New Car Buying Guide !!

Why you should consider online car loans: Getting the lowest APR

2008-01-04T21:45:00.000-08:00

Your best benefits of online car loan companies is you don't have to pay application fees, or down payments. Your speedy car loan approval takes just minutes, and you get online access to your loan account. You just can't beat that. Once you have your online auto financing quotes from sites such as Capital One Auto Finance and HSBC Auto Finance, compare that to the dealer's financing so you have a basis to negotiate your best car loan interest rate. The online sites usually have a lower interest rate than dealers, so online car financing rates are the standard that the dealers must beat.

How to lower your current car loan payments: car refinancing tips

2008-01-04T21:42:00.001-08:00

If you got suckered into a high APR car loan, or even got a decent rate on your current car loan, you can refinance your car loan down to a lower rate and save. Many lenders like Capital One Auto Finance and HSBC Auto Finance are offering popular auto refinancing car loans. They pay off your current car loan, and now you pay them back at your new lower APR rate. Read our chapter Auto refinancing tips & scams to avoid, which covers how to lower the APR on your current car loan and auto refinance for people with bad credit. You do not need an appraisal to refinance your car loan.

Safe driving strategies to live by

2008-01-04T21:37:00.000-08:00

If you follow these tips below, you will greatly help yourself avoid wrecks, and injuries, and most importantly, everyone arrives alive.

Don't drag race ever! People often get killed, usually in the other car, then you go to jail
Always wear your seatbelt. Every time we see the news about a couple of teens who die in a wreck, they were not wearing seatbelts and were ejected
You are the driver, so you have authority. Refuse to drive anywhere until ALL passengers are wearing seat belts. No exceptions, be FIRM
Don't talk on your cell phone while driving, you lose concentration. If you must talk, use speaker phone mode
Use the three second rule when driving behind cars so that you won't crash into them when they stop suddenly
Don't put yourself in the situation where you are driving home in the early morning hours after a party. Your reactions are much slower
Don't sneak out of the house at 2 AM to go joy riding, that is when many teens die. Stay in bed. Wake up tomorrow. Enjoy life
Schedule your time better so that you are not in a rush, and risk speeding, or making hasty decisions like weaving in traffic
Don't give in to passengers daring you to run red lights or go faster. They are not the ones who go to jail when someone dies
Always signal seconds before you turn or change lanes
Know all the blind spots on your car by having someone slowly walk around the car as you watch in the mirrors
Never drive if you have been drinking alcohol, and don't let anyone else drive who has had alcohol. Take their keys

Don't let a cell phone land you in a cell

2008-01-04T21:36:00.004-08:00

We all love to talk on our cell phones, but come on, you really don't need to talk on your phone in the car. How can you expect to drive straight with your head cocked at an angle? Have you ever been cut off by someone talking on their cell phone? Have you ever had to pass a car going way too slow because they were talking on their cell phone? It's just a bad idea, because it robs you of your full concentration. The effect is exasperated if you have passengers in the car with stimulus coming at you from all angles. Most safety advocates tell you to pull over and stop if you are going to talk, and many states are starting to pass legislation about cell phone use in the car. If your caller really needs to speak with you, don't you think they can wait 10 minutes? Alternatively, some phones have speaker phone mode, so you can just put the phone down and talk.

Whenever you turn of change lanes, always signal several seconds before doing so, no exceptions

2008-01-04T21:36:00.003-08:00

It's amazing how many wrecks will be prevented, because if you are about to change lanes and possibly hit another car, your blinker will give that driver enough time to take evasive action and avoid a crash that you would have caused.

Physics Lesson:

2008-01-04T21:36:00.001-08:00

If you are traveling at 35 MPH and get into a wreck, due to the moment of inertia your 150 pound body has, you MUST to be capable of bench pressing about 600 pounds to keep yourself from slamming into the windshield. This is not made up, it is a force of nature fact. No human I know can bench press 600 pounds, much less protect themselves in the 1/100th of a second it takes to slam into the windshield at 60+ MPH. Remember, in an accident, the used car has already stopped, but you are still moving at 60+ MPH, thanks mostly to Newton's Law about objects in motion wanting to remain in motion until acted on by an outside force, i.e., windshield. Gosh, if only you had known about that silly little formula before you got into the used car! Should have paid attention in Physics lab!

People who refuse to wear seatbelts always tell us "I can react in time and brace myself". They obviously do not understand the forces of inertia, and the simple formula m1v1=m2v2. Most people are unaware it takes about 0.75 seconds for your foot to start pressing the brake once you spot trouble. The same principle applies to your false confidence that you can protect yourself from slamming into the windshield in 1/100th of a second. You owe it to yourself, and your loved ones to wear your seatbelt. You must demand that all passengers in your car wear seat belts. They will not think you are foolish, they will respect you when they see you are adamant about it. And if you happen to get into an accident that everyone walks away from, you will be their hero.

Teen Driver Safety

2007-12-23T08:35:00.001-08:00

The leading cause of death among teens - car accidents

Just like buying a new car, there is no Undo button.

Now let's turn our attention to the post sale side of teen car buying, the teen driver safety side. A new car in the hands of an inexperienced teen who does not understand the laws of nature is a lethal weapon. It's a very important responsibility that must be taken seriously, or people will die. It's amazing how every day we turn on the TV and hear of a couple of teens who die in a drag race, or crashed into a tree on the way home from a party, or even during lunch hour at school while partying and speeding where they should not be. Take a look at our car crash photo gallery, Download Software, maybe it will sober you up when you see what can happen when you are not a careful driver.

You would think after all these years and deaths, that our teens would have gotten the message, but there is a never ending supply of young people who think they are invincible, and that it could never happen to them. But it can happen to them, to their friends, to anyone at anytime. It happens every week at a high school somewhere.

