How Can We Help?

Car Buying


Richie Axelsen/ President Owner, Auto Buying Assistant (ABA)
Mobile: (207) 838-6082
Office: (207) 447-9961
Richie is very experienced, user friendly, and has great contacts with dealers and bank loan agents.

cPort Credit Union
cPort CU has lowered restrictions on Auto loans. New borrowers are no longer asked to provide 20% down payment as it was the default for people with no credit history or less than 2 years of credit history. We can now lend up to 100% Loan-To-Value (barring any major red flags, no credit is still better than bad credit).

ProsperityME has a series of great workshops for mentees (& anyone else) about how to budget, establish credit & make contractual decisions. Strongly encourage the mentee to take advantage of these workshops.

Key Points

  • The mentor should never co-sign a loan for a mentee.
  • The mentor and mentee should discuss the following issues with the assumption that, in most circumstances, the goal is reliable transportation, not owning a car.
  • Determine how many times a week the mentee needs the speed, convenience and flexibility that private transportation (i.e., car, taxi, Uber) provides vs. regular bus service.
  • Estimate how much it would cost per week/month to liberally use a combination of public and third-party private transportation.
    Confirm the mentee has a valid drivers license.

Financial Questions

  • How solid are the mentee’s work hours? Do they fluctuate?
  • What are the mentee’s regular expenditures:
    • Take-home pay
    • Rent
    • Food
    • Child care
    • Phone/internet/cable
    • Utilities
    • Miscellaneous
  • Has money been put aside for:
    • Emergencies
    • Immigration lawyer
    • Asylum legal fees

Car Expenses

  • Driving lessons (if necessary)
  • Purchase price/monthly payment
  • Yearly excise tax/car registration
  • Insurance
  • Fuel and maintenance costs