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What are your wants and needs? For breakfast, I WANT a plate full of flapjacks, loaded with butter and strawberry syrup and a side of sausage links and bacon. I NEED a bowl of oatmeal and a piece of fruit. The concept is the same when buying a new vehicle. Do you really need leather and heated seats? Do you really have to have the sunroof or navigation system? They are all great options but instead of raising your cholesterol like the sausage links and bacon, it will raise your car payment. Maybe the payment still fits within your budget and you get the best of both worlds. This is just one of many decisions our customers have to make every day, especially in today’s economic climate.

At Davis-Moore Nissan, our entire staff from the internet office, sales and finance, can give you all the information you need to make the best decisions for you and your family. To start the easiest process in Wichita, please call 316-613-1589.

Some car dealers will advertise that when you trade in one vehicle to buy another, they will pay off the balance of your loan – no matter how much you owe. But some people owe more on their car than the car is worth. This means they have “negative equity,” meaning the dealer’s promises to pay off their entire loan may be misleading.

The nation’s consumer protection agency, the Federal Trade Commission (FTC), says that people with negative equity should pay special attention to vehicle trade-in offers. That’s because the ad that claims that they will have no further responsibility for any amount of their old loan may be untrue. Dealers may include the negative equity in consumers’ new car loan, which would increase their monthly payments by adding principal and interest.

Here are some tips to help you avoid the snowball effect of negative equity:

• Find out what your current vehicle is worth before you negotiate the purchase of a new car. Check the National Automobile Dealers Association’s (NADA) Guides, Edmunds, and Kelley Blue Book.

• If you have negative equity, either because of your current car loan or a rollover from a previous loan:
Think about postponing your purchase until you’re in a positive equity position. You might consider paying down your loan faster by making additional, principal-only payments.

• Think about selling your car yourself to try getting more for it than its wholesale value.
If you decide to go ahead with a trade-in, ask how the negative equity is being treated in the trade-in.

• Read the contract carefully, making sure that any promises made orally are included. Don’t sign the contract until you understand all the terms, and the amount you will be paying every month.

• Keep the length of your new loan term as short as you can manage. If the negative equity amount is rolled into the new loan, the longer your loan will be, and the longer it will take you to reach positive equity in the vehicle.

For further information on negative equity and to find out where to report problems with dealer advertising and sales and finance contracts, visit http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt083.shtm

Information is all over the internet these days – you can find out just about EVERYTHING you would want to know, about ANY topic. However, one topic that still seems to be a mystery to people is credit. Especially important in car buying – knowing a little something about your credit can go a long way. The finance office isn’t a trip to the dentist! Equipped with a little information, you can take proactive steps to improve your credit! Those videos you didn’t return three years ago that you still owe $10 on? PAY IT OFF! Did you accidentally leave a few dollars on a credit card when you closed it? Pay that off, too! We’ve even seen credit blemishes from monthly tanning packages that were never cancelled – and these are SO easy to take care of!

Simple things can make a BIG difference in your credit score, and consequently the interest rate that you qualify for. You can receive a FREE credit report each year, so check yours out and see what’s on it (and checking your free report once a year does NOT blemish your credit, as many people have been led to believe.) Look it up – your credit may be better than you ever imagined and a new or used car could be in the cards for you right now!

Davis-Moore offers some great tools here in Davis-Moore.com to help you get started. Under the FINANCING tab (top right of your screen), you’ll find the following:

ABOUT finance – A basic overview of the finance department. Learn a little about the benefits of utilizing dealer assisted financing (banks actually compete for your business, and in turn you often get more competitive rates.) Plus, OUR finance hours are the same as our sales hours – so no waiting for the bank to open on Monday if you want to buy a car Saturday afternoon!

Finance application – YES, you can apply for financing online! The form is easy and convenient and takes only a few minutes to fill out. NOTE that if you fill this form out, your credit report WILL BE PULLED! This is an official start to the finance process, though you can do it in your pajamas instead of at the dealership!

FAQs– Answers to some of the most commonly asked finance questions. Don’t see what you’re looking for? On the left hand column of the page click the CONTACT US button and we’ll be glad to help you out!

Payment calculator – Plug in values for your loan (price of the car, minus any down payment or trade-in value), how long you want to make payments, and interest rate. Make sure you are being realistic about the interest rate you work with – don’t put in a low rate just because you HOPE you’ll qualify for it. Use an average rate for your calculations…then if you qualify for something better you’ll be pleasantly surprised!

Credit score estimator – This tool helps you estimate where your credit is. Your credit report is never pulled so it isn’t guaranteed accurate, but if you answer the questions honestly it should give you a good idea!

Hopefully this information helps to give more transparency to credit – and its role in your auto finance process! You have questions; please don’t hesitate to contact us – we’re glad to help!

AUTHENTIC TO THE CORE

The 2011 Jeep^® Wrangler and Wrangler Unlimited 4×4 offers the ultimate in capability without compromise. Wrangler and Wrangler Unlimited delivers with a standard Sunrider^® soft top with larger rear window and body color Freedom Top^® hardtop option on Sahara for a premium appearance. Wrangler and Wrangler Unlimited holds true to its rugged heritage but ramps up the comfort factor in ride and handling.

Have you always wanted to get yourself a Jeep Wrangler? If so it has just become much easier to do so with help from Jeep and Davis-Moore.  Just announced is a $1,000 rebate or 0% for 60 months w.a.c from Ally Financial.

We have a great selection of Wrangler 2 door and Wrangler Unlimited 4 doors to choose from right now.  So hurry on in today or give Greg Tholen a call today @ 316-618-2193.

View our Jeep Wrangler 2 door inventory – Click Here
View our Jeep Wrangler 4 door inventory – Click Here

LEGENDARY 4×4 CAPABILITY

CLICK HERE TO GO TO DAVIS-MOORE.COM