It's heart breaking here in South Florida, that every where we go, we keep seeing all these makeshift graves setup after a few teens die in a crash. It's not just one or two here and there, they are sprinkled all over the place, in clusters of 2, 3 and 4! They place these giant lollipop signs that say "Drive Safely" all along the roadside, to indicate where people have died in wrecks. It's real gut wrenching to see them around Christmas, when the parents of those killed go decorate the lollipop signs with Christmas flowers and ornaments, and leave gifts. There are way too many of these grave sites, and we must stop this proliferation now. That is under direct control of you the young driver. There's one spot in Boca Raton where more than 8 teens have died in a few crashes because someone got careless, I think 5 of them died in one crash, and they often speed without wearing seatbelts. If only they would wear their seatbelts, they all probably would have lived.

Our state roads are becoming one big cemetery, and it's all our responsibility to prevent this cancer from growing. This responsibility is ours to impart wisdom to these young adults, but the ultimate responsibility resides with the drivers that are causing the wrecks. We must motivate these young drivers to prevent these accidents and deaths for occurring. Every time passengers get into your car, picture yourself at their funeral apologizing to their mother how it wasn't really your fault their baby is dead after getting into your car and dying in a wreck that could have been prevented, and you get to keep on living and have a normal life. Then while you are moving on and enjoying your normal life, you leave behind you a wake of devastation and family members who never heal, and whose lives now become empty with their loss.

Just think for a moment how much human effort went into bringing your young friend into this world and raising them up before you wipe it out in 1/100th of a second. Their mother labored for 9 months, planned for the baby, spent months preparing the home for the baby, spent thousands of dollars over the years to feed, change diapers, clothe the baby, raise the young child, worry over them, gave up half their life and schedule to fit around their kid's life, than it all gets wiped out in an instant. You really don't want to be responsible for that type of tragic loss.

Vehicle Maintenance costs

2007-12-23T08:34:00.000-08:00

Welcome to the party pal! There's more costs to car ownership online vehicle than just your monthly payment. Many people overlook this other large expense of car ownership, and instead focus on just the monthly payments of their car loan. But you also have other expensive obligations to your vehicle, which you now become slave to. Assume your insurance is $2400 annually, your monthly obligation adds $200 on top of your car loan. You better be ready for that. You can expect your monthly gas bill to be about $60. You should assume your tires will need replacing once a year at $160 per tire or $640 annually, and maybe more for a wheel alignment. Then there's the twice a year oil changes, and you must allow for one medium sized repair every year. Add all those up, calculate your average monthly expense, and add it to your car loan and see if you can afford it. I bet you won't be able to afford it. If you cannot work all those costs into your budget, then you need to buy a cheaper used car to allow for your maintenance costs. This nails a lot of people who don't leave room in their budget for ALL ownership costs. Don't bite off more than you can chew, don't try to maximize your monthly payment without leaving room for maintenance items, car insurance, and unexpected repairs.

You should get Underinsured or Uninsured Motorist Coverage

2007-12-23T08:30:00.000-08:00

One of my personal favorites. I think EVERYONE should have this coverage, because it protects us from all the loser morons out there who refuse to insure their cars. Here in Florida, uninsured drivers is worse than a problem, it's a plague. I know so many people who got burnt royally because of uninsured drivers. In Florida you have to show proof of insurance to renew your tags. But many people just take out a policy, send in proof to the state, then let the policy lapse after a month, and then the policy gets canceled. If I was king, the insurance companies would notify the state, who would then send a tow truck to impound these losers' cars, and they don't get them back until they renew the insurance, and pay the towing fees on top of that. Underinsured Motorist coverage pays for your injuries up to the policy limit when the other driver either has no insurance, or their lame coverage can't pay for you injuries or property damage. This coverage usually includes hit and run drivers as well.

Insurance rates for teens especially are very costly, often in the $5000 range

2007-12-22T20:17:00.000-08:00

You can expect to be heavily blindsided by insurance costs if you are high school teenager looking to buy a new car. Just try to get a quote on a Mustang, and if they don't laugh you out of their office, you'll see numbers like $5000. In fact, car insurance rates are usually higher on 2 doors cars than on 4 door cars, usually because of the sportier status of 2 door cars. They know you are likely to race. This is why you see a lot of younger kids buying these little 4 door cars for the lower insurance rates, then rigging them up to the hilt to make them go faster. Insurance rates also depend on what part of town you live in, your local population and how many miles you drive annually. You can shop around your auto insurance rates at sites like Comparison Market, GEICO and Progressive Auto Insurance. Your insurance rates may drop a bit if you have an alarm on the car, or if you keep it in your garage. You must include car insurance in your annual cost budget to see if you can afford to keep driving the car you bought. You cannot go without car insurance, it is illegal, and disrespectful to others on the road, who are relying on you having insurance should you cause a wreck. See if you can get in on your parent's auto insurance, of if there is an umbrella policy protecting the house and all cars. Either way, make sure you get full coverage including with high coverage amounts car loans.

How to lower your current car loan payments

2007-11-30T08:14:00.000-08:00

If you got suckered into a high APR car loan, just wait about 6 months and you can refinance your car loan down to a lower rate and save money. This is how big corporations work. They are constantly restructuring their debt to get their interest rates lower and save money. This is how we should run our own finances too. Why should you keep paying a high interest rate when there is a lender waiting to refinance your car loan down to a much lower interest rate? Fast and easy lenders like Capital One Auto Finance or HSBC Auto Finance are offering popular auto refinancing loans. They pay off your current car loan, and now you pay them back at your new lower APR rate. Your car loan can be completely refinanced within 2 days after you apply. Do your friends a huge favor. If you know anyone who is paying a high APR car loan, have them read this article, you'll save them thousands, and you'll be their hero.

