Steve Moskos' Blog

Did you Buy a New Ford and then Lose your Job?

7/20/2020

Recently, the Ford Motor Company launched a new program called the Ford Promise program. It is intended to help those people who purchased their new vehicle and then lost their job due to the coronavirus and the downturn of the nation’s economy. It is also intended to reassure people who are considering the purchase of a new vehicle.

Anyone who purchased or leased a vehicle and financed it through Ford can now return their vehicle within the first year they own it if they lose their job. The return must be made within thirty days of losing their income. The program only covers personal vehicles not commercial or business ones.

Vehicles with model years 2019, 2020 and 2021 are eligible, and the vehicle can be used, new, or certified pre-owned. This program is good for vehicles that are purchased through September 30, 2020.

A value will be assigned to your vehicle using the National Automobile Dealers Association average trade-in value. The amount you owe will be reduced by that amount, and Ford will waive up to another $15,000 of your loan. If you owe more than that on your vehicle, you will be responsible for the rest of the loan.

You are also responsible for any late or deferred payments, and if there is any damage to the vehicle, you must pay for that. Once all of the conditions of the program are met, the account is marked as closed and paid so no one needs to worry about a negative report in their credit report.

The company states the program is to assure anyone considering a vehicle purchase but who is worried about the uncertain economy and possible job loss, that there is help available if they do lose their job.

“We feel like right now, the economy is at the stage of recovery where people want things to be back to normal, they want to buy, but they’re still a little nervous about what the future holds,” says Mark LaNeve, vice president, U.S. marketing, sales and service. “We want them to know we understand that, and we’re here to support them in their buying decisions.” (media.ford.com)

Do I Need a Lawyer if my Car is a Lemon?

6/28/2020

Anyone can end up with a new car that has constant problems. A new car like this is known as a “lemon” car, and there are laws to protect consumers who may purchase one. If you have one, you may be angry and not sure what to do first. If contacting the dealer where you purchased the vehicle does not bring you the results you need, you should contact an attorney who specializes in the “lemon laws” of your state.

why you Need an Attorney

Just like other professions, attorneys often specialize in certain areas of the law. When you begin your search, make sure you ask the lawyer how much experience they have with lemon laws. If they don’t have much experience, you would be better off to search for another lawyer. The laws can be confusing, and you need someone who is familiar with the law in your area to guide you through the process of getting your vehicle repaired or replaced.

To be considered a lemon, a new vehicle must have a defect that is covered by the manufacturer’s warranty that became known during a certain time frame or number of miles you have driven. Every state has different lemon laws and different timelines which is why it’s important to contact an attorney as soon as possible after you start having problems with your new car as they are best able to guide you in the process.

If you are unlucky enough to purchase a new vehicle from a dealership that cannot repair your vehicle, an attorney can contact the dealer or manufacturer on your behalf. Sometimes, a letter from an attorney is enough to force the dealer or manufacturer to discuss options with you, but this isn’t always the case.

Most manufacturers require you to go through non-binding arbitration first. You and your attorney will have the opportunity to present your proof of attempted repairs and the time you were without your new car. Once the arbitration board has heard your case, the manufacturer may make an offer. You and your attorney can discuss whether to accept or decline the offer.
If you decide the offer is not satisfactory to you, your attorney can file a law suit against the manufacturer of your vehicle. Your attorney can offer more of the evidence you have collected in court. Always be sure to keep careful records of repairs that were completed on your vehicle and any discussions you have had with the dealer you purchased the car from. All of this will be important in helping your lemon law attorney in building a strong case for your law suit.

While it may seem like this is a simple process that you can handle on your own, the complexity of lemon laws are very confusing to someone who isn’t experienced with the law. You may miss an important detail or deadline that will prevent your car from being declared a lemon and repaired or replaced. It would be best to let an experienced lemon law attorney handle the process for you so you get the best outcome for your situation.

Is it Better to Trade my Car to a Dealership or Sell it on my Own?

5/18/2020

When it’s time for a new vehicle, it can be a tough choice deciding whether to trade your car in on the new one or try to sell it on your own. The choice really comes down to whether you are willing to put forth the effort in selling it on your own or if you need the trade in for your down payment.

Pros and Cons to Selling your Car on your Own

If you are willing to spend a little time and effort, selling your car on your own can offer some big benefits, but many people don’t want to deal with it.

Most of the time, selling your car on your own will get you more money for your vehicle. Dealerships will often not offer much more than wholesale value for your vehicle, but selling it yourself lets you put the price on it.
It may be easier to negotiate with your potential buyers as they probably don’t have the experience at haggling like a car sales person would. You may be able to keep the price closer to what you want.
It does take a lot of time to sell your car. You need to get it ready to sell, advertise, deal with strangers, and give test drives.
If you are counting on the money for your old car to make the down payment on the new, you may not be able to get your new car as soon as you would like. Or, if you still owe on the old car, you may have to make two vehicle payments a month until you do sell it.
The longer you try to sell it, the harder it may be. If you don’t trade it in, you may be stuck with taking much less than you wanted if you can’t afford to make two payments a month.
You will have to pay more sales tax on the new car, but if you make enough on the old one, you may still come out ahead.

