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10 TOP CAR BUYING TIPS
for STUDENT DRIVERS
and
PARENTS!
By
Sarah Lee Marks
Personal Car Dealer
www.mycarlady.com
3
Start with a PLAN…
1. Homework – Rules and Objectives.
2. Picking the Right Car – New vs. Used. Insurance.
3. Budget che...
4
Do your homework FIRST !
 Go online, library, and at the dealership.
www.NHTSA.gov, www.edmunds.com,
www.autobytel.com,...
5
MAKE A COMITTMENT:
 TEEN – PARENT CONTRACT.
 GPA
 Curfew
 SAVING for down payment.
 LAWS and liabilities.
 DRIVECA...
6
BEFORE U TEST DRIVE:
 CALL the INSURANCE AGENT.
 Get prices on your 3 top picks.
 CALL competing insurance companies....
7
BUDGET CHECKLIST
 MONTHLY PAYMENT: ___________
 Monthly GAS: __________
 Monthly Insurance: ___________
 Monthly Reg...
8
TALK ABOUT CREDIT
 Good, or Bad Credit… 90% can still get a car loan.
 First Time Buyers… no bad credit of any kind.
...
9
CREDIT APPLICATION
DO NOT GIVE YOUR
SOCIAL SECURITY
NUMBER OUT UNTIL YOU
ARE READY TO BUY!
10
The HIGH price
of cars…
New:
 What’s in the car: MSRP=Sticker
 Consider the standard features and model
package co$t ...
11
VS.
PREOWNED
 THINGS TO LOOK FOR WHEN
SHOPPING FOR A USED CAR:
 CRAIGS LIST: NO PAYPAL.
 CHECK IT OUT: Take the car ...
12
13
DEALERSHIP VISITS.
 LIMIT your Test Drives to 3 a day-your top
three choices… ?
 Make a test drive appointment, be su...
14
The Price is not the Price?
• DEALER FEES: Documentation,
• Vehicle Theft, Desert Protection, Prep.
• TAXES and Registr...
15
TRUE STORIES…
Reputations and Reviews
 www.RATETHEDEALER.com
 XXXXXXSUCKS.com
 GOOGLE: XYZ Dealership PROBLEMS…
 DE...
16
BUYER BEWARE!
 My salesman told me…
 I ran a CarFAX report…
 I thought it had a…
 The NV Lemon Law will protect me!...
17
AFTER THE SALE…
BUT we had a contract!
WE OWE or DUE BILL?
Get all promises in writing.
RE-SIGNING for a different paym...
18
MY PROMISE TO YOU.
Before you buy your next car email me.
Advice is FREE with MyCarlady.
Sarahlee@mycarlady.com
I’ll he...
19
Sarah Lee Marks
 25+ yr. veteran of the Automobile industry.
 Author, Television and Radio talk show host; CAR
CHAT.
...
20
Thank you!
Sarah Lee Marks
Aka: MyCarlady
25+ years in the car business,
I love helping people get a great deal!
Follow...
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10 Top Tips for First Time Car Buyers - MYCARLADY 2015

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MyCarlady's Sarah Lee shares her powerful PowerPoint on the Top 10 Tips for new to the market of car buying. Lots of serious material here! Even experienced car buyers will learn something. She has been giving this presentation for over 10 years, and added new information as the trends have changed.

Published in: Automotive
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10 Top Tips for First Time Car Buyers - MYCARLADY 2015

