10 Steps to Leasing a New Car #car #auction


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10 Steps to Leasing a New Car

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Step 1: Get Acquainted With Leasing

Car leasing is really just like a car rental, but for a longer time period and with some extra fees. Many people prefer leasing to buying because it allows them to drive a new car for less money than if they purchased it. You should have a good idea by now which car to lease, thanks to “10 Steps to Finding the Right Car for You.” If you are still undecided, review that article and then come back after you have made your choice. And in this first step, it also might be helpful to review some of the other pros and cons of leasing to make sure it is the right financing method for you.

Also, if some of the terminology you encounter is confusing, consult our leasing glossary. Finally, if you’re in a hurry, read our “Quick Guide to Leasing a New Car.”

The next steps will tell you how to locate and negotiate a good monthly payment for the car you want to lease. It will also introduce you to Edmunds Price Promise Lease Offers, which will make the process much faster and stress-free. And if you have any questions along the way, please reach out to the Edmunds Live Help team for free assistance. The team will work hard to make your leasing experience a breeze. You also can be paired with an Edmunds car-leasing expert  who can help you wherever you are in the car-leasing process. This service also is free from Edmunds.

Step 2: Design Your Lease Deal: Years, Miles and Insurance

Edmunds.com recommends that people lease for no longer than three years so your car will always be protected by the manufacturer’s three-year bumper-to-bumper warranty. Some people are tempted to extend their leases to four and five years to reduce the monthly lease payment. But this means you’re investing more money in a vehicle that will never be yours and might need costly repairs.

You should also know that most lease contracts include 12,000 miles a year. So if you drive more than 36,000 miles in three years, you will be charged 10-15 cents for each additional mile. You can buy extra miles up front, usually for 5 cents per mile and have this rolled into your lease payment.

Lease contracts usually call for an up-front payment called “drive-off fees.” Often, advertised leases list high drive-off amounts. However, we recommend you pay only about $1,000 to start the lease. So to summarize, the Edmunds.com recommended lease is: three years, 12,000 included miles per year and about $1,000 in drive-off fees.

One last thing: It’s smart to ask your insurance agent for a coverage quote. Lease companies require higher levels of coverage for leased cars than many individuals carry for cars they’ve bought. The lease company’s liability is higher, and it passes this extra expense along to you.

Step 3: Estimate Your Monthly Lease Payment

It’s a good idea to estimate a possible lease payment yourself so you can spot a good deal as you continue shopping. The formula is complicated, but with a little patience, it is possible to calculate your own lease payment. You also can use the Edmunds.com lease calculator to generate a payment and adjust it based on different parameters, such as mileage and down payment. To use the calculator, you’ll first need to get the residual amount for the car. Call the finance manager at a local dealership and ask for the three-year residual value of the car you want. Put this figure into the calculator along with the mileage, down payment and trade-in to see your estimated monthly payment.

Step 4: Check for Manufacturer Lease Deals

Many carmakers periodically offer highly discounted lease specials. However, the advertised specials might have additional costs in the fine print of the lease ad. You should always check to see if the promised monthly payment includes sales tax and fees and if it also requires high drive-off fees, which are similar to a down payment when you buy a car. Check Edmunds’ Incentives and Rebates section for current offers.

Step 5: Look for Price Promise Lease Offers

Another way to get a great deal is to look for Edmunds Price Promise Lease Offers. Go to the Edmunds.com home page, select a vehicle by clicking on the year, make and model, and you will see cars that are available in your area. Look for the box that says “See Lease Offer,” provide your e-mail address and phone number, and you will immediately see the vehicle’s monthly lease payment, drive-off fees and number of included miles. Call the salesperson listed on the offer to confirm the car is still available, then print out the certificate to take with you to the dealership.

Step 6: Find the Exact Car To Lease

If a Price Promise Lease Offer isn’t available for the car you want, you can locate other cars to lease by going to the Edmunds home page and selecting the year, make and model. After you click “Go,” the next screen displays several sample cars for sale at local dealers. In the upper left corner of the screen, click the link that lists the number of cars available, followed by “Cars for Sale” for a much longer list of cars in your area. If you are interested in one of these cars, contact the dealer to make sure it is still available. If there are several dealerships offering the same car, you may be in a better position to negotiate an even better lease payment.

Step 7: Solicit Quotes Through the Internet Department

We strongly suggest that you shop through the dealership’s Internet department. which offers many advantages over the traditional car shopping experience. Using Edmunds.com, you can simultaneously send requests for price quotes from the Internet managers at local dealerships. After you receive the car price quote, you’ll need to follow up with an e-mail or phone call to get a lease quote (using the factors of three years, 12,000 miles per year and $1,000 in drive-off fees) so you can do an apples-to-apples comparison. Now, compare the quotes you get to your own calculated lease payments or those you received from Price Promise lease offers.

Step 8: Review the Dealership and the Car Salesperson

As you call dealerships to locate your car, you should also test-drive the car salesperson. Ask yourself if you feel comfortable dealing with this person. Does he or she return your phone calls and answer your questions in a straightforward manner? Also, you should take a moment to read any available reviews of the dealerships you are considering.

Step 9: Negotiate Your Best Lease Payment

You now have a handful of price quotes (or even a Price Promise lease offer) and an idea of the level of customer satisfaction at the dealerships you contacted. If you want to try to improve the deal, take the lowest offer, call the other dealers and see if they can beat that price. If no one budges, you are at rock bottom.

Although we highly recommend using the Internet department, many people still go to the car lot in person to make a deal. If you do so, make sure to take along your lease payment estimates and price quotes. Also, download Edmunds.com’s mobile car buying app for any last-minute pricing and inventory research. Then, if the salesperson’s on-the-lot price is too high, you can show the prices you’ve gotten from other dealerships. But make sure you accurately compare quotes by matching the down payment, the length of the lease and the annual mileage allowance.

Whichever method you choose, it is a good idea to ask the salesperson for a worksheet showing all the numbers in the deal. This will reveal any hidden fees and allow you to compare this offer to the quotes you have. And make sure that the quote lease includes sales tax to see what your full monthly payment will be.