What lenders look for to approve you for a car loan

2007-11-30T08:13:00.002-08:00

Documented Monthly income of $1600 or more
Living in the same address for at least 6 months
Employed by the same company for 6 months
Preferably a year of established credit with no black marks
Credit score of 680 or higher to get lowest prevailing interest rates
If your credit score is 600 to 680 you'll pay higher rates like 10%-15% APR
If your credit score is below 600, it's very difficult to get approval, and below 550 it is nearly impossible

Let's look at how paying a high interest rate does an enormous amount of damage to your wallet over time. A person like me with a great credit score might get a car loan at 4%. But if you have a bad credit history, or no credit history at all, you can pay up to 6 times the amount of interest over the life of your loan that I might pay. This is why people who are broke will stay broke all their lives and never break the downward spiral, because they spend virtually all their income on interest charges and late fees. Sometimes the financing interest rate (APR) of a car loan can be so high that the payments will actually keep you from getting a car you wanted, all due to the higher APR. Look at this table below to see how bad the damage gets on a $15,000 car loan for 48 months:

Interest Rate (% APR)	Monthly Payment	Total Interest Paid on loan in 48 months
4% (Good Credit)	$339	$1257
10%	$380	$3261
15%	$418	$5038
21% (Bad Credit)	$464	$7296

Looking at the table above, you can see how urgent it is for you to establish healthy credit, and maintain your healthy credit score, or you will spend your whole life wasting your meager earnings on interest, when it should be building your nest egg. This is why most people, even those ready to retire are broke. A lifetime of careless spending habits, paying only the minimum monthly payment, and paying full price for everything has left them with no nest egg.

You should get Underinsured or Uninsured Motorist Coverage

2007-11-29T05:07:00.001-08:00

Vehicle Maintenance costs

2007-11-29T05:05:00.000-08:00

Welcome to the party pal! There's more costs to car ownership than just your monthly payment. Many people overlook this other large expense of car ownership, and instead focus on just the monthly payments of their car loan. But you also have other expensive obligations to your vehicle, which you now become slave to. Assume your insurance is $2400 annually, your monthly obligation adds $200 on top of your car loan. You better be ready for that. You can expect your monthly gas bill to be about $60. You should assume your tires will need replacing once a year at $160 per tire or $640 annually, and maybe more for a wheel alignment. Then there's the twice a year oil changes, and you must allow for one medium sized repair every year. Add all those up, calculate your average monthly expense, and add it to your car loan and see if you can afford it. I bet you won't be able to afford it. If you cannot work all those costs into your budget, then you need to buy a cheaper car to allow for your maintenance costs. This nails a lot of people who don't leave room in their budget for ALL ownership costs. Don't bite off more than you can chew, don't try to maximize your monthly payment without leaving room for maintenance items, car insurance, and unexpected repairs.

Insurance rates for teens especially are very costly, often in the $5000 range

2007-11-29T05:04:00.000-08:00

What do you do if you have no credit history at all? How do you establish credit?

2007-11-08T03:05:00.000-08:00

What if you have no credit at all? How can you win the chicken and the egg game if lenders only lend money to people with established credit? This is the other big hurtle faced by most first time buyers. You must establish credit. Once you do, you must be responsible and pay on time, and don't overspend. This might require you to wait another 6 months to a year on the car loan while you go and get your credit established, and build somewhat of a history showing that you pay your monthly revolving credit card bills on time. A good time to do this then would be 6 months before you think you might buy a new car. It's fairly easy to get a gas card from your favorite gas station, or a credit card from Target stores. As you do your normal shopping at Target, use your credit card, but pay it off in full each month. Don't overspend, and never let any balance on any of your credit cards reach the level of 50% of your credit limit. That has a bad effect on your credit score. Then while you are in your 6 month building credit period, you are saving even more money to put down on the car, making your payments less. Patience pays off in the long run.

Until you get your first credit card, you probably have no credit score, or it's below 550, where no lender will touch you. This is why people get rejected. It is so unbelievably amazing how stupid many "adults" are, who think they can breeze their way through life and not pay their bills, thinking no one is watching. Big brother is indeed watching. Every bill you refuse to pay, doctors bills, credit card payments, loan installments, traffic tickets, bankruptcies, foreclosures, late apartment rent, arrest records, ALL gets reported on your credit report, and it definitely 100% keeps you from getting financing later in life, for 7 years. I hope you heed our warnings and that you'll learn from other people's mistakes, not your own, be much smarter from than these people. Lastly, lenders will not approve loans on any used car over 5 years old. So if you are buying an older used car, the only way to finance it is with cash. Don't fall for any crazy off the wall financing schemes here, just pay cash on older used cars.

If your Credit Score is <>Capital One Auto Finance can provide financing for people with scores of 600 or even lower if other qualifications are met. You can also apply to AutoCreditFinders, who finds "bad credit car loans" for you. They get you new car financing from their network of high risk lenders and car dealers with decent online auto loan rates, even with a bankruptcy. If your score is > 550, and you have no bad credit for 6 months, AutoCreditFinders Bad Credit Auto Loans can help you establish credit with lower online auto loan rates than dealers. If you had bad credit in the past, then a bad credit auto loan might be your only hope.

Rules of the auto financing the game you must play by

2007-11-08T03:02:00.000-08:00

So here's the rules of auto financing the game. Be approving you for a car loan, lenders want you to have an established pattern of credit showing you paid your bills on time, no black marks on your credit history, no forgetting to pay your bills, no paying your bills 30, 60, 90 days past due. Lenders want to see you have a minimum monthly income of $1600, so if you work part time at Blockbuster Video, forget about getting a car loan, you won't meet the minimum criteria.

