May
17

Your Questions About Buy Cars At Auction

Donald Your Questions About Buy Cars At Auction

Donald asks…

where can I go to buy auction cars at?

I’m not a dealer, just a private buyer wanting to purchase a car vehicle through an auction house. I live in morganton N.C. Is there any legit sites to go through or does anyonr know of or how to get into auctions locally…thanks

latitude answers:

Www.adesa.com or manheim.com

Thomas Your Questions About Buy Cars At Auction

Thomas asks…

Why dont more people just buy their cars at auctions instead of paying a dealer a sizeable profit?

can most anyone go to an auction and buy cars for very small amounts compared to what you would pay at a dealership? why most people dont do this?
how much more do dealers often mark up the price after buying at auctions? and IS THIS REALLY ETHICAL TO MARK UP THAT MUCH? WHY?

latitude answers:

I don’t know either, as long as the car has service history you can buy exactly the same warranty that the dealer will give. You can buy 3 year old cars at 2 or 3k cheaper in the auction. All I do is watch the car when it is started before they drive them through, if it starts ok I then check that it hasn’t leaked anything.
If you time it correctly, March / September you get the company lease vehicles going through and can really pick up a bargain as they always are serviced and well maintained.

Betty Your Questions About Buy Cars At Auction

Betty asks…

why dont more people just buy their cars at auctions instead of paying a dealer a sizeable profit?

can most anyone go to an auction and buy cars for very small amounts compared to what you would pay at a dealership? why most people dont do this?
how much more do dealers often mark up the price after buying at auctions? and IS THIS REALLY ETHICAL TO MARK UP THAT MUCH? WHY?

latitude answers:

Buying at an auction is fo those who have enough knowledge of the product and its pitfalls.
Eg a large number of vehicles have mileages ‘clocked’ . Non disclosed damage and other issues.
Insurance. Tax etc and moving a vehicle can be problematic.
This is ideally suited to business buyers whom are ste up to trade in this way.
If you wish to make an offer it is easily possible. Make sure you can arrange both tax and insurance or move vehicle on a trailer before offering to purchase.
Make sure you are aware of a cars faults. What to look for,. What you can check ( not allowed to drive any) etc and be ready to have bought a ‘lemon’. If taking due care etc it is possible to save cash. Much a a dealers higher costs are due to transport, serving, repairs needed ,labour,time etc all necessary to conduct a business. Lumped together are called overheads.
They also have to offer recompense under law if selling etc so warranty costs and so on can be considerable.
Hence mark up seems high but in reality profit per vehicle can be as little as an average of 5% over a years trading.

Donna Your Questions About Buy Cars At Auction

Donna asks…

what is a good website to buy cars from auctions at very low prices?

i’ve heard that car dealers buy cars from auctions at a fraction of the price in which they sell them. Any one have previous experience at buying from auctions and websites that are legit? thanx in advance

latitude answers:

That’s true. But there are plenty of public auctions you can go to that don’t require you to have a dealer’s license. Most of them are free to attend too.

Http://www.mycarauctionreview.com has reviews on a couple of cheap car auction sites you can use.

Sandra Your Questions About Buy Cars At Auction

Sandra asks…

What do I need to buy cars at auctions?

I want to buy less then 5 cars a month. I own an auto body repair shop. I was told i need a dealers license but when I looked into it, the secretary of states office told me that i had to actually have a dealer in order to buy cars at an auction. I dont want to open a dealer, i just want to buy a couple of cars a month to keep my employees busy during slow times. Is there a different type of license to do this or any auctions where i dont need to have a dealer license that are open to the public. I live in Illinois.

latitude answers:

Hi
You can get really good cheap cars from auctions , you will find thousands of different auction and repo cars of all kinds of models really cheap at http://www.carauctiondeals.com
Hope this helps

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May
17

Your Questions About Buying Repo Cars

Steven Your Questions About Buying Repo Cars

Steven asks…

how do you recover from a car repo?

my boyfriend bought his car a year and a half ago from a used car place. at about the same time he lost his job and has pretty much been from job to job, i mean its been really hard for him to find something that really fits.

anyway he cant make the payments on time or at all sometime and the car is not even running.

he’s just about ready to just let it go…..of course he knows what this will do to his credit, but can anyone explain the process and how can one recover (credit wise) after a repo.

latitude answers:

You will just have to pay back. They will come and get your vehicle and then turn around sell it for less than what you payed for it, and then you will have to pay what was left out of the rest that was not covered for. I went threw this a year ago after I got pregnant and had to be bed rested for most of my pregnancy and had to quite my job. Good Luck with everything!

Donald Your Questions About Buying Repo Cars

Donald asks…

how bad does a car repo hurt your credit when buying a house?

me and my husband want to try to buy a house in the next 2 years or so but due to a new child custody court order form my ex i now have to drive 100 miles a day to take and pick up my kids from school that is spending over 4 hours driving a day and i have to let go of my home day care to do this so we must let og of atleast oen of our cars. we ar upside down and owe just 50$ less than what the original purchase price of $14000 when we bought almost 3 years ago. we cant have anyone take over payments or buy it since trade in value is at about $3000 but we owe close to $14000

would it really hurt us that bad if we let one or both cars go if we try to buy a house in the next 2-3 years.
we have always paid our rent and other bills on time an never broke a lease or anything but due to a BS court order i am now stuck driving 100 miles every day and must give up my daycare since i obviously cant care for other kids and be driving for 4 hours out of the daycare day so i am loosing over $1000 a month because of this deal. so we really dont have a choice

latitude answers:

It will prevent you from buying. Aside from the HUGE ding on your credit you are still going to owe the 11k.

You might try finding job near the kids school and working while they are in school, this would solve your problem and reduce your driving time.

Ken Your Questions About Buying Repo Cars

Ken asks…

Can a person repo a car if they are the lienholder and the “owner” sold it without the lienholders permission?

A friend of mine bought a car for her stepson and she is named the lienholder. The stepson never repaid her for the car which was the verbal agreement. The stepson has since sold the car without her permission. My friend now wants the car back, can she repo it? What steps must she take in order to do this?

latitude answers:

She sure can.
She is the legal owner. If she has the spare keys and knows where it i, go take it.

Without the title being signed over, no legal transaction took place. Therefore, in the eyes of the law, the person driving the vehicle now is ‘borrowing’ it.

The cops come after her, then she shows them the title indicating she is the legal owner.

The current driver of your friends’ vehicle will need to sue your friend’s stepson for their money back, as he had no right to sell a vehicle he didn’t own.

Sharon Your Questions About Buying Repo Cars

Sharon asks…

can some one buy a repo car for me?

i live in vista ca and would like to buy a repo car. i dont want to enroll in any kind of web site so if theres some one who can buy it for me it would be great. ofcourse that i would give you a couple hundred dollars for the favor

latitude answers:

Why would you not want to enroll at a free website?

Whats the catch?

Michael Your Questions About Buying Repo Cars

Michael asks…

has anyone ever bought a police impound//repo car???

im looking in the pennysaver and the police impound cars say theyre as low as $500.
would you recommend buying it from there????

latitude answers:

I buy them regularly. I pick and choose but most are in pretty good shape. No harm in looking. They only go to auction and sold for pennies.

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May
17

Your Questions About Automobile Insurance

William Your Questions About Automobile Insurance

William asks…

Is a requirement to carry health insurance is no different from a requirement to buy automobile insurance?

then why we do not subsidize automobile insurance for the poor?

latitude answers:

There is no mandate to buy auto insurance, in ANY state. Such an assertion is pure, unadulterated leftist bullshit in a pathetic attempt to spin that ObamaCare is Constitutional.

Donna Your Questions About Automobile Insurance

Donna asks…

automobile insurance?

we have our own coverage for our cars. Our daughter may have to drive from time to time, can she get her own coverage? or do we have to put her on our policy?

latitude answers:

If she lives with you, you can do it Either way. Going with your insurance will be the cheapest.

Maria Your Questions About Automobile Insurance

Maria asks…

Can Anyone tell what automobile insurance company issued this policy based o the policy number?

New Jersey automobile insurance policy number is CA2950647, accident was in ny, no insurance code listed, NJ DMV taking forever, does this look like a familiar policy number format to anyone?

latitude answers:

CA is usually short for “commercial auto”, so odds are, it’s a commercial auto policy.