Pros and Cons to Trading your Car to a Dealership

Many people think that trading their car to the dealership is the best way to get rid of an old car. There are many advantages to doing that, but one big disadvantage.

The biggest reason to not trade your vehicle is the price. Dealerships will simply not give you as much for your car as if you sold it yourself. They need to think of resale value and will want to make money on your old car when they resell it to someone else.
A huge advantage to trading in your car is how simple it is. You just drop it off at the dealer and from then on, it is their problem. You don’t have to advertise it and try to find someone willing to pay your price.
The amount the dealership gives you can be used as part, if not all, of your down payment for the new vehicle.
You will have to negotiate with very experienced sales people over the price.
Many states only charge sales tax on the difference between your trade-ins value and the price of the new car so you may save some money in taxes.

Making the decision of whether to trade in your old vehicle or sell can be difficult. If you don’t have the time to deal with advertising and with people looking at your car, trading it in may be the better option. However, you may get more money for it if you sell it yourself. The choice becomes whether you have the time and need the extra money or whether you just want the car gone.

How to Disinfect Vehicles to Prevent the Spread of COVID – 19

5/11/2020

While many people are thoroughly disinfecting their homes to prevent the spread of COVID-19, disinfecting their cars may never cross their minds. Even if you are extremely careful in stores and wash your hands as soon as you get home, you may transmit the virus to your car between stores and home. Follow these steps to be sure your car is germ-free.

If someone who is positive for COVID-19 has been in the vehicle, leave the car alone for at least 24 hours, if possible, before starting to disinfect it. Limiting the number of people you transport in your car to members of your household will help prevent the potential spread of the virus.

To disinfect your vehicle, choose any disposable wipes that are sanitizing. Please note that baby wipes will not kill the virus. The first time you disinfect your vehicle, be sure to thoroughly wipe all of the following areas of your car. Once you have cleaned it the first time, use wipes to disinfect any areas you touch every day.

Clean the following areas:

Seat belt buttons and adjustors
Buttons that control mirrors, lights, door locks, sunroof, and windows
Gas cap and fuel lid
Interior and exterior door handles
All radio controls (buttons and touch screens – including Bluetooth devices)
Steering wheel and all control buttons on it
Turn signals, windshield wipers, fog lights, and four-way flashers
Gear shift
Trunk, hood, and gas cap release knobs
Exterior hood release
Exterior trunk handle
Power seat switches
Arm rests on all doors (both window and interior rests)
Ignition switch and keys (or fob)
HVAC controls and vents
Center console
Cup holders
Sun glasses and case
Leather seats
Glove box button and handle (It would be a good idea to wipe the entire box down.)
Side and rear view mirrors
Garage door openers
Any chargers you may leave in your vehicle (do not wipe the ends – only the wires themselves)

As a precaution, put sanitizing wipes in your car so you can easily wipe down surfaces you touch often. Get in the habit of doing that as soon as you get home every day or between stops if you are running several errands at a time.

In addition, while car dealerships have strict orders in place on disinfecting your vehicle when you take it in for repairs – both before they work on it and after, it is still a good idea to disinfect your car as soon as possible after it has been serviced or repaired.

Keeping your vehicle clean is an important part of stopping the spread of COVID-19, and it only takes a few minutes each time you use your car.

message for prospective clients during covid-19

4/16/2020

The current situation has placed a great burden on many people. We are trying to accommodate everyone as quickly as we can. The best and fastest way to contact us is through this website on our contact page. We will be in touch with you as soon as possible.

Please know that we are making efforts to meet virtually with clients so we may continue to serve you in a timely manner. As with any new process, there are hiccups.

We thank you in advance for your patience. Please stay safe and healthy.

What Fees Can I Expect When I Purchase a New Car?

4/7/2020

Many people know that car dealerships are very good at adding fees to the cost of your new vehicle. These little additions can add up quickly so always question the list of fees you are given when negotiating the price for your new car. You might be able to negotiate a lower fee at times, but be sure to ask about total fees before agreeing to the cost of your car. You don’t want to get a nasty surprise when you look at the finance paperwork and see a much higher price than you agreed on.

Be aware that some fees are regulated by state and local agencies, and you will have no choice except to pay. The most common fees you may be asked to pay usually fall into one of three categories – sales tax, registration fees, and documentation fee. These are usually non-negotiable.

