TIME indycar

Aleshin Hospitalized After Fontana IndyCar Crash

Mikhail Aleshin
Mikhail Aleshin of Russia drives on track during practice for the IndyCar Honda Indy 200 race at Mid-Ohio Sports Car Course in Lexington, Ohio, on Aug. 2, 2014 Tom E. Puskar—AP

Rookie IndyCar driver Mikhail Aleshin was hospitalized in serious but stable condition on Friday night

(FONTANA, Calif.) — Rookie IndyCar driver Mikhail Aleshin was hospitalized in serious but stable condition Friday night after a frightening crash in the final practice session for the series season finale.

Aleshin was taken away from the Fontana track in an ambulance and airlifted to nearby Loma Linda University Medical Center. The Russian driver has broken ribs and a broken right collarbone along with a concussion and chest injuries, an IndyCar spokesperson said.

At least three drivers played a role in the crash in Turn 4, which had a gaping hole in the catch fencing and a wheel wrapped in the fence after Aleshin’s car violently flew up against it.

Aleshin, who drives for Sam Schmidt, spun when he went below the white line in the turn. He slid back up the track and collided with Charlie Kimball in a shower of sparks and smoke, sending Aleshin’s car flying into the catch fence while spinning.

Kimball improbably escaped serious injury, walking away from his ravaged car. Debris was strewn all over the track as safety personnel gathered around the wreck of Aleshin, who was removed on a stretcher.

Aleshin is the first Russian driver in IndyCar history, joining a team with title contender Simon Pagenaud this year after a career in open-wheel racing in Europe. He is 15th in the overall points standings with seven top-10 finishes this season, including a career-best fifth-place finish at the Grand Prix of Indianapolis in May.

The 27-year-old Aleshin also had several run-ins with Sebastien Bourdais earlier in the season, and he was involved in an unusual crash with Juan Pablo Montoya in Toronto.

Montoya was stalled in a tire barrier when Aleshin spun into the back of his car. Aleshin then slid under Montoya, leaving tire marks on Aleshin’s helmet and requiring a tow truck to lift Montoya’s car off Aleshin.

The two-mile Fontana track is a fast, high-banked oval with well-worn, bumpy and occasionally dusty asphalt, providing a challenge even for veteran drivers. Helio Castroneves won the pole for Saturday’s race with an average speed of more than 218 mph in his qualifying lap Friday, when temperatures reached 100 degrees in Fontana.

Although IndyCar racing on ovals can be spectacular, the risk factor is high. Dan Wheldon was killed in a 15-car accident in the 2011 season finale at Las Vegas, another high-banked oval.

The IndyCar series finale is scheduled for Saturday night. Aleshin was eighth in qualifying earlier Friday, easily the best finish by a rookie.

TIME Auto Racing

NASCAR Driver Tony Stewart: Deadly Incident Will ‘Affect My Life Forever’

Oral-B USA 500 - Practice
Tony Stewart, driver of the #14 Bass Pro Shops / Mobil 1 Chevrolet, speaks to the media prior to practice for the NASCAR Sprint Cup Series Oral-B USA 500 at Atlanta Motor Speedway on August 29, 2014 in Hampton, Georgia. Jamie Squire—Getty Images

Nascar champion Tony Stewart's car struck his fellow racer on Aug. 9

NASCAR driver Tony Stewart said Friday he remains heartbroken after he hit and killed fellow driver Kevin Ward in a racing crash three weeks ago. The comments come as Stewart, a champion driver, prepares to race again for the first time since the tragedy.

“I’ve taken the last couple of weeks off out of respect for Kevin and his family and also to cope with the accident in my own way,” Stewart said. “It’s given me the time to think about life and how easy it is to take it for granted. I miss my team, my teammates and I miss being back in the race car and I think being back in the car this week with my racing family will help me get through this difficult time.”

The incident, which occurred in a sprint car race in upstate New York earlier this month, shocked the racing world. Stewart’s car struck 20-year-old Kevin Ward, Jr. as Ward walked on the tarmac of the race track, apparently trying to flag down Stewart after a collision between the two drivers.

