Tips & Advice
How can you negotiate a good price with a car dealer?
If you want to negotiate a deal with a car dealer know what you want going in, understand the market value of the car, and have a budget. If a dealer will not negotiate, simply go to their competition (even between dealers of the same brand)--someone will lower the rate to get you into the car. Be sure to shop late in the year or at year-end sales when dealers are purging inventory for the new models. here are also many places to shop online and get a new car without even leaving your home.
Is it better to get a car loan from a bank or a dealer?
It is better to get a loan from the lender that gives you the best deal. Lending institutions are in this to make money and that can fuel fierce competition for your business, which gives you the advantage. Dealerships can offer great financing deals if you look around and shop the competition – and so can banks. Get rates and compare. Chances are good someone will look to beat competitor’s quotes, especially dealerships that are pressured to make sales quotas, often in lieu of actual profit on the vehicle.
How much of a down payment is required to buy a car?
All down payments are different and are determined by several factors, starting with your credit. If you have good credit you might qualify for no down payment. How much is the car? Are you buying or leasing? Is it a new or used car? Is it a dealership or an independent car lot? What are your financial capabilities? All of these will factor into your down payment and future payments. Be aware that if you go with no down payment, your actual monthly payments will be higher. You are still purchasing something over a period of time, and they have to recoup that money somewhere. Some dealers use no down payment as an incentive to lure you in, but that doesn’t necessarily mean you are paying less.
Can you trade in a car that is not paid off?
Absolutely! It is very common to trade in a car that is not fully paid off. The dealership assumes the remainder of the contract and you get a new (or pre-owned) vehicle.
Do car dealerships buy cars?
Many, but not all, car dealerships will buy your car. Practically all of them will accept your car as a trade-in if you are buying a car from them. Used car dealers make their living on buying and selling used cars. If they think can make money on your car, even if it is as a trade-in that puts you in a new car of theirs, it’s a good bet they will buy your car. Luckily there are so many options now for selling your car, you should not have a problem finding a buyer quickly, just with a little research.
Do home remodeling companies offer warranties?
Yes, home remodeling companies have a responsibility to offer minimum warranties to clients, and many of the reputable ones provide warranties well beyond the minimum terms.
Do home improvement projects require a permit?
Yes, home improvement projects almost always require a permit. Only remodels that are purely cosmetic--i.e. interior painting, cabinet refacing, replacing hard flooring--do not require permits. It is usually prudent to check with the local building/permitting office in advance of beginning the project.
What is a home improvement contractor?
A home improvement contractor is a licensed, insured, and bonded residential contractor who specializes in home renovations, home remodels and additions. Some home improvement contractors are mid-sized companies with employees, and they can handle major projects, such as second-story additions, from soup to nuts, bringing on reputable subcontractors and handling the permits with the local authorities. Other home improvement contractors specialize in just a few trades, like flooring or roofing. Individual, inexpensive home improvement contractors can be just a step up form handymen or carpenters--but if they’re making any lasting changes to the residence, they should still be licensed and insured.
What is a home improvement loan?
A home improvement loan is a loan specifically earmarked for renovating/remodeling the residence, and if the collateral is home equity, the borrower usually needs to detail the scope of improvements and costs, and a contractor needs to sign off when complete. However, people with good credit can also commonly take out unsecured home improvement loans, and there’s also an option of taking out a subordinate (second) mortgage.
Is home renovation the same as home remodeling?
Home renovation is not the same as home remodeling, though it is similar. Home renovation is the term for making improvements to the elements of a residence that are rundown or noticeably dated or too old to be comfortable/livable any longer.