One more thing: Before you say yes to the deal, tell the salesperson you are willing to lease if the dealership will have the car delivered to your home or office. This will save you time and allow you to skip the step of visiting the finance office to hear about additional products, such as alarm systems and fabric treatments.

Step 10: Review and Sign the Paperwork

Whether you close the deal at home or at the showroom, the dealership will ask you to sign a contract and an array of documents. At the dealership, this will probably be done in a separate office by the finance and insurance (F


California Accident Guide – Steps After An Accident, steps to take after a car accident.#Steps #to #take #after #a #car #accident


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Accident Guide in California

Steps to take after a car accident

In the unfortunate event that you are involved in a traffic accident there is much you need to know.

Stop and Assess the Situation

First, stop and assess the situation. Are there any injuries or death? Investigate the extent of the damage, and call for assistance if necessary. In California, failure to stop at the scene of an accident in which you are involved could result in serious criminal hit-and-run charges.

You must stop to assess the situation even when the accident involves merely damaging property or running into a parked car. If you hit a parked car or damage someone’s property, but are unable to locate the owner, leave a note with your name and address, as well as the name and address of the owner of the automobile you are driving, secured to the vehicle or property damaged.

You will also be responsible for reporting the accident to the police or to the California Highway Patrol (in an unincorporated area).

When animals are involved don’t take your responsibility any more lightly. Again, pull over. Try to find the owner. If the owner cannot be found call the Humane Society, the police, or the Highway Patrol.

What You Will Have to Show

Once you assess the accident, you must your show driver license, registration card, evidence of financial responsibility, and current address to others involved and any peace officers present.

If you cannot show proof of financial responsibility, namely from an insurance company with a current policy number, you face a potential citation and fine.

Serious Accidents

An accident must be reported to the DMV within 10 days when someone is killed, injured, or property damage exceeds $1,000.

To report an accident to the DMV you, your insurance agent, or legal representative must complete the Report of Traffic Accident Occurring in California (Form SR-1).

You must also submit an SR-1 in addition to other filings the insurance companies, police, and other administrative agencies require. In order to fill out the SR-1 you need to gather important information at the scene of the accident:

  • Place and time of accident.
  • Other driver’s name, address, and date of birth.
  • Other driver’s driver license information(#/State).
  • Other driver’s license plate number and state.
  • Other driver’s insurance company, policy number, and the expiration thereof.
  • Policy holder’s name and address.
  • Vehicle owner’s name and address.
  • Explanation of injuries or property damage.

The DMV SR1 is also required regardless of whether the accident occurred on private property or was caused by someone else.

Failure to file a necessary Report of Traffic Accident Occurring in California (Form SR-1) or failure to show proof of financial responsibility may result in the suspension of your license.

Unless the officer finds the other driver at fault, any accident the police report to the DMV will go on your driving record.

Removed your vehicle from the street or highway

Don’t forget to have your vehicle removed from the street or highway. Failure to do so may result in your vehicle being towed or impounded.

Related Products and Services

DMV.org Insurance Finder

Join 1,972,984 Americans who searched DMV.org for car insurance rates:

Protect Your Identity

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Personal Injury Attorneys

When you have an auto accident and incur injuries as a result, you may think about hiring a personal injury attorney.


10 steps to a great deal on a new-car loan #car #posters


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Ch. 2: Your new-car dollar

Here are 10 tips to help you get the best auto loan:

1. Shop the loan separately from the car. Before starting negotiations on the exact car and price, begin the loan application process with credit unions, banks, well-respected online lenders and even your auto insurance company. “Generally, we’ve seen that online banks have been the best,” says Anthony Giorgianni, associate finance editor of “Consumer Reports Money Adviser” newsletter in Yonkers, N.Y. “The little banks might be very competitive,” he says. “A lot of them didn’t get caught up in the credit crunch.” And credit unions rates tend to be about 1 percent to 1.5 percent lower than banks, says Jim Hanson, a vice president at the Credit Union National Association in Madison, Wis.

You can get prequalification for a loan, which would enable you to go to the dealer with a blank check — good up to a specified amount, says Phil Reed, senior consumer advice editor for Edmunds.com. Once you have a solid, written contract with the dealer, only then ask if they can beat the financing deal you already have.

Shopping for a car or just a car loan? Download Bankrate’s auto app for price comparisons, loan calculations and more.

2. Limit your loan shopping to a two-week period. Every time you apply for a loan — whether you are approved, whether you use it — your credit score goes down and it makes it slightly more difficult to get a prime-rate loan. But if you make all of your applications within a two-week period, they count as only one inquiry.

3. Get familiar with your own credit history. Get free copies of your three credit reports, from Equifax, Experian and TransUnion at www.AnnualCreditReport.com. If you want to learn your exact scores from the three agencies, you can order them for a small fee from their individual Web sites. The credit or FICO score you buy is probably not the same one your lender uses, but it should be close. With an auto loan, you have a little more wiggle room in terms of your score. “What’s considered good for a car loan will be a little lower than what’s good for a mortgage,” says Gail Hillebrand, senior attorney with the San Francisco office of Consumers Union.

4. Shop the total loan amount, not the monthly payment. The only time you should consider the monthly payment is when you privately calculate how much you want to spend for your car. After that, don’t discuss monthly payments. Some lenders may focus on the payments to induce you to borrow more money by extending the number of months you pay. That way they make more in interest, and you have to drive your aging car longer.

5. Don’t assume the best. Lenders aren’t obligated to offer you the best rate for which you qualify. In 2007, car dealers marked up loans by an average 1.8 percent on used cars and 0.6 percent on new ones, according to Josh Frank, senior researcher for the Center for Responsible Lending in Durham, N.C. Let the lender know you’re shopping around or already have another offer. You’re more likely to see a better rate. You can find the best available auto loans in your area at Bankrate’s auto rate tables .


10 Steps to Buying a Used Car #used #car #dealerships


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10 Steps to Buying a Used Car

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The following steps will tell you how to locate, price and negotiate to buy the used car you want. If you don’t yet know what car to buy, read 10 Steps to Finding the Right Car for You and then come back after you have decided.

