Buying or Leasing a Car Without loosing your shirt

GOALS  Get prepared – Want vs. Need  New/Used  Researching  Buy/Lease  Negotiating Up!  It’s the delivery that counts

Want Vs. Need Full Disclosure: Huge Waste of Money How much can you afford? What is your commute? Safety vs. Fun How Much Car Do You Really Need??

New vs. Used New Smells great Comes with warranty Low/No mileage Get exactly what you want Instant depreciation Expensive Used Less expensive Already depreciated Might still have a warranty Inheriting someone else’s problem Private Seller vs. Used Car Dealer

Buy vs. Lease Buy Keep the car No limit mileage No need to fix dings and scratches Expensive Might limit what you can afford Lease More car for your money New car more frequently Must insure and fix Penalty for high mileage Still have to pay for maintenance

Researching Compare all the models in your price range Consumer Reports or Edmunds Consumer Reports Edmunds Test drive Have a used car checked by a mechanic Useful info on the Web  

Negotiating Up! What’s the real price of a car? Financing options – research before you go to close the deal Trade ins Research your best options – trade in, private buyer Never talk trade in until you have settled on a purchase price Be prepared to walk

It’s the Delivery that Counts Bring a fine tooth comb Lemon Laws Last resort help – DA’s and RM’s

So, How To Buy A Car Research your options Know your budget – purchase and ownership Test drive Negotiate Up Trade in - maybe Day of delivery One Last Thing  Sciola’s Never-Fail Strategy Guaranteed To Bring Them To Their Knees

Buying or Leasing a Car Without loosing your shirt

 Where to find rentals  How do you stack up  Costs and Contracts  The Fine Print  CYA

 Friends – Family – Friends of Family, Family of Friends  Alumni!  Work Associates and Employers/HR  Internet – Craig’s List, Web Listings, Real Estate Companies, Management Companies  Newspaper – still a good source  Direct from owners/developers  Real Estate Professionals  Property Managers  Rental Agents

 Meet the Salary Requirements – one week’s pay = one month’s rent  Credit Report – timely payments and debt:income  Eviction and Arrest Reports  Prior Landlord References  (Yup, don’t piss off Resi Life just yet …)

 First, Last and One Month’s Security  Key Deposit  Realtors’ Fee  Application/Credit Fee  Pet Deposits *  Misc *  *legal??

 Rental Application  Fixed Term Lease  Tenancy-at-will  Sublet Agreement  Guarantor Form  Addendums to Lease  Additional Provisions  Deposit Receipt  Apartment Condition Statement  Lead Paint Law Notification  Etc.

 Review The Lease!!! – fine print, ask if you don’t know  Who Should Sign – “jointly and severally”  Photograph Damages/Conditions – send copies immediately

 Roommate Conflict  Keeping the peace  Contractual obligations  Subletting  Landlord Conflict  Correspond in writing  Receipts for repairs and deductions after notice  Withholding rent  Advice from attorney  Breaking the lease  Notifying the landlord  Securing sublets or new tenants

 Know Your Rights  Know The Laws  Don’t Try to Be A Lawyer On Your Own  Courtesy Goes A Long Way – don’t forget your manners  Questions?