keys to car buying

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Keys to Car Buying Presented by Tom Stapleton

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Keys to Car Buying. Presented by Tom Stapleton. Overview. Determine How Much You Can Spend Research Know What The Dealer Paid for the Car Contact The Dealer for Pricing Online Negotiate Financing and Rebates What About The Extras?. Create a Budget. - PowerPoint PPT Presentation

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Keys to Car Buying

Presented by Tom Stapleton

Overview

• Determine How Much You Can Spend• Research• Know What The Dealer Paid for the Car• Contact The Dealer for Pricing Online• Negotiate• Financing and Rebates• What About The Extras?

Create a Budget

According to most financial planners, a monthly auto payment should be no more than 20% of your gross monthly income.Key factors to use when setting a budget.a. Know your credit scoreannualcreditreport.com , call 1-877-322-8228,

b. Use online payment calculators to help figure out what vehicles fit your budget and what your monthly payment might be.

Research

Research Tools1. Consumer Reports2. Edmunds.com3. Kelly Blue Book4. NADAGuides.com5. Black Book

NASA Employee and ContractorResearch Portal

www.nasafcu.com/autoresearch

Research

Research

Know what the Dealer Paid for the Car

Factory Invoice is what the dealer paid for the vehicle.

You can see the dealer invoice on all trim packages.

Car Comparison

Things to Consider

Complete a wants and needs assessment: • Car Comparison • Warranty• Gas Mileage• Cost of Ownership / Service• Distance of from dealer.• Rebates• Recalls• Carfax Report

Contact the Dealer for Pricing Online

Dealers know that online shoppers will be comparing a number of vehicles at a number of different dealerships. Therefore, they price their cars very competitively on the web. An online price quote is a great place to start with your negotiations.

Trip to the Dealership

• Know what vehicles you will test drive• Take the test drive• Take notes and ask questions• Evaluate the dealership

Negotiations

• Internet (Dealer Quote from nasafcu.cudlautosmart.com)• Let them make the first offer• Only negotiate the purchase price not the payment• Negotiate your trade-in (know the wholesale value)• Don’t be afraid to walk!• Wait for the T.O.

Financing/Rebates

• 0% APR or rebate• CUDL / Credit Union Financing • Finance Reserve• Warranty, GAP, Life and Disability Insurance• Other products

What About the Extras?

Things to consider before adding any extras:a. Adding extras will increase your overall finance amount and

affect your month payment. b. Be aware that you might not increase the value of the vehicle

by adding options. c. The lender might not be willing to finance the extra options.

Questions?

Thank YouTom Stapleton

Area Account [email protected]

Center Blog’s: NASA GISS: www.nasafcu.com/nasagissNASA Headquarters: www.nasafcu.com/nasahq

NASA LaRC: www.nasafcu.com/larcNASA KSC: www.nasafcu.com/ksc

NASA MSFC: www.nasafcu.com/MSFCNASA JSC: www.nasafcu.com/JSC

NASA AFRC: www.nasafcu.com/AFRCPartner Companies: www.nasafcu.com/lori