HOW CAN I MAKE A GOOD DEAL WHEN PURCHASING A NEW VEHICLE?
Buying a new car is difficult. There are many choices. For many buyers, new motor vehicles are the most expensive items that they will purchase in their lifetimes (unless they buy a home). It is especially confusing because the "sticker price" on the windshield is often not the best price you can get.
WHAT FEES SHOULD I PAY?
Most commonly, there are three categories of car-buying fees: vehicle registration fees, sales tax and a document fee or "doc fee". To understand how they work and what to expect., see Edmunds
SHOULD I PURCHASE GAP COVERAGE?
In deciding whether or not to purchase "GAP insurance" see Edmunds Starting October 2015, the Nevada Legislature has authorized the sale of a GAP waiver by a car dealer/creditor which, depending on the terms of the particular contract, may cover the same risk as GAP insurance. Check pricing and terms with their own insurance agent BEFORE agreeing to purchase GAP insurance or a GAP waiver from a car dealer/creditor.
WHAT GUARANTEES OR WARRANTIES DOES THE MANUFACTURER MAKE ON MY NEW VEHICLE?
Manufacturers of new cars and trucks typically give "express" warranties that the vehicle is free from defects caused by the manufacturer. Under the federal Magnuson-Moss Act (15 U.S.C.2301-2312), express warranties must be either "full" or "limited". "Full" warranties require repairing any defects within a reasonable time without charge; allowing the consumer to choose either a refund or replacement if the item cannot be repaired. "Limited" warranties are any express warranties that promise something less than a full warranty.
The law requires that express warranties must be clearly disclosed and must state:
- who can enforce it
- what is covered (i.e., what parts, service, etc.)
- how long it lasts
- the consumer's duties
- whether any informal dispute or settlement mechanisms are available
- whether implied warranties are limited
- any rights under state law
- whether a warranty card must be returned