7900 Mayfield Rd Chesterland , OH 44026 216-849-1585

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12 Costly Mistakes Auto Buyers Make When Financing

Here’s a comprehensive list of common mistakes auto buyers make when looking for financing and ways to avoid them:


1. Not Checking Credit Scores Beforehand

  • Mistake: Buyers don't review their credit score or report, leading to surprises when denied or given high-interest rates.

  • How to Avoid:

    • Check your credit score through free tools or services.

    • Review your credit report for errors and dispute inaccuracies to improve your score.


2. Skipping Loan Pre-Approval

  • Mistake: Buyers rely solely on dealership financing, which may not always offer the best rates.

  • How to Avoid:

    • Get pre-approved for a loan through banks or credit unions.

    • Pre-approval strengthens your negotiation power and ensures you stay within budget.


3. Focusing Only on Monthly Payments

  • Mistake: Buyers focus on lowering monthly payments but ignore loan length and total cost.

  • How to Avoid:

    • Look at the overall cost of the loan, including interest paid over time.

    • Avoid loans with excessively long terms (e.g., 72+ months) to minimize interest.


4. Accepting the First Loan Offer

  • Mistake: Buyers don't compare rates and terms across multiple lenders.

  • How to Avoid:

    • Shop around at banks, credit unions, and online lenders.

    • Use tools like auto loan calculators to assess the best deal.


5. Underestimating Loan Fees and Extras

  • Mistake: Buyers overlook hidden fees, taxes, and optional add-ons.

  • How to Avoid:

    • Request a full breakdown of costs from the dealer.

    • Say no to unnecessary extras like extended warranties or rust-proofing unless you find them valuable.


6. Financing the Entire Car Cost

  • Mistake: Zero down payment leads to higher interest payments and possibly owing more than the car's value (negative equity).

  • How to Avoid:

    • Put down at least 10%-20% of the car’s price.

    • Save for the down payment in advance to reduce loan reliance.


7. Not Researching Trade-In Value

  • Mistake: Buyers accept low offers on their trade-in without knowing its worth.

  • How to Avoid:

    • Use tools like Kelley Blue Book or Edmunds to determine your car’s market value.

    • Negotiate or sell privately if the dealer’s offer is too low.


8. Over-Borrowing Beyond Budget

  • Mistake: Buyers stretch their budget, leaving no room for maintenance, insurance, or emergencies.

  • How to Avoid:

    • Follow the 15/20 rule: Car payment should be 15% or less of your monthly income, and the total car cost shouldn’t exceed 20% of your annual income.


9. Ignoring Loan Terms and Fine Print

  • Mistake: Buyers don't read the contract carefully, missing hidden fees or penalties.

  • How to Avoid:

    • Review all terms, including penalties for early repayment, variable rates, or additional fees.

    • Ask for clarification on anything you don't understand.


10. Not Considering Credit Unions

  • Mistake: Buyers overlook credit unions, which often provide lower rates and more flexible terms than traditional banks.

  • How to Avoid:

    • If eligible, apply for financing through a credit union to compare with other offers.


11. Falling for Dealer Promotions

  • Mistake: Buyers get lured by "0% APR" or "no payment for 90 days" deals without understanding the conditions.

  • How to Avoid:

    • Read the fine print to understand the requirements, such as high credit scores or shorter loan terms.


12. Forgetting to Budget for Insurance and Maintenance

  • Mistake: Buyers don't account for ongoing costs like insurance, gas, and upkeep.

  • How to Avoid:

    • Factor in these expenses before committing to a loan.


Final Tip: Be Prepared

Research thoroughly before stepping into the dealership. Having clear financing options and understanding potential pitfalls will save you money and stress in the long run.

Would you like help calculating a specific loan scenario or advice on negotiating better terms? Call 216-849-1585

What to Look for in a used Vehicle

When considering purchasing a used vehicle, it's essential to conduct a thorough evaluation to ensure you make a sound investment. Here are key aspects to look for in a used vehicle:

1. Vehicle History Report

  • Check for Accidents: Ensure the car has not been involved in major accidents.

  • Ownership History: Know how many owners the vehicle has had and the duration of each ownership.

