Wednesday, November 28, 2007
free credit check
go to www.annualcreditreport.com and you can check your credit for free. Its the free site mandated by the government, it will not tell you your score but tell you all your accounts that are open and there balances.
Tuesday, November 20, 2007
car buyer 101, lots of tips and tricks!
don't make an impulse decision to buy a car. Its typically the second biggest purchase you make. It impacts your future based off of the decision you make. Make sure you do the following before buying a car.
Decide what kind of vehicle fits your needs, is it: Style, Utility, Value (Basic Transportation), Performance, or Safety. Maybe it is a combination of two or more of those values.
Then once you found the vehicle you want, new or used. Price Shop the closest matches that are acceptable to you.
Remember two things regarding financing with little or no downpayment: 1. If you finance longer than 60 months, you will be upside down, which is owe more money than the car is worth. Also, if you buy a car and then tried to trade it or sell it within 27 months, you will probable be upside down unless it is a short term contract.
If you always want a new car every 3 years, you need to seriously consider leasing. Many people think leasing is a four letter word. But think of it this way, if your whole life you always finance cars and trade them in with payoffs and finance another car, you never own any of those cars the bank does. And if you can lease every 3 years, you never need gap insurance and or extended warranties. The car is under factory warranty, the first 3 years of the cars life if when it is least likely to break, after the recalls and any initial problems have been fixed, if any. Any scratches, dents, stains smaller than a credit card are waived (according to chrysler financial). For 200 to 400 dollars a $5000 damage insurance policy can be included, as well. Mileage is typically between 10,000 and 15,000 miles per year, the less per year, the higher the residual value of the vehicle at the end of the lease. You also can buy the or finance the leased car at the end of the lease and pay off the remaining value of the car. If you drive high mileage, you need to purchase, and pay it off as soon as you can. Buying miles, the cheapest is 12 cents a mile at initial lease signing, going over at the end is typically 15 to 20 cents.
When buying a used car, make sure it comes with some sort of basic 3 month, 3,000 mile warranty if it is out of factory warranty. Get it inspected by a qualified legit independent mechanic, who won't want to make the money off of fixing your new vehicle. If the price is right, get the extended warranty or service contract if it covers everything, and is backed by a solid dealership that has been in town for years.
Try to stay away from vehicles that rental cars mostly buy. Here is a following number of vehicles that their kelley blue books, and nada values are way over inflated of their real cash value (* note the kelley blue book is more inflated the newer the vehicle is, book gets more accurate over time): ford taurus, most all ford mustangs, ford f150, chevy trailblazer, chevy equinox, chevy impala, chrysler sebrings, chrysler pt cruisers, chrysler aspens, chrysler pacifica, chrysler crossfires, dodge rams, base dodge nitros, dodge neon, dodge caliber, jeep grand cherokee, hyuandai, kia
All Hondas that are late model will have a higher kelley blue book than what they go for on a brand new window sticker. i.e. lookup a 2006 or 2007 honda pilot and get a kelley, then look at edmunds.com at what invoice is. Toyota has the same problem, like with prius's. <-- remember a yaris is way cheaper, and the gas won't pay the difference by the time the batteries are no good, or any other compact car with good gas mileage, your buying to save the environment, not to save money.
Make sure you shop for the best rate. Credit unions, and banks that finance 66 months and less have the best rates, if buying new sometimes the manufacture has the best interest rate, they subvent standard going interests rates, when you forgo the consumer cash back. Like right now you can get either $3000 for a 2007 silverado crew cab or get zero percent financing for 72 months. If your credit is less then 680, you won't get the best rate. Good credit is 720 and higher. Remember if you can eliminate all credit card balances a month before you buy a car. It will make your credit score
jump, if you have no other bad credit history. Also save some downpayment so you finance no more than 100% of kelley blue book or the window sticker, or invoice. Financing more can make your interest higher. Remember the less of a risk you look to a lender, the lower the rate.
Remember when buying a car don't be jerk or lie to the salesperson, if the car salesperson is being the classic stereotypical salesperson, leave or make that person turn you to another salesperson. If they aren't listening to you, or trying to help you, then they don't deserve your business.
