Protect My Investment

Protect Your Investment

This week I attended a networking meeting in Dayton, called Simply W.O.M.E.N. One of the presenters, Stefani Holley, was from American Family Insurance: (http://www.facebook.com/StefaniRHolley) She mentioned some interesting facts about auto insurance:

Did you know: If you hit an animal that tried to run across the road in front of you, your damages will be covered by your comprehensive coverage on your insurance, but if you swerve to miss the animal and hit something else, you will have a collision claim and could have to pay a higher premium, depending on your policy, so think real hard before you decide NOT to hit the animal.   My comprehensive coverage has a $100 deductible, but my collision coverage has a $500 deductive. Collision claims are chargeable, so if you have a collision claim rather than a comprehensive claim, your premiums may go up...you will also be more at risk of hitting someone or something else like an uninsured or under-insured driver...

Do you know the state minimums for personal injury and property damage? 

The state of Ohio requires all drivers to have $12,500 for bodily injury claims, but caps this is $25,000/accident, so if there are more than two people in the car, they have to divide this total and get less than $12,500/person. Do you think $12,500 will cover most medical expenses for car accidents?

The state of Ohio requires all drivers to have $7,500 in insurance for property damage. So if you've just purchased a new car (most of them are worth more than $20,000), you will only get less than half of what you have invested if you are in an accident that is not your fault and the other driver only has "state minimum" coverage.

Stefani told me that these limits were set in the 1970s and haven't been re-calculated since! (Pay attention to changes that are set to take effect in March.)

So how can you protect yourself: 

1. Uninsured/under-insured motorist Coverage pays for bodily injuries suffered due to being hit by a driver without any or enough insurance, so as you are selecting your options for your insurance, choosing this coverage will protect you, if you are hit by a driver who has not insurance or not enough to cover your injuries. 

2. Collision Coverage will help you if you are hit by an uninsured/under-insured motorist. Your collision coverage will kick in if needed to pay for your property damage.

3. Umbrella Coverage might cover your expenses above state minimum (or if the under-insured motorist cannot pay for all your expenses). Stefani told me that American Family Insurance umbrella policies have an endorsement that allows it to pay out for these claims, but some major insurance companies do not have this endorsement, so ask your agent to be sure. Having this type of policy can also help you if you are sued for other issues not covered by your standard home and auto insurance.

It's a good idea to understand your insurance policies completely...I know it looks like a lot of reading, but talking with your agent will help you understand what you have. If you are making a switch or you need insurance, I am sure Stefani will help you out:  (http://www.facebook.com/StefaniRHolley) 

How can I save money buying a new car?

Special programs are savings opportunities that many car buyers don't know about.

Here is a list of Chrysler Special Programs that very well could save you money on your next vehicle purchase:

Honoring those who serve

This special offer is for those who've risked their lives defending us. If you're Active, Active Reserved, Retired Military or Retire Military Reserve you're eligible for up to $500 in bonus cash under our Military Incentive program. The offer applies to 2012 model year vehicle purchases and leases on all new vehicles (excludes SRT models, Viper and FIAT® Abarth).

Stationed Overseas?

You may be eligible for even more savings. Have your dream vehicle waiting for you.
Visit http://www.encs.com/default.aspx for more info.
View Rules

Bringing you more ways to get you where you want to be

Designed to help customers with permanent disabilities enter, exit and/or operate a new vehicle, Chrysler's Automobility Program can help you do the things you love to do in life. Our goal is to assist in lessening the burden of the financial cost of modifying your vehicle.
Chrysler Group will give you a cash reimbursement, of up to $1000, to reduce the cost of installing adaptive driver or passenger equipment on your new vehicle.
For more information visit http://www.chryslerautomobility.com

Learn More

(800) 255-9877
Hotline Hours
8 a.m. - 8 p.m. ET Mon - Fri
(855) 409-0475

rebates@chrysler.com
AUTOMOBILITY PROGRAM HEADQUARTERS
P.O. Box 5080
Troy, MI 48007-5080


Conquest Program -This program offers current owners or lessees of Volkswagen vehicles (excluding Volkswagen Routan) a $1000 rebate applied toward the retail purchase or lease* of eligible Chrysler, Dodge, Jeep and Ram vehicles. (For complete details and a list of eligible vehicles call Golling's New Car Sales department at 937-276-5056 or visit our website) The Volkswagen does not have to be traded to be eligible for the conquest program. 

