|
STEP 9: Present Trade-In and Get Extended Warranty
DO NOT trade-in your car before you read Sell Your Own Car. This is, by far, the easiest way to save money. If you are unable to sell your old car yourself or you prefer to trade it in, WAIT until you have completely negotiated the price of the car you are purchasing.
Since you have a good deal on your car purchase, the amount a dealer is willing to pay for your trade-in will be low.
Before you go to the dealer, go to Get Used Car Values so that you know the trade-in value, the private party price and the retail price.
The dealer is unlikely to pay any more than the trade-in value ... so you have lost quite a bit of money on a newer model car. Try having the car appraised or sold on carmax.com. Their prices are usually better than the trade-in value.
There is a tax advantage to trading in your car ... but the savings usually fall short of the savings you get by selling the car yourself. The sales tax is levied on the difference between the price of the car you are purchasing and the price of the car you are trading in.
For example, if you are purchasing a car for $20,000 and the sales tax is 7%, your taxes will be $1,400. On the other hand, when you trade in a car valued at $10,000, your taxes will be 7% of $20,000 - $10,000 = $700.
DO NOT TRADE-IN AN AUTOMOBILE THAT HAS A LOAN VALUE GREATER THAN THE TRADE-IN VALUE
New Cars will come with a Manufacturer's Warranty that lasts three years or more (depending on the model). If you get a new car every three years or so this warranty is enough and no Extended Warranty is needed. Extended Warranty insurance enhances and extends the Manufacturer's Warranty.
Get Extended Warranty
But if you keep your new car longer than three years or if you are buying a used car, you will want to look into an Extended Warranty because it:
a Provides "peace of mind"
a Protects against the rising cost of repairs
a Allows repairs to be made when needed
a Adds resale value to your vehicle
a Costs less to buy when your vehicle is new
Do not purchase the insurance from the dealer. It is one of the most profitable products the dealer sells ... you can save up to 60% by buying it online!
CarThority.com recommends Warranty Direct, a company which has been in business more than 28 years and is an A-Excellent rated insurer ... your claim will be paid. It has sold over 2,000,000 plans with over $500,000,000 paid in claims. It is a member of the Better Business Bureau with an excellent record. These are some of the features of their policies:
a Coverage in all 50 states
a Your choice of repair facility
a Accepted at dealers
a Direct payment to repair facility
a Unlimited number of claims - no limits to how many you can file
a Seven different options for you covering vehicles with as much as 150,000 miles!
a Wear and tear coverage
a Seals and gaskets covered
a Over-heating covered
a One deductible per visit
a Zero deductible option available
a FREE 24/7 roadside assistance
a $100 in towing benefits
a Car rental reimbursement
a Transferable
a You can review the actual contract online
a Convenient payment plans
a Money back guarantee!
Quotes are FREE and easy to get. Get your FREE Extended Warranty quote now.
The sooner you purchase your Extended Warranty, the less you will pay for it. However buying it the day you buy your car won't make any difference - it's not a bad idea to wait 30 days or so before you invest in one giving you time to do your research and get your price quotes.
If you choose to purchase an Extended Warranty, you must perform all the required maintenance on your vehicle and keep records /receipts of any and all maintenance. This insures the warranty you have purchased will remain valid for the determined time period and is transferable when you sell your car
|
