Lesson 12: How to buy a vehicle

Post on 29-Jun-2015

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Jeff Crawford, owner of Crawford's Auto Repair, has worked in a broad range of the industry from small shops to large dealerships. As part of his 12 lesson series, he shares the steps and tips for how to buy a vehicle and reduce costs of owning a vehicle. The content for this lesson was contributed, in part, by Rex Kimball, MirexMarkeing.com.

Transcript of Lesson 12: How to buy a vehicle

JEFF CRAWFORDCRAWFORD’S AUTO REPAIR

2855 S ALMA SCHOOL RD. SUITE 107MESA, AZ 85210

480-201-0740WWW.CRAWFORDSAUTOSERVICE.COM

CRAWFORDSAUTOMOTIVE@GMAIL .COM

Free Lessons on Auto Maintenance & Repair

CONTRIBUTING AUTHOR:REX KIMBALL

MIREX MARKETINGWWW.MIREXMARKETING.COM

Lesson 12: How to buy a vehicle.

Know your costs before buying:

Price of the vehicle/monthly loan paymentMonthly insurance paymentRegistration/inspection feesFuelMaintenanceRepairs

Price of vehicle/monthly loan payment

Buy used from owner, not from a dealer to save

Pay in full up front to avoid interest (don’t take out a loan unless you have to)

Learn how to negotiate (buy books to learn negotiation or borrow books from the library, watch videos online, etc.)

Buying from the dealer

Not recommended, they have tricks to make the price higher

Go over the list of fees, one-by-one. Ask them to describe exactly what the technician did for that service. If you don’t want it, ask them to take it off Desert care package Theft protection package

December is the best month since they’ll likely negotiate for a better price at the end of the year.

Desert Care Package

Want to guess what they do?

They tint the windows and put wax over the paint. The dealership charges $800 and you could hire a third party for $100-$400.

Theft Protection Package

Want to guess what they do?

They etch a number into the window and put stickers on the doors, even if its been done before. The police don’t even use this number if the vehicle is stolen.

Monthly Insurance Payment

Monthly Insurance Payment

Shop around, be mentally prepared to talk to representatives

Know your normal driving habits/distanceSometimes the insurance company can tell

you which vehicles have the best coverage.

Monthly Insurance Payment

Liability vs upgraded coverage

Reduce your insurance premium

Be femaleGet good grades if you’re a studentGet older (goes down as you age)Never get in a wreckNever get a citationFrom the audience?

Based on statistics (not bias)

Registration/Inspection Fees

Fuel – Find best gas prices

Go to www.CrawfordsAutoService.com, click on Best Gas Prices

Fuel – Find fuel-efficient vehicles

Go to www.CrawfordsAutoService.com, click past the home page, use the widget on the side menu.

Maintenance/Repairs

The more you neglect maintenance, the more you pay in repairs.

The more you maintain your vehicle, the less vehicles you have to buy over time.

Find a friendly neighborhood mechanic that you can trust.

Steps to purchasing a vehicle

Shop on local auto markets for vehicles in your price rangeDo research on resale values, common problems with

makes and models, gas mileage, etc.Call the owner to ask for additional detailsMeet to inspect the vehicle and test drive it.Have a mechanic inspect the vehicle.Make an offer, negotiate, agree (if you can’t agree on a deal

then back to shopping)You get the cash, seller gets the title notarized.Exchange keys and title for cash.You register the vehicle and get a new license plate.Inform your insurance company or get new insurance

Steps to purchasing a vehicle

Shop on local auto markets for vehicles in your price range

Yahoo Autos

Steps to purchasing a vehicle

Auto Trader

Steps to purchasing a vehicle

Craigslist

Steps to purchasing a vehicle

Local publications

Steps to purchasing a vehicle

Do research on resale values, common problems with makes and models, gas mileage, etc.

Edmunds.com

Steps to purchasing a vehicle

Do researchCars.com

Steps to purchasing a vehicle

Research the price of any vehicle, new or used

Kelly Blue Book is the standard for vehicle pricing.

Steps to purchasing a vehicle

Call the owner to ask for additional details Ask for details that aren’t in the ad. Why are they selling it? Has it been maintained well? (Had the oil changed,

etc.)

Steps to purchasing a vehicle

Meet to inspect the vehicle and test drive it.Have a mechanic inspect the vehicle.

Trained professional, they’ll lift it up and inspect under the hood, simple fee which could save hundreds of dollars.

(You can do these at the same time).

Steps to purchasing a vehicle

Negotiate Offer, counter-offer, deal or no deal Study this topic for all business deals, not just to buy a

car

Be cautious negotiating if you’re only wearing a black tie

Steps to purchasing a vehicle

You get the cash, seller gets the title notarized. Bank, title company, DMV

Steps to purchasing a vehicle

Exchange keys and title for cash.

Steps to purchasing a vehicle

Register the vehicle and get a new license plate. DMV or title company (for a fee, less waiting)

Steps to purchasing a vehicle

Inform your insurance company or get new insurance (within a few days)

Congratulations!

Naked, white bubble head high ten!

Questions?

Crawfords Auto Repair

Go to www.CrawfordsAutoService.com for Car care tips Free videos Download my free ebook