Buying New Cars with Bad Credit

New cars are a little different than used cars when dealing with bad or negative credit. Sometimes, strangely enough, new cars are a bit easier to sell! In Kentucky, banks limit the cap or maximum interest rate on a new vehicle to 18.23%. Used vehicles they can go as high as 24.99%. On the flip side, banks also charge dealers a hefty fee to do the loan. That plays a role into getting you the best loan possible with the correct vehicle that fits your needs.

The plus side to buying a new car with bad credit, is the rebates. Generally the rebates can be shown as money down in the banks eyes. If you do have some negative equity, this is a great way to help dig you out of your current car. You can also refinance your higher rate a year or so down the road will help lower your payment while reestablishing your credit.

New cars you also gain full factory warranty! With Hyundai, that means 10 years or 100,000 miles of powertrain warranty. That's better than what you have now. With technology advances, this means you'll probably gain higher gas mileage, too.

A big thing you need to focus on. Make sure you're using a great dealer. Make sure they have your needs first before theirs. Do a simple bbb check on them. Check their google score. Check with your friends and family about previous experiences they've had, too!

If I can help, let me know! You are welcome to email me zach.dunn@glennautomall.com or visit my website www.glennautomall.com. I can provide pre-approval for you the best I can, help find the best vehicle for you and treat you with respect throughout the whole experience.

Having bad or negative credit sucks,  but reestablishing doesn't have to suck! I can help!

Peace,

Zach

Can you really trade and lower your payment?

You've all heard it a million times, trade your car and lower your payment!! Is it true? Yes & No. I've seen it go both ways, but it depends on a person by person. With Interest Rates low like they are, that defiantly helps, but you must not have bad credit. Many manufactures are offering low apr's to finance with them (and some give you an additional rebate!)

You cannot have any negative equity, or at least not much negative. Hopefully you'll have some equity in your vehicle or can put some cash down, but it's not required.

I had a gentleman yesterday trade out of his 2009 Sonata for a new 2013 Elantra with the preferred package and lower payment $107 dollars with $0 down and lower his rate almost 5 points. Not too bad and he has a brand new car that doesn't require new tires or a nice little list of service required. He walked in and saved money. Job well done!

What you have to do is look at similar vehicles. You can't go from a Sonata to a Genesis with the same payment, generally. If you're happy with the Sonata, look at a new one and check out the savings! Better gas mileage, full factory warranty and the thrill of a brand new car! It's a great option!

To view our inventory online, click here! You're welcome to email me here!

As always, Peace!

Salespeople are people, too!!

Today's blog is more of a rant than a positive "how to"! It just seems like a myth that salespeople are covered with the plague and if you get too close you're done! You're only hurting yourself when you don't help your salesman with more about you! Do you know all the rebates and incentives? Hyundai offers a military rebate of $500 on new vehicles. Chances are, you didn't know that. Throwing $500 down the drain is stupid and unnecessary.

I do understand that there still are some shady salespeople out in our world. I wish that wasn't true, but it is. All you can do is avoid those salespeople. They tend to hand around dealers with a below average customer satisfaction rating anyway. Do your research!! Check out dealers online. View the www.bbb.org or www.dealerrater.com. Pretty good source. In many cases you can look at the salesman's profile on dealer rater, too.

The moral of the story is to always do your research if you want the best deal. Get what works for you and don't settle. Be happy and positive about what you've just paid a big chunk of change for. If you sense something isn't right, generally it isn't. Don't be scared to work direct with the sales manager for comfort!

As always...Peace!

How to avoid "waiting" at the dealership when making a purchase.

A lot of people dread or fear the downtime they have at the dealership when purchasing a car. Truth is, it's hard on the salesman, too. There is only so much you can do while you wait at the dealership. I'll discuss steps to avoid a lot of the "wait" and how to move the process along as fast as you can.

• Do your research in advance. 

When you know it's time to upgrade, make a list of "Wants" and "Needs". It's important to have a great starting point to help point you in the right direction. Do you want leather, all wheel drive or four wheel drive, sunroof, automatic, bluetooth, ect. This will help to weed out the vehicles that do not fit your profile. Kelley Blue Book if full of great reviews and advice to help you compare different makes and models! 

• Arrange Pre-Approval (if financing) with your bank or dealership of choice and have your budget set. 

It's important to know what you can afford. It's also important to know a general idea where your interest rate is going to be to help calculate your payments. Most new cars and certified used cars will offer a special interest rate incentive (based on credit) to help you get the most for your buck. Most dealers offer to "Get Pre-Approved" like we do. If you're paying cash, know how much you have to spend and work with it!

• Reach out to the dealer. 

