Adam Goldfein is the host of TV’s AutoScoop on CW69 and the Adam Goldfein Radio Show on AM 750 and 95.5 FM News/Talk WSB. With his insider knowledge from years of operating auto dealerships, as well as being a licensed lawyer, Adam presents sound and knowledgeable advice on all car-buying concerns.

Through our partnership with Adam Goldfein, Adam is here to answer your questions relating to the automotive world, including warranties, repair facilities, DUI lawyers, online resources, after market accessories, auto clubs, and much more.

Scroll down to check out what others have asked Adam. If your question is still unanswered, ask Adam by completing the following form.

Adam's Answers

Robert asks "Hello Adam and thanks for your service on 99.5FM. My question is related to a 2006 BMW 750Li built in Germany that my sister purchased 3 years ago from here, shipped to Europe, registered and used the car there, and now I want to buy it from her and bring it here in Atlanta. What do I have to do when the car arrives in the US port and also how can I find out how much would be the duties and other fees for this car?"
Robert, there are a couple of things you'll need to watch out for - first and foremost whether you can actually register and re-title the vehicle here. Check with your local DMV (tag office) about the requirements. I'm assuming that the title has been transferred to Germany. Also, there may be emissions issues. Typically a vehicle must comply with current US emissions to be registered - and I wouldn't know what changes if any were made to the vehicle and whether it complies with the current requirements. Regarding duties, taxes, and insurance, you need to check with a transport company to determine the actual fees remember - that you'll need to insure the vehicle to the port - e.g. F.O.B Augusta. Finally, makes sure that the vehicle can be insured - again with the change of title, etc.

Karen asks "When I sell my car to a private party, do I pull the license plate and keep it? How do I pay off the lien - do the buyer and I go to the bank together and pay it off?"
You would take your plate off the car you're selling and either transfer it to the next vehicle you're buying or return it to the Tag Office. In Georgia, the tag follows the person not the car. As far as the lien, it will have to be paid off before you will receive the title from the lender - so you can either go together and pay it off and then sign over the title; or the buyer can make the check payable to you and the lender (you would endorse it first, then send it to the lender for the payoff). Remember you're responsible for the outstanding loan regardless of whether you're selling it for more or less than the outstanding balance.

Sheila asks "I filed for bankruptcy, and now I am getting all of these auto offers in the mail. I would like to buy a new car, but unsure about where to go, and whether my payments would be affordable. What should I do first? Thank You."
Sheila, first, you must decide whether to try to buy a car before your bankruptcy is discharged or after. If you wait until you're discharged, it's easier to get approved and your interest rate will be lower. Most dealers can provide you with financing in that situation - you must keep the cost of the vehicle low to ensure a low payment. Don't look at any vehicle costing more than 1/2 your income. If you make 30,000 - then stay under 15,000. Also, don't finance for a term longer than 66 months. If you do need a car while you're still in bankruptcy, you'll need the approval of your Trustee - before you can do anything and he/she will put certain limits on what you can do. If you have a bankruptcy attorney - speak to them if you're in the middle of your case.

Cennie asks "I own a 2008 Toyota Camry. I owe too much on this car (Hybrid) and need to downgrade. How do I go about downsizing to another vehicle with lower payments? I traded already to get this car now realizing it's too costly for me."
Cennie, you'll have difficulty lowering your payment unless you can (1) pay off the negative equity; or (2) add the negative equity to the next loan without ending up with an amount financed equal or greater to your current loan. Typically, when you add negative equity you can end up with a payment close to your existing payment. The solution: either use more down payment or wait until you've paid off more of the loan.

John asks "Do you save the money and headache buying through the Costco or Sam's car buying programs?"
John, those are great programs - but remember, you have to make sure the dealer honors the deal; and if you want to buy from a different dealer - just use that price as a negotiating tool for your dealer of choice.

Agnes asks "I am interested in purchasing a 2012 Honda CRV. What do you think about the Honda CRVs? Which is a better car, Honda or Toyota? Should I buy a new or used vehicle?"
The CRV is an excellent vehicle and the new re-design is very popular. All things being equal - look towards a new one (since prices of used vehicles are historically high right now). Between Toyota and Honda - you cannot make a mistake - so it really comes down to personal preference.

Dwight asks "What is a good price to pay for a 2009 Lincoln MK S with 42k technology package?"
The average retail price for the vehicle is between $23,000 and $25,000.

Margaret asks "What's the best time to buy a 2012 Honda CRV? And what is the mark up on this vehicle? Thanks!"
The best time to buy a 2012 is between now and the end of July. You'll have the best opportunity to both negotiate and to have selection from inventory. After July, inventory will start to dry up and the negotiating will get tighter. There's approximately 6-8% mark up in the vehicle.

