Even though the speaker could not make it, our president pulled a talk out of his hat. The question session was very active.
Here are Heather Woodley’s reactions:
At the Probus May meeting the featured speaker was our president, Larry O’Donnell, who is an authority on purchasing both new and used vehicles.
SOME TIPS ON GOING TO A CAR DEALERSHIP
Before making an appointment at a dealership prepare a list of any considerations you may have, the options you want, your budget range, and the taxes that must be paid.
Have high expectations of the salesperson: someone who listens, is respectful, and answers your questions.
Consider safety features to be of primary importance. A car with anti-lock brakes, dual and side airbags, and anti-theft devices costs more to buy but could result in lower premiums.
A manufacturer’s warranty generally covers manufacturing defects or failures for a period of time after purchase and is automatically included. Be aware that the financial manager of the dealership will speak to you about purchasing an extended warranty, an add on feature that covers defects and failures not covered by the manufacturing warranty. This will give you peace of mind but is generally expensive. Ask for a discount!
Ask the salesperson about incentives such as rebates, loyalty programs, low interest rates, or deals that are going on.
Always test drive a vehicle before purchasing. Do this twice if possible and always ask the salesperson to accompany you.
Before purchasing always contact your insurance company to find out what your new insurance rate will be on the new vehicle. The vehicle band and model can affect your insurance rate for better or for worse.
Read the contract over carefully. The contract will state the cost of borrowing if you are financing the vehicle over a specific time period.
Ask the salesperson about all fees that you are charged as a customer. There are mandatory fees and optional fees the dealership might charge you. These must be factored in the total cost.
The salesperson should go over the car with you in detail and review your warranty period.
BUYING A USED VEHICLE
Safety standards on a used vehicle are only to a minimum and are not a warranty.
Hire a mechanic to go over the vehicle and sign a safety certificate. If the vehicle is being sold at a dealership the mechanic can go there and charge you the $100.00 fee for this certificate which is valid for only 36 days after a mechanic signs off on it.
If a minor accident has happened and not been reported to the police then it will not be in the car facts.
Remember that safety features are very important.
Always test drive the vehicle.