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 Show #1289Return to index of stories... |
has funder credit attached at end |
| Preshow #1 Car Buy Return to index of stories... |
In this Outlook on Money: Buying a car - and what you need to know to get the best deal. That's NOW on NH Outlook. |
| Hello/IntroCar buying Return to index of stories... |
Hello. I'm Beth Carroll. Welcome to New Hampshire Outlook. A car is one of the most expensive purchases you'll ever make. Before you step foot into any dealership -- you should give some thought as to your driving habits, your needs, and your budget. Time spent now may save you money later. In this Outlook on Money report-- we take you car shopping to find out what you need to do.to stay in the driver's seat. |
| Car Buying Return to index of stories... |
CAR BUYING TRK 1: 31 year old Heather Mike of Strafford makes her living playing the violin and giving lessons. Getting to and from gigs is important. TRK 2: Her Dodge Dakota has been been less than reliable of late - so, she's trading it in for a new set of wheels. Saleswoman: he's gonna give you twenty five Heather: Okay Saleswoman: Actually he did a print out this is that Kelly Blue Book, and it shows here fair at 2,670. Heather: I just did it this morning, did he do the club cab, that says short bed, this says club cab, he didn't put club cab in there. TRK: Heather came prepared to Negotiate. Saleswoman: maybe that's why it's different. So what does yours show? 45:52 Heather: I'd much rather have 35 that's what I want 45:59 TRK5: Before Heading to the car dealership - Heather did her homework. 00:41:5 5 Heather in Dealership/ Went online and did the Kelly blue book thing for the trade-in values, looked at the invoice rates of new cars, and get what the bottom line is, so you can work from there. 00:41:16 Heather Back at Dealer: I did the whole consumer reports, see whos got the best safety ratings and whos not going to break down. TRK: Search tools on the web…make it easier for consumers to compare prices. Knowing what her truck was worth…gave Heather bargaining power. 00:42:37 Heather at Dealer: Well they go their Kelly Blue Book values with the short bed, not the extended cab, and that's the extended cab, and it's worth more, and I want to get what I can get for it. And if they're looking at the fair value off the internet, and I'm looking at exactly the same thing, but they're looking at the wrong truck, it makes a difference to me. 1:04:50 Heather at Home: Definetly do homework, and bring it with you.don't just do it at home and 1:04:58 having the piece of paper in my hand made a difference 48:34 Heather at Dealer: Saleswoman: He'll give you the 3 grand? Heather: He'll give me 3 grand? Saleswoman: yup Heather: Okay, that'd be great. TRK: Research is the name of the game when buying a car. Information powered consumers make better purchasing decisions. …So they come in today, our clients come in today, knowing more about cars than they ever have in the past. 00:03:00 Trends in car buying are really led by the internet, which is more informed clients knowing what they want and coming in wanting it. Which actually makes our job a lot easier. 01:14:49 BETH stand up TAPE 2 Negotiating the price is all part of the car buying experience. Coming armed with accurate information on the cost and availability of models and options will give you an edge in haggling over prices. Dealers will gladly offer a fair deal to any consumer who's done their homework. TRK: tape 2/ Andrea and Bob Casella of Barrington are toying with the idea of a new car. TRK: The Casellas are in the early stages of their search - BOB: Certainly its pretty important to get out there and look what's available and its always hard to figure out if your getting a good value, I think because its hard to shop within one dealership and know your getting the absolute best deal without going down the road and comparing. 1:18:07 -:20 that would be radio…back too TRK: And, then there's the art of negotiation. 1:20:12 She got hers thrown in the pilot… pressurs on your 1:20:25 TRK: Haggling is all part of the buying process. TAPE 1/ KELLY 00:04:42 Everything's negotiable. To a point. 