Quintin asks "Is a credit score of 639 OK for an auto loan and/or house? Do child support balances on credit affect chances of being approved and if so how?"
Quintin, a 639 score by itself is below average, but the score itself is only one aspect of your credit - the lender will also look what types of credit you've had, how you performed - and whether there were any reasons for your late or missed payments, your income, as well as the vehicle you are looking to buy. As far as child support balances, they may not appear on your credit report at all; check www.annualcreditreport.com to pull a free report to see what is, in fact, on your credit file.

Kelsie asks "I have had a forclosure, bankrupty in 2000, and I have a 2007 Ford Five Hundred that I've been paying regularly for 2 years. I never had a late payment. Is it time to refinance or trade it in? My payments are high due to the high interest rate. I want to lower them or turn in my car for a cheaper car with lower payments. What should I do?"
As far as trading, you will need to do a few things: (1) look up the value of your vehicle and (2) get a payoff from your current lender. Then (3) compare the two and if you owe more than the value - that additional money will be "negative equity" which will have to be paid or added to the next loan - which will only require more down payment. As far as refinancing - you can always apply - but like the trade discussed above, the vehicle needs to be within the lender's requirements as to the loan versus the value of the vehicle. You typically cannot refinance negative equity.

Brittany asks "Can I get an auto with just my permit if I buy from a private seller and put someone who is licensed on the title and then get it switched over?"
Brittany, you should not put someone else on your title and misrepresent who is the buyer/owner of the vehicle. Instead, let's do it right to avoid problems now and in the future.

Al asks "Hello Adam, I really enjoy listening to the advice you give on your show. Which is a better deal: a new 2012 small car for $xxxxx.00 or a 2011 midsize car different make/model with low mileage for around the same price? Thank you. Al"
What a great question. They are probably equal in value - the difference will be what your needs are. Is fuel economy more important or size? Both vehicles will have a warranty and similar interest rates. So it comes down to use of the vehicle and fitting your lifestyle. Regards, Adam

George W. asks "What should I be paying for a 2012 Chevrolet Malibu 1LS? (MSRP is $23,255) The local dealer here in south GA is offering cash allowance up to $2,500 or 0.0 APR for 60 months if you purchase by 2/29. I don't plan to do that."
George, you need to do 3 things: (1) go to www.edmunds.com to build out a similar vehicle so you can see the MSRP and Invoice prices for the vehicle; (2) check the Chevrolet website for the current incentives - both low interest and rebate data - usually it's listed under "current offers" on the website; and (3) email at least 2 other dealers asking for specific prices so you can compare to the price your local dealer is offering as well as the information you've gathered online.

B.J. asks "Hi, Adam. I listen weekly! My son has a 1999 Buick Park Avenue with all the bells and whistles on it. Your opinion, please, as to keeping it with customary maintenance (it has 4 tires just a few months old), or selling it and purchasing a newer, smaller vehicle with less maintenance since rates are so low?"
I would recommend you first decide what your goals are. If you're looking at the least expensive option - then it's putting both your current vehicle and another vehicle side-by-side to see which will cost more (monthly loan + maintenance + insurance + gas); if your goal is to keep the Buick - then simple routine maintenance will be affordable and I wouldn't change vehicles until you thought repairs would cost $1,500 or more a year. Interest rates are predicted to stay relatively low for the foreseeable future. So I wouldn't jump into more debt unless it served a goal you wanted to achieve.

"I am in the process of taking over payments of my ex-husband's 2010 Honda. He called the dealership in order for me to take over payments and transfer into my name and they said I would have to refinance the car. This is all new to me. What is the process?"
The dealer cannot assign the finance contract. That is an agreement between the lender and your husband. To remove your husband's name and put your name on the loan - you would essentially be "buying" or "refinancing" the vehicle. The result would be paying off your husband's loan and starting a new loan with you. If you want to proceed - I would recommend speaking with someone at ACU about getting approved on your husband's vehicle - so your loan can pay off his loan.

"What should I be paying for a Nissan Murano SL - and how do the model years 2011 and 2012 compare?"
There is approximately 6% mark-up on the Murano. So if you reduce the MRSP by 6% that would be a fair price to offer the dealer. And if you are looking at a 2011 model, it also has a rebate from the manufactuer - up to $3,500. Please remember, that these offers have date and credit restrictions. Go to www.nissanusa.com for more information.