Sales Tax

Sales tax is required on every vehicle purchase and is non-negotiable. The dealer does not set the amount of tax – that is state regulated and must be paid. Make sure to ask whether the sales tax will be included in the amount you finance or if you will be required to pay it when you register your new car. If you can afford it, it is better to pay cash for your sales tax as it will reduce the amount you have to finance and save you interest.

Vehicle Registration Fees

Often, a dealership will register your vehicle for you to save you a trip to the Department of Motor Vehicles. Again, this is a state regulated fee, and the dealer has no control over the amount. This fee covers the registration and title fees for your new car. It will vary, depending on the car you choose – the more expensive your car is, the higher the fees will be.

Documentation Fees

Documentation fees are supposedly meant to cover the cost of the office personnel needed to do the paperwork after you purchase a new car. When examined, this fee looks more like additional profit to the dealer as the dealer is paying an hourly employee to handle several transactions per hour. These fees vary from dealer to dealer. Some states put a limit on how much they can be. Most documentation fees are between $50 - $500. South Carolina does not have a limit on this fee, and documentation fees average around $350 here. Always ask about this fee before you sign any papers as many dealers will not mention the amount until you have signed a contract. You can try to negotiate this fee with the dealer, but expect a fair amount of push back.

Other Fees

Most dealers also charge a small fee based on environmental laws in their area. They will also charge regional advertising fees. All dealers are required to join in regional advertising for dealers in their area. Manufacturers insist on this to help pay for expensive ads that run nationally but point you to your local dealer. Make sure the dealer is not charging for their own advertising. If you aren’t sure, call another dealer in your area and ask them about their regional advertising fees and compare the two amounts.

The reality is every new car purchase will be saddled with fees. You may not be able to negotiate lower fees for certain things, but it never hurts to ask. A dealer may want to move merchandise and be willing to reduce some fees.

When a Dealership Contacts Several Banks for my Financing, Does it Hurt my Credit?

3/25/2020

Often, when a person goes to a dealership for a new car, they let the dealer search for financing options. Most of the time, you have several offers to choose from. It is a known fact that inquires on your credit can cause your credit rating to drop, but does this type of inquiry have any impact?

Timing is Important

The most often used credit scoring systems allow people to shop for the best loan for their vehicle purchase without lowering their credit score. This is done by considering all inquiries for a car loan done within a certain time frame as one inquiry,

Be aware that the time frames may be different. To be safe, you should keep your inquires within a 14 day period. Within this time frame, your inquires should be counted as one or perhaps excluded completely by some scoring systems.

When a dealership sends your application to several lenders, those banks will check your credit score and compete for your business. Every lender that checks your credit will appear as a separate inquiry, but because these will happen in such a short amount of time, it should only count as one. So, you shouldn’t need to worry about dealerships sending your application to many lenders. These inquiries should not hurt your credit score, unless you shop outside of a short time frame.

Before you Shop for a Car

When you think you may be ready for a new car, you need to get a copy of your credit report and make sure there are no errors on it that may prevent you from getting a good deal on a car loan.
Besides checking it for errors, your report will also explain what is in your report that is affecting your score. If you have poor credit, this information will help you improve your score before you try to get a loan and will increase your chances for approval and a better interest rate on your loan.

You may also want to consider getting pre-approved before shopping for a vehicle. This will give you a rough estimate on how much you can spend on a vehicle before you get your heart set on one.

Why Hiring a Local Attorney is so Important

2/28/2020

When you need to find an attorney, doing a search on the internet seems like the best way to find just the person you need. However, doing a search can give you names of attorneys who aren’t the right fit for you.

For example, if you purchased a vehicle that isn’t what the seller promised and that person refuses to let you return the car or help with repairs, you may need an attorney that understands the “Lemon Law.” When you search the internet, you may get a long list of names of national attorneys, but they may not know the local laws and customs in your legal community.

When you call, the attorney may say they can help you with your case but still may not share whether he/she has successfully handled cases like yours or whether he/she is licensed to file a lawsuit should he/she not be able to settle your case. By hiring a local attorney, you can check into their experience easier and ask friends and family what attorney they recommend.

Here are several reasons to choose a local attorney:

1. Convenience--This reason may be obvious, but many people seem to think that an attorney from a large firm in a big city is always the best option. Some big firms have satellite offices, but if the attorney’s main office is an hour’s drive from the satellite, they may not be willing to meet you as often as you want.

Without a local office, you may be reluctant to set up meetings with your attorney as often as you want because of the time factor. Having to travel to see your attorney just adds stress to an already stressful time in your life. It is also very handy to be able to get from your attorney’s office to court in a short amount of time.

2. Knowing the Attorney’s Reputation--If you just choose the first attorney that you find during your internet search, the only thing you may know about that person is what you read on their web site. By choosing someone local, you are able to ask around about the attorney and the type of cases they usually handle. When you hire an attorney, you want to be sure that they have experience in the type of case you have – family law, personal injury, fraud, etc.