If you have any questions along the way, please reach out to the Edmunds.com Live Help team for free assistance. The team will work hard to make your car buying experience the best one yet. You also can be paired with an Edmunds car-buying expert  who can help you, no matter where you are in the process of getting a used car. This service also is free from Edmunds.

Step 1: How Much Car Can You Afford?

A general guideline is that your monthly car payment should not be more than 20 percent of your take-home pay. However, people shop for cars with their hearts as well as their heads, and that can be a little dangerous. That’s where Edmunds.com’s How Much Car Can I Afford? calculator comes in handy. It can prevent you from getting in over your head when you buy a car. The calculator helps you find an estimated price range in which to shop and will even suggest some cars that would fit your budget. Here’s more information on how to set up your automotive budget .

Step 2: Build a Target List of Used Cars

To save money, consider buying a second-tier car, from the less popular — but still reliable — manufacturers. Well-known vehicles like the Honda Accord and Toyota Camry can cost thousands more than a comparable Chevrolet Malibu or Nissan Altima , even though these are good cars. With this in mind, build a target list of three different cars that meet your needs and fall in your budget.

You could also consider buying a certified pre-owned (CPO) car, which greatly simplifies the buying process. If you are really adventurous and in search of a real bargain. read Can Buying a Demo Car Save You Money and Confessions of an Auto Auctioneer for careful guidance. Also, take a look at How to Get a Used Car Bargain .

Step 3: Check Prices and Reviews

To see if the cars you are looking at fit into your budget, check True Market Value (TMV)® pricing. Edmunds.com’s TMV shows you what other people are paying for that car in your area. When you select a car through the Appraise a Used Car tool, it takes you to the gateway of all the information you need to make a good buying decision. pricing, reviews, specs, fuel economy and lists of standard features. Also, use True Cost to Own (TCO) to see what other ownership expenses you are likely to incur. (Note, however, that TCO data is not available for all cars.)

Step 4: Locate Used Cars for Sale in Your Area

Begin searching for the cars on your target list using the Edmunds.com used-car inventory page. You can filter the search by many factors including distance, mileage, price and features to find exactly the car you want. You should also use other online classified ads such as AutoTrader.com. eBay Motors.com. CarGurus.com and Craigslist .

There are, of course, many places to shop for a used car, such as independent used car lots. the used car section of a new car dealership and, more recently, used car superstores. One such store, CarMax. makes it easy to search its inventory to find a good used car to buy at a no-haggle price. Another resource is online peer-to-peer car buying and selling, including such companies as Beepi , Carvana , Tred  and Zipflip. Their services vary, but can include car inspections, warranties and return policies.

Step 5: Check the Vehicle History Report

Before you contact a used-car seller, you should get a vehicle history report for the car you’re interested in buying. This is an essential first step: If the report is negative, you should not go any further with this car.

You can access vehicle history reports, which are sold by several different companies, by the vehicle identification number (VIN) and even by license plate. AutoCheck and Carfax are the two best-known sources for vehicle history reports. These reports can reveal vital information about the used car, including whether it has a salvage title. which means it has been declared a total loss by the insurance company, or if the odometer has been rolled back.

Step 6: Contact the Seller

Once you find a good prospective car, call the seller before you go to see the vehicle. This is a good way to establish a relationship with the seller and verify the information in the ad. Sometimes the seller will mention something that wasn’t in the ad that might change your decision to buy the car. Have our Used Car Question Sheet handy when you’re calling to prompt you to ask key questions. You will notice that the last question is the asking price. Although many people are tempted to negotiate even before they have seen the car, it’s better to wait. Once you see the car, you can tie your offer to its condition level.

If, after talking to the seller, you are still interested in buying the car, set up an appointment for a test-drive. If possible, make this appointment during the daytime so you can see the car in natural lighting and more accurately determine its condition.

Step 7: Test-Drive the Car

Test-driving a used car not only tells you if this is the right car for you but also if this particular car is in good condition. On the test-drive, simulate the conditions of your normal driving patterns. If you do a lot of highway driving, be sure to take the car up to at least 65 mph. If you regularly go into the mountains, test the car on a steep slope. For more on what details to look for, read How to Test-Drive a Car .

After the test-drive, ask the owner or dealer if you can see the service records to learn if the car has had the scheduled maintenance performed on time. Avoid buying a car that has been in a serious accident or has had major repairs such as transmission rebuilds, valve jobs or engine overhauls.

Step 8: Have the Car Inspected

If you like the way the car drives, you should have it inspected before you negotiate to buy it. A pre-purchase inspection can save you thousands of dollars. You can take the car to a trusted mechanic for a thorough inspection or request a mobile inspection. A private party will probably allow you to do this without much resistance. But at a dealership, it might be more difficult. If it is a CPO car, there is no reason to take it to a mechanic.

Step 9: Negotiate Your Best Deal

Negotiating with a private-party seller can be a quick and fairly relaxed process. Negotiating with a used-car salesman will take longer and can be stressful. Here are some basics about negotiating .

  • Only enter into negotiations with a salesperson or private-party seller with whom you feel comfortable.
  • Make an opening offer that is low, but in the ballpark based on your TMV research in Step 3.
  • Decide ahead of time how high you will go and leave when you reach your limit.
  • Always be prepared to walk out: This is your strongest negotiating tool.
  • Be patient. Plan to spend an hour negotiating in a dealership. and less time for private parties.
  • Leave the dealership if you get tired or hungry.
  • Don’t be distracted by dealer pitches for related items such as extended warranties or anti-theft devices.

Step 10: Close the Deal

If you are at a dealership, you’ll conclude the deal in the finance and insurance (F


Eight Steps to Buying a New Car #battery #chargers #for #cars


#how to buy a car
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Eight Steps to Buying a New Car

Car Buying Learning Center

The following steps will show you how to locate, price and negotiate to buy the new car you want. Using this information could save you thousands of dollars on a new car and make the process quicker and enjoyable. It also puts you in charge of the deal-making process — and that feeling of empowerment is a good one.

But first things first: You need to decide what car you want to buy. If you haven’t done that yet, please check out our 10 Steps to Finding the Right Car for You. Then head back here once you have chosen the right car.