Watch out for the dealerships that involve a considerable drive to get to them. They may lie over the phone to get you there, tire you out, and then hope you get to frustrated to leave without buying and settling. I've seen many of times with people that live in small towns, and think the big dealer far away is better. Not true, all dealers pay the same for brand new cars, they all have the same dealership agreement. The question is, how is that dealership operated, does it have a big overhead? better employees? How much profit does the dealership get? Sometimes paying a little more is worth it. You may find a problem with a car later that they will be more helpful in fixing.
cheaper prices will get you cheaper service. Car buying can be an enjoyable experience if you prepared. Be in control, be honest, and deal with honest people and you have a good experience.
lastly, any promises, extra keys, bedliner, floor mats, etc... by the dealership, get in writing.
Decide what kind of vehicle fits your needs, is it: Style, Utility, Value (Basic Transportation), Performance, or Safety. Maybe it is a combination of two or more of those values.
Then once you found the vehicle you want, new or used. Price Shop the closest matches that are acceptable to you.
Remember two things regarding financing with little or no downpayment: 1. If you finance longer than 60 months, you will be upside down, which is owe more money than the car is worth. Also, if you buy a car and then tried to trade it or sell it within 27 months, you will probable be upside down unless it is a short term contract.
If you always want a new car every 3 years, you need to seriously consider leasing. Many people think leasing is a four letter word. But think of it this way, if your whole life you always finance cars and trade them in with payoffs and finance another car, you never own any of those cars the bank does. And if you can lease every 3 years, you never need gap insurance and or extended warranties. The car is under factory warranty, the first 3 years of the cars life if when it is least likely to break, after the recalls and any initial problems have been fixed, if any. Any scratches, dents, stains smaller than a credit card are waived (according to chrysler financial). For 200 to 400 dollars a $5000 damage insurance policy can be included, as well. Mileage is typically between 10,000 and 15,000 miles per year, the less per year, the higher the residual value of the vehicle at the end of the lease. You also can buy the or finance the leased car at the end of the lease and pay off the remaining value of the car. If you drive high mileage, you need to purchase, and pay it off as soon as you can. Buying miles, the cheapest is 12 cents a mile at initial lease signing, going over at the end is typically 15 to 20 cents.
When buying a used car, make sure it comes with some sort of basic 3 month, 3,000 mile warranty if it is out of factory warranty. Get it inspected by a qualified legit independent mechanic, who won't want to make the money off of fixing your new vehicle. If the price is right, get the extended warranty or service contract if it covers everything, and is backed by a solid dealership that has been in town for years.
Try to stay away from vehicles that rental cars mostly buy. Here is a following number of vehicles that their kelley blue books, and nada values are way over inflated of their real cash value (* note the kelley blue book is more inflated the newer the vehicle is, book gets more accurate over time): ford taurus, most all ford mustangs, ford f150, chevy trailblazer, chevy equinox, chevy impala, chrysler sebrings, chrysler pt cruisers, chrysler aspens, chrysler pacifica, chrysler crossfires, dodge rams, base dodge nitros, dodge neon, dodge caliber, jeep grand cherokee, hyuandai, kia
All Hondas that are late model will have a higher kelley blue book than what they go for on a brand new window sticker. i.e. lookup a 2006 or 2007 honda pilot and get a kelley, then look at edmunds.com at what invoice is. Toyota has the same problem, like with prius's. <-- remember a yaris is way cheaper, and the gas won't pay the difference by the time the batteries are no good, or any other compact car with good gas mileage, your buying to save the environment, not to save money.
Make sure you shop for the best rate. Credit unions, and banks that finance 66 months and less have the best rates, if buying new sometimes the manufacture has the best interest rate, they subvent standard going interests rates, when you forgo the consumer cash back. Like right now you can get either $3000 for a 2007 silverado crew cab or get zero percent financing for 72 months. If your credit is less then 680, you won't get the best rate. Good credit is 720 and higher. Remember if you can eliminate all credit card balances a month before you buy a car. It will make your credit score
jump, if you have no other bad credit history. Also save some downpayment so you finance no more than 100% of kelley blue book or the window sticker, or invoice. Financing more can make your interest higher. Remember the less of a risk you look to a lender, the lower the rate.
Remember when buying a car don't be jerk or lie to the salesperson, if the car salesperson is being the classic stereotypical salesperson, leave or make that person turn you to another salesperson. If they aren't listening to you, or trying to help you, then they don't deserve your business.