Call or email your dealer(s) of choice. Maybe a friend can offer a suggestion to where to buy or who to buy from. Most dealers will offer them a referral bonus! This is a great way to help speed the process along. If you know what you're ready to buy, and you know what you're prepared to pay, work it out over the phone or via email. Both of you will like this! With a trade sometimes it can be a little more difficult where you can work off approximately total figures. You can also schedule your test drive in advance and have both parties ready. While you're looking at the dealers car, let them look at your car! Save time and avoids waiting!  At least have a general idea of where you're going to be before driving to the dealer and being confused with the massive amount of inventory. 

• Ready to Do paperwork?

When it's time to finish the process, the waiting can be long. If there is a line, the dealer will go as fast as they can, but every customer needs to be treated right at their time. You don't want to be rushed when signing important papers do you? Nope! At this point, suggest you start the delivery process in the vehicle. Saves both of you a lot of time and you're not sitting alone in a different environment. Doing it before will allow you to leave almost as soon as your paperwork is finished. 

Is also good to listen your salesman to help offer different solutions. We know cars and deal with them daily. You only buy a car every 3-5 years? We can help! If you have any questions, you can reach me via email here. You can also call/text me 859-474-5020. 

Peace,

Zach

What to expect when buying a car with bad credit

I saw a great article on AutoTrader.com "5 Tips for Getting Financed After Repossession". After reading the article it made me think about the reality we live in today. A lot of good people fell upon harder times and faced a reality of buying food or paying bills. As it should, the food always wins. I mean you can't eat a car, right?! Have damaged or bad credit isn't the end of the world at least! You must take the proper steps to improve your credit, and I'll try and explain by doing so with a car loan. I'll cover the basic steps it takes in getting approved. I'll assume in this blog that you've already obtained a copy of your credit report (if not you can do so here free once a year) and that's you're working on paying your debts off.

• Forget any other car buying experience from the past. Not the level of customer service (generally) but the time it takes and what you can consider. 
• Be ready to look at several options that might be a shocker for you, or something you generally wouldn't consider at least. Be prepared (depending on your credit) to look at a car with higher mileage. Some cases you can use a new car, just depends on you. If you need a 4 door...stick with it! 
• Have your documents ready. Generally we will need proof of income (paycheck stubs), proof of residence (copy of utility bill), 3-5 personally references and your employment information. 
• You're going to be asked about how much you can put down today. No hold checks, not in two weeks, but today! Have cash or a cashiers check with you. 
• Know your budget and stick with it. How much can you afford to spend without putting yourself back in trouble. Be realistic. No $200 payments exist anymore! 
• Do you have a trade? If so, let's get the payoff and see where we stand. 
• Be prepared to wait until the bank has funded the loan before the dealer will allow you to take possession of the vehicle. Remember, it's not personal, but it's our butt on the line! 
• Remember this: Your documents will be verified by the lender. Do not lie. It will come out. 

A lot of places will offer, like us, to get pre-approved click here! The bank will dictate a lot of the situation, not the dealer, so be patient with us. It's not that we don't want to send you home in that nice 2012 Sonata, but we simply can't. A lot of factors depend on your individual situation. We will work with you 100% and will do all we can! We have dedicated finance managers to help in your situation. 

Email me any questions/concerns you have. You can also visit us online at www.glennautomall.com 

    Peace,

    Zach

2013 Hyundai Sonata Review

Today I'd like to talk about one of our most popular vehicles we have to offer. The 2013 Hyundai Sonata GLS 2.4L Popular Package is a great value for any family. I'm sure by now you've seen the fluidic sculpture design Hyundai has offered on the Sonata. I mean, how could you miss how sharp it is! The powerful 2.4L GDI is equipped with 198 horsepower and features a 6-speed Shiftronic automatic transmission.  With an EPA rating of 24(city)/35(highway)/28(combined), the Sonata has a cruising range of 647 miles (highway) to ensure an extended trip between fuel stops.

Key features the Sonata has to offer with the Popular Package is heated from cloth seats, power driver's seat with lumbar, chrome door handles, leatherette door panel inserts, front fog lights, automatic headlights, 16" aluminum alloy wheels, 6-airbag safety system, 4-wheel disc abs with brake assist and electronic brake-force distribution. Bluelink is also standard (free trial) on every Sonata. With Bluelink, you can link your cellphone to the car and remote lock/unlock, receive vehicle diagnostics with more features that I've discussed in previous blogs.

The Sonata, if you've not driven one it a true must if you're considering a new car! It's a sporty fun car with a lot to offer your family. The Sonata makes for a great family sedan, work sedan or just a play car. With a 5 star overall safety rating, the Sonata makes a lot of sense in many ways.

For more help, view our website www.lexingtonhyundai.com or you can email me with any questions you have.

Peace,
@YourAutoGuyZach

Buying for a teenager with safety in mind? Pick the Hyundai Sonata!

