Tag: Networking

Car leasing
Leasing
Vehicle Lease for longer term?. Lower payment?? Look closely!

We are all in search of the LOW payment when negotiating our lease. Something I hear day after day is… “I need the lowest payment possible!”  What we forget is that we should be shopping by purchase price and not by payment.
What does that mean? When you purchase or lease a car, you want to make sure you get a good deal. This is based on the price you pay for the car. The monthly payment will fall into place. Once you negotiate the purchase price of the car minus your rebates, money down or trade,  then all you have left in the term and the interest rate/ money factor. THE PURCHASE PRICE DOES NOT CHANGE WHETHER YOU LEASE OR PURCHASE your vehicle.  You could be leaving money on the table.
36-39 months is pretty standard in the leasing world for a vehicle lease agreement. Its really the most common. Its not forever and you are mostly covered by warranty depending on your miles that you are driving. Most manufactures push these terms and will offer the lowest payment, best money factor and a good residual. To go longer would be silly because the payment sometimes actually goes up. It does NOT make sense. A big down payment is not a solution!
Some  Other manufacturers do offer longer terms like 42, 48 and 60 month leases. STOP and THINK before you jump on this because the payment is lower. If you have to stretch a lease out that long to afford it, you may be on the WRONG car! This car may be too expensive for your budget.  The other aspect of choosing a longer term can be the difference in cost of tires, brakes and other maintenance. Before you sign on the dotted line, look at the whole picture and revisit the cost of a purchase. The cost of more payments, interest, maintenance and repairs adds up. Sometimes we don’t realize how that extra 6 months or year did not really save us anything if we have to spent 500.00 to 800.00 on a set of tires!!!! Maybe it opens you up to look at some different cars.

I call those problems “high class problems”. The problem of which car to choose!!!!! We should all be so lucky.

We all want a good deal. One that is fair to all parties involved. That includes the consumer and the dealer. At the end of the day, you need to make sure that you do what is in your best interest. Follow your gut, stick to your budget and take your time. We talk ourselves into things because we get so excited, but it is a contractual agreement so you need to take it seriously.

Car Dealerships
Car BuyingLeasing
Are all auto dealers the SAME?????

Are all auto dealers the same? Of coarse not!!!!! Depending on the customer service, honesty and ability to treat people will separate how the dealership is rated. Unfortunately you can always get a few selfish, dishonest salespeople or mangers that will ruin it for everybody. They are motivated more by the mighty dollar than the consumers best interest.
“There are good dealerships out there.” I hear this from readers and from consumers. This is true. I do not want to sound like I think that every dealership is trying to take advantage of the consumer. There are some good people out there that do care about their customers.

I have however been in this business for over 19 years. I am driven to educate consumers about how to make sure they protect themselves with information. There is nothing wrong with running a business and making money, but why should one consumer buy a car for invoice , and the next customer comes in and is not as educated pay MSRP?
What does the dealer say? “They should have negotiated a better price!” “The customer should have made a better choice.” Isn’t it the job as a salesperson to educate the consumer so that they make a better decision? I feel like we as sales people need to help more and educate more! I think the “sell” would be a lot easier.

There are a couple ways to check out dealers and their reputations.

* Look at their ratings with the Better Business Bureau in your area. See if they have any complaints.
* Google the dealership. See what consumers are writing. Not paid testimonials!
* Ask your friends who they deal with OR if any of them have had negative / positive experiences.
* Check with the Attorney General in your state. That is a good source to see if the dealership has had consumer issues or complaints.
* Use Social Media to benefit you and reach out to your contacts and friends and ask for referrals.

consumer car buying
Car Buying
Do I have 3 days after I buy my car to give it back?

NOT in Ohio.  This law known as the “cooling off period” law varies depending on the state you live in. This is the law that most consumers think gives them 3 days to “undo” a deal on a vehicle purchase. Wrong!! When you sign on the dotted line, you own it. Maybe if the dealer is a friend or family and did not submit the paperwork to the bank yet to be funded, you may be able to cancel. But that is the dealers discretion.
Recently I had a woman that I had  met networking call me. She mentioned that her daughter bought a car and she thinks it may not have been a good deal.  This happens everyday! Buyers remorse. What comes from people making decisions without doing some homework.  What I had found out was that this young woman who scored over 700, accepted a rate of  over 6%. She probably could have qualified for the 0% on a new car. She was sold/ she purchased a bunch of aftermarket products that she probably did not need and bought a current year rental car with 33,000 (estimate) on it.. ARE YOU KIDDING? For a similar price the same car could have been purchased  new.. When I had a conversation with her to try and help her out, I realized that the Attorney General in Ohio does not have a “cooling off period” law. According to the Attorney Generals website http://www.ohioattorneygeneral.gov  certain consumer laws require sellers to provide cancellation rights. That does not apply to vehicle sales. YOU NEED TO EDUCATE YOURSELF  and make sure you are positive. Follow your gut!
I think  this law never came to my attention because I try to  make sure that my customers are comfortable and feel like they are making the right choices. I will not do a deal if there is uncertainty!
This young women was able to cancel some of the aftermarket products that she bought but did not need, but was stuck with the loan and the purchase of the vehicle. The guy in the F & I (finance and insurance) office was not happy… He loses money. I asked the dealer why they did not offer her the new car option. He said in not so many words that there was more money in the used car with 33000 miles. She is going to refinance through her credit union.  This is information! It does not say that every single dealer and salesperson is like that….but you cannot expect the dealer to educate the consumer. The consumer needs to ask questions and compare. Once you sign… YOU ARE AN OWNER! YOU JUST BOUGHT OR LEASED A CAR. I do need to say that with all the resources we have available, consumers can avoid becoming victims. Once you have the information and you still make that decision you are a volunteer.

Here are some things that may help.

1) If your buying late model used, compare the “new car deals” going on. Ask to see a new car invoice on a comparable vehicle. Also ask for special financing rates through the manufacturer. This will help you evaluate how to get the most for your money. Always get a pre inspection on ANY used car!

2) When going in to the finance office, do not let your fear make your decisions. If you have had the used car inspected and your mechanic says its a good car, follow your gut. Weigh out the cost of aftermarket products vs what the repair reviews are online. Example:  if a warranty costs 1300.00, please think about how much car 1300.00 can fix? You also pay interest and tax on that money. Gap insurance is always less expensive through your insurance company. You can ask the person how long you have to make the decision. It is usually 14 days to purchase the products. DO YOUR HOMEWORK! Let the emotion cool down.

3) If your not sure if it is the right deals for you, WALK! You do not have to make the decision right that minute. Take 24 hours and make sure it feels right. Remember, there is no “cooling off period”. You sign it, you bought it!

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

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

  • Phone:
    216-514-3433

  • Mail:
    katie@katiethecarlady.com