Car Buying Seminar Tom Lindstrom [email protected] China Outreach Ministries www.comumn.org Outline Understanding our assumptions Understanding Cars Dealing with People Dealing with Details Inspecting the Car Recommendations Understanding Our Assumptions T/F Test What REALLY Matters?
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Car Buying Seminar
Tom Lindstrom [email protected]
China Outreach Ministries
Understanding Our Assumptions
What REALLY Matters?
Cost of Maintenance
Ability to impress my friends
Make of car (ie Toyota)
Everything MUST work all the time
Easy to park, learn to drive, etc.
Lower anxiety about vandalism, theft, etc.
Dependable transportation that doesn’t interfere with your studies
Lower anxiety regarding safety & damage to your car while you learn to drive
Japanese cars RUST but are typically more dependable. Repairs sometimes expensive.
European cars are well designed but expensive to repair, more complicated. Complicated electrical systems are their death knoll. Motors and bodies last forever.
American cars rust, are not as well designed, but parts and repairs are readily available. These cars are usually more practical in design, and there are several that stand out as very reliable.
(Normal annual mileage is
12 - 15k per year)
Rank the following Cars:
Which one costs $141 to replace the water pump?
Which one costs $624 to replace the water pump?
And who would think that you could replace a water pump on a $46,000 Cadillac for under $150?
Of the cars on the previous page, the Acura would have the highest rating for dependability…but @ $545 to replace the water pump…you might want to think again about purchasing one!
1983 Ford Econoline 150
10 mpg, but…
Very cheap and easy to repair-
This was the best economy car I had for 15 years!
Repairs 60 - 90k:
Repairs beyond 100k:
Sometimes a car with 100k on it is
cheaper to drive than a
comparable vehicle with 60k on it
You probably don’t NEED a car after all!
There are other forms of transportation!
The owner of this car kept meticulous records of
repairs and it drove absolutely like new!
This car has an excellent engine, its safe, and it won’t matter if
you smash it up a little learning to drive!
What can you learn from a junkyard?
Some cars give their owners the “Blues”
Some cars end up junked sooner than you would expect
Certain models have consistently defective major components
The day I was here (at the junkyard) I saw 3 or 4 Mazda 626s in this condition…why are they there when they appear to be in great condition and only five to seven years old?
Expensive, “surprise” repair bills
Repairs for which no parts are available,often due to defective parts!
When buying a car, how can I minimize
my exposure to the risks of repair bills
I cannot afford?
Finding the Right Car- Doing your Research!
Researching the history and
reliability of specific models
In the case of the Mazda 626, I found a website for complaining owners whose transmissions failed
This chart is from the
Millions of readers
contribute to the
data collected by
some of the best
This chart is also
A part of the
This chart is a list of
for used cars that
statistically have had
over the years…
Glenn, Karen Beach and I all own vans on this list!!!
ment data previously
unavailable to the public
get a 3 year old car for 60% of its new price!)
Have a higher concern for “nice cars” on their lot
Get business based on name plate of dealership, not on quality of service or repairs!
Lots of overhead, lots of salespeople means they
have to keep standards up (and prices!)
Get first pick of the used cars at the best prices
Typically have less concern for repeat business
Finding a reputable Used Car Lot is one thing…Finding a good car on such a lot is another!
Nearly ALL the cars here were rejected by
New Car Dealerships for some reason!
Just what is “Minnesota Nice?”
Inspect the Tires
Abnormal wear can
things about the car
may not know!
Because International Students are the riskiest group to insure and because they have the highest accident rate due to their unfamiliarity with cars…
Cars you might have overlooked
(3 year old value
is 50% of new- very
(I think this Lamborghini costs more than your education!)