Tag Archives: used cars

how dealer financing works

The greatest obstacle to get a starting small car dealership is financing.

Once you did every one of the paperwork to setup shop. Getting pre-licensed and securing a lease in the auto zoned commercial division of your city you’ll need financing to fill your lot and financing as a way to sell your cars to folks without cash.

There are numerous of the way to finance the cars with your lot. One of many favorite ones is floorplan financing. This can be a line of credit to purchase cars at auctions. Most cars sell within 90 days hence the floorplan is setup to be returned fully within those 90 days or you need to position the car back up for auction and pay the difference if there is a loss of revenue, you’ll be forced to pay interest ( ofcourse!) So that you better possess a great turnover in your lot if you want to got this route.

Then ofcourse there exists a line of credit having a bank. If you are current using your bank and have a great credit history you could possibly consider a line of credit. Go to your banker and discuss the best possible monthly interest, bear in mind if you purchase a vehicle for 10,000 and your rate of interest is ten % that car costs almost $ 100 more after sitting on each first month here to the name of the game is quick turnover!

You can also find dealerships with angel investors who spend a sizable slice of change which is tax deductible for the children until you begin making money and this might be a little while, but once you start making money they’re going to come knocking.

How might you sell cars fast? By using every means necessary! Advertise in local papers, flyers, internet, buying leads and cold calling. Now you got clients arriving at your lot and loving what they are seeing. You are a great finder with the perfect reliable used cars for sale and provide an incredible warranty. However, there is hook problem, in this day and age not a lot of possible buyers are extremely liquid, meaning having money in their wallets or secured. They needs financing so that you can purchase that completely matched car you’re selling. So what now? You have to be in a position to finance your clients. And this is the tricky part because finance companies loaning money to people without cash and a bad credit score ratings, anything under 700, are difficult to find. However they are around. Those are the sub prime companies. They take risky the risky deals other established banks avoid but at a cost ofcourse! A persons vision minute rates are high between 14 and 24 percent (with regards to the legal limit in your city) and the dealer should pay the financial institution anywhere between 3-six percent to purchase the agreement. 

Outsmarting A Used Car Dealer

Used car dealers make their money by their great ability to sell cars. They are experts at talking to people and getting them to spend their money. These guys could sell sand to the Arabs. If you want to get a good deal on a used car then you will have to learn how to get the upper hand when dealing with a used car salesman but this can be tricky. Below are just some of the ways that you can outsmart a used car dealer.

 

  • Don’t allow them to control the conversation. Make sure you are constantly asking questions and don’t let them fob you off.

 

  • Try not to allow the conversation to move onto personal questions or observations. These used car sellers will often try to act like they are your friend but don’t be taken in by this. They are just trying to sell you something. The seller is controlling the conversation if they can keep the focus on your personal life. The last thing you are going to want is to let them win your trust which is what they will be trying to do.

 

  • Bear in mind that you want to buy a car that you choose yourself and not one that the dealer would like you to buy. Most car dealers will want to get rid of a particular car and they will do their best to get you to buy this car.

 

  • Make sure you know the average selling price for the car you want to buy before you approach a used car dealer. Bargain hard and aim to get at least 20% off the asking price. It is unlikely that you are going to get the full twenty percent but you should be trying to get as close as you can. Never pay the full price that is being asked for the car.

 

  • The dealer may try to fob you off with extras but don’t allow this to happen. Don’t even start negotiating on freebies until you have had a reduction in the price of the car.

 

If the time has come that you can be hunting out used cars for sale, chances are you’ll end up much better off by extensively studying the autos that interest you. This basic research enables you to find the best autos available for each class you look at. And when you finally finish your investigation, you could find yourself leaving the car delears with a tremendous used car.

How to Keep Your Car in Peak Condition

How to Keep Your Car in Peak Condition | By Kayla Reid

There are myriad ways to keep your car in peak condition. With regular maintenance, sensible driving and the occasional deep clean, you will arguably be able to hang on to your treasured set of wheels for many years to come. However, should you opt to part with your used car, your consistent care will pay dividends by improving its resale value at the end of the day.