National Association of Realtors Program- This program offers eligible employees, family members and members of the National Association of Realtors a $500 cash allowance to be applied toward the retail purchase or lease of an 2012 Chrysler 200, 300 or Town & Country. Members of the National Association of Realtors are also eligible for On-The-Job 2-year No Charge Lube-Oil-Filter. (For complete details and a list of eligible vehicles call Golling's New Car Sales Department at 937-276-5056 or visit our website)

United Services Automobile Association (USAA) Program - This program offers eligible consumers a cash allowance certificate of $500 or $1000 to be applied toward the retail purchase or lease of an eligible vehicle. The certificate will be delivered to eligible USAA members electronically via USAA's onlye car shopping service. Only one certificate will be allowed per each eligible vehicle. The customer may redeem this certificate at any authorized Chrysler Dodge Jeep Ram dealership. Eligible vehicles must be delivered during the program period.  (For complete details and a list of eligible vehicles call Golling's New Car Sales Department at 937-276-5056 or visit our website)

FFA (Formerly Future Farmers of America) Member Program - This program offers eligible FFA members and alumni a $500 cash allowance applied to retail purchase or lease of an eligible vehicle.  FFA members and paying alumni must show proof of membership to be eligible. (For complete details and a list of eligible vehicles call Golling's New Car Sales Department at 937-276-5056 or visit our website)

We also have special programs for certain geographical areas, small business owners, employees, and family members of employees.  Contact Golling's New Car Sales Department at 937-276-5056 or visit our website for more information.

Do you have a suggestion for a special program? Please share your ideas.

Why trade in my car?

Why trade-in?

Trading in your current vehicle towards another can partially offset the cost of the new vehicle. The trade-in's net value goes towards the purchase or lease of a new car. Conditions of a trade-in vary depending on who owns the vehicle.
If you own the vehicle, trading-in means that you're selling the car to the dealer for some determined price. As a result, the price of the new car goes down.
If you are leasing a vehicle and do not own it, trading-in means that the seller of the new car agrees to pay the outstanding costs associated with the lease. Depending on the financing of the new vehicle and the outstanding balance on the old one, trading-in can either raise or lower the new car's price. 

Why is it beneficial to trade-in?

When you trade-in you don't have to worry about selling the vehicle yourself or any of the associated costs (advertising, showing the car, etc). A dealer may offer a price you could not get yourself as an incentive to purchase a new vehicle. If the trade-in has known problems that could plague you later (when the buyer returns complaining), selling the car to the dealer eliminates the bother. Trading-in a lease car may relieve you of, in the long run, monthly costs you cannot afford. Sometimes people trade in lease vehicles because of poor gas mileage or lack of practicality.

Why decide against trading-in?

If you think you can get a better price selling privately, and it's worth the time, money and effort, do not sell to the dealer. Some cars are of special interest and dealers will not always recognize those interests.

What happens to a trade-in?

Some are kept by the dealer and resold as used cars. Many are sent to auction and purchased by other dealers for resale. Dealers know that auction prices often will not match the sum credited toward a new vehicle, but they absorb the losses as sales incentives.

How much can I expect to get?

Check used car values in guides issued by organizations such as Edmunds.com or the National Automobile Dealers Association (NADA). Often both trade-in and private sale values are listed. Factors such as mileage, overall condition, damage and known mechanical problems heavily influence the trade-in value.

When you're ready to trade in, check out our new and pre-owned car inventory for your next ride.
You can also get an estimate for your trade through AutoTrader Trade-In Market Place.

How do loans and leases differ?

Is it better to lease or buy? 

When you take out a loan, all of the money used to pay it off applies to your eventual ownership of the vehicle. The initial down payment and principal on the loan cover the total cost of the purchase.