But it might not be.

See, insurance companies set up their policy numbers all seperately. There’s no standardization. Sure, it could be Progressive. It could be Hanover. No way to tell.

David Your Questions About Automobile Insurance

David asks…

Will a traffic infraction ticket for going too fast on your bicycle affect automobile insurance?

Will a traffic infraction ticket for going too fast on your bicycle affect automobile insurance?

latitude answers:

Nope it does not count as a motor vehicle ticket dont worry about it there was no driversd licens to attach the information too anyway at that time. I got about 15 of them, and then I started spotting the stupid jerk and if he tried to stop me I would jump the center divider on the main street and take off up the traffic wrong way until the city finally disbanded the little turds. We called it the pinto patrol and man I be that one guy would have loved to catch me bet my bike could do things his pinto could not. I used to hop over the railroad tracks too and leave the bone head in all kinds of wierd spots.

Ken Your Questions About Automobile Insurance

Ken asks…

what are the types of automobile insurance in USA ?

I’m doing a research for my course , comparing this service in my country to which in the USA …and more specifically about the private and commercial cars… a claim saying that USA’s provisions are strictly applied ..i.e the son driving his father private car is not entitled to any compensation in case an accident is occurred …..because it’s not the “son” car..(which at the same time is not going the same way here …as long as the car is insured so anyone drive it is insured ..regardless of the owner of the car…and just there it is the debate point…what do you think about it ?
so ,I’ll appreciate if you could feed me with any thoughts any idea any information any links concerning that or even automobile insurance in general…

latitude answers:

First review this posting I made to another question a while back. In it, I listed the different kinds of auto insurance, the importance of getting more than the minimum required by law, and for a new driver the importance of getting it before taking possession of the car. I also talked about new car financing options.

One thing I did not address here, but is important. You need to get some kind of identity theft protection insurance because the act of buying a car, and registering it, are additional ways your records can be exposed to that threat. .

Http://answers.yahoo.com/question/index;_ylt=AvzeSUGRZPc63UvNTBMTtIPty6IX;_ylv=3?qid=20070719151415AA3ACTP

With respect to your specific quesitons, the insurance and fault, lies with a combination of who is driving the car, if they have the permission of the owner, and the owner of the car, and what insurance is on each, and the rules of the state … Different states have different rules. I gave some links in the above answer. You also need to review fault vs. No-fault states and what requirements there are to have proof of protection with you … Some states just require proof, others require you to have the proof with you when you driving.

Suppose you have a family car and a teenager coming of driving age. Your auto insurance needs to spell out whether or not the teenage child is covered. If there is an accident with the child, the insurance company can deny claims on the grounds that you had not been paying the extra money to have the child covered by the policy. It can be very expensive to add a teenage driver to family auto insurance policy, but much more expensive to buy separate policy for the child.

Insurance rates vary with the type of car. There is the perception that kids will drive faster and more dangerously in sporty cars. There are also some brand names more favored by car thieves. This impacts risk and thus insurance rates.

I am an older driver. I have a special discount on my insurance rates by me refusing to let any person below the age of 25 drive my car. This means that when I park my car, I cannot go to those places where they have some valet or mechanic park my car, because I don’t know ages of people employed there.

It is all about risk of auto accident. What you can do to reduce risk gets you lower insurance rates.

What do you mean by commercial cars …. Renta-a-car at airport, have a company where car or pickup truck or van belongs to the company & various employees drive it?

If you plan on driving your personal car to another nation like across the US-Canada border, you should talk with your auto insurance agent first. The risk of having a car stolen is much higher if it is in Canada with US license plates. There’s other adjustments to the risk that you want to review in advance.

You might also ask your personal car auto insurance agent about how that coverage applies to a rental car. For example, I have a high deductable on my personal car to reduce cost of insurance, and I am willing to drive around with a few dents & scratches, but I might not want deductable when using a rental car.

As for a company car driven by employee, you need to ask both your private insurance and the employer about this … For example, I would expect that the ONLY drivers authorized by the insurance on the company car are employees of the company (not their family members or friends) or people at some auto repair place.

If company car gets in an accident, where the driver had permission of the employee of the company, the company insurance is not going to cover that, if the rules of the company and company insurance did not include drivers other than employees.

So the scenario may be legal driver, but the insurance has to be the insurance that is carried by the driver, not by the vehicle.

When you get your driver’s license, you have to show proof that YOU have auto insurance.

When you get your auto registration, you have to show proof that YOUR CAR has auto insurance.

When it is only you driving your own car, then same insurance. When you loan your car to someone else to drive, it gets more complicated, depending on restrictions in your insurance (like mine does not cover driver below age 25), and state law.

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May
16

Your Questions About Buy Repo Cars Cheap

David Your Questions About Buy Repo Cars Cheap

David asks…

How can i avoid a repo? I cant afford the car i have now and they want to take it. What can i do?

Does anyone have insight that they can share?
My payments are $500.00 a month and i have a VW Jetta. I am also a college student so needless to say i cannot afford this any longer. I am upside down on the loan by like 10,000.00 so i really can trade it in again, even if i try and buy a really cheap car. Oh yea and my credit is basically shot too now because of this car. VW calls everyday and harasses me. They have already suggested a “voluntary repo“. But having a repo on My record will ruin me! I am only 21 and i will be 30 by the time i can live again?!
What should i do? Hellllp!
And i already have a job, thanks.
I cant afford $500 a month on top of my other bills.

latitude answers:

Clean out the car and turn it in before they repo, tell them you cannot afford it. DONT WAIT TILL IT GETS REPO’D. That’ll look even worse on ur credit n it will stay with you for years. Turning it in is bad but a repo is worse, either way you cant keep the car unless you pay so yeah bring it back to the dealership.
Good luck.. Dont feel so bad about the debt.. Believe it or not 90% of americans are living with debt ppl as young as you. Especially in todays economy.. Ppl are living pay check to pay check or living off credit cards.

Paul Your Questions About Buy Repo Cars Cheap

Paul asks…

If my car is up for repo, but they don’t get it and I pay them the balance owed later, will they still take it?

I am behind on my car payment, but it was because that car broke down and is locked in my shop all torn apart waiting for repair. With the repairs needed, it was cheaper to just buy a running beater car. My credit is shot anyway, so I don’t really care if this car gets placed up for collection. If I pay the balance owed on the loan, say, a few months from now, they still have to give me the title, right?

latitude answers:

If you pay it off, yeah.

If you pay what you owe, the car is yours. If they do happen to repo it though, you won’t have forever. Sooner or later they’re going to send it to auction. You’ll owe the difference between what it sells for at auction and the balance of the loan. And if it does go to auction, you won’t get it back, no matter what.

Laura Your Questions About Buy Repo Cars Cheap

Laura asks…

Can a creditor seize your bank account and IRS refund for a car repo deficiency judgment in FL? Thank you.?

I had it repossessed by Wells Fargo last week. No job then and now either. IRS returns are due soon, and I will get a refund. Not nearly enough for the balance and tow/storage fees. So will have to let them sell the car. They took the car in the middle of the night, no breach of peace. They sent me a letter notifying of the impending sale, by phone said auction, but letter said private sale. Anyway…. My refund won’t be enough to satisfy the balance either, but will buy me a small, cheap thing. Then I can work and pay the deficiency judgment. Is my IRS refund and bank account safe? I expect a future wage garnishment try. Thank you.

latitude answers:

I’m no expert, just someone who had credit problems in the past. I remember reading that Florida has “special” laws on that kind of stuff, so you may be clear. If it was another state, I would say they could garnish your wages, but I don’t think they can in Florida. A great site I found very helpful was msn money chat. I learned a lot when I was going through tough financial times. Check it out! I’m sorry bout your situation, I’m sure you will see a light soon. Hang in there! Hope this helps. Good Luck.

Sandy Your Questions About Buy Repo Cars Cheap

Sandy asks…

I recently had my car repo’ed.?