Before approving you for a car loan, lenders and car dealers pull your credit report and look at all your past creditors and current open accounts. They don't like to see lots of open accounts, so keep it to a bare minimum, you don't need every department store card, in fact you don't need any. I tell people just get one gas card, and one MasterCard, and pay them off every month, don't run a balance, or you will pay 21% interest on your credit card. That is what puts people horribly behind, because if you only pay the minimum credit card payment, it will take you 10-11 years to pay off the credit card. Lenders also don't want to see any of your credit card balances above 50%, or they will reject you. Lenders want proof that you have been living at the same address for 6 months, otherwise you'll get rejected. Statistics show people not in place for 6 months are nomads, otherwise why do they keep moving? These nomads are very likely to default on their loan. In the car financing landscape, there is online financing, and car dealer financing.

Lack of credit history

2007-11-08T02:59:00.000-08:00

We advise all car buyers not to apply for a car loan unless you have checked your own credit score and credit report first. After all, that is what the car dealers do, so you better know what's wrong before they do. A car salesperson should never know more about your credit than you do. What is this concept of credit history? Why won't they just lend me money for my car? This is the first barrier that crushes your dream to buy that new car. Many young adults have not yet established credit of their own yet, because Mom and Dad have been footing the bill until now, but maybe Mom and Dad cannot afford to buy that first car for you, so you try it on your own. Reality hits you real hard here, because this is where most people fail to understand the rules of the game in order to get approved for a car loan. People with bad credit pay higher auto loan interest rates. It can hurt your job prospects, insurance companies check your credit too. Get your credit report instantly online, it's a must for The Folder. DO NOT apply for new car loans until you get your credit report WITH credit score. Get your credit score online at Experian, Equifax or TrueCredit. Remember, you can run your own credit file all you want, but if dealers run it for new car loans, then your score drops a few points. If your Credit Score is <>repair your own credit at our other site DebtWizards.com. Your last auto financing resort is a bad credit auto loan. Some car buyers who keep getting rejected make matters worse by continuously applying for a car loan anywhere they can, hoping it will stick, but all it does is drive their credit score lower. Keep in mind that many adults are pretty brain dead in the car financing area too, so you often have one generation of ignorance teaching the next. There is also a lot of sleaze in the bad credit car loan market, because it truly is hard to find lenders who will finance you, so your sales lead keeps getting sold around until they find a lender willing to approve your car loan.

Barriers to getting your fist car

2007-10-26T23:34:00.003-07:00

Since you have never bought a car before, here are the barriers and concepts you must keep in mind when car shopping:

Lack of credit history is the biggest barrier, it is very difficult to get a car loan
Some car salespeople will rake you over the coals if you are a first time car buyer
Lenders won't approve car loans on used cars older than 5 years
Insurance rates for teens especially are very costly, often in the $5000 range
Insurance rates for single males under the age of 25 are also very costly
Now you have to deal with car repairs and other maintenance costs, new tires, etc.
Safety perspective: Teen driving safety issues

Let's examine some of the above barriers to buying your first car in more detail:

There is no 3 day buyer's remorse grace period for you to return the car after buying it

2007-10-26T23:34:00.001-07:00

There is no "undo button" when you buy a car. You buy it, the deal is done. There is no 3 day grace period to return your car, although many people erroneously think there is one. You should not continue to shop for cars after you buy your car and expect the dealer to take the car back, just because you found it cheaper later on. It's unethical and not the way to do business. We get emails about this all the time, and just delete them.

If you cannot squeeze that car loan into 48 months, do not buy that car, you are heading down a path of destruction.

2007-10-26T23:33:00.001-07:00

You don't want to spend the next 6 years paying off a car. Go buy a cheaper car instead. Remember, your car loan is but one of many cost items contributing to your overall cost of vehicle ownership. Most people overlook all the other cost items and get into trouble real quick, not realizing insurance goes up on a new car. You should create a budget that accounts for all your annual costs to own that car, like loan payments, tires, insurance, maintenance, etc. Then from your budget, you should determine if you can handle that much of an annual drain on your finances. If you cannot afford a new car, we suggest buying a quality dependable used car like Honda Accord or Toyota Camry, which typically run years with out costly repair issues. That is what is most important with your first car, safety and dependability, especially once you head off to college and cannot afford a single thing to go wrong. If you are going to buy a used car, be sure you read our guide How To Buy a Used Car And Avoid Scams. It's the best used car buying advice, with our used car bill of sale form, reviews of online used car classifieds, how to buy a used car from dealers or private sellers, negotiating with tough sellers, scams to avoid and a list of questions for you to print out to ask the seller. DO not attempt to buy a used car until you read that chapter. If you buy a used car, you absolutely must go get an AutoCheck Vehicle History Report on the Vehicle Identification Number (VIN) AND have a mechanic inspect the car on a lift. If you do not do both of these vital steps, then do not buy that used car. You have been warned. Do not email me asking how you get out of your purchase if something goes wrong, because I cannot help you. You must nip the problem proactively in the bud, not reactively after it happens.