James V. asks "Adam, what should I know to make sure I am treated fairly by dealerships when negotiating new car purchases with a trade in? What tricks or cons should I be on the look out for? Should rebates be deducted from MSRP or Factory/Dealer Invoices? Should trade in value be deducted from MSRP or Factory/Dealer Invoices? Any help you can provide would be greatly appreciated."
James, the best way to feel comfortable with a car purchase is to become informed. Information is the great equalizer. Remember that a car purchase is 3 transactions: (a) purchase of a vehicle; (b) trade of a vehicle; and (c) financing. Keep your eye on all three pieces. As far as rebates - they are discounts offered by the manufacturer and are deducted from the price AFTER the discount offered by the dealer. So you get both a discount and rebate. However, the rebate is only deducted after the vehicle is taxed (so it doesn't reduce the price which is taxed - instead it's treated like more down payment). Your trade, however, is treated differently. It will reduce the amount you have to pay on new vehicle BEFORE sales tax. So it actually helps you reduce the amount of sales taxes you pay.

Lisa asks "Our daughter's 2006 Nissan Pathfinder was involved in a hit and run accident putting a significant dent in the rear bumper. We have a police report, the guy's tag number, etc. and our insurance company will have to pursue his to make him pay. We were planning on trading in the car the day the accident occurred. Should we get the car repaired before we trade it or trade as-is? There is a loan balance on the car and we may be slightly upside down. We are trying to decide the time value versus car value. Thank you."
Lisa, if you've filed a claim with your insurance company already, they can pay for the repairs so you can trade it without the deduction for any unrepaired damage. However, that being said, make sure you also are reimbursed by the insurance company for the loss of value you have suffered as a result of the damage/accident. That is referred to as "diminished value" and you are entitled to be paid for that in addition to the cost of the repairs.

Ricky H. asks "How can I find the price for a used car and what I should pay for it? It will be a 2009-2010 Ford Mustang. Coupe model hard top."
Ricky, look on www.kbb.com and www.nadaguides.com for values of the vehicle and compare the trade in prices with the prices being asked on www.autotrader.com. You should try to pay a price in between the asking prices and the trade-in prices.

Kim A. asks "I am looking to purchase a car after a bankruptcy. I have seen places like Pars Cars, which match your down payment up to $2000.00 and offer a flat rate of 14.99% interest rate. Is this a good place to start? Or can you recommend somewhere here in the Atlanta area that you know won't try to "get over" on me in light of my situation. I am looking to re-establish my credit and want to make the right decision not just a good decision."
Kim, thank you for the email. You are asking a very important question. After a bankruptcy has been discharged, you have what is called a "fresh start." Consider it a new beginning. That being said, there is no reason whatsoever for you to lower yourself to a buy/here/pay/here seller. You should, instead, be looking for a vehicle that is newer, costs less than $15,000, is priced fairly, is still covered by a warranty (or is new), and has reasonable financing terms which are reported to all 3 credit reporting agencies. Start with your Credit Union, then go to a traditional new car dealer for help. Just be reasonable with your expectations. Don't expect to be driving a Lexus or Mercedes. Think "new beginning!"

Andre G. asks "I am thinking about getting a car and going through my Credit Union. Is this a good idea? And I was thinking about getting a Volkswagen Jetta. What do you think about this car and is it a good idea to go through my Credit Union? I want a low monthly payment."
Andre, without doubt, the smart way to buy a vehicle is to use your Credit Union. The VW Jetta is a terrific vehicle. VW has had amazing success with it since lowering the price - it's now one of the best values and drives exceptionally well. Definitely a top pick.

Philip R. asks "I am in the market to purchase a Sienna minivan. What is the best way to know the prices being quoted are accurate and fair? I want to purchase within the next two weeks. I am considering new and used with low miles."
Philip, thanks for the email. Go to www.truecar.com or www.edmunds.com to help figure out what a fair price is. Also remember that you can see all of the Toyota incentives on www.buyatoyota.com.

Narnell B. asks "What is the best time of the year to purchase a new car?"
Narnell, the two best times of year to buy a vehicle are at the end of the model year (August) and the end of the calendar year (December). Now there might be better times which occur based on specific economic events - but there's no way to predict them. These other times are traditionally good times - since all manufacturers have sales at the same time.

