November 30, 2010 shop online at www.broadcasteronline.com Page 5 DAVE SAYS: College kids don’t need new cars Dear Dave, I’m 24, and I’m finishing up college. I’ve been driving an old, used car for a while now, and I’m thinking about getting a new one. I’ve managed to save up about $30,000 from my jobs, but every time I go to a car dealer they want me to finance a new car instead of paying cash for one. What do you think I should do? Devon Dear Devon, Who gives a crap what the car dealers want? This is your purchase, not theirs. Besides, the only reason they want you to finance is so they’ll make a lot more money off the deal. Dude, you’re a 24year-old college student who has been smart enough and industrious enough to scrape up $30,000 over the last few years. You don’t need to throw a huge chunk of that into something that’s going to go down in value like a rock. New cars lose 60 percent of their value in the first four years. A $28,000 car would be worth around $11,000 after that period of time. That’s not what I call a smart investment. You don’t need a brand-new car, Devon. Once you’ve got a million dollars in the bank, then you can go out and buy a new car. For now, you need to stick with good, used, low-mileage vehicles that are about three or four years old. If I were in your shoes and had your budget, I’d shop around and pay cash for a cool little $10,000 car. You can get a great automobile for that kind of money, plus you’ll still have the majority of your savings sitting there! —Dave in my savings account, even with all the penalties. What do you think? Cecilia Dear Cecilia, So, you want to cash out retirement, and take a penalty, to buy an investment property. And on top of that you’re going to take on debt, too? This is like combining two dumb things into one big mess. I don’t think so! I understand the allure of real estate. I love real estate. But it’s pretty obvious you’ve never been a landlord. Bringing in $1,500 and paying out $1,200 sounds good to you, but there’s also a lot of risk involved, and that’s something you haven’t figured into the equation. Sometimes you have places that just sit there empty. Other times you have renters who don’t pay, things that need fixing, or people who just tear stuff up. The idea that you’re going to make a bunch of money off this situation is pure fantasy. Don’t go there! —Dave * For more financial help, please visit daveramsey.com. No, no, no! Dear Dave, Should I take $20,000 out of my thrift savings account to use as a down payment on an investment property? My payment would be $1,200 a month, and I could lease it for $1,500 a month. It will also give me a better return than if I left it Looking for the best deal in town? Check the classifieds today! BROADCASTER 624-4429 It’s A Natural Clean, quiet and ef?cient. 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Thank You to the following sponsors for their support of the Vermillion Citywide Clean-up Burger King Cherry Street Grille Community Chiropractic Center CorTrust Bank D&D Pest Control Dakota PC Warehouse Dakota Realty Dimmick Painting Family First Chiropractic First Bank and Trust First Dakota National Bank Graphic Edge Great Plains Therapy Heartland Smiles Henderson’s Exhaust Herren-Schempp Building Supply Houska Dental Clinic Hy-Vee Jeff Solomon Jere Chapman Jones Food Center Knutson Family Dentistry Latte Da Lorraine Swee Main Attraction Mid-American Energy Murph’s Appliances Olson Medical Clinic PrintSource Quality Motors Rasmussen Motors Recuerdo’s Mexican Restaurant R-Pizza Sanford Health Saunder’s Chiropractic Sturdevant’s Auto Parts Subway Texas Roadhouse Vermillion Armory Vermillion Chiropractic Vermillion Dental Health Vermillion Federal Credit Union Vermillion Ford Vermillion Vision Clinic 888-427-5632 Estate Farm Equipment Auction Saturday, Dec. 4th @ 12-Noon LOCATED: 31535 478th Ave., Elk Point, SD; From Akron, IA: 6 miles West on Hwy 48, 2 miles South on County Rd 2, 1 mile East OR from Elk Point, SD: 5 miles North on Hwy 11, 1 mile East on Hwy 50, 4 miles North on County Rd 2, 1 mile East, 1/4 mile South OR from Richland, SD: 1 1/2 miles North on Lawrence Rd, 2 1/2 mile Northeast on 478th Ave. TRACTORS & EQUIPMENT: JD 3010, nf, 3pt, 2 Hyd. SN #26532, good rubber, $3,700 just spent on the tractor-5400 hrs. w/ Westendorf WL-42 loader-good cond.