3 Things Every First Time Car Buyer Should Do

First Time Car Buyers

If you are new to the car buying scene you may have experienced some common feelings: Exhaustion, anxiety and confusion. Sound like you? It doesn’t have to be like this! With the help of a trusted automotive professional and a little research on your part, you can find the perfect vehicle for you and your needs without experiencing any of these seemingly terrible feelings! It can actually be quite an enjoyable experience for those who love to shop or are anxious to get behind the wheel of their very own vehicle. We’ve come up with a short list of the MUST do’s when considering buying your very first vehicle.

Research

Think you know what kind of car you’re looking for? Take the time to research features and models that are important to you. Doing a little research before stepping foot on the lot will help you find the best deals and know when to walk away. It can also empower you to make decisions and help calm your nerves. When you understand more about what you’re buying you will know exactly where you money is going and you may also lift the rose colored glasses on some features or add ons that can be costly. If you aren’t a big music lover, paying for that sound system really isn’t worth the extra speaker, maybe you don’t need the 8-way power adjustable seat but you would like leather detailing. Learn the value and assess what’s important to you before you’re overwhelmed by choice and price tags.

Build a Budget

When you are really excited about that big purchase it can get easy to get lost in all the features, add ons and new model upgrades thrown your way. To keep yourself from getting distracted by all the bells and whistles of a new vehicle, make a budget prior to heading to the dealership. If you have any shopping companions, tell them your budget and get them to help you stick with it! It’s easy to say yes to the added features when you see their seemingly small price next to the larger, overall price of your vehicle but these things add up quickly. Don’t let a $100 or $200 there throw off your finances. If you’ve done your research you know what kind of vehicle and the features that you can afford. Stick to it!

Shop Around

Now that you know what you want and you know how much you have to spend, you’re ready to shop! Take the time to cruise a couple different dealerships not just for pricing but for salespeople. Great sales staff will make a difference for you and your vehicle. If you walk on a lot and someone is pushing you into a vehicle you don’t really want, they might not have your best interest at heart. Shopping around will also allow you to find a trustworthy individual to help you find a payment plan that will work for you. Don’t worry, there are not sneaky sales people all over the place, trust your instincts and come armed with your knowledge of how much things cost, and how much you can spend.

If you are looking for your very first vehicle, it can be easy to become overwhelmed. Using some of these points you can make the process a little smoother and even enjoy your experience! If you’re looking for a reputable financing department in North Carolina, you can contact Frank Myers Auto Maxx in Winston-Salem to learn more about automotive financing!

How Big Should Your Auto Loan Down Payment Be?

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Purchasing a car is one of the largest investments we make. It can be a challenging field to navigate especially when considering financing options with bad credit. In order to start rebuilding bad credit, you have to enter into an affordable agreement and make timely monthly payments that you can afford. Most vehicle financing programs start with a down payment followed by a term length agreement, where you choose how long it take you to pay back your lender but some dealerships offer no money down programs for buyers. Choosing how to balance term length and size of down payment can be difficult and should be carefully considered.

How big a down payment do you need?

It’s possible that you won’t need a down payment at all and even those with poor credit can to benefit from these programs. When considering a down payment it should be noted that contributing money upfront can help reduce both your interest rate and your term length. While many factor contribute to your interest rate, a down payment will often afford you a lower interest rate and a lower monthly payment. If keeping your monthly payments low is high on your priority list, then contributing a larger down payment is a must or you selecting a less expensive vehicle.

If you’re credit score is low or less than ideal, you should save up a reasonable down payment so you can secure a better rate. A lower credit score will yield a high interest rate so your best bet is to pay a little more up front. That said, don’t be scared to look around for the best loan rate. If you know your budget and can put forward a 30% down payment but you can get the same or a better rate for only 20% down, hold on to that extra cash.

If a new vehicle is in your future but you don’t need it right away, start putting some money aside. Only you know what’s best for your personal finances and if purchasing a car outright isn’t for you then having a healthy savings to dip into where if you don’t use it all you’ll have a little extra cash for monthly payments if need be. Plus, being able to come to the table with some more money behind you may put you in a better bargaining position. If paying that extra 5 or 10% gets you a lower rate or shorter term, it may be worth it in the long run as the longer you take to pay people back, the more interest you’re going to pay.

While you’ll hear some mixed messages around how much you should be paying, the consensus seems to be that at least 10% down is ideal. We know that this isn’t always possible especially if your need for a new car is sudden. If you can’t manage this or any down payment, speak with a qualified auto loan specialist such as the ones at Frank Myers Auto Maxx in Winston-Salem  and discuss your options. Having bad credit or limited options doesn’t have to prevent you from securing a great quality vehicle at an affordable price.

How To Build Your Credit Score In 3 Easy Steps

When you first start building your credit score it can be hard to know where to start and even harder to get people to trust you with a zero credit rating. While it may feel like you’re being punished before you’ve committed a crime, don’t worry. You can begin building towards a great credit score and not to mention finance a vehicle even if it may seem impossible.

