Americans
love their cars. Cars have been an
important part of our culture. Trading
them is not so pleasant or comfortable for some people.
I
was a new Ford/Mercury dealer for five years and was in the collector car business
for ten years. I will share a few things
I learned.
There
is no such thing as a good deal if the vehicle is not what you want. Cars are too expensive to compromise on a
vehicle that is not what you really want.
You will be unhappy with your purchase for five or six years. Changing vehicles as soon as you realize you made
a mistake is very expansive.
Are
you in the market for a new or used vehicle?
A few decades ago a car was considered used up when it had 100,000 miles
on it. Today, cars and trucks are made
better and last longer. There are many
reliable vehicles on the road with 300,000 miles.
There
was a time when I only bought new vehicles for my personal use, and I bought
them every couple years. Now, I have not
bought a new vehicle in thirty years. I
get better value from finding good used vehicles.
When
I was in the car business years ago, there was a saying that it still true
today. It is: “You can’t pay too much
for a good used car and you can’t get a rough used car cheap enough.” Condition is the key factor for buying,
selling, or trading used vehicles.
Finding
a new car is easy. Finding a good used
car is a challenge. If you know what you
want in a used car, the internet makes it much easier to find the right
one.
Do
not buy a used vehicle without inspecting it.
You may want to hire someone in the automotive business to inspect it
for you. If the price of a used car is
low, it is probably a rough car and not worth buying.
I
spent ten years in the collector car business.
We bought and sold a lot of cars without seeing them. This is an art and we still sometimes made
mistakes.
When
I was a new car dealer and traded for a rough used car, that car went directly
to the auction. Rough cars were not
worth putting on my used car lot. When a
car is listed for below market value, there is a reason - it is rough.
I
recently was interested in buying a used Lincoln MKT. Over several months, I looked at a half dozen
cars in a 100 mile radius. Most were too
rough but were still priced like a nice car.
I finally found one from a private seller that met my standards.
If
you are buying a car from a dealer, remember that the dealer makes money by
financing the car for you or by selling you extras, like extended warranties and
dealer options like undercoating and waxes.
Leasing is pushed by dealers today because it is profitable for the
dealer and you have to come back at the end of the lease, which gives the
dealer the first chance to sell to you again.
When
you buy a new or used car do you have a car to liquidate? Selling a car yourself is an option, but can
be a hassle and be time consuming. You
will also pay additional tax on the value of your trade if you sell it
yourself.
A
dealer can also make money from your trade.
Is your trade a nice car or a rough car?
If it is a nice car, you must find a dealer with a used car manager who
knows used cars. Unfortunately, the
majority do not. If the appraiser just
checks the VIN and mileage with a quick walk-a-round without driving and
inspecting your trade, go to another dealer.
If your trade is rough, it doesn’t make a lot of difference.
We
see ads saying you can trade cars from your easy chair today. Don’t fall for them. Buying a new car is fine, but used cars will
normally be rough. If you have a trade,
the value they give you is for a rough car.
This is the only way they can protect themselves. They are not giving you a fair values for a
nice car.
“Trump did not bring division. Division brought Trump.
If you don’t see that, then you’re
part of the problem.”
Ava Armstrong
God bless President Trump and guide him to
make America
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