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buying Car Salesman Confidential: 7 Tips for the First-Time Buyer

20:23  14 december  2016
20:23  14 december  2016 Source:

Car Salesman Confidential: How To Use Carfax, Part 1

  Car Salesman Confidential: How To Use Carfax, Part 1 Tough nearly ubiquitous, Carfax reports can be confusing if you don't know how to read them. Car Salesman Confidential is here to demystify the reports.Well . . . no. A few months ago a couple came in wanting to trade their 2002 Ford Escort. They still owed money on it and were concerned they might be "upside down," or owing more for the vehicle than it was worth. Their instincts proved correct. One of the first things any car dealership does when appraising a trade is to run a Carfax on it.

When you're getting a car stereo for the first time , you wanna ask yourself, ""What are you looking to get out of this stereo? Are you looking to play a form of media that you couldn't play before? Like an iPod?

First , a little history: Car buying began in parallel with the first car sold. And despite credit given to Karl Benz for the automobile's invention, we've not An important note regarding referrals: Get the referral before taking another salesman 's time for a walkaround and demo. Most of these people work on

Car-Salesman-Confidential-1024-6804© Motor Trend Staff Car-Salesman-Confidential-1024-6804

Everybody remembers their first car.

Mine was a 1964 1/2 Ford Mustang, Guardsman Blue, with a 289 and a four-barrel carburetor. Although it was over ten years old when I bought it, it had only 1800 miles on it-- and the window sticker was still in the window. It even smelled new. I loved that car. Unfortunately, a drunk driver rear ended me while sitting in traffic one day and that was the end of my beloved Mustang.

Almost everyone remembers his or her first car fondly. But not everyone remembers their first buying experience so fondly -- especially if they financed it. What most first- time buyers hear when they try to buy a car is "Sorry, you'll need a cosigner and/or a lot of money down." I've said this to so many First Time Buyers I'm almost blue in the face. Guardsman Blue.

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Becoming a first - time home buyer can be overwhelming. Try these 17 tips to make saving for, finding and buying your dream home a breeze. Comparing mortgage rates from at least three lenders can save you more than ,500 over the first five years of your loan, according to the Consumer Financial

Whether you're 22 or 52, being a First Time Buyer isn't easy. The fact is, we live in a credit-based society, and people who pay cash for everything their entire lives are not rewarded. In fact, if you haven't financed anything in the past ten years, you may be stunned to learn you cannot finance a vehicle without a co-signer and a substantial amount of money down -- no matter how old you are or how responsibly you've managed your money.

What makes buying your first car so difficult? Well, the people with the money -- the lenders -- have only one thing to go by when deciding whether to approve a loan: your credit history. But a first-time buyer doesn't have any credit history. From a lender's point of view, that makes loaning them a large amount of money a risky proposition. So what does a person with no credit history (and no suitcase full of cash) do if they need a car? Here's my advice. First . . .

A bluffer's guide to the 2016 SEMA show

  A bluffer's guide to the 2016 SEMA show Looking forward to this year's SEMA Show? Me too. Here's a novice's survival guide and some of theStarting November 1st, this will be my fourth SEMA show that I've been to. For the first, in 2013, I went as a buyer with my partner Sean, who as a veteran in the business had been both a buyer and exhibitor. We arrived mid-week, toured the acres and acres of exhibitors, visited with a number of vendors Sean was working with and blasted off after a couple of days.

First - time home buyers often make mistakes Estimate your home value First - time homebuyer tips Homebuying: what to expect FHA loans Get the “That’s a growing pain for the first - time homeowner, when stuff breaks,” says John Pataky, executive vice president of the consumer division of EverBank.

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The most common mistake people with little or no credit history make is to pick out a low-priced car, something well under $10,000, thinking it should be easier to get a loan on a cheaper vehicle and their payments won't be very big. There is a certain amount of logic to this. Lenders certainly don't want people trying to finance large amounts of money their first time out. And yes, a lower price usually results in lower monthly payments, unless you're a first time buyer.