And if you have any questions along the way, please reach out to the Edmunds.com Live Help  team for free assistance. The team will work hard to make your car shopping experience the best one yet. You also can be paired with an Edmunds car-buying expert  who can help you wherever you are in the shopping process. This service also is free from Edmunds.

Step 1: Get Approved for a Car Loan

A powerful first step in the car buying process is to get approved for a loan. (If you have decided to lease your new car, things proceed a little differently, so please read 10 Steps to Leasing a New Car. ) Getting approved for a loan from a bank, credit union or online lender will show you what interest rate you qualify for. If the interest rate offered is unexpectedly high, you will know that there are problems with your credit history that need to be resolved before you move forward. Getting approved in advance will also mean you can negotiate at the dealership as a cash buyer, which is much easier. You can still accept dealership financing, but getting approved before you even walk into the dealership will be the bargaining chip to get you the best interest rate.

Step 2: Price Your Car and Your Trade-in

Everyone knows that the price of a new car is usually negotiable. But how much of a discount can you expect? Edmunds.com’s True Market Value (TMV®) pricing uses actual sales figures to reveal the average price buyers are paying for cars in your area. Edmunds TMV adjusts the price for other factors including incentives, options and color.

Using Edmunds TMV. you can see the price of the car you want to buy, and also the price of your trade-in, if you have one. Choose the make, model and year of the car you want to appraise and follow the prompts. TMV adjusts the new car price for the available incentives. TMV for your used car shows the current market value if you sell it to a private party or trade it in at the dealership.

While TMV already factors in incentives, it is also possible to separately review the latest incentives and rebates available for all new cars. Perhaps you’ll find an even better bargain on a new car you had not considered.

Step 3: Locate Your New Car

As you search for your car, keep in mind that the more flexible you can be about options and color, the wider the range of the vehicles you’ll find for sale. Being flexible will also give you more leverage to negotiate a better price, since you are not emotionally connected to one specific car.

On the Edmunds.com home page. select the make, model and year of the car you want. You’ll then get a page that displays several actual cars for sale in your area, along with Edmunds.com Price Promise ® offers. (More about Price Promise in the next step). Click on the link Find Cars for Sale Near You in the upper half of the screen. You then will make selections about options and color to get a more complete list of matching cars available for sale. Once you find the exact car you want, the next step will be to contact the dealership.

Step 4: Use Price Promise and Dealership Internet Departments

Now that you are approaching the deal-making phase of the process, here’s more about a good pathway for buying a new car: the Edmunds.com Price Promise program. It assures car shoppers a guaranteed, up-front price on a specific car.

Look for Price Promise offers on the car of your choice, print out the certificate on the page and you are ready to go to the dealership to conclude the deal. It’s a good idea to call ahead and make sure the car is still available. Here are other tips on how to use Price Promise to buy your next car.

If there’s no Price Promise offer on a car you want, shopping through a dealership’s Internet department will save you time and money. You can easily communicate with the Internet manager by phone or e-mail.

We know that many people are drawn to the traditional way of car buying: visiting showrooms right off the bat. If you go this route, you should assess the car salesperson who is working with you before moving forward. Ask yourself if you feel comfortable and sense that you can trust this person. If you do feel comfortable, set up a time to test-drive the car if you haven’t already done so. (It’s a key step in finding the car that’s right for you .) Before you head to the dealership, review all your notes and bring them with you.

Step 5: Negotiating

If you are using Price Promise, you will likely find offers that are below Edmunds TMV (and you can check with our Live Help team to be sure of that) And that’s a locked-in, guaranteed price, so there shouldn’t be any need for further negotiation.

But If the car you want isn’t available through Price Promise, you can use the following approach to negotiate a good deal: Request Internet price quotes  from at least three local dealers. Take the lowest price, call the other dealerships and say, “If you beat this price, I’ll buy it from you.” The dealer almost certainly will give you a better price.

Some shoppers find this time-consuming and stressful, so consider whether the potential savings are worth the time and effort. It’s good to remember that a good deal isn’t just the lowest selling price. It’s a combination of the most streamlined, enjoyable shopping experience and the lowest total out-the-door cost.

Step 6: Review New Car Fees and Check Dealer Financing

Besides the cost of the car, you have to pay sales tax, registry fees and a documentation, or doc fee. You can estimate these extras using Edmunds’ Monthly Loan Payment Calculator. Now ask the Internet sales manager or the dealership’s Price Promise contact to supply a breakdown of all the fees, or a worksheet, which lists the purchase price, the vehicle’s invoice and all related fees. Review the figures carefully before signing the sales contract.

Back in Step One, you were pre-approved for financing. But who knows? Maybe you can get an even better interest rate at the dealership. To see if that’s possible, you can let the dealership run a credit report and assess what interest rate you qualify for. If it is lower than your pre-approved loan, go for it. If not, you already have a good loan locked in.

If the price, financing and fees look right, it’s nearly time to say yes to the deal. But before you do, consider making the sale contingent on having your new car delivered to your home or office. This is a great time saver and allows you to close the deal in a relaxed environment.

Step 7: Sign the Paperwork

This step will take place at your home if you have the dealership deliver the car, or at the dealership if you prefer to pick it up there. Either way, make sure there are no dents or scratches on the body or the wheels. Check that all the equipment is included, such as floor mats, owner’s manuals and rear-seat DVD headphones. Your new car should also come with a full tank of gas. If anything is missing or needs repair, ask for a Due Bill that puts this in writing.

In cases of home delivery, the salesperson arrives with all the necessary paperwork. If you opt to pick up your car at the dealership, you will sign paperwork in the finance and insurance office. where the finance manager may try to sell you additional items. These typically include extended warranties, fabric protection or additional alarm systems. These extras can often be purchased elsewhere for less. One product that can have real value is an extended auto warranty. which provides peace of mind to many buyers and could save you money in the long run. Remember, though, that its price also is negotiable and you can always buy it later. You can learn more about the products offered by the finance manager in Negotiating a Dealer’s New-Car Add-Ons.

Review the contract carefully and make sure the numbers match the worksheet and that there are no additional charges or fees. A good finance manager will explain each form and what it means. Don’t hurry. Buying a car is a serious commitment. And remember, there is no cooling-off period. Once you sign the contract, the car is yours.