Stewart did not take questions at the Friday press conference, citing an ongoing police investigation of the incident.

 

MONEY Investing

35 Smart Things to Do With $1,000 Now

Andrew B. Myers

These moves can make you smarter, healthier, happier—and richer.

1. Buy 1 share of Priceline Group THE PRICELINE GROUP INC. PCLN -0.5117%
The fast-growing travel biz has just 4% global market share, leaving plenty of room to expand.

2. Buy 10 shares of Apple APPLE INC. AAPL 0.2445%
The Mac daddy has a dividend yield of 1.9% and a cheap price/earnings ratio of 14.1.

3. Buy 50 shares of Ford FORD MOTOR CO. F -0.0574%
The automaker has a P/E of 10.5, a 2.8% dividend yield, and a record (5%) market share in China.

4. Grab the last of the great TVs
While they’re considered superior to LCDs—for having deeper blacks and any-angle viewing—plasma TVs haven’t been profitable enough for manufacturers, so most are curbing production. LG is one of the last in the game, and its ­60-inch 60PB6900 smart TV (around $1,000) has apps to stream digital content and 3-D performance besting its peers. Get the extended warranty, since a service company would have to replace the TV if parts are no longer available.

5. Kick tension to the curb with yoga…
Half of workers say they’re less productive due to stress, the American Psychological Association found; worse, research from the nonprofit Health Enhancement Research Organization found that health care expenses are 46% higher for stressed-out employees. Regularly practicing yoga can help modulate stress responses, according to a report from Harvard Medical School. Classes cost about $15 to $20 a pop, which means that $1,000 will keep you doing downward dog twice a week for about half a year.

6. …Or acupuncture
A recent article in the Journal of Endocrinology found a connection between acupuncture and stress relief. Your insurer may cover treatment, but if not, sessions run $60 to $120 a piece. So you can treat yourself to around 10 to 15 with $1,000.

7. …Or biking
Research suggests that 30 minutes a day of moderate exercise can lower levels of the stress hormone cortisol. So take a bike ride after work. The ­Giant Defy 2 ($1,075) is one of the best-value performance bikes out there, Ben Delaney of BikeRadar.com says.

8. Give your kids ­a jump on retirement
Assuming your kids earn at least a grand this year from a summer job or other employment, you can teach them the importance of saving for retirement by depositing $1,000 (or, if they earn more and you’re able, up to $5,500) into Roth IRAs in their names. Do so when the child is 17, and it’ll grow to over $18,400 by the time he’s 67 with a hypothetical 6% annual return, says Eau Claire, Wis., financial planner Kevin McKinley.

9. Get over your midlife crisis
Would getting behind the wheel of your dream vehicle make you feel a teensy bit better about reporting to a 30-year-old boss? Then sow your oats—for 24 hours. Both Hertz and Enterprise offer luxury rentals; you can find local outfits by searching for “exotic car rental” and your city. Gotham Dream Cars’ Boston-area location rents an Aston Martin Vantage Roadster for $895 a day.

 

Andrew B. Myers

10. Iron out your wrinkles
For a safer and cheaper alternative to going under the knife, try an injectable dermal filler. Dr. Michael Edwards, president of the American Society for Aesthetic Plastic Surgery, recommends Juvéderm Voluma XC, which consists of natural hyalu­ronic acid that helps smooth out deep lines and adds volume to cheeks and the jaw area. It lasts up to two years and costs near $1,000 per injection.

11. Live out a dream
Play in a fantasy world with these adult camps, which cost in the neighborhood of $1,000 with airfare: the four-day Adult Space Academy in Huntsville, Ala. ($650); the Culinary Institute of America’s two-day Wine Lovers Boot Camp in St. Helena, Calif. ($895); or the one-day World Poker Tournament camp in Vegas ($895).

