Delivering brutal honesty, this important Handbook will shock you with the truth about how much money consumers lose each year going through the current Auto, Mortgage, and Real Estate processes. The numbers are staggering, as unsuspecting consumers are overcharged more than $2.9 billion in excessive fees and inflated mortgage commissions. Add to that over a billion from inflated real estate fees and hundreds of millions in excessive auto purchase commissions. All totaled, more than $24 billion annually is pulled from consumers’ pockets due to predatory mortgages, auto loans, payday loans, overdraft loans, excessive credit card debt, and tax refund loans.
See exactly how these companies are stealing your money, and learn easy to follow, How-To-Torials, for big savings! At the time this book first hit press, Americans had amassed $9 trillion in mortgage debt with 33% of that being in Adjustable Rate Mortgages. Foreclosures, and bankruptcies were rising at historic rates, and consumers were being forced into credit counseling. With an expected 43% of ARM loans resetting between 2006 and 2008...this book is right on time!
Millions of Americans need to know “how to” protect themselves from high fees and commissions, and it's all inside this book. Consumers now have valuable advice to use when buying a new automobile, buying or selling a home, or finding a loan.
Take back control and be more engaged in your auto, mortgage, or real estate transaction. By understanding the process, you can have more control. With control, you will save money!
The charts, graphs, and scripts provide a down-to-earth example of what used to be a very complex process that few understood. Now, everyone can learn the ins and outs of the three massive industries that, before John Callahan’s illuminating book, had an unfair advantage over consumers.
Auto Finance 101: Unless you’re paying cash, the most important component to the sale is finance. Here are some items you need to focus on during the finance process.
1. You have a right to see your credit report. It is important to know your FICO score before you begin the process. If the dealer does run it, they have to show it to you. If they don’t, they are being less than ethical. 2. You should ask to see the “rate book” so you know what rate is available and be sure that this is the rate they are putting on the sales contract. If they mark up your rate – it adds to their profit and you lose money. 3. You can negotiate the Pack out of the deal – you should do this with the Internet sales manager before you get to finance. 4. If you buy an extended warranty you should ask to see the COST. The finance manager has a list of sales price and cost. Negotiate this to $100 over their cost – this is a fair profit to the dealer. NO MORE! 5. Do not buy fabric protection, window etch or security systems at the dealer. These items are usually marked up a lot. If you want what they have, be sure to negotiate it and ask to see the book of cost. If they don’t show you the book they are hiding something. 6. Watch out for moving numbers – when they move money from your trade to the new vehicle, it gets very confusing – this tells you that they are adding profit somewhere that is hard to see. 7. Know what your trade is worth. The dealer will attempt to convince you that your trade is worth $1,000 less than it is. They always make money on trades. You are always better off selling your vehicle yourself.
About John Callahan
John Callahan has over 20 years of experience in operations, marketing, and business development. In 1999, John was published in Entrepreneur Magazine, as a “Hot 100”, for building one of the Fastest Growing Small Businesses in America.
John has held executive roles for National mortgage and automotive firms, so his experience comes from direct knowledge of inside business principles. Time and again, John was troubled by what he saw at many firms. Having been schooled extensively in Deming’s philosophy of Total Quality Management (TQM) and process improvement, John knew there was a legitimate way to acquire and retain satisfied customers with a valid value proposition, but few would listen. If big business was going to keep stealing people’s money, John would take the facts to the consumers in an effort to empower them. So in 2006, the Empowered Consumer movement was born – resulting in the HowToTorial handbook and its website www.howtotorial.com.
There is no one more capable of educating consumers with the mortgage and auto transaction processes than John. It’s time everyone knows the facts behind the three most aggressive industries that have been stripping wealth from families by overcharging for fees and services. It's time people know the truth.
Delivering brutal honesty, this important Handbook will shock you with the truth about how much money consumers lose each year going through the current Auto, Mortgage, and Real Estate processes. The numbers are staggering, as unsuspecting consumers are overcharged more than $2.9 billion in excessive fees and inflated mortgage commissions. Add to that over a billion from inflated real estate fees and hundreds of millions in excessive auto purchase commissions. All totaled, more than $24 billion annually is pulled from consumers’ pockets due to predatory mortgages, auto loans, payday loans, overdraft loans, excessive credit card debt, and tax refund loans.
John Callahan has over 20 years of experience in operations, marketing, and business development. In 1999, John was published in Entrepreneur Magazine, as a “Hot 100”, for building one of the Fastest Growing Small Businesses in America.