Car Buying Tips
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Q & A
Q: Should I tell a salesperson how much of a monthly payment I am looking for?
A: As a hypothetical, let's say your answer is approximately $400.00. The salesperson will tell his Finance Manager your figure. When
your good credit report comes out it is determined you can finance your knew wheels at 6%.. The finance department will quickly figure out
you may be able to finance your purchase at two levels: an amount of $20,664 for $401 a month for 60 months or you may also finance
$23,714 for $400 for 72 months. With this in mind they could try to get you to finance for 72 months and in effect you will be paying and
additional $4,788 plus dollars! This figure will result in allowing an additional bonanza to the dealer. Short answer, you do not have to
volunteer a monthly payment amount if asked.
A: As a hypothetical, let's say your answer is approximately $400.00. The salesperson will tell his Finance Manager your figure. When
your good credit report comes out it is determined you can finance your knew wheels at 6%.. The finance department will quickly figure out
you may be able to finance your purchase at two levels: an amount of $20,664 for $401 a month for 60 months or you may also finance
$23,714 for $400 for 72 months. With this in mind they could try to get you to finance for 72 months and in effect you will be paying and
additional $4,788 plus dollars! This figure will result in allowing an additional bonanza to the dealer. Short answer, you do not have to
volunteer a monthly payment amount if asked.
Q: Where can I get new and used car prices?
A: Web Sites such as edmunds.com and kbb.com have comprehensive information on car values. Keep in mind that many factors enter
into the market value of cars, and you will rarely find uniformity as to its price. Use their figures as ball park values.
A: Web Sites such as edmunds.com and kbb.com have comprehensive information on car values. Keep in mind that many factors enter
into the market value of cars, and you will rarely find uniformity as to its price. Use their figures as ball park values.
Q: What basic advice would you give the average buyer?
A: Have a plan with regards to the car you need and want. Weigh the pros and cons with respect to its price, mileage usage, and reliability
of the vehicle. If you intend to finance your car, know what your credit score is. According to the Federal Trade Commission you are
entitled to an annual free credit report, and may get it by going online to: annualcreditreport.com. Get it and you will be better prepared
when facing the dealer's finance manager. Do not be intimidated when you venture out in your car buying quest. If you don't feel good
about the transaction or it doesn't sound appealing, say no. Do not be afraid to walk out of the dealership. There will always be tomorrow.
A: Have a plan with regards to the car you need and want. Weigh the pros and cons with respect to its price, mileage usage, and reliability
of the vehicle. If you intend to finance your car, know what your credit score is. According to the Federal Trade Commission you are
entitled to an annual free credit report, and may get it by going online to: annualcreditreport.com. Get it and you will be better prepared
when facing the dealer's finance manager. Do not be intimidated when you venture out in your car buying quest. If you don't feel good
about the transaction or it doesn't sound appealing, say no. Do not be afraid to walk out of the dealership. There will always be tomorrow.
Q: Why do you enjoy helping people buy their cars? What do you get out of it?
A: First, growing up in such a huge family of 9 brothers and 6 sisters allowed me to see how people can struggle and still succeed. From
humble beginnings our family was able to make do. Fortunately we were able to get to know our Creator, who is our all in all. At the same
time reaching out to help others became an easy undertaking.
Second, I began helping people as an auto advisor in 1978 quite by accident. Dad asked me to take my younger brother to a local dealer
and help him buy a car. I did, and Rick was happy with his spanking new maroon 1979 Chevy Monte Carlo. I also had the audacity to ask
the dealer that the price of the car and the financing charges be lowered. It worked and we saved just over $1,000 dollars! Not bad for a
start. From then on I began gobbling up all the information on car buying I could get my hands on. I continued to advise my brothers and
sisters on their car buying. I also helped my friends and my local church community. My joy was watching them succeed with smiles on
their faces and thousands of dollars of savings in their pockets. Working more than 20 years in the accounting departments of various
car dealerships also broadened my perspective. I saw the good, the bad, and the ugly. I have been working hard through the years to
try to make a difference, and, with the help of God, I feel I have.
A: First, growing up in such a huge family of 9 brothers and 6 sisters allowed me to see how people can struggle and still succeed. From
humble beginnings our family was able to make do. Fortunately we were able to get to know our Creator, who is our all in all. At the same
time reaching out to help others became an easy undertaking.
Second, I began helping people as an auto advisor in 1978 quite by accident. Dad asked me to take my younger brother to a local dealer
and help him buy a car. I did, and Rick was happy with his spanking new maroon 1979 Chevy Monte Carlo. I also had the audacity to ask
the dealer that the price of the car and the financing charges be lowered. It worked and we saved just over $1,000 dollars! Not bad for a
start. From then on I began gobbling up all the information on car buying I could get my hands on. I continued to advise my brothers and
sisters on their car buying. I also helped my friends and my local church community. My joy was watching them succeed with smiles on
their faces and thousands of dollars of savings in their pockets. Working more than 20 years in the accounting departments of various
car dealerships also broadened my perspective. I saw the good, the bad, and the ugly. I have been working hard through the years to
try to make a difference, and, with the help of God, I feel I have.
Q: I have a decent credit history. Why is it I didn't qualify for those super low interest rates seen on car ads?
A: When you see those super low interest rates on those car ads look at the fine print.. You may need a magnifying glass. Commonly
there appears something like W.A.C.which stands for "With Approved Credit. This means what they want it to mean. They may also say a
FICO score of 780 or higher. This wipes out about 80% percent of the buyers!! It doesn't seem fair does it? And thats they way they want it,
after all you will be able to qualify for their higher rates. My suggestion is fight their rates and stick to your plan. They'll bring the rates down.
A: When you see those super low interest rates on those car ads look at the fine print.. You may need a magnifying glass. Commonly
there appears something like W.A.C.which stands for "With Approved Credit. This means what they want it to mean. They may also say a
FICO score of 780 or higher. This wipes out about 80% percent of the buyers!! It doesn't seem fair does it? And thats they way they want it,
after all you will be able to qualify for their higher rates. My suggestion is fight their rates and stick to your plan. They'll bring the rates down.
| Car Confidence. Empowering You to a Successful Car Buying Experience. |
Q: What mistake do people keep making when buying a car and why do you think they make it?
A: The fact is that consumers go to dealers thinking they know what they are doing but most don't. The decks are stacked against them.
There are so many dealer scams. Car buyers are going to confront subtle pressures and some not so subtle ones. They will be
intimidated. They will be made to feel guilty. They will be pressured to buy today and fall for this scheme due to impulse tendencies. Of
course they will hear lies masked as truth. And finally they will hear many false promises.
This mistake of thinking they know is a matter of pride. When we confess to our lack of knowledge then we can go and search for the truth.
Strength is acquired once we admit to our weaknesses. And this strength is more powerful than brawn, for it comes from acquiring
knowledge. I pray that they do obtain the knowledge and then go into a successful car buying experience. This site is a good beginning.
A: The fact is that consumers go to dealers thinking they know what they are doing but most don't. The decks are stacked against them.
There are so many dealer scams. Car buyers are going to confront subtle pressures and some not so subtle ones. They will be
intimidated. They will be made to feel guilty. They will be pressured to buy today and fall for this scheme due to impulse tendencies. Of
course they will hear lies masked as truth. And finally they will hear many false promises.
This mistake of thinking they know is a matter of pride. When we confess to our lack of knowledge then we can go and search for the truth.
Strength is acquired once we admit to our weaknesses. And this strength is more powerful than brawn, for it comes from acquiring
knowledge. I pray that they do obtain the knowledge and then go into a successful car buying experience. This site is a good beginning.