12. Hire someone to fight with your folks
Is your parents’ home bursting at the seams with decades of clutter … er, memories? Save your breath—and sanity—by hiring a profes­sional organizer (find one at napo.net) for them. Mom and Dad may listen more to an impartial party when it comes to deciding what to toss, says Austin organizer Yvette Clay. Focus on pile-up zones, like the basement, garage, and living room (together, $500 to $1,500).

13. Launch you.com
A professional website will help you stand out to employers, says Jodi Glickman, author of Great on the Job. Buy the URL of your name for about $20 a year from GoDaddy and find a designer via Elance​.com or Guru.com; $1,000 should get you a nice-looking site with a bio, blog, photos, and portfolio of your work.

14. Become a techie—or just learn to talk to one
Technical knowledge isn’t just for IT folks anymore. “Digital literacy is becoming a required skill,” says Paul McDonald, a senior executive director of staffing agency Robert Half International. Get up to speed with one of these strategies. Understanding how websites, videogames, and apps are built is useful to almost any job dealing in big data or search algorithms, says McDonald. Take a course in programming for nonprogrammers at ­generalassemb.ly ($550), then get a year’s subscription to Lynda.com ($375) for more advanced online tutorials.

15. Get tweet smarts
Take a class to give you expertise—and confidence— in using social media and analyzing metrics. MediaBistro’s social media boot camp includes five live webcast sessions for $511, and you can add four weeks of classroom workshops with pros for $449. #olddognewtricks

16. Buy the Silicon Valley gear
Need a new laptop now that you’re a tech whiz? To best play the part, go with Apple’s MacBook Air ($999) or its big brother the MacBook Pro ($1,099). With a long battery life and powerful processors, the Air and Pro are the preferred picks for developers, coders, and designers, says PCmag.com’s Brian Westover.

David Kilpatrick—Alamy

17. Save your cellphone camera for selfies
Your most important memories shouldn’t be grainy. Get a digital SLR camera featuring a through-the-lens optical viewfinder, “which is still essential for shooting action,” says Lori Grunin of CNET. Her pick, Nikon’s D5300 ($1,050). Its 18–140mm lens produces sharp images shot quickly enough for most personal photography.

18. Class up your castle
Interior decorating can cost a fortune—insanely priced furnishings, plus a 30% commission. Homepolish.com, launched in 2012 and now in eight metro areas, upends the model. The site’s decorators charge hourly ($130 or less) and suggest affordable furnishings.

19-21. Hire a good manager
With only 10 C-notes, your mutual fund choices are limited by minimum investment requirements. Besides simply letting you in the door, these actively managed funds have relatively low fees and beat more than half their peers over three, five, and 10 years:
Oakmark Select large blend; 1.01% expenses
Schwab Dividend Equity large value, 0.89% expenses
Nicholas large growth, 0.73% expenses

22. Primp the powder room
Get a new sink and vanity for a refresh of your guest bathroom without a reno. You can find a combined vanity and sink set for under $650; figure another $100 to $200 each for faucet and labor.

23. Replace light fixtures
Subbing in new lighting in the dining room, the front hall, and possibly the kitchen can take 20 years off your house, suggests Pasadena realtor Curt Schultz. You’re likely to pay $100 to $400 per fixture, plus $50 to $100 for installation.

24. Swap out the front door
It’s the first impression guests and buyers have of your home. Look for a factory-finished door—possibly fiberglass if it’s a sunny southern or western ­exposure without an overhang. You could pay $1,000 for the door and the installation.

25. Catch up on retirement.
If you’re 50 or older, you can put in $1,000 more in an IRA (above the $5,500 normal limit) each year. Do so from 50 to 65, and you’ll have $27,000 more in retirement assuming you get a 6% annual return, per T. Rowe Price.

Ingolfur Bjargmundsson—Getty

26. Fly solo to see the Northern Lights
As more companies package deals to Iceland, prices are dropping, says Christie McConnell of Travelzoo.com. You could recently find four-night packages with airfare, hotel, and tours for $800 a person. Go in late fall to see the Northern Lights.