00:04:47/ Tape 1 BETH: SO YOU SHOULDN'T GIVE UP. KEEP TRYING TO GET THAT BETTER DEAL. 00:04:42- -5:18 Yes, I think again, this goes back to the internet, I think once you know what a dealers markup is, and you don't know that anywhere else in your shopping experience, you don't know what the store pays for a loaf of bread or an appliance. But you do know for an automobile. So once you know that you're paying a reasonable price for the vehicle you really should look for your dealer because the next four, five, six, seven years that you own the vehicle you need good service and you want good, honest, high quality service along with it. TAPE 2 BOB: But in my mind what's just as important as the car your getting is the service that backs it up and I have to say that service is probably 75% of the equation. If you have a problem with the car and you cant get it fixed, its much more frustrating than any of the negotiating your doing trying to buy the car upfront. 01:25:02 TAPE 1 KELLY: 00:01:18 WHAT WOULD YOU SAY IS THE BIGGEST MYTH ABOUT CAR BUYING? 00:01:21 The biggest myth about car buying is that there's some incredible deal. There's some incredible pot of gold on the other end of the rainbow. That if they just go in and get it at the right day then they may get that pot of gold. Our dealer margins are unlike any other industry. Posted on the internet you can actually see what we make or we don't make on the automobile. 00:01:42 WHAT IS THE MARGIN? 00:01:44 Well, it varies by manufacturer, but it's pretty small. Dealers can, from a return on sales, try to work on two, three, four percent, which in most industries would be considered pretty low. TRK: The margin is the difference between sticker price and what the dealer pays. Rebates can reduce the price --but, for the most part a dealer margin is set --and prices vary little. Tape 1 00:42:14/ Heather: I looked at Toyotas as well, and called another Honda dealership. Prices seem pretty much the same, you you're in a couple dollars, do you want to drive to Dover or do you want to drive to Manchester. 00:42:14 What are the deciding factors for you in selecting this car… 42:46 a lot has to do with will the dogs like it. And I think they will.laughs 42:51 TRK: Heather has decided to FINANCE thru the dealership. 43:57 Heather in showroom: …It seems like they can offer a competitive percentage. And it saves the hassle of having to go more places. TRK: Would she get a better deal if she paid in CASH. 00:02:40 No, no. It's actually quite the opposite because when dealers finance they make income on that finance, finance reserve, correct. cu of saleswoman 49:35 TRK: Its off to the business office - to talk FINANCING and terms. Wide shot 51:05 00:51:48 Mike: Are you putting any money down? Yes. Mike: Okay how much are you putting down? Heather: I have decided it's gonna probably. Mike: What's the least amount you're going to put down? Heather: Five Mike: hundred? Heather: No, thousand five thousand to ten thousand. Mike: I'm just going to put the minimum amount down because its easier to borrow less money without permission than it is to get more money. Heather: At least five thousand Mike: Are we going to do sixty months? Heather: I want to get a good rate so less months is Mike: I've been warned about this rate thing for a couple days now. She just kept telling me you better get her a good rate. Woman: That was me Mike: That's what I do; I'm going to do my absolute best. |
| (2nd half of script) Return to index of stories... |
TRK: While Heather prefers the personal connection -- a growing number of modern shoppers prefer not to interract with dealers - using emails to get price quotes. Kelly: 26:26 tape 1/ Its commonplace. We have certain individuals delegated to handle web leads exclusively, they're trained and they will get back to the client as soon as possible. you just cant get back to them with a shrug or a yes or no. Kelly: 27:43 They need to know not only what can I buy the car for. Is do you even have it in the configuration that I might want. KELLY: 28:41 Our website is nothing more than our virtual front door. When someone knocks on that door someone should be there to open it and invite them in. TRK: Car Dealers are increasingly putting their money, time and energy into the internet and other related technologies to reach the Next generation of car buyers where they shop. KELLY: you will see again, the internet, and the offshoots of the internet, blogging and other types of marketing thru either Ipods or other types of personal devices that are being held, even your cell phones, will increase. TRK: As for future car trends - look for more hybrids to fuel sales. Kelly: 00:03:17 hybrids are hot sellers. People are interested in a new technology. they're interested in the fuel economy of course, 3 dollars a gallon will do that for you. TRK: Gas Mileage is what drove Susan Deese of Durham to consider a hybrid. TAPE 2: 1:21:36 I drive a Toyota corolla now that does fairly well, but when the hybrids came out I went alright yes, I believe everyone should be driving a hybrid. We owe it to our children and we owe it to the environment. 