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Where do you buy tires? We surprised a lot of people this week with this price comparison story that reveals a few things:
1. No matter where you go, the price of the actual tires will not vary much, but the price to install the tires can make a big difference.
2. Some retailers give you much more than just the tire and installation. Check for the extras that are included with the installation.
We discovered Sam's Club, Costco & Walmart all tied with the lowest price for tires and installation; but Sam's Club comes out on top because it is the only retailer that offers 3 years of 24/7 emergency roadside assistance with your purchase.
Pro tip: Discount Tire does price match its competitors. Since Sam's Club requires a membership, Discount Tire will not match its prices. In this case, you would ask Discount Tire to match Walmart's price so you can still get the benefit of free flat tire repair. You're welcome!
Recast your mortgage
My Action Item this week stems from something I did; and I just want to share the savings. I recast my mortgage and lowered my monthly payments by about a third of what I was paying.
Recasting is when you agree to make a big lump sum payment on your loan, usually 10% of what you owe. In exchange, your lender refigures your mortgage based on your new balance. Your interest rate stays the same. The length of your loan is the same. Only your monthly payment goes down.
Most big banks like Chase, Wells Fargo and Bank of America offer recasting; but they don't advertise it. VA and FHA loans can not be recast.
Call your lender and ask them if you can recast your loan. I did it this summer. The whole process took about 6 weeks; and we're now paying a much lower note for the next 15 years.
Take a break this Thanksgiving
Who does the cooking at your house for Thanksgiving? It's only 2 weeks away. You could give everyone a break and just enjoy each other's company. Here are more than a dozen restaurants and chefs that will prepare your whole meal for as few as 4 people! We broke down the least and the most expensive. Just looking at the list has me craving pie!
Have a wonderful weekend!
Don't forget to let me know if you have a story you want me to investigate or a product we can test. Reach out on my Facebook page (@KPRCAmyDavis) or send me an email to adavis@kprc.com.
Your consumer expert,
Amy Davis
KPRC Channel 2 News