Frank C. asks "I have a 1985 Ford LTD that I want to donate to a charitable organization. It has about 140,000 miles on it and, although it runs OK, it could use some engine work and a paint job. It's never been in an accident so the body is OK. How do I get a FMV for a car that old? I've looked on the internet and the cars I see advertised are "mint" condition cars and are very expensive. I plan to take a tax deduction for it and need a FMV. Also, do you have any suggestions for a good charitable organization I could donate the car to? I called one organization I wanted to help out, but they said they didn't accept cars older than 25 years."
Frank, thanks for the email. Your vehicle has a value between $300 and $1,000 depending on condition. First off, the IRS treats vehicle donations differently than other types of donations. If the value is below $500 then the charity can simply provide you receipt upon the donation. If the value is greater than $500 then you will receive a slip from the charity when they sell it - for the amount of the sale. As far as charitable organizations, I would prefer not to sway you towards one cause or another. In general, most won't have any restrictions like you've encountered. I'd recommend you think about what is important to you - helping kids? a disease research? military? Then give it another try.

"My car was totaled in November of 2011 and I've been in Chapter 13 bankruptcy for two years. I need another car and I'm looking at 2011 models with low miles. Where should I look for financing approval before I buy?"
If you are currently in a Chapter 13 you will need the approval of the Bankruptcy Trustee before you can purchase or even get approved for a loan. I would recommend that you speak with your bankruptcy attorney so they can discuss what happens to the totaled vehicle and how that vehicle is treated by your bankruptcy plan; as well as requesting permission to get another vehicle. Once you have the approval, you'll be able to go to a dealer who helps consumers in similar situations and arrange financing.

Cassaundra S. asks "What are the best prices for 2010 and 2011 Dodge Challengers and Dodge Chargers?"
The average prices for the vehicles you mentioned are:

• 2010 Dodge Challenger RT: $28,000
• 2011 Dodge Challenger RT: $30,000
• 2010 Dodge Charger RT - $24,000
• 2011 Dodge Charger RT - $28,000

I hope this helps!

Michael H. asks "If you had a bankruptcy can you still get a car loan at a not too high rate?"
After your bankruptcy has been discharged you can get another car loan - however, the rate will higher than if you never had filed for bankruptcy. Remember, financing terms involve more factors than simply filing for bankruptcy. The vehicle you are looking to purchase, your income, the term of the loan and the down payment are just some of the factors which can help you keep the monthly payment under control.

Andrea D. asks "I currently have a 2003 Chevrolet Impala with 137,660 miles on it in which I purchased used. My monthly payment is $252.66. I owe $3,223.08 & it's worth is $1,600 based on 'KBB' in it's current condition. My credit is not bad & I am looking to trade the Impala in to get another car. Should I get another used vehicle or a new vehicle? Also, how does negative equity work with me still owing on a car & getting another car? I'm concerned about paying out too much money when I get another car."
If you're looking for a vehicle under $20,000, considering a pre-owned vehicle can be a better alternative to a new vehicle. If you buy one make sure to check the vehicle history via CarFax or AutoCheck beforehand. And find out if the vehicle is still under warranty. Also, remember, the older the vehicle the higher the interest rate - so if you're considering two similar vehicles and one is newer - consider that vehicle first. If you're looking at a more expensive vehicle - new may be a better choice - especially since you can get financing terms on a new vehicle. As far as "negative equity" - any amount owed on your prior loan which exceeds the value will have to be paid by you - either from your down payment or added to the new loan. Remember, there are limits to how much negative equity you can add to a loan - so be sure to check with the loan officer on how to make the financing work for you.

Anthony L. asks "The South Carolina DOT damaged my car when they were mowing the highway the other day. Am I in my right to sue them for the depreciated value of my car when I have filed a claim with them to repair my car?"
Yes. You are entitled to the repair of your vehicle, any loss of use for the time the vehicle was being repaired, and any loss of market value as a result of the damage. That loss is referred to as "diminished value" and you should definitely include it in your claim.

I have negative equity and poor credit, but desperately need another car. Do I have any options?
If you have poor credit, the key will be being reasonable with your expectations and re-establishing your credit history.

How old is 'too old' when looking at used cars?
Typically people put on 12,000 miles a year on a used vehicle. You should try to stay under 60,000 miles - meaning that you should not really look at a vehicle older than 5 years.

Can I refinance my car after six months?
Generally speaking, no. In most cases, the earliest you can refinance a car loan is 2-3 years after purchase.

I am looking to buy a used car and I recently saw one like I want advertised for sale in the supermarket parking lot.
I wouldn't buy a vehicle off the street. I would prefer to recommend a dealership where you have recourse if there is a problem and you know they will stand behind it.