So I recently had my car repo‘ed because the lady I had talked to on the phone about my car straight up lied to me. I was behind a payment on my car loan ($214), and it was getting really hard to pay because I had to pay bi-weekly and I was really ripped off becuse I was paying $365 a month for a 2003 Dodge Neon. Anyways, she said that when a loan is 28 days late, then they come to repo the car. And I basically asked her what it would take to not repo it. This was last Tuesday when I had talked to her. I owed $214 plus another 182 to bring me current. I asked her if I made my car payment (182) plus $100 on the 3rd if they would not repo it and then I would just pay the remaining $100 or so the following week. She said if I paid $182 plus $114, then they would more than likely accept that. So I said, okay. So I figured everything would be fine and dandy. I got a letter on Saturday stating that if I didn’t bring my account current they would terminate my loan, sue me or a combination. I figured it was just a standard letter since I had spoke to her the same day the letter was printed off.

Well, I leave to go pay my car payment on Tuesday and my car is gone! She straight up lied to me! So I go in there and talk to her about it and she said that she told me that I had to bring my account current before the 31st because they couldn’t allow a deliquent account to carry over into the next month. Which, my step dad was sitting RIGHT there when I asked her, because he told me to ask her if they’d accept $100 on top of my regular car payment. She wouldn’t even accept the payment I was going to bring her. She said I would have to pay $396.50 plus the $100 repo fee. And if I don’t pay that in 10 days, then they sell my car to an auction and if the price sold at the auction doesn’t cover the amount of my loan (6600), they’re going to sue me for the rest (yeah, good luck with that. I’m a recent college grad. I don’t have ANYTHING. That car was my only posession).

Anyways, I desperately need a car. My credit isn’t absolutely horrendous. What are the chances of me being able to go to another buy here/pay here place, explain to them my situation and try to get another car that is cheap? I just need a car to get me around. I mean, I held up my end up the bargain, Auto Credit USA did not do the same. Its not like I was refusing to give them money. I tried to go in there and pay them, and she said it was out of her hands now.

There’s still a small chance my dad might be able to come through and help me get my car out of repo so I can at least have a car to use as a trade in and get a different car and get out of that loan. I don’t want to be a customer of a company that’s going to lie to me.
I was going to be in management when I bought the car, plus I had no credit at the time and didn’t have a co-signer, so I kind of had no choice in the matter.
Also, I couldn’t pay the bill because I was going to school full time and was only working part time and then my hours at work got cut from 35 to 10. Shit happens. Life happens. The economy is in the shitter right now. I didnt pay it because I didn’t want to. There was nothing I could do. My hands were tied. My parents were paying my car for me and they could only do so much.
When I say I held up my end of the bargain.. I mean that me and the lady agreed that I would pay 182 plus 114 on the 3rd and she said that was fine. But she totally went against her word.

latitude answers:

You should be able to get another car from a different place just fine.

If you do get your car back, and you end up trading it in before you loan in paid off, BE CAREFUL, make sure your dad is with you and you understand all the paperwork, because I tried that with my Jeep, Had about 9 more months left on my current loan, and I went to a place that will pay your existing loan off, and give you a trade in value, Well all they did was give my like $3500 for my Jeep, tacked that onto a newly drawn up lease, to make my total $9900, and gave me a credit for $36.00. So basicly I was only getting 36 dollars on a trade in and they tacked the amount they paid on my Jeep onto the car I was looking at buying. I still have my Jeep to this day.

So be very careful when dealing with Buy Here/ Pay Here.

George Your Questions About Buy Repo Cars Cheap

George asks…

NEED LEGAL ADVICE ON EX BOYFRIEND TAKING MY SOON TO BE REPO’D CAR?

MY RECENT EX BOYFRIEND IS MOVING BACK TO THE STATE I MET HIM IN. HE HASN’T BEEN ABLE TO BUY A CAR IN MY STATE BECAUSE OF LACK OF EMPLOYMENT. HE HAS BEEN LOOKING FOR MONTHS. HAS OPPORTUNITIES IN THE STATE WHERE I MET HIM, AND SEEMED TO LIKE IT THERE MORE. SO HE WILL BE MOVING BACK. I AM GETTING READY TO FILE BANKRUPTCY WITH MY EX HUSBAND. “DON’T JUDGE ME” I WORK HARD, JUST ROUGH TIMES. I AM HAVING TO LET MY CAR GO BACK, AND BUY SOMETHING MUCH CHEAPER. MY QUESTION IS WHAT KIND OF LEGAL AGREEMENT SHOULD I HAVE WITH MY NOW EX BOYFRIEND, IN ORDER TO ALLOW HIM TO TAKE MY CAR, BEFORE THE RE-PO. THEY RE-PO IN EVERY STATE. HE COULD GET THERE. AND WHEN ITS TIME FOR THE CAR TO GO. I CAN PROVIDE THEM WITH THE ADDRESS AT WHICH HE WOULD BE LIVING. WE HAVE CONSIDERED AND AGREEMENT STATING IF THE CAR IS NOT READILY AVAILABLE I WILL REPORT IT STOLEN. WOULD THAT WORK? I DON’T WANT TO GET IN ANY TROUBLE, NOR DO I WANT TO GET HIM IN ANY TROUBLE. I JUST WANT TO MAKE THE CAR GOES BACK TO THE COMPANY AS IT IS RIGHT NOW. THE CAR WILL BE GOING IN THE BANKRUPTCY AS WELL..

latitude answers:

First of all, quit typing in all caps, it’s very hard to read and is considered rude.

You can’t make any legal agreement with your bf to allow him to take your car if it’s about to repossessed; you can give him permission to drive it, but if you then report it stolen when you know perfectly well where it is and that you gave him permission to have it, you could be arrested for fraud. If you let him ‘borrow’ the car and he doesn’t return it, you can report it stolen, but you must tell the police you lent it to the boyfriend, and he can get arrested for it–it’s called extortion.

You’re better off not letting the bf anywhere near the car if it’s about to be re-possessed. It’s just saves you a lot of bother and keeps the risks to a minimum.

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May
16

Your Questions About Buy Repo Cars From Banks

Lizzie Your Questions About Buy Repo Cars From Banks

Lizzie asks…

What steps do you take to get rid of a car that has a lien on the tittle?

I bought a car from a dealership that sells repo cars for banks. I have had problems with it ever since i bought it. What are the steps i need to take to get rid of it? I don’t wanna keep paying payments on a car that isn’t reliable at all. How will it effect my credit?

latitude answers:

Pay it off than trade it in

Carol Your Questions About Buy Repo Cars From Banks

Carol asks…

Car Repo by my bank from the dealership where I traded it because the dealership did not pay them?

I have bought several cars from a dealership and on my last purchase, I traded in my vehicle that I still had loan amount of $15K remaining. Dealership valued my car at $13K. On the new loan I added this extra $2k. 1st loan was with Central National Bank and the new loan was with US Bank. Some how at the exact same time the dealership ended up filling for bankruptcy and did not pay my 1st bank. Bank repoed my original vehicle from the dealership and sold it and sent me a bill for little over $2K for the remainder of the balance. Can anyone help by telling me what my options are? One more note to this is that Car Dealership’s account is also with Central National Bank.
Everyone – thank you very much for all of your responses … looks like its time to contact a good lawyer. I do have all the paperwork to show the deal was completed. once again thank you all.

latitude answers:

Ouch!! What a pain in the ass for you!!

All I can say is contact a lawyer and fast! You may want to contact a bankruptcy lawyer as well, as they would know all about the credit laws and how to best protect yourself while dealing with this. It looks like you have both the original bank, and the dealership that is coming after you for money (or will be very quickly) so you’ll want to know how to best deal with this until you can get everything cleared up.

I don’t know if a credit/bankcruptcy lawyer would also be able to go after the dealership, or help you with the original issue. I wouldn’t even know how to start dealing with that. I suppose calling the bank and seeing what info they need to prove you don’t owe the money… Either way they want their money and they will go after whoever they can, so a lawyer should be able to help you best with that, I personally wouldn’t go it alone.

Mandy Your Questions About Buy Repo Cars From Banks

Mandy asks…

Repo my car even though my contract states another bank?

I am probably a month behind on my payments b/c they cut my hours at work. Well i just got a letter from my finance co., the letter says that under the terms of the contract i signed on the day i bought my car that they are going to Repo my car. My contract says the name of a different bank, so can they legally repo car?

latitude answers:

Whatever bank currently owns the loan and holds the title can repo the car. But by doing so, they’ll probably be losing money. So usually they would give you more than a month. Call them up, tell them that your pay has been cut, and ask what you can do to avoid repo. They might be willing to accept lower payments for a while.

