Buying Cars Smartly

By David J. Roppolo

Discover smart car buying with "Buying Cars Smartly" by David Roppolo, a veteran car dealer turned ally. This concise guide demystifies new and used car purchases, empowering you with insider tips and strategies for a fair deal.

David, your financial friend, reveals the hidden aspects of car buying. Learn about the true costs o

• Language: English
• Publisher: David Roppolo
• Release date: Nov 1, 2019
• ISBN: 9781734173314

Book preview

Chapter 1

THE BIG DECISION!

DO I REALLY NEED ANOTHER CAR?

My friend––trust me––you’re far from alone. We all know how it feels to walk out of the house and lay eyes on the same old dreary-looking car, day in and day out. We’ve all stood in that driveway, defeated, uninspired, wondering if today is the day we should leap from bland old sedan to shiny new sports car, truck, or SUV. Everyone sees those TV ads. We all see how cool the people look behind the wheel of a brand new convertible or coupe. Sexy, right? Well, it certainly is on TV. Sometimes we completely forget: Those are just actors!

Actors don't pay the $650 note plus $200 per month insurance bill that real people pay to drive those cars. And all it usually takes is one Oscar-worthy performance from one good actor to get the average Joe or Jane off the couch and into the nearest dealership. Suddenly Joe or Jane is excitedly signing papers on their latest (five to seven years) ball-and-chain, known as the car note. However, for you––(the smarter consumer, intelligent enough to buy this book)––the question is: Are you truly ready, willing and able to take that financial leap? Are you currently capable of that next step, decided by spontaneity or budget?

Television ads make it all sound so easy, and in reality, it can be. But just because tromping out and buying a car is easy, doesn’t mean you are making the smartest choice for yourself. It will never mean that. Remember, during the car buying process, the decision(s) you make will affect you for years to come. And if you make a few bad ones, those unenlightened choices will affect you for several more years after that.

ANTI-TEMPTATION TIPS

- Be careful of actors in slick new car TV ads.

- Regulate your jealousy of friends’ new car social media posts.

- Remember that a new car means two new bills (minimum).

MAKING A SMARTER CAR DECISION

The first smart decision you must make is based on whether or not you truly need another car. Or, are you just looking to buy because everyone on social media seems to be buying one and posting fancy pictures of themselves with it? Be honest. I’m not here to judge. I’m just here to ask questions so that we can get to the root of the matter. I also see those social media posts. Sometimes they make me feel a certain way too. When people post pics with their brand new glossy cars (cheesing with brand new glossy grins), doesn’t it get under your skin a little? Doesn’t it make your life appear boring and drab? Because you’re still driving the same ole whip (or wreck) you’ve had for ages? It looks like everyone is getting ahead and you're falling behind, right? Again, I’ve been there. So have a lot of people. But do you really have to sit there like a fish looking at a shiny hook?

Shake it off, my friends. Sober up. Putting emotions aside, let’s try to keep things 100% real. Issues like major mechanical problems with your current car, or the fact that you no longer feel safe driving it, are very valid reasons to consider a new purchase. Right? Or, you might be having trouble making your payments due to a change in your employment, loss of employment, or other expenses you’ve recently acquired. These are situations that can have you in true need of a car with better terms, a lower note, and fewer repair issues. These are very valid reasons to stand in that driveway and consider an immediate change.

Let's workshop this decision process with a few common scenarios. Let’s see if any of these fit your current scenario.

POSSIBLE SCENARIO #1

Perhaps the car you own now isn't feeling as reliable as it once did. On top of paying the note, you are concerned that a large repair bill is in your immediate future. And this could leave you strapped financially.

Coaching:

Is that a risk you want to take? I’m going to guess… probably not. If you don't have enough cash squirreled-away to repair the coming catastrophe, when that next breakdown occurs––and always assume it will––things could go really badly. You will either have to take out a loan to repair it––which is never a very smart choice if you are already in a financial bind––or park it until you can afford to have the repairs done. But who likes paying a monthly note and insurance on a car they can't even use? And what if it’s the only vehicle you can rely on to get back and forth to work? This might have you thinking about making a change.

[The previous hypothetical scenario is a compound problem that is certainly avoidable with a small amount of planning. That planning includes a service contract or warranty when the vehicle was purchased. But we will cover those two smart choices later in the book, along with their not so well known pros and cons.]

VALID REASONS

TO BUY A NEW CAR

- Major mechanical problems with current car.

- Trouble making car payments because of change in employment.

- Trouble making car payments because of loss of employment.

- Trouble making car payments because of sudden new living expenses.

- Current car no longer feels reliable.

- Afraid substantial repair bills are coming your way.

POSSIBLE SCENARIO #2

Perhaps you own your car outright and don't pay a monthly note at all. You are the envy of many, my friend. However, you are growing increasingly concerned about breakdowns and the regular maintenance costs incurred when owning an aging vehicle. Though you no longer have a note, the increasing costs of tune-ups, brakes, tires, belts, hoses, oil (and other fluid changes) are starting to pile up. This might have you thinking about making a change.

Coaching:

Regardless of how new a car is when you buy it, or how well you take care of it, all of these things are guaranteed to need replacing. So just be smart. You could be strategic by actually planning for these expenses instead of considering a new purchase. A great way to do that is to set up a separate savings account at your bank. Move a few bucks per month into this car repair and maintenance account every so often. Let it build up until you reach an amount you feel will help ease the blow of a major repair that may come up. If you aren’t paying a note, this should be easy to do. You’d literally be self-insuring against any mechanical breakdowns or defects. But (unlike other insurance) if you don’t have any breakdowns, you haven’t really lost any money, you just put it aside.

POSSIBLE SCENARIO #3

Perhaps your car is just plain ugly, and you’re embarrassed to drive it around nowadays. It started off as a beauty, but after all of these years, it now has scratches, dings, dents, rips, cuts and blemishes. Let’s not mention the exterior looks like it was painted three different shades of maroon because of all of the sun damage summer after summer. This might have you thinking about making a change.

Coaching:

Depending upon what you drive, you might actually own a solidly manufactured vehicle that has simply lost its sexy. The engine could be still running strong, but when it comes to the outside of the car, more than the odometer is showing its age and mileage. When this is the case, sometimes the best decision is to forego that new car purchase and sink a little money into some reconditioning for your current car. Just because she looks a wreck doesn’t mean she is a wreck.

If you have the opportunity to pull a few more years of life out of that former beauty-pageant winner, I say save yourself some big bucks. Skip the brand new car payment for a while. You'd be surprised how inexpensive it is to do some TLC upgrading on most cars.

Get on Google or YouTube; search for all of the little do-it-yourself tips, tricks and upgrade-projects for your make and model of car. If you’re not the type to roll-up your sleeves for a little enhancement project, find a business or friend