FINANCE
How Do I Figure The Amount For Tax, Title and License?
Tax on automobiles in the state of Iowa is 5%. You will only pay tax on the price of the vehicle, less your trade value. For example, if you buy a $20,000 vehicle and trade in a vehicle that is worth $10,000 you would only pay tax on the $10,000 trade difference. Title fees are $25. License fees vary from vehicle to vehicle and are based on a combination of weight and original MSRP.
When Will My First Car Payment Be Due?
The standard length until the first payment is due is 45 days. 90 days until first payment may be available with acceptable credit.
For How Long Can I Finance My Car?
It varies depending on the model year of the vehicle. The longest term is 84 months. Standard terms are anywhere from 36-72 months depending on model year.
How Much Do You Require For A Down payment?
Typically a down payment is not required for purchase. However, a down payment will lower your monthly payments.
What Is GAP Insurance?
GAP insurance is a inexpensive way to cover any negative equity in your vehicle in the event of an accident. GAP insurance will pay any amount that you still owe on your vehicle beyond what your car insurance pays in the event of a total loss. For example, if you total a vehicle that you still owe $23,000 on and your insurance provider only pays $20,000 for the loss, your GAP insurance would pay off the extra $3,000 that was not covered by your insurance provider.
How Much Payment Can I Afford?
A good guideline is 20% of your gross monthly income but other factors can cause this to vary.
Do You Offer Extended Warranties or Service Agreements?
We offer warranty coverage to fit any drivers needs. We offer both comprehensive and limited coverage’s for any vehicle with less than 100,000 miles on it at time of purchase. Our finance manager Jim Molstead will discuss with you your driving habits and find the coverage that best fits your needs and your budget.
How Can I Get Pre-Approved?
Simply fill out our secure online credit application and we will get to work on the pre-qualification process. Fill out the secure form and a manager will get in contact with you shortly.
SALES
What Makes Purchasing a Vehicle From Mike Molstead Motors Different From Other Dealers?
Mike Molstead Motors provides every customer with a high level of customer service. From our knowledgeable and helpful sales staff, to our highly regarded service department you will be taken care of during every step of the sales process. As our hundreds of repeat customers will attest, our quality of service and customer satisfaction is second to none.
Do You Sell Vehicles Online?
We do. While we prefer to conduct the majority of the sales process in person to deliver a higher level of satisfaction for our customers, we are very flexible. We have sold to customers throughout the United States (from California to Rhode Island) who have never stepped foot in our dealership. If you would like to handle the entire sales process over the internet, please contact our Internet Sales Director, Jordan Molstead and he will help you through the process.
If The Vehicle I Want Is Not In Stock, How Long Will It Take You To Locate Me A Vehicle?
If we are locating you a new vehicle we can complete the process within a day. If locating you a used vehicle we can usually find you what you are looking for in a matter of a few days. Depending on the vehicle, this process can take longer but we will try to accommodate your request as quickly as possible.
Can I Order A Vehicle From The Manufacturer?
Yes. A order from the manufacturer will usually take around 6 weeks between the time we order it and the time it physically arrives on the lot. Usually we can avoid ordering vehicles by simply locating the vehicle of choice from another dealer and acquiring it via dealer trade. Please contact a salesperson if you would like more information on this process.
Are You Priced Competitively With Other Dealers?
Every vehicle on our lot is competitively priced. We are continuously comparing our vehicles to comparable vehicles within 500 miles of our store and adjusting our prices accordingly. We will always provide you with a competitively priced vehicle and unparalleled customer service.
How Do You Determine My Trade In Value For My Vehicle?
Each trade in is appraised differently based on various criteria including year, miles, model and condition. Our pre-owned vehicle managers will do a thorough assessment of your vehicle which will allow us to give you proper trade in value.
What Types Of Purchases Methods Do You Offer?
Our purchase methods include financing, cash payment (check), or outside financing. We deal with over 10 different lending institutions to always try to give you the best financing options available. Most of the time we can beat outside banks interest rates, while doing all your paperwork here to save you time and hassle.
How Does My Credit Rating Affect My Purchase Of A Vehicle?
Your credit rating will help determine your interest rate and length of loan term. Our finance director Jim Molstead will provide a proper assessment of your credit. Sometimes a customer may think that their credit history will not qualify them for a new vehicle when in fact they do qualify.
How Can I Purchase Or Inquire About An Extended Warranty?
Our Finance managers will go over all of your warranty options at time of purchase. If you already own a vehicle that you would like to add warranty coverage to, please contact Jim Molstead at 1-800-332-2579 and he will be happy to assist you.
SERVICE
Does Molstead Motors Provide Loaner Vehicles?
We do provide loaner vehicles if your vehicle is going to be in our service department for an extended period of time. We also have a full service shuttle that can transport you to any local location if you would prefer that option.
Where Can I Order Parts or Accessories?
Dave Krieger or Polly Chuick in our Parts Department will be happy to assist you with any parts or accessory questions. They can be reached at 1-800-332-2579.
If You Do Not Have A Part In Stock, How Long Does It Take To Order?
If we need to order a part, we can usually have it here within one business day. You can also order parts through us over the phone and have them shipped directly to you.
How Can I Determine When My Vehicle Is Due For Its Next Service Appointment?
If you are a previous customer of Mike Molstead Motors, contact one of our service advisors who can locate your previous service records to determine what was performed. If you are a new customer to Mike Molstead Motors, we can determine what service needs to be performed next on your vehicle.
I Did Not Purchase My Vehicle From Your Dealership, Can I Still Bring It There For Service?
Absolutely. We have a large number of customers who did not buy from us or that have a different line of vehicle bring their cars to us for service work due to our high level of workmanship and customer satisfaction.