27. Hit the beach in Hawaii
The islands are still working through the overbuilding of hotels that began before the recession, says Anne Banas of Smartertravel.com. Three-night packages for fall with hotel and airfare start around $500 a person from the West Coast.

28. Give your car a makeover
You can’t get a new set of wheels for 1,000 smackers, but you can make your old car feel new(ish) again with this slew of maintenance fixes: A new set of tires ($600), a full car detail ($100), new wiper blades ($50), a wheel alignment ($150), and a synthetic oil change ($100). You’ve likely been putting these off until something breaks, but there’s good reason to do them all at once. Besides giving your car a smoother ride, “this preventative maintenance will help you nurse your car longer, while also saving some gas,” says Bill Visnic, senior editor at Edmunds.com. New car smell not included.

29. Make like (early) Gordon Gekko
Wall Street buyout firms KKR and Carlyle are inviting Main Street investors into private equity funds for $10,000 and $50,000, respectively. Want to play the game with less scratch? Invest $1,000 in Blackstone GroupBLACKSTONE GROUP LP, THE BX 0.5699% . Shares of the private equity giant have a 5.1% yield and a cheap P/E of 8.5, plus Blackstone is a top-notch alternative-asset firm, says Morningstar’s Stephen Ellis.

30-32. Put your donations to work where they’ll do the most good
Groups that focus on improving healthcare in the developing world have some of the best measurable outcomes of all charities, says Charlie Bresler, CEO of The Life You Can Save. Many of the supplies used to improve and save lives, like vaccines or mosquito nets, cost pennies to produce, he says, and surgeries that cost tens of thousands in the U.S. can be performed for a few hundred bucks overseas. Three great organizations working in those areas: SEVA Foundation, which works to prevent blindness; Deworm the World, which seeks to eradicate worms and other parasitic bacterial disease; Fistula foundation, which provides surgical services to women with childbirth injuries.

33. Defend the fort
An alarm system can pare as much as 20% from a homeowner’s policy, and the latest ones have neat bells and whistles. Honeywell’s LYNX Touch 7000 (starting at $500, plus $25 to $60 a month) links to four cameras that stream live video. It randomly switches on lights to make an empty home look occupied—and can detect a flood and shut down water.

34. Enjoy a buffet of entertainment
The average cable bill is expected to hit $123 a month in 2015—or $1476 a year—according to the NPD group. What if we told you you could cut the cord, redeploy $1,000 of that to getting two years worth of the following digital libraries, and still bank about 500 bucks? Yeah, we thought so.
For old movies and TV shows…get Netflix ($7.99-$8.99/month). Analysts estimate the company’s library is much larger than that of Amazon Prime.
For current TV shows…watch via Hulu ($7.99/month), which offers episodes from more than 600 shows that are currently on air.
For music…stream with Spotify Premium ($9.99/month). The premium version lets you skip commercials and listen to millions of songs even offline.
For books…read via Kindle Unlimited ($9.99/month). You can access the company’s library of more than 600,000 ebooks and audiobooks with one of its free reading apps, which work Apple, Android or Windows Phone devices.

35. Protect your heirs.
For about $1,000 you can have a will, durable power of attorney, and health care directive written up. Find an estate planner at naepc.org.

Related: 24 Things to Do With $10,000 Now
Tell Us: What Would You Do With $1,000?

MONEY

Millennials Love This Old-Fashioned Company

The 2014 Ford Escape.
As millennials get older, they're more interested in SUVs and crossovers, like the 2014 Ford Escape. courtesy of Ford

You might think of Ford as the automaker your grandpa stubbornly stuck with for decades. Millennials think of Ford as something else—the auto brand they're most likely to buy right now.

It’s a common belief that millennials are indifferent to car ownership. They aren’t buying cars anywhere near the percentage rates of previous generations, and fewer young adults even bother to get drivers’ licenses. However, none of these factoids has stopped automakers from trying to win over the business of this huge demographic—which might not be flush with cash now but will surely represent a gigantic chunk of car buyers down the road.

