Car Buying
Contacts
Richie Axelsen/ President Owner, Auto Buying Assistant (ABA)
Mobile: (207) 838-6082
Office: (207) 447-9961
Email: info@autobuyingassistant.com
Richie is very experienced, user friendly, and has great contacts with dealers and bank loan agents.
Lou Couture/ Sales & Leasing Consultant, Rowe Ford
Office: (866) 753-7011
Email: info@autobuyingassistant.com
We found him to be transparent, ethical and fair.
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