01:22:01 SUSAN: It's a great car, rides well, it's a small car, but it fits my needs in terms of space. Tape 2: Beth: Was price a factor? I'm going to end up paying a couple of thousand more than I'd pay for a comparable non-hybrid car. The government is giving tax rebates, not rebates, tax credit and so it'll be between 2 and 3 thousand dollar tax credit on my next years taxes. TAPE 2/ 1:22: 10 I've been thinking about it for about a year and every time I see one on the road I say I have to buy a hybrid and so I'm going to do it. TAPE 1: 00:03:41 BETH: DO THEY GO QUICKLY OFF THE LOT? 00:03:42 Yes they do. 00:03:44 SO IT'S HARD TO HOLD ONTO THEM? 00:03:45 Yes they do, and there's a lot more coming out. In the next year or two there's at least 14,15 different models from all manufacturers from Chevrolet, Honda, Ford, SUV's, hybrid SUV's will be out, even a hybrid pickup truck from Chevrolet this year, just coming in. KELLY 00:10:05 I'm excited about the continuation of hybrids. I'm really excited about the manufacturers adapting the new technology diesels which will be coming out in the Next year. Tape 1/ 52:56 Heather: I don't know there's like add on interest or pre-payment penalties Mike: No Heather: Because I'll probably pay it off early Mike: That's fine. 53:17. Your annual percentage rate is going to be in here and what the total finance charge is, so everything is full disclosure. 53:59: What I'm shooting for is 4.9…very nice… 54:03 54:40 Mike:We have a special going on if you want it. We can have it on the vehicle before you take delivery…It's what we can auto armor its Teflon it goes on. Heather: Does it cost anything? Mike: Oh Yeah 55:05 Heather: Yea. I just want the car I like it how it is. TRK: For Heather price was important but not EVERYTHING. 00:42:37 A lot has to do with will the dogs like it. And I think they will…laughs. 1:03:22 I definetly wanted a good deal I called around and another dealership put me exactly at the same price knew I would get price no matter where I went. I knew it was going to be close and have it convenient and be comfortable and a good connection TRK: Did she think about going on line and sending out quotes to multiple dealers? 1:03:44 Beth" Did you think of going on line and sending out what you wanted to multiple dealers. 1:03:54 I just want to have that personal connection I don't buy that many things on line I d like to go someplace where I can see a person and have a conversation with them and know if I have a problem there is someone I can go back to.you don't get that on ebay 1:04:09 the car in florida that is going to be shipped to you.its not the same. 1:04:16 TRK: With the deal now done -- all that's left is delivery. TAPE 1 DEALER: 56:30 Heather: Excellent, so do I have to anything else? Mike: Show up Heather: Show up tomorrow at ten o'clock and will just do everything and I'll go home and teach a lesson. |
| Tag Car Buying Return to index of stories... |
So, how do you save money on the car of "your" dreams? First, get the wholesale price. The real key is finding out what the dealer paid for the car. 2 Always bargain Up from the wholesale price -- never down from the sticker price. 3 Play the negotiating game -- but be wary of options. They're generally overpriced. 4 And, If you have a trade-in don't mention it until you've agreed on a price for your new car. When its time to talk "trade-in" know what its worth. |
| Intro Used Cars Return to index of stories... |
A lot can be said for buying a Used car. Brand new cars can depreciate as much as 15-30-percent in the first year of ownership. Not only can you get a good USED car for "less" money, you can also get MORE car for the "same" Money. And, Insurance will be a lot cheaper, too. But, what if you can't get a loan? It doesn't have to be a "roadblock" to getting the car you need. |
| Tag Used Car Return to index of stories... |
Bonnie CLAC is not limited to those with credit problems -- they also represent consumers who want to save time or avoid the hassle of negotiating a deal. So, How do you buy a great Used car. Experts say research is Key. Kelley Blue Book is a good starting point in comparing prices. Make sure to get a check of the cars history for information on performance, repairs and problems. And, always get it inspected by a trusted mechanic. |