The reason a cheap car isn't always the answer: A car that costs less than $10,000 is usually an older car with higher mileage. And lenders don't like to loan money on old cars with high mileage, particularly anything more than seven or eight years old with over 100,000 miles. So even if a lender is willing to loan you the money, they'll limit the term -- that is, how long they'll give you to pay them back -- and charge you a higher interest rate. The shorter term-- 48 months versus 60, for example-- and the higher rate combine in a one-two punch to give you a higher payment. On the other hand, if you buy a newer car, a lender may be willing to give you as long as 72 months to pay it back, and offer a much lower rate. Generally speaking, the older the car and the higher the mileage, the harder it is for the First Time Buyer to obtain financing. Look for something 3 to 5 years old with lower miles (but still not too expensive), and take advantage of the longer term and lower rate.

Tips For Buying (or Selling) A Used Bike

  Tips For Buying (or Selling) A Used Bike ©Motorcyclist Is high mileage a deal-breaker for you? Before you say yes, take into consideration the bike's condition and model-year. Do the math! When shopping for a used bike, most buyers look at condition, price, and mileage. Conventional wisdom says the average rider logs 3,000 to 5,000 miles a year. If that’s the case, why do so many bikes seem to have above-average mileage? That’s not just an idle observation; I’m seeing more high-mileage bikes for trade-in than ever. ©Motorcyclist A Ninja 250 with only 214 miles on the clock? Sold! The why. Simple, it’s the recession. Those who felt the effects of the recession decided that the bike they were riding would suffice and purchasing a new or newer bike wasn’t a necessity. This decision added a few years to the length of ownership, which added more miles. And while the annual mileage might not have been much more, these owners are now starting to trade up older, higher-mileage bikes. Where you could count on a bike three to four years old with, say, 15,000 miles, now we’re seeing five- to seven-year-old bikes with nearly double that. There is also some truth to the theory that these owners are keeping bikes longer and riding them more rather than buying new, adding the trinkets, and admiring their work with an elbow on the workbench. That also raised the average miles per year.

The first thing happens all the time because with people that have poor credit a lot of the time the Are there any 'ace in the hole' negotiation tactics a prospective buyer can use to cut around a lot of I felt terrible and apologized numerous times but the other salesmen just said im not mad at you im

First Time Car Buyer . Are you ready to purchase your first vehicle and preparing to apply for auto financing? Even if you don’t have perfect credit, or this is your first time financing a vehicle, Enterprise Auto Finance™ may have financing options to fit your needs.


Okay, now lets's look at what you should do. First, plan ahead. Don't wait until the day you need a car to start shopping for one. If you're 16 or 17, start preparing for your first car a year or two ahead of time -- not the day before your 18th birthday. Second. . .


This may seem so obvious I don't need to say it, but you're going to need a source of income if you plan to finance a car. The first question any lender will ask themselves when considering your loan is "How are they going to pay for it?" I once had a young man tell me his girlfriend had agreed to make the payments for him. This is not an acceptable answer. Job time is also important. Ideally, you'll need to be on the job at least one year. Third . . .


Again, this sounds pretty obvious, but you'd be surprised how many First Time Buyers try to buy a car with no money down. (The majority, I'd say.) In eleven years of selling I've never seen it happen. You'll need money down. There is no hard & fast rule on exactly how much you'll need, but I would say $1000 is a good start -- and may just make the difference between getting that first car or not getting it.

Buying An "As-Is" Used Car Is About to Be Less Confusing

  Buying An An important change to the buyer's guide.As anyone who has ever car shopped in the U.S. knows, "Buyer's Guides" are affixed to the windows of cars sitting on car lots. The Buyer's Guide explicitly points out whether the car comes "AS-IS NO WARRANTY" or with a "WARRANTY." As noted, a vast majority of the cars are sold with the first box checked. And this document was created by mandate of the Federal Trade Commission. The purpose of the Buyer's Guide was to put buyers on notice of what sort of warranty–if any–the car was being sold with.