First Time Car Buying

2007-10-26T23:31:00.000-07:00

If you are a teenager in high school, or a college student with no established credit history, there are a number of barriers in the way to your entry into car ownership. When you are young and invincible, you have all these starry eyed dreams about the car you are going to get, then reality sets in, as concepts you never had to deal with before suddenly leap out of no where to crush your dream and knock you back down to earth. How are you going to pay for your new car? Have you gotten insurance quotes? Who will finance you? Now you have to pay $80 a month in gas, and there's oil changes, new batteries to buy, and other unexpected expenses. We advise all car buyers to purchase a car that you can afford to pay off in 48 months. You must also put down 20% on the car to keep from getting upside down, where you owe more on the car than it is worth. If you cannot put down 20% on the car, then do not buy that car. You must buy a car in which you can afford to put down 20%. There is no room for arrogance or indignant responses here, it's a mathematical fact of life. Every single person who breaks this rule runs into trouble when they trade in their car later. You never ever want to be in the position of owing more than your car is worth. If you determine that you can afford a new car, then make sure you enter new car dealers with The Folder of competitive new car price quotes, or you'll overpay by thousands. Cars.com, InvoiceDealers, Yahoo!Autos, CarsDirect, Edmunds.com, Autoweb, Autos.com and Car.com all help you save when buying new cars.

Don't be held hostage! Don't give them your Drivers License or Social Security number!

2007-10-09T06:42:00.003-07:00

You'll need it to break off negotiations and leave. Many new car dealers photocopy your license before a test drive. Tell them there is no reason to. They'll say insurance requires it. Car rental agencies don't copy your license and you're taking their car for a week! Some dealers copy your license "in case you rob the salesman". Other dealers copy your license to run unauthorized credit checks on you during your test drive, still a top complaint we receive. Make copies of your license and when they ask for your license, hand them the copy, get it back when you leave. Write on the copy the dealer may NOT run a credit check on you. Remind them the FTC fines $2500 for unauthorized credit checks. Many dealers are honest and will photocopy your license on a copier at the front desk and give it right back. But some, while you're out on the test drive, run a credit check on you. Then they give your info to local banks, who run credit checks. Now you have 5-6 credit checks on your record. This will haunt you when you buy furniture and apply for credit. You'll get rejected for 5-6 checks on your credit with no credit issued. Don't give personal info until you have signed the buyer's order and are doing dealer financing. How can you tell if they ran a credit check on you? Online from Experian, Equifax or TrueCredit. You can run your own credit report as often as you like and it will not lower your credit score.

You won't be able to buy a car from ANY dealer's ad for the price they quote.TM

2007-10-09T06:42:00.001-07:00

Many dealers email me to say this is not so. Yes you'll find some good dealers out there who do honor their ads. But since 1997, only 2 visitors to this site have told me they were able to buy a car at the advertised price. Ignore mailings they send you, disguised to look like DMV envelopes, The NY Attorney General found they were deceptive and had the capacity to mislead consumers because they closely resembled those used by the DMV. New car dealers mailed out "scratch off cards" which stated that "You Are Definitely a Winner Of a cash award up to $1,000, a $10,000 bond or a valuable gift." Car buyers were required to bring the card to the dealership on a designated day, to be scratched off in the presence of a dealer representative. Ultimately, the only prizes actually won by consumers were a $2 cash prize, a $5 cash prize, flashlight or "consolation" prize.

You have enemies to overcome when you buy a car, the first is yourself, your ignorance, your ego, and fear of the unknown. We'll turn that into a target rich environment of opportunities for a successful new car purchase. Buy a car where salespeople are not on commission, but on a salary. They still want top dollar, they just don't have commission fever. Some no haggle dealers give good deals, while most do not. Shop in a competitive market like Houston, Texas, with 7 Nissan dealers to shop your deal around. Make your offer as shown in this site, bounce it off all the car dealers, and even "No Haggle" dealers will bite. Many "No Haggle" dealers have a "low" price on the windshield that you find out later included the rebate, so they actually charged you (MSRP - Rebate), which is no bargain. Dealing with a fleet manager can be helpful, since they are not on commission. If you make an appointment, show up, it's bad business if you don't. Good salespeople like an informed consumer, it's easier to sell them a car, at a FAIR price for both parties.

How A Car Dealer Profits From Your New Car Purchase:

2007-10-09T06:41:00.001-07:00

You think new car dealers have just one way to coax money out of you when car buying? Thank you for playing. Some new car dealers convince you to spend so much, you didn't know you were taken for a ride! Car buyers who brag of high trade in value were asleep at the wheel leaving money on the table in other parts of the deal.

4 Ways A Car Dealer Profits From Your New Car Purchase

1) Offers you $3000 to $4000 below market price for your trade-in.
2) The new car purchase price when buying a car.
3) Marking up the rate they give you for new car financing.
4) Environmental package extras and new car extended warranties.

I'll show you how to prevent losses in these areas. Get your financing in order BEFORE you shop with Capital One Auto Finance or HSBC Auto Finance, as shown in Chapter 1. Here's the first of many of my car buying physics formulas:

What are online new car buying sites and how do I buy a car online?

2007-10-09T06:39:00.000-07:00

If you haven't bought a new car since 2000, everything you knew before is old school. Savvy new car buyers use online new car buying sites like Cars.com, InvoiceDealers, Yahoo!Autos, CarsDirect, Edmunds.com, Autoweb, Autos.com and Car.com for dealer invoice pricing and new car purchase requests, to see what their car is selling for before they enter a dealer. You need at least 3 new car purchase quotes to have negotiating strength. We always point out multiple places to go, for the best competition. We review them all in chapter 2. Other useful new car loan sites you should use to get lower APR: Capital One Auto Finance and HSBC Auto Finance. For new auto warranties the best company is Warranty Direct.

