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2. 2. 2 10 TOP CAR BUYING TIPS for STUDENT DRIVERS and PARENTS! By Sarah Lee Marks Personal Car Dealer www.mycarlady.com
3. 3. 3 Start with a PLAN 1. Homework Rules and Objectives. 2. Picking the Right Car New vs. Used. Insurance. 3. Budget checklist. 4. Cash Auto loan Lease? 5. Kicking tires. 6. Total cost and Hidden expenses. 7. Contracts. 8. Registration. 9. Service. 10. Warranties.
4. 4. 4 Do your homework FIRST ! Go online, library, and at the dealership. www.NHTSA.gov, www.edmunds.com, www.autobytel.com, www.kbb.com, www.fueleconomy.gov, www.dealershipwebsite.com Consumer Reports, Car & Driver magazines. Collect product brochures.
5. 5. 5 MAKE A COMITTMENT: TEEN PARENT CONTRACT. GPA Curfew SAVING for down payment. LAWS and liabilities. DRIVECAM.com GPS-Buddy Electric Fence
6. 6. 6 BEFORE U TEST DRIVE: CALL the INSURANCE AGENT. Get prices on your 3 top picks. CALL competing insurance companies. Ask about GPA and student driver forgiveness programs. Make sure the insurance company has not increased the bill for a student driver while he/she is on a learning permit. ADD GAP to the insurance coverage of any FINANCED vehicle the student is driving. Nevada law states you must have full coverage insurance when you have a loan or lease on a vehicle.
7. 7. 7 BUDGET CHECKLIST MONTHLY PAYMENT: ___________ Monthly GAS: __________ Monthly Insurance: ___________ Monthly Registration: _____________ Service maintenance: _____________ Total: _____________ DOWN PAYMENT: ___________ (rebate) TRADE-IN Value: ___________ Student Monthly income: 10.00/HR x 15 hrs. per wk = $150.00/100.00 after taxes. X 4 wks. = $400.00 CAN YOU AFFORD A CAR?
8. 8. 8 TALK ABOUT CREDIT Good, or Bad Credit 90% can still get a car loan. First Time Buyers no bad credit of any kind. Recent College Graduate holding a degree from a college/university or 2 yr. professional school can get a new car loan in their OWN NAME, without a co- signer.. Down Payment matters!
9. 9. 9 CREDIT APPLICATION DO NOT GIVE YOUR SOCIAL SECURITY NUMBER OUT UNTIL YOU ARE READY TO BUY!
10. 10. 10 The HIGH price of cars New: Whats in the car: MSRP=Sticker Consider the standard features and model package co$t between brands. Add up the dealer add-ons: Window tint, pinstripes, Video player, Chrome rims. Factory warranty= calculate the value. New vs. Used; What makes sense for you?
11. 11. 11 VS. PREOWNED THINGS TO LOOK FOR WHEN SHOPPING FOR A USED CAR: CRAIGS LIST: NO PAYPAL. CHECK IT OUT: Take the car to an independent mechanic. MIS-MATCHED PAINT WORN PEDALS Door, Hood, Trunk Alignment Magnet Test Over-Spray Smells SALVAGE, REBUILT, TOTALLED on the Title. Clunks, Squeals, Screeching or Whistling when you drive.
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13. 13. 13 DEALERSHIP VISITS. LIMIT your Test Drives to 3 a day-your top three choices ? Make a test drive appointment, be sure the car is still there. Listen to the car. Compare handling, line of sight, comfort. Look the car over carefully before you leave. SUVPS: SAFETY, UTILITY, VALUE, PERFORMANCE and STYLE. ?
14. 14. 14 The Price is not the Price? DEALER FEES: Documentation, Vehicle Theft, Desert Protection, Prep. TAXES and Registration. EXTENDED SERVICE CONTRACTS. GAP protection. EXTRA BLING: Sirius/XM, LoJack, Rims, DVDs.
15. 15. 15 TRUE STORIES Reputations and Reviews www.RATETHEDEALER.com XXXXXXSUCKS.com GOOGLE: XYZ Dealership PROBLEMS DEALERATER.com: Cars.com YELP WHEN READING REVIEWS Read between the lines. Did the reviewer only rate 1 dealership, and badly. How did the dealership respond? Some review websites insist on payment from dealers to provide the latest reviews. Ask your friends, not strangers. Consider the source. make your own judgment.
16. 16. 16 BUYER BEWARE! My salesman told me I ran a CarFAX report I thought it had a The NV Lemon Law will protect me! ESL Dont understand something? 3 Day Right of Rescission ? Elderly protection. Dont mess w/Grandpa.
17. 17. 17 AFTER THE SALE BUT we had a contract! WE OWE or DUE BILL? Get all promises in writing. RE-SIGNING for a different payment, more money down or a different car. Problems in the first 30-90 days? Bring it back to the dealer
18. 18. 18 MY PROMISE TO YOU. Before you buy your next car email me. Advice is FREE with MyCarlady. Sarahlee@mycarlady.com Ill help you get the straight answers, no hassles and the best deal.
19. 19. 19 Sarah Lee Marks 25+ yr. veteran of the Automobile industry. Author, Television and Radio talk show host; CAR CHAT. Certified & Licensed Automotive Sales Executive. 1st woman honored for Sales Excellence by Lexus 1991. Founder of SMARTeen DRIVER Car Care Clinics
20. 20. 20 Thank you! Sarah Lee Marks Aka: MyCarlady 25+ years in the car business, I love helping people get a great deal! Follow me on FB at Mycarlady-sarahlee Twitter: Mycarlady Instagram: Mycarladysarahlee