I am about to purchase a car, How do I get the payments as low as possible?
As you know, the payment is truly a function of how much you finance. That being said - there are 4 things for you to negotiate: 1. Your trade, 2. The price on the new vehicle, 3. The interest rate, 4. And the term of the loan. Change any one of the 4 and your payment will change. The car you want has about 10% mark-up in it. So if you are looking at a $28,000 car, the most you can hope to save is between $2,000 and $2,500 off the car. If it's too much, you have to find a less expensive vehicle.

Someone told me that since I have bad credit it helps to get a new car put at least $1500 down on it. Is that true?
It depends. It can be easier to get financed on a less expensive used vehicle if your credit is really poor.

Can I trade my car even though I have negative equity?
Yes, if your credit can handle the loan. If you are having trouble getting approved, it can be resolved with either down payment, a co-signer, or choosing a less expensive vehicle.

What does it mean to be upside down?
If you go to www.kbb.com and look up the value of your vehicle (look at average trade-in) you can then see if it is worth as much as you owe. If its worth less, then you will be upside down that amount of money. So if you owe $37,000 and the vehicle is worth $30,000 - then you will be upside down $7,000.

I've been told that I have to take a smaller vehicle for a year to reestablish my credit and then trade it in for a better vehicle. Is that true?
First off, if you take a vehicle, you won't be able to trade it in a year later. Don't listen to that -- it is wrong. You'll have too much negative equity and will be stuck. Any vehicle you get, plan on keeping it for most of the term of the loan. And lower your sights. Your credit cannot justify an expensive vehicle. You'll extend yourself too much. Fix your credit first.

I wanted to trade my car in but I just purchased it about eight months ago.
You probably won't be able to trade so soon. Typically, you should wait until at least half of the loan is paid off.

What is Gap Insurance?
If you are in an accident and your car is totaled, Gap Insurance covers any difference between what your car is worth and the amount you owe a bank if you are financing. It covers that 'gap.'

What is the difference between split limits and combined single limits of liability?
A combined single limit of liability has one limit for both bodily injury and property damage combined. That means if a policy had a limit of $100,000 the maximum amount the policy would pay for the total bodily injury and/or property damage would be $100,000. A split limit liability policy has a separate limit per person and per accident for bodily injury and a per accident limit for property damage. For example, if a policy had a limit of $25,000 on property damage and a $100,000 per person limit on bodily injury, with a $300,000 per accident limit on bodily injury, the maximum amount the policy would pay is: $25,000 for property damage and $300,000 for total bodily injury (not exceeding $100,000 per person).

Is it better to lease or buy?
Leasing is simply a form of financing. You basically are renting the vehicle with an option to buy it. At the end of the term, if you bought the vehicle, you would have paid essentially the same as if you financed the whole amount up front. The only difference is that during the term of the lease, your payment was about 1/2 of the payment if you had bought the vehicle. On the down side - if you lease, you cannot get out of the lease early without either purchasing the vehicle or making the remaining payments.

What is the best way to get the car I want with payments I can afford?
If you are looking for a lower payment, you should look at leasing. If you are looking at buying, your payment will be higher.

I spent a long time negotiating terms with the dealer. Four days later I got a call saying the bank cannot approve the loan and now the dealer wants to renegotiate the contract. Can they do this? What options do I have?
A car deal is typically conditioned on the dealer being able to assign the finance contract to a finance company. In the event they cannot find a company to accept the deal at the originally stated terms, the deal is not complete and the dealer will offer substitute terms to the buyer. The buyer has the option at that point to either return the vehicle or come to agreement with the dealer.

If I make $30,000 a year, how much can I finance?
You can finance up to 1/2 your annual income. So in your case, you could have a loan with an amount financed up to $15,000. If you want to buy a more expensive vehicle - then you have to put that extra money down as down payment.

If I purchased a car and decide I don't want it, is there a certain amount of time that I have to change my mind?
There is no "return policy" for you to change your mind when you buy a vehicle. The only times you can bring a vehicle back is when (1) the dealer agrees to take it back; (2) you have a written agreement with the dealer to take it back - e.g. it's part of their store policy; (3) your financing is not approved; or (4) you purchased the vehicle at an off-site sale like a Tent Sale - in which case you typically have 3 days under a "Door to Door" sales statute that exists in most states.

I have a 2005 Ford Explorer. I owe $20,668 and it has 48,880 miles. I want to trade it in for something else because my payments are $513.91 and I want a lower payment. What should I do?
The first thing you have to do is find out what the vehicle is worth. That way you will know if you owe more than it's worth or not. Remember, if you owe more than it's worth - that amount is called "negative equity" and must be added to the next loan; which will in turn raise your payment since you'll be financing more. As a quick rule of thumb, your payment will go up $25 a month for every $1,000 you add to the loan.