Avoiding the anxiety of buying a car starts with preparation. It starts with knowing what vehicle you want, right down to the trim level, options, and color. Below are some steps to help you negotiate successfully. Knowledge Is Power Today’s consumers have more information about the car-buying process than ever before. You can learn about every phase, from trade-ins to … Read more
Dealers make a lot of money from expensive add-ons. If you don’t have time to research, it may be best to pass on them, and if you can’t say no, take a trusted friend along who can. Below are 14 common dealer add-ons to recognize and consider before you visit the dealer. Doing so can help you avoid costly mistakes. … Read more
Here are some things TO DO at the dealership to help you get in your car with a great deal. Do: Be Wary When Dealers Start Talking About Monthly Payments One tactic a seller might use is to bring up monthly payments before the total cost of the vehicle is established. This is to try and confuse the buyer in … Read more
Buyers often cited “dealer negotiations” as the most dreaded part of the entire buying process. That’s probably because most buyers are unsure of what to say, how to act, etc. Here are some things you shouldn’t do at a car dealership. Don’t Say You “Love This Car” When you tell the salesperson that you “love that car right there” or … Read more
Here is a list of some common tactics used by dealers to maximize their profits…at your expense. The credit deception A dealer may say something like, “With your credit score, you won’t qualify for competitive financing rates.” This may be true. However, some dealers will imply your credit is worse than it is, so you think you’ll have to pay … Read more
A home inspection and appraisal are crucial steps in finalizing your home-buying process. Understanding the importance and purpose of each can help you protect your investment. A home inspection is a comprehensive review of a house’s physical structure and systems. Conducted by a professional home inspector, this process identifies significant repairs or deficiencies that could affect your decision to purchase … Read more
Private Mortgage Insurance (PMI) is a type of insurance designed to protect a lender if a borrower defaults on their mortgage. PMI is often required on home loans when borrowers make a down payment that is less than 20% of the home’s value. PMI can be a significant factor in the overall cost of a mortgage, adding to the monthly … Read more
While navigating your home loan journey, you’ll encounter various terms, including “points” and “fees.” These aspects of a mortgage can significantly affect its overall cost. Points are upfront fees paid to a lender at closing to reduce the loan’s interest rate. One point is equal to 1% of your loan amount. Paying for points can be a strategic way to … Read more
As you embark on your home-buying journey, two terms you’ll frequently encounter are “pre-qualification” and “pre-approval.” Understanding the distinction between these two is crucial for a smooth home-buying experience. Pre-qualification is an initial step where you provide some initial financial information to the credit union, which then provides an estimate of the mortgage amount you might qualify for. This process … Read more
A cash-out refinance offers homeowners a unique opportunity to quickly utilize the equity that has built up in their homes over time. By refinancing an existing mortgage for an amount higher than what is owed, savvy homeowners can access the difference in cash. This is perfect for those looking to consolidate debt, make home improvements, or cover significant expenses like … Read more