I came across a study by the Governors Highway Safety Associations (GHSA) that stated teen traffic deaths are on the rise again. I thought that today I would write about the safety advantages the 2013 Hyundai Sonata has to offer your new driver. Of course you have the basic safety rules that should always be followed:

• Always fasten your seatbelt. No exceptions. 
• No phone calls or texting while in the car. 
• Recommend not driving at night or during inclement weather. 
• With a teenager driving, always limit the number of passengers. No distractions. 

Kentucky, my home state,  has taken it a step further to help insure safety with teenage drivers.

• At 16, teenagers can apply for a learner's permit. Once obtained, the permit  limits the driver to only drive with a licensed driver age 21 or older sitting in the front seat. Teenagers are required at least 60 hours of driving with at least 10 hours at night (with a parent or guardian). 
• At 16 1/2 with at least 180 days of driving and completed the 60 hours of practice driving, they can apply for the "intermediate license". With the intermediate license, teenagers can drive alone with restrictions. No driving is allowed between midnight and 6 am. They are also not allowed to drive with more than one non-family member under the age 18 (unless an adult with a valid license is seated next to them). If a teenage with the intermediate license is convicted of a moving violation, they must restart the 180-day learners permit holding period. 
• At 17 your teenager is eligible for a full unrestricted license as long as they've held the intermediate license for at least six months and taken a drivers education course. Without the drivers education course, teenagers are limited until they are 18 to obtain a full unrestricted drivers license.

I think Kentucky (and others states) have done a great job to try and improve teenager safety while driving.

So it's time to pick out a vehicle. Maybe I'm bias, but the 2013 Hyundai Sonata is a great choice! I'll explain why and maybe you'll see why I'm bias. The 2012 (when test was done) Hyundai Sonata received a 2012 Top Safety Pick award the IIHS (Insurance Institute for Highway Safety). With an overall safety rating of 5 Stars, the Sonata should be number one on your list! Here's a list of safety features to consider when your teenager is driving. Source: Hyundai USA

• Electronic Stability Control (ESC): NHTSA analysis estimates that passenger cars equipped with ESC may experience 35% fewer single-vehicle crashes, and 30% fewer single-vehicle fatalities*. ESC sensors measure the difference between a driver's intended path—when a turn is less or more than intended—and applies appropriate braking force to individual wheels to help regain control.⁵ ESC also includes Traction Control System (TCS), which reduces wheelspin when accelerating.^{4 Disclaimer}
• Traction Control System (TCS): By reducing wheelspin in various adverse traction conditions, including inclement weather, the Traction Control System helps give more stable and predictable acceleration characteristics for a more confident, controlled driving experience.
• Anti-Lock Braking System (ABS): Emergency braking maneuvers can cause a vehicle's wheels to lock up and skid, resulting in a loss of steering control exactly when you need it most. ABS helps prevent the possibility of wheel lockup under hard braking, and rapidly pulses the brakes to help you retain steering control as you come to a stop.
• Brake Assist System: In emergency braking situations, many drivers may not apply sufficient braking force to achieve the shortest possible stopping distance. The Brake Assist system helps detect emergency braking and ensures the maximum braking force is immediately applied to minimize stopping distances.

On top of all that, Hyundai offers Blue Link (Standard Feature but requires a subscription) to help put your mind at ease. Blue Link consist of three different packages. Assurance, Essentials and Guidance.  Here's a rundown of what Blue Link can do for you and your teenage driver. Source: Hyundai USA

Assurance: Automatic Collision Notification, SOS Emergency Assistance, Enhanced Roadside Assistance and Monthly Vehicle Report. 

Essentials Package: Smart phone application that allows you to Remote Lock/Unlock, Remote Vehicle Start (with push button only), Remote Horn & Lights, Car Finder, Geo-Fence, Speed Alert & Curfew Alert (Big Ones and I'll talk about it below), Stolen Vehicle Recovery, Web Diagnostic, Voice Text Messaging and more! 

Guidance Package: Turn-by-turn Navigation, POI Search, Traffic, Gas station locations and prices, Eco-Coach, Restaurant Ratings and Weather. 

The big boys regarding safety would be Geo-Fence, Speed Alert and Curfew Alert. Here's what's nice about that! Blue Link can call or text you alerts based on your settings!

• Geo-Fence: Monitor your vehicle's movement in and out of a specified region. 
• Speed Alert: If your vehicle exceeds a specified speed, you'll be alerted. 
• Curfew Alert: Set a time limit for your vehicle and receive an alert if it operates beyond that time. 

Very nice safety features Hyundai offers parents for their young teenage drivers! Stop by at Glenn Hyundai and see me for a full explanation of what Hyundai and Blue Link has to offer you! Feel free to email me any questions or concerns you may have! 

As always, Peace! 

Zach