Automotive Addict

Upside Down is Dealership slang for Negative Equity. Who has it? Just about everyone, even dealership employees, so dont feel bad.

It is just a fact of life, cars depreciate. When you drive a car over the curb it loses value. If you buy from an individual, it still loses value. The only way to keep from being upside down is to:
1. Put Money Down
2. Pick a shorter term to finance; 48 months instead of 60
3. Do not Trade Too often
4. Make Sure You Get a Good Deal, Get Your FREE Quote!


These are just a few ways to avoid negative equity. Another one is to lease your vehicle. Some say, buy what appreciates and lease what depreciates. You lease for 3 to 4 years and get the best life out of the vehicle, turn it in, and lease another. Why worry about ever owning it. If you do own the car, it is worthless by the time you are through paying for it.

If you are upside down now and are looking for a lender to finance your new car along with your negative equity, check out Roadloans as they will usually finance 125% of NADA Retail. This is more than most lenders will lend. This will make it easier to finance a car without putting a bunch of money down.

General Motors is trying to take the GM or Certified Used Vehicle Sales to the next level. They will be offering a 100000 mile warranty on USED VEHICLES! WOW!

First, it has to be a Certified Vehicle from a Certified Used Dealer. A Certified Used GM Vehicle is a car, truck, or SUV from the year model 2002-2006 with less than 60000 miles. Notice that I did not include 2007 models. This is because they already have the 100000 mile warranty included. Brands included are Chevrolet, GMC, Pontiac, Buick.

The warranty is a warranty that will cover engine, transmission, drive train. It is not a bumper to bumper warranty, but will cover the major components that cost the most to fix. This will take the GM sales to record levels this year as it will offer peace of mind. Imagine, you are looking at a 2003 GM Car with 45000 miles. Under the old Certified Program, you would receive a 3 month, 3000 mile bumper to bumper warranty only. You still receive this, but also get the 100000 power train warranty. I am happy to be a GM Salesman during this Awesome program! Way to go GM, lets take this to the next level.

If you need an Auto Warranty that wont break the bank, Get a FREE QUOTE NOW! This quote is good for ALL Makes, Models, and years. Chevy Car and Truck Warranties, Ford Car and Truck Warranties, Dodge Car and Truck Warranties, and even Toyota, Nissan, and any other makes or models. You pick the place to work on your Auto. Best of All, finance your warranty at 0% interest. Check it out, FREE Extented Warranty Quote!

Guess what? There are still some 2006 models on the ground. What does that mean for you? That means there are some GREAT deals to be found. We are in the second month of the year with last years models still on the ground, that means the rebates are hitting the max, and the deals are getting sweet! They have to GO!
Fill out this short form at Yahoo! Autos
to see exactly what you should be paying for the 2006 you found or the 2007 that just arrived on the lot. There are deals on all of them now, but know what to pay before you even go. there are many savvy customers that are making their deals over the phone just because they do not like the games at the dealerships. Get your price at Yahoo! Autos
and call the dealership and make an offer. If the offer is accepted, then go take a closer look to make sure it is right for you. The saleman will not be mad because once you come in, they know you are serious. There is no haggleing once you get there. It just takes the stress out of the deal for all involved. Oh and by the way, if you are in most parts of the country it is very cold out right now, so dealing over the phone is not such a bad idea. Let me know if you use this method and it works for you.

This is a question that I, as a car salesman, get daily. Everyone is sort of confused about which one to buy. The main thing customers are concerned about is getting a good deal.

Let me say this; Consider pricing between the new vehicle you want compared to used car pricing of the same model. I will use the GMC Envoy because this is one that I sell.

A new GMC Envoy with leather interior will cost about $34000 pretty well equipped. Now with rebates and discounts lets say you can buy one for $31000-this is just an example. Include your tax, tag, title fees and your payment will be approx. $550-$600, this is also an approx. figure. This payment will change according to your rate determined by your credit. Now lets say you plan on trading this vehicle in 2 years and you did 60 month financing. At the end of the 2nd year, you probably will still owe about $26000. I am guessing at these figures, but I have been selling for 10 years so probably real close to being accurate.