Nancy Your Questions About Buy Repo Cars From Banks

Nancy asks…

is it possible for a bank to buy a vehicle back?

I have a car that I bought from a dealership and am wondering if I can get the bank to buy the car back and negate the loan. this as an alternative to a voluntary repo.

latitude answers:

No…a bank won’t buy the car from itself, since it already owns the car.
What you are describing is exactly the definition of a voluntary repo.

Try to avoid this at all costs, if possible. Many people don’t realize that just because you voluntarily give up your car doesn’t mean you are done paying.
The bank will sell your car at auction and you will still owe the difference between your loan amount and the amount it sold for at auction. In addition, they will likely tack on admin fees, storage fees, etc.

James Your Questions About Buy Repo Cars From Banks

James asks…

Is it possible for the bank to repo the car if the registered owner is not the driver.?

Car is registered under my mom’s name. I can’t get a car because my credit hasn’t been build up yet. Then the bank (US Bank) found out the I am the one who is using the car not my mom. They said my mom broke the agreement(which we never heard of when we bought it from the dealership) and because she’s letting the car be driven by her son, they are going to repo the car. Can a lawyer help me on this?

latitude answers:

You don’t need an attorney. As long as mom is making the payments on time, and has full coverage insurance on the car, and has you named as driver on the insurance, they won’t be able to repossess the car. She can allow anyone she wants to drive the car.

I very much doubt she signed an agreement that she wouldn’t allow anyone else to use the car.

Have mom tell the bank to either show her where the agreement is broken, or back off.

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May
16

Your Questions About How To Buy Impounded Cars

William Your Questions About How To Buy Impounded Cars

William asks…

Failed to yield and misuse of dealer plates ticket, how much will it cost?

My boyfriend got a ticket for failing to yield and misuse of dealer plates. He already has a lot of things to pay and we were just wondering how much will the ticket cost? Is there a website that tells you? I was trying to look for it.

For anyone that doesn’t know why he got a ticket for misuse of dealer plates its because when he bought the car from a private dealer, he said he can keep the plates until he paid the registration, he hasn’t paid it yet since he didnt expect it to be like 400 dollars. Fortunately the cop let him go on that and didn’t impound his car at that moment and said it’s not his fault because the dealer screwed him over or something like that…

So my question is, how much will the ticket cost in total? For misuse of dealer plates and failing to yield in Orange County.

Thank you
My boyfriend called me at the time he got the ticket, well after i think, he said something about going to court pleading guilty, his only concern was how much it was gonna cost him. i guess he’s gonna have to call the number, he just wanted me to find out because he was going to a meeting.
i mean pleading NOT guilty

latitude answers:

You can call the number on the ticket, which will be the court house and give them his name. They should be able to tell you how much it is, unless he pleas not guilty. In that case he will have to go in front of a judge and it will be up to the judge how much it is.

David Your Questions About How To Buy Impounded Cars

David asks…

have you ever purchased a car from the police impound lot and how did you go about?

doing that? Is there a list of cars you can get? Did you bring your mechanic to check out the car you wanted? Did you ask why that car was impounded and if the car has been cleaned since it’s impound? How much did you pay for the car and was it a lot cheaper than you’d buy elsewhere? Did they require a specific downpayment? Did you have to buy it outright with cash or would they accept a loan company’s payment? Just how do you do that? Was it a good working car and how long did it last?

latitude answers:

The overwhelming majority don’t run or are wrecked. There might be a half dozen cars that run out of hundreds. Many they dont even have keys to.

The reason they were impounded is because people didnt want them or didnt think they were worth paying the towing & storage fees.

Nancy Your Questions About How To Buy Impounded Cars

Nancy asks…

i need help with information about car ownership!!?

my husband bought this car without a title from a man who took the car out of the police impound. they told my husband he could get a mechanics lean on it because it was impounded and the original owner didn’t want to take the car out. the title is lost and the previous owner wants to now take it after we put all this money into it, what should we do? is this legal? how can we avoid any confrontation?! the previous owner says now that the car belonged to another owner who had it from a dealership and supposedly owes 4 grand on it. but this guy switches up his stories all the time. we never knew it had a owner from a dealership. we only knew of one owner who is the guy who’s trying to take our car now. we are very distraught about this. anything would help.

latitude answers:

“my husband bought this car without a title…”

Nope, sorry, since vehicles are transferred from one owner to another via the title, if your husband didn’t get a title, he did not buy a car. Is your husband the mechanic? If not, he can’t get any lien on it.

He needs to return it and get his money back. And then he needs to remember to never give anyone his cash for a car without getting a signed title.

George Your Questions About How To Buy Impounded Cars

George asks…

Can I transfer title of my car if Dad got third DUI three years ago?

My father’s name is on the title of my car, due to a mix-up when we bought the car. We were going to transfer the title, but before we did my dad got a DUI, his third in less than ten years. According to Minnesota (where I’m from) law, “A registered owner may not sell a motor vehicle during the time
its registration plates have been ordered surrendered or during the time its registration plates bear a special series number, unless the registered owner applies to the court that impounded the plates, for consent to transfer title to the motor vehicle.”

My dad recently filed for bankruptcy and though we get to keep the car, the plates have been impounded and I had to get my own car insurance. I would really like to be able to get the car into my name so I don’t have to have my dad drive 7 hours to my school to get new plates. My dad says we STILL can’t transfer the title because of his DUI, but that seems a little strange since it’s been 3 years. Does anyone know if/how we can transfer the title of my car to my name without going to court?

latitude answers:

Call the DMV & ask them. Sounds like you may need court approval though.

“unless the registered owner applies to the court that impounded the plates, for consent”

It doesnt say unless its been more than 3 years.

Susan Your Questions About How To Buy Impounded Cars

Susan asks…

How to obtain a care title for a 1996 audi a4?

I have a audi a4 that i bought with no title from an impound yard. it had police release but no title. knowing i may not be able to obtain a title in order to register i didnt pay much. is there anyway i would be able to buy a title for this car

latitude answers:

You’ll likely have to go to the DMV and ask for a “reconstructed” title or something similar.

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May
16

Your Questions About Hydrogen Cars For Sale

Donald Your Questions About Hydrogen Cars For Sale

Donald asks…

OK cars running off of water.?

I heard about this on the internet and come to find out you can actually buy a kit to convert any car or diesel except hybrids to run off of water. Now my question is, is it safe and reliable I went to cheverolet.com and went to the bottom to the search box and typed in hydrogen cars and thats where I learned it. The website I found that sold the kit said it was safe didn’t affect the warranty on the car and it gave a warranty for the kit. it was only for 56 days though. I’m wanting to know if anyone has tried it yet or if they know anyone who has. The website sold this kit for about $150 and said that other kits sale for about a $1000. Hell I don’t care about the price if this does work I’ll get it back in the long run. So let me know what yall think about it and if there is any other websites that will clear this up for me.

latitude answers:

You have to break the water down into hydrogen and oxygen first and it would take more power than you can carry to do that, then there is the problem of storing the hydrogen.

They have Hydrogen buses running in Iceland, but it’s very costly..

I think it’s a scam and you will lose your money…

William Your Questions About Hydrogen Cars For Sale

William asks…

What is the changing price of gas going to do the Cost to Own of Hybrids?

I’m looking to buy a car here and was doing the research. The Cost to Own of Hybrids was consistently more than similar (or same) model non-Hybrids. The only advantages Hybrids have is with the fuel costs over the life of the car, and the Hybrid tax credit. But, they’re at a disadvantage with almost everything else. And, they’re killed by the depreciation, due it seems to the high invoice price. (O.K. I think I just unintentionally made a really good argument for buying Hybrids Used.)

But, just to compare the two cars I’m liking, the Honda Civic super-basic trim has a CtO of $24,200 and the Honda Civic Hybrid $26,900. And, the Civic Hybrid is actually way more affordable and closer to the CtO of its non-Hybrid sister model than the other Hybrids I’ve been looking at.

Here’s what I’m thinking. The projected Cost to Own is based on a few guesses, like how much mileage you’re likely to have, and the price of gas pretty much staying where it is.

Now I don’t want to read doomsday predictions about how we’re going to go all Mad Max. I don’t. But, it’s natural to suppose the trend of gas prices going up is going to continue.

I mean the reason it happened in the first place is because people in developing countries have been buying cars, so the demand for gas has gone up. These countries aren’t done developing. Or, to put it another way, there’s alot of people in the world who haven’t bought a car yet.

Back to the Civic I figure with the differences in CtOs not including the cost of gas ($4,300), the cost of gas would pretty much have to double ($4,300/($8,600-$6,200)=~1.8). And, that’s pretty much just for the Honda Civic. I’m having a real hard time imagining a horrible nightmare scenario where the Ford Fusion Hybrid New would be a better buy than the Ford Fusion New.

I guess I’ve pretty much already answered my own question. But, I have another scenario for all of you. If someone starts mass producing Hydrogen Fuel Cell cars for mass sales, what’s that going to do to the price of gas? I’d expect it to go down partly because the demand for gas would be stemmed somewhat, but mostly just because the gas companies would want to incentivise their consumers keeping combustion cars.

I guess the big question there is, how likely is that to happen in the next 5 years? Or however long? Isn’t it odd how these “alternative” cars have the potential to sabotage each other?

And, how competitive is hydrogen with gas as a fuel? Obviously, there’s the old issue that hydrogen would have to build their distribution from the ground up. But, once that’s done, how much would a mile fueled by gas cost vs. a mile fueled by hydrogen?

Gas comes out of the ground with it’s energy already in it. Petroleum pumps try to be (and are) highly energy efficient. But, pumping a liquid out of minerals… Well, isn’t that like squeezing blood from a stone?

Hydrogen you have to use up energy to electrolyze it or refine it from fossil fuels. I’m not bothered so much by the greenhouse implications. From an engineering standpoint it’s an energy storage device. What’s the cost? Electricity is cheap. Right?

Then there’s the comparative fuel economies of fuel cell and combustion cars. Hydrogen is more energy intensive than gas. A full tank is lighter. The lightening of the cars load would give it a slight advantage in fuel economy. Wouldn’t it? (Get the image of hydrogen making balloon floaty cars out of your head please. It so doesn’t work that way.) Also, since the internal drag is on a much shorter drive train, wouldn’t that give Hydrogen Fuel Cell cars a tremendous advantage in fuel economy?
So an swers, are you saying that if I asked these other questions separately you WOULD answer them? Besides I’m dubious of that on it’s own, it kind of sounds like Y!A points farming to me, at a cost to me!

Beyond that it’s occurred to me you don’t have to double the price of gas. For vocations that involve alot of driving you could easily more than double the mileage and the fuel consumption. Like I imagine Taxi companies, if they’re not using Hybrids are pretty much losing money.
From the National Hydrogen Association: “The estimated costs for producing and delivering hydrogen to the
fueling station using today’s technologies vary from $2.10/gallon of gasoline equivalent (gge) to $9.10/gge. These hydrogen costs do not include highway taxes and do include the increased fuel efficiency of fuel cell vehicles compared to gasoline-powered hybrid electric vehicles.” So best case scenario hydrogen is just competitive with gas.
An swers, sorry you did write that mileage can make a Hybrid worthwhile first. But, I still don’t like the other thing you wrote, if only because that means flooding the latest question pages with spam questions. There’s enough inane crap on here as it is.

On the other side of things, saying hydrogen as a fuel isn’t going to happen in a big way tomorrow is not the same as saying it’s never going to happen. The price of gas will go up, not least of all because people consider it to be an essential consumable. People don’t just use less simply because demand outstrips supply, so the price has to go way up to be prohibitive. Next we’d need to see a big drop in the price of electricity. Maybe when they mine the moon for tritium for fusion power, though the new fusion powerplants and the power infrastructure will still cost money on top of the price tag of a commercial lunar space program. I think the big energy conglomerates like GE can afford to do it easy. But…
I’ve never been a big fan of electric cars. I don’t think the oil companies are trying to keep them buried because they threaten their monopoly. I just don’t think they’ve ever really been any good. Granted tremendous advances in battery technology have given them a huge step forward. But, even with that and regenerative braking (an old technology which has gained new interest) electric cars‘ ranges just aren’t very good. I know that sound like a strawman attack, like the old one that electric cars can’t make it up hills. But, it’s true. At the least, going on a roadtrip in an electric car is out of the question. It doesn’t help there the batteries are pretty dang heavy. But again the weight is less important than internal drag on the drive train, as well as regenerative braking. (Batteries are also expensive, but not more so than engine blocks and full drive trains, and definitely not more than hydrogen tanks and fuel cells.)

latitude answers:

Either car is a great choice. Nobody is going to be mass producing hydrogen fuel cell cars in the next 5 years. They can’t get an affordable fuel tank.

Good Luck!

Susan Your Questions About Hydrogen Cars For Sale

Susan asks…

Compact fluorescent light bulbs (CFLs) and Hybrid/electric cars. Is it all a green lie?

We’ll eventually be disposing billions and billions of CFL mercury bombs. Much of the mercury from discarded and/or broken CFLs is bound to make its way into the environment get people and animals sick, and give rise to Superfund liability, which in the past has needlessly disrupted many lives, cost tens of billions of dollars and sent many businesses into bankruptcy.

Electric and Hybrid cars = Battery pollution (millions of acid base and harmful chemicals that are NOT recyclable) .

The government makes it sound as if they cared about the environment but it is all a big green lie to get our votes.
In Quebec (Canada), they want us to use CFLs so they can save energy and presumably produce less green house gases. What green house gases? We produce hydroelectric electricity. We produce one of the largest quantities of hydro-electric power in the world (No green house emissions) and we have enough to use and also sell to New-York state and Ontario. I guess they want to sell more and make more profit.
If they really wanted cleaner cars, they should go for Hydrogen combustion engine cars.
They have 0 emissions and no batteries to throw out.
But I guess they would loose lots of money if everyone uses water to run their cars.
The world economy is based on oil consumption and they want us to consume something. They are simply trying to replace the sale of oil with something else (selling batteries and other fuels) and maximize their profits.
There are far less cole factories than in the 30s and 50s therefore less harmful chemicals in the air. Needless to remind you that we all exhale CO2 emissions. This wouldn’t be a problem if they stopped cutting down forests. The trees can take care of the CO2, that is what they do.
One more thing CFLs are made from plastic (Oil based product) and also contain electronic circuits (led). If people start throwing them out just like they do with other electronic products, we are all in deep Sh_t. Regular light balbs are completely biodegradable and if used wisely with dimmers they are a better choice.
Hydrogen fueled car is very much feasible. BMW came out with one and the Hydrogen is produced by solar power: http://www.bmwworld.com/hydrogen/

latitude answers:

Some good points made in previous posts, but all and all I agree on both of your parts.

I think as a whole CFL’s are better for the environment, as they can be recycled if people would get off their lazy bums and drive them to the centers. Coal fired power plants are indeed the largest cause of Mercury pollution, hence the reason that it’s an awful source of energy (even the supposed “clean-fire” plants.

As for the hybrid batteries, they can be recycled. Except for the fact that the cost of recycling the batteries is far greater than the cost of producing a new one, hence the reason they will still be disposed of. Have hope for your Hydrogen car though my friend, as BMW is releasing a hydrogen powered car in the States in ’08.

In regards to Superfund, it might be the worst regulation for the environment. When these companies go bankrupt, that leaves the Taxpayers environmentally allocated money to pay for the clean-ups. More often the not, the site must be made cleaner than it was before the business came to the area, and sometimes even before man came to this continent. Remember the Superfund slogan: 90% of all costs are spent cleaning up the last 5%.

While others can complain about your rantings, I am glad to see that you have taken a look at the green alternatives and came to the conclusion every knowledgeable environmental decision maker faces: There are trade offs in everything, and benefitting the environment in one way might cause more harm in another. That being said, I think we can all agree we are on a path to more earth-friendly technology, and that path involves honest and painful truths.

Sandy Your Questions About Hydrogen Cars For Sale

Sandy asks…

Why can’t you buy do it yourself H2O conversion kits for your cars?

There’s thousands of people all over the internet and you tube showing how they converted their own cars to run on water, and I’m not talking about hydrogen fuel cells. Why aren’t there do it yourself kits for sale on every corner?

latitude answers:

Because these things are a fraud. Not everything you see on the Internet is real.

Carol Your Questions About Hydrogen Cars For Sale

Carol asks…

What do you think about this?

With oil prices continually on the rise,and patents for new energy technology mysteriously dying,do you think that there is a conspiricy? There is so many patents for hydrogen technology that actually work but,yet we are paying over or close to $4 a gallon. Stanley Meyer had perfected the hydrogen cell and refused a several billion dollar pay off to keep quiet from the middle east. It wasnt long after that he ended up dead but,since then there is all kinds of videos showing people how to make there own cells that actually work. With this technology staring us in the face, proving that it is not expensive to produce, why is it that auto manufacturers are dragging there feet with the bs excuse saying that it is too expensive to manufacture? Are they being paid off too? Maybe allot of people within our own government is taking pay offs as well? If you was an oil exporter from the middle east and you knew that technology in the US was getting ready to produce and manufacture a hydrogen car that would massively affect your oil sales and proffit, wouldnt you be scared? Lets see??? Who within our own government has allot of investment in foreign oil & local??? Ask yourself who you are voting for when you think about this!!! Are you voting for a 2 faced sell out to his country? Or will you vote for someone that is not connected with oil at all. Both parties are guilty of lining there own pockets but, with the war continuing on and technology being ignored,how heavy do you think their pockets are getting by now? If we start with technolgy that has been ignored, not only can we save the economy but, stop making the countries more rich that hate us that secretly fund terrorist organizations in the first place.

latitude answers:

Let’s start with Stanley Meyers hydrogen cell, and let’s forget about that little old fraud conviction, or the fact he was sued by his investors and lost or that when his invention was taken apart it was found to be nothing more then a Brown’s gas generator and not even a good one. A quick search reveals all his patents, which have expired and are FREE to use. So big oil, big government and the auto companied didn’t do a very good job of kill it did they?

There are TONS of inventions out there, that claim 100 to 200 mpg, there is a guy that is selling the patents on cd for I think 19.95 that has 1000’s of invention on it, all FREE to use.

HHO or hydrogen boosters are con, and yes I can prove it.

“If you was an oil exporter from the middle east…”

No I wouldn’t be scared I know the most of the junk out there doesn’t work and the stuff the does work is more expensive the oil.

“Who within our own government has allot of investment in foreign oil & local….”

If you have a 401k or other type of retirement investments you probably have a lot more oil stock than you realize.

But I hate to tell you this but every time, and I mean every time I heard about somebody’s patent being suppressed, I was able to find it doing a simple patent search, there is no conspiracy to suppress the inventions, you don’t see them because they don’t work or are more expensive than oil.

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May
15

Your Questions About How To Buy Cars At Auction Prices

Thomas Your Questions About How To Buy Cars At Auction Prices

Thomas asks…

How do I get my money from the guy I sold the car to.?

I bought a car from a friend with an expired registration. I resold the car to someone else without registering the car under my name. The guy I sold it to got into an accident on the freeway and abandoned the car. The tow company sent a notice to me and the previous owner notifying us the car had been impounded. 2 months later I got a letter in the mail from a collection agency that said I have to pay $1895 because the price the car was sold at auction did not cover the towing and storage costs. They told me I have 30 days to pay or else they will report it to the credit bureau. So I paid. My question is how do I get my money from the guy I sold the car to.
I have never bought a car from an individual so I didn’t know the protocol. It’s no excuse, but when my friend sold me the car (my old roomate) he filled out the stub on the pink slip that said he was selling the car to me. I assumed that is all it took to have the car under my name and that I would get the new pink slip under my name in the mail. Obviously that never came but at the time I didn’t think much of it. I did get a bill of sale and a drivers license from the guy who bought the car. Even though I argued with the collection agency they said technically, because my friend turned in the portion of the pink slip that named me as the buyer, the car is my responsibility because the person I sold it to never registered the vehicle. What would be a good way to coax him into paying me back without threatening court? Also what is the best way to tell the judge I was an idiot to not register the vehicle but still have him rule in my favor? Any suggestions?

latitude answers:

Opps…

You may be out of luck.

Courts typically don’t reward others, when others do not conform to the duties under the law.

You failed to record the sale, you broke the law!

But, for the filing fee in a small claims court, $100.00 (?) it might be worth your while to stand before a judge and let him rule, you might get lucky. But only if you have a signed document showing that this individual bought the car from you

Ruth Your Questions About How To Buy Cars At Auction Prices

Ruth asks…

What are some things to bring up when negotiating for a car?

how should I negotiate for a car? should I buy at kelly blue book value? I know that the invoice of the car is NOT the real price they pay for the car since they get so many of them…the used cars they have are bought at the auction and considering how long they been on there lot…what else should I mention so they go lower? there basically trying to say if they sell it at invoice there not making money! bullshit! they put it cheaper than that! they buy so many of them…they get a alot better deal

latitude answers:

I can help you with this. The Kelly Blue Book value is a rough approximation of what you should be paying for a vehicle. If you can get it at the Private Party price, then you know you are getting a good deal. Keep this in mind: the manufacturers of vehicles do not give dealers volume discounts, as you believe, but there ARE times (and, sincerely, not always) where you can purchase a vehicle at less than invoice. These times are when the vehicle model is enjoying an incentive from the manufacturer. Other than those times, the price paid by the dealer is the invoice price you can find at the dealer or online. Everything between that price and the MSRP is the store’s profit (Also keep THIS in mind: this is NOT your salesperson’s profit! The usual commission structure for salespeople is:

The total profit over invoice or the lower incentivized invoice
MINUS $400,
and then divided by 1/4.

Meaning, if you purchase a vehicle for $1000 over the invoice/adjusted invoice price, your salesperson will take home $150 for his/her work (before tax). If you have spent some time with this person and they have been helpful, they are entitled to compensation for their time and professional help. If you are purchasing from a high-volume dealer (Toyota, Honda, domestics, etc.) $150 is fair compensation for your salesperson. If you are purchasing from a highline store or a Hummer store with much less volume, they are entitled to more than that.

So, for the negotiation process, let them know that you understand that they need to get paid for their daily job, just llike you do, and that you don’t intend to overlook that, but that you do want the deal that is good enough for you to refer your friends back to work with them, and to return yourself. That mutual respect is the best way to let your salesperson work for you, instead of against you. Because both folks want to make the transaction as easily as possible. If you make it hard, you will get treated hard, because you are asking them to work harder to make less money, and that establishes you as a difficult Customer that will not enjoy the consideration you want when you are trying to establish your final sales price.

If there is a volume push at the dealership (i.e. If your salesperson is in need of hitting a goal number of units sold in a certain period of time to receive some level of bonus or reward) you have a great way to help them and yourself. Specifically, you can let them know that you want to help them with their monthly number, and you know that they will be willing to be agreeable in getting you this fair price I mentioned above more easily. You should be very happy that this person is intent on working towards a financial reward at these times that comes from his/her dealership, NOT from the commission he makes from YOUR transaction.

So, first do your research online at Edmunds.com or Kelly Blue Book and find out the price of the vehicle with the exact options your new car has on it, AND the invoice price.

Next, look on these sites to the “”Rebates and Incentives” link to determine if the specific model you are buying has any incentives. If so, make sure your new car’s model AND you, qualifies for it (i.e. If you do not own a Pontiac, you do not qualify for “Pontiac Owner Loyalty” incentives). When you find the incentives, subtract that number from you invoice price you found. That is the lowest price that vehicle can be sold at if the dealership wanted to make $0 on the transaction.

Again, remember, dealerships are businesses just like every other. No one deserves to purchase a vehicle at that $0 profit price because there is simply no benefit in helping you. Be the one they WANT to help and they will.

You don’t need to be secretive in what you know from looking at these sites online. Bring the page right in with you and both you and the salesperson lay it out on the desk and show the invoice, minus the available incentives. It would be silly for a salesperson to think that everyone doesn’t have access to this information. If they are a high-volume store, tell them you want to pay $1000 over that price, and if they are a highline store, tell them you want to pay $2000 over that. (Yes, that’s extremely fair, in YOUR favor, and they will be giving away more than that of their money to get you to that point. If you think that’s unfair for a highline vehicle, your budget may dictate that you not be shopping for something of that level.)

Exceptions: if the vehicle is highly sought after and in very limited demand or rare, you should expect to pay the list price or just under. There are people that will come in the next day and pay what it’s worth for it, so if you really want something that is very exclusive, pay the list price, but no more. Many dealerships will actually mark these vehicles up HIGHER than the list price because it is simply what the market for such a prized item will bear. If you get the list price on this vehicle, you have won…AND you get the vehicle no one else can get!

I work with Customers throughout the country in transactions like this every day. They ALWAYS return and they ALWAYS send their friends/family to me, no mater where they live, because it is simply a breath of fresh air for both you and the salesperson to work like this. No one likes to deal for cars, and this is because of everyone’s worst fear: that they will get home and find out your neighbor paid less for theirs. The more educated my Customers are and the more fully-disclosed the figures are, the more seamless the transaction and the more they will look forward to your business again. With this approach, even though the dealers do NOT get a volume discount, each time you return to the same salesperson for your cars, the more YOU will!

I would love to see more people have an easier time with their car shopping. It is a retail purchase and should be as easy as any other. I would also love to see less people being “taken” by their salespeople when all that Customer wants/needs is a vehicle for themselves…not a headache. That should not make the Customers the enemy.

If you have problems or questions, email me at rye06224@sbcglobal.net.

John Your Questions About How To Buy Cars At Auction Prices

John asks…

Want to buy a car, but it has frame damage reported?

I found the right car for the right price. Everything was a go. Ran the title history and everything looked good there, but there was a reported accident and frame damage. The small dealership that’s selling it must have bought it at auction and I guess then repaired it? He not only didn’t disclose the damage, but lied about it and said it has a clean history when I asked for a title history. So I’m planning to ask if I can take it to a trusted mechanic at my expense and have him check it out. If he gives it the ok, saying it was repaired correctly and well, and that it’s all in alignment, then I’m fine with buying it still, however because of this mans disloyalty and the damage the car has (body looks great except for a scrape down the side) sustained, I plan to offer him less. Question is, how much less do I offer? It’s a 2000 Chrysler Town and Country Lxi. What other things should I have the mechanic check out? I plan to have him look at the ac to make sure the dealer didn’t just charge it up or something to make it seem good, and do just a basic oil check and all. what else?

latitude answers:

Be advised cars sometimes get auctioned off it may have had some damage, not necessarily frame amage, and as far as people lying they may never have checked any car fax or anything else and some auction houses classify cars with frame damage, even when there was none, so in all likely hood, your mechanic may find NONE. As for disloyalty, to you, look up the word, at this point you cant even prove dishonest yet, car fax has been proven unreliable anyone who takes it for the gospel truth is doing thierself a diservice. Take the car to a mechanic, there is a good chance it does not have frame damage at all.

George Your Questions About How To Buy Cars At Auction Prices

George asks…

Please help! How do i solve this Percentage problem?

An internet auction site has two identical cars for sale. Both cars are priced at £10,000. The price of the car is to be reduced each week until they are sold. The first car is to be reduced by 10% abd the second car by £800. Asuming that no-one buys the cars how many weeks will the second car be cheaper than the first?

latitude answers:

1st week, car1: 9000 car2: 9200
2nd week, car1:8100 car2: 8400
3rd week, car1:7290 car2: 7600
4th week, car1:6561 car2: 6800
5th week, car1:5904.9 car2: 6000
6th week, car2:5314.41 car2: 5200

Car2 becomes cheaper in the 6th week.

Paul Your Questions About How To Buy Cars At Auction Prices

Paul asks…

How do I get out of this auto scam, please help (a little long)?

Basically my car broke down in February, I needed a new car, so through a network of work friends, I met this guy that could get me auctioned cars. Turns out his father owned a Chevy dealership and he took me there to see his father and they both seemed nice, friendly and willing to help me get a car within my budget.

The son told me he could go to the auction get a car at auction price (certified and tested) but the auction wanted a $500 deposit which I gave to him but under the condition that I go with him to the auction. So we went however I wasn’t allowed in. He went in, put the deposit down for a future shipment of which he told me afterwords wasn’t refundable when I said to forget about it. He said not to worry a future shipment would be coming, a week later after he took $1500 from me in total
he took all my money and bought a 1990 Honda Civic RUSTED completely without me agreeing to it.

I didn’t want the car and knew it probably wasn’t purchased for $1500 and told him to give my money back, he wouldn’t so I after avoiding me for a week and a half I went to his father’s house.
His mother was angry and wanted to call the cops but the father said we would sort it out. They called him and he picked up but refused to come to his parents house to settle this. We met later in the evening and he seemed sincere that he wanted to help and that he was just busy. He said he would resell the car and give the money back or help repurchase another car.

A week later I got a car list from him and after back and forth talk over the next few days I put more money down so I could have more options with cars. I gave him $3600 in total.

So, ever week he promised a shipment of cars would arrive at his dads dealership, every week there was some excuse. Then he wouldn’t pick up for a week, and when he did he would pass me off to his dad, who at this point became completely nonchalant and told us to deal with his son.

I asked for my money back, we got into arguments, he promised by a certain date that he would get a car. This went on for two months of him not picking up, apologizing, wanting my money back, his bank account wouldn’t work, he couldn’t email transfer, then he’d promise a car, his dad would pass us off to him again. This cycle went on for two months maybe 6 or 7 times.

Now he’s changed his number, his dad doesn’t want to help us anymore and I need some advice on what to do. I’ve thought about calling the cops, but the only evidence I have of this transaction is through my text messages which I’ve never deleted, and a few from facebook.

I found out later that he had taken his fathers auction license and this is probably illegal. I know he doesn’t have my money after he said it was at his father’s house, I show up and in an envelope there is only $700 left. His dad didn’t give a crap. Then he changed his number a couple days ago.

WHAT SHOULD I DO?

I live in Toronto Canada and don’t know much about this stuff, clearly icon sad Your Questions About How To Buy Cars At Auction Prices

latitude answers:

Just keep giving them more money I guess. Its worked for you so far.

LOL

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May
15

Your Questions About Buy Repossessed Cars

Robert Your Questions About Buy Repossessed Cars

Robert asks…

I’m a Taurus and just got married to another Taurus who got her car repossessed. What car should we buy?

We need to pay cash…under $3,000.00. Only gifted astrological people need reply. Thank you!

latitude answers:

Hmmm…. Tough one.

Maria Your Questions About Buy Repossessed Cars

Maria asks…

my car was repossessed on Wed I have the money for the car buy not for the towing will i get my car back?

I was out of work for a year & fell behind on my car payments. I owe $978 which $800 has to be paid for the car and $400 for the towing. I have the $800 but not the $400 and have no idea how I’m going to get it. Will I get my car back this week? I borrowed from all my family already.

latitude answers:

No, you have to pay the repo fees before the car will be released back to you, plus as dumpling said, you will amass storage fees every day you leave it on the tow companies lot. It can add up quick. I would suggest borrowing some more money as soon as you can.
You have to pay the tow company for their work, it isn’t their fault you didn’t make your payments and they had to repo the car.

Sandra Your Questions About Buy Repossessed Cars

Sandra asks…

are these repossessed cars worth buying?

well i am young and poor and i need a car that will last me a while cheap is this something i should look in to?

latitude answers:

I used to repo for GMAC. People would go out of there way to hide there car or chase you down the street shooting at you.

NOW with that in mind these people thought there car was worth something. We have found large amounts of drugs in the truck or tools or whatever. Maybe thats all they wanted.

However repo usually means someone cant afford to pay for it. The car is perfectlly good they just got unluck and lost there job. SO now you get there car from there unlucky exsperience. OF CORSE this doesnt mean they wasnt having major mechanical problems when it was repo’ed.
(Beware the buyer). It’s right on the dollar. IF you had time go to car faxs on the net some problems are listed there.

