Buying a new car.

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kcarter609
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Postby kcarter609 » Sat Nov 17, 2012 3:56 pm

paparoach429 wrote:Why so high on the property damage? Are you surrounded by Ferraris and Bugattis?


Well, I live in NJ and there is a lot of money here, especially in the summer when the people from NYC come with their expensive cars, but the main reason is honestly because the difference between 25k and 100k was literally about $3/per 6 months.

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Vermonster
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Postby Vermonster » Sat Nov 17, 2012 4:22 pm

paparoach429 wrote:Why so high on the property damage? Are you surrounded by Ferraris and Bugattis?


If it's a multicar accident you'll hit $100k in no time in NJ. There actually are a ton of high end Porsches, BMWs, Mercedes, and even a few Bentleys where I live in NJ.
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paparoach429
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Postby paparoach429 » Sat Nov 17, 2012 10:56 pm

Well if its only like $3-$10 a month then I guess I might as well but my point was, when you see a $100,000 car here and there (every so over, you dont live in Beverly Hills) is it really worth it?

paparoach429
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Postby paparoach429 » Sat Nov 17, 2012 11:01 pm

Kcarter, So compared to what you have and what I originally posted is an $80 difference per month minus the medical insurance. So you see my concern as far as its something to definitally think about.

kcarter609
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Postby kcarter609 » Sat Nov 17, 2012 11:34 pm

paparoach429 wrote:Kcarter, So compared to what you have and what I originally posted is an $80 difference per month minus the medical insurance. So you see my concern as far as its something to definitally think about.


The medical is the big banger. I'd at least look into 100k/300k for coverages. Get quotes from multiple companies too of course.

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paparoach429
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Postby paparoach429 » Sun Nov 18, 2012 1:11 am

The "medical" tab im looking at through Progressive ranges from 1k to 10k.. Im not sure if im looking at the right thing? It says medical coverages...

kcarter609
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Postby kcarter609 » Sun Nov 18, 2012 1:04 pm

paparoach429 wrote:The "medical" tab im looking at through Progressive ranges from 1k to 10k.. Im not sure if im looking at the right thing? It says medical coverages...


Sorry, I'll rephrase. "Liability to others" is what you are looking for. Not medical. It's what actually covers the medical expenses, it's just called something liability to others.

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DoingHomework
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Postby DoingHomework » Tue Nov 20, 2012 2:03 pm

Before buying anything from Progressive I suggest you read about what they have done lately. When one of their customers was killed in a car accident where the other driver was at fault they helped defend the other driver to avoid paying their customer's estate. This is probably the most despicable thing an insurance company can do. Look it up!

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Postby hematino » Wed Nov 21, 2012 10:43 am

DoingHomework wrote:Before buying anything from Progressive I suggest you read about what they have done lately. When one of their customers was killed in a car accident where the other driver was at fault they helped defend the other driver to avoid paying their customer's estate. This is probably the most despicable thing an insurance company can do. Look it up!


I don't like Progressive just becase that "Flo" lady in the commercials is really obnoxious. That is pretty messed up though.
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DoingHomework
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Postby DoingHomework » Wed Nov 21, 2012 2:00 pm

kcarter609 wrote:One thing they like to do is hold on to your license for extended periods of time. Don't let them do that. Tell them to make their copy or whatever they need and bring it back immediately. If it isn't back in a couple minutes, or the salesman comes back without it, just be like "


Your whole message contains great advice. I've bought a few cars in my day and trust me, salesmen HATE dealing with my wife and I because we are both smart professionals and do not allow ourselves to be jerked around.

For the license (or key) trick - make your own photocopy beforehand. Give that to them but never, ever surrender your license. Also, black out the SS number if it's on your license. Sometimes they will use that to look at your credit. It is illegal to do that without your permission (actually against federal law to even ask for your SSN at that point) so it they balk at a test drive over that issue you explain that you are going to report the dealer and the individual salesman for violating the law and walk away. They usually have a legitimate need to see you license but not to hold it. Photocopying a drivers license is also illegal in many states. The reason does not matter. Don't park where the dealer can block your car in either. I actually made that mistake once and had to dial the police on my cell phone before they were able to find the keys for the car that just happened to be blocking me in. Holding your keys, drivers licence, car, purse or anything else even briefly after you ask for it back is theft. Preventing your from leaving, even briefly, is kidnapping. While obviously it would be extremely unusual for a salesman to get arrested or convicted for that, it IS a crime and you can report it. Any sale resulting from such an act is also fraudulent and they should know that.

Never give up your keys either.

Don't make yourself too comfortable. Nothing should take more than 1 minute. If the salesman says he has to go get something, ask him how long he will be gone then look at your watch. Wander off and get impatient once the time has expired. At that point wander off in the direction he went and start opening doors. Don't worry about "Employees Only" or anything like that. The salesman is overdue. You are just looking for him to avoid a further waste of your time. I have wandered into a couple of private offices in my day. It works!

The bottom line is that you go to the dealer to buy a car. Much like what has already been said, don't let yourself be distracted by payments or any other crap. Get the total price of the car including everything. Ask if that is how much you write the check for. I have negotiated multimillion dollar commercial contracts and the same principle applies - keep is simple - bottom line price and what is included. Don't cloud the issue with financing.

Once you have a bottom line price you are happy with and you have decided to make a purchase THEN you can decide how you want to pay. I strongly suggest you save up and pay cash. If you can't do that then go to the dealer with a preapproval from a bank for a fixed amount and interest rate. That sets a hard budget that the salesman can't argue with. Simply refuse to discuss finance or credit with him until the price is agreed. Trust me, you would NEVER discuss financing or credit in a business negotiation. Simply state that you have the funds available (but don't tell how much).

Also, don't be in a hurry. A professional has no problem completing negotiations and then waiting a few days to transfer money around and perform final due diligence. If today is Saturday the salesman says the price is valid only today, tell him you will not be buying until Wednesday so you are only interested in Wednesday's price.

As I'm sure Mr. Carter will tell you, if you try to push the salesman around or bully them too much then they will not want to deal with you. They actually don't make that much on each car so dumping a difficult customer is not that big of a deal. But if you approach the purchase and negotiation in a business-like manner and refuse to tolerate BS then you will both disarm him from the tactics he has been taught and you will also be taken seriously. Remember too, he is not your friend. He is a counterparty in a business transaction.



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