| 100 Things You Must Do If You Want To
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| | you to determine the interest you will
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| make the right deal for you!by Chuck
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| | pay on a loan. Dealers mark up the
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| Norlin
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| | interest when putting your loan together.
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| Are you armed and prepared to buy your
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| | A dealer could get you a rate of 7% and
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| next vehicle? Do you have a "to
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| | then charge you 12% on your contract,
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| know" list that will guide you
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| | which when multiplied out for 3, 4, or 5
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| through the purchase process, and save
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| | years is a huge difference in dollars. On
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| you hundreds, even thousands of dollars?
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| | $30,000.00 for 5 years the difference is
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| Are you prepared to state your position
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| | about $4200.00-that's your money!
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| and deal in facts, or are you going to
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| | 4. Interest Rates.
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| fly by the seats of your pants deal with
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| | Do you know what the current best
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| guesswork and bravado? It is your choice,
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| | interest rates are? Do you know what rate
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| but it's also your money, and it is your
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| | you qualify for? How does knowing that
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| responsibility to protect it! There are a
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| | information save you money?
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| multitude of factors involved in the
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| | Interest is a variable. Interest can be
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| making of a car deal, let's explore a few
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| | shopped, just like a car. Interest is an
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| of them here.
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| | adjustable thing, the dealer pays some
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| 1. Invoice.
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| | amount, you pay the dealer more than that
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| Do you have any idea what the actual
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| | in most cases.
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| invoice is on the vehicle you are about
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| | Banks have interest rates. Credit Unions
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| to buy? Do you even know where to find
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| | have interest rates (usually the best
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| that information? If you do know, did you
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| | except for the special factory rates).
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| price out your vehicle with all the
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| | Loan companies have interest rates. When
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| options?
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| | you know your credit score and shop the
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| You must know what the cost is on what
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| | rates you save money. Your credit
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| you are buying, and then know what to pay
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| | standing is the instrument that
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| above that cost to own it. Many vehicles
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| | determines your rate, it is your right to
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| have thousands of dollars of profit in
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| | obtain the best rate and have a lower
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| them, do you want to pay all that money
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| | payment-it's your money!
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| for yours? It's your money, and it serves
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| | When the deal is completed, the papers
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| you well to protect it.
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| | signed, and the vehicle is in your
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| 2. Blue Book Value.
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| | driveway, did you buy or were you sold?
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| Do you know how to determine the value of
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| | Were you in charge or were you just along
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| the vehicle you are trading? Do you know
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| | for the ride? Did you know the deal going
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| why knowing the vaue could be worth
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| | in, and coming out, or did you fall prey
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| several thousand dollars to you?
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| | to the "tricks of the trade"
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| Your vehicl represents cash dollars, just
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| | and overpay thousands of dollars?
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| as though you had money in an envelope.
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| | The truth is anyone can make a car
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| Would you hand a dealer the envelope as a
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| | deal-ANYONE! A fifth grader could buy a
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| down payment on the vehicle you are
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| | car, you don't have to have a complete
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| purchasing without knowing the exact
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| | education to buy a car! BUT-what about
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| amount of money in your envelope? Would
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| | getting a "best deal"? What
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| you trust a stranger to tell you what
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| | about knowing ahead of time where you are
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| that envelope was worth, or would you
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| | and what you can do? Now that takes a
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| count the money twice to know exactly
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| | little education, a gathering of facts, a
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| what you have, and then count it out with
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| | little preparation, and a strong dose of
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| the dealer and get a receipt for the
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| | application. Would you go fishing without
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| correct amount? Would it be better to
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| | a hook? Hunting without a bullet for your
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| have an idea what your vehicle was worth
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| | rifle? Would you go into the desert at
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| before you traded it in? Probably!
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| | 125 degrees without some information as
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| 3. Credit Rating.
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| | to how to survive?
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| Do you have a current 3 bureau credit
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| | A good deal is not a happy feeling
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| check? Do you know your credit score(s)?
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| | between your ears, that's foolhardy. A
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| Do you know what having that information
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| | good deal is fact based business,
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| means to you and how to use that
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| | information gathered, a PLAN. You can do
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| information to save money?
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| | that, and you will save hundreds, even
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| Your credit standing determines the price
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| | thousands on your next car deal when you
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| (interest) amount) you will pay to borrow
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| | are prepared, and ultimately empowered.
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| money. Knowing your credit rate allows
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