Step 8: Take Delivery of Your New Car

You are probably eager to begin driving your new car. But this is an important step: Let the salesperson give you a tour of your new car. This could include showing you how to connect your smartphone to the car’s Bluetooth system and learning how to use other important features and safety devices. Yes, you can review all this in the manual later, but it’s quite helpful to get a hands-on demonstration. If you don’t have time for a complete demonstration when you sign the contract, ask to visit the dealership a week later for this important step.

As you drive away, there is only one more thing to do: Enjoy your new car.


Scrap Car Prices – Follow Our 7 Steps to Receive The Best Price #car #value #website


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Scrap Car Prices – Follow these 7 Steps

Don t believe anyone who says your ELV (end of life vehicle) isn t worth a penny every ELV is worth something, even if it is only the scrap value. But how can you make sure that you squeeze every last bit of value out of a clapped out Chrysler, a flat-lined Fiat or a Renault with rigor mortis?

1. Do Your Research Early in the Month

Certain Scrap dealers have been known to reduce the prices they offer towards the end of each month. This is not some elaborate conspiracy to wheedle a bit of extra profit when the bills roll in it s just a common way of managing the workload. It s quite common for dealers to be fully booked, or close to fully booked, at the end of the month, and so they reduce their offers to become less competitive (temporarily). This helps to stop them from over-committing to customers.

2. Don t Remove Any Parts

Taking parts from your car is going to lower its value and could put a lot of companies off too. Removing some parts can also make it difficult to collect your car have you tried to load a car without wheels onto a recovery vehicle?

The more parts you can leave on the ELV, the more it is worth to a dealer. But you didn t really need us to tell you that, did you?


10 Steps for Selling Your Car – Kelley Blue Book #used #car #auctions


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10 Steps for Selling Your Car

    Step 1: Gather Your Car’s Information Step 2: Know Your Car’s True Condition Step 3: Decide Whether to Trade-in or Sell Yourself Step 4: Increase Your Car’s Resale Value Step 5: Set the Asking Price for Your Car Step 6: Create an Online Ad That Sells Step 7: Screen Potential Buyers Step 8: Use the Test Drive to Sell Step 9: Negotiate the Best Price for Your Car Step 10: Complete the Sale

7 Screen Potential Buyers

Unless you hire a broker or have a friend who owes you several favors, you’ll need to meet prospective buyers and set up test drives. This can be daunting, so it makes sense to look through all the candidates online first, then call the ones that seem promising. That initial phone call is the best way to put both parties at ease.

If you communicate by email, re-send the details of your ad (potential buyers are probably reaching out to several owners) and offer to answer any questions they might have.

Before setting an appointment to show your car, ask for the person’s full name and offer yours. Clarify which forms of payment are acceptable to you – certified check and money orders are best. You might be surprised how many people still need to line up financing, expect you to accept a down payment, or even plan to pay you in installments! Don’t waste time with these buyers.

Tip: Sell Local

To help protect yourself from fraud. it’s best to sell to someone in your area. Tell prospective buyers that you don’t accept out-of-state checks and that you would like to meet at the buyer’s bank and go in with them to get the cashier’s check. Some banks may also want to see the vehicle if the buyer has lined up financing.

Tip: Round up the Ownership Sale Documents In Advance

Before you meet with any potential buyers, gather all the documents you’ll need so you have the option to sell the car on the spot. Requirements and acceptable documents can vary, so check your state’s Department of Motor Vehicles website to see what it requires when transferring ownership.

As the seller, you must provide the vehicle title and some form of odometer disclosure listing the vehicle’s mileage at the time of the sale. In some states this is part of the title itself, while in other states it is a separate form. Other key documents include:

  • Warranty information
  • Bill of Sale
  • “As is” statement
  • Release of Liability form (check with your state’s Department of Motor Vehicles)
  • Any additional documents your state requires (such as Smog Certification in CA)

Next Step 8: Use the Test Drive to Sell


Three Steps To Trading in Your Used Car #sale #cars


#trade in value of car
#

Three Steps To Trading in Your Used Car

1 of 4

You’re getting ready to buy a new or used car. The car you currently drive is in good enough shape and may have some value to it. Should you sell it yourself or trade it in?

Simply put, if you want the most possible money for your vehicle, you’re better off selling it yourself. However, this takes time and perhaps more effort than people are willing to invest. Forty-eight percent of all car purchases in 2013 included a trade-in, according to Edmunds data.

Trade-in offers are typically less than you’d get in a private-party sale because the dealership must factor in the cost to recondition the vehicle and make a profit when it resells it. The plus for car shoppers is that trading in your car can be very convenient. If you follow these tips, you can get the most for your trade-in.

Step 1: Appraise Your Car’s Trade-in Value

To determine if you’re being offered a reasonable price on your trade-in, you first must know what your car is worth. Use the Edmunds car appraisal tool and look for the trade-in True Market Value (TMV ). Read “How Much Is My Car Worth” if you need tips on how to appraise your car. Print out the results page and take it with you to the dealership. You also can pull up the trade-in value on the Edmunds smartphone app.

It is important to accurately take stock of all the car’s options and to be honest about the condition level. Note that only a small percentage of cars will actually be in “outstanding” condition. Most cars that are well maintained will be in “clean” condition. When in doubt about the condition level, it’s best to err on the side of caution.

Step 2: Get a CarMax Estimate or a Dealership Quote

We recommend taking your vehicle to CarMax for its first appraisal. Show up early and you can get in and out in about 30 minutes. CarMax will give your vehicle a detailed inspection, along with a written appraisal that’s good for up to seven days.

At this point, you can either take the CarMax offer or go to other dealerships to see if they’ll make a better offer. In our experience, we’ve found that CarMax offers more for your trade-in.

If you are “upside down” or “under water” on your car loan, however, you’ll have to pay CarMax the difference between what you owe and what the vehicle appraised for. If you’re not prepared to do that, trading in at a dealership might be a better option.