Watch out for the dealerships that involve a considerable drive to get to them. They may lie over the phone to get you there, tire you out, and then hope you get to frustrated to leave without buying and settling. I've seen many of times with people that live in small towns, and think the big dealer far away is better. Not true, all dealers pay the same for brand new cars, they all have the same dealership agreement. The question is, how is that dealership operated, does it have a big overhead? better employees? How much profit does the dealership get? Sometimes paying a little more is worth it. You may find a problem with a car later that they will be more helpful in fixing.
cheaper prices will get you cheaper service. Car buying can be an enjoyable experience if you prepared. Be in control, be honest, and deal with honest people and you have a good experience.
lastly, any promises, extra keys, bedliner, floor mats, etc... by the dealership, get in writing.
Saturday, November 17, 2007
A Car Buyers Market
Everyday it more and more becomes a car buyers market, if you are looking for a brand new vehicle, big rebates are out there. Lately, the price of new vehicles have been going up, the 2007 Scion TC compared to 2008 Scion TC has gone up $700 dollars. Thats a lot of money for a car prices under $20,000 dollars.
The Chrysler Group has sold just under 33,000 retail sales this month to people across the country. That number is the amount of vehicles dealerships have sold, not how many vehicles Chrysler has sold to rental car companies and dealerships, which they report to wall street. Dealerships are piling up on Chrysler vehicle inventory, automotive news quoted a 90 day supply for chrysler.
Friday, November 16, 2007
zero percent rebates
2007 Models
offers started 11/15/2007
currently are going until 1/3/2007
Term
12-36 37-48 49-60 61-72
Buick
Lacrosse 0.00 0.00 0.00 1.90
Lucerne 0.00 0.00 0.00 1.90
Terraza 0.00 0.00 0.00 1.90
Cadillac
XLR (excl. V) 0.00 0.00 0.00 1.90
XLR-V 0.00 0.00 0.00 1.90
SRX 0.00 0.00 0.00 1.90
Escalade EXT 0.00 0.00 0.00 1.90
Escalade SUV 0.00 0.00 0.00 1.90
Escalade ESV 0.00 0.00 0.00 1.90
Chevrolet
Aveo 0.00 0.00 0.00 1.90
Cobalt 0.00 0.00 0.00 1.90
Cobalt SS 0.00 0.00 0.00 1.90
Malibu 0.00 0.00 0.00 1.90
Malibu Maxx 0.00 0.00 0.00 1.90
Monte Carlo 0.00 0.00 0.00 1.90
Impala 0.00 0.00 0.00 1.90
HHR 0.00 0.00 0.00 1.90
Colorado 0.00 0.00 0.00 1.90
Silverado 0.00 0.00 0.00 1.90
Avalanche 0.00 0.00 0.00 1.90
Equinox 0.00 0.00 0.00 1.90
Tahoe 0.00 0.00 0.00 1.90
Suburban 0.00 0.00 0.00 1.90
Uplander 0.00 0.00 0.00 1.90
Express 0.00 0.00 0.00 1.90
Pontiac
Solstice 0.00 0.00 0.00 1.90
G5 0.00 0.00 0.00 1.90
G6 0.00 0.00 0.00 1.90
Grand Prix 0.00 0.00 0.00 1.90
Vibe 0.00 0.00 0.00 1.90
Torrent 0.00 0.00 0.00 1.90
GMC
Canyon 0.00 0.00 0.00 1.90
Sierra 0.00 0.00 0.00 1.90
Acadia 0.00 0.00 0.00 1.90
Yukon 0.00 0.00 0.00 1.90
Yukon Denali 0.00 0.00 0.00 1.90
Yukon XL 0.00 0.00 0.00 1.90
Yukon XL Denali 0.00 0.00 0.00 1.90
Savana 0.00 0.00 0.00 1.90
Saab
9-5 0.00 0.00 0.00 1.90
Saturn
Sky 0.00 0.00 0.00 1.90
Aura 0.00 0.00 0.00 1.90
Aura Hybrid 0.00 0.00 0.00 1.90
Outlook 0.00 0.00 0.00 1.90
Relay 0.00 0.00 0.00 1.90
offers started 11/15/2007
currently are going until 1/3/2007
Term
12-36 37-48 49-60 61-72
Buick
Lacrosse 0.00 0.00 0.00 1.90
Lucerne 0.00 0.00 0.00 1.90
Terraza 0.00 0.00 0.00 1.90
Cadillac
XLR (excl. V) 0.00 0.00 0.00 1.90
XLR-V 0.00 0.00 0.00 1.90
SRX 0.00 0.00 0.00 1.90
Escalade EXT 0.00 0.00 0.00 1.90
Escalade SUV 0.00 0.00 0.00 1.90
Escalade ESV 0.00 0.00 0.00 1.90
Chevrolet
Aveo 0.00 0.00 0.00 1.90
Cobalt 0.00 0.00 0.00 1.90
Cobalt SS 0.00 0.00 0.00 1.90
Malibu 0.00 0.00 0.00 1.90
Malibu Maxx 0.00 0.00 0.00 1.90
Monte Carlo 0.00 0.00 0.00 1.90
Impala 0.00 0.00 0.00 1.90
HHR 0.00 0.00 0.00 1.90
Colorado 0.00 0.00 0.00 1.90
