Mr. E - : Automotive Projects
USED CAR PURCHASE GUIDE
AUTOMOTIVE TIPS - MR. E can help
USED CAR PURCHASE TIPS
Read this article from a undercover salesman who tells you the other side of the story.
My daughter needed a bit of help so for her this inspired me to share this.
Today we benefit from better oil and gasoline additives that keep engines and transmissions clean. Cars today last at least 100k miles and routinely get 200k miles and 10 years on the road.
LAST but NOT LEAST - Purchase.
Get insurance and loan info before you go to the Dealer.
If going through a dealer:
You will meet the Salesperson, maybe the Gen Mgr
Once you say you want XYZ the Sales person will fill out forms
Then the trip to the Finance Office. Even if paying cash or having a check from another finance company you will still go through this step.
The person will offer all these add on:
Under coating and 5 yr protection on body. etc. Cars really do not rust and all have under coating.
Warranty : Does the current one transfer? How much and what does it cover? Most do not cover maintenance. If the auto is at 40K or more and has a timing belt, it will need service at 60k at about 500 to 1000$
What does the add on warranty cover? Is it backed by the dealer?
This will be your choice.
GAP insurance: Guaranteed Auto Protection. The difference between what your car insurance pays in a total loss and what you owe to the finance company. If you put down less than 20% or are under in your auto loan you need this. Call around before you go to the dealer to get the best rate.
Under the new law, no one under age 21 can get a credit card unless a parent, guardian or spouse is willing to co-sign or unless the young adult has proof of sufficient income to cover the credit obligations.
At least start an account that has real money backing the credit card. Search for secured credit card. Some can be found for 300$. Only use real banks for your protection. Put in 300$ and get a Card. Make a small purchase each month and pay it off in full each time. Add more to your credit line by backing it up with money up to 600$. Make sure they report to credit agencies.
Go to your local bank, sit down and speak with them. Tell them about your job, the hours and the income. See if they can offer help.
Will need to arrange for insurance if your auto is financed. Including collision. Best way to bring down insurance cost is to increase your deductable.
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