Lease payments, however, apply only to the use of the vehicle. The total sum of payments covers the vehicle's depreciation over the time you drive it and is usually less than the outright price of the vehicle.

When is ownership transferred?

When paid in full, a loan terminates and you assume ownership. Your bank sends you the title that had been held while the loan maintained an outstanding balance.

When a lease period ends you forfeit the vehicle to the lessor, unless the lessor offers to sell the vehicle afterwards. During the entire lease period the lessor maintains ownership and simply allows you to use the car. Ownership is only transferred if you chose to buy the vehicle after the lease terminates.

How are monthly lease rates determined?

In formulating a monthly payment structure, a lessor is primarily concerned with the extent to which the vehicle will depreciate throughout the lease and the cost of borrowing money to finance the car during that period.

Three key elements:

• First, the adjusted capitalized cost is determined. This figure represents the real purchase price after elements such as the down payment, incentive discount and trade-in credit are deducted from the capitalized (actual) cost, while any fees or charges (e.g. destination) are added.

• Second, the residual value, or estimated value of the vehicle at the end of the lease, is determined and then subtracted from the adjusted capitalized cost to yield a depreciation figure. The residual value depends on the length of the agreement, expected mileage and make/model of the vehicle.

• Finally, a lessor assesses the money factor, a number that correlates with the cost of borrowing money during the lease period.

While these terms may seem unfamiliar, the Federal Reserve Board now requires dealers to publicize all leases' down payment amounts, lengths, residual values and interest rates.

What factors determine the purchase price at the end of a lease?

Most leases rely exclusively on the residual value in determining the end of term purchase price. These closed-end deals require you to pay the fixed residual amount regardless of the actual market price.

Open-end leases work differently in that the actual market value helps determine the purchase price. As a customer you are responsible for any difference between the residual and actual value when buying outright.

Giving Back

Several days before Hurricane Sandy arrived on our East Coast, knowledgeable, well-equipped weather experts warned everyone that it could be one of the worst storms we've experienced, but even with a week's notice, there was devastation that could not be avoided, including destruction of roadways, subway systems, offices, homes, hospitals, schools, and churches. The storm was going to do it's damage, so who is ready to clean up after this kind of wreckage? Who has the energy, manpower, and know how to take it on? 

The American Red Cross (+AmericanRedCross) has been ready for natural disasters, the effects of war, terror and many other damage causing occurrences, for over 100 years. 

"Clara Barton and a circle of her acquaintances founded the American Red Cross in Washington, D.C. on May 21, 1881. Barton first heard of the Swiss-inspired global Red Cross network while visiting Europe following the Civil War. Returning home, she campaigned for an American Red Cross and for ratification of the Geneva Convention protecting the war-injured, which the United States ratified in 1882.

Barton led the Red Cross for 23 years, during which time we conducted our first domestic and overseas disaster relief efforts, aided the United States military during the Spanish-American War, and campaigned successfully for the inclusion of peacetime relief work as part of the global Red Cross network–the so-called “American Amendment” that initially met with some resistance in Europe." (Excerpt from the American Red Cross Website)

So when the effects of Sandy were setting in for hundreds of thousands of families on the east coast, Dan Kirk (our General Manager) did not stutter when he said, "Let's donate to the American Red Cross."

We received a letter this week explaining where our contribution was put to use: 

"Across the Eastern Seaboard, the Red Cross Mobilized to meet the challenge of Sandy as the threat from the storm grew. Shelters hosted people seeking safety as power failed and communities flooded. Meals gave residents nourishment and comfort, while Red Cross workers alleviated fears. We coordinated with our partners to ensure relief was at hand as Sandy made landfall, and we remained on the scene as the storm passed and the extent of damage was revealed."

We want to thank The Red Cross and all of their employees and volunteers for helping so many people during these very difficult times. They not only provide the tangible things needed but they also lend the emotional support that makes all the difference.

When your tires tire...