  • Service Records: Look for regular maintenance records to ensure the vehicle was well cared for.

  • Title Status: Ensure the car has a clean title with no liens or salvage status.

2. Exterior Condition

  • Paint and Body: Look for signs of rust, dents, scratches, or mismatched paint.

  • Glass and Lights: Check for cracks or chips in the windshield and ensure all lights (headlights, brake lights, turn signals) are functioning properly.

  • Tires: Inspect tire tread depth and even wear. Uneven wear may indicate alignment issues.

  • Underbody: Look underneath for rust or leaks, which could signal serious problems.

3. Interior Condition

  • Seats and Upholstery: Check for tears, stains, or excessive wear on seats and upholstery.

  • Dashboard and Controls: Ensure all dashboard controls, buttons, and gauges are working correctly.

  • Odor: Be wary of musty or foul odors, which could indicate water damage or mold.

  • Electronics: Test the sound system, air conditioning, heater, and any other electronic features.

4. Mechanical and Performance Aspects

  • Engine: Inspect the engine for any leaks, corrosion, or worn belts and hoses. Check the oil level and condition.

  • Transmission: Ensure smooth shifting during a test drive. Be cautious of any delays or strange noises.

  • Brakes: Test the brakes for responsiveness and listen for any unusual sounds such as grinding or squeaking.

  • Suspension: Drive the car over bumps and turns to check for any unusual noises or handling issues.

  • Steering: Ensure the steering feels firm and responsive without excessive play.

5. Mileage

  • Reasonable Mileage: Compare the car's mileage with its age. The average mileage is around 12,000-15,000 miles per year.

  • Wear and Tear: Higher mileage isn't necessarily bad if the vehicle has been well-maintained. Look for signs of wear consistent with the mileage.

6. Test Drive

  • Comfort and Fit: Ensure you are comfortable in the driver's seat and that all controls are easily accessible.

  • Performance: Pay attention to how the car accelerates, brakes, and handles. Listen for any unusual noises.

  • Idle and Acceleration: Check for smooth idling and acceleration without any hesitation or jerking.

7. Professional Inspection

  • Mechanic's Check: Even if the car seems fine, it's wise to have a trusted mechanic inspect it. They can identify potential issues that may not be obvious during a casual inspection.

  • Diagnostic Test: A professional can perform a diagnostic test to identify any hidden problems with the car's computer systems.

8. Ownership Costs

  • Insurance: Check insurance rates for the vehicle model you are considering.

  • Fuel Economy: Consider the car's fuel efficiency and how it fits with your budget and driving habits.

  • Maintenance and Repairs: Research the typical maintenance costs and common issues for the vehicle model.

9. Price and Value

  • Market Value: Compare the asking price with the car's market value using resources like Kelley Blue Book or Edmunds.

  • Negotiation: Be prepared to negotiate the price based on your findings from the inspection and research.

By paying attention to these factors, you can make a more informed decision and increase your chances of purchasing a reliable and well-maintained used vehicle.

Welcome

Welcome to Our Dealership Blog!

Welcome to our dealership's official blog! Whether you're a seasoned car enthusiast or a first-time buyer, we're thrilled to have you here. This blog is your go-to resource for all things automotive, from the latest industry trends to expert tips on maintenance and purchasing.

Stay tuned as we share valuable insights, exciting updates on new arrivals, and exclusive offers you won't want to miss. At New Line Motors, we're committed to providing exceptional service and helping you make informed decisions about your automotive needs.

Join us on this journey as we explore the world of cars together. Let's drive into the future, one blog post at a time!!

Why Choose New Line Motors

It can’t be avoided: car shopping requires many decisions. While most customers know precisely what they want in a car, it isn’t always a simple process. With 52 percent of consumers feeling anxious or uncomfortable when visiting a car dealership, it is essential to research the best car for your needs and the best dealership to guide you through the process seamlessly.

At New line Motors, we pride ourselves on being one of the best teams of Chesterland dealers in the area. Here are a few things that make a difference in a dealership and why you should choose New Line Motors as your dealership at Cleveland.