A new study from Maritz Research shows that one automaker has been particularly successful over the past few years in appealing to millennials, and the name may come as a bit of a surprise: It’s Ford, the staid, century-old, all-American company from Michigan. According to Maritz surveys—which have been pumped up in a Ford press release—in 2008, Ford ranked fourth among millennials as the brand they’d most likely consider buying. (Honda and Toyota held the top two spots.) By 2012, however, Ford leapfrogged over the competition to grab the No. 1 ranking.

“The jump was really at the expense of the Asian-based manufacturers,” said Maritz Research vice president Chris Travell, who pointed out that General Motors has also improved in the eyes of would-be millennial car buyers. “The North American manufacturers are making better product than they ever have. You can’t say that they’re not reliable and aren’t good quality anymore.”

Millennials have taken notice. They also aren’t likely to have much memory of the auto world of decades ago, when the perception was that American cars were overpriced and would break down quicker and more often than many imports. “Millennials don’t remember the bad stuff,” said Travell. “They’re coming in as mostly clean slates. Ford is not considered the ‘old Ford’ to this generation.”

The automaker has been catching the eye of younger buyers with its focus on techie features (admittedly, not always successfully), and, most important, a lineup of vehicles and price points that appeal to their needs right now. From 2008 to 2013, more millennials became interested in crossovers and SUVs, and fewer wanted compacts and other small vehicles, which is the strength of Asian car manufacturers like Hyundai, Honda, and Toyota. “The trend of millennials starting families comes at the same time Ford is updating or replacing nearly its entire product lineup,” Amy Marentic, Ford global car and crossover marketing manager, said via press release. “These fastest-growing segments—like small utilities—coincide with Ford’s product strengths.”

Ford has also actively targeted millennials and strategically pursued them as customers now and, ideally, in the future. “One thing we recognized is that millennials don’t want to be just fed information and trust it, necessarily,” said Lisa Schoder, Ford’s global small-car marketing manager, according to Forbes. “So how can we be part of their lives and inform them about our brands and products without overtly advertising to them? That has been our critical differentiator. They need to participate in experiences versus just being spoon-fed something.”

Accordingly, Ford introduced Focus Doug, a “spokespuppet” (a sock puppet, actually) in a series of online videos, and used social media in a variety of other unorthodox, irreverent ways to put vehicles like the Focus, Fiesta, and Escape on the radar of millennials. The Wall Street Journal just reported on Ford’s recent efforts to win over female customers via programs like Live.Drive.Love, which invites women to take Ford cars on 24-hour test drives.

What does reaching out to women have to do with millennials? Well, overall among car buyers, less than 4 in 10 of purchases were made by women in 2013. But among millennials, 53% of buyers are female.

Young women who are starting families or just want more space for mountain bikes and other gear are likely to be intrigued with Ford models like the Escape and Explorer. And those with less need for space, or those with simply smaller budgets will be more likely to go with the subcompact route, via the Fiesta. As Ford crowed last summer, the Fiesta has been a big success in the 18- to 34-year-old demographic, and the Ford brand overall increased retail share among millennials by 80% from 2009 to 2013.

MORE:
10 Things Millennials Won’t Spend Money On
Check Out This Revolutionary Car-Buying Advice—Then Disregard It

MONEY Autos

Check Out This Revolutionary Car Buying Advice—Then Disregard It

steering wheel with clock in it
Valerie Loiseleux—Getty Images

Consumers have been told that everything car-buying experts have been advising about the best time to buy a new car is wrong. So what's the right approach now?

Earlier this summer, the car-buying research site TrueCar offered some stunning insights concerning car prices throughout the year. The takeaway from the numbers seemed to throw the conventional wisdom of when to buy a new automobile on its head. August, TrueCar data revealed, “has historically shown to have the lowest average transaction price of the year at $29,296.” After analyzing data from 2009 to 2013, the site concluded that consumers in August paid $716 less for a new car compared to all other months and declared that August may very well be “the best time of the year to buy a new car.”