Creditors and lenders use your credit history to establish whether or not you’re trustworthy. If you hope to take out a loan in the future, or buy a house, you need to establish a good credit rating early on and nurture that relationship over the years. We have a few tips to help you build up your credit.


1) Check out your credit score

I know you think you have a zero credit rating, but are you sure? Make sure you have a clean slate before you begin to move forward. Sometimes things you would not expect can show up on a credit report such as an unpaid library fine and a forgetten medical bill etc. Doing a credit report check will help you know exactly where you stand so when you have a discussion with lenders, they won’t blindside you! It will also give you the opportunity to pay off any of the sneaky debts you may have accumulated.


2) Apply for an auto loan and/or credit card.

You are more than capable of securing an auto loan with zero credit. It you are new to the country you start with a blank slate and creditors will often give you a chance, merely at a higher rate. While the rate may be higher than if you had already esablished an impeccable credit score, with the right team working for you, you can find yourself an affordable payment plan that works with your budget and still find a high quality vehicle.

If you are not in the market for a vehicle, credit cards are also a great way to establish trust with creditors. Talk to your local financial institution about what card may work for you. If you are in the position, you could get both. It you’re looking for a card and are able to secure a low-limit credit card, go for it! Taking loans and paying them back is how you establish credit.

3) Make your payments in full and on time

When you enter into a loan agreement, make sure that you are signing up for affordable payments. When you take out a loan, you are expected to make timely payments and if you fail to do so your credit score will fall. No if’s and’s or but’s. When discussing your financing options with the financial services department, make sure you are open and honest about what you can afford and don’t feel pressured to commit to something that is out of reach. If you feel the agent is pushing you, move on to work with someone more trustworthy.


If you have gone the credit card route, make small payments on your card that you are able to pay in full. It is not enough to pay the minimum payments so be aware of your spending and know that the creditors are watching!

While it may seem overwhelming, especially if you’ve been turned down, to get your first loan and build your credit score with zero credit, it is possible! An auto loan is a great way to start building towards a great future credit rating if you are in the financial position to do so. Everyone needs reliable transportation regardless of credit ratings. Working with a reputable lender and team of financial professionals like the staff at Frank Myers Auto Maxx in Winston-Salem is a great way to work towards your financial future.

Cleaning Your Car In 9 Steps

Breathe in. Breathe out. Ahhhhh!!! You smell that? YES, you’re right. It’s springtime!

A season of renewal, sunshine, fun and, dare I say it—CLEANLINESS! As much fun as it’s not, this is the time of the year to get your clean on and take care of some much needed spring cleaning! So set aside an afternoon to transform your stuff from messy to tidy—and please don’t forget to include your car.

Dirty cars, trucks, vans and SUV’s need love too!

Ask yourself these questions:

1) Are you a little embarrassed when a friend jumps into the passenger seat of your car? 

2) Moms, do you hang your head low in car line?

3) What about on Friday night? Does your date step back in horror as he or she sits down in the passengers side?

4) Do you know what that strange odor is coming from underneath the seats? You know the one that’s an odd mixture of month old chicken nuggets and sweaty gym socks.

If you answered yes to any of the questions above, now is the perfect time to do something about the state of your car.

So I’m here to help! Follow my guidelines to get your car back in shape for spring . . . for the sake of your friendships . . . for your sanity in car line . . . and especially for that “hot” date you’d like to go on next weekend (even if its with your spouse). 

Think about how much better you’ll feel behind the wheel of your clean ride. Say goodbye to dirt and hello to a fun springtime in your clean and shiny car!

SPRING CAR CLEANING GUIDE:

1. Wash—Wash your vehicle using a mild soap and water. Then dry with a soft, clean chamois (or lint free towel). Don’t allow bird poop, bugs, and tree sap to damage your paint. Remove them as soon as you can because the eating away of your paint happens fast, especially with the stronger sun of spring baking down on your paint. Use a soft brush to clean wheels and NEVER use chemicals with an acid base. If your wheels are dirty, clean those first.

2. Polish & Wax—Your vehicle deserves and needs a fresh coat of wax on your car for spring. The wax serves as a protective barrier against the insects, bird droppings and tree sap that’s plentiful this time of year. And that you just spent hours cleaning off. In addition to that, wax keeps your car looking nice and shiny.

3. Replace Filters—Have your auto service center of choice (like Frank Myers Auto Maxx…HINT! HINT!) inspect your cabin air filters and engine air filters. Replace all filters if necessary. During spring these filters can become heavy with pollen, which negatively effects how your car runs.

4. Clean Screen—Clear the screen where the hood and windshield meet, directly under the wipers. Also clear out crevices in this area. You have to make sure and keep these areas free of leaves and miscellaneous debris so that they won’t absorb water, which causes rust, and which can cause sediment that will clog the evaporator drain. If you don’t, you could be facing very expensive auto repairs and no one wants those.

