How to Buy a Vehicle from a Car Dealer | Chase

I'm here to talk about 13 car buying mistakes you need to avoid, have you ever regretted a car buying decision? If you did, it's likely because you pulled the trigger on a less than fair deal for one or more of the following 13 reasons.

Number one, you went to the dealership to see what kind of financing you can get approved for my video on YouTube, auto financing stresses the need to inquire at your own bank or credit union before you go car shopping, even if the dealer offers you a great interest rate, you have no idea if it's competitive, given your personal credit profile a 3.9% might sound pretty good, but what if you qualified for 2.9 percent at your own bank armed with that information before going in the door might have landed you at 2.7 percent at the dealership, see the benefit of knowing before going.

Number 2, you failed to take the time to do a good test drive, or you skipped it altogether, have you ever walked onto a car lot and said I've always owned a minivan? I know how they ride, I don't need to drive it, the obvious importance of this should make it completely unnecessary to say, but I've seen it skipped too many times test drive your car and do a proper test drive every single time.

Number 3, you didn't give consideration to the safety of the vehicle, and you believe the gas mileage estimate given by the salesperson, do you have any idea what the difference is between a five-star crash rating and a 3-star crash rating? Let me just say this, you triple your risk of injury between those two ratings, you might want to know what the safety rating is on the car that you're looking at, and you can find real information at and at, take the time to do this, your family will thank you as far as fuel economy goes to check out every vehicle you're considering, at fuel economy gov the most commonly told on the car lot has to do with exaggerated gas mileage quotes from the salesperson.

number 4, you thought that window sticker was the starting point for price negotiations on new cars, you couldn't be more wrong, have you walked into a dealer's lot and seen the window stickers on some of the new cars? It's nothing to see $50,000 on a new vehicle these days, but realize that that's nowhere close to, what you'll be asked to pay the sticker on a new car is the MSRP, the manufacturer's suggested retail price, a dealer discount comes out of that, and the manufacturers rebates, due to sometimes the combined discount can be as much as $10,000.

Number 5, you are taken in by all the incentives to buy, you're going to hear all the stories the rebates are ending today, you qualify for 0% financing for 72 months in the promotion, expires the dealership might even throw in free oil changes, free car washes, or free accessories, if you buy today, the truth is that there are only a few occasions where rebates actually go down, most of the time they stay the same or even increase.

Number 6, you failed to research the trade value of your current car, there are usually two types of customers out there, the first has no idea what his car is worth, and the second has their car grossly overvalued, don't be one of those two, people call around and get a number of estimates on your vehicle, and then when you go to actually trade it in stick to your guns, and make sure you get what's fair.

Number 7, you got emotionally involved in the car, did you know that one of the many things that car salespeople are trained to do is to get you emotionally involved in the car? That's the job of the salesperson when you take the logic out of the equation, you can be talked into anything as this ever happened to you.

Number 8, a monthly payment goal was the deciding factor in your purchase, don't make this mistake, every salesperson loves the guy who walks in and says I'm looking for a car with a $300 per month payment, that's an easy goal to hit, and there's a variety of ways to do it all, while gouging you on sale price, financing and all the other products they want to add on to your car.

Number 9, you bought all the extras, did you know that you are going to run into salesperson? After you bought the car, they call this person a delivery coordinator, but you're actually talking to a slick salesperson, who's going to sell you every gimmick that possibly can be added to your car rustproofing, out of start mud flaps, paint sealer, carpet protector, the list goes on, the bottom line is this, the car will only be worth what book value or fair market value is at a later date, and all that money you sank into accessories will go down the drain or possibly even devalue your car.

Number 10, you skipped having a mechanic look at the car, because the dealer inspected it, let me tell you something I work with cars every day yet, there's a lot I don't know about a car, are you really the mechanical genius who knows the difference between a good car and a bad car? Car inspections usually cost about 25 dollars at a typical garage, and it's well worth your money, I shouldn't have to say, this won't ever have this be the reason why you regretted a car purchase.

Number 11, you let your guard down after you negotiated the deal, so you met salesperson number one he was the guy who showed you the car, then you met salesperson, number two that was the delivery coordinator you met in the accessories department, now you're going to meet salesperson, number three who is actually the toughest and sharpest salesperson, they have this person is also known as the F&I manager, did you know that dealers can make as much or more money in the finance office as they do on the purchase of a car? You aren't just waltzing into an office to sign papers with a desk clerk, and then be on your merry way, you'll be sitting across the desk from one of the most highly skilled moneymakers, the dealer employs you definitely want to be ready for what's to come, don't let your guard down in the business office, and keep a tight hand on your pocketbook the whole time.

Number 12, you didn't know what gap insurance or theft protection was, these are often two of the big moneymakers at a typical dealership, the dealership will offer you gap insurance at a cost of six to eight hundred bucks, what's the gap you ask? It's the insurance that you may need if your vehicle is ever totaled, it pays the difference between what your auto insurance covers and what your outstanding loan balance is that's the gap, what they don't tell you is that you can buy gap insurance from your car insurance agent for twenty-five to thirty-five dollars a year, then there's theft protection, an item that keeps appearing on one car contract after another, and it's quickly becoming known in several states as the scam of the decade, if you do your own research, you won't find one independent site praising, it just say no to theft protection.

Number 13, it seemed like such a great deal you chose not to sleep on it, some of the best car deals, I've been involved in were deals that never happened, let me explain, when Roger and Victoria called me about getting a new car, I asked what kind of vehicle they currently owned, they were driving an O six Toyota Tundra with 50,000 miles on it, and although it was paid off, they didn't like the fuel economy, I explained that I understood what they wanted, but I still wasn't convinced that they needed a new car, so I encouraged them to drive a few vehicles and then go home over the weekend to think about what they really wanted to do, on Sunday night I got an email from Victoria saying "sorry, we wasted so much of your time, the truth is that our budget won't allow any car payment at this time, so we're just going to have to wait." I can promise you that they didn't regret going home to think about their options, and neither will you besides by the next day, your emotions will have calmed down, you can now think logically about what's the right thing to do for you, and trust me, the deal and the car will still be waiting for you.

No matter what they say, those are the 13 mistakes you need to avoid when buying a car.

How to Buy a Vehicle from a Car Dealer | Chase

How to Buy a Vehicle from a Car Dealer | Chase

Here is to talk about 13 car buying mistakes you need to avoid, have you ever regretted a car buying decision? If you did, it´s likely because you pulled the trigger on a less than fair deal for one or more of the following 13 reasons.

Chase Auto Finance Deleted Repossession

Chase Auto Finance Deleted Repossession, do-it-yourself, its credit repair, done right personalized, not computerized, you don´t have to spend thousands of dollars to allow somebody to take on months or even spin monthly fees, you´d pay one time.