Now, take this same well equipped GMC Envoy in a used model. You can buy last years model with 18000 miles for approx. $22000 with a payment in the $400 to $450 range. You also plan on trading this one in 2 years. In 2 years you owe approx. $16000-$17000.

Now, when the used car manager appraises these 2 vehicles you will get a better idea of how things work. The used one will have a few more miles because of the miles on it when you purchased it. The extra miles may cost you $1000 dollars. The new one may appraise for $14000 leaving you a negative equity of $12000. The used one may appraise for $13000 leaving you a negative equity of $4000-$5000. Now you can see the value of buying a used car over new. I have had plenty of customers that purchased a new car that are having trouble trading because of the large negative equity whereas the one that purchased the used vehicle can trade because they are in a better position for the bank. Now, if you put money down when you purchased the used one, you are even in better condition.

I am not saying every new car purchase is bad, but you stand a better chance with a good used car. We also do not know exactly how much a car will depreciate in these 2 years, but this is my experience in past years. So, look at a good used car and compare pricing while you are at the lot.

One of the most costly things about repairing a car is finding the problem. Most cars have a computer that will set a code and activate a Check Engine light to let you know there is a problem. When you take your car to a mechanic to get the problem diagnosed, an $80 diagnostic fee is pretty common. If there were no charge for diagnostics, most would find the problem and take it to a shadetree mechanic to get it fixed. But, try this handy device that Reads and erases DTCs and turns off check engine light. Enables you to quickly and easily link to your vehicle and diagnose the problem. Compact tool fits in the palm of your hand. It is updateable, accommodating future vehicles. This would be a great gift for anyone and pays for itself with the first use. Reader includes a one-year limited warranty.

This is a question that comes up quite often. Is this a good time to buy a new car? When I say new car, I do not necessarily mean a brand new car, but a new car to you, whether it is new or used.

I think you can look at the market and tell when it is a good time to buy a car. Typically, November thru January are slower months for the auto industry as a whole. So dealers and salesman will bend over backwards to make a deal during these times. When spring rolls around and there is an abundance of customers, salesmen will drop a customer or shortcut the process to get to the next deal that may be easier. It is the nature of the business. Many will disagree and say each customer is important during any selling season, but trust me, on a cold November day at 6:00 in the evening with no cars sold for the day, Managers will go out of their way to make a deal. Owners believe every day should be a good day and look crazy at managers that are not giving them results.

Most dealerships have some type of board where each sell for the day is logged. Take a trip to the dealership, find this board and see how many sells have been made on this perticular day. If there are few sales on this board, you have the bargaining wand in your hand. Make a crazy offer, when they say they have to pass on the deal, head to your car to leave. You will find out real quick the least they will take for the car you have chosen. They will beat you to your car with this offer. Novemeber, December, and January are prime months to get a GREAT deal! Dealers are also frantic to get rid of old age units. When I say Old Age, I mean left over 2006 models when 2007s are filling the lots. Pick out one of these leftover 2006 models for your best deal. If these vehicles are not sold by the end of the year, the manufacturer will give a one time credit to the vehicle and all rebates and incentives will be gone. Most dealers do not want to carry this inventory into the next fiscal year.

So go out now and see how good the deal gets. You will probably be surprised how anxious salesmen are to brave the cold to assist you in any way imaginable. Good Luck and happy buying!

I love giving my opinion, so what better way than to help others. If you are in the market, or planning on buying a car in the near future, You have come to the right place. Everyone wants advice, so why not ask someone who knows. Post your question under this post, in the comments section, and I will post your answer back as soon as I read it. I check comments almost daily, so will get you an answer quickly. This will also let me know what customers really think about when buying a car and may help me sell more cars. Now, you may say, why take the advice of a car salesman? Remember, I did say FREE Advice! I have nothing to gain, just a little friendly advice. I am not saying that it will always be correct advice, but I will give you an intelligent outlook from the inside. I love selling cars and will not EVER tell a lie to sell a car. That is just me. Some sales people will lie because they think the truth wont due, but this is not me. I want customers to come back to me in the future as well as send referals. So, if you have a question, whatever it may be, just post it under the comment section of this post. Thanks and look forward to hearing from you.