Reputation

You can’t fake a reputation. Any good car dealership will have plenty of reviews to back it up. Even more so, customers who had a negative experience at a dealership will share their expertise just as loudly. Finding feedback about a car dealership is as easy as a Google search. However, it is crucial to navigate reviews with a keen eye. While everyone’s experience is different and no business is perfect, you can accurately determine a dealership’s reputation by noting what is consistently said. Do they receive positive reviews for the same thing? Likewise, do they receive the same negative reviews – different people documenting a repeated mistake by the dealership? 

Looking beyond the number of stars and more into the content of a rating will give a better idea of what type of service you will receive from a dealership. Take it one step further and see if and how the dealership responded to positive and negative reviews. How a dealership responds to its customers is an excellent way to gauge whether they genuinely care about its customers and is making something right or is doing the bare minimum for its reputation.

With that in mind, be aware that any business can present itself in a certain way online. For the best insight into a dealership’s reputation, ask your community – friends and family whose opinions you value. 

Inventory

Most Cleveland dealerships have their inventory online. This is helpful to kick off researching different car models – whether it is new or pre-owned. You can compare pricing, explore features and better understand what type of car will work best for your needs. If you already have your mind on a model or color not listed on the website, check to see if the dealership offers custom orders and their standard timeline for that process.  

The best dealership will ultimately depend on your needs.

New Line Motors Advantage of Perfect Pricing


If you’re looking for a used car in the Cleveland area, then you owe it to yourself to experience the New Line Motors advantage we call Perfect Pricing. It’s one of the key elements that make up our approach to selling used cars.

At New Line, we’re on a mission to reclaim the used car shopping process and show how it can be done in ways that are not only less stressful for you and us, but also in ways we think make used car shopping both pleasant and enjoyable. After all, why shouldn’t it be? You’re looking for a new ride that will make you happy, so we think the use car shopping process should be fun.

But you can’t have fun shopping for a used car if negotiating the price feels as stressful as trying to negotiate a hostage release – and the hostage is your wallet! Unfortunately, there is a long tradition among some used car dealers that has soured the process. Too many used car shoppers have experienced aggressive selling techniques, pressuring you to make an impulsive purchase, or trying to “up-sell” you on things you don’t really need or even want. That’s exactly what we avoid at New Line Motors.

We believe that haggling is a big waste of everyone’s time. At New Line Motors we do the homework so you don’t have to. We check retail book values and carefully conduct market research on every car to give it the perfect price. Our prices are fair, competitive, transparent, and presented up-front so no one has to waste time haggling. In fact, we’ve made haggle-free pricing our policy at New Line Motors.

We give every car our best price upfront so you can focus on choosing the right vehicle to fit your needs. We think our “no haggle” approach establishes transparency and eliminates much of the stress traditionally associated with buying a used car. Some people fear that this must mean you are not getting a great deal. Nothing could be further from the truth! Our prices are some of the best around. We are very competitive and aim to be a price leader. You don’t have to negotiate your way to a great deal because you are already getting a great deal.

The other think to keep in mind is our inventory turn policy. We always have cars that are on sale. These vehicles are not inferior in quality or features. They simply are not selling as fast as we want them to. We lower the price, often to our cost or even below, to have them sold as quickly as possible. Please visit our specials page to score an amazing deal!

You don’t have to be an expert negotiator to get a great price on your next used car. All you have to do is visit us today to experience the Auto City advantage of perfect pricing.

Highlighting the latest vehicles that have arrived

?New Arrivals at New Line Motors!

We’re excited to introduce these fantastic vehicles to our lot. Whether you’re looking for reliability, versatility, or fuel efficiency, we’ve got you covered:

  • 2010 Honda CR-V – A trusted favorite, perfect for adventures or daily drives!

  • 2018 Subaru Forester – Spacious, reliable, and ready for your next journey.

  • 2019 Subaru Forester – An upgraded version of a classic, packed with modern features.

  • 2019 Toyota Prius LE – The ultimate hybrid for eco-conscious drivers.

These vehicles are in excellent condition and priced to sell fast. Visit New Line Motors today for a test drive or contact us for more details. Don't wait—these won't last long!

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