At $2500, the Tato Nano is the cheapest car in the world. But you can't buy it in the US and some argue that this will never happen. Safety issues, labor costs, and union concerns will keep the car in India for a very long time.

Click here to see the Tato Nano in action.
Other stories in automobiles and auto insurance:Auto insurance rates are falling: Data are showing that many Americans feel that they are paying too much, and companies are answering the call.

Ten Ways to Lower Your Auto Insurance: This article provides a helpful list of things you can do to ensure that you're paying the lowest price possible to protect your vehicle.

Car Insurance fraud on the rise during the economic downturn: Since there are many Americans who cannot afford to make their car payments, they are turning toward fraud to get their vehicles off their hands.

Reasons you might want to buy travel insurance: While not all of your trips will be taken in a car, you may want to consider what would happen in the event that you are injured in another state or another country. Imagine being hurt in Africa and having to be flown all the way back to the United States? Who would pay the cost for that? Given that an ambulance ride down the street can cost $1,000, one can only imagine the cost of transporting someone across the earth.


Dr. Boyce Watkins is a Finance Professor at Syracuse University and a leading black speaker. To have Dr. Boyce commentary delivered to your email, please click here.