Warning About New Car Dealer Advertising:

2007-01-10T02:07:00.000-08:00

Advertisers spends millions in psychological wording research to trick you. Marketers have been lying to us for years. Why does a 2 foot long bag of potato chips have only 6" of chips in a bag blown up like a balloon? No one would buy a 6" bag of chips for $3.99. "Some settling may have occurred during shipping." Translation: Some lying may have occurred during marketing! Here's some classic examples:
1.9% APR** With approved credit
You thought it said "I love Paris in the Springtime" right? Wrong! See the extra "the"? It really says "I love Paris in the the Springtime". Your brain tricked you, as I knew it would. A store can't sell 30 cases of beans at 25 cents each, so they make an aisle stack with a sign that said 3 for $1 and sold out in 2 days, for 8 cents more per can! You'll be tricked into thinking you are paying less, when you are actually paying more. Advertisers rely on your brain to trick you so they don't have to lie. How about this slogan mouthwash: "Helps fight the germs that cause bad breath." Wow, you think, it will kill the germs in my mouth and I won't have bad breath! Wrong, I said it "helps kill the germs". I did not say that it actually kills the germs. If it does not hurt the process, then it helps the process, right? Therefore it helps kill the germs. It's all word games. When new dealer ads say 1.9% APR, look for the "*" (fine print). It will say "with approved credit only", or "qualified buyers only". This 1.9% reels you car buyers in, and you must have perfect credit to get a 1.9% APR auto loan. Most car buyers don't. Other new car dealer scams you may hear on the radio:
"We'll Get You Out Of Your Current Lease No Matter How Much You Still Owe!""We'll Payoff Your Loan No Matter How Much You Still Own!""We'll Give You $4000 For Any Trade-In!""Don't Make A $5000 Mistake!""No Reasonable Offer Will Be Refused!" (Except yours, because it's unreasonable)
In the ads above, car dealers are not doing you any favors, they want you to buy a car from them. They also want your trade in so they can give you $4,000 below market value, sell you a new car at full MSRP, then resell your trade in for a high price. Here's how the scam works: If you are upside down on your car loan and you still owe $10,000 for it, the dealer pays off your car loan, then you owe that $10,000 to the dealer. This gets financed along with your new car purchase of say, $15,000. Now you are financing 2 cars for $25,000! Did you know that? Your new car purchase payments are spread out over 60 or 72 months so you don't notice what just happened. The more months they add to the new auto loan, the lower the payments. In many cases the payments could be less than your current auto loan, so you think you're saving money when you just got shafted! Their ad made you think that trading in a car relieves you of your obligation to that car. It does not! This gets many car buyers into trouble. You are actually taking on double your current debt, when you thought you were dropping one debt for another and buying a new car. They lied to you in their ad, they are not doing you any favors, they are piling more debt onto you. They dipped you out of it and then dipped you right back into it under their umbrella of debt. Very clever trick, but now you're onto them. Next time you hear those ads, you'll know what they're up to. Trade-in buyers are the world's dumbest people and never pay attention to the back end of the deal, only the front. Here's how the new car buying ads should be worded:
"We'll Get You Out Of Your Current Lease, then roll what you owe plus penalties into your new car purchase, so you can payoff 2 cars!"

New car buying tips for military personnel

2007-01-10T02:06:00.002-08:00

Military personnel are scammed badly by businesses around military bases, particularly car dealers. They prey on personnel with bad credit. My research with friends in the military supports this. Sure there are local businesses that are honest, but many just take advantage of the soldiers who work so hard to protect their freedom. Tell every military person you know to read this site, as well as our other free site DebtWizards.Com which will help them clear up their bad credit themselves, and avoid all the credit doctor scams, consolidation loan scams.

Your Proactive Steps To Saving Money When Buying A New Car

2007-01-10T02:06:00.001-08:00

1) Create a budget, obtain your credit report, get your car financing in order.
2) Use car buying sites for new car dealer invoice price, new car price quotes.
3) Get financing online before you go to the dealership with Capital One Auto Finance or E-Loan. 4) Visit new car dealers or their web sites to view new car model configurations.
5) Use new car pricing info from FightingChance.com and our new car offer spreadsheet.
6) Negotiate your new car purchase via phone, fax, email, or in person based on our spreadsheet.
7) Close on your new car purchase, avoid needless extras, use the internet to buy an extended warranty.
8) Wreck your new car on the way home, Go back to step 1.

Should You Buy A Car For Cash Or Finance It?

2007-01-10T02:05:00.001-08:00

Some people say "why spend $30k cash when you can invest it and make 15% on your money and use your gains to pay the 8% APR Loan". Easier said than done. No one can guarantee you'll make money investing it, and a car is not an investment, so stop obsessing over the loss. However I subscribe to the view that you can't put a price on not having a payment. I did not have $47k to put down on my first Lexus, so I borrowed $30k and sent in extra principle payments, paying it off a year early, saving on interest. That is more financially sound than people who invested in Enron at $60.

Rude things that you the new car buyer should NEVER do

2007-01-10T02:04:00.000-08:00

Don't lie about the condition of your trade in. You wouldn't like it if it happened to you.
Don't waste the salesperson's day car shopping if you have a recent bankruptcy. You won't get auto loan approval after recent bankruptcy.
Don't put down a deposit and try to take it back for no reason. You would not like it if they reneged on you. Research your new car purchase before you buy, not after you buy a car. Don't give a deposit no matter how much they pressure you into buying a car until you are 100% sure.
Don't lie about your income or debt load. They run your credit report to verify it.
Don't make an unreasonable offer without actually knowing the dealer cost.
Don't spout off how the salesperson is making $3000 on the deal. If you're getting a super low deal, the salesperson is probably getting $100 max.
Don't be rude when it comes to the low rebate or the ultra low APR, you either get one or the other.

Don't wait until your clunker is ready to die before going to buy a car.

2007-01-09T05:06:00.003-08:00

It takes 2 months to shop, decide, haggle, and buy a car. If your car is dying, you'll be forced into making hasty decisions and signing deals you should never have signed. Never let a dealer know you are desperate for a car. Don't dump money into fixing up a clunker, take the loss, use the cash towards the new car, and move on with your life. There's nothing I can do for you.

