YOUR PURCHASE: EXPERT TIPS FOR FIRST-TIME CAR BUYERS
Pro Tip: If you are purchasing a used car, don’t forget to check CARFAX for the vehicle’s crash history, mileage, service history, and exterior and interior condition. DON’T FORGET INSURANCE AND REGISTRATION. As soon as you purchase a vehicle, you will need to insure and register it with your nearest department of motor vehicles!
RESEARCH AND WEIGH YOUR OPTIONS. The industry is vast! After you’ve established how much you are able to spend, you can begin to do your homework and find a car with the features that fit your needs. Pro Tip: Some questions to ask yourself are what will your vehicle be used for, how much commuting will you be doing, what are some necessary features, and how much space do you need?
For many, their first taste of freedom is purchasing their first car. It’s an exciting milestone and a huge financial decision. To help make the process easier and ensure you know what to expect, here’s a guide for parents and teens when purchasing their first vehicle. ESTABLISH A BUDGET. What can you afford? Today, the price of a new set of reliable and safe wheels is high. Even the cheapest new vehicle on the market is upwards of $15,000. Determine if a new or used car fits your price range and whether or not financing is a smart option. Pro Tip: Check out vehicle listings on Facebook, Craigslist, and OfferUp — sometimes, you can land a great deal. Just be sure to do your research and bring a friend along when you test drive the vehicle, for both safety reasons and another opinion.
Pro Tip: Don’t forget this cost when considering your budget! These fees add up.
DON’T SKIP THE TEST DRIVES. A test drive is essential, especially when purchasing your first
vehicle. During this check for roadworthiness, you will see that each car drives differently. It’s important to get a feel for how each one handles and rides.
With these tips, purchasing your new car will be fun and exciting! Most importantly, don’t forget to buckle up and practice safe driving as soon as you exit the car lot!
The Dangers of Drafting Your Own Business Contracts
WHY EXPERIENCE BEATS DIY METHODS
Every business owner signs contracts throughout the course of any given year. Documents ranging from leases, vendor agreements, and engagement agreements for services rendered are just a few examples that entrepreneurs sign on a weekly basis. Sometimes, business owners are inclined to sign contracts without reviewing or understanding the governing terms, but people should never get complacent about legally binding documents, and they certainly shouldn’t attempt to draft contracts themselves. Technically, anyone can write a contract. The law doesn’t require much more than an offer, acceptance of the offer, and two legally competent people who agree to the terms and sign off on the documents. However, it’s crucial to remember that people write contracts to memorialize the terms of a business arrangement and specify what happens in case things go wrong. A hastily drafted contract is much less effective at upholding your rights and interests than a contract drafted by a seasoned attorney. People who draft their own commercial contracts or attempt to use DIY templates often end up with ambiguous terms that leave room for interpretation. Contracts lacking specificity can be difficult or even impossible to enforce in a court, potentially leaving you without legal recourse when you need it most.
of the terms you need, some of which you may not know you need. Additionally, a lawyer can ensure you fully understand the legal ramifications of the terms in your contracts, as many people sign contracts without fully comprehending all the terms and conditions. An attorney can also help you secure more favorable terms, warn you about a bad deal, help you negotiate a better one, and offer you guidance about when you should consider walking away. An attorney can also prevent potentially costly loopholes buried in the fine print of documents by reviewing those documents before you sign them. Some parties intentionally include onerous terms in contracts as a way to exploit the other side. Hiring an attorney to review a contract can help you avoid loopholes that can and will come back to haunt you. Contracts are only useful if they’re enforceable and drafted in accordance with your best interests. A contract that is ambiguous, confusing, or written incorrectly may not be worth the paper it’s written on. Business owners can also find themselves in legal hot water if they misunderstand the terms and inadvertently breach the contract. We strongly recommend you do not write your own business contracts or sign agreements before an experienced attorney can review them in full. The team at Douglass & Runger is here to help. Call us at 901-388-5805 to schedule your confidential consultation.
There are many benefits to having a business attorney prepare your company’s contracts. First, a skilled business attorney can ensure your contracts contain all
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