There are a lot of things that your Car Dealer would rather you not know. Like the fact that you can put anything that you like into it and that it can be serviced by anyone. “It will void the warranty…” If you hear that, ask for it in writing.
We also revisit the subject of separation during this strange days with guest Jeff Guarino and Co-Host Pk Jordan from East Valley Mediator. They cover a lot of great info.
Join us. Learn a little, laugh a little.
Episode Recap
We’re back this week once again with the folks from State Farm and East Valley Mediator. We wonder if PK and Jeff could moderate a mediation between the Jets and Sam Darnold so they can move on?
In this episode, the Gang talks about a new car service that helps match drivers to the right mechanics for their needs, the financial implications of getting divorced and buying a new home, and more of the mistakes that buyers make when buying a home.
Friendly Takeaways
- If a car dealership tries to void your warranty because you used non-factory parts, call them on their bluff.
- It’s illegal to void a warranty this way according to the Magnuson-Moss Act.
- Consider donating to College Bound AZ, a nonprofit in Arizona that helps provide scholarships and other donations to students who are college-bound, but lack the funds to pay for it on their own.
- In today’s rental market, a three-bedroom/two-bathroom home averages $1700-2000/month in Tempe, $1700-2100 in GIlbert, and $2400-5000 in Scottsdale. The problem is that even if these are in your price range, availability is extremely low.
Will Car Savior be Your Saving Grace?
Last week we talked about drivers getting scammed on repairs when they go to a mechanic they aren’t familiar with. But what if there was a service that could help match you to the right mechanic when you are in an unfamiliar place or don’t know what to look for? Enter Car Savior.
So how does it work? When something is wrong with your car, call Car Savior and they’ll interview you about what’s going wrong and attempt to diagnose the issue. Then, they’ll recommend a local mechanic who is best suited to solve that particular problem. Since they aren’t the ones doing the repairs, Car Savior can give you a more objective diagnosis than a potential repair shop who wants to make money from your repairs.
Now, this service isn’t a perfect solution as it’s impossible to perfectly diagnose what’s wrong without diving into the car, so your mechanic may still uncover additional or different issues than Car Savior provided. However, it still will get you closer than if you had tried to diagnose yourself.
While this service isn’t in Arizona yet, Steve may have found a new project for his business to help with those on the West Coast.
Money and Divorce— Two Ugly Topics That A Mediator Can Help With
A common question that arises when a couple goes through a divorce is what to do with their shared home. There are a few options:
- The pair can keep the home and continue living in it with new arrangements
- One spouse can buy out the other spouse
- Refinance the house based on one spouse
- Sell the house
But what happens if you choose to sell your house, but one spouse wants to buy or rent a new place before the deals on your old house and the official divorce are finalized? You need to sign a non-purchasing spouse agreement.
There are also important considerations for your loans. For example, if you aren’t eligible for a loan based on your income alone because you previously relied on your spouse’s income, you can use child support payments as evidence for loan eligibility. However, the child support payments must continue for at least three years after the divorce, so if your child is 17, this won’t work.
So You Decide to Sell, What Are the Must-Dos to Prepare for the Market?
It’s a seller’s housing market, so do you really need to make those repairs? With buyers snatching up houses quickly nowadays, won’t they overlook them? Felecia says no, you should definitely still do the repairs even in a seller’s market.
Repairs show better and you get top dollar. Buyers don’t overlook repairs—You can’t sell garbage and expect to be paid for gold. So many new homes are being built, that even if buyers are going to end up with a used home, they’ve probably still seen a new home in their search and that provides a point of comparison.
What are the must-fix items? Felecia says there are five primary things you MUST address repairs for — air conditioners, roof, electrical, plumbing (the most often missed by homeowners until inspection!), and termites. No one will provide a loan to buy a house with termites. Some secondary things can help seal the deal on a sale like uniform flooring throughout the house, uniform paint color, and clean landscaping.
Mistakes that Buyers Make
In a competitive market, home buyers are often offering to pay a certain price even if it is above the house’s appraisal value. In those cases, an agreement has to be signed from the buyer that if this house doesn’t appraise at a certain value, I’ll bring cash to make up the difference. Some people say to absolutely avoid paying above appraisal cost, but Felecia thinks it isn’t so cut and dry. Whether or not to pay above appraisal value: depends on why you are buying the house:
You should pay above appraisal (if it’s in your budget) if: You have young kids and this is going to be your home for the next 10 years. If you love the neighborhood and everything lines up, pay the money and buy the house. In 10 years, barring recession, you’ll likely make your money back if you want to sell.
You should not pay above the appraisal value if: You’re only going to stay 3-5 years and your guarantee on making your money back based on the market is more risky.
Wrap Up
Until next time, Stay Healthy and Drive Friendly, Arizona!