DO NOT let Dealer "A" locate your new car from Dealer "B"... Don't do it!

2007-01-09T05:06:00.001-08:00

We discourage car buyers from letting Dealer A get your new car from Dealer B. Sometimes due to geography and lack of dealer coverage while buying a car, you may have no choice. Some dealers routinely locate new cars for car buyers and make them quite happy. But 99% of the time I hear complaints from buyers about this. The complaint ratio is so close to 100% that we tell you to always avoid this situation. It's a crap shoot and the house always wins. I suggest you just find out who Dealer B is and go buy a car from them. One dealer told me the best advice if a Dealer A offers to locate a your new car from Dealer B, don't sign anything until you've seen the car, or sign a letter of intent that the contract is not binding until you have seen the car and given your ok. I always hear of games and scams when dealer A has the car shipped from dealer B, because of towing costs, and dealer A loses the holdback to the original Dealer B. All sorts of fees show up. Even worse, the wrong car shows up and you are stuck buying car you don't want because you put down a deposit! I also get lots of complaints about missing MSRP stickers, which is a felony. You'll eliminate these issues if you buy a car from the dealer who has the car. Search all the dealer web sites for their inventory. Before you give ANY money, be sure you have a written buyer's order from them clearly stating what new car you are buying, the VIN#, the color, and all the options, so there is no doubt what you are paying for. If they give you bogus lip service about "not knowing the VIN# yet", they are lying.

Buying a car from the factory through new car dealers...

2007-01-09T05:05:00.001-08:00

If the dealer does not have your car and options, they can order it from the factory. The car should not cost more than the cars on the lot, but some dealers fool you. It does not cost dealers more, it's ordered as part of their weekly buying. Because new car factory orders don't sit on a lot waiting to sell, they cost dealers $0 on interest. New car dealers require a deposit of $500-$1000, try not to give more than $500. Don't pay deposits by check, use a credit card only. When the car comes in and they jack the price up $1000 telling you there was "a price increase", it's easy to dispute it off your credit card. But if you paid by check, they cashed it baby, and you're stuck. There should be no fees, it's just a normal car deal. Lead time is 8 weeks to 6 months.

Don't trade in a car you owe money on to buy a new car

2007-01-09T05:04:00.000-08:00

What stinks about trading in a car you owe money on to buy a car is too often the dealer does not pay off your auto loan on time, they could care less about your obligations. But legally, the car loan still belongs to you until the dealer pays it off so you have to make sure that your bank gets payments on time. Many people complain to us after their new auto purchase, the dealer never paid of their auto loan, and the bank is charging them late fees. If you are foolish enough to trade in a car that you still owe money on, make them put in writing that they will pay off the car in 10 days as required by the bank. If the dealer refuses, do not do complete the deal.

How to get a car loan for people with bad credit

2007-01-06T21:21:00.001-08:00

If your credit score is below 680 and you keep getting rejected, don't submit applications everywhere that keep getting you rejected. Instead, submit one application to a bad credit auto loan resource like AutoCreditFinders, that specializes in finding bad credit car loans for people with low credit scores. They take your application and can find you car financing from underwriters who specialize in high risk car loans. Even if you have previous bankruptcy, tax liens, or bad credit, as long as your credit score is 525 or above, and bankruptcies have been discharged, your chances are good. You should be working for at least 6 months and have no bad credit in the last 6 months. You can expect to pay more APR than someone with good credit, but this can help re-establish credit for you. After a few months of paying on time, you may be able to auto refinance to a lower APR.

"We found you a lower APR on your car loan, come down and resign the papers..."

2007-01-06T21:20:00.000-08:00

This is the #1 new car buying complaint I get every day: A common scam is the dealer calls 2 weeks after the sale to say "financing fell through, we need more cash", and they blame some black mark on your credit history. Another twist is they lie and say "we found you a lower rate, come resign the loan papers." Their scam was mapped out when you bought the car and they printed your credit report. Most sites give your report with score for $12-$15, be sure to add the credit score option. Most people mistakenly think credit reports are free. The only time you get a free credit report is if you're turned down for credit, then it's a no name bare bones report. Only a few states are free. You can get your credit report online from Experian, Equifax or TrueCredit. Most people don't know what's on their credit report, yet the car dealers have! Stop here, and Get Your Credit Report before you forget.

New car buyers biggest mistake. You don't know your credit score?

2006-12-31T01:26:00.000-08:00

Most people know their blood pressure and cholesterol level, but few know their own credit score. This is your most vital stat, and directly controls how high an interest rate you'll pay on your car loan. Show up at a dealer without knowing your credit report, and you might as well give them your checkbook. A car dealer should never know more about your credit than you do. Besides, you might find an error in your report preventing you from getting a loan.

Where can I get new car dealer invoice prices, new car rebates, and incentives?

2006-12-31T01:02:00.001-08:00

The excellent FightingChance.com consumer advocate new car buying advice site gives you new car prices, rebates and dealer incentives, tons of great negotiating tactics, and industry intelligence on the latest sales figures for your car, softening of sales, information that levels the new car buying field. Every single one of you should be using this car buying info package. You also get sample letters for your fax attack new car buying strategy. We feel their data is more accurate than Edmunds and Kelley Blue Book, and you can't beat their new car buying market intelligence. The new car purchase best deals our visitors report back were attributed to this awesome package. If you're buying a new car you should be using this tool that pays for itself a hundred times over. I used one before car shopping for both my cars, and am using one now for my Lexus GX470 new car purchase.