A local attorney is also more likely to want to maintain a positive reputation in their area. You will be able to ask which attorneys are held in high regard with other members of the court system. They will also be more likely to come prepared because of wanting to uphold their positive reputation. An attorney that isn’t local and may never appear in that court again won’t be as concerned about being prepared and making a good impression with the court.

3. A Local Attorney will Know the Right People in your Area--If you choose a local attorney, as soon as you explain your needs, they will more than likely know the people involved in your case and will know who they need to talk with to resolve your case. Knowing the judges, other attorneys and others involved in your local court system gives your attorney a step up towards winning your case.

Someone local will also know mechanics, doctors and other service people who may be called as experts for your case.

4. Someone Local will Know how the Court Operates--It may seem that every court operates exactly the same way, but that isn’t necessarily true. While laws may be similar, every state, even every county, has laws that are specific to that area. Every judge has their own way of running their courtroom and may have their own opinions of what type of arguments are the most persuasive.

Someone who isn’t local won’t know all of this about your local court system. They may inadvertently make a mistake that could cost you your case. When your attorney understands how the local system works, they also know to present your case in the best light.

Some rules that change from system to system include whether to stand when talking to the judge and who has to be at a hearing. A local attorney will know what is expected in your court system and will be able to avoid making simple mistakes. A visiting attorney will never be able to know or remember all of the rules of every court, so a local attorney is always the better choice.

When you start your search for a local attorney, ask friends and family for their recommendations. Even if they have never needed an attorney, they may know someone who has used one. Call local attorneys and schedule a time to meet. The best way to choose an attorney is to discuss your needs and see which one seems to really listen to you and has the most expertise regarding your type of case.

What are the Risks to Having Only Liability Car Insurance?

2/13/2020

Because having only liability coverage on a car insurance plan can lower the cost of your premiums dramatically, many people consider purchasing only that. However, if you have a loan on your vehicle, liability only is usually not an option. Your lender may require proof of insurance to protect their asset. (The Bank wants to make sure it can get its money back if the vehicle is wrecked.)

Having only liability on your vehicle does have some risks. Liability only means your insurance will only cover the costs for the other cars in the event you cause an accident. You will have to pay to repair or replace your vehicle on your own. The policy may also limit what the insurance company will pay the other driver and that means you may have to pay out of pocket to fix the other driver’s vehicle and any damage caused in the accident.

Liability insurance does cover personal injury for injured parties up to the limits of your policy. Each policy is different so you will need to read your policy closely. Again, you are on your own for any medical bills you incur as the result of the accident you caused.

Another thing to consider if you only have liability on your car is that you won’t have comprehensive damage repair. Comprehensive damage includes weather damage, such as hail or flood, or a rock hitting your windshield. If you have only liability and hit a deer, you will be responsible for fixing your car. When deciding whether to go with liability only, you need to consider the cost of repairing your vehicle out of pocket.

When it’s time to purchase or update your car insurance, liability only may seem like a great deal since it is so much cheaper. If your car is only worth a small amount of money, or if you have a large savings, liability may be the way to go. However, if you can’t afford to replace your car or pay for repairs, it may be worth it to pay the extra each month and keep more insurance coverage on your vehicle.

How Technical Service Bulletins Differ From Recalls

2/6/2020

What is a Recall?

When a car manufacturer discovers a safety problem on their vehicle, they start an investigation into the issue. If the problem is serious, they may even stop production of any models that could be affected. Once a solution to the issue is developed, the manufacturer issues a recall for any models that have been affected by the faulty part or programming.

The manufacturer will send out notices to all owners of vehicles with a VIN (Vehicle Identification Number) that could be affected. Recalls are mandatory and must be completed by a registered dealer of that make and model of car. Recalls are free to owners.

What is a Technical Service Bulletin?

Manufacturers track warranty claims. When a common problem surfaces, the manufacturer will usually investigate the problem. Once the manufacturer discovers a solution, the repair procedure is posted as a technical service bulletin.

These service bulletins are a good place for mechanics to start the diagnostic process when someone brings a vehicle to them with a problem.

Technical service bulletins are issued for non-safety issues. They are voluntary and are not free to car owners. However, the problem may be covered under your car’s warranty, or the manufacturer may open a special warranty period for the problem. In these cases, your repairs will be free of charge.

How to Find Recalls or Technical Service Bulletins

You can take your vehicle to a local dealer’s service center where they will look up your car’s vehicle identification number and determine if your vehicle has any outstanding recalls, but this may require a service appointment and may cost you.

You can also find recalls and some technical service bulletins online. Many car forum sites offer this information from people who share what they have learned. You can also check the manufacturer’s website or the National Highway Transportation Safety Administration (NHTSA) website.

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