Don’t have a CarMax nearby? Call the used-car manager of your local dealership to set an appointment for an appraisal on your vehicle. Timing is critical here. Whereas CarMax might have at least two appraisers, most dealerships will only have one person appraising potential trade-ins. If you show up on a Saturday afternoon, you could be waiting for a while. Try to schedule the appraisal for a weekday in the morning, when things are less hectic.

Keep in mind that the trade-in price you’re offered at the dealership (or CarMax, for that matter) can vary depending on a number of factors, including the car’s condition level, the dealer’s current inventory and how likely it is that the car will sell. There may also be special promotions around trade-ins. More about that later.

If you have a CarMax appraisal, you will already have a reference point to compare the dealer’s offer. If not, you may want to try to get two dealers’ appraisals.

Here’s a good strategy you could try: Take your car to a dealer other than one that sells your car’s brand. For example, take your Toyota Camry to a Chevrolet dealer. This way, your car won’t be competing with six other Camrys on the lot. A non-Toyota dealer (which is very likely to sell used cars of other brands) may offer you more for the Camry than the Toyota dealer would.

Step 3: Negotiate or Close the Deal

Once you have appraisals, you have a couple of options. You can either take one of the offers you have, or negotiate (not an option for CarMax) for a better price. If the CarMax offer is the highest, sell it there. If you have your paperwork in order, you could be done in 30-40 minutes. If you are upside down on the car and need to fold the loan balance into your next car’s financing, however, the dealership is the best place to do so.

If you’re deciding between two dealerships with similar offers, you may want to lean toward the one at which you intend to buy your car. This gives you some leverage, since you’re giving the dealership business on both the trade-in and the car purchase.

The first trade-in offer at a dealership is often on the low end, so there’s room to negotiate. Say something like this: “I intend on buying a car from you today, so if you can improve on the trade-in price, I’d love to give you my business.”

Another strategy is to use Edmunds TMV as a guide. Say something like this: “I’ve done some research on this car and it looks like the Edmunds trade-in value is slightly higher than your offer. I realize it’s an average, but can you beat this price?”

Sometimes this will work, sometimes it won’t. But if you’ve solicited more than one offer, you should have some options. If you keep getting the same offers for your trade-in and none of them seem to be what you had in mind, you may have to temper your expectations. This may very well be the market value of the car, no matter what you think it should be worth.

At this point, you can either bite the bullet and take what you’re being offered, or try to sell the car yourself. Some people may even choose to keep the car as a daily driver, rather than pile the miles on the new car.

You may be able to make timing work to your advantage. Target the end of the month, when the dealer may be more willing to give you an attractive offer, or look for special promotions, such as when the dealership may offer extra cash as part of a trade-in event that’s meant to beef up the used-car inventory.

Keep negotiations for the new car and your trade-in separate. The trade-in amount should be written in the contract as a credit against the purchase price of the car. In some states, you only pay sales tax on the difference between the new car and the trade-in. This means that on top of what you receive for your trade-in, you are paying less sales tax on your new car. This tax advantage is a net savings for you and could make you decide that trading in is worth it.

Common Trade-in Mistakes

We’ve just gone over the steps on handling the trade-in like a pro, but the truth is, there are some fairly common mistakes that people make when they’re trading in a car. Here are some and how to avoid them.

Bringing a freshly cleaned car: A former car salesman told us that there’s no better way to spot a person who will be buying a car that day than to look for someone who arrives with a sparkling-clean car.

You might be thinking, “Don’t you want the car to be clean so it can make a good impression?” The truth is, a little bit of dirt won’t change the value of the car. That’s not to say that you should bring in a car with a bunch of fast food bags and soda cans strewn about, but don’t feel the need to have the car detailed beforehand. This way, you can play your cards close to the vest about whether you really intend to buy that day.

Repairing the car: People sometimes try to fix dents on their cars or throw on a new set of tires, thinking it will substantially add to the value of their trade-in. This seldom works. The dealer can usually fix flaws and put on new tires for substantially less than you can.

Overestimating the value: People tend to get sentimentally attached to their cars and often think they’re worth more than they actually are. They look for the car’s highest value on an appraisal site and treat it as though it were set in stone. The truth is that appraisals are averages, meaning some people are offered less and others more. Rather than fighting over the car’s value, your efforts might be better spent on negotiating the price of your new car.

Hiding information: Some shoppers fib about a trade-in offer they’ve received in the hopes that the dealer might try to beat the imaginary offer. This rarely works. An experienced appraiser will either see right through the inflated offer or call the bluff by asking to see the estimate in writing. If your offer is for real, display it proudly. This is where the CarMax in-writing offer comes in handy.

Also, some shoppers wait until the last minute to mention that they have a trade-in as part of the car-buying deal. This is one of the top Car Buying Myths out there. It’s best to be up front about the trade-in from the very beginning.

If you follow these steps and sidestep the common pitfalls, the trade-in process will run smoothly. The key is to know what your car is worth, shop around and be realistic about the offers you get.


10 Steps to Leasing a New Car #car #deals


#leasing cars
#

10 Steps to Leasing a New Car

1 of 3

Step 1: Get Acquainted With Leasing

Car leasing is really just like a car rental, but for a longer time period and with some extra fees. Many people prefer leasing to buying because it allows them to drive a new car for less money than if they purchased it. You should have a good idea by now which car to lease, thanks to “10 Steps to Finding the Right Car for You.” If you are still undecided, review that article and then come back after you have made your choice. And in this first step, it also might be helpful to review some of the other pros and cons of leasing to make sure it is the right financing method for you.

Also, if some of the terminology you encounter is confusing, consult our leasing glossary. Finally, if you’re in a hurry, read our “Quick Guide to Leasing a New Car.”

The next steps will tell you how to locate and negotiate a good monthly payment for the car you want to lease. It will also introduce you to Edmunds Price Promise Lease Offers, which will make the process much faster and stress-free. And if you have any questions along the way, please reach out to the Edmunds Live Help team for free assistance. The team will work hard to make your leasing experience a breeze. You also can be paired with an Edmunds car-leasing expert  who can help you wherever you are in the car-leasing process. This service also is free from Edmunds.

