Author draws on experience to advise others

J.L. Tatum has been a banker, automobile-dealership owner, real estate investor and financial-article writer. He's taken information he learned from these professions and added another: CD and book author.

Tatum, a Colorado Springs resident for 15 years, has written a book-and-CD package called "Coming Back Strong."

Designed to help readers build a solid financial foundation and learn how to save money when buying a car or house, the book reveals tips Tatum picked up from working in the financial, automotive and real estate industries.

"It's not a research book; I give solutions to problems based on real and proven experiences," he said, "and people can save thousands of dollars just by being informed."

The two-part program covers how to clean up a credit report and raise credit scores, along with the ins and outs of car and home buying.

Three versions are available. The standard includes a printed and oral version of the book; a CD with data, such as sample credit reports, form letters to credit bureaus and contact information; and a DVD of a television interview Tatum did. Christian and Catholic versions add Bible verses, quotes and prayers.

Question: Why did you write this book?

Answer: One of my good friends went through a job loss, death in the family, bankruptcy and foreclosure, and all of the problems that go along with those situations, through no fault of his own. I watched his recovery and the record time he did it in. It was so impressive, I decided to write about the techniques. I researched available books, and when I read a few of them, I knew I could do better.

Q: What car dealerships did you own?

A: I had a Chevrolet, Pontiac, Buick and GMC dealership; and a Chrysler, Dodge and Plymouth dealership. They were in central Mississippi, and I was in the business for 10 years.


Q: Why did you write about the car-buying process?

A: Buying a car is something you do on average every four years, and it's a very intimidating process. You're swarmed immediately when you drive on the lot, and there's a lot of pressure. I wanted to take the intimidation out of it.

Q: What are some ways car buyers can do that?

A: You want to take control in the beginning. Let them know you're not there to buy right now. You're just looking and have other dealerships you want to go to and won't buy until you get the best deal.

Take a calculator and doublecheck figures you are given. Be firm in the price you will pay and be prepared to get up and walk out. You'll find you have the control and you'll get the best deal.

Q: What other recommendations do you have for car buyers?

A: You can't fall in love with a car on the lot. If you do, you just shot yourself in the foot. Find a few cars you're interested in on the Internet and research what the dealer's cost is, so you have a basis to work with. Remember, the dealership has to make some money to stay in business. If you have a trade-in, know what it's worth before you go shopping.

Q: Anything else?

A: Pull your own credit report to avoid a ding or inquiry on the report. I give three scenarios in the book on how to proceed, based on whether your credit score is poor, moderate or good. Take the credit report with you to the dealerships. If you shop at five dealerships and they all pull credit reports, it drives down your credit score. Wait until you're ready to buy for them to pull a credit report on you.

Q: What about financing?

A: A dealership can take a skinny deal on the front end, maybe making a few hundreds dollars or selling you the car at their cost, and by the time you get out of financing it can be a $2,000 or $3,000 deal in their favor. It's unbelievable the add-ons they'll try to sell you that you don't need - extended warranties, fabric protection, vinyl roof protection.

Q: How can people get your book?

A: By ordering it on coming backstrong.com.

Questions and answers are edited for space and clarity.

CONTACT THE WRITER: 636-0235 or debbie.kelley@gazette.com