Category: Uncategorized

credit score
Interest Rate Insanity

It is astounding to me that just because a consumer may not have a rockstar FICO score (700 or higher), it opens them up to be totally taken advantage of with a car loan.
The other day I had a referral call me looking for some help purchasing a new car. She had already made contact with a dealer and they had a car she wanted, but something was making her uncomfortable. As we communicated, I asked her to find out certain information about her purchase. We were texting an talking. I told her to ask questions like:
What is the MSRP?
What is my purchase price?
What is the invoice price?
What is the interest rate?
How many months is my loan?
These are all important things to know. She knew that she was not a 700 and probably closer to 650. She mentioned that she had a relative to co-sign.
**This can be great but you need to make sure that your co signer qualifies.

The consumer had put down a 200.00 deposit before she knew her interest rate or co signers information because she wanted the car.. I told her to sleep on it and follow her gut.
The next day she called me from the dealer and I could not believe what I was hearing.
Her credit score was a little lower than she thought. This gave them the open door to bump the interest rate. They told her she would be at a 12.00% interest rate vs. 4.00% she originally thought.
Her cosigner shows up and has NO credit.
**I cannot stress enough how important it is to know this information before you go into buy a car.
All of the sudden the price was very different. I told her to get up and walk out. I would help her find what she wanted. I sat on the phone with her and walked her through it.

Within 2 minutes her interest rate went down to 7.99%!!! Now they all of the sudden they wanted to come down on price by 500.00 and lower the interest rate. That did not happen until she was ready to leave and not purchase the car! They had the car she wanted and they knew that she was fearful with the credit situation.

If she would not have listened, they would have closed the deal on those numbers. This is Insanity.
1)educate yourself
2)know the interest rates
3)take time to get that credit score up

car dealers in ohio
Networking, Non profits and Katie the Carlady

I think in all of of us is the feeling of “wanting to help”. Whether it is sending a donation to a local charity, supporting a friend in a walk, silent auction, raffle ticket sales or sponsorship. Most people want to participate in what is good! That to me is the beauty of getting involved in non profits and fundraising while meeting new people and networking. I am involved in two non profits, Taste of Hudson in the city I live in. Also Recovery resources of Cleveland. I am passionate about both, but for different reasons.
Taste of Hudson is a non profit I got involved with 2.5 years ago with the intention of just trying to network and start the Luxury Auto Show. What I realized once I stepped in and got involved was all the GOOD that this organization does. All the money that stays in the community to help Summit County and so many local children and groups. I have met so many great people who do to tons of work to make this event happen. That right there is a great bonus. It also taps into the networking aspect. When you go into these events with an unselfish agenda, the rewards will come. They may not be in the time that you want them, but they will come.

Taste of Hudson is held on Labor day week end. This year it is September 2-3 2012. It is their 8th year. When the 35000 people come strolling through Hudson to eat from the amazing restaurants, buy beautiful art, play with their children on the little tikes toys, visit the local vendors, listen to talented musicians and spend time with family and friends it makes a connection to enjoying life and helping others to enjoy life too.
I have learned that there are some things I am good at, and some things I need to leave to others in the group to do. I can use those qualities that I am good at to help the non profit, I am involved in. The business connections we make through the non profit can help us personally and the connections we already have can benefit your chosen nonprofit! Its a beautiful thing.
The volunteers that show up to make this event happen are outstanding. Again, from all over Hudson/Summit county get to network with others through giving of their time. Its the whole “givers gain” that BNI networking groups talk about. The more you give, the more you get! In business we need to remember that the paycheck we get can come different forms. Although we need it in $$$$ to help live and support our families, paychecks materialize in our lives through people and fulfillment. This is a direct result of helping others without an agenda.

Get involved in a non profit in your local area. You will be amazed how the rewards with materialize in your life! Also Check out the site to help Taste of Hudson.

about us

Shopping for a car can be one of the most frustrating, time-consuming and tasking experiences. I have over 23 years of experience in the field, creating easy and stress-free car buying experiences! (I promise!) I take the time to help my clients learn about what they are getting, empowering you to find your perfect vehicle. I am backed by an awesome team, and we all work incredibly hard to get every single customer the very best deal while minimizing the amount of time that they need to search.

Contact us

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    Diamond Auto Lease & Sales 4901 Galaxy Parkway Warrensville Heights, Ohio 44128

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