What’s more, the numbers showed that Sunday is “typically the best day of the week to buy a new car,” with transaction prices that were $1,402 lower than the daily average, and that “the first two days of the month are the best time to shop for a new car,” because prices on those days represented an “average $390 in savings over the remaining days of the month.”

If you’ve ever read an article on the best time to buy a car, you’ll know that these tips basically spit in the face of the consumer expert consensus on the matter. For instance, a fairly boilerplate post from Kelley Blue Book offers this advice to shoppers who want to get the best prices on cars:

• Buy around the last day of the month — dealers have monthly sales quotas
• Buy at the end of the year — some dealers will clear out inventory for tax reasons

Meanwhile, analysts at Edmunds.com are regularly quoted saying things like, “December has become one of the best times of the year to buy a new car,” and virtually every article on car buying mentions advice along the lines of: “As you might guess, the end of the month is often a good time to buy a car, particularly if salespeople are trying to meet their quotas or qualify for a monthly bonus.”

What gives? Should we throw out the conventional wisdom on when to buy a car? Well, yes, says TrueCar CEO Scott Painter. “When you look at the real data, you see that you’re almost always better off doing the opposite of what conventional wisdom tells you to do,” Painter told CBS Moneywatch recently. “Unfortunately, much of the conventional wisdom is just wrong.”

The truth, however, is a lot more complicated than what Painter would have us believe. August may be a great time to buy certain kinds of cars, and the first couple of days of the month could be an opportune time to seal the deal. Then again, depending on the buyer and car model in question, those times might not be ideal to get the best price.

Here’s why, despite TrueCar’s seemingly groundbreaking analysis, the conventional wisdom on when to buy a car still holds up—even as TrueCar isn’t 100% wrong.

Let’s start with the business about the first couple days of the month. A representative for TrueCar replied to our inquiry about this issue by explaining via email, “the end of car sales month goes a few days into the next calendar month. Dealers are more eager to sell cars at the end of a ‘sales month’ to reach manufacturer incentive program sales targets for the month.”

In other words, car sales finalized on the first or second day of September generally count for August in terms of the purposes of the dealer’s and salesperson’s tally. So it’s somewhat of a matter of semantics: Yes, you still want to follow the conventional advice and buy at the end of the month—only be sure it’s the end of the dealership’s sales month, rather than the regular old calendar.

Now let’s move on to TrueCar’s data regarding average transaction prices, which are lowest in August ($29,296) and peak in December ($31,146), and what this actually means for buyers. On the one hand, sure, August tends to be a good time to buy because car dealerships are eager to get rid of leftovers from the previous model year and make space for the new, more in demand (and higher priced) models. On the other hand, it’s much too simple to state that the deepest discounts on leftover models take place in August and August alone. “The model-year changeover is another opportunity for a great time to buy,” said Kelley Blue Book analyst Tim Fleming, “but this has generally taken place more in the September-October timeframe rather than August.”

What’s more, the average vehicle transaction price in any month depends a lot on what vehicles people tend to be buying during that month. Fleming explained that December has the highest transaction prices because it’s an especially big month for sales of luxury cars and SUVs. It goes without saying that cars in these auto categories cost more than the average sedan, so when many of them are purchased, the average transaction price increases.

A closer look at the TrueCar data shows that the average incentive (a.k.a. dealership discount) is higher in months such as December ($2,686) and March ($2,746) than it is in August ($2,619), even as August has the lowest average transaction price. How could this be? It’s because the average sticker price of vehicles purchased in August tends to be lower than other months. To a large degree, cars cost less in August because people are buying cars that are cheaper to begin with. It’s not because cars are being discounted by a larger amount.

“Anyone generating an average of transaction prices would be remiss not to consider the mix of models being sold,” the car-buying experts at Edmunds.com said via statement, in response to an inquiry about TrueCar’s advice. “Edmunds.com’s data suggests that historically March has actually had some of the lowest average transaction prices over the past few years, and this is largely due to the types of vehicles that sold during the month.”

