A place for tips and tricks
10 tips for buying a new car. Thanks to Consumer Reports, Edmunds.com and others for providing these helpful hints.
1. Be prepared: Before you go to the dealer, read up on the car you are interested in and any competitors. Web sites like Edmunds.com and Consumerreports.org offer a bevy of information and reviews, as well as tips on pricing. Consumer Reports also recommends that you don’t wait until you are planning to buy to test drive the vehicles. The more you know about the vehicles you’re interested in, the less sway your dealer will have.
2. Take it one step at a time: There are lots of elements that go into buying a vehicle: Choosing the car, deciding on extras, working out the financing, selling your old vehicle. As Consumer Reports notes, many dealers will try to mix all these things together in the negotiation process. Their advice is to get the best price first, then work on other aspects of your purchase.
3. Arrange financing separately: You may be able to get a better deal on financing through your bank, credit union or other service. Make sure you at least explore those options before working with your dealer on financing.
4. It may not be worth it to trade in your old vehicle: Our dealer offered us a laughably low price for our old vehicle. When my husband said that he expected about double that, the dealer replied, “But that’s the retail price!” Well, yes. Use websites like Kelley Blue Book to figure out what your car is really worth, and then find a buyer who will pay you that.
5. Don’t be rushed: never, ever, ever buy a car right after the first test drive. You may want that car more than anything in the world, but make yourself walk away and think it over. Take a few days or even weeks. Chances are, you’ll end up with a lower price.
6. Get the best price:Insurance companies, consumer groups and auto clubs all offer services that help you negotiate the best price. Edmunds.com has a feature that tells you not only what the difference is between the invoice price and retail price, but also what the fair market value is in your area. Use all these tools and then talk to a number of dealers before you settle on price.
7. Pit car dealers against each other: Gruhl recommends calling a number of car dealers and asking each one to get you the best price. Tell them that whoever gives you the best deal will get your money that day.
8. Get your deal in writing: If you’re negotiating by phone or e-mail, ask the dealer to e-mail you all the vehicle details, including VIN, specifications and – most important – price. That will help you compare prices accurately and make sure that, when you show up at the dealership, you actually have a car to buy.
9. Beware of sneak attack fees: Dealers may throw in all sorts of last-minute fees. Make sure that your dealer includes the “walk off the lot” price in the bid, with all fees, taxes and licensing included.
10. Be skeptical: Remember, this isn’t a popularity contest, it’s a competition for the best price. As I told one dealer, “I don’t have to like you to buy a car from you.” Make sure you double-check everything they say, ask any hard questions that come to mind and be prepared to walk away, or hang up, if you aren’t getting what you think is a fair deal.
10 tips for buying a new car. Thanks to Consumer Reports, Edmunds.com and others for providing these helpful hints.
1. Be prepared: Before you go to the dealer, read up on the car you are interested in and any competitors. Web sites like Edmunds.com and Consumerreports.org offer a bevy of information and reviews, as well as tips on pricing. Consumer Reports also recommends that you don’t wait until you are planning to buy to test drive the vehicles. The more you know about the vehicles you’re interested in, the less sway your dealer will have.
2. Take it one step at a time: There are lots of elements that go into buying a vehicle: Choosing the car, deciding on extras, working out the financing, selling your old vehicle. As Consumer Reports notes, many dealers will try to mix all these things together in the negotiation process. Their advice is to get the best price first, then work on other aspects of your purchase.
3. Arrange financing separately: You may be able to get a better deal on financing through your bank, credit union or other service. Make sure you at least explore those options before working with your dealer on financing.
4. It may not be worth it to trade in your old vehicle: Our dealer offered us a laughably low price for our old vehicle. When my husband said that he expected about double that, the dealer replied, “But that’s the retail price!” Well, yes. Use websites like Kelley Blue Book to figure out what your car is really worth, and then find a buyer who will pay you that.
5. Don’t be rushed: never, ever, ever buy a car right after the first test drive. You may want that car more than anything in the world, but make yourself walk away and think it over. Take a few days or even weeks. Chances are, you’ll end up with a lower price.
6. Get the best price:Insurance companies, consumer groups and auto clubs all offer services that help you negotiate the best price. Edmunds.com has a feature that tells you not only what the difference is between the invoice price and retail price, but also what the fair market value is in your area. Use all these tools and then talk to a number of dealers before you settle on price.
7. Pit car dealers against each other: Gruhl recommends calling a number of car dealers and asking each one to get you the best price. Tell them that whoever gives you the best deal will get your money that day.
8. Get your deal in writing: If you’re negotiating by phone or e-mail, ask the dealer to e-mail you all the vehicle details, including VIN, specifications and – most important – price. That will help you compare prices accurately and make sure that, when you show up at the dealership, you actually have a car to buy.
9. Beware of sneak attack fees: Dealers may throw in all sorts of last-minute fees. Make sure that your dealer includes the “walk off the lot” price in the bid, with all fees, taxes and licensing included.
10. Be skeptical: Remember, this isn’t a popularity contest, it’s a competition for the best price. As I told one dealer, “I don’t have to like you to buy a car from you.” Make sure you double-check everything they say, ask any hard questions that come to mind and be prepared to walk away, or hang up, if you aren’t getting what you think is a fair deal.