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SMART MONEY A COLUMN BY BRUCE WILLIAMS

Low interest usually best in new car deal

Tuesday, October 8, 2013 - 8:37 am

Q.: I want to purchase a new car, but I am confused. I see all the commercials offering cash back, gas cards, low interest rates, etc. How do I choose which company to buy from? I will be financing. – Reader, via email

A.: You ask an interesting question that has no simple answer. They are all going to make money on the transaction .

In more cases than not, accepting the lower or no interest for the entire length of the loan is the best choice, but unless you take a close look at all the offers being made, you will never know if you are getting the best possible deal.

Q.: Is it possible to transfer funds from one money market fund to another without paying tax on that amount? It is a traditional IRA. – R.A., via email

A.: If the money is in a money market account and it's already in an IRA, which is protected until such time as money is withdrawn, you can have it transferred from one money market account to another. Unless it's a huge amount of money, in which case there would be a minor amount of tax.

I am also assuming you are having a broker handle the transfer. Explain your concerns on tax matters and ask the best way to accomplish the transfer.

Send questions to bruce@brucewilliams.com. Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided.