Have you ever wondered what you need to do before buying a car? It can be complicated & feel overwhelming. Tom Martin, of Tom Martin Coaching, has 26 years in the auto industry & he helps break it down in an easy to understand way.
Tom Martin bio: Tom Martin is a certified executive coach who helps business owners design and execute strategies that help them win in business and in life.
Where to go to get information when trying to figure out what style of car to buy:
- MSN Autos – Research: https://www.msn.com/en-us/autos/research
- NADA Guides – Research and Compare: http://www.nadaguides.com/Cars
- AOL Autos (now AutoBlog): https://help.aol.com/products/aol-autos
Where to go to get information about third-party reviews, reliability reports, and safety ratings for specific models your considering:
- Consumer Reports – Find Car Ratings: https://www.consumerreports.org/cars/used-cars/
- Edmunds – Used Car Ratings: https://www.edmunds.com/used-car-ratings/
- Kelley Blue Book – Car Reviews and Ratings: https://www.kbb.com/car-reviews/
- JD Powers – Vehicle Dependability Study: http://www.jdpower.com/cars/articles/jd-power-studies/new-and-used-car-ratings-2010-present
- Insurance Institute of Highway Safety: http://www.iihs.org/iihs/ratings
- National Highway Traffic Safety Association: https://www.nhtsa.gov/ratings
- Note! They serve as a resource to check on manufacturer recalls
Where to go to get information to help you negotiate a good deal:
Kelley Blue Book – Used Car Values: https://www.kbb.com/used-cars/
Edmunds – True Market Value (TMV): https://www.edmunds.com/used-cars-for-sale/
NADA Guides: Used Car Value Guide: http://www.nadaguides.com/Cars
True Car: No hassle pricing service: https://www.truecar.com/#/
Carvana: virtual used car dealer: https://www.carvana.com/
Before buying a car from a used car dealer or an individual:
- Get a CARFAX report: https://www.carfax.com/
- You want to do this before investing in the presale inspection to make sure there are no “red-flags” like major accidents or if the car was in an area which experienced a flood or natural disaster.
- Invest in a pre-sale inspection: make sure it is an ASE certified mechanic
- If you don’t have a local mechanic ask your neighbors on Nextdoor for a recommendation.
- Contact your local DMV: you want to know what it will cost you to legally transfer the title into your name and register the car for the upcoming year.
- Ask the dealer or individual to show you the title to make sure they legally own the car before completing the transaction.