Step 2: Design Your Lease Deal: Years, Miles and Insurance

Edmunds.com recommends that people lease for no longer than three years so your car will always be protected by the manufacturer’s three-year bumper-to-bumper warranty. Some people are tempted to extend their leases to four and five years to reduce the monthly lease payment. But this means you’re investing more money in a vehicle that will never be yours and might need costly repairs.

You should also know that most lease contracts include 12,000 miles a year. So if you drive more than 36,000 miles in three years, you will be charged 10-15 cents for each additional mile. You can buy extra miles up front, usually for 5 cents per mile and have this rolled into your lease payment.

Lease contracts usually call for an up-front payment called “drive-off fees.” Often, advertised leases list high drive-off amounts. However, we recommend you pay only about $1,000 to start the lease. So to summarize, the Edmunds.com recommended lease is: three years, 12,000 included miles per year and about $1,000 in drive-off fees.

One last thing: It’s smart to ask your insurance agent for a coverage quote. Lease companies require higher levels of coverage for leased cars than many individuals carry for cars they’ve bought. The lease company’s liability is higher, and it passes this extra expense along to you.

Step 3: Estimate Your Monthly Lease Payment

It’s a good idea to estimate a possible lease payment yourself so you can spot a good deal as you continue shopping. The formula is complicated, but with a little patience, it is possible to calculate your own lease payment. You also can use the Edmunds.com lease calculator to generate a payment and adjust it based on different parameters, such as mileage and down payment. To use the calculator, you’ll first need to get the residual amount for the car. Call the finance manager at a local dealership and ask for the three-year residual value of the car you want. Put this figure into the calculator along with the mileage, down payment and trade-in to see your estimated monthly payment.

Step 4: Check for Manufacturer Lease Deals

Many carmakers periodically offer highly discounted lease specials. However, the advertised specials might have additional costs in the fine print of the lease ad. You should always check to see if the promised monthly payment includes sales tax and fees and if it also requires high drive-off fees, which are similar to a down payment when you buy a car. Check Edmunds’ Incentives and Rebates section for current offers.

Step 5: Look for Price Promise Lease Offers

Another way to get a great deal is to look for Edmunds Price Promise Lease Offers. Go to the Edmunds.com home page, select a vehicle by clicking on the year, make and model, and you will see cars that are available in your area. Look for the box that says “See Lease Offer,” provide your e-mail address and phone number, and you will immediately see the vehicle’s monthly lease payment, drive-off fees and number of included miles. Call the salesperson listed on the offer to confirm the car is still available, then print out the certificate to take with you to the dealership.

Step 6: Find the Exact Car To Lease

If a Price Promise Lease Offer isn’t available for the car you want, you can locate other cars to lease by going to the Edmunds home page and selecting the year, make and model. After you click “Go,” the next screen displays several sample cars for sale at local dealers. In the upper left corner of the screen, click the link that lists the number of cars available, followed by “Cars for Sale” for a much longer list of cars in your area. If you are interested in one of these cars, contact the dealer to make sure it is still available. If there are several dealerships offering the same car, you may be in a better position to negotiate an even better lease payment.

Step 7: Solicit Quotes Through the Internet Department

We strongly suggest that you shop through the dealership’s Internet department. which offers many advantages over the traditional car shopping experience. Using Edmunds.com, you can simultaneously send requests for price quotes from the Internet managers at local dealerships. After you receive the car price quote, you’ll need to follow up with an e-mail or phone call to get a lease quote (using the factors of three years, 12,000 miles per year and $1,000 in drive-off fees) so you can do an apples-to-apples comparison. Now, compare the quotes you get to your own calculated lease payments or those you received from Price Promise lease offers.

Step 8: Review the Dealership and the Car Salesperson

As you call dealerships to locate your car, you should also test-drive the car salesperson. Ask yourself if you feel comfortable dealing with this person. Does he or she return your phone calls and answer your questions in a straightforward manner? Also, you should take a moment to read any available reviews of the dealerships you are considering.

Step 9: Negotiate Your Best Lease Payment

You now have a handful of price quotes (or even a Price Promise lease offer) and an idea of the level of customer satisfaction at the dealerships you contacted. If you want to try to improve the deal, take the lowest offer, call the other dealers and see if they can beat that price. If no one budges, you are at rock bottom.

Although we highly recommend using the Internet department, many people still go to the car lot in person to make a deal. If you do so, make sure to take along your lease payment estimates and price quotes. Also, download Edmunds.com’s mobile car buying app for any last-minute pricing and inventory research. Then, if the salesperson’s on-the-lot price is too high, you can show the prices you’ve gotten from other dealerships. But make sure you accurately compare quotes by matching the down payment, the length of the lease and the annual mileage allowance.

Whichever method you choose, it is a good idea to ask the salesperson for a worksheet showing all the numbers in the deal. This will reveal any hidden fees and allow you to compare this offer to the quotes you have. And make sure that the quote lease includes sales tax to see what your full monthly payment will be.

One more thing: Before you say yes to the deal, tell the salesperson you are willing to lease if the dealership will have the car delivered to your home or office. This will save you time and allow you to skip the step of visiting the finance office to hear about additional products, such as alarm systems and fabric treatments.

Step 10: Review and Sign the Paperwork

Whether you close the deal at home or at the showroom, the dealership will ask you to sign a contract and an array of documents. At the dealership, this will probably be done in a separate office by the finance and insurance (F


Three Steps To Trading in Your Used Car #car #stickers


#trade in value of car
#

Three Steps To Trading in Your Used Car

1 of 4

You’re getting ready to buy a new or used car. The car you currently drive is in good enough shape and may have some value to it. Should you sell it yourself or trade it in?

Simply put, if you want the most possible money for your vehicle, you’re better off selling it yourself. However, this takes time and perhaps more effort than people are willing to invest. Forty-eight percent of all car purchases in 2013 included a trade-in, according to Edmunds data.

Trade-in offers are typically less than you’d get in a private-party sale because the dealership must factor in the cost to recondition the vehicle and make a profit when it resells it. The plus for car shoppers is that trading in your car can be very convenient. If you follow these tips, you can get the most for your trade-in.

