Video and transcript- Introduction to California Lemon Law

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California State Lemon Law And Statutes

California Lemon Law

The following was transcribed from the above Video, and should not be taken as a perfect transcript of the video, view the video yourself to see what was actually said.

This time of year when car dealers offer amazing incentives to bring in potential buyers but buyer beware. Craig Thor Kimmel and automotive consumer advocate and lemon law attorneys here with tips on how to buy the car you want without being taken for a ride.

Good morning

Good morning

The ads are inescapable their wheelie either deals out there I is there an overstock inventory time a good time to buy.

Its an excellent time to buy, now and till the end of the year, because manufacturers want to right off these cost for extra sales by the end of the year, January 1st. And also in the new year car shows come out, Manufactures wanna halk their new products, get a competitive advantage and launch their new year properly.

So when you walk into the dealership though, you have something's that you say, you absolutely have to know before you even think about walking into a car dealership if you have a model in mind you say you have to know the and MSRP.

What on Earth is that?

That's just the sticker on the side of the car, its the manufacturers suggested retail price and word suggested is really the critical word there because it's only information from the manufacturer to provide a consumer what they should be paying for this car and arrangement. But for consumers it's the starting point from which negotiations begin and usually pay less than MSRP if you know how to negotiate for car.

So by and large, when you're going in assuming all things being equal should probably take less than MSRP.

Absolutely the only time this might not apply is for certain vehicles are in high demand for example these hybrid cars right now it is long on waiting lists I also advised consumers that they want that type of car just wait, they will be plenty in the future you want to get the best deal now because you would be living with this car for years to come and you don't pay too much.

The other thing you say is you absolutely need to know your own personal credit rating before you go and why?

Creditworthiness is a function of how much pay for the car indirectly because the finance rates is what the rate at which banks lend money, the better your credit to lower your finance rates, the lower your finance rate, the lower your payments. If you do not know what you creditworthiness is, dealers often times will write you at a higher rate without you even knowing most states require dealers to disclose this information. And you can double or triple your car payment before you know without even paying attention to finance rate.

Is it a rule of thumb, is it better to get the financing of the dealer will find it on your own.

Thats a difficult answer because some of the programs manufacturers provide 0% 2% 4% interest rates will give you an excellent opportunity to get the car much cheaper than anywhere else for financing and however oftentimes dealers don't tell you that the marking up your rate so check with your own Bank check with a big lender like GMAC or perhaps ford motor credit and know what you should be paying going into the transaction and make sure that you don't pay more than that when at the dealership.

But this incident sounds like such commonsense and you say check the car before you buy.

You this is the easiest piece of advice but it's the one thing people just assume they're buying a car that it is right out of the box and work well but consumers need do is check and make sure that the engine in the car is the right engine. If it is a V8 Make sure it says V8 on the sticker that actually underneath the hood. I've seen people find otherwise check the air conditioning, make sure the sun roof works. Even in weather like today when everything works, heater, the stereo make sure you have the right CD player. If its a stack player vs.

Can you do that before you sign the paper?

That's the only time to do it, because once you sign this car away in the sales contract its yours, regardless of what material is on the vehicle versus what's on the stickers. So make sure that you try before you buy and everything is exactly what you want before you sign.

This is the really big one because I have been in those dealership sometimes especially as a young person as you're going in for the first time you're so overwhelmed by all of the stuff, piles of paper being flown at you, understand exactly what the terms of the contract.

Absolutely in the contract can be very misleading what you are told by the salesman maybe one thing what the contract says or something else. Make sure you read the contract, the big boxes that reflect interest rates and payments and the duration of the loan, critical importance so make sure you read all the little smaller disclaimers that will determine what your rights are after you sign the contract. Once you sign the car is yours, the dealer can't change the deal.

By and large do you think that most big name dealerships do a pretty reputable job of selling cars?

you know reputable is something we compare one dealership versus another in the way the industry has always worked car dealers handle things a certain way the law generally requires quite a bit more than the dealerships may tell the consumer. So i always tell the consumer get the most information can in advance make sure you look at the situation from a very difficult point of view from yourself

Make sure that you don't just adjust assume that the dealer is being truthful.

Alright, go get the deal but know what you are doing, Craig Thor Kimmel thanks so much.
The Above was transcribed from the above Video, and should not be taken as a perfect transcript of the video, view the video yourself to see what was actually said.

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