that you want, and then there is no time like the present to jump in and buy one. Expect GM and Ford to follow and perhaps Toyota and Nissan to do the same with their larger vehicles such as their pickup trucks.

Some tips for getting cheaper cars

  • Research all aspects of the transaction before going to the dealership.
  • Print out prices from the manufacturer's Web site and Edmunds.com and bring the printouts with you.
  • Decide how you will finance the vehicle ahead of time: purchase, lease or pay cash.
  • Check your credit or get preapproved financing before you go to the dealership.
  • Make sure you know about any additional rebates being offered on the vehicle you want to buy. Rebates are deducted from the negotiated price.
  • If you want to try to negotiate below the employee discount, do this by getting comparative quotes from competing dealerships through the Internet.
  • Steer clear of additional products and services offered in the finance and insurance office when you sign the contract.
  • The price of your trade-in is still negotiable. Don't assume that you're getting such a good deal on the new car that the trade-in price doesn't matter.

Finally, remember that the most important thing is that you get the right car for you, one that suits your needs. If you get the wrong car it won't be a good deal, no matter what you pay for it.