Step 1: Appraise Your Car’s Trade-in Value

To determine if you’re being offered a reasonable price on your trade-in, you first must know what your car is worth. Use the Edmunds car appraisal tool and look for the trade-in True Market Value (TMV ). Read “How Much Is My Car Worth” if you need tips on how to appraise your car. Print out the results page and take it with you to the dealership. You also can pull up the trade-in value on the Edmunds smartphone app.

It is important to accurately take stock of all the car’s options and to be honest about the condition level. Note that only a small percentage of cars will actually be in “outstanding” condition. Most cars that are well maintained will be in “clean” condition. When in doubt about the condition level, it’s best to err on the side of caution.

Step 2: Get a CarMax Estimate or a Dealership Quote

We recommend taking your vehicle to CarMax for its first appraisal. Show up early and you can get in and out in about 30 minutes. CarMax will give your vehicle a detailed inspection, along with a written appraisal that’s good for up to seven days.

At this point, you can either take the CarMax offer or go to other dealerships to see if they’ll make a better offer. In our experience, we’ve found that CarMax offers more for your trade-in.

If you are “upside down” or “under water” on your car loan, however, you’ll have to pay CarMax the difference between what you owe and what the vehicle appraised for. If you’re not prepared to do that, trading in at a dealership might be a better option.

Don’t have a CarMax nearby? Call the used-car manager of your local dealership to set an appointment for an appraisal on your vehicle. Timing is critical here. Whereas CarMax might have at least two appraisers, most dealerships will only have one person appraising potential trade-ins. If you show up on a Saturday afternoon, you could be waiting for a while. Try to schedule the appraisal for a weekday in the morning, when things are less hectic.

Keep in mind that the trade-in price you’re offered at the dealership (or CarMax, for that matter) can vary depending on a number of factors, including the car’s condition level, the dealer’s current inventory and how likely it is that the car will sell. There may also be special promotions around trade-ins. More about that later.

If you have a CarMax appraisal, you will already have a reference point to compare the dealer’s offer. If not, you may want to try to get two dealers’ appraisals.

Here’s a good strategy you could try: Take your car to a dealer other than one that sells your car’s brand. For example, take your Toyota Camry to a Chevrolet dealer. This way, your car won’t be competing with six other Camrys on the lot. A non-Toyota dealer (which is very likely to sell used cars of other brands) may offer you more for the Camry than the Toyota dealer would.

Step 3: Negotiate or Close the Deal

Once you have appraisals, you have a couple of options. You can either take one of the offers you have, or negotiate (not an option for CarMax) for a better price. If the CarMax offer is the highest, sell it there. If you have your paperwork in order, you could be done in 30-40 minutes. If you are upside down on the car and need to fold the loan balance into your next car’s financing, however, the dealership is the best place to do so.

If you’re deciding between two dealerships with similar offers, you may want to lean toward the one at which you intend to buy your car. This gives you some leverage, since you’re giving the dealership business on both the trade-in and the car purchase.

The first trade-in offer at a dealership is often on the low end, so there’s room to negotiate. Say something like this: “I intend on buying a car from you today, so if you can improve on the trade-in price, I’d love to give you my business.”

Another strategy is to use Edmunds TMV as a guide. Say something like this: “I’ve done some research on this car and it looks like the Edmunds trade-in value is slightly higher than your offer. I realize it’s an average, but can you beat this price?”

Sometimes this will work, sometimes it won’t. But if you’ve solicited more than one offer, you should have some options. If you keep getting the same offers for your trade-in and none of them seem to be what you had in mind, you may have to temper your expectations. This may very well be the market value of the car, no matter what you think it should be worth.

At this point, you can either bite the bullet and take what you’re being offered, or try to sell the car yourself. Some people may even choose to keep the car as a daily driver, rather than pile the miles on the new car.

You may be able to make timing work to your advantage. Target the end of the month, when the dealer may be more willing to give you an attractive offer, or look for special promotions, such as when the dealership may offer extra cash as part of a trade-in event that’s meant to beef up the used-car inventory.

Keep negotiations for the new car and your trade-in separate. The trade-in amount should be written in the contract as a credit against the purchase price of the car. In some states, you only pay sales tax on the difference between the new car and the trade-in. This means that on top of what you receive for your trade-in, you are paying less sales tax on your new car. This tax advantage is a net savings for you and could make you decide that trading in is worth it.

Common Trade-in Mistakes

We’ve just gone over the steps on handling the trade-in like a pro, but the truth is, there are some fairly common mistakes that people make when they’re trading in a car. Here are some and how to avoid them.

Bringing a freshly cleaned car: A former car salesman told us that there’s no better way to spot a person who will be buying a car that day than to look for someone who arrives with a sparkling-clean car.

You might be thinking, “Don’t you want the car to be clean so it can make a good impression?” The truth is, a little bit of dirt won’t change the value of the car. That’s not to say that you should bring in a car with a bunch of fast food bags and soda cans strewn about, but don’t feel the need to have the car detailed beforehand. This way, you can play your cards close to the vest about whether you really intend to buy that day.

Repairing the car: People sometimes try to fix dents on their cars or throw on a new set of tires, thinking it will substantially add to the value of their trade-in. This seldom works. The dealer can usually fix flaws and put on new tires for substantially less than you can.

Overestimating the value: People tend to get sentimentally attached to their cars and often think they’re worth more than they actually are. They look for the car’s highest value on an appraisal site and treat it as though it were set in stone. The truth is that appraisals are averages, meaning some people are offered less and others more. Rather than fighting over the car’s value, your efforts might be better spent on negotiating the price of your new car.

Hiding information: Some shoppers fib about a trade-in offer they’ve received in the hopes that the dealer might try to beat the imaginary offer. This rarely works. An experienced appraiser will either see right through the inflated offer or call the bluff by asking to see the estimate in writing. If your offer is for real, display it proudly. This is where the CarMax in-writing offer comes in handy.

Also, some shoppers wait until the last minute to mention that they have a trade-in as part of the car-buying deal. This is one of the top Car Buying Myths out there. It’s best to be up front about the trade-in from the very beginning.

If you follow these steps and sidestep the common pitfalls, the trade-in process will run smoothly. The key is to know what your car is worth, shop around and be realistic about the offers you get.