Car Buyers Guide

Closing the deal

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What happens in the closing of a deal? 

theclose.htm

What do you need to close the deal?

         A. When all the negotiating is done and every one is happy you will have to start a different process. Relax for a minute you did a great job if you followed my information. You are not done yet there is a lot of paper work involved in the deal. Some people drop there guards at this point. This is not the right time to do that. This page will cover the things you need to have as well as what the dealer has to do. Please keep in mind that the laws very from state to state. This is only a guide to use your state may require more than this or less than this, each state should have at least most of this involved in its paper work process.

What do you need to bring to the table?

      A. If you have a  trade-In you will need to provide the title to it. Now not all states issue titles when there is still a lean on the vehicle. Thats Ok the dealer will handle get that paper work done. In some states the dealer will have you sign a power of attorney so you don't have to come back and sign the title when they do get it in, This is a normal process. It will save you an unnecessary trip back to the dealership at a later time. If you have the title you will need to sign it and turn it over to the dealer. A little side note here if your title is tainted meaning if it marked salvaged vehicle or flood damage. Anything like that you need to let them know this up front. Your trade is not going to be worth as much under this circumstance, and rightfully so. If you try to hide this information you will only cause problems down the road.          

  • B. Proof of insurance:  If you are financing the new vehicle you will have to show proof of full coverage insurance. If you are leasing the vehicle they may require certain deductibles as well your dealer can inform you as what that may be. This is real important to know when leasing because it may cause your insurance to go up. Do some home work on this one before you shop.
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  •   C. Drivers licenses: You will have to show a valid drivers license to take delivery of your new vehicle. In some states you are not required to have a drivers license to buy a vehicle but you must have one to drive it. If there are two people involved in the deal and both are going to be on the title then both must have drivers license at the time of delivery.
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  • D. Although this should be done earlier in the deal it may not have been. You need to get  a verified pay off amount on your trade if there is still a lean. Most dealers will have you sign a form stating if the payoff is higher than what was worked in the deal you are responsible for the difference. again no need to hold out on this information it will only cause heartache latter.

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    WHAT THE DEALERS DON'T WANT YOU TO KNOW