NOW if your talking about police repo’s, These are cars or whatever that the cops steal. Ya thats right- they legally steal vehicals, houses, pretty much anything that you own when they bust you for dealing drugs or doing any illegal activity. The way this goes down is they say you never should have had the house or car or whatever HOWEVER your illegal activity bought the item so with the IRS’s support they simply take everything you own. THEN they sell them to whomever. This money they make is used to buy drugs or illigal mercandise so they can bust someone else. So they Illigally buy and sell illigal product or mercandise to refund theremselves to continue there job. IF they didnt do this they wouldnt have a job. SO you could say they are creating a job for themselves, and getting the bad guy at the same time, then using dirty money to continue doing it over and over.

THEREFORE if it’s a police impound or repo- It’s probably a good car. Usually drug dealers or the BAD GUY take care of there wheels to get away from the GOOD GUY and continue there job.

Sharon Your Questions About Buy Repossessed Cars

Sharon asks…

Should I buy my tenant’s repossessed car?

My tenant is in constant financial trouble and today is no exception. He is getting calls from “someone” saying he owes child support and they are threatening repossession. He literally only owns one thing: his $800, 1980′s car.

He has asked my husband to buy his car from him for a dollar so that it cannot be repossessed, but then he would still have it for use.

Is this even a possibility? What are the possible repercussions for us? Also, like I said, that car is literally the only thing he owns. All of his furnishings, everything in his apartment belongs to my husband and me and we allow him its use. Is there a chance they will try to repossess any of this stuff?

Also, is there anyone he can talk to about his finances? He is having constant problems with his child support, he owes $9,000 in backtaxes, he owes money everywhere, and he is still technically married to his ex, who constantly runs up bills in his name. He cannot even open a bank account because every bank he goes to tells him he owes money to this clothing store or that jewelry store? Who do you talk to when your finances are so bad, you can’t even afford to talk to someone about them?!

latitude answers:

He is trying to avoid his debts by hiding his assets. This is illegal. If you help him do it, you might be accused of being an accessory, although it is unlikely. They could easily show that selling the car for a dollar was a sham, and repossess the car anyway.

However, it is rare to have your car repossessed for child support. The laws are different in every state, but I doubt they can repossess his car.

He needs to talk to a lawyer about his ex running up bills in his name. He may have to bring criminal charges against her and/or put a credit block on his name.

Lizzie Your Questions About Buy Repossessed Cars

Lizzie asks…

Are there any hidden dangers in buying a finance repossessed vehicle?

I’m looking for a new car, I’ve seen a couple of websites that specialise in finance repossessions and customs/excise seized vehicles.

Are there any hidden dangers in buying a repossessed car? Do they have to be re-registered or anything like that?

latitude answers:

Believe it or not a lot of new dealers buy repo’s from auction they just never tell you the best advice i can give anyone is take any car to a garage give the guy $100.00 bucks to check it out from end to end.. I know $100.00 sounds like a lot of money but it could save you thousands in the long run…and if the car is right you have saved money if its not you have saved money

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May
15

Your Questions About How To Buy A Used Car Online

Robert Your Questions About How To Buy A Used Car Online

Robert asks…

Purchasing a used car online?

I am looking on Craiglists at used cars, and was wondering has anyone ever brought a car online and if so how was the experience and would you recommend anyone to do it?
Also any suggestions on what might be a good website to look for cars online and what am I to look for when buying a used car: what questions to ask, whats an acceptable amount of miles, car history things like that.
Thanks

latitude answers:

Don’t buy a car online. Look onto kbb.com and really see what values cars should be worth. Even choose the features that you want and it can calculate prices for you. Your best bet for purchasing a car is to go to a local dealership, who have a better buying policy than independently sold ones. Then, use kelly blue book (kbb.com) to see if they’re scamming you or being fair. Good luck!

Daniel Your Questions About How To Buy A Used Car Online

Daniel asks…

Buying used cars online?

Ok, so please answer only if you know for sure what you’re saying.

Well, I recently moved to Paraguay from USA and all cars costs about 3 times what it costs in USA (with importation taxes and everything). I always dreamed of having a BMW X5, but I won’t be able to buy one in here. So how do I buy a car online? How do I pay the seller? Is there any secure way?
Thank you.

latitude answers:

You need someone you trust in the US that can middle man your transaction. Most people or business will not sell to someone in another country because there are so many scams these days. You need to find out importing laws and taxes in Paraguay. They might have free trade with the US, that would be the best case scenario for you. Then you have to find out what transporters ship to Paraguay, I would assume it would have to come buy ship because plane would be super expensive. You should call the closest sea port to you and ask what ships go to the US and how you can get a car on a ship in the US and ship it to you. If they don’t know you need to have a friend or family member in the US call around to different shippers and see who goes to Paraguay from the US. Good luck, you can make a full time job out of this if you have good luck with one, I work with people that import boat into Australia full time because they cost a bunch more down there than they do in the States. They make a killing do this, the trick is knowing people in both countries but since you are there it should not be that hard to find someone here if you are from here.

John Your Questions About How To Buy A Used Car Online

John asks…

Buying a used car, dealership versus internet?

I’ve been checking out cars online recently since I need a car. But I can only afford something used. What websites are reliable as far as buying used cars online, compared to dealerships? I know about Car Max, Kelly Blue book, etc, but are there others that have good reputations? (I live in Illinois if you know of something more local to that state)

Also, if you try and buy a car directly from the manufacturer…what does that mean exactly? How do you bypass the dealership to get a car from the factory for a better deal? (I wasn’t sure if this was possible.) I wasn’t sure how to contact a manufacturer directly for a car.

Thank you for your advice.

latitude answers:

Unless the vehicle you want is being advertised by a private party, any used vehicle you buy is going to be from a dealership anyway regardless of the web site(s) they may use to advertise it. Virtually every popular used car web site offers the ability to search by state or zip code to find vehicles local to you.

You cannot (yet) buy a vehicle directly from the manufacturer. State franchise laws restrict manufacturers to selling vehicles through their independently owned and operated local dealerships. Of course, this is irrelevant for used vehicles which cannot be ordered from manufacturers anyway.

Without knowing your specific budget, you may not want to dismiss buying a new vehicle out-of-hand. Used vehicles have never been in higher demand or shorter supply and are therefore more expensive than they’ve ever been. At the same time, new vehicles have never been more heavily incentivized and dealerships more willing to negotiate, especially for 2009 model year vehicles (and particularly for some who have new 2008 model year vehicles on their lots). Especially when you factor-in some of the promotional interest rates being offered (sometimes 0%) compared to the cost of financing a used vehicle (5% or more), you may find that a new vehicle may not cost much more than a used one (plus you get a full warranty). The difference in interest costs can total thousands of dollars (do the math).

If you do buy a used vehicle, you should absolutely invest in obtaining a CarFax vehicle history report and taking the vehicle to a qualified mechanic for inspection before buying. Unless the used vehicle comes with the balance of its original manufacturer’s warranty, it’s the only way to protect yourself from buying into a financial black hole or worse (an unsafe vehicle).

Best of luck. I hope this helps.

David Your Questions About How To Buy A Used Car Online

David asks…

Mazda Canada And The Mazda FX-7 – How To Buy From Japanese Used Car Auctions?

Looking for a membership site that explains how to buy Japanese cars cheaply from online auctions and private dealers. I’m sure there should be some experts out there.

latitude answers:

Importing Japanese cars (used sports cars) from online auctions like Yahoo! Autos is one option if you want to do everything yourself — or you could hire an import broker who will facilitate the transfer between you and the seller.

The best option, however, is to join a membership site where you’ll get all information about the latest auctions, bid status, negotiation tactics and delivery reports.

Irrespective of whether you want to import cars into Canada for reselling, or for custom modification with body kits, the following two sites should help you on both counts. Both are new but fast-growing ‘expert sites’, with members joining in every day. Try them out and see if they work for you. They’re among the best I’ve seen.

Mandy Your Questions About How To Buy A Used Car Online

Mandy asks…

bought a used car but want to register my car online.?

Thank you for your time,
I heard that you can register your car online if you want to register it in Texas ,how is that possible ? Another question,I want a licence plate for my car ,so can you also order licence plates online.Please help I am totally confused.

Thank you very much

latitude answers:

Go to mv and get er done/only way for obvious reasons/fraud

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