| Intro AG/Cars Return to index of stories... |
How do you make sure you've got a peach of a car and not a lemon. Assistant Attorney General David Rienzo from the Consumer Protection and Anti-trust bureau in the Attorney General's office joins us from the statehouse in Concord -- with some tips every carbuyer should know. Q David: State's lemon law -- a lot of misconceptions. It only applies to NEW cars. What do we need to know? Q Some buyers walk in and say: I want don't want to spend more than 300 a month. NOT a good idea to buy a car by PAYMENTS?? ** never negotiate based on a montly payment. Q Buying a car and Financing 2 separate transactions? **Do HOMEWORK on both ** Don't have to take DEALERs financing -- should shop around! Q Spot deliveries -- what are they and WHY should we WATCH out for them? * * if financing falls thru -- you think you haven't bought the car -- that's not true? ** say no, if financing hasn't come thru ** entitled to get down payment & trade-in back if financing falls thru ** don't buy on IMPULSE Q Contracts-- read the fine print. Check OUT WARRANTIES and contracts that EXTEND them. Are your legal rights LIMITED if you buy cars on line. ANY protections? Q Beware of Dealer add-ons and fees. Q What are your rights when it comes to CAR ads.that promote price and you get a different price or told vehicle not in stock. Q Biggest Pitfalls in car buying? DAVID RIENZO -- from the attorney generals office -- thanks for the tips. |
| Web Pointer Return to index of stories... |
For information on buying a car used or new and links to our other "Outlook on Money" stories Log on to our website at nhptv.org/outlook. There you can also find all of our New Hampshire Outlook programs online on-demand. |
| Goodnight Return to index of stories... |
That concludes this edition of New Hampshire Outlook. Thanks for watching. I'm Beth Carroll. I'll see you next time. |
| key: Consumer Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 8/31/06 HOST: Beth Carroll Length: 14:20 minutes In this Outlook on Money: Buying a car and what you need to know to get the best deal. That's now on NH Outlook. Hello. I'm Beth Carroll. Welcome to New Hampshire Outlook. A car is one of the most expensive purchases you'll ever make. Before you step foot into any dealership you should give some thought as to your driving habits, your needs, and your budget. Time spent now may save you money later. In this Outlook on Money report we take you car shopping to find out what you need to do to stay in the driver's seat. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Heather Mike\New Car Buyer, Kelly Seyler\G.M., Dover Auto World, Bob Casella \Shopping for a Car, Susan Deese\Shopping for a Hybrid |
| key: Consumer Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 8/31/06 HOST: Beth Carroll Length: 4:00 minutes In this Outlook on Money: Buying a car and what you need to know to get the best deal. That's now on NH Outlook. A lot can be said for buying a used car. Brand new cars can depreciate as much as 15-30-percent in the first year of ownership. Not only can you get a good used car for less money, you can also get more car for the same money. And, insurance will be a lot cheaper, too. But, what if you can't get a loan? It doesn't have to be a roadblock to getting the car you need. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: Monica Ross\Buying a Used Car, Paula Young\Bonnie CLAC |
| key: Comsumer Return to index of stories... |
NEW HAMPSHIRE OUTLOOK Air Date/Time: 8/31/06 HOST: Beth Carroll Length: 6:40 minutes In this Outlook on Money: Buying a car and what you need to know to get the best deal. That's now on NH Outlook. How do you make sure you've got a peach of a car and not a lemon. Assistant Attorney General David Rienzo from the Consumer Protection and Anti-trust bureau in the Attorney General's office joins us from the statehouse in Concord with some tips every carbuyer should know. PRODUCER/REPORTER: Beth Carroll NAME OF PARTICIPANTS: David Rienzo\Asst. Attorney General\Consumer Protection & Antitrust Bureau |
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Tonight on New Hampshire Outlook: Join us tonight at 7:30 only on New Hampshire Public Television. |
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Tonight on New Hampshire Outlook. . Tonight at 10pm on New Hampshire Public Television. |