  1. 1. 1
  2. 2. 2 10 TOP CAR BUYING TIPS for STUDENT DRIVERS and PARENTS! By Sarah Lee Marks Personal Car Dealer www.mycarlady.com
  3. 3. 3 Start with a PLAN… 1. Homework – Rules and Objectives. 2. Picking the Right Car – New vs. Used. Insurance. 3. Budget checklist. 4. Cash – Auto loan –Lease? 5. Kicking tires. 6. Total cost and Hidden expenses. 7. Contracts. 8. Registration. 9. Service. 10. Warranties.
  4. 4. 4 Do your homework FIRST !  Go online, library, and at the dealership. www.NHTSA.gov, www.edmunds.com, www.autobytel.com, www.kbb.com, www.fueleconomy.gov, www.dealershipwebsite.com  Consumer Reports, Car & Driver magazines.  Collect product brochures.
  5. 5. 5 MAKE A COMITTMENT:  TEEN – PARENT CONTRACT.  GPA  Curfew  SAVING for down payment.  LAWS and liabilities.  DRIVECAM.com  GPS-Buddy Electric Fence
  6. 6. 6 BEFORE U TEST DRIVE:  CALL the INSURANCE AGENT.  Get prices on your 3 top picks.  CALL competing insurance companies.  Ask about GPA and student driver “forgiveness” programs.  Make sure the insurance company has not increased the bill for a student driver while he/she is on a learning permit.  ADD GAP to the insurance coverage of any FINANCED vehicle the student is driving.  Nevada law states you must have full coverage insurance when you have a loan or lease on a vehicle.
  7. 7. 7 BUDGET CHECKLIST  MONTHLY PAYMENT: ___________  Monthly GAS: __________  Monthly Insurance: ___________  Monthly Registration: _____________  Service maintenance: _____________  Total: _____________  DOWN PAYMENT: ___________ (rebate) TRADE-IN Value: ___________ Student Monthly income: 10.00/HR x 15 hrs. per wk = $150.00/100.00 after taxes. X 4 wks. = $400.00 CAN YOU AFFORD A CAR?
  8. 8. 8 TALK ABOUT CREDIT  Good, or Bad Credit… 90% can still get a car loan.  First Time Buyers… no bad credit of any kind.  Recent College Graduate… holding a degree from a college/university or 2 yr. professional school can get a new car loan in their OWN NAME, without a co- signer..  Down Payment matters!
  9. 9. 9 CREDIT APPLICATION DO NOT GIVE YOUR SOCIAL SECURITY NUMBER OUT UNTIL YOU ARE READY TO BUY!
  10. 10. 10 The HIGH price of cars… New:  What’s in the car: MSRP=Sticker  Consider the standard features and model package co$t between brands.  Add up the dealer add-ons: Window tint, pinstripes, Video player, Chrome rims.  Factory warranty= calculate the value.  New vs. Used; What makes sense for you?
  11. 11. 11 VS. PREOWNED  THINGS TO LOOK FOR WHEN SHOPPING FOR A USED CAR:  CRAIGS LIST: NO PAYPAL.  CHECK IT OUT: Take the car to an independent mechanic.  MIS-MATCHED PAINT  WORN PEDALS  Door, Hood, Trunk Alignment  Magnet Test  Over-Spray  Smells  SALVAGE, REBUILT, TOTALLED on the Title.  Clunks, Squeals, Screeching or Whistling when you drive.
  12. 12. 12
  13. 13. 13 DEALERSHIP VISITS.  LIMIT your Test Drives to 3 a day-your top three choices… ?  Make a test drive appointment, be sure the car is still there.  Listen to the car.  Compare handling, line of sight, comfort.  Look the car over carefully before you leave.  SUVPS: SAFETY, UTILITY, VALUE, PERFORMANCE and STYLE. ?
  14. 14. 14 The Price is not the Price? • DEALER FEES: Documentation, • Vehicle Theft, Desert Protection, Prep. • TAXES and Registration. • EXTENDED SERVICE CONTRACTS. • GAP protection. • EXTRA BLING: Sirius/XM, LoJack, Rims, DVD’s.
  15. 15. 15 TRUE STORIES… Reputations and Reviews  www.RATETHEDEALER.com  XXXXXXSUCKS.com  GOOGLE: XYZ Dealership PROBLEMS…  DEALERATER.com:  Cars.com  YELP  WHEN READING REVIEWS… Read between the lines. Did the reviewer only rate 1 dealership, and badly. How did the dealership respond? Some review websites insist on payment from dealers to provide the latest reviews. Ask your friends, not strangers. Consider the source. make your own judgment.
  16. 16. 16 BUYER BEWARE!  My salesman told me…  I ran a CarFAX report…  I thought it had a…  The NV Lemon Law will protect me!  ESL… Don’t understand something?  3 Day Right of Rescission ?  Elderly protection. Don’t mess w/Grandpa.
  17. 17. 17 AFTER THE SALE… BUT we had a contract! WE OWE or DUE BILL? Get all promises in writing. RE-SIGNING for a different payment, more money down or a different car. Problems in the first 30-90 days? Bring it back to the dealer…
  18. 18. 18 MY PROMISE TO YOU. Before you buy your next car email me. Advice is FREE with MyCarlady. Sarahlee@mycarlady.com I’ll help you get the straight answers, no hassles and the best deal.
  19. 19. 19 Sarah Lee Marks  25+ yr. veteran of the Automobile industry.  Author, Television and Radio talk show host; CAR CHAT.  Certified & Licensed Automotive Sales Executive.  1st woman honored for Sales Excellence by Lexus 1991.  Founder of SMARTeen DRIVER Car Care Clinics
  20. 20. 20 Thank you! Sarah Lee Marks Aka: MyCarlady 25+ years in the car business, I love helping people get a great deal! Follow me on FB at Mycarlady-sarahlee Twitter: Mycarlady Instagram: Mycarladysarahlee 

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