Consistent care will pay dividends

The first and most important rule of thumb is to maintain and service your car on a regular basis. All vehicle manufacturers generally set out a maintenance plan and will recommend full services either on a time or mileage basis. An oil change, for instance should be conducted every 3 months or 3000 km, whereas the brake fluid probably needs a change after 2 years or 24 000km.


Motor Trend New Car Buyer's Guide - Subscription

Motor Trend New Car Buyer's Guide - Subscription

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Follow the manufacturer’s recommendations

It’s always a good idea to follow the manufacturer’s recommendations to the letter, even as far as using the suggested brand of oil. Drivers who choose a cheaper alternative may find themselves in hot water as the manufacturer is entitled to negate your warranty simply because you have not followed their recommendations.

It’s imperative to keep all maintenance records in a safe place. These records are the only proof that you have consistently cared for your car and will be scrutinised by prospective buyers.

The vehicle identification number (VIN) report is effectively the career résumé of your car and will document everything pertaining to the motor vehicle from ownership to service records to its involvement in accidents. This MV-ID should be safeguarded at all costs; it is really the only proof you have that your car isn’t the proverbial lemon and without it you may well battle to find a buyer.

Beware of corrosive sea air

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In areas like Cape Town where the corrosive sea air can lead to rust, it is important to keep the car not only free of salt deposits but to polish or wax it on a regular basis. This protective coating will keep the colours vibrant and form a protective sheath over the entire vehicle.

Don’t eat, drink or smoke in your car and never leave those small problems to be dealt with “at another time”. Park your car in a garage or under cover, avoid rough roads and drive sensibly and you may be surprised at the longevity of your new or used car.

Reeds Motor Group offers the largest range of guaranteed used cars in Cape Town, and great deals on new cars too! We retail Opel, Isuzu, Chevrolet, Saab, Hummer and Cadillac.
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Brief Guide When You Plan to Buy Used Cars

Brief Guide When You Plan to Buy Used Cars | By David E Bryan

If this is your first time to buy used cars, you will soon realize that this can be a real challenge. You will have to spend more time on your research than on the actual purchase of the car. Even if you are only buying a second hand vehicle, you should still be very careful as to where you will put your hard-earned money. At these times when the economy seems to be unstable, the very thing that you have to be alert is where you spend your money on.


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Mortons_Classic Motorcycle Mechanics - Subscription

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Simple Guide

To help you more regarding your plan to buy used cars, here are some guides that you can read about and follow when you are ready to go about your purchase.

1. What is the type of car that you are looking for? You may want something that the whole family can use. You have to bear that purpose in mind when you go out and see the selection of cars that you can buy. If you have found something that is really elegant but cannot really suffice for the needs of the whole family, you may want to look further no matter how much you like your first choice.

2. You must look into the mechanical condition of the car before you buy it. You can look at its engine and test drive the vehicle to know how it feels to go behind its wheels. You should also take a look at its service history as well as its mileage background.

3. Inspect and thoroughly check every part of the car. In a way, you are assessing how much more you are going to spend after you have purchased your choice. Look at its paint and the condition of its tires. You should also check its interiors and vital parts like the air con, stereo and seat belts.

Good Deals

Your main goal through it all is to find good deals on your venture to buy used cars. You can start the search at the comfort of your own homes by browsing at websites that deal with the matter. You can first search for tricks and guides about how you should go about your purchase. You need to find out the legitimate sites where you can transact business with. You cannot afford to take too much risk just so you will be able to acquire the car that you want as soon as possible. You must know what you are getting into and reading through articles that can be found on the web that deal about the topic will help you a lot in the process.

After you have gathered tips, it is now time to look at the sites that you have collected from your research. You can browse through the available stocks. You must ask questions that you think will help you with your decision. It will be favorable if the site offers assistance, whether it’s done through live chat or through phone. The main thing here is that you can talk with a real person and transact business with them. You can also ask them for favors, like seeing the car first and having it tested on the road before you finalize anything.

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You can also achieve a lot regarding this kind of purchase when you read the classified ads. You will be amazed at the numerous choices, so you really have to take down notes of the ones that will catch your interest.

You may also want to check out your local dealers regarding this quest. This is the easiest way because you will see the cars upfront and you will be able to pick from the ones presented to you.

Search for used cars at Car Auctions and Repo Cars Website
Article Source: http://EzineArticles.com/?expert=David_E_Bryan
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