Auto 2014 Buying Guide - Capital One

Auto

2014 Buying

Guide

A Road Map to Your Next Car

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Auto

2014 Buying

Guide

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Congratulations!

You made the right choice by getting your hands on this 2014 Capital One? Auto Buying Guide. And you just took the first step toward getting into your next vehicle!

We're going to help you develop a road map for purchasing your next car by introducing you to what you need to know before you head to the dealership.

By the time you reach the end of this guide, you'll be car shopping with confidence, because you'll know how to:

? Determine what type of car is right for you.

? Secure your auto financing before you begin to shop.

? Take control of your financing and purchasing choices.

Throughout this guide you'll find calculators and worksheets that will help you determine which car is right for you. Fill them out, print them, and take them with you when you test drive or purchase your vehicle.

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Table of Contents

Your Budget

Monthly Living Expense Worksheet The 20% Rule

Researching Cars and Costs

Pre-owned Vehicle Research Pre-owned Car Inspection Checklist Accessories and Add-ons Accessories Checklist Price Comparison Worksheet

Financing Your Car

Your Credit Score When To Finance Finance with Capital One? About Interest Rates Monthly Car Payment Calculator Auto Loan Amount Calculator

Making The Deal

Visiting the Dealership Buying Your Car Trading Your Car Selling Your Car Negotiating Tips

Resources

Summary Worksheet Online Auto Buying Research Credit Reporting Bureaus Auto Buying Glossary

References Capital One Auto Finance?

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Your Budget Researching Cars and Costs Financing Your Car Making The Deal Resources

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knowledge

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Your car payment should be

20% no higher than

of your monthly income1.

Your Budget

The first step toward buying a car is finding out how much you can spend. To do that, enter your monthly income after taxes in the worksheet below and subtract your monthly expenses. Add additional expenses, if necessary. The remaining balance is an estimate of what you can put toward your monthly auto payment.

Monthly Living Expense Worksheet

Monthly Income & Savings: Monthly Income After Taxes Savings Monthly Expenses: Mortgage/Rent Payment Utilities Food Transportation Insurance (Home, Auto, Life) Clothing Entertainment Education Credit Card Payments Other Creditor Payments Other Vehicle Payments Miscellaneous Remaining balance for your auto payment

$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

= $

0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00

The 20% Rule

To estimate your car loan amount and monthly auto payment, use the 20% rule. Your monthly auto payment shouldn't exceed 20% of your net monthly income. Simply multiply your net monthly income by .20 to get your estimated monthly auto payment.

Net Monthly Income X 20% (.20)

Calculate

= $

0.00

Maximum Amount

of Estimated Auto Payment

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Your Budget

RESEARCHING CARS AND COSTS

Financing Your Car

Making The Deal

Resources

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knowledge

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85% Almost

of

auto shoppers would

consider buying a certified

pre-owned vehicle3.

Researching Cars and Costs

Chances are, your heart was already set on a particular car before you came across this guide, but is it the best option for your lifestyle and budget? Are you better off with a new or pre-owned car? Research is the key to finding out.

Pre-owned Vehicle Research

Many pre-owned cars now come with manufacturer-sponsored certification programs and extended warranties, which make them more reliable than before. It's still good to give a pre-owned car a thorough inspection just to find out if any repairs will be in your near future.

Pre-owned Car Inspection Checklist

Area Inspected Exterior Paint and chrome Glass and metal surfaces Leaks below engine Tires Tread wear Spare tire and jack Interior Carpets and upholstery Seat controls Dashboard Controls Windshield washer and wipers Air conditioner, heater, & defroster Lights Dashboard and interior lights Headlights, brake, turn signals Start the Engine Choke Engine shaking or stalling

Pass/Fail

Make, Model, and Year: _______________________ Odometer Mileage: _______________________ Owner/Dealer: _______________________ Asking Price: _______________________ Address: _______________________

_______________________

Phone: _______________________

Date: _______________________

Owner's Manual Included:

Yes

No

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Your Budget Researching Cars and Costs Financing Your Car Making The Deal Resources

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74% of respondents

said vehicle safety features and options are more important to them than they were five years ago4.

Accessories and Add-ons Accessories and add-ons can increase the value of the car, but understand that they will also increase the total price and your monthly auto loan payment. Below, we've listed popular accessories that you may want to add on to your new vehicle.

Accessories Checklist From the list below, mark which items you consider to be a need or a want. This will help you choose which accessories are necessary and help you stay within budget.

Features Upgraded Engine Automatic Transmission Upgraded or Sport Suspension Traction Control AWD (All Wheel Drive) Upgraded Wheels and Tires Leather or Heated Seating On Star? Upgraded Stereo Navigation System Cruise Control Auto Dimming Mirrors Homelink Storage Package Upgraded Trim Package Sunroof/Moonroof Trailer Towing Package

I Need These

I Want These

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Your Budget

Researching Cars and Costs

Financing Your Car

Making The Deal

Resources

Price Comparison Worksheet

As you narrow your car search, the Price Comparison worksheet below will help you determine an estimated price for the vehicle you're interested in.

Make:

Item

Basic vehicle Option package 1 Option package 2 Other options (Mfr. Code) Destination fees Other fees Rebate Trade-in Taxes Totals

Model:

Style:

Year:

MSRP

Base Price

Invoice Price

Source Source #1 Price #2 Price

$0.00

$0.00

$0.00

$0.00

$0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00 0.00 0.00 0.00 0.00 $0.00

0.00 0.00 0.00 0.00 0.00 $0.00

0.00 0.00 0.00 0.00 0.00 $0.00

0.00 0.00 0.00 0.00 0.00 $0.00

0.00 0.00 0.00 0.00 0.00 $0.00

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67% of new

vehicle buyers use the Internet in their vehicle shopping process5.

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Your Budget Researching Cars and Costs Financing Your Car Making The Deal

Resources

the

knowledge

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3 There are credit bureaus

in the United States that compile credit reports: ? Equifax ? Experian ? TransUnion

Financing Your Car

It's important to understand your credit situation before determining if you can finance a car, who your lender should be, and when you should begin the process of obtaining your auto loan.

Your Credit Score

A credit score is a number between 300 and 850 that is used to help determine the likelihood of a borrower paying back a loan. Your score is determined in part by your credit payment history. It's a great idea to review your credit report for accuracy at least once a year. If you believe it's inaccurate, you have the right to challenge that information.

Credit Score Range

499 and below 500 to 599

600 to 699

700 and up

Very Risky

Risky

Good

Excellent

Source: 8

NOTE: This credit score scale is only an example. Capital One Auto Finance does not base credit decisions on this example.

If your credit score is lower than you expected, here are some tips that could help you out: ? Consistently pay your bills on time. ? Pay down your debt. ? Don't open a new line of credit, like a credit card or home equity loan. ? Maintain a solid job history.

Don't assume that you must have perfect credit to qualify for a car loan with Capital One Auto Finance?. We offer a number of financial options tailored to your needs, based on your complete financial profile and credit history. Plus, we have exceptional customer service and the No Hassle experience you deserve.

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