Figuring out your financing.

So, you have the best price imaginable from utilizing my other tips. Now, you need to finance.

1. Figure out how much your MAXIMUM payment can be monthly ahead of time (Eg. I can handle $500.00/Month) -> If you are comfortable at say $350 over 72 months, but can handle $420 over 60 months; do the 60 months (You will pay MUCH less interest).
2. Go through the options with your sales rep. Some vehicles offer 0% financing up to 72 months. Even if you planned on a 5 year contract, if you can get 0% for 6 years, why the fuck not take it right?
3. If you are buying during cash incentives (see: no 0% financing), make sure you verify with your salesmen a few things
1. What is the rate? (Sometimes 60 months will be 6.99% whereas 72 months is 7.99%)
2. Who are you financing through? (I find it's easier to get approved through the manufacturer)
3. How much interest am I paying overall in interest? (The longer you finance, the more you pay in interest.)
4. Is there a balloon payment? (Adding a bulk payment to the end of your finance to greatly reduce the payment. Many shady salesmen will do this without telling you. Eg. You pay $240 / Month for 60 months with a final payment of $18,000.00 + Tax)
5. Make sure to clarify the rate AND the term. I put people into 72 month or even 84 month terms if they don't specify because it brings the payment way down. You dont want a long term like this. (see: more interest)
6. Clarify if there is a down payment involved.
7. DOUBLE CHECK IF THERE ARE ANY ADMIN FEES. Another thing that even I do all the time is figure out a price with the customer, then throw back in the admin fee ($299.00) when they want a payment. Often, you won't even be able to tell it's there unless you brought a scientific calculator and your 15 yr nephew.

That's all I got for today. I'll hit on the common issues/shady shit of leasing probably tomorrow.

Cheers.

Something Different.

I'm seeing a lot of blogs these days on TF2, Halo, HoN, WOW and even LoL. However, all of these games, in my opinion, pale in comparison to the glory that was pre 1.6 Counterstrike. In lieu of a normal blog post today, I preset you instead with the greatest CS compilation video of all time.

I know, I know. This isn't what my blog is about, but I'm sure a lot of you played CS and will enjoy the break from my poor writing.




And just for ref, I've seen Ksharp play in person and that part of the video gives me the chills at how good he is/was.

Ups and Downs.

Just for reference, for anyone thinking about selling cars, here is an example of what can happen to your income at any time (my night tonight):

2007 Ford F-150 - Didn't get approved, co-signed failed. ($1,200.00)

2011 Lincoln MKX - Customers Backed out.                   ($500.00)

2010 Ford F-150 (Mentioned in earlier post) Cancelled    ($400.00)

                                                                                                                   

= $2,100.00 lost in one evening.

Feels bad man.

DO NOT Buy a Car Based on a Payment

I see this EVERYDAY and try to use it to my advantage whenever I possibly can.

• You are excited, with a budget (eg. $350/month). 
• You are more concerned about the payment than the actual price

This is a very very bad way to go about buying a vehicle. I always try and sell cars based on the payment rather than the price. Why? Because if you want $350/month, I can probably hit it without lowering the price, but extending the term of your finance. Also, you can guarantee that there will be admin fee's (atleast one) built into the payment.

ALWAYS and I mean ALWAYS figure out the price of the vehicle THEN get into some sort of payments.

Stay tuned for tips on making sure you don't get ass fucked with your financing, tomorrow!

Getting the best price.

So you want more ammo in order to get the vehicle for nothing?

Well, there is another answer, however it isn't free. I would recommend using this website regardless of what you are buying (provided it's a new vehicle), in addition to your ad's so that you know exactly what the dealer has into the vehicle. What's the website?

Car Cost Canada

This website will give you a detailed run down of the dealer msrp, invoice, holdback, financing & lease rates as well as the dealer incentives and kickbacks. Does it work for the USA? I have no idea! However, when buying a car in Canada, this tool is amazing.

Sign up.

Pick your vehicle.

Build it.

Print off the Car Cost Canada report.

Bring it with you and buy your vehicle for practically nothing.

Cheers.

Protip: Trading in your car.

It's VERY hard to trust a number put on your used vehicle when you are trading it into a dealership. In order to assure that you are not only getting the best price on the vehicle, but the best price for your trade, follow the previous protips and use this one as well.

• Avoid mentioning a trade with your salesman.
• Focus on the price of the new vehicle.
• If trade is brought up, say you are going to keep it or sell privately.
• Get the price for the new vehicle.
• Change your mind and say you are going to trade in your vehicle after all and request an appraisal.

Why is this necessary?

• Dealers will use gross profit on the new vehicle in order to inflate the value of your trade (eg, appraised at $4000.00, you want $6,000, so they take $2000 gross from the new vehicle and put it on top of your trade).
• This will ensure that you get the best price on the vehicle AND give you an idea of who is giving you the best honest price for your trade in.

Happy buying, until tomorrow!

Obvious Tip

Don't go into a dealership, sit down with a salesman and say:

"What's your best price/deal/lowest/etc"

I have never  seen this work to the customers advantage in any way what so ever, ever. Only thing you are accomplishing here is annoying your sales rep. This is what I picture every time I hear those words (which is very often):