Seven first - time homebuyers admit their biggest rookie blunders and reveal recession-proof lessons to First - Time Homebuyer Tips 05:07. They could have added more equity had they stuck to their Jarrod wanted to spend some time weighing his options, but then another buyer made an offer on the

As a car salesman when it comes to car sales qualifying questions you want to make sure you have someone that can buy a car in front of you instead of waiting for the negotiation Being able to gather information the entire time that you spend with a prospective car buyer is critical to your success.


Financing a car is a little like lifting weights. You wouldn't walk into a gym, having never lifted anything heavier than a diet soda, and try to bench-press 400 lbs. Yet this is how many First Time Buyers go about buying a car. In order to lift a heavy weight, you'll need to start out with small weights and gradually work your way up to the Olympic bar with the 45 lbs. plates. The best way is by building three lines of credit. For the first two, go out and get two credit cards, both with small credit limits, and use only a small portion of your available credit on each card, say 20-30%. If your limit is $500, keep the balance around $100-150. The key is to always pay on time. Even one late payment can hurt you.


For your third line of credit, go to the bank your mom and dad use, or a local credit union, and open a checking account. Once you have $1000 in your account, apply for a small loan using that money as collateral. Pay that loan off over the next six months. That will give you the third line of credit lenders like to see. It also helps you in another way.


By getting to know the people at your bank or credit union, you may find that they'll be willing to finance your first car when no one else will simply because they know you and seen how well you manage your accounts. Also, it doesn't hurt to start schmoozing up that rich aunt or uncle you never see until the holidays. You may need them as a cosigner someday!

Car Salesman Confidential: What You Need to Bring

  Car Salesman Confidential: What You Need to Bring The Trade-In Would Be Good. Oh, And Your Downpayment. Definitely That.One Saturday a young couple drove all the way from a little town to buy a new car. We went through the whole process, from the meet 'n' greet to the needs analysis to the test drive, and then I sat them down in my office and prepared to present them with numbers. I was pretty sure I had a car deal at this point. They loved the car -- a gleaming new Zorch Commander -- they said they had good credit, and they appeared eager to buy.

What should you do first when starting in car sales ? Well here are some car sales techniques and ideas to help you hit the ground running if you are getting started in car sales business. Well if you are any of the above this session of "Ask Robert" will give you some tips on how to grow your business

This is simply when the sales person meets with the potential car buyer for the first time and should sound something like this This is where the really good car salesmen shine and you should give the buyer a complete walk around of the vehicle while pointing out key features and benefits of the vehicle.


If you don't have any money down, have insufficient job time, or insufficient income (less than $1800 a month), you're going to need someone with good credit and good income to co-sign with you. However, you may find that it's hard to find a willing co-signer. The reason is, if one person on a loan doesn't make the payments, or is always late, it can hurt the co-signer's credit. So my advice is try to do it on your own, if you can.

Of course, everything I've described above is the ideal way to go about it. If you can't do all of the above, at least do some of it -- at least get one credit card or a small loan -- and you'll find you've gone a long way toward building a sufficient credit history to finance your first car.

Also, you may have heard about First Time Buyer programs. Yes, some manufacturers and lenders do provide assistance for First Time Buyers from time to time, and I'll touch on these in a later column. In the meantime . . .


The last thought I'd like to leave you with is, you may not be able to buy a WRX STI or a Dodge Hellcat fresh out of high school. Yes, I know. Life is unfair. You may not even be able to get a two or three year old Mustang with leather seats and a sunroof. You may have to settle for a slightly scratched up, meek little four-banger with cloth seats and bad tires. Relax. Your image will survive. It's your first car, not your last. If you pay it off on time, you'll have sufficient power buying to get whatever you want the second time around.

When it comes to buying your first car, I can tell you that walking in blind is not the way to go. Your options will be severely limited and you will pay more money. So start preparing today. If you do, the whole experience will go a lot easier, and the good habits you develop now will benefit you for the rest of your life. I guarantee you.

More Car Salesman Confidential here:

  • How To Use Carfax Part 2
  • How To Use Carfax Part 1
  • How I Sell

Not Getting a Car Inspected Before Buying It Is a Huge Mistake .
Don't trust the dealer.

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