5. Pressure Check—Make sure your tires are set to the proper pressure because as temperatures get higher, air expands, so you may have to let air out of your tires. If you need assistance with this, Frank Myers Auto Maxx can check your tire pressure for free.

6. Interior Detail—Pull out your car mats. Vacuum carpet. Wipe down interior. Throw away garbage. Organize your trunk. If your carpet is stained, they can be cleaned at most professional auto detail centers.

7. Window Clean—Clean all the windows and mirrors (inside and out). Use a solution of ¼ cup household ammonia to 1-quart water. Apply solution with a sponge and dry with newspaper, paper towels or a soft cloth…but newspaper works best.

8. Clean Your Blades—Gently lift the blades, and wipe both sides with a soft cloth or paper towel soaked in a solution of ¼ cup household ammonia to 1-quart cold water. Dry the blades with a cloth and lower them back into place.

9. Shine Your Lights—Apply window cleaner to your headlights. Rub vigorously. If your headlights have become milky, they may need some additional TLC by a professional.

If you’ve followed steps 1 to 9 to get your car clean then you deserve a break! So take that shiny ride out to dinner. Bring a friend along. You wouldn’t want all that work to go unnoticed!!!

Happy clean trails to you! Until we meet again.

 

Frank Myers Auto In A HO, HO, HO Lot Of Trouble

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“I’m In A HO HO HO LOTTA Trouble So I’m Paying As Much As Double!” Says Local Car Dealer Who’s Forced to Overpay For Your Trade To Keep Inventory Full!

 Winston Salem, NC – Car sales are hot, hot, hot this year! The October edition of Automotive News reported a 13 percent gain in sales this year. When you couple the rise in sales with all time low interest rates you have a recipe for disaster. Local car dealer, Tracy Myers, is happily struggling to get enough cars to keep up the pace.

“I’m in a HO HO HO LOTTA TROUBLE this holiday season.” Myers says jokingly. “With the surge in car sales this year, I’m selling cars faster than I can get them. I need cars so badly that I’m willing to buy them from the public at inflated rates. That’s right, I’m in trouble and paying up to double the appraised value for trades. 

Many factors contribute to the rising sales pace in the automotive industry and there’s no end in site for 2012. Sales totaled 1,188,899 light vehicles in September 2012 which accounted for almost 100,000 more than forecasters predicted—the best since March 2008 and the cash-for-clunkers surge in 2009!

To make keeping inventory full even harder, low interest rates are making it a very attractive time to buy a new car. “It’s so busy that I can’t keep cars! I’ll pay up to double the appraised value for trades to keep things moving during the holiday. As I said, I’m in a HO HO HO LOTTA Trouble and I’ll pay you up to double this month. Come down to our store today!” Myers urged!

HO HO HO LOTTA SAVINGS!

Myers went on to say, “With the holidays approaching, I know most people would really appreciate a little extra help. I want my customers to have a little more to make merry with so I’m even giving people without a trade a HO HO HO Huge holiday bonus savings off the price of the nicer, newer Certified car you choose. Between that and paying up to double the appraised value for cars, I should be able to keep my inventory full and help you drive a nicer, newer car you’ll love. I want this holiday season to go down in history as our best ever! I like giving back to the community.”

HO HO HO LOTTA HELP!

With a twinkle in his eye, Santa Tracy pointed out that his “Everybody Rides Credit Approval Process” works HO HO HO harder than my elves to get customers a nicer, newer car this season. We treat everyone with respect and want people to feel comfortable coming to Frank Myers Auto Maxx even when they’ve been turned down before. We work with banks to find solutions to your problems.

Santa Tracy stated, “I believe everyone deserves to drive a nicer, newer car and no one should have to drive a car they hate, especially during the holidays.”

With a mission to help people drive something they love and the drastic need to get cars this season, this is an excellent time to buy a nicer, newer Certified car from Frank Myers Auto Maxx. Drive your old ride to Frank Myers Auto Maxx and get up to double the appraised value for your trade; then drive home in a HO HO HO lot nicer and newer Certified car! Plus, if you don’t have a trade, you can still get a huge holiday bonus savings.

Come down and help Santa Tracy get out of a HO HO HO LOTTA Trouble. He’ll pay you double the appraised value for your trade this month. No trade? No problem. You can get a HO HO HO huge holiday bonus savings to help you drive a nicer, newer Certified car today.

Hurry down this week! To take advantage of this generous offer, visit Frank Myers Auto Maxx at 4200 North Pattersaon Avenue in Winston Salem, NC 27105 or call 336-767-3432 to schedule a HO HO HO holiday appointment right now. Plus, you can start the quick and easy credit approval process by going to http://www.frankmyersauto.com/-pre-approval.

Uncle Frank Sez: “YES…this offer is real and there is no need to pinch yourself. Please know that offers may not combine & some negative equity may be refinanced. Financing requires bank approval. Vehicle purchase price affects trade allowance.