- sold as a unit IH 300 gas, nf, runs good; IH 1000 sickle mower 3pt gopher machine-good condition;NH 1010 Stackliner; Speeco 3pt Hyd Log splitter Shaver; Hyd Post pounder; JD #34 m. spreader-good cond; NI #324 2RW Picker w/ husking bed & sheller attach; IH #350 15’ tandem disc; Bush Hog 840 3pt 6’ Rotary mower-good cond; Heider Auger wagon(2) barge box wagons; Triggs PT endgate seeder-good cond; NI #301 2R mnt picker; Gehl #55 Hammer Mill; Sudenga 40’auger; Kewanee wide type elev. 36’; IH 4B 2pt plow; 5 sec drag w/ cart; 15’ land Roller; 18’ bale elevator; NH 6 wh. Rake; JD 494 4R planter; 3pt bale mover; 7’ sweep auger; Road drag, IH 4R frt mnt cult.; Flat bed; JD #5 sickle mower; 5” port. Auger w/ elec motor; bale loaders PICKUP, COLLECTABLE EQUIPMENT – BOOKS: 1969 IH #1100 Pickup 4spd, V8, 99K miles-runs; JD 200A S.P . swather; (2) JD #30 combines; IH 1-row corn binder; IH 2R frt mnt cult; Dump Rake, JD PT Swather; Horse Cult, Tumble Bug, JD 15’ straight disc, AC 3B PT Plow, JD 2B PT Plow on steel; Potato Digger, Steel Wheels, IH Steel Wh. Rake, (2) Clipper Fanning mills, Harvey Red Head – Corn Sheller-Belt Driven; Hammer mill, old m. spreaders; IH 1B Horse Plow, JD 12’ straight disc; IH 2B PT plow on rubber; Misc Harness; Hand corn sheller; Imp Books, IH Buyer’s Guides; MISCELLANEOUS: Poulan #300 19 1/2 hp riding mower 42” Deck Yardman 5hp mower; tractor chains, tires, tarps, (2) 300 gal OH tanks; trailer load of misc tools, chains, jacks, wood cribbing, tarps, elec fence post, mis tanks, feeders, 10 K&O free stalls, live trap, Rd Bale feeders, 15.5 X 38 duals, misc old iron; NOTE: Much of this equipment is older, but has been shedded and in good condition. TERMS: Cash, Good Check, Visa, MasterCard. SD Sales tax applies. 301.92 Acres of Clay County Land AT AUCTION Monday, Dec. 20th @ 10:00 a.m. LAND TO BE OFFERED IN 3 OPTIONS LOCATED Corner of 305 St. and 458th Ave.: From Wakonda: 3 South & 3 East or from Volin: 7 East and 1 North. In case of bad weather, auction will be held at the Wakonda Legion Hall (please call). Rick Lawrence (712) 540-8099 and Sylvia Lawrence; Co-Personal Representatives Girard Auction & Land Brokers, Inc. d n d , ) (605) 267-2421 www.GirardAuction.com Toll Free: 1-866-531-6186 l : Marv Girard, BA #12399; Ken Girard, CAI, AARE Broker #10183; Mike Girard BA #13549 STANLEY LAWRENCE ESTATE – OWNER Option 1: 161.26 taxable acres, SE 1/4 sec 12-94-53 Clay county, SD. Clay County FSA office shows 131 acres of farmland w/ 103 acres now under cultivation w/balance into CRP , Pasture and an old building site. There is presently 15.46 acres into CRP and is under contract to 2016. New buyer must agree to fulfill the contract. FSA yields are 92bu corn and 30bu beans. Predominant soil type EbA with a productivity rating of 88%. Taxes are $3,029.84. Option 2 (located directly across the road to the east) 140.66 taxable acres, S 1/2 Lot 2 NW 1/4 and lot 2 SW 1/4 and S 1/2 Lot 1 of SW 1/4 all in Sec. 7 – 94-52 Clay County, SD: FSA : office shows 68.94 cropland w/ balance into pasture. Predominant soil types include EbAEaA-EdB with soil ratings from 84% to 88%. Taxes $1,767.34 Option 3: A combination of options 1 and 2. Terms: 10% non-refundable down payment due day of auction with balance due December 30, 2010. Title Insurance and Closing costs split 50/50 between buyer and the seller. Clay County Title Co., closing Agent. Seller to pay 2010 taxes due in 2011. Possession on closing with new buyer getting the rights of the 2011 farming season. Auctioneers are acting as agents for the sellers. Selling subject to sellers approval. Note: Make sure to have your financing in order and prepared to close before the 1st of the year. A rare opportunity to add a significant amount of quality, Clay County Farmland to your operation or investment portfolio. See web for maps & photos or call for a free property information packet. Owners: Cecelia M Ambrose, Patricia A Hayden, Kay L Murray, & Michelle C Stoor. Girard Auction & Land Brokers, Inc. (605) 267-2421 www.GirardAuction.com Toll Free: 1-866-531-6186 Marv Girard, BA #12399; Ken Girard, CAI, AARE Broker #10183; Mike Girard BA #13549