Silverado 0.00 0.00 0.00 1.90
Avalanche 0.00 0.00 0.00 1.90
Equinox 0.00 0.00 0.00 1.90
Tahoe 0.00 0.00 0.00 1.90
Suburban 0.00 0.00 0.00 1.90
Uplander 0.00 0.00 0.00 1.90
Express 0.00 0.00 0.00 1.90
Pontiac
Solstice 0.00 0.00 0.00 1.90
G5 0.00 0.00 0.00 1.90
G6 0.00 0.00 0.00 1.90
Grand Prix 0.00 0.00 0.00 1.90
Vibe 0.00 0.00 0.00 1.90
Torrent 0.00 0.00 0.00 1.90
GMC
Canyon 0.00 0.00 0.00 1.90
Sierra 0.00 0.00 0.00 1.90
Acadia 0.00 0.00 0.00 1.90
Yukon 0.00 0.00 0.00 1.90
Yukon Denali 0.00 0.00 0.00 1.90
Yukon XL 0.00 0.00 0.00 1.90
Yukon XL Denali 0.00 0.00 0.00 1.90
Savana 0.00 0.00 0.00 1.90
Saab
9-5 0.00 0.00 0.00 1.90
Saturn
Sky 0.00 0.00 0.00 1.90
Aura 0.00 0.00 0.00 1.90
Aura Hybrid 0.00 0.00 0.00 1.90
Outlook 0.00 0.00 0.00 1.90
Relay 0.00 0.00 0.00 1.90
Thursday, November 15, 2007
used car front collision check
carfax is not 100% accurate, many times a car doesn't get reported. Pop the hood on the vehicle your looking at, check the bolts on each side of the quarter panel, do they still have factory paint on them, or has a wrench been used on all of them and taken the paint off. has the core support been replaced? On older cars sometimes it is necessary to take some of the bolts off to work on the vehicle. Also, check the welds on the car, you'll see the difference between a person who did a welding job and a factory robot.
Run your hand over the paint, check how it feels, run your hand on the end of the door jam, if feels smoother, its been repainted. Clear coats wear away over time, a repaint on an area will have more clear coat. If you look real close on good lighting you can see paint blending, where the color doesn't match. a good painter will make unnoticeable.
Run your hand over the paint, check how it feels, run your hand on the end of the door jam, if feels smoother, its been repainted. Clear coats wear away over time, a repaint on an area will have more clear coat. If you look real close on good lighting you can see paint blending, where the color doesn't match. a good painter will make unnoticeable.
Rebates end on 11/19/07 for GM Products
I expect better incentives after 11/19/07. It could be the start the red tag event, to clear out 2007 models. If that is the case get their soon, as the vehicles with the good options will run out first. Right now the best rebate is zero percent for 60 months on crew cab half ton Silverados with the new bodystyle, the old bodystyle which only a few are left carry 6,000 dollars off in rebates.
The new Malibu has every dealer in the country wanting a bunch, don't expect any discounts on them for a while. It took the new Tahoe about 1 year until dealers started heavily discounting them.
The malibu hybrid is worth looking into, from a monatary standpoint. It price difference from a regular malibu is better than the camry and altima, and it gets a good federal tax deduction on your tax return where you get the savings.
The new Malibu has every dealer in the country wanting a bunch, don't expect any discounts on them for a while. It took the new Tahoe about 1 year until dealers started heavily discounting them.
The malibu hybrid is worth looking into, from a monatary standpoint. It price difference from a regular malibu is better than the camry and altima, and it gets a good federal tax deduction on your tax return where you get the savings.
Wednesday, November 14, 2007
New Low Auto Loan Rate
US Bank is offering 5.55% APR up to 66 months on a 2007 and 2008 brand new vehicles through dealerships that have an agreement with US Bank in Oregon, you must finance 90% of MSRP, and be a 700 Beacon score and/or higher. Minumum amount financed is 7,500 dollars. Most people will qualify with a high credit score, and good debt to income, as always, subject to credit approval from US Bank.
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