When you buy a car, there's no need to leave your mouse

2006-12-31T01:01:00.001-08:00

In June, 2004, I Saved $5500 Buying my new 2004 Lexus GX470 SUV and did all my work without leaving the mouse. The best time to buy a car is during a rebate and if you can convince the dealer to give up holdback, any factory to dealer incentives, drop the dealer prep and ad fees. This can happen any time, so watch for rebates and secret incentives. The old way of buying cars wasted hours at several dealers, now you never leave the comfort of your chair. With online new car buying sites, just relax and get new car purchase quotes. If you can do better, then pick one dealer to bring in all your research to, and calmly negotiate the best new car purchase you've ever done.

When is the best time to buy a car? What are secret incentives?

2006-12-31T01:00:00.000-08:00

There are two "best times" to buy a car. The end of December is a good time for car buyers to buy a new car. Our $avometer Database shows how well our visitors did buying a car at Christmas. Everyone is out buying XMAS gifts, leaving new car dealer lots void of customers, motivating dealers to cut prices, and break year end sales records. Another good time to buy a car is July to October as new car dealers sell off cars at low prices to clear space for new car models. Secret factory to dealer incentives can be $1000-$6000 in addition to new car consumer rebates! In November, 2003 BMW had a $5000 secret factory to dealer incentive on the 7 series! If they sell you the car at invoice, they earned $5000 more. You should haggle over this incentive, many dealers willingly give up all or part of this incentive, making your cost lower.

Are You a monthly payment buyer or a trade-in buyer?

2006-12-31T00:52:00.000-08:00

Question: Are You a monthly payment buyer or a trade-in buyer?
If you are either of these, you'll lose thousands when you buy a car, I guarantee it.

If you get taken when you buy a car, it's your fault for being ill prepared. You spend a week online for a ski trip, but do no research before you buy a $20,000 car. Using car buying web sites we suggest in this guide, you'll save thousands.

How To Buy New Cars

2006-12-31T00:34:00.000-08:00

What you can expect from this new car buying guide

We reveal every known new car dealer scam when you buy a car, and all the cash flow shell games
The best time of year for buying new cars, and getting the lowest new car purchase prices
How to buy a car online from sites like Cars.com, InvoiceDealers, Yahoo!Autos, CarsDirect, Edmunds.com, Autoweb, Autos.com and Car.com
Tips when you buy a car through a car dealer/factory new car purchase
New car financing tips and online car financing, reviews of Capital One Auto Finance and HSBC Auto Finance
How much to offer your new car dealer when you buy a car, how to find car dealer invoice price
Guide to dealer fees you'll encounter in your new car purchase
How to tell who has the best new car price quotes and save you the most money on your new car purchase
Using new car price quotes to haggle a lower price when you buy a new car and many other new car buying tips

We'll teach you to be relaxed, positive and patient, not paranoid and confrontational when you buy a car. Our visitors tell me they were informed, relaxed and confident, and got good new car purchase deals after reading this car buying guide. We'll help you feel positive about car buying, making it easier for the salesman to sell the car, if they are willing to make a fair deal. A successful deal is win-win for both sides. Don't read only half of this new car buying guide and think you have all the facts. Read all the chapters, 1-7. The people who read all the chapters before they buy a car save the most money on their new car purchase. Miss one valuable chapter on buying new cars, it will cost you THOUSANDS.

New Car Buying Guide !!

Why you should consider online car loans: Getting the lowest APR

How to lower your current car loan payments: car refinancing tips

Safe driving strategies to live by

Don't let a cell phone land you in a cell

Whenever you turn of change lanes, always signal several seconds before doing so, no exceptions

Physics Lesson:

Teen Driver Safety

Vehicle Maintenance costs

You should get Underinsured or Uninsured Motorist Coverage

Insurance rates for teens especially are very costly, often in the $5000 range

How to lower your current car loan payments

What lenders look for to approve you for a car loan

You should get Underinsured or Uninsured Motorist Coverage

Vehicle Maintenance costs

Insurance rates for teens especially are very costly, often in the $5000 range

What do you do if you have no credit history at all? How do you establish credit?

Rules of the auto financing the game you must play by

Lack of credit history

Barriers to getting your fist car

There is no 3 day buyer's remorse grace period for you to return the car after buying it

If you cannot squeeze that car loan into 48 months, do not buy that car, you are heading down a path of destruction.

First Time Car Buying

Don't be held hostage! Don't give them your Drivers License or Social Security number!

You won't be able to buy a car from ANY dealer's ad for the price they quote.TM

How A Car Dealer Profits From Your New Car Purchase:

4 Ways A Car Dealer Profits From Your New Car Purchase

What are online new car buying sites and how do I buy a car online?

Warning About New Car Dealer Advertising:

New car buying tips for military personnel

Your Proactive Steps To Saving Money When Buying A New Car

Should You Buy A Car For Cash Or Finance It?

Rude things that you the new car buyer should NEVER do

Don't wait until your clunker is ready to die before going to buy a car.

DO NOT let Dealer "A" locate your new car from Dealer "B"... Don't do it!

Buying a car from the factory through new car dealers...

Don't trade in a car you owe money on to buy a new car

How to get a car loan for people with bad credit

"We found you a lower APR on your car loan, come down and resign the papers..."

New car buyers biggest mistake. You don't know your credit score?

Where can I get new car dealer invoice prices, new car rebates, and incentives?

When you buy a car, there's no need to leave your mouse

When is the best time to buy a car? What are secret incentives?

Are You a monthly payment buyer or a trade-in buyer?

Question: Are You a monthly payment buyer or a trade-in buyer?If you are either of these, you'll lose thousands when you buy a car, I guarantee it.

How To Buy New Cars

What you can expect from this new car buying guide

Question: Are You a monthly payment buyer or a trade-in buyer?
If you are either of these, you'll lose thousands when you buy a car, I guarantee it.