When you buy a brand new car, you get brand new tires on that car. They have a tread of usually between 10/32 and 15/32 of an inch. Within a couple years (depending how much you drive the car), those tires will need to be replaced. You can use a tread depth gauge to get the exact depth of your tires tread. Tread can be different on each tire so it's a good idea to get the depth of each tire.

Tire depth gauges are smaller than a pen. You can purchase them at any car parts store, or you can stop in to our for a free assessment of your tires.

We keep many tires in stock: Continental, Dunlop, Firestone, General, Goodyear,  Hankook, Kelly, Michelin, Nexen, Uniroyal, and Yokahama. When you purchase similar tires to the ones that came on your vehicle, road hazard protection is included. This means that if you hit something on the road that damages your tire, we will fix or replace the tire for free.

Replacement tires can cost anywhere from $79.95/tire to $339.95/tire depending on your vehicle. Because tires can be a costly replacement for your vehicle, we always give you an A, B and C option for their budget and driving needs.

• The C option is a good tire, it will definitely be a good fit for your vehicle, but might not last as long as the better or best options. 
• The B option is the better option; it will have a longer warranty and will last longer than the C option. 
• The A option is the "best" tire recommendation for your vehicle, it is likely the most costly option, but will have a longer warranty and mileage expectancy.

Most new tires on the road are either "all-weather" or "winter" tires. Winter tires are not meant to be used all-year-round, but are better for winter driving because the rubber formula is compounded differently and is more flexible in colder weather. If you do some heavy winter driving, you might want to get winter tires, otherwise, for everyday driving, "all-weather" tires will work just  fine.

Tires should be replaces at 3/32 of an inch tread left. If your tire tread is less than  the 3/32, you should not be driving on it. Tires cannot do their job with less than 3/32 tread.

Rotating Tires regularly (every other oil change) will increase the life of your tires by 30 %.

Is it a myth that the condition of your tires will effect your gas mileage? No - under inflated tires can have a negative impact on your gas mileage, so keep them filled to the appropriate weight depending on your tire. Your car's manual should have a chart for your tire pressure.

You can get tire options and pricing for your Chrysler, Dodge, Jeep or Ram vehicle(s) on our website.

Demonstrators - A Win - Win

What is a Demonstrator?

Demonstrators are brand new model year vehicles that managers drive. Why would they want to do that? What are the benefits to the dealership?

• If a manager drives a car they know more about the car. Managers can do their job better if they know what they are selling. 
• Demo cars can be driven until they have 5,000 miles on them, so a manager gets to drive many vehicles rather than being committed to one over period of time. They can get to know more than one make/model so they can become more knowledgeable about each one and appreciate their differences.
• Driving their own makes/models wherever they go in the community can increase exposure to the dealership. It's a great way to show interest in their product and talk to others about their features and benefits.
• When I run work-related errands during a work day, I often drive one of our cars from the lot. It makes for great conversation and it give me a personal experience in that particular vehicle. The last car I drove was the Jeep Wrangler Unlimited. I love the four-door convenience. The drive was really smooth. One thing I learned was that the electronic window opener is on the dash of the car rather than on the door...different than any other car I've driven.

• Technology changes so fast, driving demos allows a manager to be exposed to all the latest bells and whistles.
• Many times, the dealership gets positive word-of-mouth when they sell a demonstrator vehicle; buyers like to talk about their experience and the great price.

How do they benefit the buyer?

• The first 5,000 miles put on a new car are often called "wearing in" miles. Once a car reaches 5,000 miles it will be much more comfortable to drive. 
• If there were any problems out of the factory, they would have been found by the manager and the maintenance crew is near by to perform regular maintenance in a timely fashion. 
• Experienced buyers buy demos because they know they get a sweet deal and still get the new car experience. Demos here now are priced $7000 under MSRP. 
• Demos are usually mid-range or high-end models, so the buyer gets more extras for less investment. 
• The original factory warranty is still valid. Out the door, demo buyers get a great deal and piece of mind.

 We rotate through demonstrators pretty regularly. We have several on the lot now. The end of the year is the best time to pick up a car and save.

Go Gollings! Where it's about the deal!