The Motley Fool Discussion Boards
Automotive / Buying and Maintaining a Car
|Subject: Fool 13 Steps to Buying a Car needs a 14th step||Date: 8/20/2000 3:09 PM|
|Author: hooferpm||Number: 7141 of 72372|
After listening to the portion of today's show about buying cars (8/20/00), I visited fool.com for the first time. The 13 steps to buying a car is one of the best resources that I have encountered for buying cars.
I really only had one objection and that was that Obtaining Financing was Step 3 after negotiating the price of the new car and trade-in.
A prospective car buyer should always arrange financing in advance with their own credit union or bank before discussing the same with the likes of GMAC, FMCC, Chrysler Financial, etc.
Even if you are planning to take advantage of special Original Equipment Manufacturer (OEM) financing, you are in a position of strength when you enter into negotiations prequalified.
In addition, a prospective car buyer should review their consumer credit files (something that should be done at least once per year as SOP) in advance of applying for a loan:
What you don't know will hurt you - see www.creditscoring.com for details.
Finally, a 14th step is in order. The fool auto expert was "spot on" when he stated that a good, modern automobile will last 10 years or more with proper care - I have surpassed 200,000 miles or 10 years with vehicles that are