Finally, what about buying on Sunday? Let’s defer to some older insights from TrueCar on that matter. “Weekdays are better than weekends,” TrueCar advised car shoppers in 2010. “The fewer people on the lot, the more likely the dealer is willing to make a favorable deal.” TrueCar has also gone on record stating that one particular Sunday—Easter Sunday—is the absolute worst day of in the whole calendar year to get a good deal on a new car.

TIME Gadgets

Navdy Projects Apps Onto Your Car’s Windshield

My car’s in-dash navigation system did me wrong a few months back, sending me on a wild goose chase around the greater Boston area.

In a fit of despair, tears and anger-sweat, I finally relented, pulled over and used an ever-updated GPS app on my phone, which pointed me in the right direction in less than a minute.

Not long after, my car was due for one of its 10,000-mile checkups, at which point I asked the dealership to update the GPS software with the newest routes. Should be free, right? It’s not. They wanted $200. Give me an hour and I can make you a list of 100 things I’d rather spend $200 on.

What I could do is spend a measly $20 or less on a smartphone mount for my car, but that solution feels equal parts inelegant and unsafe, with all the docking and unlocking and app poking and whatnot.

I’ll admit to being intrigued by upcoming efforts from Apple and Google to more deeply integrate my phone into my car’s infotainment system, but this Navdy doodad looks pretty interesting as well. It’s basically a projection system that sits on your dash and beams a transparent interface onto your windshield.

 GPS system
Navdy

It’s compatible with Apple and Android phones, and taps into Google’s Maps app to display turn-by-turn directions near your line of sight. You can also make and take calls and respond to notifications — tweets, text messages and the like — with simple gestures (thumbs up to answer a call, left and right swipes to navigate) and voice commands. It lets you control music apps as well, and there are no monthly fees to use any of the features. The GPS system is always updated, in other words.

It’ll be available early next year, with pre-order pricing set at $299 until early September of this year. The regular price will be $499. That’s expensive, yes, but I like the idea of being able to take it quickly from car to car (I have 13 cars*). And just a quick note that the company is using a Kickstarter-like pre-funding system wherein it collects the money from pre-orders to help fund the production of the product. The whole “early next year” thing could be a moving target.

Here’s a demonstration video of the Navdy in action:

*We actually only have one family car, and my wife drives it most often. But imagine if we had 13!

MONEY Autos

WATCH: Behind the Wheel of the New Chrysler 200

The new mid-size sedan has an aerodynamic design reminiscent of cars from the 1930s — and some powerful engine options.

TIME Saving & Spending

5 Super Simple Secrets to Save Your on Car Insurance

5 Secrets to Save Your Teen Car Insurance
Jane Sob—Yellowdog Productions

Experts say many people aren’t taking advantage of steps to ease the costs of car insurance when their teens get behind the wheel

fortunelogo-blue
This post is in partnership with Fortune, which offers the latest business and finance news. Read the article below originally published at Fortune.com.

If you’re anything like me, you anticipated the birthday at which your teen was eligible for his (or her) road test with a combination of glee and dread. Glee because – finally – he could get himself to the tutor; she could pick up her little sister; your days as a chauffeur were coming to an end. Dread because you weren’t sure exactly how much adding this new driver to the family policy was going to cost, but you were sure it was going to be a lot.

I’ve been through the experience now twice. And I can tell you that you’re right on both counts. It is incredibly liberating to have another driver in the family. It is also tres expensive! Car insurance costs an average 79% more when a married couple adds a teenage driver to the family policy, according to a new report from InsureQuotes.com. Boys, as you’ve heard, boost costs more than girls – by 92% compared to 67%, respectively. And costs vary widely depending where you live. In New Hampshire, Maine and Rhode Island, premiums jump by more than 100%, while in New York and Michigan the increases are relatively reasonable at about 55%.

Say it with me: Ouch!

For the rest of the story, go to Fortune.com.

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